{
  "ticker": {
    "uuid": "05361bfb-5429-4687-b758-91d99ce76bf8",
    "symbol": "204480",
    "name": "Mirae Asset TIGER Synth-China A Leverage",
    "exchange": "KSC",
    "country": "KR",
    "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": "^KS11",
    "stage": 4,
    "stage_name": "Declining",
    "phase": "4a",
    "phase_label": "Stage 4A \u00b7 Breakdown",
    "transition": "stage_4_declining",
    "transition_label": "Stage 4 decline intact",
    "confidence": 71.857,
    "architecture_regime": "rotation_down",
    "architecture_regime_label": "Rotation Down",
    "architecture_modifier": "Supply rotation",
    "architecture_gate": "mixed",
    "architecture_direction": -36.859,
    "architecture_energy": 52.82,
    "architecture_maturity": 11.219,
    "architecture_confidence": 79.725,
    "architecture_tenure": "New",
    "architecture": {
      "interpretation": {
        "headline": "The Activity Line structure is rotating downward.",
        "body": "Fast Activity is weakening relative to Slow Activity and price acceptance is deteriorating. Persistent negative Trend confirmation would establish Downward Expansion."
      },
      "scores": {
        "balance": 30.0,
        "rotation_up": 14.03,
        "upward_expansion": 22.12,
        "deceleration": 56.31,
        "rotation_down": 73.1,
        "downward_expansion": 49.45
      },
      "activity_lines": [
        27993.0,
        30252.090909,
        31406.333333,
        31036.344086
      ],
      "activity_state": "Moderate",
      "activity_direction": "Expanding",
      "rotation_direction": "Weakening",
      "price_acceptance": -0.666667
    },
    "latest_close": 26890.0,
    "trend_reference": 30392.333333,
    "distance_from_trend": -0.115237,
    "trend_direction": "Improving",
    "fair_value": 19923.938439,
    "distance_from_fair_value": 0.349633,
    "fair_value_direction": "Weakening",
    "relative_strength": -22.36468,
    "relative_strength_direction": "Improving",
    "price_momentum": -0.054833,
    "excess_performance": -0.284662,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": false,
        "value": -0.115237,
        "read": "Below"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.05625,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.349633,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.346086,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.223647,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.063366,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": false,
        "value": -0.054833,
        "read": "Negative"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 1.726884,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 16651,
      "relative_activity": 0.594837,
      "balance": 1.726884,
      "dry_up": 0.79514,
      "accumulation_observations": 3,
      "distribution_observations": 1
    },
    "risk": {
      "range_context": 0.09875,
      "annualized_volatility": 0.280929,
      "from_high_reference": -0.277636,
      "from_low_reference": 0.441629
    },
    "levels": {
      "trend_reference": 30392.333333,
      "fair_value_reference": 19923.938439,
      "structural_low": 25285.0,
      "invalidation": "Reclaiming a flat-to-rising Trend with improving relative strength is required before the declining diagnosis is repaired."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 3,
        "median_return": -0.041077,
        "positive_rate": 0.0,
        "directional_follow_through": 1.0,
        "median_excess_return": -0.026823,
        "regime_survival": 0.0,
        "best_return": -0.03325,
        "worst_return": -0.0879,
        "sufficient": false
      },
      {
        "horizon": "Intermediate",
        "sample_count": 3,
        "median_return": -0.093811,
        "positive_rate": 0.333333,
        "directional_follow_through": 0.666667,
        "median_excess_return": -0.079337,
        "regime_survival": 0.0,
        "best_return": 0.533866,
        "worst_return": -0.297076,
        "sufficient": false
      },
      {
        "horizon": "Extended",
        "sample_count": 3,
        "median_return": -0.196992,
        "positive_rate": 0.333333,
        "directional_follow_through": 0.666667,
        "median_excess_return": -0.102652,
        "regime_survival": 0.0,
        "best_return": 0.407915,
        "worst_return": -0.234249,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
        "sample_count": 3,
        "median_return": -0.143769,
        "positive_rate": 0.333333,
        "directional_follow_through": 0.666667,
        "median_excess_return": -0.157285,
        "regime_survival": 0.0,
        "best_return": 0.440639,
        "worst_return": -0.313283,
        "sufficient": false
      }
    ],
    "ledger": [
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2024-08-09",
        "end": "2024-08-30",
        "tenure": "New",
        "return": -0.033866,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2024-09-06",
        "end": "2024-09-20",
        "tenure": "New",
        "return": -0.0267,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
        "start": "2024-09-27",
        "end": "2024-10-18",
        "tenure": "New",
        "return": 0.204945,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2024-10-25",
        "end": "2025-01-10",
        "tenure": "Developing",
        "return": -0.056999,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2025-01-17",
        "end": "2025-02-21",
        "tenure": "Developing",
        "return": 0.069165,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-02-28",
        "end": "2025-04-04",
        "tenure": "Developing",
        "return": -0.063262,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-04-11",
        "end": "2025-04-25",
        "tenure": "New",
        "return": -0.002924,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2025-05-02",
        "end": "2025-07-25",
        "tenure": "Established",
        "return": 0.14329,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
        "start": "2025-08-01",
        "end": "2025-08-29",
        "tenure": "Developing",
        "return": 0.2332,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-09-05",
        "end": "2026-02-20",
        "tenure": "Established",
        "return": 0.22556,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2026-02-27",
        "end": "2026-03-13",
        "tenure": "New",
        "return": 0.05471,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2026-03-20",
        "end": "2026-07-17",
        "tenure": "Established",
        "return": 0.028047,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2026-07-24",
        "end": "2026-07-31",
        "tenure": "New",
        "return": -0.075312,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2026-08-07",
        "end": "2026-08-07",
        "tenure": "New",
        "return": 0.0,
        "active": true
      }
    ],
    "chart_path": [
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        "date": "2023-08-18",
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      },
      {
        "date": "2026-07-17",
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      },
      {
        "date": "2026-07-24",
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        "volume": 20401,
        "typical_volume": 32155.4,
        "trend": 30463.166667,
        "fair_value": 19813.506911,
        "relative_strength": -22.923073,
        "stage": 3,
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      },
      {
        "date": "2026-07-31",
        "close": 26705.0,
        "volume": 19001,
        "typical_volume": 28807.25,
        "trend": 30454.833333,
        "fair_value": 19865.09365,
        "relative_strength": -27.227339,
        "stage": 3,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "mixed",
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        "energy": 43.997558,
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      },
      {
        "date": "2026-08-07",
        "close": 26890.0,
        "volume": 16651,
        "typical_volume": 27992.55,
        "trend": 30392.333333,
        "fair_value": 19923.938439,
        "relative_strength": -22.36468,
        "stage": 4,
        "regime": "rotation_down",
        "modifier": "Supply rotation",
        "gate": "mixed",
        "direction": -36.859299,
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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."
    }
  }
}