{
  "ticker": {
    "uuid": "54c2b108-04fe-4b89-ac73-10cebb1dc133",
    "symbol": "KOKU",
    "name": "DBX ETF TRUST XTRACKERS MSCI KOKUSAI EQTY ETF USD",
    "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": 88.173,
    "architecture_regime": "upward_expansion",
    "architecture_regime_label": "Upward Expansion",
    "architecture_modifier": "Established expansion",
    "architecture_gate": "up",
    "architecture_direction": 87.005,
    "architecture_energy": 78.617,
    "architecture_maturity": 37.223,
    "architecture_confidence": 83.719,
    "architecture_tenure": "Established",
    "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": 18.81,
        "rotation_up": 65.96,
        "upward_expansion": 89.53,
        "deceleration": 47.88,
        "rotation_down": 20.86,
        "downward_expansion": 16.2
      },
      "activity_lines": [
        131.893353,
        130.711303,
        129.331564,
        127.040185
      ],
      "activity_state": "Wide",
      "activity_direction": "Expanding",
      "rotation_direction": "Weakening",
      "price_acceptance": 0.666667
    },
    "latest_close": 135.2885,
    "trend_reference": 124.527891,
    "distance_from_trend": 0.086411,
    "trend_direction": "Improving",
    "fair_value": 101.622546,
    "distance_from_fair_value": 0.331284,
    "fair_value_direction": "Improving",
    "relative_strength": -0.135149,
    "relative_strength_direction": "Improving",
    "price_momentum": 0.113718,
    "excess_performance": -0.011907,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.086411,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.033086,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.331284,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.011203,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.001351,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.007702,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.113718,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 1.268875,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 2556,
      "relative_activity": 1.746379,
      "balance": 1.268875,
      "dry_up": 0.661554,
      "accumulation_observations": 3,
      "distribution_observations": 2
    },
    "risk": {
      "range_context": 0.019569,
      "annualized_volatility": 0.13635,
      "from_high_reference": 0.0,
      "from_low_reference": 0.229734
    },
    "levels": {
      "trend_reference": 124.527891,
      "fair_value_reference": 101.622546,
      "structural_low": 111.606939,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 39,
        "median_return": 0.014417,
        "positive_rate": 0.717949,
        "directional_follow_through": 0.717949,
        "median_excess_return": -0.000684,
        "regime_survival": 0.769231,
        "best_return": 0.071865,
        "worst_return": -0.115557,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 14,
        "median_return": 0.046315,
        "positive_rate": 0.714286,
        "directional_follow_through": 0.714286,
        "median_excess_return": -0.004811,
        "regime_survival": 0.714286,
        "best_return": 0.107625,
        "worst_return": -0.076021,
        "sufficient": true
      },
      {
        "horizon": "Extended",
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        "median_return": 0.093086,
        "positive_rate": 0.875,
        "directional_follow_through": 0.875,
        "median_excess_return": -0.016454,
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        "worst_return": -0.133707,
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      },
      {
        "horizon": "Full cycle",
        "sample_count": 4,
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        "worst_return": -0.202585,
        "sufficient": false
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        "label": "Deceleration",
        "color": "amber",
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        "end": "2024-05-17",
        "tenure": "New",
        "return": 0.042988,
        "active": false
      },
      {
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      },
      {
        "regime": "deceleration",
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      },
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        "active": false
      },
      {
        "regime": "deceleration",
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        "active": false
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      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
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        "end": "2025-03-28",
        "tenure": "New",
        "return": -0.009942,
        "active": false
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      {
        "regime": "rotation_down",
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        "return": 0.053255,
        "active": false
      },
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        "regime": "downward_expansion",
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        "active": false
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      {
        "date": "2026-04-24",
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      },
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        "date": "2026-06-05",
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      {
        "date": "2026-06-12",
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      },
      {
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      },
      {
        "date": "2026-07-03",
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        "fair_value": 99.900736,
        "relative_strength": -1.268525,
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      },
      {
        "date": "2026-07-10",
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        "typical_volume": 1645.25,
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        "fair_value": 100.238614,
        "relative_strength": -1.641626,
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      },
      {
        "date": "2026-07-17",
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        "volume": 266,
        "typical_volume": 1619.35,
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        "fair_value": 100.569562,
        "relative_strength": -0.507012,
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        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 61.293201,
        "energy": 47.342786,
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        ]
      },
      {
        "date": "2026-07-24",
        "close": 129.2497,
        "volume": 510,
        "typical_volume": 1555.4,
        "trend": 123.661564,
        "fair_value": 100.894577,
        "relative_strength": -0.155408,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 58.341503,
        "energy": 46.031843,
        "activity_lines": [
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      },
      {
        "date": "2026-07-31",
        "close": 131.2433,
        "volume": 541,
        "typical_volume": 1388.3,
        "trend": 124.057202,
        "fair_value": 101.244892,
        "relative_strength": 0.278129,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 70.049259,
        "energy": 53.898257,
        "activity_lines": [
          130.06856,
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      },
      {
        "date": "2026-08-07",
        "close": 135.2885,
        "volume": 2556,
        "typical_volume": 1463.6,
        "trend": 124.527891,
        "fair_value": 101.622546,
        "relative_strength": -0.135149,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 87.004916,
        "energy": 78.61685,
        "activity_lines": [
          131.893353,
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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."
    }
  }
}