{
  "ticker": {
    "uuid": "1cdd8153-d678-4a35-b467-5338e241e4ea",
    "symbol": "AUSAUW",
    "name": "UBS MSCI Australia UCITS ETF AUD acc",
    "exchange": "MIL",
    "country": "IT",
    "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": "FTSEMIB.MI",
    "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": 96.0,
    "architecture_regime": "upward_expansion",
    "architecture_regime_label": "Upward Expansion",
    "architecture_modifier": "Re-accelerating",
    "architecture_gate": "up",
    "architecture_direction": 91.594,
    "architecture_energy": 88.315,
    "architecture_maturity": 19.775,
    "architecture_confidence": 61.295,
    "architecture_tenure": "Developing",
    "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": 2.08,
        "rotation_up": 86.27,
        "upward_expansion": 96.78,
        "deceleration": 39.08,
        "rotation_down": 9.08,
        "downward_expansion": 18.78
      },
      "activity_lines": [
        33.609999,
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        32.825738,
        32.575387
      ],
      "activity_state": "Wide",
      "activity_direction": "Expanding",
      "rotation_direction": "Improving",
      "price_acceptance": 1.0
    },
    "latest_close": 34.474998,
    "trend_reference": 32.153833,
    "distance_from_trend": 0.072189,
    "trend_direction": "Improving",
    "fair_value": 28.702888,
    "distance_from_fair_value": 0.201099,
    "fair_value_direction": "Improving",
    "relative_strength": -5.578974,
    "relative_strength_direction": "Improving",
    "price_momentum": 0.117323,
    "excess_performance": -0.053569,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.072189,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.044832,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.201099,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.040568,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.05579,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.000441,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.117323,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 2.323745,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 17680,
      "relative_activity": 0.988864,
      "balance": 2.323745,
      "dry_up": 0.791469,
      "accumulation_observations": 1,
      "distribution_observations": 1
    },
    "risk": {
      "range_context": 0.018151,
      "annualized_volatility": 0.14563,
      "from_high_reference": -0.349167,
      "from_low_reference": 0.249321
    },
    "levels": {
      "trend_reference": 32.153833,
      "fair_value_reference": 28.702888,
      "structural_low": 30.469999,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 32,
        "median_return": -0.000947,
        "positive_rate": 0.46875,
        "directional_follow_through": 0.46875,
        "median_excess_return": -0.015993,
        "regime_survival": 0.5625,
        "best_return": 0.07893,
        "worst_return": -0.088478,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 12,
        "median_return": -0.003003,
        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
        "median_excess_return": -0.036321,
        "regime_survival": 0.333333,
        "best_return": 0.851148,
        "worst_return": -0.137474,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 7,
        "median_return": 0.01907,
        "positive_rate": 0.571429,
        "directional_follow_through": 0.571429,
        "median_excess_return": -0.049274,
        "regime_survival": 0.285714,
        "best_return": 0.054303,
        "worst_return": -0.081992,
        "sufficient": true
      },
      {
        "horizon": "Full cycle",
        "sample_count": 4,
        "median_return": 0.013212,
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        "regime_survival": 0.25,
        "best_return": 0.080045,
        "worst_return": -0.007335,
        "sufficient": false
      }
    ],
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        "regime": "rotation_down",
        "label": "Rotation Down",
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      },
      {
        "regime": "downward_expansion",
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        "regime": "deceleration",
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        "regime": "balance",
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        "relative_strength": -3.852905,
        "stage": 1,
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        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 58.541096,
        "energy": 65.030739,
        "activity_lines": [
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      },
      {
        "date": "2026-05-08",
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        "typical_volume": 39262.2,
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        "fair_value": 28.008754,
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        "activity_lines": [
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      },
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        "date": "2026-05-15",
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        "activity_lines": [
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      },
      {
        "date": "2026-05-22",
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        "typical_volume": 39055.2,
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        "modifier": "Recompressing",
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        "energy": 25.73005,
        "activity_lines": [
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      },
      {
        "date": "2026-05-29",
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        "typical_volume": 34118.45,
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        "fair_value": 28.163818,
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      },
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        "date": "2026-06-05",
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        "fair_value": 28.209459,
        "relative_strength": -8.356137,
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      },
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        "trend": 31.012333,
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      },
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      },
      {
        "date": "2026-06-26",
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        "relative_strength": -8.275315,
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        "gate": "up",
        "direction": 48.823533,
        "energy": 28.260396,
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      },
      {
        "date": "2026-07-03",
        "close": 32.48,
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        "typical_volume": 24818.85,
        "trend": 31.4245,
        "fair_value": 28.41917,
        "relative_strength": -10.455959,
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        "activity_lines": [
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      },
      {
        "date": "2026-07-10",
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        "typical_volume": 24171.55,
        "trend": 31.559333,
        "fair_value": 28.471061,
        "relative_strength": -9.179834,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 58.043696,
        "energy": 37.703193,
        "activity_lines": [
          32.581,
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      },
      {
        "date": "2026-07-17",
        "close": 32.959999,
        "volume": 14225,
        "typical_volume": 23711.6,
        "trend": 31.701166,
        "fair_value": 28.524683,
        "relative_strength": -7.038866,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 64.022997,
        "energy": 41.085752,
        "activity_lines": [
          32.703,
          32.567272,
          32.431976,
          32.21714
        ]
      },
      {
        "date": "2026-07-24",
        "close": 33.235001,
        "volume": 6651,
        "typical_volume": 22724.35,
        "trend": 31.833667,
        "fair_value": 28.578017,
        "relative_strength": -5.956934,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 71.120878,
        "energy": 60.193456,
        "activity_lines": [
          32.903333,
          32.711091,
          32.526476,
          32.316097
        ]
      },
      {
        "date": "2026-07-31",
        "close": 33.355,
        "volume": 18047,
        "typical_volume": 22208.6,
        "trend": 31.977333,
        "fair_value": 28.635933,
        "relative_strength": -6.091114,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 70.922522,
        "energy": 68.130532,
        "activity_lines": [
          33.102333,
          32.854909,
          32.626595,
          32.414247
        ]
      },
      {
        "date": "2026-08-07",
        "close": 34.474998,
        "volume": 17680,
        "typical_volume": 17879.1,
        "trend": 32.153833,
        "fair_value": 28.702888,
        "relative_strength": -5.578974,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 91.593613,
        "energy": 88.315477,
        "activity_lines": [
          33.609999,
          33.181181,
          32.825738,
          32.575387
        ]
      }
    ],
    "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."
    }
  }
}