{ "ticker": { "uuid": "92b25a9d-d32e-45c6-a33b-dac8d28fc59d", "symbol": "MMCA", "name": "NYLI MACKAY CALIFORNIA MUNI INTERMEDIATE ETF", "exchange": "NYSEARCA", "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": 3, "stage_name": "Distribution", "phase": "3a", "phase_label": "Stage 3A \u00b7 Churning", "transition": "stage_3_churning", "transition_label": "Stage 3 range intact", "confidence": 71.383, "architecture_regime": "downward_expansion", "architecture_regime_label": "Downward Expansion", "architecture_modifier": "Early contraction", "architecture_gate": "down", "architecture_direction": -60.043, "architecture_energy": 69.925, "architecture_maturity": 4.602, "architecture_confidence": 77.644, "architecture_tenure": "New", "architecture": { "interpretation": { "headline": "The weekly architecture is expanding downward.", "body": "Trend and Activity show sustained negative alignment with weak price acceptance. Repair requires persistent improvement across the structure, not merely one strong observation." }, "scores": { "balance": 26.85, "rotation_up": 11.09, "upward_expansion": 17.7, "deceleration": 34.53, "rotation_down": 72.82, "downward_expansion": 88.7 }, "activity_lines": [ 21.423774, 21.515688, 21.560543, 21.592313 ], "activity_state": "Moderate", "activity_direction": "Expanding", "rotation_direction": "Weakening", "price_acceptance": -0.5 }, "latest_close": 21.4803, "trend_reference": 21.643273, "distance_from_trend": -0.00753, "trend_direction": "Improving", "fair_value": 20.570862, "distance_from_fair_value": 0.04421, "fair_value_direction": "Weakening", "relative_strength": -11.073821, "relative_strength_direction": "Weakening", "price_momentum": -0.014744, "excess_performance": -0.140369, "evidence": [ { "label": "Price vs Trend", "positive": false, "value": -0.00753, "read": "Below" }, { "label": "Trend direction", "positive": true, "value": 0.001406, "read": "Rising" }, { "label": "Price vs current Fair Value", "positive": true, "value": 0.04421, "read": "Premium" }, { "label": "Fair Value direction", "positive": false, "value": -0.016756, "read": "Moving away" }, { "label": "Relative Strength vs benchmark", "positive": false, "value": -0.110738, "read": "Lagging" }, { "label": "Relative strength direction", "positive": false, "value": -0.014631, "read": "Weakening" }, { "label": "Price momentum", "positive": false, "value": -0.014744, "read": "Negative" }, { "label": "Volume balance", "positive": true, "value": 1.590537, "read": "Demand-led" } ], "volume": { "latest": 110257, "relative_activity": 0.978785, "balance": 1.590537, "dry_up": 0.949683, "accumulation_observations": 2, "distribution_observations": 2 }, "risk": { "range_context": 0.006987, "annualized_volatility": 0.039706, "from_high_reference": -0.025099, "from_low_reference": 0.035266 }, "levels": { "trend_reference": 21.643273, "fair_value_reference": 20.570862, "structural_low": 21.260508, 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"energy": 19.832997, "activity_lines": [ 21.625124, 21.639795, 21.622916, 21.645999 ] }, { "date": "2026-07-24", "close": 21.320341, "volume": 157601, "typical_volume": 117906.15, "trend": 21.656349, "fair_value": 20.543437, "relative_strength": -8.217595, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -74.320702, "energy": 59.190217, "activity_lines": [ 21.51204, 21.585843, 21.594468, 21.623937 ] }, { "date": "2026-07-31", "close": 21.335, "volume": 72611, "typical_volume": 114228.95, "trend": 21.649117, "fair_value": 20.556829, "relative_strength": -8.862677, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -74.226499, "energy": 75.223006, "activity_lines": [ 21.430932, 21.536395, 21.569685, 21.603204 ] }, { "date": "2026-08-07", "close": 21.4803, "volume": 110257, "typical_volume": 112646.75, "trend": 21.643273, "fair_value": 20.570862, "relative_strength": -11.073821, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -60.043341, "energy": 69.924963, "activity_lines": [ 21.423774, 21.515688, 21.560543, 21.592313 ] } ], "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." } } }