{
  "ticker": {
    "uuid": "1a894319-8aca-4f19-b0f5-c764352d4292",
    "symbol": "EWL",
    "name": "iShares MSCI Switzerland ETF",
    "exchange": "MEX",
    "country": "MX",
    "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": "^MXX",
    "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": 57.7,
    "architecture_regime": "upward_expansion",
    "architecture_regime_label": "Upward Expansion",
    "architecture_modifier": "Early expansion",
    "architecture_gate": "up",
    "architecture_direction": 75.318,
    "architecture_energy": 51.369,
    "architecture_maturity": 8.091,
    "architecture_confidence": 83.398,
    "architecture_tenure": "New",
    "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": 17.89,
        "rotation_up": 62.9,
        "upward_expansion": 82.42,
        "deceleration": 54.57,
        "rotation_down": 19.51,
        "downward_expansion": 6.75
      },
      "activity_lines": [
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      "activity_state": "Moderate",
      "activity_direction": "Stable",
      "rotation_direction": "Stable",
      "price_acceptance": 0.833333
    },
    "latest_close": 1106.939941,
    "trend_reference": 1070.676969,
    "distance_from_trend": 0.033869,
    "trend_direction": "Improving",
    "fair_value": 950.237814,
    "distance_from_fair_value": 0.164908,
    "fair_value_direction": "Improving",
    "relative_strength": 2.110646,
    "relative_strength_direction": "Improving",
    "price_momentum": 0.020315,
    "excess_performance": 0.074982,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.033869,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.006411,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.164908,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.036027,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.021106,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.121265,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.020315,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 63.68617,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 706,
      "relative_activity": 0.105696,
      "balance": 63.68617,
      "dry_up": 2.648794,
      "accumulation_observations": 1,
      "distribution_observations": 0
    },
    "risk": {
      "range_context": 0.016288,
      "annualized_volatility": 0.130705,
      "from_high_reference": -0.006944,
      "from_low_reference": 0.108048
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    "levels": {
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      "fair_value_reference": 950.237814,
      "structural_low": 1023.0,
      "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": 27,
        "median_return": -0.008914,
        "positive_rate": 0.37037,
        "directional_follow_through": 0.37037,
        "median_excess_return": -0.01671,
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        "worst_return": -0.071636,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
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        "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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        "modifier": "Supply rotation",
        "gate": "mixed",
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        "activity_lines": [
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      },
      {
        "date": "2026-04-10",
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      },
      {
        "date": "2026-04-17",
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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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      },
      {
        "date": "2026-05-22",
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      },
      {
        "date": "2026-05-29",
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        "trend": 1063.856274,
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        "relative_strength": -4.336197,
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      },
      {
        "date": "2026-06-05",
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      },
      {
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      {
        "date": "2026-06-19",
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      },
      {
        "date": "2026-06-26",
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        "volume": 12,
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        "trend": 1066.069307,
        "fair_value": 938.034128,
        "relative_strength": -0.141239,
        "stage": 3,
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      },
      {
        "date": "2026-07-03",
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        "volume": 0,
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        "trend": 1067.262309,
        "fair_value": 940.230069,
        "relative_strength": 0.482118,
        "stage": 3,
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        "gate": "mixed",
        "direction": 37.918921,
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      },
      {
        "date": "2026-07-10",
        "close": 1102.5,
        "volume": 63,
        "typical_volume": 3414.2,
        "trend": 1068.96064,
        "fair_value": 942.274882,
        "relative_strength": 1.96472,
        "stage": 3,
        "regime": "rotation_up",
        "modifier": "Structural repair",
        "gate": "mixed",
        "direction": 38.42622,
        "energy": 65.304873,
        "activity_lines": [
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      },
      {
        "date": "2026-07-17",
        "close": 1102.5,
        "volume": 0,
        "typical_volume": 3347.2,
        "trend": 1069.943974,
        "fair_value": 944.295436,
        "relative_strength": 1.94388,
        "stage": 2,
        "regime": "rotation_up",
        "modifier": "Value reclamation",
        "gate": "mixed",
        "direction": 45.199764,
        "energy": 74.994473,
        "activity_lines": [
          1098.156014,
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          1070.831203,
          1069.460052
        ]
      },
      {
        "date": "2026-07-24",
        "close": 1074.0,
        "volume": 1128,
        "typical_volume": 3209.7,
        "trend": 1069.546639,
        "fair_value": 946.103445,
        "relative_strength": -0.124827,
        "stage": 2,
        "regime": "rotation_up",
        "modifier": "Value reclamation",
        "gate": "up",
        "direction": 64.530381,
        "energy": 73.444071,
        "activity_lines": [
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          1069.721731
        ]
      },
      {
        "date": "2026-07-31",
        "close": 1094.0,
        "volume": 68937,
        "typical_volume": 6645.2,
        "trend": 1069.962305,
        "fair_value": 948.099679,
        "relative_strength": 0.841395,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 64.578582,
        "energy": 56.137585,
        "activity_lines": [
          1091.752669,
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          1074.882736,
          1071.299367
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      },
      {
        "date": "2026-08-07",
        "close": 1106.939941,
        "volume": 706,
        "typical_volume": 6679.55,
        "trend": 1070.676969,
        "fair_value": 950.237814,
        "relative_strength": 2.110646,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 75.317699,
        "energy": 51.368721,
        "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."
    }
  }
}