{ "ticker": { "uuid": "e301f605-681e-465c-bd59-a14c164b1447", "symbol": "CPSN", "name": "CALAMOS S&P 500 STRUCTURED ALT PROTECTION ETF - NOVEMBER", "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": 67.3, "architecture_regime": "upward_expansion", "architecture_regime_label": "Upward Expansion", "architecture_modifier": "Established expansion", "architecture_gate": "up", "architecture_direction": 91.05, "architecture_energy": 88.119, "architecture_maturity": 33.354, "architecture_confidence": 76.322, "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": 5.06, "rotation_up": 74.84, "upward_expansion": 96.41, "deceleration": 41.97, "rotation_down": 21.76, "downward_expansion": 18.41 }, "activity_lines": [ 27.845053, 27.770791, 27.653402, 27.502122 ], "activity_state": "Wide", "activity_direction": "Expanding", "rotation_direction": "Weakening", "price_acceptance": 1.0 }, "latest_close": 27.97, "trend_reference": 27.321523, "distance_from_trend": 0.023735, "trend_direction": "Improving", "fair_value": 26.376266, "distance_from_fair_value": 0.060423, "fair_value_direction": "Improving", "relative_strength": -7.909779, "relative_strength_direction": "Improving", "price_momentum": 0.033812, "excess_performance": -0.091813, "evidence": [ { "label": "Price vs Trend", "positive": true, "value": 0.023735, "read": "Above" }, { "label": "Trend direction", "positive": true, "value": 0.010815, "read": "Rising" }, { "label": "Price vs current Fair Value", "positive": true, "value": 0.060423, "read": "Premium" }, { "label": "Fair Value direction", "positive": true, "value": 0.009768, "read": "Closing upward" }, { "label": "Relative Strength vs benchmark", "positive": false, "value": -0.079098, "read": "Lagging" }, { "label": "Relative strength direction", "positive": true, "value": 0.004105, "read": "Improving" }, { "label": "Price momentum", "positive": true, "value": 0.033812, "read": "Positive" }, { "label": "Volume balance", "positive": true, "value": 4.795013, "read": "Demand-led" } ], "volume": { "latest": 57244, "relative_activity": 4.100779, "balance": 4.795013, "dry_up": 1.590803, "accumulation_observations": 6, "distribution_observations": 1 }, "risk": { "range_context": 0.004001, "annualized_volatility": 0.025169, "from_high_reference": 0.0, "from_low_reference": 0.063984 }, "levels": { "trend_reference": 27.321523, "fair_value_reference": 26.376266, "structural_low": 26.6392, "invalidation": "A 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27.639225, 27.482506, 27.353517 ] }, { "date": "2026-07-17", "close": 27.745, "volume": 6932, "typical_volume": 10943.6, "trend": 27.23168, "fair_value": 26.327249, "relative_strength": -5.658154, "stage": 3, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 74.795119, "energy": 78.461048, "activity_lines": [ 27.712373, 27.665084, 27.523522, 27.388505 ] }, { "date": "2026-07-24", "close": 27.7404, "volume": 3509, "typical_volume": 10748.0, "trend": 27.258693, "fair_value": 26.342778, "relative_strength": -4.92738, "stage": 3, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 69.893047, "energy": 82.986171, "activity_lines": [ 27.73116, 27.685469, 27.560697, 27.421326 ] }, { "date": "2026-07-31", "close": 27.8299, "volume": 21141, "typical_volume": 11304.05, "trend": 27.288857, "fair_value": 26.358942, "relative_strength": -5.411246, "stage": 3, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 79.568531, "energy": 85.671752, "activity_lines": [ 27.77442, 27.717847, 27.60264, 27.458178 ] }, { "date": "2026-08-07", "close": 27.97, "volume": 57244, "typical_volume": 13959.3, "trend": 27.321523, "fair_value": 26.376266, "relative_strength": -7.909779, "stage": 3, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 91.05031, "energy": 88.118926, "activity_lines": [ 27.845053, 27.770791, 27.653402, 27.502122 ] } ], "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." } } }