{
  "ticker": {
    "uuid": "27b32223-35d4-4bee-bc0e-39a3ded7ca76",
    "symbol": "VNRT",
    "name": "Vanguard FTSE North America UCITS ETF",
    "exchange": "LSE",
    "country": "GB",
    "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": "^FTSE",
    "stage": 2,
    "stage_name": "Advancing",
    "phase": "2b",
    "phase_label": "Stage 2B \u00b7 Advancing",
    "transition": "stage_2_healthy",
    "transition_label": "Stage 2 trend intact",
    "confidence": 96.0,
    "architecture_regime": "upward_expansion",
    "architecture_regime_label": "Upward Expansion",
    "architecture_modifier": "Established expansion",
    "architecture_gate": "up",
    "architecture_direction": 80.957,
    "architecture_energy": 55.472,
    "architecture_maturity": 87.324,
    "architecture_confidence": 67.148,
    "architecture_tenure": "Established",
    "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": 26.47,
        "rotation_up": 48.52,
        "upward_expansion": 79.69,
        "deceleration": 71.38,
        "rotation_down": 29.03,
        "downward_expansion": 8.69
      },
      "activity_lines": [
        137.105835,
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        135.448983,
        132.806655
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      "activity_state": "Moderate",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": 0.5
    },
    "latest_close": 140.255005,
    "trend_reference": 129.652612,
    "distance_from_trend": 0.081775,
    "trend_direction": "Improving",
    "fair_value": 109.055555,
    "distance_from_fair_value": 0.286088,
    "fair_value_direction": "Improving",
    "relative_strength": 2.467485,
    "relative_strength_direction": "Weakening",
    "price_momentum": 0.139821,
    "excess_performance": 0.088586,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.081775,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.032574,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.286088,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.026544,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.024675,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.011069,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.139821,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 2.610099,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 20061,
      "relative_activity": 0.915096,
      "balance": 2.610099,
      "dry_up": 1.275197,
      "accumulation_observations": 2,
      "distribution_observations": 2
    },
    "risk": {
      "range_context": 0.019246,
      "annualized_volatility": 0.120867,
      "from_high_reference": -0.004687,
      "from_low_reference": 0.225711
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    "levels": {
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      "fair_value_reference": 109.055555,
      "structural_low": 117.044998,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
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    "outcomes": [
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        "horizon": "Near term",
        "sample_count": 40,
        "median_return": 0.014411,
        "positive_rate": 0.65,
        "directional_follow_through": 0.65,
        "median_excess_return": 0.001587,
        "regime_survival": 0.825,
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        "worst_return": -0.07289,
        "sufficient": true
      },
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        "horizon": "Intermediate",
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        "worst_return": -0.154079,
        "sufficient": true
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        "sufficient": true
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        "horizon": "Full cycle",
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        "sufficient": false
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      },
      {
        "date": "2026-04-24",
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      },
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        "date": "2026-05-08",
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      },
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        "date": "2026-05-15",
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      },
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      },
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      },
      {
        "date": "2026-06-05",
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      },
      {
        "date": "2026-06-12",
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      },
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      },
      {
        "date": "2026-06-26",
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        "fair_value": 106.971714,
        "relative_strength": 3.180521,
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      },
      {
        "date": "2026-07-03",
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        "stage": 2,
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      },
      {
        "date": "2026-07-10",
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        "fair_value": 107.691231,
        "relative_strength": 4.203753,
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      },
      {
        "date": "2026-07-17",
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        "typical_volume": 23959.5,
        "trend": 128.431322,
        "fair_value": 108.025086,
        "relative_strength": 1.848731,
        "stage": 2,
        "regime": "upward_expansion",
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        "gate": "up",
        "direction": 62.176824,
        "energy": 59.316925,
        "activity_lines": [
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      },
      {
        "date": "2026-07-24",
        "close": 136.080002,
        "volume": 34688,
        "typical_volume": 23859.75,
        "trend": 128.817282,
        "fair_value": 108.358594,
        "relative_strength": 0.951861,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 52.017613,
        "energy": 52.645103,
        "activity_lines": [
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      },
      {
        "date": "2026-07-31",
        "close": 134.675003,
        "volume": 32979,
        "typical_volume": 22560.55,
        "trend": 129.187493,
        "fair_value": 108.686454,
        "relative_strength": -1.276269,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 46.847013,
        "energy": 41.41448,
        "activity_lines": [
          135.721166,
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          134.63501,
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      },
      {
        "date": "2026-08-07",
        "close": 140.255005,
        "volume": 20061,
        "typical_volume": 21922.3,
        "trend": 129.652612,
        "fair_value": 109.055555,
        "relative_strength": 2.467485,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 80.957191,
        "energy": 55.472339,
        "activity_lines": [
          137.105835,
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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."
    }
  }
}