{
  "ticker": {
    "uuid": "09df3703-ca52-453c-87fd-15554219cd55",
    "symbol": "TDEX",
    "name": "ThaiDEX SET50",
    "exchange": "SET",
    "country": "TH",
    "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": "^SET.BK",
    "stage": 2,
    "stage_name": "Advancing",
    "phase": "2b",
    "phase_label": "Stage 2B \u00b7 Advancing",
    "transition": "stage_2_healthy",
    "transition_label": "Stage 2 trend intact",
    "confidence": 96.0,
    "architecture_regime": "upward_expansion",
    "architecture_regime_label": "Upward Expansion",
    "architecture_modifier": "Established expansion",
    "architecture_gate": "up",
    "architecture_direction": 69.897,
    "architecture_energy": 78.197,
    "architecture_maturity": 66.16,
    "architecture_confidence": 83.159,
    "architecture_tenure": "Extended",
    "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": 2.6,
        "rotation_up": 76.7,
        "upward_expansion": 94.95,
        "deceleration": 43.76,
        "rotation_down": 15.14,
        "downward_expansion": 16.95
      },
      "activity_lines": [
        10.634667,
        10.498545,
        10.233952,
        10.006405
      ],
      "activity_state": "Wide",
      "activity_direction": "Expanding",
      "rotation_direction": "Improving",
      "price_acceptance": 1.0
    },
    "latest_close": 10.64,
    "trend_reference": 9.655157,
    "distance_from_trend": 0.102002,
    "trend_direction": "Improving",
    "fair_value": 8.088604,
    "distance_from_fair_value": 0.315431,
    "fair_value_direction": "Improving",
    "relative_strength": 3.770054,
    "relative_strength_direction": "Improving",
    "price_momentum": 0.22722,
    "excess_performance": 0.034895,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.102002,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.091321,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.315431,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.090087,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.037701,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.008305,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.22722,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 3.768547,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 8362100,
      "relative_activity": 2.419852,
      "balance": 3.768547,
      "dry_up": 1.197193,
      "accumulation_observations": 4,
      "distribution_observations": 1
    },
    "risk": {
      "range_context": 0.021038,
      "annualized_volatility": 0.177992,
      "from_high_reference": -0.014815,
      "from_low_reference": 0.401636
    },
    "levels": {
      "trend_reference": 9.655157,
      "fair_value_reference": 8.088604,
      "structural_low": 8.64,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 28,
        "median_return": 0.014683,
        "positive_rate": 0.571429,
        "directional_follow_through": 0.571429,
        "median_excess_return": 0.006221,
        "regime_survival": 0.785714,
        "best_return": 0.135852,
        "worst_return": -0.03753,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 9,
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        "positive_rate": 0.777778,
        "directional_follow_through": 0.777778,
        "median_excess_return": 0.01896,
        "regime_survival": 0.333333,
        "best_return": 0.137234,
        "worst_return": -0.058577,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 6,
        "median_return": 0.038567,
        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
        "median_excess_return": 0.048378,
        "regime_survival": 0.5,
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        "worst_return": -0.191774,
        "sufficient": true
      },
      {
        "horizon": "Full cycle",
        "sample_count": 3,
        "median_return": -0.060419,
        "positive_rate": 0.333333,
        "directional_follow_through": 0.333333,
        "median_excess_return": 0.064227,
        "regime_survival": 0.0,
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        "worst_return": -0.083547,
        "sufficient": false
      }
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        "regime": "balance",
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      {
        "regime": "rotation_down",
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      {
        "regime": "downward_expansion",
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        "date": "2026-04-24",
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        "date": "2026-06-05",
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      },
      {
        "date": "2026-07-03",
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      },
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      },
      {
        "date": "2026-07-17",
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        "volume": 4564000,
        "typical_volume": 4283665.0,
        "trend": 9.389166,
        "fair_value": 8.042515,
        "relative_strength": 2.580114,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 87.946669,
        "energy": 76.250307,
        "activity_lines": [
          10.414,
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          10.003714,
          9.77833
        ]
      },
      {
        "date": "2026-07-24",
        "close": 10.69,
        "volume": 1478900,
        "typical_volume": 3498565.0,
        "trend": 9.478619,
        "fair_value": 8.057864,
        "relative_strength": 2.664461,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 83.253068,
        "energy": 88.6841,
        "activity_lines": [
          10.54,
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          10.091143,
          9.862255
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      },
      {
        "date": "2026-07-31",
        "close": 10.64,
        "volume": 2143200,
        "typical_volume": 3354840.0,
        "trend": 9.567049,
        "fair_value": 8.073291,
        "relative_strength": 3.211738,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 71.253104,
        "energy": 81.927668,
        "activity_lines": [
          10.61,
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          9.937183
        ]
      },
      {
        "date": "2026-08-07",
        "close": 10.64,
        "volume": 8362100,
        "typical_volume": 3455625.0,
        "trend": 9.655157,
        "fair_value": 8.088604,
        "relative_strength": 3.770054,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 69.897455,
        "energy": 78.197429,
        "activity_lines": [
          10.634667,
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          10.233952,
          10.006405
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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."
    }
  }
}