{
  "ticker": {
    "uuid": "aa33c808-4de9-4176-996f-2a6b76ae956a",
    "symbol": "FNDE",
    "name": "SCHWAB FUNDAMENTAL EMERGING MARKETS EQUITY 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": 65.012,
    "architecture_regime": "upward_expansion",
    "architecture_regime_label": "Upward Expansion",
    "architecture_modifier": "Established expansion",
    "architecture_gate": "up",
    "architecture_direction": 64.741,
    "architecture_energy": 55.741,
    "architecture_maturity": 36.0,
    "architecture_confidence": 80.183,
    "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": 27.66,
        "rotation_up": 62.67,
        "upward_expansion": 84.16,
        "deceleration": 47.15,
        "rotation_down": 16.4,
        "downward_expansion": 13.16
      },
      "activity_lines": [
        41.049333,
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        40.468189,
        40.111751
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      "activity_state": "Moderate",
      "activity_direction": "Expanding",
      "rotation_direction": "Improving",
      "price_acceptance": 0.5
    },
    "latest_close": 41.67,
    "trend_reference": 39.685714,
    "distance_from_trend": 0.05,
    "trend_direction": "Improving",
    "fair_value": 30.719932,
    "distance_from_fair_value": 0.356448,
    "fair_value_direction": "Weakening",
    "relative_strength": -1.423164,
    "relative_strength_direction": "Weakening",
    "price_momentum": 0.057883,
    "excess_performance": -0.067742,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.05,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.038946,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.356448,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.054144,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.014232,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.051481,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.057883,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 1.575644,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 4586153,
      "relative_activity": 1.051395,
      "balance": 1.575644,
      "dry_up": 0.952302,
      "accumulation_observations": 2,
      "distribution_observations": 1
    },
    "risk": {
      "range_context": 0.030861,
      "annualized_volatility": 0.167133,
      "from_high_reference": -0.013172,
      "from_low_reference": 0.27428
    },
    "levels": {
      "trend_reference": 39.685714,
      "fair_value_reference": 30.719932,
      "structural_low": 36.615,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
    },
    "outcomes": [
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        "horizon": "Near term",
        "sample_count": 37,
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        "positive_rate": 0.594595,
        "directional_follow_through": 0.594595,
        "median_excess_return": -0.010517,
        "regime_survival": 0.783784,
        "best_return": 0.065267,
        "worst_return": -0.078164,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 14,
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        "directional_follow_through": 0.642857,
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        "regime_survival": 0.714286,
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        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 7,
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        "positive_rate": 0.714286,
        "directional_follow_through": 0.714286,
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        "sufficient": true
      },
      {
        "horizon": "Full cycle",
        "sample_count": 4,
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        "worst_return": -0.272401,
        "sufficient": false
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        "regime": "balance",
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      {
        "regime": "rotation_up",
        "label": "Rotation Up",
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        "regime": "deceleration",
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        "regime": "rotation_down",
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      },
      {
        "date": "2026-07-03",
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      },
      {
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      },
      {
        "date": "2026-07-17",
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        "typical_volume": 4765721.15,
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        "fair_value": 30.393817,
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        "stage": 2,
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        "modifier": "Re-accelerating",
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      },
      {
        "date": "2026-07-24",
        "close": 40.5,
        "volume": 3214591,
        "typical_volume": 4627680.05,
        "trend": 39.382714,
        "fair_value": 30.493652,
        "relative_strength": 0.433967,
        "stage": 2,
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        "modifier": "Established expansion",
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        "direction": 37.737314,
        "energy": 17.851425,
        "activity_lines": [
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      },
      {
        "date": "2026-07-31",
        "close": 41.28,
        "volume": 4047803,
        "typical_volume": 4499636.2,
        "trend": 39.531381,
        "fair_value": 30.604244,
        "relative_strength": 1.146105,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 58.439165,
        "energy": 38.451616,
        "activity_lines": [
          40.616,
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      },
      {
        "date": "2026-08-07",
        "close": 41.67,
        "volume": 4586153,
        "typical_volume": 4361970.2,
        "trend": 39.685714,
        "fair_value": 30.719932,
        "relative_strength": -1.423164,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 64.741168,
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        "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."
    }
  }
}