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    "symbol": "SPAQ",
    "name": "HORIZON KINETICS SPAC ACTIVE ETF",
    "exchange": "NASDAQ",
    "country": "US",
    "assetType": "etf"
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    "as_of": "2026-08-07",
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        "fair_value": 86.114576,
        "relative_strength": -10.249622,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 69.486826,
        "energy": 71.872592,
        "activity_lines": [
          93.832107,
          93.755136,
          93.273564,
          92.765051
        ]
      }
    ],
    "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."
    }
  }
}