{ "ticker": { "uuid": "ac91509a-d718-4ce3-81af-407efe751260", "symbol": "00678", "name": "Capital Nasdaq Biotechnology Index Exchange Traded Fund", "exchange": "TAI", "country": "TW", "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": "^TWII", "stage": 3, "stage_name": "Distribution", "phase": "3a", "phase_label": "Stage 3A \u00b7 Churning", "transition": "stage_3_churning", "transition_label": "Stage 3 range intact", "confidence": 96.0, "architecture_regime": "upward_expansion", "architecture_regime_label": "Upward Expansion", "architecture_modifier": "Early expansion", "architecture_gate": "up", "architecture_direction": 67.946, "architecture_energy": 64.951, "architecture_maturity": 29.142, "architecture_confidence": 71.187, "architecture_tenure": "Developing", "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": 10.82, "rotation_up": 65.5, "upward_expansion": 85.33, "deceleration": 63.79, "rotation_down": 18.41, "downward_expansion": 12.0 }, "activity_lines": [ 40.862, 40.315455, 38.669191, 37.838516 ], "activity_state": "Wide", "activity_direction": "Contracting", "rotation_direction": "Stable", "price_acceptance": 0.666667 }, "latest_close": 41.0, "trend_reference": 36.949, "distance_from_trend": 0.109638, "trend_direction": "Improving", "fair_value": 29.818718, "distance_from_fair_value": 0.374975, "fair_value_direction": "Improving", "relative_strength": -12.032178, "relative_strength_direction": "Improving", "price_momentum": 0.15363, "excess_performance": -0.225682, "evidence": [ { "label": "Price vs Trend", "positive": true, "value": 0.109638, "read": "Above" }, { "label": "Trend direction", "positive": true, "value": 0.051021, "read": "Rising" }, { "label": "Price vs current Fair Value", "positive": true, "value": 0.374975, "read": "Premium" }, { "label": "Fair Value direction", "positive": true, "value": 0.136839, "read": "Closing upward" }, { "label": "Relative Strength vs benchmark", "positive": false, "value": -0.120322, "read": "Lagging" }, { "label": "Relative strength direction", "positive": true, "value": 0.110933, "read": "Improving" }, { "label": "Price momentum", "positive": true, "value": 0.15363, "read": "Positive" }, { "label": "Volume balance", "positive": true, "value": 1.839785, "read": "Demand-led" } ], "volume": { "latest": 1879303, "relative_activity": 1.344995, "balance": 1.839785, "dry_up": 1.474574, "accumulation_observations": 4, "distribution_observations": 4 }, "risk": { "range_context": 0.031407, "annualized_volatility": 0.167676, "from_high_reference": -0.031877, "from_low_reference": 0.58118 }, "levels": { "trend_reference": 36.949, "fair_value_reference": 29.818718, "structural_low": 34.099998, 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"modifier": "Re-accelerating", "gate": "up", "direction": 68.266696, "energy": 88.496847, "activity_lines": [ 40.563333, 38.969637, 37.581429, 37.012344 ] }, { "date": "2026-07-24", "close": 40.41, "volume": 2780428, "typical_volume": 1369372.1, "trend": 36.554667, "fair_value": 29.623077, "relative_strength": -12.730559, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 66.865452, "energy": 87.840732, "activity_lines": [ 40.75, 39.429818, 37.928191, 37.27443 ] }, { "date": "2026-07-31", "close": 41.040001, "volume": 1558148, "typical_volume": 1367858.1, "trend": 36.742, "fair_value": 29.719808, "relative_strength": -9.996213, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 69.251993, "energy": 85.946202, "activity_lines": [ 40.890667, 39.923819, 38.313667, 37.563807 ] }, { "date": "2026-08-07", "close": 41.0, "volume": 1879303, "typical_volume": 1397256.5, "trend": 36.949, "fair_value": 29.818718, "relative_strength": -12.032178, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 67.946078, "energy": 64.950567, "activity_lines": [ 40.862, 40.315455, 38.669191, 37.838516 ] } ], "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." } } }