{
  "ticker": {
    "uuid": "92af6c92-f5e4-4cea-8092-1d9346e063f1",
    "symbol": "UB23",
    "name": "UBS MSCI Canada UCITS ETF CAD dis",
    "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": 96.0,
    "architecture_regime": "upward_expansion",
    "architecture_regime_label": "Upward Expansion",
    "architecture_modifier": "Established expansion",
    "architecture_gate": "up",
    "architecture_direction": 88.889,
    "architecture_energy": 86.223,
    "architecture_maturity": 27.264,
    "architecture_confidence": 77.704,
    "architecture_tenure": "Developing",
    "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": 6.97,
        "rotation_up": 78.08,
        "upward_expansion": 94.18,
        "deceleration": 43.81,
        "rotation_down": 14.03,
        "downward_expansion": 18.51
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      "activity_lines": [
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      "activity_state": "Wide",
      "activity_direction": "Expanding",
      "rotation_direction": "Improving",
      "price_acceptance": 0.833333
    },
    "latest_close": 5018.5,
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    "distance_from_trend": 0.065796,
    "trend_direction": "Improving",
    "fair_value": 3773.943492,
    "distance_from_fair_value": 0.329776,
    "fair_value_direction": "Improving",
    "relative_strength": 1.49371,
    "relative_strength_direction": "Weakening",
    "price_momentum": 0.123546,
    "excess_performance": 0.072311,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.065796,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.036937,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.329776,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.03387,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.014937,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.017747,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.123546,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 6.553705,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 39534,
      "relative_activity": 1.21661,
      "balance": 6.553705,
      "dry_up": 0.663152,
      "accumulation_observations": 4,
      "distribution_observations": 0
    },
    "risk": {
      "range_context": 0.014558,
      "annualized_volatility": 0.107779,
      "from_high_reference": -0.358956,
      "from_low_reference": 0.311098
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    "levels": {
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      "fair_value_reference": 3773.943492,
      "structural_low": 4359.994141,
      "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": 27,
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        "positive_rate": 0.666667,
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        "median_excess_return": -1.3e-05,
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        "sufficient": true
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      },
      {
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      },
      {
        "date": "2026-07-17",
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      },
      {
        "date": "2026-07-24",
        "close": 4912.5,
        "volume": 16327,
        "typical_volume": 30948.75,
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        "fair_value": 3749.407923,
        "relative_strength": 1.148345,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
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        "energy": 62.863698,
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      },
      {
        "date": "2026-07-31",
        "close": 4888.5,
        "volume": 16732,
        "typical_volume": 31347.35,
        "trend": 4692.442757,
        "fair_value": 3761.160882,
        "relative_strength": -0.695115,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 66.641747,
        "energy": 59.57356,
        "activity_lines": [
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      },
      {
        "date": "2026-08-07",
        "close": 5018.5,
        "volume": 39534,
        "typical_volume": 32495.2,
        "trend": 4708.687581,
        "fair_value": 3773.943492,
        "relative_strength": 1.49371,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 88.888802,
        "energy": 86.222511,
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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."
    }
  }
}