{
  "ticker": {
    "uuid": "b12ba832-d12c-4513-aa04-38c9652fda54",
    "symbol": "EWA",
    "name": "iShares MSCI Australia ETF",
    "exchange": "MEX",
    "country": "MX",
    "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": "^MXX",
    "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": 89.25,
    "architecture_regime": "balance",
    "architecture_regime_label": "Balance",
    "architecture_modifier": "Upper balance after advance",
    "architecture_gate": "up",
    "architecture_direction": 76.101,
    "architecture_energy": 73.036,
    "architecture_maturity": 25.525,
    "architecture_confidence": 60.955,
    "architecture_tenure": "Developing",
    "architecture": {
      "interpretation": {
        "headline": "The prior uptrend is attempting to re-accelerate.",
        "body": "Positive Trend survived a recompression and Fast Activity is strengthening again. Promotion requires renewed confirmation across the completed evidence set."
      },
      "scores": {
        "balance": 23.2,
        "rotation_up": 81.07,
        "upward_expansion": 83.95,
        "deceleration": 36.72,
        "rotation_down": 8.9,
        "downward_expansion": 22.62
      },
      "activity_lines": [
        508.770007,
        502.670682,
        500.438274,
        500.621663
      ],
      "activity_state": "Moderate",
      "activity_direction": "Expanding",
      "rotation_direction": "Improving",
      "price_acceptance": 0.666667
    },
    "latest_close": 520.710022,
    "trend_reference": 498.733319,
    "distance_from_trend": 0.044065,
    "trend_direction": "Improving",
    "fair_value": 460.095806,
    "distance_from_fair_value": 0.131743,
    "fair_value_direction": "Improving",
    "relative_strength": 3.518678,
    "relative_strength_direction": "Improving",
    "price_momentum": 0.070979,
    "excess_performance": 0.125646,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.044065,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.018295,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.131743,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.015335,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.035187,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.109971,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.070979,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 443.885625,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 59,
      "relative_activity": 0.0015,
      "balance": 443.885625,
      "dry_up": 2.189462,
      "accumulation_observations": 2,
      "distribution_observations": 0
    },
    "risk": {
      "range_context": 0.016136,
      "annualized_volatility": 0.136629,
      "from_high_reference": -0.002318,
      "from_low_reference": 0.133461
    },
    "levels": {
      "trend_reference": 498.733319,
      "fair_value_reference": 460.095806,
      "structural_low": 484.215515,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 15,
        "median_return": 0.004858,
        "positive_rate": 0.6,
        "directional_follow_through": 0.6,
        "median_excess_return": -0.00223,
        "regime_survival": 0.4,
        "best_return": 0.080414,
        "worst_return": -0.102422,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 8,
        "median_return": 0.029271,
        "positive_rate": 0.625,
        "directional_follow_through": 0.625,
        "median_excess_return": -0.031792,
        "regime_survival": 0.25,
        "best_return": 0.139978,
        "worst_return": -0.075917,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 6,
        "median_return": 0.029031,
        "positive_rate": 0.666667,
        "directional_follow_through": 0.666667,
        "median_excess_return": -0.101396,
        "regime_survival": 0.666667,
        "best_return": 0.284321,
        "worst_return": -0.038068,
        "sufficient": true
      },
      {
        "horizon": "Full cycle",
        "sample_count": 3,
        "median_return": -0.039329,
        "positive_rate": 0.333333,
        "directional_follow_through": 0.333333,
        "median_excess_return": -0.087975,
        "regime_survival": 0.333333,
        "best_return": 0.338615,
        "worst_return": -0.176421,
        "sufficient": false
      }
    ],
    "ledger": [
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
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        "end": "2025-03-14",
        "tenure": "New",
        "return": -0.016066,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2025-03-21",
        "end": "2025-05-16",
        "tenure": "Developing",
        "return": 0.048722,
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      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
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      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
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        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
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        "end": "2025-08-22",
        "tenure": "Developing",
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        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
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        "end": "2025-09-26",
        "tenure": "Developing",
        "return": -0.030502,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
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        "end": "2025-11-21",
        "tenure": "Developing",
        "return": -0.072257,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
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        "end": "2026-01-30",
        "tenure": "Developing",
        "return": 0.042892,
        "active": false
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      {
        "regime": "balance",
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        "color": "blue",
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        "end": "2026-02-06",
        "tenure": "New",
        "return": 0.0,
        "active": false
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        "regime": "rotation_up",
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        "return": 0.016,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
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        "end": "2026-04-03",
        "tenure": "New",
        "return": 0.027551,
        "active": false
      },
      {
        "regime": "deceleration",
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        "end": "2026-04-17",
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        "return": -0.00407,
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      {
        "regime": "upward_expansion",
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        "active": true
