{
  "ticker": {
    "uuid": "1c2caf22-6e37-44a0-b619-752551d81305",
    "symbol": "227570",
    "name": "Mirae Asset Tiger Quality Value ETF",
    "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": 3,
    "stage_name": "Distribution",
    "phase": "3b",
    "phase_label": "Stage 3B \u00b7 Distribution",
    "transition": "stage_3_churning",
    "transition_label": "Stage 3 range intact",
    "confidence": 49.539,
    "architecture_regime": "rotation_down",
    "architecture_regime_label": "Rotation Down",
    "architecture_modifier": "Supply rotation",
    "architecture_gate": "mixed",
    "architecture_direction": -6.118,
    "architecture_energy": 10.594,
    "architecture_maturity": 23.971,
    "architecture_confidence": 73.172,
    "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": 55.35,
        "rotation_up": 23.81,
        "upward_expansion": 29.76,
        "deceleration": 77.27,
        "rotation_down": 41.41,
        "downward_expansion": 27.09
      },
      "activity_lines": [
        20244.666667,
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        20964.42939,
        20962.001504
      ],
      "activity_state": "Compressed",
      "activity_direction": "Contracting",
      "rotation_direction": "Improving",
      "price_acceptance": -0.666667
    },
    "latest_close": 20865.0,
    "trend_reference": 20528.885091,
    "distance_from_trend": 0.016373,
    "trend_direction": "Improving",
    "fair_value": 13727.918532,
    "distance_from_fair_value": 0.519895,
    "fair_value_direction": "Weakening",
    "relative_strength": -6.682498,
    "relative_strength_direction": "Improving",
    "price_momentum": 0.17343,
    "excess_performance": -0.056398,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.016373,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.077412,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.519895,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.326748,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.066825,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.166715,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.17343,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": false,
        "value": 0.356282,
        "read": "Supply-led"
      }
    ],
    "volume": {
      "latest": 54122,
      "relative_activity": 2.455504,
      "balance": 0.356282,
      "dry_up": 2.048616,
      "accumulation_observations": 1,
      "distribution_observations": 3
    },
    "risk": {
      "range_context": 0.075013,
      "annualized_volatility": 0.351699,
      "from_high_reference": -0.152497,
      "from_low_reference": 0.521238
    },
    "levels": {
      "trend_reference": 20528.885091,
      "fair_value_reference": 13727.918532,
      "structural_low": 17356.900802,
      "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": 2,
        "median_return": 0.035819,
        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
        "median_excess_return": 0.048712,
        "regime_survival": 0.0,
        "best_return": 0.101552,
        "worst_return": -0.029915,
        "sufficient": false
      },
      {
        "horizon": "Intermediate",
        "sample_count": 2,
        "median_return": -0.014545,
        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
        "median_excess_return": 0.007733,
        "regime_survival": 0.0,
        "best_return": 0.001678,
        "worst_return": -0.030769,
        "sufficient": false
      },
      {
        "horizon": "Extended",
        "sample_count": 2,
        "median_return": 0.023044,
        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
        "median_excess_return": 0.07152,
        "regime_survival": 0.0,
        "best_return": 0.080917,
        "worst_return": -0.03483,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
        "sample_count": 2,
        "median_return": 0.136313,
        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
        "median_excess_return": -0.042793,
        "regime_survival": 0.0,
        "best_return": 0.349062,
        "worst_return": -0.076436,
        "sufficient": false
      }
    ],
    "ledger": [
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        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2024-02-09",
        "end": "2024-03-29",
        "tenure": "Developing",
        "return": -0.049858,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2024-04-05",
        "end": "2024-05-10",
        "tenure": "Developing",
        "return": 0.023144,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2024-05-17",
        "end": "2024-10-04",
        "tenure": "Established",
        "return": -0.011412,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2024-10-11",
        "end": "2024-11-01",
        "tenure": "New",
        "return": -0.005117,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2024-11-08",
        "end": "2024-11-15",
        "tenure": "New",
        "return": -0.038889,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2024-11-22",
        "end": "2025-02-21",
        "tenure": "Established",
        "return": 0.05635,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
        "start": "2025-02-28",
        "end": "2025-03-28",
        "tenure": "Developing",
        "return": 0.005439,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-04-04",
        "end": "2025-04-11",
        "tenure": "New",
        "return": -0.024319,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2025-04-18",
        "end": "2025-05-02",
        "tenure": "New",
        "return": 0.041851,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
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        "end": "2025-08-15",
        "tenure": "Established",
        "return": 0.221275,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
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        "end": "2025-11-14",
        "tenure": "Established",
        "return": 0.075236,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
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        "end": "2026-06-05",
        "tenure": "Extended",
        "return": 0.38104,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
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        "active": false
      },
      {
        "regime": "rotation_down",
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        "tenure": "New",
        "return": 0.034714,
        "active": true
      }
    ],
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      },
      {
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      },
      {
        "date": "2026-07-24",
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        "relative_strength": -17.054054,
        "stage": 3,
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      },
      {
        "date": "2026-07-31",
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        "typical_volume": 20277.15,
        "trend": 20357.348405,
        "fair_value": 13658.802547,
        "relative_strength": -16.542547,
        "stage": 3,
        "regime": "rotation_down",
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        "gate": "mixed",
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        "energy": 23.030406,
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      },
      {
        "date": "2026-08-07",
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        "volume": 54122,
        "typical_volume": 22041.1,
        "trend": 20528.885091,
        "fair_value": 13727.918532,
        "relative_strength": -6.682498,
        "stage": 3,
        "regime": "rotation_down",
        "modifier": "Supply rotation",
        "gate": "mixed",
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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."
    }
  }
}