{
  "ticker": {
    "uuid": "b116bd93-0230-402f-ad7a-ae5e604a828d",
    "symbol": "2524",
    "name": "NZAM ETF TOPIX",
    "exchange": "JPX",
    "country": "JP",
    "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": "^N225",
    "stage": 2,
    "stage_name": "Advancing",
    "phase": "2a",
    "phase_label": "Stage 2A \u00b7 Early advance",
    "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": 64.621,
    "architecture_energy": 41.789,
    "architecture_maturity": 75.783,
    "architecture_confidence": 70.432,
    "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": 14.09,
        "rotation_up": 50.22,
        "upward_expansion": 81.38,
        "deceleration": 65.56,
        "rotation_down": 26.35,
        "downward_expansion": 5.71
      },
      "activity_lines": [
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      "activity_state": "Moderate",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": 0.833333
    },
    "latest_close": 4205.0,
    "trend_reference": 3934.694629,
    "distance_from_trend": 0.068698,
    "trend_direction": "Improving",
    "fair_value": 2963.286026,
    "distance_from_fair_value": 0.419033,
    "fair_value_direction": "Improving",
    "relative_strength": -4.403162,
    "relative_strength_direction": "Improving",
    "price_momentum": 0.121195,
    "excess_performance": -0.088063,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.068698,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.061718,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.419033,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.01093,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.044032,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.054111,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.121195,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 3.711245,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 174551,
      "relative_activity": 1.328771,
      "balance": 3.711245,
      "dry_up": 1.294848,
      "accumulation_observations": 6,
      "distribution_observations": 1
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    "risk": {
      "range_context": 0.033056,
      "annualized_volatility": 0.166555,
      "from_high_reference": -0.014992,
      "from_low_reference": 0.38032
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    "levels": {
      "trend_reference": 3934.694629,
      "fair_value_reference": 2963.286026,
      "structural_low": 3523.0,
      "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": 42,
        "median_return": 0.018703,
        "positive_rate": 0.666667,
        "directional_follow_through": 0.666667,
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        "sufficient": true
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        "horizon": "Intermediate",
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        "horizon": "Extended",
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        "worst_return": -0.034504,
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        "horizon": "Full cycle",
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        "regime": "downward_expansion",
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      },
      {
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      },
      {
        "date": "2026-07-24",
        "close": 4138.0,
        "volume": 204185,
        "typical_volume": 123306.7,
        "trend": 3889.382552,
        "fair_value": 2937.716204,
        "relative_strength": -4.935004,
        "stage": 2,
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        "modifier": "Established expansion",
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      },
      {
        "date": "2026-07-31",
        "close": 4199.0,
        "volume": 198899,
        "typical_volume": 124321.45,
        "trend": 3913.062769,
        "fair_value": 2950.579499,
        "relative_strength": -2.942288,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 66.059817,
        "energy": 44.253574,
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      },
      {
        "date": "2026-08-07",
        "close": 4205.0,
        "volume": 174551,
        "typical_volume": 131362.75,
        "trend": 3934.694629,
        "fair_value": 2963.286026,
        "relative_strength": -4.403162,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
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        "energy": 41.788561,
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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."
    }
  }
}