{
  "ticker": {
    "uuid": "090ab26a-9ab8-4443-ad36-8edf23bd2914",
    "symbol": "XCX3",
    "name": "Xtrackers MSCI Malaysia UCITS ETF 1C",
    "exchange": "LSE",
    "country": "GB",
    "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": "^FTSE",
    "stage": 3,
    "stage_name": "Distribution",
    "phase": "3c",
    "phase_label": "Stage 3C \u00b7 Breakdown watch",
    "transition": "stage_3_to_4_watch",
    "transition_label": "Stage 3 \u2192 4 watch",
    "confidence": 91.09,
    "architecture_regime": "downward_expansion",
    "architecture_regime_label": "Downward Expansion",
    "architecture_modifier": "Early contraction",
    "architecture_gate": "down",
    "architecture_direction": -30.975,
    "architecture_energy": 18.517,
    "architecture_maturity": 31.622,
    "architecture_confidence": 60.175,
    "architecture_tenure": "New",
    "architecture": {
      "interpretation": {
        "headline": "The weekly architecture is expanding downward.",
        "body": "Trend and Activity show sustained negative alignment with weak price acceptance. Repair requires persistent improvement across the structure, not merely one strong observation."
      },
      "scores": {
        "balance": 51.37,
        "rotation_up": 30.81,
        "upward_expansion": 19.86,
        "deceleration": 41.9,
        "rotation_down": 27.4,
        "downward_expansion": 56.19
      },
      "activity_lines": [
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      "activity_state": "Compressed",
      "activity_direction": "Contracting",
      "rotation_direction": "Improving",
      "price_acceptance": -0.166667
    },
    "latest_close": 1090.0,
    "trend_reference": 1094.416667,
    "distance_from_trend": -0.004036,
    "trend_direction": "Improving",
    "fair_value": 931.072551,
    "distance_from_fair_value": 0.170693,
    "fair_value_direction": "Weakening",
    "relative_strength": -4.522733,
    "relative_strength_direction": "Weakening",
    "price_momentum": -0.014689,
    "excess_performance": -0.065925,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": false,
        "value": -0.004036,
        "read": "Below"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.016821,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.170693,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.08069,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.045227,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.106715,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": false,
        "value": -0.014689,
        "read": "Negative"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 1.059714,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 47193,
      "relative_activity": 1.507174,
      "balance": 1.059714,
      "dry_up": 0.962235,
      "accumulation_observations": 2,
      "distribution_observations": 3
    },
    "risk": {
      "range_context": 0.023881,
      "annualized_volatility": 0.101985,
      "from_high_reference": -0.155785,
      "from_low_reference": 0.192886
    },
    "levels": {
      "trend_reference": 1094.416667,
      "fair_value_reference": 931.072551,
      "structural_low": 1054.972,
      "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": 16,
        "median_return": 0.008122,
        "positive_rate": 0.5625,
        "directional_follow_through": 0.4375,
        "median_excess_return": 0.00605,
        "regime_survival": 0.6875,
        "best_return": 0.084431,
        "worst_return": -0.060087,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 7,
        "median_return": 0.007014,
        "positive_rate": 0.571429,
        "directional_follow_through": 0.428571,
        "median_excess_return": 0.008513,
        "regime_survival": 0.428571,
        "best_return": 0.078009,
        "worst_return": -0.017079,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 4,
        "median_return": 0.030694,
        "positive_rate": 0.75,
        "directional_follow_through": 0.25,
        "median_excess_return": -0.011725,
        "regime_survival": 0.0,
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        "worst_return": -0.010185,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
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        "median_return": 0.09925,
        "positive_rate": 0.75,
        "directional_follow_through": 0.25,
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        "best_return": 0.250567,
        "worst_return": -0.080382,
        "sufficient": false
      }
    ],
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        "start": "2024-03-01",
        "end": "2024-10-25",
        "tenure": "Extended",
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        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2024-11-01",
        "end": "2025-02-21",
        "tenure": "Established",
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      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
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        "return": -0.038817,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
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        "start": "2025-03-14",
        "end": "2025-07-11",
        "tenure": "Established",
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        "active": false
      },
      {
        "regime": "balance",
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        "tenure": "New",
        "return": 0.020708,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
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        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
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        "end": "2025-11-14",
        "tenure": "Developing",
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        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
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        "tenure": "Developing",
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        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
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        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
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        "end": "2026-05-08",
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        "return": 0.032862,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
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      {
        "regime": "balance",
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      {
        "regime": "rotation_down",
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        "active": false
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      {
        "regime": "downward_expansion",
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        "active": true
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        "modifier": "Recompressing",
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      },
      {
        "date": "2026-04-17",
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        "typical_volume": 71224.65,
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      },
      {
        "date": "2026-04-24",
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      },
      {
        "date": "2026-05-01",
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      },
      {
        "date": "2026-05-08",
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      },
      {
        "date": "2026-05-15",
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        "relative_strength": 7.112582,
        "stage": 2,
        "regime": "upward_expansion",
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      },
      {
        "date": "2026-05-22",
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      },
      {
        "date": "2026-05-29",
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      },
      {
        "date": "2026-06-05",
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        "relative_strength": -1.352912,
        "stage": 2,
        "regime": "balance",
        "modifier": "Upper balance after advance",
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      },
      {
        "date": "2026-06-12",
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      {
        "date": "2026-06-19",
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      },
      {
        "date": "2026-06-26",
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        "stage": 3,
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      },
      {
        "date": "2026-07-03",
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        "fair_value": 921.203962,
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      },
      {
        "date": "2026-07-10",
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        "fair_value": 923.231205,
        "relative_strength": -3.056131,
        "stage": 3,
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        "gate": "mixed",
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        "energy": 43.491006,
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      },
      {
        "date": "2026-07-17",
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        "volume": 16447,
        "typical_volume": 35053.15,
        "trend": 1090.425,
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        "relative_strength": -2.294331,
        "stage": 3,
        "regime": "rotation_down",
        "modifier": "Supply rotation",
        "gate": "mixed",
        "direction": -27.570097,
        "energy": 25.17223,
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          1072.5,
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        ]
      },
      {
        "date": "2026-07-24",
        "close": 1078.75,
        "volume": 44333,
        "typical_volume": 34480.6,
        "trend": 1091.7,
        "fair_value": 927.205564,
        "relative_strength": -4.066808,
        "stage": 3,
        "regime": "rotation_down",
        "modifier": "Structural failure",
        "gate": "down",
        "direction": -41.928504,
        "energy": 26.055012,
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          1074.683333,
          1073.918182,
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      },
      {
        "date": "2026-07-31",
        "close": 1079.5,
        "volume": 12546,
        "typical_volume": 30638.45,
        "trend": 1093.125,
        "fair_value": 929.099795,
        "relative_strength": -5.159942,
        "stage": 3,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -38.9438,
        "energy": 20.858002,
        "activity_lines": [
          1077.35,
          1074.468182,
          1084.253571,
          1089.808602
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      },
      {
        "date": "2026-08-07",
        "close": 1090.0,
        "volume": 47193,
        "typical_volume": 31312.25,
        "trend": 1094.416667,
        "fair_value": 931.072551,
        "relative_strength": -4.522733,
        "stage": 3,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -30.974686,
        "energy": 18.516631,
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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."
    }
  }
}