{ "ticker": { "uuid": "5243def7-78b6-4e4d-a417-9700579d56e1", "symbol": "IHI", "name": "iShares U.S. Medical Devices ETF", "exchange": "MEX", "country": "MX", "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": "^MXX", "stage": 4, "stage_name": "Declining", "phase": "4c", "phase_label": "Stage 4C \u00b7 Repair watch", "transition": "stage_4_to_1_watch", "transition_label": "Stage 4 \u2192 1 repair watch", "confidence": 74.094, "architecture_regime": "downward_expansion", "architecture_regime_label": "Downward Expansion", "architecture_modifier": "Established contraction", "architecture_gate": "down", "architecture_direction": -18.016, "architecture_energy": 16.58, "architecture_maturity": 100.0, "architecture_confidence": 74.417, "architecture_tenure": "Extended", "architecture": { "interpretation": { "headline": "The weekly architecture is expanding downward.", "body": "Trend and Activity show sustained negative alignment with weak price acceptance. Repair requires persistent improvement across the structure, not merely one strong observation." }, "scores": { "balance": 49.36, "rotation_up": 30.28, "upward_expansion": 21.79, "deceleration": 44.16, "rotation_down": 29.66, "downward_expansion": 62.79 }, "activity_lines": [ 885.442664, 876.393957, 879.803539, 903.219091 ], "activity_state": "Compressed", "activity_direction": "Contracting", "rotation_direction": "Improving", "price_acceptance": -0.5 }, "latest_close": 935.0, "trend_reference": 942.796173, "distance_from_trend": -0.008269, "trend_direction": "Weakening", "fair_value": 1051.096894, "distance_from_fair_value": -0.110453, "fair_value_direction": "Improving", "relative_strength": -11.23292, "relative_strength_direction": "Improving", "price_momentum": -0.064281, "excess_performance": -0.009614, "evidence": [ { "label": "Price vs Trend", "positive": false, "value": -0.008269, "read": "Below" }, { "label": "Trend direction", "positive": false, "value": -0.088464, "read": "Falling" }, { "label": "Price vs current Fair Value", "positive": false, "value": -0.110453, "read": "Below anchor" }, { "label": "Fair Value direction", "positive": true, "value": 0.089573, "read": "Closing upward" }, { "label": "Relative Strength vs benchmark", "positive": false, "value": -0.112329, "read": "Lagging" }, { "label": "Relative strength direction", "positive": true, "value": 0.202025, "read": "Improving" }, { "label": "Price momentum", "positive": false, "value": -0.064281, "read": "Negative" }, { "label": "Volume balance", "positive": true, "value": 1.489971, "read": "Demand-led" } ], "volume": { "latest": 34, "relative_activity": 0.144589, "balance": 1.489971, "dry_up": 0.432703, "accumulation_observations": 2, "distribution_observations": 2 }, "risk": { "range_context": 0.035128, "annualized_volatility": 0.273555, "from_high_reference": -0.208316, "from_low_reference": 0.12817 }, "levels": { "trend_reference": 942.796173, "fair_value_reference": 1051.096894, 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865.972001, 864.767473, 881.575604, 910.869474 ] }, { "date": "2026-07-31", "close": 855.299988, "volume": 0, "typical_volume": 233.45, "trend": 949.900079, "fair_value": 1050.883182, "relative_strength": -19.41455, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -62.405734, "energy": 41.20878, "activity_lines": [ 862.26733, 863.113433, 876.56991, 904.180387 ] }, { "date": "2026-08-07", "close": 935.0, "volume": 34, "typical_volume": 235.15, "trend": 942.796173, "fair_value": 1051.096894, "relative_strength": -11.23292, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -18.015625, "energy": 16.580299, "activity_lines": [ 885.442664, 876.393957, 879.803539, 903.219091 ] } ], "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." } } }