{
  "ticker": {
    "uuid": "958df631-f064-4c86-b3f9-0d0b4e8abe23",
    "symbol": "091160",
    "name": "Kodex Semicon",
    "exchange": "KSC",
    "country": "KR",
    "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": "^KS11",
    "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": "deceleration",
    "architecture_regime_label": "Deceleration",
    "architecture_modifier": "Recompressing",
    "architecture_gate": "mixed",
    "architecture_direction": -36.125,
    "architecture_energy": 41.881,
    "architecture_maturity": 62.739,
    "architecture_confidence": 40.587,
    "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": 37.33,
        "rotation_up": 14.03,
        "upward_expansion": 22.19,
        "deceleration": 72.47,
        "rotation_down": 71.12,
        "downward_expansion": 40.52
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      "activity_lines": [
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      "activity_state": "Compressed",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": -0.666667
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    "latest_close": 107750.0,
    "trend_reference": 120691.575261,
    "distance_from_trend": -0.107228,
    "trend_direction": "Improving",
    "fair_value": 53429.144156,
    "distance_from_fair_value": 1.01669,
    "fair_value_direction": "Weakening",
    "relative_strength": 6.328233,
    "relative_strength_direction": "Weakening",
    "price_momentum": 0.277526,
    "excess_performance": 0.047697,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": false,
        "value": -0.107228,
        "read": "Below"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.320402,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 1.01669,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -1.270414,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.063282,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.277905,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.277526,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 2.258033,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 9202438,
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      "balance": 2.258033,
      "dry_up": 0.61331,
      "accumulation_observations": 3,
      "distribution_observations": 0
    },
    "risk": {
      "range_context": 0.191008,
      "annualized_volatility": 0.533954,
      "from_high_reference": -0.429169,
      "from_low_reference": 2.019704
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    "levels": {
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      "fair_value_reference": 53429.144156,
      "structural_low": 84232.808952,
      "invalidation": "A decisive breakout above range resistance with renewed RS leadership invalidates the distribution reading; a range-low break confirms deterioration."
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    "outcomes": [
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        "horizon": "Near term",
        "sample_count": 13,
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      },
      {
        "horizon": "Intermediate",
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        "sufficient": true
      },
      {
        "horizon": "Extended",
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      },
      {
        "horizon": "Full cycle",
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      },
      {
        "regime": "upward_expansion",
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        "regime": "downward_expansion",
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        "regime": "rotation_up",
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      {
        "date": "2026-08-07",
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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."
    }
  }
}