{
  "ticker": {
    "uuid": "a9fa72eb-e361-4b54-9dc7-df4c2fa308e9",
    "symbol": "252400",
    "name": "KB KBSTAR 200 Futures Leverage Securities ETF Investment Trust - Equity-Derivatives",
    "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": "3b",
    "phase_label": "Stage 3B \u00b7 Distribution",
    "transition": "stage_3_churning",
    "transition_label": "Stage 3 range intact",
    "confidence": 74.264,
    "architecture_regime": "deceleration",
    "architecture_regime_label": "Deceleration",
    "architecture_modifier": "Recompressing",
    "architecture_gate": "mixed",
    "architecture_direction": -33.431,
    "architecture_energy": 41.333,
    "architecture_maturity": 61.213,
    "architecture_confidence": 51.638,
    "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": 37.27,
        "rotation_up": 14.04,
        "upward_expansion": 17.75,
        "deceleration": 68.1,
        "rotation_down": 70.68,
        "downward_expansion": 45.08
      },
      "activity_lines": [
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        137092.904762,
        127314.666667
      ],
      "activity_state": "Compressed",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": -0.666667
    },
    "latest_close": 84125.0,
    "trend_reference": 111948.333333,
    "distance_from_trend": -0.248537,
    "trend_direction": "Improving",
    "fair_value": 36970.226462,
    "distance_from_fair_value": 1.27548,
    "fair_value_direction": "Weakening",
    "relative_strength": 1.582643,
    "relative_strength_direction": "Weakening",
    "price_momentum": 0.287398,
    "excess_performance": 0.057569,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": false,
        "value": -0.248537,
        "read": "Below"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.447848,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 1.27548,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -3.209612,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.015826,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.857882,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.287398,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": false,
        "value": 0.803843,
        "read": "Supply-led"
      }
    ],
    "volume": {
      "latest": 135698,
      "relative_activity": 1.474108,
      "balance": 0.803843,
      "dry_up": 1.740318,
      "accumulation_observations": 3,
      "distribution_observations": 3
    },
    "risk": {
      "range_context": 0.432813,
      "annualized_volatility": 1.071722,
      "from_high_reference": -0.639026,
      "from_low_reference": 2.966375
    },
    "levels": {
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      "fair_value_reference": 36970.226462,
      "structural_low": 60655.0,
      "invalidation": "A decisive breakout above range resistance with renewed RS leadership invalidates the distribution reading; a range-low break confirms deterioration."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 7,
        "median_return": 0.007381,
        "positive_rate": 0.571429,
        "directional_follow_through": 0.571429,
        "median_excess_return": -0.000349,
        "regime_survival": 0.142857,
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        "worst_return": -0.130523,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 6,
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        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
        "median_excess_return": 0.01363,
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        "worst_return": -0.256136,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 3,
        "median_return": 0.050272,
        "positive_rate": 0.666667,
        "directional_follow_through": 0.666667,
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        "regime_survival": 0.0,
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        "worst_return": -0.153335,
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      },
      {
        "horizon": "Full cycle",
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        "worst_return": -0.180488,
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    ],
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      },
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      },
      {
        "regime": "deceleration",
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      },
      {
        "regime": "upward_expansion",
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      },
      {
        "regime": "deceleration",
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      },
      {
        "regime": "rotation_down",
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        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
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        "end": "2025-02-07",
        "tenure": "Established",
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      },
      {
        "regime": "balance",
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      {
        "regime": "rotation_up",
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        "active": false
      },
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        "regime": "balance",
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      },
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      },
      {
        "date": "2026-07-24",
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        "volume": 155028,
        "typical_volume": 87470.3,
        "trend": 109268.833333,
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        "relative_strength": 21.142171,
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      },
      {
        "date": "2026-07-31",
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        "volume": 268194,
        "typical_volume": 90407.55,
        "trend": 110909.666667,
        "fair_value": 36529.09775,
        "relative_strength": 10.438434,
        "stage": 3,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
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        "energy": 28.369063,
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      },
      {
        "date": "2026-08-07",
        "close": 84125.0,
        "volume": 135698,
        "typical_volume": 92054.3,
        "trend": 111948.333333,
        "fair_value": 36970.226462,
        "relative_strength": 1.582643,
        "stage": 3,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "mixed",
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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."
    }
  }
}