{
  "ticker": {
    "uuid": "9a4a6bff-b099-4a33-ac9f-2efd969090f1",
    "symbol": "VNRA",
    "name": "Vanguard FTSE North America UCITS ETF USD Accumulation",
    "exchange": "EBS",
    "country": "CH",
    "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": "^SSMI",
    "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": 89.736,
    "architecture_energy": 73.842,
    "architecture_maturity": 62.195,
    "architecture_confidence": 85.414,
    "architecture_tenure": "Established",
    "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": 6.1,
        "rotation_up": 66.65,
        "upward_expansion": 87.67,
        "deceleration": 63.94,
        "rotation_down": 26.16,
        "downward_expansion": 12.0
      },
      "activity_lines": [
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        146.320257
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      "activity_state": "Wide",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": 0.833333
    },
    "latest_close": 157.460007,
    "trend_reference": 142.072666,
    "distance_from_trend": 0.108306,
    "trend_direction": "Improving",
    "fair_value": 123.291859,
    "distance_from_fair_value": 0.277132,
    "fair_value_direction": "Improving",
    "relative_strength": 2.518459,
    "relative_strength_direction": "Weakening",
    "price_momentum": 0.177535,
    "excess_performance": 0.094652,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.108306,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.038497,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.277132,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.063817,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.025185,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.027659,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.177535,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 2.467457,
        "read": "Demand-led"
      }
    ],
    "volume": {
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      "relative_activity": 2.693152,
      "balance": 2.467457,
      "dry_up": 2.306314,
      "accumulation_observations": 3,
      "distribution_observations": 2
    },
    "risk": {
      "range_context": 0.017382,
      "annualized_volatility": 0.112832,
      "from_high_reference": -0.00606,
      "from_low_reference": 0.226706
    },
    "levels": {
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      "fair_value_reference": 123.291859,
      "structural_low": 128.580002,
      "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": 29,
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        "worst_return": -0.079754,
        "sufficient": true
      },
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        "gate": "up",
        "direction": 63.67246,
        "energy": 69.950776,
        "activity_lines": [
          139.035996,
          136.255634,
          135.162285,
          135.250064
        ]
      },
      {
        "date": "2026-05-08",
        "close": 143.899994,
        "volume": 3167,
        "typical_volume": 3310.6,
        "trend": 135.473333,
        "fair_value": 118.600705,
        "relative_strength": 5.284328,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 85.86377,
        "energy": 89.421527,
        "activity_lines": [
          141.157328,
          137.927633,
          135.992189,
          135.816515
        ]
      },
      {
        "date": "2026-05-15",
        "close": 146.199997,
        "volume": 1081,
        "typical_volume": 3353.35,
        "trend": 135.972666,
        "fair_value": 118.954103,
        "relative_strength": 5.803343,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 89.321382,
        "energy": 95.400377,
        "activity_lines": [
          143.263995,
          139.80436,
          136.999903,
          136.508558
        ]
      },
      {
        "date": "2026-05-22",
        "close": 147.539993,
        "volume": 3078,
        "typical_volume": 3492.95,
        "trend": 136.423999,
        "fair_value": 119.31,
        "relative_strength": 4.309628,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 87.566896,
        "energy": 94.942721,
        "activity_lines": [
          145.070661,
          141.705814,
          138.086664,
          137.254837
        ]
      },
      {
        "date": "2026-05-29",
        "close": 149.020004,
        "volume": 2921,
        "typical_volume": 3633.35,
        "trend": 136.805999,
        "fair_value": 119.662756,
        "relative_strength": 4.838714,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 86.644387,
        "energy": 94.89181,
        "activity_lines": [
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          139.263617,
          138.067483
        ]
      },
      {
        "date": "2026-06-05",
        "close": 149.940002,
        "volume": 1404,
        "typical_volume": 3690.4,
        "trend": 137.316666,
        "fair_value": 120.023462,
        "relative_strength": 6.459265,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 83.80395,
        "energy": 94.027132,
        "activity_lines": [
          148.313333,
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          140.481237,
          138.914838
        ]
      },
      {
        "date": "2026-06-12",
        "close": 148.279999,
        "volume": 959,
        "typical_volume": 3629.8,
        "trend": 137.837999,
        "fair_value": 120.36,
        "relative_strength": 2.676489,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 68.469838,
        "energy": 88.493418,
        "activity_lines": [
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      },
      {
        "date": "2026-06-19",
        "close": 152.160004,
        "volume": 810,
        "typical_volume": 3540.45,
        "trend": 138.481333,
        "fair_value": 120.728974,
        "relative_strength": 4.712764,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 86.445482,
        "energy": 94.053825,
        "activity_lines": [
          149.954668,
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          142.821332,
          140.54615
        ]
      },
      {
        "date": "2026-06-26",
        "close": 148.720001,
        "volume": 45,
        "typical_volume": 3300.7,
        "trend": 138.851999,
        "fair_value": 121.065577,
        "relative_strength": -0.570162,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 66.583279,
        "energy": 70.3886,
        "activity_lines": [
          149.732002,
          148.411636,
          143.735999,
          141.206709
        ]
      },
      {
        "date": "2026-07-03",
        "close": 151.399994,
        "volume": 1,
        "typical_volume": 2982.7,
        "trend": 139.280666,
        "fair_value": 121.425577,
        "relative_strength": -0.569305,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 76.022923,
        "energy": 69.538467,
        "activity_lines": [
          150.323999,
          149.263636,
          144.834475,
          142.016257
        ]
      },
      {
        "date": "2026-07-10",
        "close": 153.559998,
        "volume": 3609,
        "typical_volume": 2937.2,
        "trend": 139.814666,
        "fair_value": 121.804359,
        "relative_strength": 2.120516,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 84.356983,
        "energy": 73.160901,
        "activity_lines": [
          151.477332,
          150.317454,
          146.041522,
          142.937504
        ]
      },
      {
        "date": "2026-07-17",
        "close": 151.919998,
        "volume": 5341,
        "typical_volume": 3047.25,
        "trend": 140.370666,
        "fair_value": 122.165,
        "relative_strength": 0.247585,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 67.153929,
        "energy": 66.520989,
        "activity_lines": [
          151.842665,
          150.835272,
          146.996951,
          143.718493
        ]
      },
      {
        "date": "2026-07-24",
        "close": 153.059998,
        "volume": 9691,
        "typical_volume": 3047.3,
        "trend": 140.939333,
        "fair_value": 122.525962,
        "relative_strength": 1.100992,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 75.270622,
        "energy": 77.502095,
        "activity_lines": [
          152.345331,
          151.414544,
          147.966855,
          144.53716
        ]
      },
      {
        "date": "2026-07-31",
        "close": 152.580002,
        "volume": 6392,
        "typical_volume": 3129.55,
        "trend": 141.462666,
        "fair_value": 122.890897,
        "relative_strength": 0.71464,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 66.018936,
        "energy": 65.631954,
        "activity_lines": [
          152.627999,
          151.781817,
          148.801046,
          145.288171
        ]
      },
      {
        "date": "2026-08-07",
        "close": 157.460007,
        "volume": 8833,
        "typical_volume": 3279.8,
        "trend": 142.072666,
        "fair_value": 123.291859,
        "relative_strength": 2.518459,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 89.73557,
        "energy": 73.842042,
        "activity_lines": [
          154.280002,
          152.944728,
          150.003619,
          146.320257
        ]
      }
    ],
    "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."
    }
  }
}