{
  "ticker": {
    "uuid": "22c30699-9282-48d6-848e-cffb6189abe9",
    "symbol": "VUKE",
    "name": "Vanguard FTSE 100 UCITS ETF",
    "exchange": "EBS",
    "country": "CH",
    "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": "^SSMI",
    "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": "Early expansion",
    "architecture_gate": "up",
    "architecture_direction": 89.547,
    "architecture_energy": 95.821,
    "architecture_maturity": 18.168,
    "architecture_confidence": 69.659,
    "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": 0.0,
        "rotation_up": 88.98,
        "upward_expansion": 99.99,
        "deceleration": 39.0,
        "rotation_down": 8.11,
        "downward_expansion": 21.99
      },
      "activity_lines": [
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        48.575289
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      "activity_state": "Wide",
      "activity_direction": "Expanding",
      "rotation_direction": "Improving",
      "price_acceptance": 1.0
    },
    "latest_close": 51.740002,
    "trend_reference": 48.036163,
    "distance_from_trend": 0.077105,
    "trend_direction": "Improving",
    "fair_value": 40.401003,
    "distance_from_fair_value": 0.280661,
    "fair_value_direction": "Improving",
    "relative_strength": 0.953746,
    "relative_strength_direction": "Weakening",
    "price_momentum": 0.099898,
    "excess_performance": 0.017014,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.077105,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.033396,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.280661,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.092706,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.009537,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.003007,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.099898,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 4.472784,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 85109,
      "relative_activity": 2.393119,
      "balance": 4.472784,
      "dry_up": 1.140246,
      "accumulation_observations": 2,
      "distribution_observations": 1
    },
    "risk": {
      "range_context": 0.015249,
      "annualized_volatility": 0.133443,
      "from_high_reference": 0.0,
      "from_low_reference": 0.230249
    },
    "levels": {
      "trend_reference": 48.036163,
      "fair_value_reference": 40.401003,
      "structural_low": 44.605,
      "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": 35,
        "median_return": 0.008391,
        "positive_rate": 0.657143,
        "directional_follow_through": 0.657143,
        "median_excess_return": 0.015426,
        "regime_survival": 0.657143,
        "best_return": 0.095739,
        "worst_return": -0.085932,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
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        "regime_survival": 0.461538,
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        "worst_return": -0.087799,
        "sufficient": true
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      {
        "horizon": "Extended",
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        "worst_return": -0.105866,
        "sufficient": true
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      {
        "horizon": "Full cycle",
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        "regime": "deceleration",
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        ]
      },
      {
        "date": "2026-05-01",
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        "typical_volume": 32929.95,
        "trend": 46.021737,
        "fair_value": 39.051248,
        "relative_strength": 2.623963,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 53.023382,
        "energy": 45.444273,
        "activity_lines": [
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      },
      {
        "date": "2026-05-08",
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        "typical_volume": 33712.7,
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        "relative_strength": 1.254427,
        "stage": 2,
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        ]
      },
      {
        "date": "2026-05-15",
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        "typical_volume": 33720.8,
        "trend": 46.225401,
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        "relative_strength": -0.241259,
        "stage": 3,
        "regime": "balance",
        "modifier": "Upper balance after advance",
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        "activity_lines": [
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      },
      {
        "date": "2026-05-22",
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        "typical_volume": 34331.8,
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        "relative_strength": 0.704761,
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        "activity_lines": [
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        ]
      },
      {
        "date": "2026-05-29",
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        "typical_volume": 34403.3,
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        "activity_lines": [
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      },
      {
        "date": "2026-06-05",
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        "volume": 35,
        "typical_volume": 34210.2,
        "trend": 46.609801,
        "fair_value": 39.476286,
        "relative_strength": 1.495063,
        "stage": 3,
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        "modifier": "Upper balance after advance",
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        "energy": 17.635213,
        "activity_lines": [
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      },
      {
        "date": "2026-06-12",
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        "volume": 4776,
        "typical_volume": 34087.6,
        "trend": 46.775465,
        "fair_value": 39.563127,
        "relative_strength": -0.439046,
        "stage": 3,
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        "gate": "up",
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      },
      {
        "date": "2026-06-19",
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        "typical_volume": 29026.35,
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        "fair_value": 39.65428,
        "relative_strength": -1.276993,
        "stage": 3,
        "regime": "balance",
        "modifier": "Upper balance after advance",
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        "energy": 43.954657,
        "activity_lines": [
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      },
      {
        "date": "2026-06-26",
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        "volume": 6290,
        "typical_volume": 29067.7,
        "trend": 47.050442,
        "fair_value": 39.747062,
        "relative_strength": -3.068493,
        "stage": 3,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "up",
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        "energy": 56.344647,
        "activity_lines": [
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        ]
      },
      {
        "date": "2026-07-03",
        "close": 49.595001,
        "volume": 18998,
        "typical_volume": 28955.75,
        "trend": 47.206437,
        "fair_value": 39.855149,
        "relative_strength": -2.33698,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
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        "direction": 85.661081,
        "energy": 77.88879,
        "activity_lines": [
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        ]
      },
      {
        "date": "2026-07-10",
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        "volume": 37105,
        "typical_volume": 30764.6,
        "trend": 47.359649,
        "fair_value": 39.958615,
        "relative_strength": -1.731159,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 75.653223,
        "energy": 78.460573,
        "activity_lines": [
          48.897347,
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          47.94205,
          47.740007
        ]
      },
      {
        "date": "2026-07-17",
        "close": 49.544998,
        "volume": 4018,
        "typical_volume": 30750.0,
        "trend": 47.50644,
        "fair_value": 40.060685,
        "relative_strength": -1.909091,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 76.655263,
        "energy": 82.386816,
        "activity_lines": [
          49.206,
          48.670465,
          48.116784,
          47.880998
        ]
      },
      {
        "date": "2026-07-24",
        "close": 50.580002,
        "volume": 45380,
        "typical_volume": 31715.0,
        "trend": 47.679631,
        "fair_value": 40.167413,
        "relative_strength": 0.224497,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 89.385569,
        "energy": 93.580119,
        "activity_lines": [
          49.759,
          49.103305,
          48.38721,
          48.079292
        ]
      },
      {
        "date": "2026-07-31",
        "close": 51.5,
        "volume": 27700,
        "typical_volume": 31736.55,
        "trend": 47.872412,
        "fair_value": 40.28434,
        "relative_strength": 1.88301,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 92.453388,
        "energy": 96.040832,
        "activity_lines": [
          50.437334,
          49.624924,
          48.730598,
          48.325767
        ]
      },
      {
        "date": "2026-08-07",
        "close": 51.740002,
        "volume": 85109,
        "typical_volume": 35564.05,
        "trend": 48.036163,
        "fair_value": 40.401003,
        "relative_strength": 0.953746,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 89.546722,
        "energy": 95.821428,
        "activity_lines": [
          50.985668,
          50.122054,
          49.073648,
          48.575289
        ]
      }
    ],
    "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."
    }
  }
}