{
  "ticker": {
    "uuid": "8c5a1b1e-b000-4c3c-aac0-af5413cc9e93",
    "symbol": "V3ML",
    "name": "Vanguard ESG Emerging Markets All Cap UCITS ETF USD Inc",
    "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": 77.615,
    "architecture_regime": "deceleration",
    "architecture_regime_label": "Deceleration",
    "architecture_modifier": "Recompressing",
    "architecture_gate": "up",
    "architecture_direction": 47.265,
    "architecture_energy": 24.962,
    "architecture_maturity": 60.542,
    "architecture_confidence": 88.68,
    "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": 35.48,
        "rotation_up": 32.32,
        "upward_expansion": 58.83,
        "deceleration": 85.31,
        "rotation_down": 32.66,
        "downward_expansion": 20.16
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      "activity_lines": [
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      "activity_state": "Compressed",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": 0.333333
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    "latest_close": 8.831,
    "trend_reference": 8.3907,
    "distance_from_trend": 0.052475,
    "trend_direction": "Improving",
    "fair_value": 6.650355,
    "distance_from_fair_value": 0.327899,
    "fair_value_direction": "Weakening",
    "relative_strength": 1.421603,
    "relative_strength_direction": "Weakening",
    "price_momentum": 0.071298,
    "excess_performance": 0.020063,
    "evidence": [
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        "label": "Price vs Trend",
        "positive": true,
        "value": 0.052475,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.041658,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.327899,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.054628,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.014216,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.081989,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.071298,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 2.956261,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 85011,
      "relative_activity": 4.664258,
      "balance": 2.956261,
      "dry_up": 1.79777,
      "accumulation_observations": 4,
      "distribution_observations": 1
    },
    "risk": {
      "range_context": 0.029277,
      "annualized_volatility": 0.192835,
      "from_high_reference": -0.006581,
      "from_low_reference": 0.241877
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    "levels": {
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      "fair_value_reference": 6.650355,
      "structural_low": 7.565,
      "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": 6,
        "median_return": 0.008356,
        "positive_rate": 0.833333,
        "directional_follow_through": 0.833333,
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        "worst_return": -0.005116,
        "sufficient": true
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        "horizon": "Intermediate",
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        "sufficient": true
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        "horizon": "Extended",
        "sample_count": 3,
        "median_return": 0.15474,
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        "worst_return": 0.071224,
        "sufficient": false
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        "horizon": "Full cycle",
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          8.305481
        ]
      },
      {
        "date": "2026-06-19",
        "close": 8.8895,
        "volume": 0,
        "typical_volume": 16971.05,
        "trend": 8.172337,
        "fair_value": 6.505198,
        "relative_strength": 7.918341,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 74.133412,
        "energy": 57.740592,
        "activity_lines": [
          8.751328,
          8.702031,
          8.476223,
          8.354997
        ]
      },
      {
        "date": "2026-06-26",
        "close": 8.615,
        "volume": 16671,
        "typical_volume": 17653.8,
        "trend": 8.20604,
        "fair_value": 6.526392,
        "relative_strength": 3.06292,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 58.193354,
        "energy": 44.439458,
        "activity_lines": [
          8.716912,
          8.693491,
          8.502421,
          8.383556
        ]
      },
      {
        "date": "2026-07-03",
        "close": 8.8335,
        "volume": 0,
        "typical_volume": 17581.8,
        "trend": 8.245205,
        "fair_value": 6.5492,
        "relative_strength": 3.884401,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 67.968385,
        "energy": 50.185606,
        "activity_lines": [
          8.755234,
          8.723495,
          8.54766,
          8.424037
        ]
      },
      {
        "date": "2026-07-10",
        "close": 8.8095,
        "volume": 13606,
        "typical_volume": 17936.75,
        "trend": 8.285839,
        "fair_value": 6.570546,
        "relative_strength": 5.233948,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 63.727149,
        "energy": 49.834024,
        "activity_lines": [
          8.782025,
          8.743194,
          8.588362,
          8.460443
        ]
      },
      {
        "date": "2026-07-17",
        "close": 8.4275,
        "volume": 14066,
        "typical_volume": 18555.2,
        "trend": 8.312523,
        "fair_value": 6.589939,
        "relative_strength": -0.32126,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 38.24762,
        "energy": 26.289522,
        "activity_lines": [
          8.666367,
          8.689857,
          8.590865,
          8.469582
        ]
      },
      {
        "date": "2026-07-24",
        "close": 8.4875,
        "volume": 19853,
        "typical_volume": 18656.45,
        "trend": 8.338698,
        "fair_value": 6.608348,
        "relative_strength": -0.908232,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 36.126565,
        "energy": 20.154718,
        "activity_lines": [
          8.590533,
          8.654417,
          8.598939,
          8.480871
        ]
      },
      {
        "date": "2026-07-31",
        "close": 8.531,
        "volume": 12135,
        "typical_volume": 19182.3,
        "trend": 8.361569,
        "fair_value": 6.627842,
        "relative_strength": -1.657252,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 28.912228,
        "energy": 19.859731,
        "activity_lines": [
          8.556,
          8.627976,
          8.608115,
          8.493278
        ]
      },
      {
        "date": "2026-08-07",
        "close": 8.831,
        "volume": 85011,
        "typical_volume": 18226.05,
        "trend": 8.3907,
        "fair_value": 6.650355,
        "relative_strength": 1.421603,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 47.264584,
        "energy": 24.961914,
        "activity_lines": [
          8.627067,
          8.657582,
          8.642218,
          8.523564
        ]
      }
    ],
    "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."
    }
  }
}