{
  "ticker": {
    "uuid": "8b0f016f-f9cc-4ce7-8a72-0d5c1de80070",
    "symbol": "DSEP",
    "name": "FT VEST U.S. EQUITY DEEP BUFFER ETF - SEPTEMBER",
    "exchange": "CBOE",
    "country": "US",
    "assetType": "etf"
  },
  "methodBoundary": "Trend Architecture is a weekly structural classification, not a forecast, probability of return, recommendation or execution signal. Confidence measures geometric agreement and external confirmation only.",
  "analysis": {
    "eligible": true,
    "as_of": "2026-08-07",
    "benchmark": "SPY",
    "stage": 2,
    "stage_name": "Advancing",
    "phase": "2a",
    "phase_label": "Stage 2A \u00b7 Early advance",
    "transition": "stage_2_healthy",
    "transition_label": "Stage 2 trend intact",
    "confidence": 55.792,
    "architecture_regime": "upward_expansion",
    "architecture_regime_label": "Upward Expansion",
    "architecture_modifier": "Established expansion",
    "architecture_gate": "up",
    "architecture_direction": 86.459,
    "architecture_energy": 84.282,
    "architecture_maturity": 41.097,
    "architecture_confidence": 81.253,
    "architecture_tenure": "Established",
    "architecture": {
      "interpretation": {
        "headline": "The weekly architecture is expanding upward.",
        "body": "Trend and Activity show sustained positive alignment with constructive price acceptance. Directional energy remains positive; cooling within this regime can indicate that it is maturing."
      },
      "scores": {
        "balance": 5.58,
        "rotation_up": 67.4,
        "upward_expansion": 93.59,
        "deceleration": 45.38,
        "rotation_down": 24.43,
        "downward_expansion": 17.92
      },
      "activity_lines": [
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      "activity_state": "Wide",
      "activity_direction": "Expanding",
      "rotation_direction": "Weakening",
      "price_acceptance": 0.833333
    },
    "latest_close": 48.3016,
    "trend_reference": 46.113253,
    "distance_from_trend": 0.047456,
    "trend_direction": "Improving",
    "fair_value": 40.966314,
    "distance_from_fair_value": 0.179057,
    "fair_value_direction": "Improving",
    "relative_strength": -5.058153,
    "relative_strength_direction": "Improving",
    "price_momentum": 0.066958,
    "excess_performance": -0.058667,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.047456,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.020809,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.179057,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.004783,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.050582,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.004877,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.066958,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 2.480988,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 20152,
      "relative_activity": 0.426097,
      "balance": 2.480988,
      "dry_up": 0.697608,
      "accumulation_observations": 5,
      "distribution_observations": 2
    },
    "risk": {
      "range_context": 0.009056,
      "annualized_volatility": 0.067085,
      "from_high_reference": -0.000445,
      "from_low_reference": 0.116065
    },
    "levels": {
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      "fair_value_reference": 40.966314,
      "structural_low": 43.2798,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
    },
    "outcomes": [
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        "horizon": "Near term",
        "sample_count": 38,
        "median_return": 0.008554,
        "positive_rate": 0.710526,
        "directional_follow_through": 0.710526,
        "median_excess_return": -0.003412,
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        "best_return": 0.033531,
        "worst_return": -0.034868,
        "sufficient": true
      },
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        "horizon": "Intermediate",
        "sample_count": 13,
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        "worst_return": -0.04113,
        "sufficient": true
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        "horizon": "Extended",
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        "sufficient": false
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        "date": "2026-06-12",
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      },
      {
        "date": "2026-07-03",
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      },
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      },
      {
        "date": "2026-07-17",
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        "typical_volume": 53509.3,
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        "fair_value": 40.709824,
        "relative_strength": -3.174728,
        "stage": 2,
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      },
      {
        "date": "2026-07-24",
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        "volume": 49961,
        "typical_volume": 50951.3,
        "trend": 45.91347,
        "fair_value": 40.791362,
        "relative_strength": -2.644416,
        "stage": 2,
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        "modifier": "Established expansion",
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        "energy": 81.144443,
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      },
      {
        "date": "2026-07-31",
        "close": 47.8944,
        "volume": 32147,
        "typical_volume": 49784.6,
        "trend": 46.012867,
        "fair_value": 40.877663,
        "relative_strength": -2.729585,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 77.203296,
        "energy": 84.587976,
        "activity_lines": [
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      },
      {
        "date": "2026-08-07",
        "close": 48.3016,
        "volume": 20152,
        "typical_volume": 47294.45,
        "trend": 46.113253,
        "fair_value": 40.966314,
        "relative_strength": -5.058153,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 86.45941,
        "energy": 84.281844,
        "activity_lines": [
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      }
    ],
    "method": {
      "price_basis": "completed market observations",
      "trend": "Trend provides the primary directional reference.",
      "fair_value": "Fair Value provides long-term price context and is not a forecast or target.",
      "relative_strength": "Relative Strength shows leadership or lagging performance against the market benchmark.",
      "classification": "The SM framework combines Trend, Activity, Fair Value, Relative Strength and participation into a structural read."
    }
  }
}