{ "ticker": { "uuid": "ba42b218-5099-4c68-849c-bd9b35caf686", "symbol": "CPSJ", "name": "CALAMOS S&P 500 STRUCTURED ALT PROTECTION ETF - JULY", "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": 67.641, "architecture_regime": "upward_expansion", "architecture_regime_label": "Upward Expansion", "architecture_modifier": "Established expansion", "architecture_gate": "up", "architecture_direction": 95.311, "architecture_energy": 77.275, "architecture_maturity": 71.035, "architecture_confidence": 70.23, "architecture_tenure": "Established", "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": 4.44, "rotation_up": 70.21, "upward_expansion": 87.67, "deceleration": 65.61, "rotation_down": 25.13, "downward_expansion": 12.0 }, "activity_lines": [ 27.814213, 27.755189, 27.646459, 27.508265 ], "activity_state": "Wide", "activity_direction": "Contracting", "rotation_direction": "Weakening", "price_acceptance": 0.833333 }, "latest_close": 27.97, "trend_reference": 27.337383, "distance_from_trend": 0.023141, "trend_direction": "Improving", "fair_value": 25.979015, "distance_from_fair_value": 0.076638, "fair_value_direction": "Improving", "relative_strength": -7.900115, "relative_strength_direction": "Improving", "price_momentum": 0.03439, "excess_performance": -0.091235, "evidence": [ { "label": "Price vs Trend", "positive": true, "value": 0.023141, "read": "Above" }, { "label": "Trend direction", "positive": true, "value": 0.011377, "read": "Rising" }, { "label": "Price vs current Fair Value", "positive": true, "value": 0.076638, "read": "Premium" }, { "label": "Fair Value direction", "positive": true, "value": 0.010351, "read": "Closing upward" }, { "label": "Relative Strength vs benchmark", "positive": false, "value": -0.079001, "read": "Lagging" }, { "label": "Relative strength direction", "positive": true, "value": 0.004805, "read": "Improving" }, { "label": "Price momentum", "positive": true, "value": 0.03439, "read": "Positive" }, { "label": "Volume balance", "positive": true, "value": 3.339567, "read": "Demand-led" } ], "volume": { "latest": 60770, "relative_activity": 1.894716, "balance": 3.339567, "dry_up": 1.920478, "accumulation_observations": 4, "distribution_observations": 2 }, "risk": { "range_context": 0.003073, "annualized_volatility": 0.022115, "from_high_reference": -0.001071, "from_low_reference": 0.065524 }, "levels": { "trend_reference": 27.337383, "fair_value_reference": 25.979015, "structural_low": 26.71, 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27.274607, "fair_value": 25.943922, "relative_strength": -5.11281, "stage": 3, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 68.246733, "energy": 85.330495, "activity_lines": [ 27.706413, 27.675322, 27.561976, 27.432823 ] }, { "date": "2026-07-31", "close": 27.778, "volume": 49951, "typical_volume": 29109.45, "trend": 27.30404, "fair_value": 25.960749, "relative_strength": -5.577764, "stage": 3, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 81.949284, "energy": 72.463061, "activity_lines": [ 27.73258, 27.700011, 27.59707, 27.4653 ] }, { "date": "2026-08-07", "close": 27.97, "volume": 60770, "typical_volume": 32073.4, "trend": 27.337383, "fair_value": 25.979015, "relative_strength": -7.900115, "stage": 3, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 95.310725, "energy": 77.27462, "activity_lines": [ 27.814213, 27.755189, 27.646459, 27.508265 ] } ], "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." } } }