{ "ticker": { "uuid": "a6f369c0-369a-408c-ae72-1721786071d7", "symbol": "CVRD", "name": "MADISON ETFS TRUST MADISON COVERED CALL 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": "3b", "phase_label": "Stage 3B \u00b7 Distribution", "transition": "stage_3_churning", "transition_label": "Stage 3 range intact", "confidence": 54.738, "architecture_regime": "downward_expansion", "architecture_regime_label": "Downward Expansion", "architecture_modifier": "Early contraction", "architecture_gate": "mixed", "architecture_direction": 27.348, "architecture_energy": 29.275, "architecture_maturity": 44.782, "architecture_confidence": 59.179, "architecture_tenure": "Developing", "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": 47.8, "rotation_up": 60.79, "upward_expansion": 31.86, "deceleration": 35.89, "rotation_down": 15.27, "downward_expansion": 23.53 }, "activity_lines": [ 18.316133, 18.153852, 18.167355, 18.169876 ], "activity_state": "Compressed", "activity_direction": "Contracting", "rotation_direction": "Improving", "price_acceptance": 0.166667 }, "latest_close": 18.675, "trend_reference": 18.218366, "distance_from_trend": 0.025064, "trend_direction": "Improving", "fair_value": 17.085136, "distance_from_fair_value": 0.093055, "fair_value_direction": "Improving", "relative_strength": -8.005871, "relative_strength_direction": "Improving", "price_momentum": 0.014554, "excess_performance": -0.111071, "evidence": [ { "label": "Price vs Trend", "positive": true, "value": 0.025064, "read": "Above" }, { "label": "Trend direction", "positive": true, "value": 0.002887, "read": "Rising" }, { "label": "Price vs current Fair Value", "positive": true, "value": 0.093055, "read": "Premium" }, { "label": "Fair Value direction", "positive": true, "value": 0.017043, "read": "Closing upward" }, { "label": "Relative Strength vs benchmark", "positive": false, "value": -0.080059, "read": "Lagging" }, { "label": "Relative strength direction", "positive": true, "value": 0.011877, "read": "Improving" }, { "label": "Price momentum", "positive": true, "value": 0.014554, "read": "Positive" }, { "label": "Volume balance", "positive": false, "value": 0.899201, "read": "Supply-led" } ], "volume": { "latest": 179, "relative_activity": 0.014251, "balance": 0.899201, "dry_up": 2.222477, "accumulation_observations": 2, "distribution_observations": 2 }, "risk": { "range_context": 0.014838, "annualized_volatility": 0.103205, "from_high_reference": -0.128849, "from_low_reference": 0.09813 }, "levels": { "trend_reference": 18.218366, "fair_value_reference": 17.085136, "structural_low": 17.5629, 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"2026-07-10", "close": 18.0507, "volume": 30084, "typical_volume": 7031.8, "trend": 18.210678, "fair_value": 17.054157, "relative_strength": -9.965197, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -58.063016, "energy": 61.959001, "activity_lines": [ 17.920826, 18.036463, 18.110391, 18.158546 ] }, { "date": "2026-07-17", "close": 18.042, "volume": 102, "typical_volume": 7027.05, "trend": 18.212903, "fair_value": 17.060656, "relative_strength": -8.3073, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -54.111666, "energy": 50.640707, "activity_lines": [ 17.958967, 18.0219, 18.102286, 18.147663 ] }, { "date": "2026-07-24", "close": 17.9733, "volume": 60071, "typical_volume": 10002.8, "trend": 18.206676, "fair_value": 17.066621, "relative_strength": -7.839707, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -51.65021, "energy": 29.145093, "activity_lines": [ 17.983467, 17.999151, 18.090332, 18.132205 ] }, { "date": "2026-07-31", "close": 18.3281, "volume": 51307, "typical_volume": 12559.9, "trend": 18.212521, "fair_value": 17.074812, "relative_strength": -6.790662, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -12.918231, "energy": 13.125344, "activity_lines": [ 18.11168, 18.044121, 18.113358, 18.140039 ] }, { "date": "2026-08-07", "close": 18.675, "volume": 179, "typical_volume": 12560.2, "trend": 18.218366, "fair_value": 17.085136, "relative_strength": -8.005871, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "mixed", "direction": 27.34808, "energy": 29.27498, "activity_lines": [ 18.316133, 18.153852, 18.167355, 18.169876 ] } ], "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." } } }