{
  "ticker": {
    "uuid": "3613460e-c4d3-47bb-b20f-1bf38c3779d1",
    "symbol": "ISRA",
    "name": "VANECK ETF TR VANECK ISRAEL ETF",
    "exchange": "NYSEARCA",
    "country": "US",
    "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": "SPY",
    "stage": 3,
    "stage_name": "Distribution",
    "phase": "3b",
    "phase_label": "Stage 3B \u00b7 Distribution",
    "transition": "stage_3_churning",
    "transition_label": "Stage 3 range intact",
    "confidence": 50.471,
    "architecture_regime": "balance",
    "architecture_regime_label": "Balance",
    "architecture_modifier": "Upper balance after advance",
    "architecture_gate": "up",
    "architecture_direction": 32.309,
    "architecture_energy": 14.395,
    "architecture_maturity": 19.496,
    "architecture_confidence": 61.285,
    "architecture_tenure": "Developing",
    "architecture": {
      "interpretation": {
        "headline": "Directional pressure has compressed into balance.",
        "body": "Trend and Activity are compressed into balance, so neither side has durable control. Prior structure and the next directional change provide context; balance alone is not assumed to be a base."
      },
      "scores": {
        "balance": 49.75,
        "rotation_up": 34.37,
        "upward_expansion": 52.59,
        "deceleration": 63.54,
        "rotation_down": 24.84,
        "downward_expansion": 23.26
      },
      "activity_lines": [
        65.129173,
        64.83014,
        65.56384,
        65.171175
      ],
      "activity_state": "Compressed",
      "activity_direction": "Contracting",
      "rotation_direction": "Stable",
      "price_acceptance": -0.333333
    },
    "latest_close": 66.85,
    "trend_reference": 64.572467,
    "distance_from_trend": 0.035271,
    "trend_direction": "Improving",
    "fair_value": 45.729783,
    "distance_from_fair_value": 0.461848,
    "fair_value_direction": "Weakening",
    "relative_strength": -1.184364,
    "relative_strength_direction": "Weakening",
    "price_momentum": 0.063276,
    "excess_performance": -0.062348,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.035271,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.037839,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.461848,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.159486,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.011844,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.121534,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.063276,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": false,
        "value": 0.756742,
        "read": "Supply-led"
      }
    ],
    "volume": {
      "latest": 8954,
      "relative_activity": 0.274513,
      "balance": 0.756742,
      "dry_up": 0.541637,
      "accumulation_observations": 2,
      "distribution_observations": 3
    },
    "risk": {
      "range_context": 0.047464,
      "annualized_volatility": 0.253983,
      "from_high_reference": -0.09111,
      "from_low_reference": 0.406312
    },
    "levels": {
      "trend_reference": 64.572467,
      "fair_value_reference": 45.729783,
      "structural_low": 57.73,
      "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": 9,
        "median_return": -0.039238,
        "positive_rate": 0.111111,
        "directional_follow_through": 0.111111,
        "median_excess_return": -0.036272,
        "regime_survival": 0.444444,
        "best_return": 0.051072,
        "worst_return": -0.115509,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 5,
        "median_return": -0.072086,
        "positive_rate": 0.2,
        "directional_follow_through": 0.2,
        "median_excess_return": -0.07442,
        "regime_survival": 0.0,
        "best_return": 0.057997,
        "worst_return": -0.181264,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 4,
        "median_return": -0.088385,
        "positive_rate": 0.25,
        "directional_follow_through": 0.25,
        "median_excess_return": -0.078764,
        "regime_survival": 0.0,
        "best_return": 0.214557,
        "worst_return": -0.23107,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
        "sample_count": 3,
        "median_return": -0.07483,
        "positive_rate": 0.333333,
        "directional_follow_through": 0.333333,
        "median_excess_return": -0.075751,
        "regime_survival": 0.0,
        "best_return": 0.53355,
        "worst_return": -0.257468,
        "sufficient": false
      }
    ],
    "ledger": [
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2023-09-15",
        "end": "2023-12-15",
        "tenure": "Established",
        "return": 0.020452,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
        "start": "2023-12-22",
        "end": "2024-02-02",
        "tenure": "Developing",
        "return": 0.001265,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2024-02-09",
        "end": "2024-04-12",
        "tenure": "Developing",
        "return": -0.030634,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2024-04-19",
        "end": "2024-07-12",
        "tenure": "Established",
        "return": 0.117054,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2024-07-19",
        "end": "2025-03-07",
        "tenure": "Extended",
        "return": 0.189709,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2025-03-14",
        "end": "2025-04-04",
        "tenure": "New",
