{ "ticker": { "uuid": "c10463ef-d517-4574-8cc6-b3bf5dc99f31", "symbol": "JSML", "name": "JANUS HENDERSON SMALL CAP GROWTH ALPHA ETF", "exchange": "NASDAQ", "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": "QQQ", "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": 52.483, "architecture_energy": 33.921, "architecture_maturity": 57.708, "architecture_confidence": 83.636, "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": 28.79, "rotation_up": 35.8, "upward_expansion": 63.97, "deceleration": 88.0, "rotation_down": 26.84, "downward_expansion": 16.3 }, "activity_lines": [ 89.151007, 89.472909, 87.565498, 84.487467 ], "activity_state": "Moderate", "activity_direction": "Contracting", "rotation_direction": "Weakening", "price_acceptance": 0.333333 }, "latest_close": 91.3676, "trend_reference": 81.06954, "distance_from_trend": 0.127027, "trend_direction": "Improving", "fair_value": 65.788754, "distance_from_fair_value": 0.388803, "fair_value_direction": "Improving", "relative_strength": 2.911556, "relative_strength_direction": "Improving", "price_momentum": 0.193574, "excess_performance": 0.006121, "evidence": [ { "label": "Price vs Trend", "positive": true, "value": 0.127027, "read": "Above" }, { "label": "Trend direction", "positive": true, "value": 0.066742, "read": "Rising" }, { "label": "Price vs current Fair Value", "positive": true, "value": 0.388803, "read": "Premium" }, { "label": "Fair Value direction", "positive": true, "value": 0.04432, "read": "Closing upward" }, { "label": "Relative Strength vs benchmark", "positive": true, "value": 0.029116, "read": "Leading" }, { "label": "Relative strength direction", "positive": true, "value": 0.056701, "read": "Improving" }, { "label": "Price momentum", "positive": true, "value": 0.193574, "read": "Positive" }, { "label": "Volume balance", "positive": false, "value": 0.551758, "read": "Supply-led" } ], "volume": { "latest": 96627, "relative_activity": 0.973462, "balance": 0.551758, "dry_up": 1.239342, "accumulation_observations": 1, "distribution_observations": 5 }, "risk": { "range_context": 0.051328, "annualized_volatility": 0.208581, "from_high_reference": -0.067309, "from_low_reference": 0.369115 }, "levels": { "trend_reference": 81.06954, "fair_value_reference": 65.788754, "structural_low": 66.73477, "invalidation": "A 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"color": "orange", "start": "2025-03-07", "end": "2025-03-28", "tenure": "New", "return": -0.03209, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2025-04-04", "end": "2025-06-06", "tenure": "Developing", "return": 0.206009, "active": false }, { "regime": "rotation_up", "label": "Rotation Up", "color": "teal", "start": "2025-06-13", "end": "2025-07-18", "tenure": "Developing", "return": 0.042896, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2025-07-25", "end": "2025-11-07", "tenure": "Established", "return": 0.08779, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2025-11-14", "end": "2026-01-09", "tenure": "Developing", "return": 0.06283, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2026-01-16", "end": "2026-02-27", "tenure": "Developing", 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90.219632, 89.350649, 85.770926, 82.824461 ] }, { "date": "2026-07-24", "close": 87.4454, "volume": 140569, "typical_volume": 94645.4, "trend": 80.127694, "fair_value": 65.345148, "relative_strength": 4.279952, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 48.609974, "energy": 40.451722, "activity_lines": [ 89.197439, 89.23119, 86.326433, 83.323196 ] }, { "date": "2026-07-31", "close": 87.3847, "volume": 165060, "typical_volume": 97853.9, "trend": 80.578396, "fair_value": 65.54947, "relative_strength": 3.542298, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 43.177699, "energy": 31.555289, "activity_lines": [ 88.389907, 89.016615, 86.797795, 83.79139 ] }, { "date": "2026-08-07", "close": 91.3676, "volume": 96627, "typical_volume": 99261.15, "trend": 81.06954, "fair_value": 65.788754, "relative_strength": 2.911556, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 52.482864, "energy": 33.920854, "activity_lines": [ 89.151007, 89.472909, 87.565498, 84.487467 ] } ], "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." } } }