{
  "ticker": {
    "uuid": "3baa8010-cafa-42dc-ba76-2ca2000f10f4",
    "symbol": "EMMF",
    "name": "WISDOMTREE TRUST EMERGING MARKETS MULTIFACTOR FUND",
    "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": 2,
    "stage_name": "Advancing",
    "phase": "2b",
    "phase_label": "Stage 2B \u00b7 Advancing",
    "transition": "stage_2_healthy",
    "transition_label": "Stage 2 trend intact",
    "confidence": 69.716,
    "architecture_regime": "deceleration",
    "architecture_regime_label": "Deceleration",
    "architecture_modifier": "Recompressing",
    "architecture_gate": "up",
    "architecture_direction": 11.829,
    "architecture_energy": 15.275,
    "architecture_maturity": 55.857,
    "architecture_confidence": 94.825,
    "architecture_tenure": "New",
    "architecture": {
      "interpretation": {
        "headline": "The upward structure remains, but its energy is decelerating.",
        "body": "Trend remains positive, but Activity or price acceptance is losing strength. This can become a healthy recompression, a re-acceleration, or a Rotation Down."
      },
      "scores": {
        "balance": 56.94,
        "rotation_up": 20.35,
        "upward_expansion": 47.14,
        "deceleration": 84.6,
        "rotation_down": 39.66,
        "downward_expansion": 29.8
      },
      "activity_lines": [
        36.724667,
        37.170107,
        37.292462,
        36.662108
      ],
      "activity_state": "Compressed",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": -0.333333
    },
    "latest_close": 37.3451,
    "trend_reference": 35.848594,
    "distance_from_trend": 0.041745,
    "trend_direction": "Improving",
    "fair_value": 28.202016,
    "distance_from_fair_value": 0.3242,
    "fair_value_direction": "Weakening",
    "relative_strength": -0.749671,
    "relative_strength_direction": "Weakening",
    "price_momentum": 0.087652,
    "excess_performance": -0.037973,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.041745,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.061084,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.3242,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.081901,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.007497,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.086529,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.087652,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 1.039413,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 51094,
      "relative_activity": 0.681351,
      "balance": 1.039413,
      "dry_up": 1.017985,
      "accumulation_observations": 2,
      "distribution_observations": 2
    },
    "risk": {
      "range_context": 0.051062,
      "annualized_volatility": 0.246563,
      "from_high_reference": -0.08289,
      "from_low_reference": 0.302743
    },
    "levels": {
      "trend_reference": 35.848594,
      "fair_value_reference": 28.202016,
      "structural_low": 31.935,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 8,
        "median_return": 0.011795,
        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
        "median_excess_return": -0.012183,
        "regime_survival": 0.5,
        "best_return": 0.108861,
        "worst_return": -0.029109,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 4,
        "median_return": 0.03258,
        "positive_rate": 0.75,
        "directional_follow_through": 0.75,
        "median_excess_return": -0.009402,
        "regime_survival": 0.0,
        "best_return": 0.169827,
        "worst_return": -0.038367,
        "sufficient": false
      },
      {
        "horizon": "Extended",
        "sample_count": 3,
        "median_return": 0.091594,
        "positive_rate": 0.666667,
        "directional_follow_through": 0.666667,
        "median_excess_return": -0.033177,
        "regime_survival": 0.333333,
        "best_return": 0.126787,
        "worst_return": -0.036061,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
        "sample_count": 2,
        "median_return": 0.151547,
        "positive_rate": 1.0,
        "directional_follow_through": 1.0,
        "median_excess_return": -0.080191,
        "regime_survival": 0.0,
        "best_return": 0.229994,
        "worst_return": 0.0731,
        "sufficient": false
      }
    ],
    "ledger": [
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2023-03-03",
        "end": "2023-04-14",
        "tenure": "Developing",
        "return": 0.016313,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2023-04-21",
        "end": "2023-08-25",
        "tenure": "Established",
        "return": 0.078077,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2023-09-01",
        "end": "2023-11-24",
        "tenure": "Established",
        "return": 0.014686,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2023-12-01",
        "end": "2024-08-09",
        "tenure": "Extended",
        "return": 0.156172,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2024-08-16",
        "end": "2024-08-30",
        "tenure": "New",
        "return": 0.004717,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2024-09-06",
        "end": "2024-11-22",
        "tenure": "Developing",
        "return": -0.00086,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2024-11-29",
        "end": "2024-12-27",
        "tenure": "Developing",
        "return": -0.009734,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2025-01-03",
        "end": "2025-04-25",
        "tenure": "Established",
