{
  "ticker": {
    "uuid": "76acbaee-2a2f-462f-bb3b-ea53b701235d",
    "symbol": "IS-FF301",
    "name": "iShares III Public Limited Company - iShares MSCI Europe UCITS ETF EUR (Acc)",
    "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": -52.786,
    "architecture_energy": 63.03,
    "architecture_maturity": 99.0,
    "architecture_confidence": 62.767,
    "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": 25.75,
        "rotation_up": 27.98,
        "upward_expansion": 22.5,
        "deceleration": 67.0,
        "rotation_down": 44.33,
        "downward_expansion": 65.5
      },
      "activity_lines": [
        367.98,
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        9092.824286,
        15630.946452
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      "activity_state": "Wide",
      "activity_direction": "Contracting",
      "rotation_direction": "Improving",
      "price_acceptance": 0.0
    },
    "latest_close": 371.6,
    "trend_reference": 23225.523333,
    "distance_from_trend": -0.984,
    "trend_direction": "Weakening",
    "fair_value": 30096.446795,
    "distance_from_fair_value": -0.987653,
    "fair_value_direction": "Weakening",
    "relative_strength": -98.82601,
    "relative_strength_direction": "Weakening",
    "price_momentum": -0.989623,
    "excess_performance": -1.018523,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": false,
        "value": -0.984,
        "read": "Below"
      },
      {
        "label": "Trend direction",
        "positive": false,
        "value": -0.330278,
        "read": "Falling"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": false,
        "value": -0.987653,
        "read": "Below anchor"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -1.046309,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.98826,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.721911,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": false,
        "value": -0.989623,
        "read": "Negative"
      },
      {
        "label": "Volume balance",
        "positive": false,
        "value": 0.657659,
        "read": "Supply-led"
      }
    ],
    "volume": {
      "latest": 18166,
      "relative_activity": 1.647792,
      "balance": 0.657659,
      "dry_up": 1.058942,
      "accumulation_observations": 1,
      "distribution_observations": 4
    },
    "risk": {
      "range_context": 7.356152,
      "annualized_volatility": 6.348018,
      "from_high_reference": -0.990088,
      "from_low_reference": 0.095196
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    "levels": {
      "trend_reference": 23225.523333,
      "fair_value_reference": 30096.446795,
      "structural_low": 339.3,
      "invalidation": "Reclaiming a flat-to-rising Trend with improving relative strength is required before the declining diagnosis is repaired."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 17,
        "median_return": 0.011321,
        "positive_rate": 0.529412,
        "directional_follow_through": 0.470588,
        "median_excess_return": -0.017878,
        "regime_survival": 0.823529,
        "best_return": 0.138846,
        "worst_return": -0.989549,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 5,
        "median_return": 0.007086,
        "positive_rate": 0.6,
        "directional_follow_through": 0.4,
        "median_excess_return": 0.028182,
        "regime_survival": 0.4,
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        "worst_return": -0.116095,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 3,
        "median_return": 0.008385,
        "positive_rate": 0.666667,
        "directional_follow_through": 0.333333,
        "median_excess_return": -0.040735,
        "regime_survival": 0.333333,
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        "worst_return": -0.049895,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
        "sample_count": 2,
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        "positive_rate": 0.5,
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        "best_return": 0.136215,
        "worst_return": -0.041929,
        "sufficient": false
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    ],
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        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
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        "end": "2024-08-30",
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        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
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      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
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        "end": "2024-11-29",
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        "active": false
      },
      {
        "regime": "downward_expansion",
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      },
      {
        "regime": "rotation_up",
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      },
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        "end": "2025-05-09",
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        "active": false
      },
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        "end": "2025-10-31",
        "tenure": "Established",
        "return": 0.011834,
        "active": false
      },
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        "regime": "balance",
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        "active": false
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        "regime": "upward_expansion",
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      },
      {
        "date": "2026-04-10",
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      {
        "date": "2026-04-17",
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      {
        "date": "2026-04-24",
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        "date": "2026-05-08",
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        "date": "2026-05-15",
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        "date": "2026-05-22",
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      },
      {
        "date": "2026-06-12",
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      },
      {
        "date": "2026-06-26",
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      },
      {
        "date": "2026-07-03",
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      },
      {
        "date": "2026-07-10",
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        "modifier": "Early contraction",
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      },
      {
        "date": "2026-07-17",
        "close": 361.1,
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        "typical_volume": 12299.3,
        "trend": 26716.923333,
        "fair_value": 30630.946795,
        "relative_strength": -98.941788,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -65.990917,
        "energy": 85.493674,
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          358.113333,
          3944.163636,
          14836.457143,
          20505.898925
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      },
      {
        "date": "2026-07-24",
        "close": 363.4,
        "volume": 7971,
        "typical_volume": 11572.8,
        "trend": 25555.703333,
        "fair_value": 30451.160897,
        "relative_strength": -98.935442,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -64.626651,
        "energy": 67.53605,
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          360.493333,
          2150.823636,
          12760.077619,
          18805.671613
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      },
      {
        "date": "2026-07-31",
        "close": 373.0,
        "volume": 9981,
        "typical_volume": 10809.7,
        "trend": 24397.136667,
        "fair_value": 30276.500641,
        "relative_strength": -98.84973,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -63.216793,
        "energy": 66.883275,
        "activity_lines": [
          365.186667,
          955.712727,
          10846.024762,
          17180.981075
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      },
      {
        "date": "2026-08-07",
        "close": 371.6,
        "volume": 18166,
        "typical_volume": 11024.45,
        "trend": 23225.523333,
        "fair_value": 30096.446795,
        "relative_strength": -98.82601,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -52.786205,
        "energy": 63.030249,
        "activity_lines": [
          367.98,
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          9092.824286,
          15630.946452
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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."
    }
  }
}