{
  "ticker": {
    "uuid": "569c7343-500d-4789-a969-642a192de575",
    "symbol": "226490",
    "name": "KODEX KOSPI",
    "exchange": "KSC",
    "country": "KR",
    "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": "^KS11",
    "stage": 2,
    "stage_name": "Advancing",
    "phase": "2b",
    "phase_label": "Stage 2B \u00b7 Advancing",
    "transition": "stage_2_healthy",
    "transition_label": "Stage 2 trend intact",
    "confidence": 51.206,
    "architecture_regime": "deceleration",
    "architecture_regime_label": "Deceleration",
    "architecture_modifier": "Recompressing",
    "architecture_gate": "up",
    "architecture_direction": -12.357,
    "architecture_energy": 30.829,
    "architecture_maturity": 57.728,
    "architecture_confidence": 89.883,
    "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": 46.25,
        "rotation_up": 14.05,
        "upward_expansion": 43.44,
        "deceleration": 87.43,
        "rotation_down": 54.2,
        "downward_expansion": 39.77
      },
      "activity_lines": [
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      "activity_state": "Moderate",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": -0.666667
    },
    "latest_close": 64285.0,
    "trend_reference": 67608.549349,
    "distance_from_trend": -0.049159,
    "trend_direction": "Improving",
    "fair_value": 35795.333847,
    "distance_from_fair_value": 0.795904,
    "fair_value_direction": "Weakening",
    "relative_strength": 0.446493,
    "relative_strength_direction": "Weakening",
    "price_momentum": 0.235701,
    "excess_performance": 0.005873,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": false,
        "value": -0.049159,
        "read": "Below"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.216097,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.795904,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.667424,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.004465,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.005516,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.235701,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": false,
        "value": 0.520834,
        "read": "Supply-led"
      }
    ],
    "volume": {
      "latest": 1373666,
      "relative_activity": 0.657256,
      "balance": 0.520834,
      "dry_up": 1.524736,
      "accumulation_observations": 3,
      "distribution_observations": 3
    },
    "risk": {
      "range_context": 0.139063,
      "annualized_volatility": 0.463389,
      "from_high_reference": -0.333109,
      "from_low_reference": 1.056426
    },
    "levels": {
      "trend_reference": 67608.549349,
      "fair_value_reference": 35795.333847,
      "structural_low": 51740.03996,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 6,
        "median_return": -0.014986,
        "positive_rate": 0.333333,
        "directional_follow_through": 0.333333,
        "median_excess_return": 0.000538,
        "regime_survival": 0.333333,
        "best_return": 0.283448,
        "worst_return": -0.055114,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 4,
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        "positive_rate": 0.75,
        "directional_follow_through": 0.75,
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        "regime_survival": 0.0,
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        "worst_return": -0.088777,
        "sufficient": false
      },
      {
        "horizon": "Extended",
        "sample_count": 3,
        "median_return": -0.04375,
        "positive_rate": 0.333333,
        "directional_follow_through": 0.333333,
        "median_excess_return": 0.006414,
        "regime_survival": 0.0,
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        "worst_return": -0.144815,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
        "sample_count": 3,
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        "worst_return": -0.219676,
        "sufficient": false
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        "regime": "upward_expansion",
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      {
        "regime": "deceleration",
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      },
      {
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        "regime": "downward_expansion",
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      {
        "regime": "balance",
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      },
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      },
      {
        "date": "2026-07-31",
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      },
      {
        "date": "2026-08-07",
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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."
    }
  }
}