        "return": -0.003438,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-05-02",
        "end": "2025-05-09",
        "tenure": "New",
        "return": -0.002911,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
        "start": "2025-05-16",
        "end": "2025-05-30",
        "tenure": "New",
        "return": -0.014941,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-06-06",
        "end": "2026-03-20",
        "tenure": "Extended",
        "return": 0.188619,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2026-03-27",
        "end": "2026-04-17",
        "tenure": "New",
        "return": 0.120594,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
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        "end": "2026-07-10",
        "tenure": "Developing",
        "return": 0.05898,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
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        "end": "2026-08-07",
        "tenure": "New",
        "return": 0.029102,
        "active": true
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    ],
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        "date": "2026-04-17",
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        "activity_lines": [
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      },
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        "date": "2026-04-24",
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      },
      {
        "date": "2026-05-08",
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        "date": "2026-05-15",
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      },
      {
        "date": "2026-05-22",
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        "typical_volume": 87799.6,
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      },
      {
        "date": "2026-05-29",
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        "typical_volume": 86319.7,
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      },
      {
        "date": "2026-06-05",
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        "relative_strength": 5.516692,
        "stage": 2,
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      },
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        "date": "2026-06-12",
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        "typical_volume": 89609.45,
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        "fair_value": 27.41427,
        "relative_strength": 8.783443,
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      },
      {
        "date": "2026-06-26",
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        "trend": 34.788751,
        "fair_value": 27.637783,
        "relative_strength": 7.496911,
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      },
      {
        "date": "2026-07-03",
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        "typical_volume": 92170.85,
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        "fair_value": 27.740082,
        "relative_strength": 4.155452,
        "stage": 2,
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      },
      {
        "date": "2026-07-10",
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        "typical_volume": 91499.4,
        "trend": 35.22568,
        "fair_value": 27.840806,
        "relative_strength": 3.843302,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
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        "direction": 44.935617,
        "energy": 34.390903,
        "activity_lines": [
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      },
      {
        "date": "2026-07-17",
        "close": 36.289,
        "volume": 69108,
        "typical_volume": 85206.8,
        "trend": 35.398567,
        "fair_value": 27.930249,
        "relative_strength": 0.70131,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 32.209966,
        "energy": 20.428273,
        "activity_lines": [
          37.427779,
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          37.221258,
          36.458825
        ]
      },
      {
        "date": "2026-07-24",
        "close": 36.2186,
        "volume": 74044,
        "typical_volume": 83465.15,
        "trend": 35.555886,
        "fair_value": 28.015099,
        "relative_strength": 0.950641,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 21.93697,
        "energy": 19.208958,
        "activity_lines": [
          36.863827,
          37.541125,
          37.222783,
          36.511731
        ]
      },
      {
        "date": "2026-07-31",
        "close": 36.2367,
        "volume": 111106,
        "typical_volume": 80911.05,
        "trend": 35.695072,
        "fair_value": 28.104301,
        "relative_strength": -0.210149,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 15.302286,
        "energy": 16.456815,
        "activity_lines": [
          36.55672,
          37.243659,
          37.212503,
          36.555654
        ]
      },
      {
        "date": "2026-08-07",
        "close": 37.3451,
        "volume": 51094,
        "typical_volume": 74989.3,
        "trend": 35.848594,
        "fair_value": 28.202016,
        "relative_strength": -0.749671,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 11.828504,
        "energy": 15.274626,
        "activity_lines": [
          36.724667,
          37.170107,
          37.292462,
          36.662108
        ]
      }
    ],
    "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."
    }
  }
}