{
  "ticker": {
    "uuid": "57981c8c-37d5-46c2-a3b8-15a70489ce83",
    "symbol": "KSM-F6",
    "name": "KSM Mutual Funds Ltd. - KSM ETF (4D) LBMA Gold Price PM USD",
    "exchange": "TLV",
    "country": "IL",
    "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": "TA35.TA",
    "stage": 4,
    "stage_name": "Declining",
    "phase": "4b",
    "phase_label": "Stage 4B \u00b7 Declining",
    "transition": "stage_4_declining",
    "transition_label": "Stage 4 decline intact",
    "confidence": 96.0,
    "architecture_regime": "downward_expansion",
    "architecture_regime_label": "Downward Expansion",
    "architecture_modifier": "Established contraction",
    "architecture_gate": "down",
    "architecture_direction": -55.491,
    "architecture_energy": 64.056,
    "architecture_maturity": 95.0,
    "architecture_confidence": 65.777,
    "architecture_tenure": "Developing",
    "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": 18.19,
        "rotation_up": 27.99,
        "upward_expansion": 22.5,
        "deceleration": 67.0,
        "rotation_down": 50.37,
        "downward_expansion": 70.17
      },
      "activity_lines": [
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      "activity_state": "Wide",
      "activity_direction": "Contracting",
      "rotation_direction": "Improving",
      "price_acceptance": -0.333333
    },
    "latest_close": 99.2496,
    "trend_reference": 7558.996156,
    "distance_from_trend": -0.98687,
    "trend_direction": "Weakening",
    "fair_value": 7798.725094,
    "distance_from_fair_value": -0.987274,
    "fair_value_direction": "Weakening",
    "relative_strength": -98.976878,
    "relative_strength_direction": "Weakening",
    "price_momentum": -0.991583,
    "excess_performance": -1.020483,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": false,
        "value": -0.98687,
        "read": "Below"
      },
      {
        "label": "Trend direction",
        "positive": false,
        "value": -0.317921,
        "read": "Falling"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": false,
        "value": -0.987274,
        "read": "Below anchor"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -1.296132,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.989769,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.776046,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": false,
        "value": -0.991583,
        "read": "Negative"
      },
      {
        "label": "Volume balance",
        "positive": false,
        "value": 0.559804,
        "read": "Supply-led"
      }
    ],
    "volume": {
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      "relative_activity": 0.608788,
      "balance": 0.559804,
      "dry_up": 0.8463,
      "accumulation_observations": 1,
      "distribution_observations": 2
    },
    "risk": {
      "range_context": 8.382602,
      "annualized_volatility": 6.351865,
      "from_high_reference": -0.992515,
      "from_low_reference": 0.0788
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    "levels": {
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      "fair_value_reference": 7798.725094,
      "structural_low": 92.0,
      "invalidation": "Reclaiming a flat-to-rising Trend with improving relative strength is required before the declining diagnosis is repaired."
    },
    "outcomes": [
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        "horizon": "Near term",
        "sample_count": 11,
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        "positive_rate": 0.727273,
        "directional_follow_through": 0.272727,
        "median_excess_return": -0.016835,
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        "worst_return": -0.037972,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
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        "directional_follow_through": 0.0,
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        "sufficient": false
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      {
        "horizon": "Extended",
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      {
        "horizon": "Full cycle",
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        "regime": "upward_expansion",
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        "regime": "deceleration",
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        "regime": "upward_expansion",
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        "regime": "upward_expansion",
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      },
      {
        "date": "2026-07-17",
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      },
      {
        "date": "2026-07-24",
        "close": 94.850898,
        "volume": 2915,
        "typical_volume": 5794.35,
        "trend": 8278.921169,
        "fair_value": 7871.613365,
        "relative_strength": -99.086578,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
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        "direction": -67.299202,
        "energy": 68.483669,
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      },
      {
        "date": "2026-07-31",
        "close": 95.0,
        "volume": 7163,
        "typical_volume": 5740.1,
        "trend": 7922.454503,
        "fair_value": 7835.179583,
        "relative_strength": -99.040464,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -65.9107,
        "energy": 67.882802,
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      },
      {
        "date": "2026-08-07",
        "close": 99.2496,
        "volume": 3179,
        "typical_volume": 5221.85,
        "trend": 7558.996156,
        "fair_value": 7798.725094,
        "relative_strength": -98.976878,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -55.490854,
        "energy": 64.055824,
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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."
    }
  }
}