{
  "ticker": {
    "uuid": "253810a5-48d6-4a3d-aae2-2129c6b6007a",
    "symbol": "ECH",
    "name": "iShares MSCI Chile 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": 3,
    "stage_name": "Distribution",
    "phase": "3a",
    "phase_label": "Stage 3A \u00b7 Churning",
    "transition": "stage_3_churning",
    "transition_label": "Stage 3 range intact",
    "confidence": 68.478,
    "architecture_regime": "downward_expansion",
    "architecture_regime_label": "Downward Expansion",
    "architecture_modifier": "Established contraction",
    "architecture_gate": "down",
    "architecture_direction": -50.019,
    "architecture_energy": 30.092,
    "architecture_maturity": 33.687,
    "architecture_confidence": 79.096,
    "architecture_tenure": "Developing",
    "architecture": {
      "interpretation": {
        "headline": "The weekly architecture is expanding downward.",
        "body": "Trend and Activity show sustained negative alignment with weak price acceptance. Repair requires persistent improvement across the structure, not merely one strong observation."
      },
      "scores": {
        "balance": 35.02,
        "rotation_up": 27.02,
        "upward_expansion": 5.63,
        "deceleration": 52.18,
        "rotation_down": 43.99,
        "downward_expansion": 76.63
      },
      "activity_lines": [
        691.934668,
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        696.975345,
        704.581262
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      "activity_state": "Compressed",
      "activity_direction": "Contracting",
      "rotation_direction": "Improving",
      "price_acceptance": -0.5
    },
    "latest_close": 705.0,
    "trend_reference": 720.94528,
    "distance_from_trend": -0.022117,
    "trend_direction": "Weakening",
    "fair_value": 567.664191,
    "distance_from_fair_value": 0.241931,
    "fair_value_direction": "Weakening",
    "relative_strength": -0.143763,
    "relative_strength_direction": "Improving",
    "price_momentum": -0.125896,
    "excess_performance": -0.071229,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": false,
        "value": -0.022117,
        "read": "Below"
      },
      {
        "label": "Trend direction",
        "positive": false,
        "value": -0.004312,
        "read": "Falling"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.241931,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.0467,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.001438,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.031593,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": false,
        "value": -0.125896,
        "read": "Negative"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 60.231638,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 75,
      "relative_activity": 0.031095,
      "balance": 60.231638,
      "dry_up": 0.032027,
      "accumulation_observations": 1,
      "distribution_observations": 0
    },
    "risk": {
      "range_context": 0.029673,
      "annualized_volatility": 0.278383,
      "from_high_reference": -0.134969,
      "from_low_reference": 0.261497
    },
    "levels": {
      "trend_reference": 720.94528,
      "fair_value_reference": 567.664191,
      "structural_low": 669.432495,
      "invalidation": "A decisive breakout above range resistance with renewed RS leadership invalidates the distribution reading; a range-low break confirms deterioration."
    },
    "outcomes": [
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        "horizon": "Near term",
        "sample_count": 23,
        "median_return": -0.003968,
        "positive_rate": 0.478261,
        "directional_follow_through": 0.521739,
        "median_excess_return": 0.000973,
        "regime_survival": 0.695652,
        "best_return": 0.167544,
        "worst_return": -0.203259,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 8,
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        "worst_return": -0.089602,
        "sufficient": true
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        "horizon": "Extended",
        "sample_count": 5,
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      {
        "horizon": "Full cycle",
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      },
      {
        "date": "2026-07-17",
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        "typical_volume": 31723.6,
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      },
      {
        "date": "2026-07-24",
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        "typical_volume": 31559.0,
        "trend": 724.106281,
        "fair_value": 565.218383,
        "relative_strength": -3.079656,
        "stage": 3,
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        "modifier": "Early contraction",
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        "direction": -69.70612,
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      },
      {
        "date": "2026-07-31",
        "close": 689.0,
        "volume": 109,
        "typical_volume": 2900.15,
        "trend": 723.072947,
        "fair_value": 566.355564,
        "relative_strength": -2.245734,
        "stage": 3,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -58.794172,
        "energy": 52.541412,
        "activity_lines": [
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      },
      {
        "date": "2026-08-07",
        "close": 705.0,
        "volume": 75,
        "typical_volume": 2412.0,
        "trend": 720.94528,
        "fair_value": 567.664191,
        "relative_strength": -0.143763,
        "stage": 3,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -50.019496,
        "energy": 30.092388,
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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."
    }
  }
}