{
  "ticker": {
    "uuid": "726731ac-ec7c-41f6-8153-761147a035a0",
    "symbol": "GVF",
    "name": "Staude Capital Global Value Fund Limited",
    "exchange": "ASX",
    "country": "AU",
    "assetType": "equity"
  },
  "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": "^AXJO",
    "stage": 3,
    "stage_name": "Distribution",
    "phase": "3b",
    "phase_label": "Stage 3B \u00b7 Distribution",
    "transition": "stage_3_churning",
    "transition_label": "Stage 3 range intact",
    "confidence": 83.443,
    "architecture_regime": "upward_expansion",
    "architecture_regime_label": "Upward Expansion",
    "architecture_modifier": "Early expansion",
    "architecture_gate": "up",
    "architecture_direction": 61.422,
    "architecture_energy": 42.17,
    "architecture_maturity": 4.37,
    "architecture_confidence": 79.158,
    "architecture_tenure": "New",
    "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": 20.72,
        "rotation_up": 57.78,
        "upward_expansion": 81.72,
        "deceleration": 52.06,
        "rotation_down": 18.45,
        "downward_expansion": 6.06
      },
      "activity_lines": [
        1.375,
        1.37,
        1.352511,
        1.34389
      ],
      "activity_state": "Moderate",
      "activity_direction": "Expanding",
      "rotation_direction": "Stable",
      "price_acceptance": 0.833333
    },
    "latest_close": 1.38,
    "trend_reference": 1.340288,
    "distance_from_trend": 0.02963,
    "trend_direction": "Weakening",
    "fair_value": 1.207183,
    "distance_from_fair_value": 0.143157,
    "fair_value_direction": "Improving",
    "relative_strength": -2.745011,
    "relative_strength_direction": "Weakening",
    "price_momentum": 0.025249,
    "excess_performance": -0.038457,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.02963,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": false,
        "value": -0.005395,
        "read": "Falling"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.143157,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.019199,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.02745,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.014565,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.025249,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": false,
        "value": 0.897323,
        "read": "Supply-led"
      }
    ],
    "volume": {
      "latest": 303540,
      "relative_activity": 0.840012,
      "balance": 0.897323,
      "dry_up": 0.965537,
      "accumulation_observations": 0,
      "distribution_observations": 3
    },
    "risk": {
      "range_context": 0.025084,
      "annualized_volatility": 0.120136,
      "from_high_reference": -0.044025,
      "from_low_reference": 0.092543
    },
    "levels": {
      "trend_reference": 1.340288,
      "fair_value_reference": 1.207183,
      "structural_low": 1.263108,
      "invalidation": "A decisive breakout above range resistance with renewed RS leadership invalidates the distribution reading; a range-low break confirms deterioration."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 43,
        "median_return": 0.004237,
        "positive_rate": 0.604651,
        "directional_follow_through": 0.604651,
        "median_excess_return": 0.002849,
        "regime_survival": 0.837209,
        "best_return": 0.050929,
        "worst_return": -0.062937,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 15,
        "median_return": 0.022388,
        "positive_rate": 0.733333,
        "directional_follow_through": 0.733333,
        "median_excess_return": 0.022938,
        "regime_survival": 0.666667,
        "best_return": 0.087548,
        "worst_return": -0.078534,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 9,
        "median_return": 0.047237,
        "positive_rate": 0.777778,
        "directional_follow_through": 0.777778,
        "median_excess_return": 0.032203,
        "regime_survival": 0.666667,
        "best_return": 0.144093,
        "worst_return": -0.056078,
        "sufficient": true
      },
      {
        "horizon": "Full cycle",
        "sample_count": 4,
        "median_return": 0.073942,
        "positive_rate": 1.0,
        "directional_follow_through": 1.0,
        "median_excess_return": 0.029728,
        "regime_survival": 0.5,
        "best_return": 0.212393,
        "worst_return": 0.046755,
        "sufficient": false
      }
    ],
    "ledger": [
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
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        "end": "2023-09-01",
        "tenure": "Developing",
        "return": 0.03111,
        "active": false
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      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
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        "end": "2023-10-13",
        "tenure": "Developing",
        "return": 0.011509,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2023-10-20",
        "end": "2023-11-03",
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        "regime": "upward_expansion",
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      },
      {
        "regime": "deceleration",
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      },
      {
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        "tenure": "Established",
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        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
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        "end": "2024-08-23",
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        "active": false
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        "regime": "upward_expansion",
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        "tenure": "Extended",
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        "active": false
      },
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        "regime": "deceleration",
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        "end": "2026-02-20",
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        "return": -0.028571,
        "active": false
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      {
        "regime": "rotation_down",
        "label": "Rotation Down",
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        "return": -0.029197,
        "active": false
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        "regime": "downward_expansion",
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        "active": false
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        "regime": "balance",
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        "active": false
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      },
      {
        "date": "2026-04-17",
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      },
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        "date": "2026-05-01",
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        "date": "2026-05-08",
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        "date": "2026-06-05",
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      },
      {
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      },
      {
        "date": "2026-07-03",
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        "gate": "mixed",
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      },
      {
        "date": "2026-07-10",
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        "typical_volume": 388994.8,
        "trend": 1.344559,
        "fair_value": 1.196711,
        "relative_strength": 2.412639,
        "stage": 3,
        "regime": "rotation_up",
        "modifier": "Structural repair",
        "gate": "mixed",
        "direction": 38.952501,
        "energy": 55.132589,
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      },
      {
        "date": "2026-07-17",
        "close": 1.36,
        "volume": 473919,
        "typical_volume": 398769.2,
        "trend": 1.342587,
        "fair_value": 1.19931,
        "relative_strength": 0.970807,
        "stage": 3,
        "regime": "rotation_up",
        "modifier": "Value reclamation",
        "gate": "mixed",
        "direction": 30.358164,
        "energy": 47.875273,
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          1.367667,
          1.355455,
          1.340074,
          1.337093
        ]
      },
      {
        "date": "2026-07-24",
        "close": 1.375,
        "volume": 289984,
        "typical_volume": 381628.1,
        "trend": 1.341115,
        "fair_value": 1.201978,
        "relative_strength": 2.302893,
        "stage": 3,
        "regime": "rotation_up",
        "modifier": "Value reclamation",
        "gate": "mixed",
        "direction": 34.154166,
        "energy": 50.905881,
        "activity_lines": [
          1.371,
          1.361,
          1.344369,
          1.339184
        ]
      },
      {
        "date": "2026-07-31",
        "close": 1.375,
        "volume": 328152,
        "typical_volume": 376651.85,
        "trend": 1.340943,
        "fair_value": 1.204592,
        "relative_strength": -0.025069,
        "stage": 3,
        "regime": "rotation_up",
        "modifier": "Value reclamation",
        "gate": "up",
        "direction": 58.237863,
        "energy": 49.223296,
        "activity_lines": [
          1.373333,
          1.365636,
          1.34841,
          1.34137
        ]
      },
      {
        "date": "2026-08-07",
        "close": 1.38,
        "volume": 303540,
        "typical_volume": 361351.95,
        "trend": 1.340288,
        "fair_value": 1.207183,
        "relative_strength": -2.745011,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 61.421962,
        "energy": 42.170344,
        "activity_lines": [
          1.375,
          1.37,
          1.352511,
          1.34389
        ]
      }
    ],
    "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."
    }
  }
}