{
  "ticker": {
    "uuid": "7569b9ef-bafd-485c-ac15-3ad9a1bcb096",
    "symbol": "IWMO",
    "name": "iShares Edge MSCI World Momentum Factor UCITS ETF USD (Acc)",
    "exchange": "EBS",
    "country": "CH",
    "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": "^SSMI",
    "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": "deceleration",
    "architecture_regime_label": "Deceleration",
    "architecture_modifier": "Recompressing",
    "architecture_gate": "up",
    "architecture_direction": 31.175,
    "architecture_energy": 26.125,
    "architecture_maturity": 66.998,
    "architecture_confidence": 89.89,
    "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": 46.67,
        "rotation_up": 19.57,
        "upward_expansion": 54.39,
        "deceleration": 94.0,
        "rotation_down": 32.89,
        "downward_expansion": 20.39
      },
      "activity_lines": [
        114.544001,
        116.163637,
        115.171953,
        111.746689
      ],
      "activity_state": "Moderate",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": 0.0
    },
    "latest_close": 115.68,
    "trend_reference": 107.612001,
    "distance_from_trend": 0.074973,
    "trend_direction": "Improving",
    "fair_value": 83.831603,
    "distance_from_fair_value": 0.379909,
    "fair_value_direction": "Weakening",
    "relative_strength": 2.180359,
    "relative_strength_direction": "Weakening",
    "price_momentum": 0.165542,
    "excess_performance": 0.082658,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.074973,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.069702,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.379909,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.049634,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.021804,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.11835,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.165542,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 6.693932,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 241203,
      "relative_activity": 5.11728,
      "balance": 6.693932,
      "dry_up": 1.406418,
      "accumulation_observations": 2,
      "distribution_observations": 1
    },
    "risk": {
      "range_context": 0.038634,
      "annualized_volatility": 0.201179,
      "from_high_reference": -0.061496,
      "from_low_reference": 0.283764
    },
    "levels": {
      "trend_reference": 107.612001,
      "fair_value_reference": 83.831603,
      "structural_low": 90.110001,
      "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": 0.041673,
        "positive_rate": 1.0,
        "directional_follow_through": 1.0,
        "median_excess_return": -0.004127,
        "regime_survival": 0.166667,
        "best_return": 0.077776,
        "worst_return": 0.014982,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 5,
        "median_return": 0.007093,
        "positive_rate": 0.6,
        "directional_follow_through": 0.6,
        "median_excess_return": -0.024789,
        "regime_survival": 0.0,
        "best_return": 0.051699,
        "worst_return": -0.046136,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 5,
        "median_return": 0.110301,
        "positive_rate": 0.8,
        "directional_follow_through": 0.8,
        "median_excess_return": 0.055676,
        "regime_survival": 0.0,
        "best_return": 0.19329,
        "worst_return": -0.04919,
        "sufficient": true
      },
      {
        "horizon": "Full cycle",
        "sample_count": 3,
        "median_return": 0.126296,
        "positive_rate": 0.666667,
        "directional_follow_through": 0.666667,
        "median_excess_return": 0.08454,
        "regime_survival": 0.0,
        "best_return": 0.171549,
        "worst_return": -0.219275,
        "sufficient": false
      }
    ],
    "ledger": [
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2024-08-23",
        "end": "2024-09-27",
        "tenure": "Developing",
        "return": 0.021046,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2024-10-04",
        "end": "2025-01-03",
        "tenure": "Established",
        "return": 0.018549,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2025-01-10",
        "end": "2025-01-24",
        "tenure": "New",
        "return": 0.066431,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-01-31",
        "end": "2025-03-28",
        "tenure": "Developing",
        "return": -0.063679,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2025-04-04",
        "end": "2025-04-11",
        "tenure": "New",
        "return": 0.047771,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2025-04-18",
        "end": "2025-05-02",
        "tenure": "New",
        "return": 0.083895,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-05-09",
        "end": "2025-05-16",
        "tenure": "New",
        "return": 0.039014,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
        "start": "2025-05-23",
        "end": "2025-05-30",
        "tenure": "New",
        "return": 0.028118,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-06-06",
        "end": "2025-11-07",
        "tenure": "Established",
        "return": 0.058737,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2025-11-14",
        "end": "2025-12-12",
        "tenure": "Developing",
        "return": 0.014982,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-12-19",
        "end": "2026-03-27",
        "tenure": "Established",
        "return": -0.052398,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2026-04-03",
        "end": "2026-04-17",
        "tenure": "New",
        "return": 0.114429,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2026-04-24",
        "end": "2026-07-17",
        "tenure": "Established",
        "return": 0.051598,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2026-07-24",
        "end": "2026-08-07",
        "tenure": "New",
        "return": 0.006088,
        "active": true
      }
    ],
    "chart_path": [
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        "date": "2023-08-18",
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        "typical_volume": 4118.45,
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        "date": "2023-08-25",
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        "typical_volume": 16682.7,
        "trend": 98.060667,
        "fair_value": 78.441795,
        "relative_strength": 8.115278,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 68.16118,
        "energy": 75.920111,
        "activity_lines": [
          105.588002,
