{
  "ticker": {
    "uuid": "e161b19c-8ae8-4156-94ed-8c9a43d20954",
    "symbol": "CWS",
    "name": "ADVISORSHARES TRUST ADVISORSHARES FOCUSED EQUITY ETF",
    "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": 3,
    "stage_name": "Distribution",
    "phase": "3a",
    "phase_label": "Stage 3A \u00b7 Churning",
    "transition": "stage_3_churning",
    "transition_label": "Stage 3 range intact",
    "confidence": 55.544,
    "architecture_regime": "rotation_up",
    "architecture_regime_label": "Rotation Up",
    "architecture_modifier": "Value reclamation",
    "architecture_gate": "up",
    "architecture_direction": 87.795,
    "architecture_energy": 86.408,
    "architecture_maturity": 9.354,
    "architecture_confidence": 61.544,
    "architecture_tenure": "New",
    "architecture": {
      "interpretation": {
        "headline": "The prior uptrend is attempting to re-accelerate.",
        "body": "Positive Trend survived a recompression and Fast Activity is strengthening again. Promotion requires renewed confirmation across the completed evidence set."
      },
      "scores": {
        "balance": 12.54,
        "rotation_up": 82.67,
        "upward_expansion": 94.41,
        "deceleration": 41.85,
        "rotation_down": 8.63,
        "downward_expansion": 18.75
      },
      "activity_lines": [
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        68.281817
      ],
      "activity_state": "Wide",
      "activity_direction": "Expanding",
      "rotation_direction": "Improving",
      "price_acceptance": 0.833333
    },
    "latest_close": 72.6408,
    "trend_reference": 68.0845,
    "distance_from_trend": 0.066921,
    "trend_direction": "Improving",
    "fair_value": 64.607725,
    "distance_from_fair_value": 0.124336,
    "fair_value_direction": "Improving",
    "relative_strength": -5.338613,
    "relative_strength_direction": "Improving",
    "price_momentum": 0.069593,
    "excess_performance": -0.056031,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.066921,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.0008,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.124336,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.059881,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.053386,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.071979,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.069593,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 1.377057,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 30996,
      "relative_activity": 0.587806,
      "balance": 1.377057,
      "dry_up": 0.480219,
      "accumulation_observations": 1,
      "distribution_observations": 1
    },
    "risk": {
      "range_context": 0.021644,
      "annualized_volatility": 0.122479,
      "from_high_reference": -0.005057,
      "from_low_reference": 0.151384
    },
    "levels": {
      "trend_reference": 68.0845,
      "fair_value_reference": 64.607725,
      "structural_low": 63.09,
      "invalidation": "A decisive breakout above range resistance with renewed RS leadership invalidates the distribution reading; a range-low break confirms deterioration."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 4,
        "median_return": 0.015694,
        "positive_rate": 0.75,
        "directional_follow_through": 0.75,
        "median_excess_return": -0.001416,
        "regime_survival": 0.25,
        "best_return": 0.058109,
        "worst_return": -0.065444,
        "sufficient": false
      },
      {
        "horizon": "Intermediate",
        "sample_count": 3,
        "median_return": 0.008365,
        "positive_rate": 0.666667,
        "directional_follow_through": 0.666667,
        "median_excess_return": -0.01813,
        "regime_survival": 0.0,
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        "worst_return": -0.004322,
        "sufficient": false
      },
      {
        "horizon": "Extended",
        "sample_count": 3,
        "median_return": 0.081956,
        "positive_rate": 1.0,
        "directional_follow_through": 1.0,
        "median_excess_return": -0.041582,
        "regime_survival": 0.0,
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        "sufficient": false
      },
      {
        "horizon": "Full cycle",
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        "worst_return": -0.010108,
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    ],
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        "regime": "deceleration",
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        "end": "2025-01-10",
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        "active": false
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      {
        "regime": "rotation_down",
        "label": "Rotation Down",
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        "active": false
      },
      {
        "regime": "balance",
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        "tenure": "Developing",
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        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
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        "tenure": "Developing",
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      },
      {
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        "active": false
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      {
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        "active": false
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      {
        "regime": "upward_expansion",
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        "active": false
      },
      {
        "regime": "deceleration",
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        "color": "amber",
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        "end": "2025-11-28",
        "tenure": "Established",
        "return": 0.008081,
        "active": false
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        ]
      },
      {
        "date": "2026-04-24",
        "close": 67.86,
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        "typical_volume": 51237.15,
        "trend": 68.119463,
        "fair_value": 63.040113,
        "relative_strength": -9.804755,
        "stage": 3,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -31.384847,
        "energy": 18.295337,
        "activity_lines": [
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        ]
      },
      {
        "date": "2026-05-01",
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        "typical_volume": 52491.0,
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        "fair_value": 63.155904,
        "relative_strength": -9.890184,
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        "regime": "downward_expansion",