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      },
      {
        "date": "2026-05-01",
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        "typical_volume": 22980.9,
        "trend": 488.737818,
        "fair_value": 449.78941,
        "relative_strength": -4.247558,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
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        "direction": 57.837401,
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        "activity_lines": [
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      },
      {
        "date": "2026-05-08",
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        "typical_volume": 22770.95,
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        "relative_strength": -7.478387,
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        "modifier": "Re-accelerating",
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      },
      {
        "date": "2026-05-15",
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        "typical_volume": 22846.75,
        "trend": 489.293256,
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        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
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        "energy": 16.987026,
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      },
      {
        "date": "2026-05-22",
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        "volume": 3650,
        "typical_volume": 23021.95,
        "trend": 489.334486,
        "fair_value": 451.812564,
        "relative_strength": -6.754154,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
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      },
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        "date": "2026-05-29",
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        "typical_volume": 23082.8,
        "trend": 489.773111,
        "fair_value": 452.526279,
        "relative_strength": -5.357361,
        "stage": 3,
        "regime": "balance",
        "modifier": "Upper balance after advance",
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        "energy": 15.925473,
        "activity_lines": [
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      },
      {
        "date": "2026-06-05",
        "close": 484.215515,
        "volume": 64,
        "typical_volume": 23080.15,
        "trend": 489.685683,
        "fair_value": 453.199683,
        "relative_strength": -4.845879,
        "stage": 3,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "up",
        "direction": -12.711508,
        "energy": 22.946458,
        "activity_lines": [
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      },
      {
        "date": "2026-06-12",
        "close": 497.035889,
        "volume": 7,
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        "trend": 490.582924,
        "fair_value": 453.873624,
        "relative_strength": -4.643128,
        "stage": 3,
        "regime": "balance",
        "modifier": "Upper balance after advance",
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      },
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        "date": "2026-06-19",
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      },
      {
        "date": "2026-06-26",
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        "volume": 20,
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        "relative_strength": -4.184016,
        "stage": 3,
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        "modifier": "Upper balance after advance",
        "gate": "up",
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        "activity_lines": [
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      },
      {
        "date": "2026-07-03",
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        "volume": 0,
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        "fair_value": 456.104412,
        "relative_strength": -3.975065,
        "stage": 3,
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      },
      {
        "date": "2026-07-10",
        "close": 498.0,
        "volume": 364279,
        "typical_volume": 41192.35,
        "trend": 494.042985,
        "fair_value": 456.839864,
        "relative_strength": -1.21328,
        "stage": 3,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "up",
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        "energy": 12.731807,
        "activity_lines": [
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      },
      {
        "date": "2026-07-17",
        "close": 499.0,
        "volume": 67,
        "typical_volume": 40933.65,
        "trend": 495.009652,
        "fair_value": 457.6049,
        "relative_strength": -0.943325,
        "stage": 3,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "mixed",
        "direction": -3.502039,
        "energy": 7.377363,
        "activity_lines": [
          495.766667,
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          497.524123,
          498.007831
        ]
      },
      {
        "date": "2026-07-24",
        "close": 500.0,
        "volume": 129,
        "typical_volume": 33306.3,
        "trend": 496.009652,
        "fair_value": 458.348085,
        "relative_strength": -0.142846,
        "stage": 3,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "mixed",
        "direction": 4.825968,
        "energy": 7.125102,
        "activity_lines": [
          497.333333,
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          497.545982,
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        ]
      },
      {
        "date": "2026-07-31",
        "close": 508.0,
        "volume": 344330,
        "typical_volume": 50513.75,
        "trend": 497.176318,
        "fair_value": 459.171003,
        "relative_strength": 0.838324,
        "stage": 2,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "up",
        "direction": 46.548542,
        "energy": 32.85226,
        "activity_lines": [
          501.5,
          498.300351,
          498.386889,
          499.10336
        ]
      },
      {
        "date": "2026-08-07",
        "close": 520.710022,
        "volume": 59,
        "typical_volume": 39345.85,
        "trend": 498.733319,
        "fair_value": 460.095806,
        "relative_strength": 3.518678,
        "stage": 2,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "up",
        "direction": 76.101181,
        "energy": 73.035554,
        "activity_lines": [
          508.770007,
          502.670682,
          500.438274,
          500.621663
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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."
    }
  }
}