{
  "ticker": {
    "uuid": "2c8207fe-cad0-4bd6-b70b-4423f99d3b4f",
    "symbol": "140570",
    "name": "KB RISE Exporter 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": "3a",
    "phase_label": "Stage 3A \u00b7 Churning",
    "transition": "stage_3_churning",
    "transition_label": "Stage 3 range intact",
    "confidence": 53.019,
    "architecture_regime": "rotation_down",
    "architecture_regime_label": "Rotation Down",
    "architecture_modifier": "Supply rotation",
    "architecture_gate": "mixed",
    "architecture_direction": -20.578,
    "architecture_energy": 33.533,
    "architecture_maturity": 3.239,
    "architecture_confidence": 58.02,
    "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": 44.48,
        "rotation_up": 14.95,
        "upward_expansion": 18.93,
        "deceleration": 56.97,
        "rotation_down": 61.78,
        "downward_expansion": 46.26
      },
      "activity_lines": [
        24495.0,
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        26911.8601,
        26378.443313
      ],
      "activity_state": "Moderate",
      "activity_direction": "Expanding",
      "rotation_direction": "Weakening",
      "price_acceptance": -0.666667
    },
    "latest_close": 24875.0,
    "trend_reference": 25266.409635,
    "distance_from_trend": -0.015491,
    "trend_direction": "Improving",
    "fair_value": 14894.387295,
    "distance_from_fair_value": 0.670092,
    "fair_value_direction": "Weakening",
    "relative_strength": -4.089761,
    "relative_strength_direction": "Improving",
    "price_momentum": 0.210786,
    "excess_performance": -0.019042,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": false,
        "value": -0.015491,
        "read": "Below"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.124766,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.670092,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.581249,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.040898,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.033648,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.210786,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 1.459446,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 2380,
      "relative_activity": 0.245287,
      "balance": 1.459446,
      "dry_up": 0.877856,
      "accumulation_observations": 4,
      "distribution_observations": 4
    },
    "risk": {
      "range_context": 0.12385,
      "annualized_volatility": 0.449835,
      "from_high_reference": -0.238598,
      "from_low_reference": 0.738953
    },
    "levels": {
      "trend_reference": 25266.409635,
      "fair_value_reference": 14894.387295,
      "structural_low": 20300.87043,
      "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": 5,
        "median_return": 0.02936,
        "positive_rate": 0.6,
        "directional_follow_through": 0.4,
        "median_excess_return": 0.021012,
        "regime_survival": 0.2,
        "best_return": 0.092367,
        "worst_return": -0.036737,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 4,
        "median_return": -0.00055,
        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
        "median_excess_return": 0.019036,
        "regime_survival": 0.0,
        "best_return": 0.309951,
        "worst_return": -0.015776,
        "sufficient": false
      },
      {
        "horizon": "Extended",
        "sample_count": 4,
        "median_return": 0.060298,
        "positive_rate": 0.75,
        "directional_follow_through": 0.25,
        "median_excess_return": 0.012403,
        "regime_survival": 0.0,
        "best_return": 0.519444,
        "worst_return": -0.088318,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
        "sample_count": 3,
        "median_return": 0.128679,
        "positive_rate": 0.666667,
        "directional_follow_through": 0.333333,
        "median_excess_return": 0.07137,
        "regime_survival": 0.0,
        "best_return": 1.248848,
        "worst_return": -0.104468,
        "sufficient": false
      }
    ],
    "ledger": [
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2024-11-22",
        "end": "2025-01-10",
        "tenure": "Developing",
        "return": 0.042781,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-01-17",
        "end": "2025-01-24",
        "tenure": "New",
        "return": 0.015145,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
        "start": "2025-01-31",
        "end": "2025-02-21",
        "tenure": "New",
        "return": 0.031027,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-02-28",
        "end": "2025-03-28",
        "tenure": "Developing",
        "return": -0.017065,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-04-04",
        "end": "2025-04-11",
        "tenure": "New",
        "return": -0.000907,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2025-04-18",
        "end": "2025-04-25",
        "tenure": "New",
        "return": 0.042091,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-05-02",
        "end": "2025-05-16",
        "tenure": "New",
        "return": 0.050043,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-05-23",
        "end": "2026-01-02",
        "tenure": "Extended",
        "return": 0.526435,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2026-01-09",
        "end": "2026-01-16",
        "tenure": "New",
        "return": 0.076882,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2026-01-23",
        "end": "2026-04-03",
        "tenure": "Developing",
        "return": 0.050843,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2026-04-10",
        "end": "2026-04-17",
        "tenure": "New",
        "return": 0.053027,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2026-04-24",
        "end": "2026-06-26",
        "tenure": "Developing",
        "return": -0.045648,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2026-07-03",
        "end": "2026-07-31",
        "tenure": "Developing",
        "return": -0.133395,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2026-08-07",
        "end": "2026-08-07",
        "tenure": "New",
        "return": 0.0,
        "active": true
      }
    ],
    "chart_path": [
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      },
      {
        "date": "2026-07-17",
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      },
      {
        "date": "2026-07-24",
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        "typical_volume": 10093.8,
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        "relative_strength": -11.350043,
        "stage": 3,
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      },
      {
        "date": "2026-07-31",
        "close": 23420.0,
        "volume": 9907,
        "typical_volume": 9782.5,
        "trend": 25060.240495,
        "fair_value": 14809.813708,
        "relative_strength": -14.570398,
        "stage": 3,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "mixed",
        "direction": -30.885179,
        "energy": 33.332062,
        "activity_lines": [
          24579.333333,
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      },
      {
        "date": "2026-08-07",
        "close": 24875.0,
        "volume": 2380,
        "typical_volume": 9702.9,
        "trend": 25266.409635,
        "fair_value": 14894.387295,
        "relative_strength": -4.089761,
        "stage": 3,
        "regime": "rotation_down",
        "modifier": "Supply rotation",
        "gate": "mixed",
        "direction": -20.577655,
        "energy": 33.53273,
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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."
    }
  }
}