{
  "ticker": {
    "uuid": "f25d274a-eafb-4c4e-908e-0a7fb0c8d91b",
    "symbol": "SKYY",
    "name": "First Trust Cloud Computing 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": "2c",
    "phase_label": "Stage 2C \u00b7 Late 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": "Early expansion",
    "architecture_gate": "up",
    "architecture_direction": 90.612,
    "architecture_energy": 77.175,
    "architecture_maturity": 36.0,
    "architecture_confidence": 83.058,
    "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": 28.02,
        "rotation_up": 70.35,
        "upward_expansion": 88.13,
        "deceleration": 51.04,
        "rotation_down": 17.71,
        "downward_expansion": 14.79
      },
      "activity_lines": [
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      "activity_state": "Moderate",
      "activity_direction": "Expanding",
      "rotation_direction": "Improving",
      "price_acceptance": 0.666667
    },
    "latest_close": 38.240002,
    "trend_reference": 30.298667,
    "distance_from_trend": 0.262102,
    "trend_direction": "Improving",
    "fair_value": 26.599359,
    "distance_from_fair_value": 0.437629,
    "fair_value_direction": "Improving",
    "relative_strength": 9.178574,
    "relative_strength_direction": "Improving",
    "price_momentum": 0.421561,
    "excess_performance": 0.30114,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.262102,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.022751,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.437629,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.223324,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.091786,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.182494,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.421561,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 1.163866,
        "read": "Demand-led"
      }
    ],
    "volume": {
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      "relative_activity": 0.471281,
      "balance": 1.163866,
      "dry_up": 1.435935,
      "accumulation_observations": 3,
      "distribution_observations": 1
    },
    "risk": {
      "range_context": 0.045422,
      "annualized_volatility": 0.343762,
      "from_high_reference": 0.0,
      "from_low_reference": 0.507292
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    "levels": {
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      "structural_low": 25.370001,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
    },
    "outcomes": [
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        "horizon": "Near term",
        "sample_count": 30,
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        "positive_rate": 0.6,
        "directional_follow_through": 0.6,
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        "regime_survival": 0.733333,
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        "worst_return": -0.143519,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
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        "worst_return": -0.219957,
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      },
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          27.516546,
          27.635333,
          28.517936
        ]
      },
      {
        "date": "2026-05-08",
        "close": 30.690001,
        "volume": 300,
        "typical_volume": 3540.0,
        "trend": 29.768667,
        "fair_value": 25.273718,
        "relative_strength": -9.070845,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": 20.053292,
        "energy": 35.300187,
        "activity_lines": [
          29.199334,
          28.162546,
          27.85581,
          28.572602
        ]
      },
      {
        "date": "2026-05-15",
        "close": 30.950001,
        "volume": 4100,
        "typical_volume": 3700.0,
        "trend": 29.707667,
        "fair_value": 25.368205,
        "relative_strength": -7.297015,
        "stage": 4,
        "regime": "rotation_up",
        "modifier": "Structural repair",
        "gate": "mixed",
        "direction": 39.107487,
        "energy": 58.775343,
        "activity_lines": [
          30.048001,
          28.771091,
          28.107715,
          28.648817
        ]
      },
      {
        "date": "2026-05-22",
        "close": 32.189999,
        "volume": 500,
        "typical_volume": 3590.0,
        "trend": 29.640667,
        "fair_value": 25.468077,
        "relative_strength": -5.138622,
        "stage": 3,
        "regime": "rotation_up",
        "modifier": "Value reclamation",
        "gate": "mixed",
        "direction": 48.388905,
        "energy": 75.218897,
        "activity_lines": [
          30.938,
          29.533091,
          28.481714,
          28.808968
        ]
      },
      {
        "date": "2026-05-29",
        "close": 34.66,
        "volume": 10100,
        "typical_volume": 3930.0,
        "trend": 29.624667,
        "fair_value": 25.57891,
        "relative_strength": 1.366873,
