{
  "ticker": {
    "uuid": "8204b2fa-334e-4635-a7f6-5ccf44f6a892",
    "symbol": "V3MA",
    "name": "Vanguard ESG Emerging Markets All Cap UCITS ETF USD Acc",
    "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": 68.372,
    "architecture_regime": "deceleration",
    "architecture_regime_label": "Deceleration",
    "architecture_modifier": "Recompressing",
    "architecture_gate": "up",
    "architecture_direction": 48.217,
    "architecture_energy": 25.617,
    "architecture_maturity": 61.611,
    "architecture_confidence": 82.82,
    "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": 34.04,
        "rotation_up": 32.39,
        "upward_expansion": 59.07,
        "deceleration": 85.3,
        "rotation_down": 32.75,
        "downward_expansion": 20.4
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      "activity_lines": [
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        9.225598
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      "activity_state": "Compressed",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": 0.333333
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    "latest_close": 9.5735,
    "trend_reference": 9.0695,
    "distance_from_trend": 0.055571,
    "trend_direction": "Improving",
    "fair_value": 7.171067,
    "distance_from_fair_value": 0.335017,
    "fair_value_direction": "Weakening",
    "relative_strength": 1.845076,
    "relative_strength_direction": "Weakening",
    "price_momentum": 0.07834,
    "excess_performance": 0.027104,
    "evidence": [
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        "label": "Price vs Trend",
        "positive": true,
        "value": 0.055571,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.043639,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.335017,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.055664,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.018451,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.083747,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.07834,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": false,
        "value": 0.615361,
        "read": "Supply-led"
      }
    ],
    "volume": {
      "latest": 3481,
      "relative_activity": 0.626519,
      "balance": 0.615361,
      "dry_up": 1.58155,
      "accumulation_observations": 1,
      "distribution_observations": 3
    },
    "risk": {
      "range_context": 0.028817,
      "annualized_volatility": 0.200334,
      "from_high_reference": -0.008647,
      "from_low_reference": 0.252011
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    "levels": {
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      "fair_value_reference": 7.171067,
      "structural_low": 8.042,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
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    "outcomes": [
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        "horizon": "Near term",
        "sample_count": 7,
        "median_return": 0.001819,
        "positive_rate": 0.714286,
        "directional_follow_through": 0.714286,
        "median_excess_return": 0.021784,
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        "worst_return": -0.003083,
        "sufficient": true
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      {
        "horizon": "Intermediate",
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        "positive_rate": 1.0,
        "directional_follow_through": 1.0,
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        "worst_return": 0.053851,
        "sufficient": true
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        "horizon": "Extended",
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        "median_return": 0.161969,
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        "worst_return": 0.073029,
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        "horizon": "Full cycle",
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        "active": false
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        "regime": "upward_expansion",
        "label": "Upward Expansion",
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        "regime": "deceleration",
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        "regime": "rotation_down",
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        "regime": "balance",
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        "regime": "rotation_down",
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        "end": "2025-04-11",
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        "active": false
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        "regime": "downward_expansion",
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        "regime": "balance",
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        "gate": "up",
        "direction": 73.750123,
        "energy": 60.397252,
        "activity_lines": [
          9.485533,
          9.426855,
          9.171031,
          9.030282
        ]
      },
      {
        "date": "2026-06-26",
        "close": 9.323,
        "volume": 0,
        "typical_volume": 19666.7,
        "trend": 8.8596,
        "fair_value": 7.03526,
        "relative_strength": 3.381385,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 58.805366,
        "energy": 46.149585,
        "activity_lines": [
          9.4431,
          9.416736,
          9.200671,
          9.062602
        ]
      },
      {
        "date": "2026-07-03",
        "close": 9.58,
        "volume": 2614,
        "typical_volume": 19266.45,
        "trend": 8.904117,
        "fair_value": 7.060244,
        "relative_strength": 4.414966,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 68.81088,
        "energy": 51.167206,
        "activity_lines": [
          9.487167,
          9.452091,
          9.252669,
          9.10908
        ]
      },
      {
        "date": "2026-07-10",
        "close": 9.553,
        "volume": 8153,
        "typical_volume": 19150.2,
        "trend": 8.950067,
        "fair_value": 7.08366,
        "relative_strength": 5.747342,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 64.271441,
        "energy": 50.486831,
        "activity_lines": [
          9.518467,
          9.475864,
          9.299362,
          9.150943
        ]
      },
      {
        "date": "2026-07-17",
        "close": 9.137,
        "volume": 25832,
        "typical_volume": 14885.65,
        "trend": 8.980617,
        "fair_value": 7.104968,
        "relative_strength": 0.133625,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 40.792184,
        "energy": 28.096376,
        "activity_lines": [
          9.3946,
          9.418782,
          9.304198,
          9.163003
        ]
      },
      {
        "date": "2026-07-24",
        "close": 9.182,
        "volume": 1414,
        "typical_volume": 5508.55,
        "trend": 9.00995,
        "fair_value": 7.125099,
        "relative_strength": -0.680207,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 36.706851,
        "energy": 21.17757,
        "activity_lines": [
          9.306667,
          9.377418,
          9.312895,
          9.175996
        ]
      },
      {
        "date": "2026-07-31",
        "close": 9.2415,
        "volume": 4422,
        "typical_volume": 5394.5,
        "trend": 9.036217,
        "fair_value": 7.146449,
        "relative_strength": -1.306875,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 29.440405,
        "energy": 20.13709,
        "activity_lines": [
          9.268833,
          9.348118,
          9.323788,
          9.190934
        ]
      },
      {
        "date": "2026-08-07",
        "close": 9.5735,
        "volume": 3481,
        "typical_volume": 5556.1,
        "trend": 9.0695,
        "fair_value": 7.171067,
        "relative_strength": 1.845076,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 48.217002,
        "energy": 25.617363,
        "activity_lines": [
          9.3471,
          9.380891,
          9.362164,
          9.225598
        ]
      }
    ],
    "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."
    }
  }
}