{
  "ticker": {
    "uuid": "c253d30f-a57d-4fc8-b89e-262eeb25cfb8",
    "symbol": "CUEI",
    "name": "CIBC MSCI USA Equity Index 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": 78.141,
    "architecture_energy": 57.332,
    "architecture_maturity": 87.767,
    "architecture_confidence": 58.08,
    "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": 17.62,
        "rotation_up": 48.05,
        "upward_expansion": 76.47,
        "deceleration": 71.48,
        "rotation_down": 29.4,
        "downward_expansion": 14.47
      },
      "activity_lines": [
        41.78,
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        41.023644,
        40.021316
      ],
      "activity_state": "Moderate",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": 0.5
    },
    "latest_close": 42.619999,
    "trend_reference": 38.890433,
    "distance_from_trend": 0.095899,
    "trend_direction": "Improving",
    "fair_value": 31.890907,
    "distance_from_fair_value": 0.336431,
    "fair_value_direction": "Improving",
    "relative_strength": -0.025978,
    "relative_strength_direction": "Improving",
    "price_momentum": 0.148313,
    "excess_performance": 0.027892,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.095899,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.038579,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.336431,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.027674,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.00026,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.017267,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.148313,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 1.559708,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 9700,
      "relative_activity": 0.456149,
      "balance": 1.559708,
      "dry_up": 0.891136,
      "accumulation_observations": 4,
      "distribution_observations": 2
    },
    "risk": {
      "range_context": 0.022571,
      "annualized_volatility": 0.133471,
      "from_high_reference": -0.008837,
      "from_low_reference": 0.236271
    },
    "levels": {
      "trend_reference": 38.890433,
      "fair_value_reference": 31.890907,
      "structural_low": 34.632309,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 36,
        "median_return": 0.016803,
        "positive_rate": 0.75,
        "directional_follow_through": 0.75,
        "median_excess_return": -0.000318,
        "regime_survival": 0.805556,
        "best_return": 0.065665,
        "worst_return": -0.049292,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 11,
        "median_return": 0.048826,
        "positive_rate": 0.818182,
        "directional_follow_through": 0.818182,
        "median_excess_return": 0.016532,
        "regime_survival": 0.727273,
        "best_return": 0.18311,
        "worst_return": -0.03786,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 6,
        "median_return": 0.072385,
        "positive_rate": 0.833333,
        "directional_follow_through": 0.833333,
        "median_excess_return": 0.052612,
        "regime_survival": 0.666667,
        "best_return": 0.190713,
        "worst_return": -0.036458,
        "sufficient": true
      },
      {
        "horizon": "Full cycle",
        "sample_count": 3,
        "median_return": 0.149776,
        "positive_rate": 1.0,
        "directional_follow_through": 1.0,
        "median_excess_return": 0.129238,
        "regime_survival": 1.0,
        "best_return": 0.383241,
        "worst_return": 0.132648,
        "sufficient": false
      }
    ],
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        "start": "2024-09-06",
        "end": "2025-02-28",
        "tenure": "Established",
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        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2025-03-07",
        "end": "2025-03-28",
        "tenure": "New",
        "return": -0.036868,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
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        "return": 0.013689,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2025-04-25",
        "end": "2025-05-30",
        "tenure": "Developing",
        "return": 0.063865,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
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        "end": "2025-06-27",
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        "active": false
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      {
        "regime": "rotation_up",
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      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
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        "active": false
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        "trend": 36.875206,
        "fair_value": 29.973818,
        "relative_strength": -5.950781,
        "stage": 3,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -0.180994,
        "energy": 11.735167,
        "activity_lines": [
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          36.63592,
          36.773944
        ]
      },
      {
        "date": "2026-04-24",
        "close": 38.52,
        "volume": 7200,
        "typical_volume": 29675.0,
        "trend": 36.945567,
        "fair_value": 30.083586,
        "relative_strength": -4.336716,
        "stage": 3,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "mixed",
        "direction": 37.407759,
        "energy": 41.326539,
        "activity_lines": [
          37.619457,
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      },
      {
        "date": "2026-05-01",
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        "typical_volume": 30180.0,
        "trend": 37.003783,
        "fair_value": 30.196457,
        "relative_strength": -3.874542,
        "stage": 3,
        "regime": "rotation_up",
        "modifier": "Structural repair",
        "gate": "mixed",
        "direction": 37.502211,
        "energy": 51.526079,
        "activity_lines": [
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          36.962652,
          36.98919
        ]
      },
      {
        "date": "2026-05-08",
        "close": 39.674313,
        "volume": 17500,
        "typical_volume": 30905.0,
        "trend": 37.122103,
        "fair_value": 30.314491,
        "relative_strength": -1.75265,
        "stage": 3,