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        "direction": -19.636854,
        "energy": 19.489581,
        "activity_lines": [
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        ]
      },
      {
        "date": "2026-05-08",
        "close": 67.3467,
        "volume": 86735,
        "typical_volume": 54623.9,
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        "fair_value": 63.2687,
        "relative_strength": -12.536549,
        "stage": 3,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -20.302716,
        "energy": 20.797786,
        "activity_lines": [
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        ]
      },
      {
        "date": "2026-05-15",
        "close": 66.9873,
        "volume": 183391,
        "typical_volume": 62990.25,
        "trend": 68.095206,
        "fair_value": 63.375568,
        "relative_strength": -12.759191,
        "stage": 4,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -22.050427,
        "energy": 16.632485,
        "activity_lines": [
          67.495213,
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      },
      {
        "date": "2026-05-22",
        "close": 67.2,
        "volume": 93315,
        "typical_volume": 64428.65,
        "trend": 68.013581,
        "fair_value": 63.491675,
        "relative_strength": -12.812773,
        "stage": 4,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -23.360221,
        "energy": 12.495167,
        "activity_lines": [
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        ]
      },
      {
        "date": "2026-05-29",
        "close": 67.5332,
        "volume": 30045,
        "typical_volume": 63320.95,
        "trend": 68.030053,
        "fair_value": 63.601723,
        "relative_strength": -13.18692,
        "stage": 4,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -16.001852,
        "energy": 8.501005,
        "activity_lines": [
          67.350947,
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        ]
      },
      {
        "date": "2026-06-05",
        "close": 67.7762,
        "volume": 51574,
        "typical_volume": 61073.35,
        "trend": 68.033364,
        "fair_value": 63.709867,
        "relative_strength": -10.240409,
        "stage": 3,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -11.502017,
        "energy": 6.31635,
        "activity_lines": [
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      },
      {
        "date": "2026-06-12",
        "close": 68.9326,
        "volume": 27677,
        "typical_volume": 60885.95,
        "trend": 68.094076,
        "fair_value": 63.815592,
        "relative_strength": -8.858748,
        "stage": 3,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": 4.097562,
        "energy": 12.850231,
        "activity_lines": [
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      },
      {
        "date": "2026-06-19",
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        "trend": 68.089319,
        "fair_value": 63.915116,
        "relative_strength": -11.547737,
        "stage": 3,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -11.782676,
        "energy": 14.747369,
        "activity_lines": [
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        ]
      },
      {
        "date": "2026-06-26",
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        "volume": 26982,
        "typical_volume": 57803.35,
        "trend": 68.059926,
        "fair_value": 64.00956,
        "relative_strength": -7.860371,
        "stage": 3,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -6.806499,
        "energy": 14.652072,
        "activity_lines": [
          67.942393,
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      },
      {
        "date": "2026-07-03",
        "close": 68.7127,
        "volume": 16641,
        "typical_volume": 55474.4,
        "trend": 68.040948,
        "fair_value": 64.11395,
        "relative_strength": -8.598938,
        "stage": 3,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "mixed",
        "direction": 20.271401,
        "energy": 26.213623,
        "activity_lines": [
          68.210993,
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      },
      {
        "date": "2026-07-10",
        "close": 68.154,
        "volume": 29660,
        "typical_volume": 54868.55,
        "trend": 67.979419,
        "fair_value": 64.205473,
        "relative_strength": -10.185163,
        "stage": 3,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "mixed",
        "direction": 11.32322,
        "energy": 11.193183,
        "activity_lines": [
          68.214727,
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        ]
      },
      {
        "date": "2026-07-17",
        "close": 68.7565,
        "volume": 33072,
        "typical_volume": 54102.05,
        "trend": 67.953593,
        "fair_value": 64.293468,
        "relative_strength": -7.640652,
        "stage": 3,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "mixed",
        "direction": 29.179734,
        "energy": 29.143263,
        "activity_lines": [
          68.394107,
          68.186269,
          67.724804,
          67.672561
        ]
      },
      {
        "date": "2026-07-24",
        "close": 69.2631,
        "volume": 12435,
        "typical_volume": 53430.05,
        "trend": 67.927697,
        "fair_value": 64.383875,
        "relative_strength": -6.087357,
        "stage": 3,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "mixed",
        "direction": 34.49427,
        "energy": 41.432454,
        "activity_lines": [
          68.754093,
          68.427833,
          67.918813,
          67.757045
        ]
      },
      {
        "date": "2026-07-31",
        "close": 71.4371,
        "volume": 24788,
        "typical_volume": 53232.6,
        "trend": 68.016243,
        "fair_value": 64.492723,
        "relative_strength": -3.915894,
        "stage": 3,
        "regime": "rotation_up",
        "modifier": "Structural repair",
        "gate": "mixed",
        "direction": 56.330016,
        "energy": 64.129536,
        "activity_lines": [
          69.701873,
          69.023291,
          68.314683,
          67.983458
        ]
      },
      {
        "date": "2026-08-07",
        "close": 72.6408,
        "volume": 30996,
        "typical_volume": 52731.65,
        "trend": 68.0845,
        "fair_value": 64.607725,
        "relative_strength": -5.338613,
        "stage": 3,
        "regime": "rotation_up",
        "modifier": "Value reclamation",
        "gate": "up",
        "direction": 87.794786,
        "energy": 86.407649,
        "activity_lines": [
          70.827247,
          69.760565,
          68.79711,
          68.281817
        ]
      }
    ],
    "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."
    }
  }
}