{
  "ticker": {
    "uuid": "388adf2c-c90c-47fb-8b63-415e0b90976a",
    "symbol": "122260",
    "name": "KOSEF MSB",
    "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": 95.533,
    "architecture_regime": "upward_expansion",
    "architecture_regime_label": "Upward Expansion",
    "architecture_modifier": "Established expansion",
    "architecture_gate": "up",
    "architecture_direction": 96.073,
    "architecture_energy": 93.59,
    "architecture_maturity": 100.0,
    "architecture_confidence": 52.825,
    "architecture_tenure": "Extended",
    "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": 11.08,
        "rotation_up": 89.7,
        "upward_expansion": 97.5,
        "deceleration": 40.82,
        "rotation_down": 9.33,
        "downward_expansion": 19.5
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      "activity_lines": [
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      "activity_state": "Moderate",
      "activity_direction": "Expanding",
      "rotation_direction": "Improving",
      "price_acceptance": 1.0
    },
    "latest_close": 104050.0,
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    "distance_from_trend": 0.006966,
    "trend_direction": "Improving",
    "fair_value": 99955.901443,
    "distance_from_fair_value": 0.040959,
    "fair_value_direction": "Weakening",
    "relative_strength": -20.607168,
    "relative_strength_direction": "Improving",
    "price_momentum": 0.012012,
    "excess_performance": -0.217817,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.006966,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.004046,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.040959,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.002071,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.206072,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.265391,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.012012,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 1.71465,
        "read": "Demand-led"
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    ],
    "volume": {
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      "balance": 1.71465,
      "dry_up": 0.226121,
      "accumulation_observations": 0,
      "distribution_observations": 0
    },
    "risk": {
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      "annualized_volatility": 0.003957,
      "from_high_reference": -0.000192,
      "from_low_reference": 0.02102
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    "levels": {
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      "fair_value_reference": 99955.901443,
      "structural_low": 102795.0,
      "invalidation": "A decisive breakout above range resistance with renewed RS leadership invalidates the distribution reading; a range-low break confirms deterioration."
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    "outcomes": [
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        "sample_count": 54,
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      },
      {
        "date": "2026-07-24",
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        "volume": 231,
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        "fair_value": 99835.289163,
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        "stage": 3,
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      },
      {
        "date": "2026-07-31",
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        "volume": 563,
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        "trend": 103287.166667,
        "fair_value": 99895.541016,
        "relative_strength": -25.756331,
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      },
      {
        "date": "2026-08-07",
        "close": 104050.0,
        "volume": 2398,
        "typical_volume": 3699.35,
        "trend": 103330.166667,
        "fair_value": 99955.901443,
        "relative_strength": -20.607168,
        "stage": 3,
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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."
    }
  }
}