{
  "ticker": {
    "uuid": "70484937-5d5d-4f69-a996-359ca8a81aa7",
    "symbol": "VNRA",
    "name": "Vanguard FTSE North America UCITS ETF USD Accumulation",
    "exchange": "LSE",
    "country": "GB",
    "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": "^FTSE",
    "stage": 2,
    "stage_name": "Advancing",
    "phase": "2b",
    "phase_label": "Stage 2B \u00b7 Advancing",
    "transition": "stage_2_healthy",
    "transition_label": "Stage 2 trend intact",
    "confidence": 96.0,
    "architecture_regime": "upward_expansion",
    "architecture_regime_label": "Upward Expansion",
    "architecture_modifier": "Established expansion",
    "architecture_gate": "up",
    "architecture_direction": 84.541,
    "architecture_energy": 61.483,
    "architecture_maturity": 56.967,
    "architecture_confidence": 73.164,
    "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": 24.74,
        "rotation_up": 54.08,
        "upward_expansion": 80.42,
        "deceleration": 67.03,
        "rotation_down": 27.16,
        "downward_expansion": 9.42
      },
      "activity_lines": [
        190.385336,
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        187.514667,
        183.830967
      ],
      "activity_state": "Moderate",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": 0.5
    },
    "latest_close": 195.460007,
    "trend_reference": 179.633332,
    "distance_from_trend": 0.088105,
    "trend_direction": "Improving",
    "fair_value": 146.654743,
    "distance_from_fair_value": 0.33279,
    "fair_value_direction": "Improving",
    "relative_strength": 3.286432,
    "relative_strength_direction": "Weakening",
    "price_momentum": 0.131789,
    "excess_performance": 0.080554,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.088105,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.03478,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.33279,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.007943,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.032864,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.02042,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.131789,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 1.297729,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 61024,
      "relative_activity": 0.991101,
      "balance": 1.297729,
      "dry_up": 1.382534,
      "accumulation_observations": 4,
      "distribution_observations": 3
    },
    "risk": {
      "range_context": 0.019407,
      "annualized_volatility": 0.128374,
      "from_high_reference": -0.003467,
      "from_low_reference": 0.230547
    },
    "levels": {
      "trend_reference": 179.633332,
      "fair_value_reference": 146.654743,
      "structural_low": 160.427704,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 40,
        "median_return": 0.014222,
        "positive_rate": 0.675,
        "directional_follow_through": 0.675,
        "median_excess_return": 0.009764,
        "regime_survival": 0.775,
        "best_return": 0.063574,
        "worst_return": -0.058761,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 15,
        "median_return": 0.044591,
        "positive_rate": 0.8,
        "directional_follow_through": 0.8,
        "median_excess_return": 0.012566,
        "regime_survival": 0.666667,
        "best_return": 0.124866,
        "worst_return": -0.080067,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 8,
        "median_return": 0.093679,
        "positive_rate": 0.875,
        "directional_follow_through": 0.875,
        "median_excess_return": 0.02061,
        "regime_survival": 0.625,
        "best_return": 0.17159,
        "worst_return": -0.161801,
        "sufficient": true
      },
      {
        "horizon": "Full cycle",
        "sample_count": 4,
        "median_return": 0.178704,
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        "directional_follow_through": 0.75,
        "median_excess_return": -0.000205,
        "regime_survival": 0.5,
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        "worst_return": -0.108819,
        "sufficient": false
      }
    ],
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        "label": "Deceleration",
        "color": "amber",
        "start": "2024-08-16",
        "end": "2024-08-30",
        "tenure": "New",
        "return": 0.01177,
        "active": false
      },
      {
        "regime": "upward_expansion",
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        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
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        "end": "2025-01-31",
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        "active": false
      },
      {
        "regime": "upward_expansion",
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        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
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        "end": "2025-03-21",
        "tenure": "New",
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        "active": false
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      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
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        "end": "2025-04-04",
        "tenure": "New",
        "return": -0.073178,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2025-04-11",
        "end": "2025-05-16",
        "tenure": "Developing",
        "return": 0.130881,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
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        "active": false
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      {
        "regime": "rotation_up",
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        "active": false
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        "typical_volume": 93242.5,
        "trend": 170.549,
        "fair_value": 138.760577,
        "relative_strength": 0.806037,
        "stage": 3,
        "regime": "rotation_up",
        "modifier": "Emerging rotation",
        "gate": "up",
        "direction": 62.372713,
        "energy": 46.490105,
        "activity_lines": [
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      },
      {
        "date": "2026-05-01",
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        "typical_volume": 95189.8,
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        "fair_value": 139.287564,
        "relative_strength": 2.421245,
        "stage": 2,
        "regime": "rotation_up",
        "modifier": "Value reclamation",
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        "energy": 63.298198,
