{
  "ticker": {
    "uuid": "819c6ea6-9f1f-43f6-9d60-80546199d72a",
    "symbol": "VWRL",
    "name": "Vanguard FTSE All-World UCITS ETF",
    "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": "upward_expansion",
    "architecture_regime_label": "Upward Expansion",
    "architecture_modifier": "Established expansion",
    "architecture_gate": "up",
    "architecture_direction": 86.923,
    "architecture_energy": 69.801,
    "architecture_maturity": 78.972,
    "architecture_confidence": 79.754,
    "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": 8.22,
        "rotation_up": 58.98,
        "upward_expansion": 85.33,
        "deceleration": 68.29,
        "rotation_down": 28.05,
        "downward_expansion": 12.0
      },
      "activity_lines": [
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        142.318116
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      "activity_state": "Wide",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": 0.666667
    },
    "latest_close": 152.320007,
    "trend_reference": 138.624501,
    "distance_from_trend": 0.098796,
    "trend_direction": "Improving",
    "fair_value": 118.831833,
    "distance_from_fair_value": 0.281811,
    "fair_value_direction": "Improving",
    "relative_strength": 2.405314,
    "relative_strength_direction": "Weakening",
    "price_momentum": 0.155063,
    "excess_performance": 0.072179,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.098796,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.041533,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.281811,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.05739,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.024053,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.038179,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.155063,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 2.827119,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 131447,
      "relative_activity": 2.105984,
      "balance": 2.827119,
      "dry_up": 1.49161,
      "accumulation_observations": 5,
      "distribution_observations": 2
    },
    "risk": {
      "range_context": 0.018711,
      "annualized_volatility": 0.11505,
      "from_high_reference": -0.002488,
      "from_low_reference": 0.243652
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    "levels": {
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      "fair_value_reference": 118.831833,
      "structural_low": 124.419998,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
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        "horizon": "Near term",
        "sample_count": 36,
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        "directional_follow_through": 0.611111,
        "median_excess_return": -9e-05,
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        "worst_return": -0.109713,
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      },
      {
        "date": "2026-04-24",
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        "fair_value": 113.933528,
        "relative_strength": 3.650549,
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        "regime": "balance",
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      },
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        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
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      },
      {
        "date": "2026-05-08",
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      },
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        "date": "2026-05-15",
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        "modifier": "Re-accelerating",
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      },
      {
        "date": "2026-05-22",
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        "trend": 132.66345,
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        "relative_strength": 4.430736,
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      },
      {
        "date": "2026-05-29",
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        "volume": 100096,
        "typical_volume": 84453.9,
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        "relative_strength": 5.013889,
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      },
      {
        "date": "2026-06-05",
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        "typical_volume": 81613.2,
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        "fair_value": 115.803855,
        "relative_strength": 6.076728,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
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        "energy": 88.881189,
        "activity_lines": [
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      },
      {
        "date": "2026-06-12",
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        "volume": 11986,
        "typical_volume": 78135.0,
        "trend": 134.161573,
        "fair_value": 116.114998,
        "relative_strength": 3.896017,
        "stage": 2,
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      },
      {
        "date": "2026-06-19",
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      },
      {
        "date": "2026-06-26",
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        "trend": 135.345398,
        "fair_value": 116.783195,
        "relative_strength": 1.110046,
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        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 69.492031,
        "energy": 86.207309,
        "activity_lines": [
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      },
      {
        "date": "2026-07-03",
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        "volume": 8985,
        "typical_volume": 67478.65,
        "trend": 135.857222,
        "fair_value": 117.124381,
        "relative_strength": 0.315196,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
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        "energy": 88.903926,
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      },
      {
        "date": "2026-07-10",
        "close": 148.559998,
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        "typical_volume": 66148.35,
        "trend": 136.468598,
        "fair_value": 117.470757,
        "relative_strength": 2.108087,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 77.726097,
        "energy": 88.911184,
        "activity_lines": [
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      },
      {
        "date": "2026-07-17",
        "close": 146.220001,
        "volume": 92565,
        "typical_volume": 65297.05,
        "trend": 136.982776,
        "fair_value": 117.798567,
        "relative_strength": -0.290601,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 67.070705,
        "energy": 70.705307,
        "activity_lines": [
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          142.957349,
          140.082095
        ]
      },
      {
        "date": "2026-07-24",
        "close": 148.020004,
        "volume": 70554,
        "typical_volume": 62287.9,
        "trend": 137.547648,
        "fair_value": 118.129186,
        "relative_strength": 1.018894,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 71.719345,
        "energy": 66.386208,
        "activity_lines": [
          147.494668,
          146.956861,
          143.805679,
          140.794174
        ]
      },
      {
        "date": "2026-07-31",
        "close": 146.899994,
        "volume": 77835,
        "typical_volume": 60105.55,
        "trend": 138.051253,
        "fair_value": 118.460125,
        "relative_strength": 0.149175,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 63.782563,
        "energy": 60.665494,
        "activity_lines": [
          147.341332,
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          144.465031,
          141.397551
        ]
      },
      {
        "date": "2026-08-07",
        "close": 152.320007,
        "volume": 131447,
        "typical_volume": 62415.95,
        "trend": 138.624501,
        "fair_value": 118.831833,
        "relative_strength": 2.405314,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 86.923233,
        "energy": 69.800752,
        "activity_lines": [
          148.950668,
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          145.55505,
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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."
    }
  }
}