{
  "ticker": {
    "uuid": "11b586a8-7db4-4133-8ace-b61c50b7c6c4",
    "symbol": "261270",
    "name": "KODEX USD Futures",
    "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": 1,
    "stage_name": "Basing",
    "phase": "1b",
    "phase_label": "Stage 1B \u00b7 Basing",
    "transition": "stage_1_building",
    "transition_label": "Base still building",
    "confidence": 66.24,
    "architecture_regime": "rotation_up",
    "architecture_regime_label": "Rotation Up",
    "architecture_modifier": "Structural repair",
    "architecture_gate": "mixed",
    "architecture_direction": 49.157,
    "architecture_energy": 72.634,
    "architecture_maturity": 5.58,
    "architecture_confidence": 70.167,
    "architecture_tenure": "New",
    "architecture": {
      "interpretation": {
        "headline": "The Activity Line structure is rotating upward.",
        "body": "Fast Activity is improving relative to Slow Activity and price acceptance is strengthening. This is earlier than full positive Trend confirmation and remains a developing repair."
      },
      "scores": {
        "balance": 20.46,
        "rotation_up": 76.97,
        "upward_expansion": 56.89,
        "deceleration": 18.17,
        "rotation_down": 14.02,
        "downward_expansion": 29.56
      },
      "activity_lines": [
        7729.333333,
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        7501.833333,
        7507.064516
      ],
      "activity_state": "Wide",
      "activity_direction": "Expanding",
      "rotation_direction": "Improving",
      "price_acceptance": 0.666667
    },
    "latest_close": 7875.0,
    "trend_reference": 7537.666667,
    "distance_from_trend": 0.044753,
    "trend_direction": "Weakening",
    "fair_value": 8065.737179,
    "distance_from_fair_value": -0.023648,
    "fair_value_direction": "Improving",
    "relative_strength": -20.14129,
    "relative_strength_direction": "Improving",
    "price_momentum": 0.03211,
    "excess_performance": -0.197718,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.044753,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": false,
        "value": -0.008723,
        "read": "Falling"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": false,
        "value": -0.023648,
        "read": "Below anchor"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.045133,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.201413,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.296506,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.03211,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 1.561172,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 208024,
      "relative_activity": 0.430701,
      "balance": 1.561172,
      "dry_up": 0.935768,
      "accumulation_observations": 4,
      "distribution_observations": 2
    },
    "risk": {
      "range_context": 0.01851,
      "annualized_volatility": 0.092186,
      "from_high_reference": -0.036108,
      "from_low_reference": 0.09375
    },
    "levels": {
      "trend_reference": 7537.666667,
      "fair_value_reference": 8065.737179,
      "structural_low": 7200.0,
      "invalidation": "A renewed decline below the structural range low, widening the discount to current Fair Value while Trend falls, weakens the base diagnosis."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 8,
        "median_return": 0.011934,
        "positive_rate": 0.625,
        "directional_follow_through": 0.625,
        "median_excess_return": -0.012829,
        "regime_survival": 0.375,
        "best_return": 0.033426,
        "worst_return": -0.050058,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 5,
        "median_return": -0.020725,
        "positive_rate": 0.2,
        "directional_follow_through": 0.2,
        "median_excess_return": -0.020017,
        "regime_survival": 0.0,
        "best_return": 0.004334,
        "worst_return": -0.057963,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 4,
        "median_return": -0.04511,
        "positive_rate": 0.25,
        "directional_follow_through": 0.25,
        "median_excess_return": -0.067888,
        "regime_survival": 0.0,
        "best_return": 0.003995,
        "worst_return": -0.087161,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
        "sample_count": 3,
        "median_return": -0.057585,
        "positive_rate": 0.0,
        "directional_follow_through": 0.0,
        "median_excess_return": -0.064762,
        "regime_survival": 0.333333,
        "best_return": -0.010845,
        "worst_return": -0.0779,
        "sufficient": false
      }
    ],
    "ledger": [
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
        "start": "2024-08-30",
        "end": "2024-09-27",
        "tenure": "Developing",
        "return": 0.011779,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2024-10-04",
        "end": "2024-10-18",
        "tenure": "New",
        "return": -0.027647,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2024-10-25",
        "end": "2024-11-08",
        "tenure": "New",
        "return": 0.001225,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2024-11-15",
        "end": "2024-11-29",
        "tenure": "New",
        "return": 0.003092,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2024-12-06",
        "end": "2025-04-11",
        "tenure": "Established",
        "return": -0.022528,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-04-18",
        "end": "2025-05-02",
        "tenure": "New",
        "return": 0.009428,
        "active": false
      },
      {
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        "tenure": "New",
        "return": 0.014241,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
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        "end": "2025-07-18",
        "tenure": "Developing",
        "return": -0.026506,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
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        "end": "2025-09-26",
        "tenure": "Developing",
        "return": -0.026284,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2025-10-03",
        "end": "2025-10-24",
        "tenure": "New",
        "return": -0.024329,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
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        "end": "2026-02-13",
        "tenure": "Established",
        "return": -0.015863,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2026-02-20",
        "end": "2026-03-20",
        "tenure": "Developing",
        "return": -0.036152,
        "active": false
      },
      {
        "regime": "downward_expansion",
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        "return": 0.052525,
        "active": false
      },
      {
        "regime": "rotation_up",
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        "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",
        "close": 7605.0,
        "volume": 499832,
        "typical_volume": 566570.1,
        "trend": 7530.0,
        "fair_value": 8075.769231,
        "relative_strength": -30.126308,
        "stage": 1,
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      },
      {
        "date": "2026-07-31",
        "close": 7815.0,
        "volume": 481415,
        "typical_volume": 530526.65,
        "trend": 7531.666667,
        "fair_value": 8070.25641,
        "relative_strength": -25.941641,
        "stage": 1,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "mixed",
        "direction": 45.01029,
        "energy": 45.287843,
        "activity_lines": [
          7616.333333,
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      },
      {
        "date": "2026-08-07",
        "close": 7875.0,
        "volume": 208024,
        "typical_volume": 482988.9,
        "trend": 7537.666667,
        "fair_value": 8065.737179,
        "relative_strength": -20.14129,
        "stage": 1,
        "regime": "rotation_up",
        "modifier": "Structural repair",
        "gate": "mixed",
        "direction": 49.157112,
        "energy": 72.634274,
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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."
    }
  }
}