        "activity_lines": [
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      },
      {
        "date": "2026-05-08",
        "close": 185.259995,
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        "typical_volume": 81432.1,
        "trend": 171.616333,
        "fair_value": 139.834936,
        "relative_strength": 5.328472,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
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        "direction": 83.057047,
        "energy": 87.998414,
        "activity_lines": [
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      },
      {
        "date": "2026-05-15",
        "close": 186.179993,
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        "typical_volume": 83545.05,
        "trend": 172.300332,
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        "relative_strength": 6.092438,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 80.023535,
        "energy": 89.571092,
        "activity_lines": [
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      },
      {
        "date": "2026-05-22",
        "close": 188.020004,
        "volume": 75520,
        "typical_volume": 85490.15,
        "trend": 172.952332,
        "fair_value": 140.931474,
        "relative_strength": 4.208319,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 80.137611,
        "energy": 90.922302,
        "activity_lines": [
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      },
      {
        "date": "2026-05-29",
        "close": 190.460007,
        "volume": 100586,
        "typical_volume": 87790.5,
        "trend": 173.595666,
        "fair_value": 141.487756,
        "relative_strength": 5.960174,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 81.944472,
        "energy": 92.077957,
        "activity_lines": [
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        ]
      },
      {
        "date": "2026-06-05",
        "close": 188.279999,
        "volume": 8492,
        "typical_volume": 82543.0,
        "trend": 174.323665,
        "fair_value": 142.026987,
        "relative_strength": 5.021298,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 67.499911,
        "energy": 84.005257,
        "activity_lines": [
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          176.863762
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      },
      {
        "date": "2026-06-12",
        "close": 187.039993,
        "volume": 11402,
        "typical_volume": 80364.35,
        "trend": 174.918999,
        "fair_value": 142.538525,
        "relative_strength": 3.196249,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 65.613476,
        "energy": 72.437984,
        "activity_lines": [
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      },
      {
        "date": "2026-06-19",
        "close": 188.399994,
        "volume": 1609,
        "typical_volume": 75732.55,
        "trend": 175.714998,
        "fair_value": 143.071218,
        "relative_strength": 4.900533,
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        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 65.965325,
        "energy": 66.58345,
        "activity_lines": [
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      },
      {
        "date": "2026-06-26",
        "close": 185.539993,
        "volume": 19506,
        "typical_volume": 71725.45,
        "trend": 176.186998,
        "fair_value": 143.570448,
        "relative_strength": 1.872613,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 61.345439,
        "energy": 54.863712,
        "activity_lines": [
          187.295995,
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          182.021521,
          179.187783
        ]
      },
      {
        "date": "2026-07-03",
        "close": 188.820007,
        "volume": 5465,
        "typical_volume": 65992.0,
        "trend": 176.741665,
        "fair_value": 144.094807,
        "relative_strength": 2.011112,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 58.603706,
        "energy": 52.068583,
        "activity_lines": [
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      },
      {
        "date": "2026-07-10",
        "close": 190.220001,
        "volume": 103342,
        "typical_volume": 68215.8,
        "trend": 177.384332,
        "fair_value": 144.611795,
        "relative_strength": 4.470581,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 72.369413,
        "energy": 59.70283,
        "activity_lines": [
          188.456,
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          180.872386
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      },
      {
        "date": "2026-07-17",
        "close": 188.279999,
        "volume": 91384,
        "typical_volume": 66530.05,
        "trend": 177.946999,
        "fair_value": 145.110512,
        "relative_strength": 2.369421,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 61.260182,
        "energy": 56.352804,
        "activity_lines": [
          188.548,
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          184.994665,
          181.575332
        ]
      },
      {
        "date": "2026-07-24",
        "close": 187.5,
        "volume": 72996,
        "typical_volume": 65771.25,
        "trend": 178.418332,
        "fair_value": 145.598589,
        "relative_strength": 0.655607,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 60.789504,
        "energy": 53.374185,
        "activity_lines": [
          188.297334,
          188.185454,
          185.676761,
          182.191655
        ]
      },
      {
        "date": "2026-07-31",
        "close": 187.300003,
        "volume": 115097,
        "typical_volume": 65743.55,
        "trend": 178.932332,
        "fair_value": 146.095,
        "relative_strength": -0.679182,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 57.554048,
        "energy": 47.867713,
        "activity_lines": [
          188.040001,
          188.011636,
          186.255047,
          182.764666
        ]
      },
      {
        "date": "2026-08-07",
        "close": 195.460007,
        "volume": 61024,
        "typical_volume": 61571.9,
        "trend": 179.633332,
        "fair_value": 146.654743,
        "relative_strength": 3.286432,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 84.540834,
        "energy": 61.483138,
        "activity_lines": [
          190.385336,
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          187.514667,
          183.830967
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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."
    }
  }
}