{
  "ticker": {
    "uuid": "92c8e431-b619-43bf-9878-1f6d99f07bad",
    "symbol": "00709",
    "name": "Fubon FTSE Developed Europe ETF",
    "exchange": "TAI",
    "country": "TW",
    "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": "^TWII",
    "stage": 3,
    "stage_name": "Distribution",
    "phase": "3a",
    "phase_label": "Stage 3A \u00b7 Churning",
    "transition": "stage_3_churning",
    "transition_label": "Stage 3 range intact",
    "confidence": 96.0,
    "architecture_regime": "upward_expansion",
    "architecture_regime_label": "Upward Expansion",
    "architecture_modifier": "Re-accelerating",
    "architecture_gate": "up",
    "architecture_direction": 77.195,
    "architecture_energy": 77.42,
    "architecture_maturity": 21.665,
    "architecture_confidence": 60.177,
    "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": 4.85,
        "rotation_up": 79.99,
        "upward_expansion": 94.36,
        "deceleration": 41.81,
        "rotation_down": 11.29,
        "downward_expansion": 16.36
      },
      "activity_lines": [
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        39.162043
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      "activity_state": "Wide",
      "activity_direction": "Expanding",
      "rotation_direction": "Improving",
      "price_acceptance": 1.0
    },
    "latest_close": 41.450001,
    "trend_reference": 38.709,
    "distance_from_trend": 0.07081,
    "trend_direction": "Improving",
    "fair_value": 31.637949,
    "distance_from_fair_value": 0.310136,
    "fair_value_direction": "Improving",
    "relative_strength": -17.497723,
    "relative_strength_direction": "Improving",
    "price_momentum": 0.071613,
    "excess_performance": -0.307699,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.07081,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.039828,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.310136,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.058652,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.174977,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.100257,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.071613,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 1.081419,
        "read": "Demand-led"
      }
    ],
    "volume": {
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      "relative_activity": 1.772867,
      "balance": 1.081419,
      "dry_up": 1.042452,
      "accumulation_observations": 1,
      "distribution_observations": 1
    },
    "risk": {
      "range_context": 0.024942,
      "annualized_volatility": 0.137027,
      "from_high_reference": -0.002407,
      "from_low_reference": 0.337097
    },
    "levels": {
      "trend_reference": 38.709,
      "fair_value_reference": 31.637949,
      "structural_low": 35.27,
      "invalidation": "A decisive breakout above range resistance with renewed RS leadership invalidates the distribution reading; a range-low break confirms deterioration."
    },
    "outcomes": [
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        "horizon": "Near term",
        "sample_count": 34,
        "median_return": 0.007569,
        "positive_rate": 0.588235,
        "directional_follow_through": 0.588235,
        "median_excess_return": -0.008313,
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        "worst_return": -0.040165,
        "sufficient": true
      },
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        "horizon": "Intermediate",
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        "sufficient": true
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        "sufficient": true
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        "horizon": "Full cycle",
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        "sufficient": false
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        "regime": "balance",
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      },
      {
        "date": "2026-05-01",
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      },
      {
        "date": "2026-05-08",
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      },
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        "date": "2026-05-15",
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      },
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        "date": "2026-05-22",
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      },
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      },
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        "date": "2026-06-05",
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        "relative_strength": -30.022036,
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        "activity_lines": [
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      },
      {
        "date": "2026-06-12",
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      },
      {
        "date": "2026-06-19",
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      },
      {
        "date": "2026-06-26",
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        "relative_strength": -26.134234,
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        "direction": 59.860379,
        "energy": 57.094018,
        "activity_lines": [
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      },
      {
        "date": "2026-07-03",
        "close": 40.290001,
        "volume": 51000,
        "typical_volume": 444040.85,
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        "fair_value": 31.1625,
        "relative_strength": -26.882132,
        "stage": 3,
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        "activity_lines": [
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      },
      {
        "date": "2026-07-10",
        "close": 40.009998,
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        "typical_volume": 444429.35,
        "trend": 38.139333,
        "fair_value": 31.255833,
        "relative_strength": -24.494476,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 71.623359,
        "energy": 76.167373,
        "activity_lines": [
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      },
      {
        "date": "2026-07-17",
        "close": 40.200001,
        "volume": 352311,
        "typical_volume": 442438.4,
        "trend": 38.275333,
        "fair_value": 31.352949,
        "relative_strength": -18.76127,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 72.808756,
        "energy": 77.001118,
        "activity_lines": [
          39.962,
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          38.888381,
          38.629763
        ]
      },
      {
        "date": "2026-07-24",
        "close": 40.549999,
        "volume": 323492,
        "typical_volume": 410632.35,
        "trend": 38.412,
        "fair_value": 31.446154,
        "relative_strength": -19.340822,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 76.459843,
        "energy": 81.941462,
        "activity_lines": [
          40.217333,
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          39.097333,
          38.776516
        ]
      },
      {
        "date": "2026-07-31",
        "close": 41.5,
        "volume": 276336,
        "typical_volume": 392272.9,
        "trend": 38.562333,
        "fair_value": 31.543013,
        "relative_strength": -15.850393,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 86.478097,
        "energy": 87.838759,
        "activity_lines": [
          40.707333,
          40.172182,
          39.384857,
          38.975742
        ]
      },
      {
        "date": "2026-08-07",
        "close": 41.450001,
        "volume": 704238,
        "typical_volume": 397231.15,
        "trend": 38.709,
        "fair_value": 31.637949,
        "relative_strength": -17.497723,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 77.194995,
        "energy": 77.419509,
        "activity_lines": [
          41.020667,
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          39.648571,
          39.162043
        ]
      }
    ],
    "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."
    }
  }
}