{ "ticker": { "uuid": "40e63f2c-0cef-4ef9-bec4-f9bb2285c0a3", "symbol": "KEMX", "name": "KRANESHARES TRUST MSCI EMERGING MARKETS EX CHINA INDEX 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": 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": "deceleration", "architecture_regime_label": "Deceleration", "architecture_modifier": "Recompressing", "architecture_gate": "up", "architecture_direction": 26.477, "architecture_energy": 20.543, "architecture_maturity": 67.093, "architecture_confidence": 89.515, "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": 58.65, "rotation_up": 18.83, "upward_expansion": 51.74, "deceleration": 93.88, "rotation_down": 32.89, "downward_expansion": 17.74 }, "activity_lines": [ 48.644173, 49.48612, 49.313506, 47.881632 ], "activity_state": "Compressed", "activity_direction": "Contracting", "rotation_direction": "Weakening", "price_acceptance": 0.0 }, "latest_close": 49.4769, "trend_reference": 45.975543, "distance_from_trend": 0.076157, "trend_direction": "Improving", "fair_value": 31.98744, "distance_from_fair_value": 0.54676, "fair_value_direction": "Weakening", "relative_strength": 7.701552, "relative_strength_direction": "Weakening", "price_momentum": 0.167183, "excess_performance": 0.041558, "evidence": [ { "label": "Price vs Trend", "positive": true, "value": 0.076157, "read": "Above" }, { "label": "Trend direction", "positive": true, "value": 0.110827, "read": "Rising" }, { "label": "Price vs current Fair Value", "positive": true, "value": 0.54676, "read": "Premium" }, { "label": "Fair Value direction", "positive": false, "value": -0.130786, "read": "Moving away" }, { "label": "Relative Strength vs benchmark", "positive": true, "value": 0.077016, "read": "Leading" }, { "label": "Relative strength direction", "positive": false, "value": -0.153419, "read": "Weakening" }, { "label": "Price momentum", "positive": true, "value": 0.167183, "read": "Positive" }, { "label": "Volume balance", "positive": false, "value": 0.857043, "read": "Supply-led" } ], "volume": { "latest": 48423, "relative_activity": 0.687022, "balance": 0.857043, "dry_up": 0.718065, "accumulation_observations": 0, "distribution_observations": 1 }, "risk": { "range_context": 0.064566, "annualized_volatility": 0.327845, "from_high_reference": -0.098863, "from_low_reference": 0.591877 }, "levels": { "trend_reference": 45.975543, "fair_value_reference": 31.98744, "structural_low": 38.6906, "invalidation": "A 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"date": "2026-07-24", "close": 47.8464, "volume": 40077, "typical_volume": 91766.25, "trend": 45.28628, "fair_value": 31.676708, "relative_strength": 9.968315, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 34.498356, "energy": 21.638988, "activity_lines": [ 49.105933, 50.053327, 49.056338, 47.463943 ] }, { "date": "2026-07-31", "close": 47.903, "volume": 60052, "typical_volume": 87641.4, "trend": 45.619447, "fair_value": 31.825823, "relative_strength": 8.416409, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 28.217547, "energy": 20.576265, "activity_lines": [ 48.494587, 49.619578, 49.129148, 47.632764 ] }, { "date": "2026-08-07", "close": 49.4769, "volume": 48423, "typical_volume": 70482.45, "trend": 45.975543, "fair_value": 31.98744, "relative_strength": 7.701552, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 26.477408, "energy": 20.542805, "activity_lines": [ 48.644173, 49.48612, 49.313506, 47.881632 ] } ], "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." } } }