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          100.353619,
          99.41071
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      },
      {
        "date": "2026-05-08",
        "close": 112.660004,
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        "typical_volume": 16746.0,
        "trend": 98.617334,
        "fair_value": 78.808397,
        "relative_strength": 14.015409,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 86.022927,
        "energy": 89.845999,
        "activity_lines": [
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      },
      {
        "date": "2026-05-15",
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        "volume": 10949,
        "typical_volume": 17050.65,
        "trend": 99.242667,
        "fair_value": 79.177436,
        "relative_strength": 12.988793,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 82.34175,
        "energy": 90.854379,
        "activity_lines": [
          110.454668,
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          102.807667,
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        ]
      },
      {
        "date": "2026-05-22",
        "close": 114.459999,
        "volume": 422712,
        "typical_volume": 37967.95,
        "trend": 99.910334,
        "fair_value": 79.562628,
        "relative_strength": 11.523329,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 80.269814,
        "energy": 90.464052,
        "activity_lines": [
          112.198667,
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          102.268731
        ]
      },
      {
        "date": "2026-05-29",
        "close": 116.660004,
        "volume": 16954,
        "typical_volume": 38666.45,
        "trend": 100.6,
        "fair_value": 79.959615,
        "relative_strength": 12.916655,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 81.244488,
        "energy": 91.145666,
        "activity_lines": [
          114.161335,
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      },
      {
        "date": "2026-06-05",
        "close": 116.18,
        "volume": 364,
        "typical_volume": 35143.4,
        "trend": 101.342333,
        "fair_value": 80.353974,
        "relative_strength": 13.319255,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 73.764891,
        "energy": 86.974375,
        "activity_lines": [
          115.318668,
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          104.354517
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      },
      {
        "date": "2026-06-12",
        "close": 118.120003,
        "volume": 6772,
        "typical_volume": 35112.45,
        "trend": 102.120334,
        "fair_value": 80.745833,
        "relative_strength": 12.131945,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 78.521706,
        "energy": 88.035483,
        "activity_lines": [
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      },
      {
        "date": "2026-06-19",
        "close": 122.720001,
        "volume": 2690,
        "typical_volume": 34892.45,
        "trend": 103.164334,
        "fair_value": 81.176731,
        "relative_strength": 15.504494,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 88.502198,
        "energy": 92.798357,
        "activity_lines": [
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      },
      {
        "date": "2026-06-26",
        "close": 120.540001,
        "volume": 77288,
        "typical_volume": 38532.95,
        "trend": 103.993667,
        "fair_value": 81.584808,
        "relative_strength": 9.999187,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 73.737128,
        "energy": 87.376489,
        "activity_lines": [
          119.797335,
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          111.279096,
          107.886968
        ]
      },
      {
        "date": "2026-07-03",
        "close": 119.519997,
        "volume": 344,
        "typical_volume": 37580.9,
        "trend": 104.741,
        "fair_value": 81.99391,
        "relative_strength": 6.964585,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 67.886182,
        "energy": 83.997488,
        "activity_lines": [
          120.022667,
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          112.501429,
          108.888667
        ]
      },
      {
        "date": "2026-07-10",
        "close": 117.980003,
        "volume": 10779,
        "typical_volume": 37630.8,
        "trend": 105.467,
        "fair_value": 82.378205,
        "relative_strength": 6.7798,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 66.107572,
        "energy": 70.7398,
        "activity_lines": [
          119.544001,
          118.497092,
          113.48262,
          109.742796
        ]
      },
      {
        "date": "2026-07-17",
        "close": 112.5,
        "volume": 7650,
        "typical_volume": 36819.5,
        "trend": 105.985334,
        "fair_value": 82.72968,
        "relative_strength": 0.974225,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 50.755558,
        "energy": 48.731028,
        "activity_lines": [
          117.118667,
          117.643637,
          113.86362,
          110.196538
        ]
      },
      {
        "date": "2026-07-24",
        "close": 114.980003,
        "volume": 6938,
        "typical_volume": 36552.1,
        "trend": 106.551334,
        "fair_value": 83.094616,
        "relative_strength": 3.208541,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 43.660427,
        "energy": 33.765597,
        "activity_lines": [
          115.894668,
          117.244001,
          114.427001,
          110.77684
        ]
      },
      {
        "date": "2026-07-31",
        "close": 112.959999,
        "volume": 9375,
        "typical_volume": 35367.05,
        "trend": 107.056,
        "fair_value": 83.453526,
        "relative_strength": 1.208498,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 34.995119,
        "energy": 27.520807,
        "activity_lines": [
          114.513334,
          116.44291,
          114.71343,
          111.190302
        ]
      },
      {
        "date": "2026-08-07",
        "close": 115.68,
        "volume": 241203,
        "typical_volume": 47135.0,
        "trend": 107.612001,
        "fair_value": 83.831603,
        "relative_strength": 2.180359,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 31.175415,
        "energy": 26.125356,
        "activity_lines": [
          114.544001,
          116.163637,
          115.171953,
          111.746689
        ]
      }
    ],
    "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."
    }
  }
}