{ "ticker": { "uuid": "52a509f0-8ddc-4ee8-9945-6df8d6a32f17", "symbol": "00944", "name": "NEXT FUNDS - Nomura Taiwan Momentum High Dividend ETF", "exchange": "TAI", "country": "TW", "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": "^TWII", "stage": 2, "stage_name": "Advancing", "phase": "2a", "phase_label": "Stage 2A \u00b7 Early advance", "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": 39.297, "architecture_energy": 30.414, "architecture_maturity": 68.112, "architecture_confidence": 77.245, "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": 30.94, "rotation_up": 24.12, "upward_expansion": 60.4, "deceleration": 91.17, "rotation_down": 29.22, "downward_expansion": 24.06 }, "activity_lines": [ 20.40137, 20.854862, 20.248479, 19.183849 ], "activity_state": "Wide", "activity_direction": "Contracting", "rotation_direction": "Weakening", "price_acceptance": 0.166667 }, "latest_close": 20.26, "trend_reference": 17.789075, "distance_from_trend": 0.138901, "trend_direction": "Improving", "fair_value": 14.817022, "distance_from_fair_value": 0.367346, "fair_value_direction": "Improving", "relative_strength": -6.028513, "relative_strength_direction": "Improving", "price_momentum": 0.366712, "excess_performance": -0.0126, "evidence": [ { "label": "Price vs Trend", "positive": true, "value": 0.138901, "read": "Above" }, { "label": "Trend direction", "positive": true, "value": 0.152821, "read": "Rising" }, { "label": "Price vs current Fair Value", "positive": true, "value": 0.367346, "read": "Premium" }, { "label": "Fair Value direction", "positive": true, "value": 0.053764, "read": "Closing upward" }, { "label": "Relative Strength vs benchmark", "positive": false, "value": -0.060285, "read": "Lagging" }, { "label": "Relative strength direction", "positive": true, "value": 0.089214, "read": "Improving" }, { "label": "Price momentum", "positive": true, "value": 0.366712, "read": "Positive" }, { "label": "Volume balance", "positive": true, "value": 1.063757, "read": "Demand-led" } ], "volume": { "latest": 1724694, "relative_activity": 0.467407, "balance": 1.063757, "dry_up": 0.614653, "accumulation_observations": 3, "distribution_observations": 1 }, "risk": { "range_context": 0.049637, "annualized_volatility": 0.247277, "from_high_reference": -0.096616, "from_low_reference": 0.507163 }, "levels": { "trend_reference": 17.789075, "fair_value_reference": 14.817022, "structural_low": 14.261709, "invalidation": "A 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"regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 53.633897, "energy": 57.243545, "activity_lines": [ 21.083328, 21.17549, 20.002964, 18.844691 ] }, { "date": "2026-07-31", "close": 19.99, "volume": 2873224, "typical_volume": 3805711.3, "trend": 17.592023, "fair_value": 14.769692, "relative_strength": -5.376558, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 45.78539, "energy": 39.88658, "activity_lines": [ 20.649289, 20.999704, 20.124593, 19.011722 ] }, { "date": "2026-08-07", "close": 20.26, "volume": 1724694, "typical_volume": 3689915.7, "trend": 17.789075, "fair_value": 14.817022, "relative_strength": -6.028513, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 39.297162, "energy": 30.413676, "activity_lines": [ 20.40137, 20.854862, 20.248479, 19.183849 ] } ], "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." } } }