{
  "ticker": {
    "uuid": "987c3ca3-dc4a-44d5-8215-05808e4ae99f",
    "symbol": "EWN",
    "name": "ISHARES INC MSCI NETHERLANDS ETF",
    "exchange": "NYSEARCA",
    "country": "US",
    "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": "SPY",
    "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": "deceleration",
    "architecture_regime_label": "Deceleration",
    "architecture_modifier": "Recompressing",
    "architecture_gate": "up",
    "architecture_direction": 51.699,
    "architecture_energy": 31.1,
    "architecture_maturity": 48.051,
    "architecture_confidence": 89.965,
    "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": 38.03,
        "rotation_up": 33.43,
        "upward_expansion": 60.46,
        "deceleration": 90.25,
        "rotation_down": 25.89,
        "downward_expansion": 15.12
      },
      "activity_lines": [
        67.641333,
        67.717252,
        66.755724,
        65.186156
      ],
      "activity_state": "Compressed",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": 0.166667
    },
    "latest_close": 69.21,
    "trend_reference": 63.514518,
    "distance_from_trend": 0.089672,
    "trend_direction": "Improving",
    "fair_value": 49.275225,
    "distance_from_fair_value": 0.40456,
    "fair_value_direction": "Improving",
    "relative_strength": 3.418987,
    "relative_strength_direction": "Weakening",
    "price_momentum": 0.126524,
    "excess_performance": 0.000899,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.089672,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.064513,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.40456,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.019386,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.03419,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.007492,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.126524,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 1.808323,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 574642,
      "relative_activity": 0.60027,
      "balance": 1.808323,
      "dry_up": 1.54735,
      "accumulation_observations": 2,
      "distribution_observations": 1
    },
    "risk": {
      "range_context": 0.043138,
      "annualized_volatility": 0.237175,
      "from_high_reference": -0.027608,
      "from_low_reference": 0.405562
    },
    "levels": {
      "trend_reference": 63.514518,
      "fair_value_reference": 49.275225,
      "structural_low": 54.464093,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 11,
        "median_return": 0.039391,
        "positive_rate": 0.727273,
        "directional_follow_through": 0.727273,
        "median_excess_return": 0.006566,
        "regime_survival": 0.181818,
        "best_return": 0.076611,
        "worst_return": -0.09799,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 8,
        "median_return": 0.061627,
        "positive_rate": 0.75,
        "directional_follow_through": 0.75,
        "median_excess_return": -0.006608,
        "regime_survival": 0.125,
        "best_return": 0.189323,
        "worst_return": -0.101787,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 4,
        "median_return": 0.017073,
        "positive_rate": 0.75,
        "directional_follow_through": 0.75,
        "median_excess_return": -0.094256,
        "regime_survival": 0.0,
        "best_return": 0.226317,
        "worst_return": -0.041285,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
        "sample_count": 4,
        "median_return": 0.141562,
        "positive_rate": 0.75,
        "directional_follow_through": 0.75,
        "median_excess_return": -0.082885,
        "regime_survival": 0.25,
        "best_return": 0.381476,
        "worst_return": -0.269268,
        "sufficient": false
      }
    ],
    "ledger": [
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2024-09-13",
        "end": "2024-11-01",
        "tenure": "Developing",
        "return": -0.056196,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2024-11-08",
        "end": "2025-02-07",
        "tenure": "Established",
        "return": 0.013286,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-02-14",
        "end": "2025-02-21",
        "tenure": "New",
        "return": -0.015734,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
        "start": "2025-02-28",
        "end": "2025-03-28",
        "tenure": "Developing",
        "return": 0.003604,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2025-04-04",
        "end": "2025-04-11",
        "tenure": "New",
        "return": 0.061892,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-04-18",
        "end": "2025-05-09",
        "tenure": "New",
        "return": 0.091085,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-05-16",
        "end": "2025-08-01",
        "tenure": "Developing",
        "return": -0.012669,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2025-08-08",
        "end": "2025-08-29",
        "tenure": "New",
        "return": 0.009139,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-09-05",
        "end": "2025-11-21",
        "tenure": "Developing",
        "return": 0.04582,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2025-11-28",
        "end": "2025-12-19",
        "tenure": "New",
        "return": 0.010462,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-12-26",
        "end": "2026-03-06",
        "tenure": "Developing",
        "return": 0.01697,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2026-03-13",
        "end": "2026-04-24",
        "tenure": "Developing",
        "return": 0.078288,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
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        "end": "2026-07-17",
        "tenure": "Developing",
        "return": 0.073723,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2026-07-24",
        "end": "2026-08-07",
        "tenure": "New",
        "return": 0.041065,
        "active": true
      }
    ],
    "chart_path": [
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      },
      {
        "date": "2026-07-03",
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      },
      {
        "date": "2026-07-17",
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        "typical_volume": 886198.9,
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        "fair_value": 48.747214,
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      },
      {
        "date": "2026-07-24",
        "close": 66.48,
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        "typical_volume": 869473.6,
        "trend": 62.910236,
        "fair_value": 48.909104,
        "relative_strength": 4.432317,
        "stage": 2,
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      },
      {
        "date": "2026-07-31",
        "close": 66.82,
        "volume": 2614426,
        "typical_volume": 966229.55,
        "trend": 63.201597,
        "fair_value": 49.083036,
        "relative_strength": 3.583941,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 37.319989,
        "energy": 24.488454,
        "activity_lines": [
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      },
      {
        "date": "2026-08-07",
        "close": 69.21,
        "volume": 574642,
        "typical_volume": 957305.4,
        "trend": 63.514518,
        "fair_value": 49.275225,
        "relative_strength": 3.418987,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 51.699089,
        "energy": 31.100051,
        "activity_lines": [
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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."
    }
  }
}