{
  "ticker": {
    "uuid": "d3109ea5-2643-4728-a93a-875763f81d46",
    "symbol": "IMCV",
    "name": "ISHARES MORNINGSTAR MID-CAP VALUE 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": "2a",
    "phase_label": "Stage 2A \u00b7 Early advance",
    "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": 83.475,
    "architecture_energy": 87.21,
    "architecture_maturity": 37.184,
    "architecture_confidence": 72.921,
    "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": 0.35,
        "rotation_up": 83.11,
        "upward_expansion": 97.26,
        "deceleration": 41.05,
        "rotation_down": 11.7,
        "downward_expansion": 19.26
      },
      "activity_lines": [
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        90.554915
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      "activity_state": "Wide",
      "activity_direction": "Expanding",
      "rotation_direction": "Improving",
      "price_acceptance": 1.0
    },
    "latest_close": 96.72,
    "trend_reference": 88.750224,
    "distance_from_trend": 0.0898,
    "trend_direction": "Improving",
    "fair_value": 73.78777,
    "distance_from_fair_value": 0.310786,
    "fair_value_direction": "Improving",
    "relative_strength": -0.151989,
    "relative_strength_direction": "Improving",
    "price_momentum": 0.106134,
    "excess_performance": -0.081319,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.0898,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.047987,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.310786,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.071999,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.00152,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.088115,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.106134,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 6.720268,
        "read": "Demand-led"
      }
    ],
    "volume": {
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      "relative_activity": 0.699488,
      "balance": 6.720268,
      "dry_up": 1.03559,
      "accumulation_observations": 3,
      "distribution_observations": 0
    },
    "risk": {
      "range_context": 0.019491,
      "annualized_volatility": 0.102609,
      "from_high_reference": -0.004529,
      "from_low_reference": 0.286723
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    "levels": {
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      "fair_value_reference": 73.78777,
      "structural_low": 82.034281,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
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        "horizon": "Near term",
        "sample_count": 33,
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        "positive_rate": 0.666667,
        "directional_follow_through": 0.666667,
        "median_excess_return": -0.000177,
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        "worst_return": -0.108399,
        "sufficient": true
      },
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        "horizon": "Intermediate",
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        "date": "2026-04-17",
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        "typical_volume": 151272.65,
        "trend": 82.708414,
        "fair_value": 70.40625,
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        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
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        "energy": 39.805543,
        "activity_lines": [
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      },
      {
        "date": "2026-04-24",
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        "fair_value": 70.600496,
        "relative_strength": -2.911306,
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        "modifier": "Momentum cooling",
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        "activity_lines": [
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      },
      {
        "date": "2026-05-01",
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        "relative_strength": -3.506551,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
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        "activity_lines": [
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      },
      {
        "date": "2026-05-08",
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        "typical_volume": 146775.85,
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        "fair_value": 71.010427,
        "relative_strength": -8.963531,
        "stage": 3,
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        "modifier": "Re-accelerating",
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      },
      {
        "date": "2026-05-15",
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        "typical_volume": 146704.75,
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        "stage": 3,
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        "direction": 59.857187,
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        "activity_lines": [
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      },
      {
        "date": "2026-05-22",
        "close": 89.186523,
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        "typical_volume": 141172.4,
        "trend": 84.320564,
        "fair_value": 71.426336,
        "relative_strength": -8.057443,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
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        "direction": 69.752566,
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      },
      {
        "date": "2026-05-29",
        "close": 89.448424,
        "volume": 90168,
        "typical_volume": 135688.1,
        "trend": 84.686362,
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        "relative_strength": -10.146053,
        "stage": 3,
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      },
      {
        "date": "2026-06-05",
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        "typical_volume": 132161.95,
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        "fair_value": 71.846784,
        "relative_strength": -5.240336,
        "stage": 3,
        "regime": "upward_expansion",
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        "activity_lines": [
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      },
      {
        "date": "2026-06-12",
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        "volume": 152769,
        "typical_volume": 133113.5,
        "trend": 85.480169,
        "fair_value": 72.057189,
        "relative_strength": -5.679742,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
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        "direction": 80.327301,
        "energy": 79.714061,
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      },
      {
        "date": "2026-06-19",
        "close": 89.84,
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        "typical_volume": 130215.25,
        "trend": 85.87528,
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        "relative_strength": -9.523231,
        "stage": 3,
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      },
      {
        "date": "2026-06-26",
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        "typical_volume": 126781.75,
        "trend": 86.259248,
        "fair_value": 72.476247,
        "relative_strength": -2.746039,
        "stage": 3,
        "regime": "upward_expansion",
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        "direction": 80.70947,
        "energy": 81.993851,
        "activity_lines": [
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      },
      {
        "date": "2026-07-03",
        "close": 93.28,
        "volume": 94594,
        "typical_volume": 124122.4,
        "trend": 86.668561,
        "fair_value": 72.69389,
        "relative_strength": -2.307273,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
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        "direction": 83.691749,
        "energy": 86.915328,
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      },
      {
        "date": "2026-07-10",
        "close": 93.5081,
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        "typical_volume": 122951.95,
        "trend": 87.050183,
        "fair_value": 72.905108,
        "relative_strength": -3.690679,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 79.452492,
        "energy": 87.445236,
        "activity_lines": [
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      },
      {
        "date": "2026-07-17",
        "close": 94.3945,
        "volume": 131680,
        "typical_volume": 117299.25,
        "trend": 87.473843,
        "fair_value": 73.115615,
        "relative_strength": 1.438543,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 81.538837,
        "energy": 91.049789,
        "activity_lines": [
          93.33318,
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          90.21251,
          89.03398
        ]
      },
      {
        "date": "2026-07-24",
        "close": 95.055,
        "volume": 158509,
        "typical_volume": 119046.2,
        "trend": 87.892898,
        "fair_value": 73.330356,
        "relative_strength": 3.771028,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 79.687002,
        "energy": 90.345731,
        "activity_lines": [
          94.13958,
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          90.841675,
          89.523087
        ]
      },
      {
        "date": "2026-07-31",
        "close": 95.5009,
        "volume": 98417,
        "typical_volume": 117555.3,
        "trend": 88.334661,
        "fair_value": 73.554289,
        "relative_strength": 3.638103,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 78.802283,
        "energy": 87.969816,
        "activity_lines": [
          94.746947,
          93.522528,
          91.467774,
          90.013926
        ]
      },
      {
        "date": "2026-08-07",
        "close": 96.72,
        "volume": 78953,
        "typical_volume": 112872.6,
        "trend": 88.750224,
        "fair_value": 73.78777,
        "relative_strength": -0.151989,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 83.475244,
        "energy": 87.210034,
        "activity_lines": [
          95.537713,
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          90.554915
        ]
      }
    ],
    "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."
    }
  }
}