        "stage": 3,
        "regime": "rotation_up",
        "modifier": "Value reclamation",
        "gate": "mixed",
        "direction": 57.823355,
        "energy": 84.357687,
        "activity_lines": [
          32.391333,
          30.647273,
          29.084429,
          29.132796
        ]
      },
      {
        "date": "2026-06-05",
        "close": 34.68,
        "volume": 1600,
        "typical_volume": 3880.0,
        "trend": 29.655667,
        "fair_value": 25.689487,
        "relative_strength": 2.624233,
        "stage": 3,
        "regime": "rotation_up",
        "modifier": "Value reclamation",
        "gate": "mixed",
        "direction": 62.508073,
        "energy": 86.489426,
        "activity_lines": [
          33.413333,
          31.632727,
          29.673905,
          29.458946
        ]
      },
      {
        "date": "2026-06-12",
        "close": 33.099998,
        "volume": 3000,
        "typical_volume": 3900.0,
        "trend": 29.673667,
        "fair_value": 25.785,
        "relative_strength": -3.347184,
        "stage": 3,
        "regime": "rotation_up",
        "modifier": "Value reclamation",
        "gate": "up",
        "direction": 68.24149,
        "energy": 88.080097,
        "activity_lines": [
          33.568666,
          32.171272,
          30.092524,
          29.681161
        ]
      },
      {
        "date": "2026-06-19",
        "close": 32.959999,
        "volume": 600,
        "typical_volume": 3810.0,
        "trend": 29.744,
        "fair_value": 25.885064,
        "relative_strength": -3.637633,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 66.719293,
        "energy": 86.229713,
        "activity_lines": [
          33.516666,
          32.571272,
          30.481286,
          29.893183
        ]
      },
      {
        "date": "2026-06-26",
        "close": 31.41,
        "volume": 3100,
        "typical_volume": 3840.0,
        "trend": 29.739333,
        "fair_value": 25.974167,
        "relative_strength": -7.870489,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 63.079506,
        "energy": 59.735011,
        "activity_lines": [
          32.813999,
          32.551454,
          30.701238,
          30.000667
        ]
      },
      {
        "date": "2026-07-03",
        "close": 33.369999,
        "volume": 400,
        "typical_volume": 3675.0,
        "trend": 29.782667,
        "fair_value": 26.075128,
        "relative_strength": -2.578897,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 58.980224,
        "energy": 48.732914,
        "activity_lines": [
          32.816666,
          32.831272,
          31.086381,
          30.234903
        ]
      },
      {
        "date": "2026-07-10",
        "close": 34.779999,
        "volume": 8600,
        "typical_volume": 3845.0,
        "trend": 29.876333,
        "fair_value": 26.180449,
        "relative_strength": 1.528207,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 79.803769,
        "energy": 59.285691,
        "activity_lines": [
          33.375332,
          33.271454,
          31.577333,
          30.557312
        ]
      },
      {
        "date": "2026-07-17",
        "close": 33.470001,
        "volume": 14800,
        "typical_volume": 4020.0,
        "trend": 29.922333,
        "fair_value": 26.277308,
        "relative_strength": -1.911025,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 59.322885,
        "energy": 53.204262,
        "activity_lines": [
          33.490666,
          33.378909,
          31.907047,
          30.789161
        ]
      },
      {
        "date": "2026-07-24",
        "close": 32.009998,
        "volume": 2300,
        "typical_volume": 3875.0,
        "trend": 29.929667,
        "fair_value": 26.364038,
        "relative_strength": -6.116144,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 49.316819,
        "energy": 45.721662,
        "activity_lines": [
          33.094666,
          33.170363,
          32.062285,
          30.923849
        ]
      },
      {
        "date": "2026-07-31",
        "close": 35.130001,
        "volume": 800,
        "typical_volume": 3770.0,
        "trend": 30.073333,
        "fair_value": 26.471218,
        "relative_strength": 3.592401,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 78.491067,
        "energy": 58.42463,
        "activity_lines": [
          33.802,
          33.509818,
          32.490762,
          31.259355
        ]
      },
      {
        "date": "2026-08-07",
        "close": 38.240002,
        "volume": 1600,
        "typical_volume": 3395.0,
        "trend": 30.298667,
        "fair_value": 26.599359,
        "relative_strength": 9.178574,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 90.612121,
        "energy": 77.174627,
        "activity_lines": [
          35.298001,
          34.361273,
          33.176048,
          31.786237
        ]
      }
    ],
    "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."
    }
  }
}