        "return": -0.092478,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2025-04-11",
        "end": "2025-05-02",
        "tenure": "New",
        "return": 0.07687,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-05-09",
        "end": "2025-05-16",
        "tenure": "New",
        "return": 0.007853,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-05-23",
        "end": "2025-08-15",
        "tenure": "Established",
        "return": 0.096878,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
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        "end": "2025-08-29",
        "tenure": "New",
        "return": 0.021623,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
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        "start": "2025-09-05",
        "end": "2026-03-13",
        "tenure": "Extended",
        "return": 0.186911,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
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        "return": 0.075809,
        "active": false
      },
      {
        "regime": "upward_expansion",
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        "return": -0.041827,
        "active": false
      },
      {
        "regime": "balance",
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        "color": "blue",
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        "return": 0.025168,
        "active": true
      }
    ],
    "chart_path": [
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      },
      {
        "date": "2026-04-24",
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        "date": "2026-05-08",
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      },
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        "date": "2026-05-15",
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      },
      {
        "date": "2026-05-22",
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      },
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        "date": "2026-05-29",
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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": "2026-06-19",
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      },
      {
        "date": "2026-06-26",
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        "relative_strength": -1.343627,
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        "modifier": "Re-accelerating",
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        "direction": 8.619962,
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      },
      {
        "date": "2026-07-03",
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        "fair_value": 44.765057,
        "relative_strength": 0.699861,
        "stage": 2,
        "regime": "balance",
        "modifier": "Upper balance after advance",
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      },
      {
        "date": "2026-07-10",
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        "fair_value": 44.950742,
        "relative_strength": -2.181756,
        "stage": 2,
        "regime": "balance",
        "modifier": "Upper balance after advance",
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        "energy": 16.491731,
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      },
      {
        "date": "2026-07-17",
        "close": 65.004,
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        "typical_volume": 38184.1,
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        "fair_value": 45.138777,
        "relative_strength": 0.418754,
        "stage": 2,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "up",
        "direction": 7.277633,
        "energy": 13.825335,
        "activity_lines": [
          64.451673,
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          65.601184,
          65.032504
        ]
      },
      {
        "date": "2026-07-24",
        "close": 64.0721,
        "volume": 19585,
        "typical_volume": 35147.0,
        "trend": 64.28272,
        "fair_value": 45.325219,
        "relative_strength": -0.544241,
        "stage": 2,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "up",
        "direction": 5.020398,
        "energy": 8.230049,
        "activity_lines": [
          64.399713,
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        ]
      },
      {
        "date": "2026-07-31",
        "close": 64.0564,
        "volume": 14818,
        "typical_volume": 34112.8,
        "trend": 64.431467,
        "fair_value": 45.517429,
        "relative_strength": -1.774245,
        "stage": 3,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "mixed",
        "direction": -13.373008,
        "energy": 11.23903,
        "activity_lines": [
          64.351107,
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          65.407645,
          65.015141
        ]
      },
      {
        "date": "2026-08-07",
        "close": 66.85,
        "volume": 8954,
        "typical_volume": 32617.8,
        "trend": 64.572467,
        "fair_value": 45.729783,
        "relative_strength": -1.184364,
        "stage": 3,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "up",
        "direction": 32.309431,
        "energy": 14.395332,
        "activity_lines": [
          65.129173,
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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."
    }
  }
}