{ "ticker": { "uuid": "d98c77ad-3dd1-413c-942b-c6413846641c", "symbol": "ZNQ", "name": "BMO NASDAQ 100 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": "deceleration", "architecture_regime_label": "Deceleration", "architecture_modifier": "Recompressing", "architecture_gate": "up", "architecture_direction": 44.964, "architecture_energy": 28.84, "architecture_maturity": 67.285, "architecture_confidence": 88.637, "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": 31.37, "rotation_up": 30.94, "upward_expansion": 61.59, "deceleration": 85.49, "rotation_down": 30.88, "downward_expansion": 20.59 }, "activity_lines": [ 130.83, 132.221818, 130.947953, 126.615011 ], "activity_state": "Moderate", "activity_direction": "Contracting", "rotation_direction": "Weakening", "price_acceptance": 0.5 }, "latest_close": 133.919998, "trend_reference": 121.352666, "distance_from_trend": 0.10356, "trend_direction": "Improving", "fair_value": 95.509741, "distance_from_fair_value": 0.402161, "fair_value_direction": "Weakening", "relative_strength": 1.82504, "relative_strength_direction": "Weakening", "price_momentum": 0.210412, "excess_performance": 0.089991, "evidence": [ { "label": "Price vs Trend", "positive": true, "value": 0.10356, "read": "Above" }, { "label": "Trend direction", "positive": true, "value": 0.056372, "read": "Rising" }, { "label": "Price vs current Fair Value", "positive": true, "value": 0.402161, "read": "Premium" }, { "label": "Fair Value direction", "positive": false, "value": -0.035445, "read": "Moving away" }, { "label": "Relative Strength vs benchmark", "positive": true, "value": 0.01825, "read": "Leading" }, { "label": "Relative strength direction", "positive": false, "value": -0.036756, "read": "Weakening" }, { "label": "Price momentum", "positive": true, "value": 0.210412, "read": "Positive" }, { "label": "Volume balance", "positive": true, "value": 2.275579, "read": "Demand-led" } ], "volume": { "latest": 35900, "relative_activity": 0.470018, "balance": 2.275579, "dry_up": 0.88243, "accumulation_observations": 2, "distribution_observations": 1 }, "risk": { "range_context": 0.040828, "annualized_volatility": 0.207649, "from_high_reference": -0.037655, "from_low_reference": 0.303294 }, "levels": { "trend_reference": 121.352666, "fair_value_reference": 95.509741, "structural_low": 102.839996, "invalidation": "A 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"relative_strength": 1.361108, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 51.900126, "energy": 47.744492, "activity_lines": [ 133.780668, 133.960729, 129.348144, 124.700131 ] }, { "date": "2026-07-24", "close": 128.229996, "volume": 58600, "typical_volume": 74795.0, "trend": 120.2, "fair_value": 94.666932, "relative_strength": 0.167818, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 46.042343, "energy": 36.471269, "activity_lines": [ 131.576667, 133.00291, 129.79781, 125.249678 ] }, { "date": "2026-07-31", "close": 128.190002, "volume": 68100, "typical_volume": 76450.0, "trend": 120.747333, "fair_value": 95.066529, "relative_strength": 0.610454, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 37.836899, "energy": 25.266981, "activity_lines": [ 130.088001, 132.059819, 130.147858, 125.765162 ] }, { "date": "2026-08-07", "close": 133.919998, "volume": 35900, "typical_volume": 76380.0, "trend": 121.352666, "fair_value": 95.509741, "relative_strength": 1.82504, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 44.964043, "energy": 28.839816, "activity_lines": [ 130.83, 132.221818, 130.947953, 126.615011 ] } ], "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." } } }