{
  "ticker": {
    "uuid": "4d4563ae-c2c1-4ba0-be3d-b8716a8e94c5",
    "symbol": "TDGB",
    "name": "VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF",
    "exchange": "LSE",
    "country": "GB",
    "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": "^FTSE",
    "stage": 2,
    "stage_name": "Advancing",
    "phase": "2b",
    "phase_label": "Stage 2B \u00b7 Advancing",
    "transition": "stage_2_healthy",
    "transition_label": "Stage 2 trend intact",
    "confidence": 95.64,
    "architecture_regime": "upward_expansion",
    "architecture_regime_label": "Upward Expansion",
    "architecture_modifier": "Re-accelerating",
    "architecture_gate": "up",
    "architecture_direction": 82.904,
    "architecture_energy": 85.985,
    "architecture_maturity": 10.337,
    "architecture_confidence": 71.786,
    "architecture_tenure": "New",
    "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": 5.37,
        "rotation_up": 85.38,
        "upward_expansion": 96.78,
        "deceleration": 39.02,
        "rotation_down": 8.39,
        "downward_expansion": 18.78
      },
      "activity_lines": [
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        45.330727
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      "activity_state": "Wide",
      "activity_direction": "Expanding",
      "rotation_direction": "Improving",
      "price_acceptance": 1.0
    },
    "latest_close": 47.345001,
    "trend_reference": 44.910075,
    "distance_from_trend": 0.054218,
    "trend_direction": "Improving",
    "fair_value": 34.982712,
    "distance_from_fair_value": 0.353383,
    "fair_value_direction": "Improving",
    "relative_strength": 2.694771,
    "relative_strength_direction": "Weakening",
    "price_momentum": 0.067809,
    "excess_performance": 0.016573,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.054218,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.036629,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.353383,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.035486,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.026948,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.007422,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.067809,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 2.496076,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 194021,
      "relative_activity": 1.092126,
      "balance": 2.496076,
      "dry_up": 1.044152,
      "accumulation_observations": 4,
      "distribution_observations": 1
    },
    "risk": {
      "range_context": 0.018416,
      "annualized_volatility": 0.088509,
      "from_high_reference": -0.007338,
      "from_low_reference": 0.284651
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    "levels": {
      "trend_reference": 44.910075,
      "fair_value_reference": 34.982712,
      "structural_low": 42.377499,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
    },
    "outcomes": [
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        "horizon": "Near term",
        "sample_count": 46,
        "median_return": 0.013042,
        "positive_rate": 0.673913,
        "directional_follow_through": 0.673913,
        "median_excess_return": 0.00498,
        "regime_survival": 0.826087,
        "best_return": 0.081652,
        "worst_return": -0.086287,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
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        "worst_return": -0.028298,
        "sufficient": true
      },
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        "horizon": "Extended",
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        "sufficient": true
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      {
        "horizon": "Full cycle",
        "sample_count": 4,
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        "worst_return": 0.070574,
        "sufficient": false
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        "date": "2026-06-05",
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      },
      {
        "date": "2026-07-03",
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        "fair_value": 34.350727,
        "relative_strength": 0.638412,
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        "modifier": "Recompressing",
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      },
      {
        "date": "2026-07-10",
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        "typical_volume": 197800.45,
        "trend": 44.247794,
        "fair_value": 34.472621,
        "relative_strength": 2.0404,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
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        "energy": 23.018252,
        "activity_lines": [
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      },
      {
        "date": "2026-07-17",
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        "typical_volume": 197657.2,
        "trend": 44.392558,
        "fair_value": 34.595198,
        "relative_strength": 2.923765,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Re-acceleration watch",
        "gate": "up",
        "direction": 69.368271,
        "energy": 45.570606,
        "activity_lines": [
          45.343834,
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        ]
      },
      {
        "date": "2026-07-24",
        "close": 46.4575,
        "volume": 148053,
        "typical_volume": 187556.05,
        "trend": 44.558635,
        "fair_value": 34.719219,
        "relative_strength": 2.593109,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 75.38238,
        "energy": 66.00634,
        "activity_lines": [
          45.765834,
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        ]
      },
      {
        "date": "2026-07-31",
        "close": 47.025002,
        "volume": 185467,
        "typical_volume": 183028.05,
        "trend": 44.731677,
        "fair_value": 34.849327,
        "relative_strength": 2.430346,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 81.101004,
        "energy": 77.808432,
        "activity_lines": [
          46.274835,
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          45.162126
        ]
      },
      {
        "date": "2026-08-07",
        "close": 47.345001,
        "volume": 194021,
        "typical_volume": 177654.45,
        "trend": 44.910075,
        "fair_value": 34.982712,
        "relative_strength": 2.694771,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 82.904275,
        "energy": 85.984556,
        "activity_lines": [
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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."
    }
  }
}