{ "ticker": { "uuid": "ceb0a580-8f4b-4268-b7dd-233378b079a1", "symbol": "FBT", "name": "FIRST TRUST EXCHANGE TRADED FUND NYSE ARCA BIOTECHNOLOGY INDEX FUND", "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": 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": "Early expansion", "architecture_gate": "up", "architecture_direction": 77.122, "architecture_energy": 67.012, "architecture_maturity": 56.382, "architecture_confidence": 73.761, "architecture_tenure": "Developing", "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": 12.25, "rotation_up": 57.2, "upward_expansion": 83.0, "deceleration": 70.26, "rotation_down": 25.33, "downward_expansion": 12.0 }, "activity_lines": [ 249.907333, 247.383138, 235.357344, 226.788152 ], "activity_state": "Wide", "activity_direction": "Contracting", "rotation_direction": "Weakening", "price_acceptance": 0.5 }, "latest_close": 255.93, "trend_reference": 218.472733, "distance_from_trend": 0.171451, "trend_direction": "Improving", "fair_value": 174.828472, "distance_from_fair_value": 0.463892, "fair_value_direction": "Improving", "relative_strength": 10.050139, "relative_strength_direction": "Improving", "price_momentum": 0.20398, "excess_performance": 0.078355, "evidence": [ { "label": "Price vs Trend", "positive": true, "value": 0.171451, "read": "Above" }, { "label": "Trend direction", "positive": true, "value": 0.054502, "read": "Rising" }, { "label": "Price vs current Fair Value", "positive": true, "value": 0.463892, "read": "Premium" }, { "label": "Fair Value direction", "positive": true, "value": 0.216703, "read": "Closing upward" }, { "label": "Relative Strength vs benchmark", "positive": true, "value": 0.100501, "read": "Leading" }, { "label": "Relative strength direction", "positive": true, "value": 0.115233, "read": "Improving" }, { "label": "Price momentum", "positive": true, "value": 0.20398, "read": "Positive" }, { "label": "Volume balance", "positive": false, "value": 0.773428, "read": "Supply-led" } ], "volume": { "latest": 175311, "relative_activity": 0.543103, "balance": 0.773428, "dry_up": 1.52878, "accumulation_observations": 2, "distribution_observations": 2 }, "risk": { "range_context": 0.039494, "annualized_volatility": 0.210311, "from_high_reference": -0.008772, "from_low_reference": 0.570797 }, "levels": { "trend_reference": 218.472733, "fair_value_reference": 174.828472, "structural_low": 189.47, 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88.209825, "activity_lines": [ 248.642667, 239.9273, 226.583545, 220.292391 ] }, { "date": "2026-07-24", "close": 247.39, "volume": 1094029, "typical_volume": 313108.8, "trend": 215.853233, "fair_value": 173.552591, "relative_strength": 12.264535, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 66.663728, "energy": 86.073653, "activity_lines": [ 249.156, 242.721731, 229.551176, 222.398537 ] }, { "date": "2026-07-31", "close": 245.06, "volume": 571675, "typical_volume": 323102.95, "trend": 217.097733, "fair_value": 174.16053, "relative_strength": 9.572038, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 64.010235, "energy": 63.715033, "activity_lines": [ 247.656667, 244.356162, 232.061474, 224.282845 ] }, { "date": "2026-08-07", "close": 255.93, "volume": 175311, "typical_volume": 322795.35, "trend": 218.472733, "fair_value": 174.828472, "relative_strength": 10.050139, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 77.122189, "energy": 67.012357, "activity_lines": [ 249.907333, 247.383138, 235.357344, 226.788152 ] } ], "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." } } }