{
  "ticker": {
    "uuid": "f40aa260-eeb0-402f-a1f1-32743c66c47b",
    "symbol": "DJUL",
    "name": "FT VEST U.S. EQUITY DEEP BUFFER ETF - JULY",
    "exchange": "CBOE",
    "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": 2,
    "stage_name": "Advancing",
    "phase": "2a",
    "phase_label": "Stage 2A \u00b7 Early advance",
    "transition": "stage_2_healthy",
    "transition_label": "Stage 2 trend intact",
    "confidence": 56.154,
    "architecture_regime": "upward_expansion",
    "architecture_regime_label": "Upward Expansion",
    "architecture_modifier": "Established expansion",
    "architecture_gate": "up",
    "architecture_direction": 95.292,
    "architecture_energy": 77.353,
    "architecture_maturity": 44.5,
    "architecture_confidence": 70.936,
    "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": 4.37,
        "rotation_up": 70.87,
        "upward_expansion": 87.67,
        "deceleration": 56.8,
        "rotation_down": 24.53,
        "downward_expansion": 12.0
      },
      "activity_lines": [
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      "activity_state": "Wide",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": 0.833333
    },
    "latest_close": 51.25,
    "trend_reference": 48.847073,
    "distance_from_trend": 0.049193,
    "trend_direction": "Improving",
    "fair_value": 42.420737,
    "distance_from_fair_value": 0.208136,
    "fair_value_direction": "Improving",
    "relative_strength": -4.815577,
    "relative_strength_direction": "Improving",
    "price_momentum": 0.068944,
    "excess_performance": -0.056681,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.049193,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.020753,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.208136,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.005274,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.048156,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.006003,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.068944,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 2.272423,
        "read": "Demand-led"
      }
    ],
    "volume": {
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      "relative_activity": 1.847404,
      "balance": 2.272423,
      "dry_up": 2.976815,
      "accumulation_observations": 3,
      "distribution_observations": 1
    },
    "risk": {
      "range_context": 0.006428,
      "annualized_volatility": 0.060242,
      "from_high_reference": -0.001364,
      "from_low_reference": 0.125624
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    "levels": {
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      "fair_value_reference": 42.420737,
      "structural_low": 45.96,
      "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": 37,
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        "positive_rate": 0.783784,
        "directional_follow_through": 0.783784,
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        "best_return": 0.046914,
        "worst_return": -0.040982,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
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        "worst_return": -0.057774,
        "sufficient": true
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        "horizon": "Extended",
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        "sufficient": true
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        "horizon": "Full cycle",
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        "regime": "downward_expansion",
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        "regime": "balance",
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        "modifier": "Structural repair",
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      },
      {
        "date": "2026-04-24",
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        "fair_value": 40.891569,
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        "date": "2026-05-01",
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        "fair_value": 40.998001,
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        "stage": 3,
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      },
      {
        "date": "2026-05-08",
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      },
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      },
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        "date": "2026-06-05",
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      },
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        "date": "2026-06-12",
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      },
      {
        "date": "2026-06-26",
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        "fair_value": 41.822838,
        "relative_strength": -2.398108,
        "stage": 2,
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        "energy": 78.730234,
        "activity_lines": [
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      },
      {
        "date": "2026-07-03",
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        "typical_volume": 45532.05,
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        "fair_value": 41.923159,
        "relative_strength": -3.950702,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
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        "energy": 88.340511,
        "activity_lines": [
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      },
      {
        "date": "2026-07-10",
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        "typical_volume": 47778.05,
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        "fair_value": 42.021428,
        "relative_strength": -4.861106,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
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        "energy": 91.807508,
        "activity_lines": [
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      },
      {
        "date": "2026-07-17",
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        "volume": 387979,
        "typical_volume": 65028.95,
        "trend": 48.55271,
        "fair_value": 42.119376,
        "relative_strength": -3.172299,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 79.50561,
        "energy": 92.178105,
        "activity_lines": [
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          49.088963
        ]
      },
      {
        "date": "2026-07-24",
        "close": 50.17,
        "volume": 355299,
        "typical_volume": 79838.6,
        "trend": 48.635377,
        "fair_value": 42.214633,
        "relative_strength": -2.811724,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 68.122884,
        "energy": 87.601509,
        "activity_lines": [
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          49.692299,
          49.193305
        ]
      },
      {
        "date": "2026-07-31",
        "close": 50.527,
        "volume": 144192,
        "typical_volume": 85268.55,
        "trend": 48.73494,
        "fair_value": 42.315146,
        "relative_strength": -3.02829,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 81.986777,
        "energy": 88.373526,
        "activity_lines": [
          50.3431,
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          49.832056,
          49.315345
        ]
      },
      {
        "date": "2026-08-07",
        "close": 51.25,
        "volume": 162976,
        "typical_volume": 88218.95,
        "trend": 48.847073,
        "fair_value": 42.420737,
        "relative_strength": -4.815577,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 95.291673,
        "energy": 77.352518,
        "activity_lines": [
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      }
    ],
    "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."
    }
  }
}