{ "ticker": { "uuid": "c1730072-65c2-4c26-9862-96a4b479b5a8", "symbol": "ZWK", "name": "BMO Covered Call US Banks ETF", "exchange": "TOR", "country": "CA", "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": "^GSPTSE", "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": "upward_expansion", "architecture_regime_label": "Upward Expansion", "architecture_modifier": "Established expansion", "architecture_gate": "up", "architecture_direction": 67.253, "architecture_energy": 63.217, "architecture_maturity": 76.909, "architecture_confidence": 81.202, "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": 6.1, "rotation_up": 58.21, "upward_expansion": 87.67, "deceleration": 65.52, "rotation_down": 27.01, "downward_expansion": 12.0 }, "activity_lines": [ 29.951919, 29.82745, 28.815004, 28.03831 ], "activity_state": "Wide", "activity_direction": "Contracting", "rotation_direction": "Weakening", "price_acceptance": 0.833333 }, "latest_close": 30.0, "trend_reference": 27.306711, "distance_from_trend": 0.098631, "trend_direction": "Improving", "fair_value": 21.395023, "distance_from_fair_value": 0.402195, "fair_value_direction": "Improving", "relative_strength": 1.71609, "relative_strength_direction": "Improving", "price_momentum": 0.064368, "excess_performance": -0.056053, "evidence": [ { "label": "Price vs Trend", "positive": true, "value": 0.098631, "read": "Above" }, { "label": "Trend direction", "positive": true, "value": 0.049322, "read": "Rising" }, { "label": "Price vs current Fair Value", "positive": true, "value": 0.402195, "read": "Premium" }, { "label": "Fair Value direction", "positive": true, "value": 0.097544, "read": "Closing upward" }, { "label": "Relative Strength vs benchmark", "positive": true, "value": 0.017161, "read": "Leading" }, { "label": "Relative strength direction", "positive": true, "value": 0.063441, "read": "Improving" }, { "label": "Price momentum", "positive": true, "value": 0.064368, "read": "Positive" }, { "label": "Volume balance", "positive": false, "value": 0.796875, "read": "Supply-led" } ], "volume": { "latest": 107800, "relative_activity": 1.19891, "balance": 0.796875, "dry_up": 1.030418, "accumulation_observations": 1, "distribution_observations": 2 }, "risk": { "range_context": 0.028238, "annualized_volatility": 0.205552, "from_high_reference": -0.022579, "from_low_reference": 0.334867 }, "levels": { "trend_reference": 27.306711, "fair_value_reference": 21.395023, "structural_low": 23.723463, "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis." }, "outcomes": [ { "horizon": "Near term", "sample_count": 34, "median_return": 0.008669, "positive_rate": 0.617647, "directional_follow_through": 0.617647, "median_excess_return": 0.003793, "regime_survival": 0.794118, "best_return": 0.12458, "worst_return": -0.168031, "sufficient": true }, { "horizon": "Intermediate", "sample_count": 13, "median_return": 0.021981, "positive_rate": 0.615385, "directional_follow_through": 0.615385, "median_excess_return": -0.009992, "regime_survival": 0.769231, "best_return": 0.201708, "worst_return": -0.373982, "sufficient": true }, { "horizon": "Extended", "sample_count": 7, "median_return": 0.087366, "positive_rate": 0.571429, "directional_follow_through": 0.571429, "median_excess_return": -0.04732, "regime_survival": 0.571429, "best_return": 0.306958, "worst_return": -0.27012, "sufficient": true }, { 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21.109352, "relative_strength": 5.099739, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 72.336292, "energy": 89.10499, "activity_lines": [ 29.931585, 29.260024, 28.073104, 27.492731 ] }, { "date": "2026-07-24", "close": 30.056482, "volume": 42100, "typical_volume": 99430.0, "trend": 27.112672, "fair_value": 21.205035, "relative_strength": 4.887299, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 70.377406, "energy": 85.516783, "activity_lines": [ 30.021009, 29.543151, 28.359, 27.690103 ] }, { "date": "2026-07-31", "close": 29.73, "volume": 66400, "typical_volume": 91800.0, "trend": 27.220112, "fair_value": 21.298728, "relative_strength": 4.133727, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 67.000733, "energy": 65.347798, "activity_lines": [ 29.947655, 29.687986, 28.588376, 27.858963 ] }, { "date": "2026-08-07", "close": 30.0, "volume": 107800, "typical_volume": 89915.0, "trend": 27.306711, "fair_value": 21.395023, "relative_strength": 1.71609, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 67.253118, "energy": 63.217261, "activity_lines": [ 29.951919, 29.82745, 28.815004, 28.03831 ] } ], "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." } } }