{
  "ticker": {
    "uuid": "6280410c-9930-4d4b-bf1d-01f79b3b38e7",
    "symbol": "105190",
    "name": "KIMC KINDEX200 Securities Exchange Traded Investment Trust",
    "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": 62.568,
    "architecture_regime": "deceleration",
    "architecture_regime_label": "Deceleration",
    "architecture_modifier": "Recompressing",
    "architecture_gate": "up",
    "architecture_direction": -11.409,
    "architecture_energy": 29.113,
    "architecture_maturity": 63.962,
    "architecture_confidence": 78.091,
    "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": 49.37,
        "rotation_up": 14.05,
        "upward_expansion": 43.0,
        "deceleration": 87.84,
        "rotation_down": 53.46,
        "downward_expansion": 39.33
      },
      "activity_lines": [
        104943.858334,
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        117620.555692,
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      ],
      "activity_state": "Compressed",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": -0.666667
    },
    "latest_close": 98380.0,
    "trend_reference": 102162.94349,
    "distance_from_trend": -0.037029,
    "trend_direction": "Improving",
    "fair_value": 50072.734563,
    "distance_from_fair_value": 0.964742,
    "fair_value_direction": "Weakening",
    "relative_strength": 6.107585,
    "relative_strength_direction": "Weakening",
    "price_momentum": 0.308594,
    "excess_performance": 0.078766,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": false,
        "value": -0.037029,
        "read": "Below"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.260428,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.964742,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.768513,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.061076,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.034957,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.308594,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": false,
        "value": 0.493942,
        "read": "Supply-led"
      }
    ],
    "volume": {
      "latest": 2595134,
      "relative_activity": 1.372262,
      "balance": 0.493942,
      "dry_up": 1.449811,
      "accumulation_observations": 2,
      "distribution_observations": 3
    },
    "risk": {
      "range_context": 0.156311,
      "annualized_volatility": 0.516248,
      "from_high_reference": -0.357099,
      "from_low_reference": 1.362056
    },
    "levels": {
      "trend_reference": 102162.94349,
      "fair_value_reference": 50072.734563,
      "structural_low": 74593.114168,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 4,
        "median_return": 0.042786,
        "positive_rate": 0.75,
        "directional_follow_through": 0.75,
        "median_excess_return": 0.001353,
        "regime_survival": 0.0,
        "best_return": 0.311149,
        "worst_return": -0.013462,
        "sufficient": false
      },
      {
        "horizon": "Intermediate",
        "sample_count": 4,
        "median_return": 0.074759,
        "positive_rate": 1.0,
        "directional_follow_through": 1.0,
        "median_excess_return": 0.015012,
        "regime_survival": 0.25,
        "best_return": 0.364323,
        "worst_return": 0.006663,
        "sufficient": false
      },
      {
        "horizon": "Extended",
        "sample_count": 2,
        "median_return": 0.079981,
        "positive_rate": 1.0,
        "directional_follow_through": 1.0,
        "median_excess_return": 0.025434,
        "regime_survival": 0.0,
        "best_return": 0.113016,
        "worst_return": 0.046946,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
        "sample_count": 2,
        "median_return": 0.062739,
        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
        "median_excess_return": 0.027974,
        "regime_survival": 0.0,
        "best_return": 0.17564,
        "worst_return": -0.050161,
        "sufficient": false
      }
    ],
    "ledger": [
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        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2024-02-02",
        "end": "2024-02-16",
        "tenure": "New",
        "return": 0.005832,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
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        "end": "2024-04-26",
        "tenure": "Developing",
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        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2024-05-03",
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        "tenure": "New",
        "return": 0.016998,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
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        "end": "2024-08-09",
        "tenure": "Developing",
        "return": -0.0379,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
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        "end": "2024-09-06",
        "tenure": "New",
        "return": -0.070088,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
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        "end": "2024-09-20",
        "tenure": "New",
        "return": 0.001147,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2024-09-27",
        "end": "2025-01-24",
        "tenure": "Established",
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        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-01-31",
        "end": "2025-02-21",
        "tenure": "New",
        "return": 0.054967,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
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        "end": "2025-04-04",
        "tenure": "Developing",
        "return": -0.014404,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
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        "end": "2025-05-16",
        "tenure": "Developing",
        "return": 0.087193,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
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      },
      {
        "regime": "deceleration",
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      },
      {
        "regime": "upward_expansion",
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        "active": true
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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."
    }
  }
}