        "regime": "rotation_up",
        "modifier": "Value reclamation",
        "gate": "up",
        "direction": 86.023715,
        "energy": 89.749015,
        "activity_lines": [
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          37.219459,
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      },
      {
        "date": "2026-05-15",
        "close": 40.063274,
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        "typical_volume": 32050.0,
        "trend": 37.233827,
        "fair_value": 30.433099,
        "relative_strength": 0.044832,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 85.400905,
        "energy": 92.932046,
        "activity_lines": [
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      },
      {
        "date": "2026-05-22",
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        "typical_volume": 27510.0,
        "trend": 37.336312,
        "fair_value": 30.553165,
        "relative_strength": -0.583361,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 85.073164,
        "energy": 93.659626,
        "activity_lines": [
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      },
      {
        "date": "2026-05-29",
        "close": 41.120461,
        "volume": 52000,
        "typical_volume": 28930.0,
        "trend": 37.445812,
        "fair_value": 30.676073,
        "relative_strength": 0.025026,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
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        "direction": 85.994206,
        "energy": 94.234714,
        "activity_lines": [
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          37.808804
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      },
      {
        "date": "2026-06-05",
        "close": 40.50211,
        "volume": 5600,
        "typical_volume": 28035.0,
        "trend": 37.567522,
        "fair_value": 30.795636,
        "relative_strength": -0.390297,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 68.042754,
        "energy": 87.027275,
        "activity_lines": [
          40.561284,
          39.829008,
          38.442604,
          38.005985
        ]
      },
      {
        "date": "2026-06-12",
        "close": 40.841206,
        "volume": 11800,
        "typical_volume": 27345.0,
        "trend": 37.689927,
        "fair_value": 30.914897,
        "relative_strength": -1.012789,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 71.173771,
        "energy": 84.984946,
        "activity_lines": [
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          38.21719
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      },
      {
        "date": "2026-06-19",
        "close": 41.399715,
        "volume": 6000,
        "typical_volume": 23490.0,
        "trend": 37.84653,
        "fair_value": 31.039966,
        "relative_strength": 0.300014,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 78.553013,
        "energy": 84.129568,
        "activity_lines": [
          40.976844,
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          39.076221,
          38.456531
        ]
      },
      {
        "date": "2026-06-26",
        "close": 41.080566,
        "volume": 15600,
        "typical_volume": 23915.0,
        "trend": 37.969288,
        "fair_value": 31.159117,
        "relative_strength": -0.395786,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 68.301148,
        "energy": 69.81075,
        "activity_lines": [
          41.043333,
          40.693645,
          39.360301,
          38.665179
        ]
      },
      {
        "date": "2026-07-03",
        "close": 42.650002,
        "volume": 4900,
        "typical_volume": 23595.0,
        "trend": 38.144691,
        "fair_value": 31.289633,
        "relative_strength": 2.662501,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 90.437903,
        "energy": 86.613116,
        "activity_lines": [
          41.597063,
          41.132178,
          39.774969,
          38.967161
        ]
      },
      {
        "date": "2026-07-10",
        "close": 42.25,
        "volume": 44100,
        "typical_volume": 24160.0,
        "trend": 38.322676,
        "fair_value": 31.414541,
        "relative_strength": 1.610662,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 77.031945,
        "energy": 84.738626,
        "activity_lines": [
          41.915489,
          41.422892,
          40.122289,
          39.232019
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      },
      {
        "date": "2026-07-17",
        "close": 41.240002,
        "volume": 30000,
        "typical_volume": 23600.0,
        "trend": 38.461357,
        "fair_value": 31.53142,
        "relative_strength": -0.583882,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 67.295451,
        "energy": 67.240093,
        "activity_lines": [
          41.780724,
          41.46428,
          40.34911,
          39.420234
        ]
      },
      {
        "date": "2026-07-24",
        "close": 41.130001,
        "volume": 14400,
        "typical_volume": 22275.0,
        "trend": 38.599024,
        "fair_value": 31.646599,
        "relative_strength": -1.000203,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 64.969968,
        "energy": 63.562541,
        "activity_lines": [
          41.582706,
          41.457202,
          40.5442,
          39.592404
        ]
      },
      {
        "date": "2026-07-31",
        "close": 41.369999,
        "volume": 21700,
        "typical_volume": 21125.0,
        "trend": 38.742842,
        "fair_value": 31.764809,
        "relative_strength": 0.106472,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 60.186912,
        "energy": 52.349233,
        "activity_lines": [
          41.482667,
          41.474364,
          40.73771,
          39.771177
        ]
      },
      {
        "date": "2026-08-07",
        "close": 42.619999,
        "volume": 9700,
        "typical_volume": 21265.0,
        "trend": 38.890433,
        "fair_value": 31.890907,
        "relative_strength": -0.025978,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 78.14135,
        "energy": 57.331999,
        "activity_lines": [
          41.78,
          41.703744,
          41.023644,
          40.021316
        ]
      }
    ],
    "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."
    }
  }
}