{
  "ticker": {
    "uuid": "b5b3510f-eb11-4572-8686-81a4043576c0",
    "symbol": "EYLD",
    "name": "CAMBRIA EMERGING SHAREHOLDER YIELD ETF",
    "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": "2b",
    "phase_label": "Stage 2B \u00b7 Advancing",
    "transition": "stage_2_healthy",
    "transition_label": "Stage 2 trend intact",
    "confidence": 96.0,
    "architecture_regime": "deceleration",
    "architecture_regime_label": "Deceleration",
    "architecture_modifier": "Recompressing",
    "architecture_gate": "up",
    "architecture_direction": 44.502,
    "architecture_energy": 21.09,
    "architecture_maturity": 38.119,
    "architecture_confidence": 89.622,
    "architecture_tenure": "New",
    "architecture": {
      "interpretation": {
        "headline": "The upward structure remains, but its energy is decelerating.",
        "body": "Trend remains positive, but Activity or price acceptance is losing strength. This can become a healthy recompression, a re-acceleration, or a Rotation Down."
      },
      "scores": {
        "balance": 42.74,
        "rotation_up": 32.92,
        "upward_expansion": 56.03,
        "deceleration": 86.64,
        "rotation_down": 24.35,
        "downward_expansion": 17.37
      },
      "activity_lines": [
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        45.778418,
        45.023535
      ],
      "activity_state": "Compressed",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": 0.333333
    },
    "latest_close": 46.9701,
    "trend_reference": 43.989859,
    "distance_from_trend": 0.067748,
    "trend_direction": "Improving",
    "fair_value": 33.477102,
    "distance_from_fair_value": 0.403052,
    "fair_value_direction": "Weakening",
    "relative_strength": 2.784381,
    "relative_strength_direction": "Weakening",
    "price_momentum": 0.109213,
    "excess_performance": -0.016412,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.067748,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.069406,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.403052,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.048532,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.027844,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.058169,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.109213,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 2.033108,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 1102360,
      "relative_activity": 2.036004,
      "balance": 2.033108,
      "dry_up": 1.002648,
      "accumulation_observations": 4,
      "distribution_observations": 1
    },
    "risk": {
      "range_context": 0.050497,
      "annualized_volatility": 0.22947,
      "from_high_reference": -0.050424,
      "from_low_reference": 0.362571
    },
    "levels": {
      "trend_reference": 43.989859,
      "fair_value_reference": 33.477102,
      "structural_low": 39.392023,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 8,
        "median_return": 0.006512,
        "positive_rate": 0.625,
        "directional_follow_through": 0.625,
        "median_excess_return": -0.024295,
        "regime_survival": 0.5,
        "best_return": 0.105172,
        "worst_return": -0.030488,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 5,
        "median_return": 0.05422,
        "positive_rate": 0.8,
        "directional_follow_through": 0.8,
        "median_excess_return": -0.025334,
        "regime_survival": 0.2,
        "best_return": 0.12726,
        "worst_return": -0.031761,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 3,
        "median_return": 0.020737,
        "positive_rate": 0.666667,
        "directional_follow_through": 0.666667,
        "median_excess_return": -0.104034,
        "regime_survival": 0.333333,
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        "worst_return": -0.03281,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
        "sample_count": 2,
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        "positive_rate": 1.0,
        "directional_follow_through": 1.0,
        "median_excess_return": -0.074663,
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        "worst_return": 0.133183,
        "sufficient": false
      }
    ],
    "ledger": [
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        "regime": "balance",
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      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
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        "tenure": "Extended",
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      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
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        "tenure": "Developing",
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      },
      {
        "regime": "balance",
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        "tenure": "Developing",
        "return": -0.040012,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
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        "end": "2025-03-07",
        "tenure": "Established",
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        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
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        "end": "2025-03-28",
        "tenure": "New",
        "return": -0.017737,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
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        "end": "2025-05-02",
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      {
        "regime": "balance",
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        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
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        "regime": "deceleration",
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        "active": false
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      {
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        "date": "2026-06-19",
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      },
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      },
      {
        "date": "2026-07-03",
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        "relative_strength": 4.566928,
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      },
      {
        "date": "2026-07-10",
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        "typical_volume": 520721.15,
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        "fair_value": 32.952279,
        "relative_strength": 6.004066,
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        "energy": 39.429003,
        "activity_lines": [
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      },
      {
        "date": "2026-07-17",
        "close": 45.23,
        "volume": 295414,
        "typical_volume": 514288.75,
        "trend": 43.251057,
        "fair_value": 33.080837,
        "relative_strength": 3.518267,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 39.81329,
        "energy": 22.506699,
        "activity_lines": [
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          45.384693,
          44.553553
        ]
      },
      {
        "date": "2026-07-24",
        "close": 45.43,
        "volume": 313565,
        "typical_volume": 496219.0,
        "trend": 43.498975,
        "fair_value": 33.205747,
        "relative_strength": 4.389838,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 36.420074,
        "energy": 19.956996,
        "activity_lines": [
          45.706,
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          44.69413
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      },
      {
        "date": "2026-07-31",
        "close": 45.37,
        "volume": 460129,
        "typical_volume": 498790.2,
        "trend": 43.735352,
        "fair_value": 33.335147,
        "relative_strength": 2.933652,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 33.190998,
        "energy": 17.257523,
        "activity_lines": [
          45.585333,
          45.88445,
          45.569788,
          44.814841
        ]
      },
      {
        "date": "2026-08-07",
        "close": 46.9701,
        "volume": 1102360,
        "typical_volume": 541433.05,
        "trend": 43.989859,
        "fair_value": 33.477102,
        "relative_strength": 2.784381,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 44.502254,
        "energy": 21.090363,
        "activity_lines": [
          46.0027,
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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."
    }
  }
}