{
  "ticker": {
    "uuid": "b4e17e89-707e-48cd-9b87-9e388b2121d1",
    "symbol": "UB02",
    "name": "UBS Core MSCI Japan UCITS ETF JPY dis",
    "exchange": "LSE",
    "country": "GB",
    "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": "^FTSE",
    "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": "deceleration",
    "architecture_regime_label": "Deceleration",
    "architecture_modifier": "Recompressing",
    "architecture_gate": "up",
    "architecture_direction": 55.828,
    "architecture_energy": 27.074,
    "architecture_maturity": 61.005,
    "architecture_confidence": 91.73,
    "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": 27.33,
        "rotation_up": 31.73,
        "upward_expansion": 58.14,
        "deceleration": 88.27,
        "rotation_down": 29.73,
        "downward_expansion": 21.81
      },
      "activity_lines": [
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      "activity_state": "Moderate",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": 0.166667
    },
    "latest_close": 5950.0,
    "trend_reference": 5537.273031,
    "distance_from_trend": 0.074536,
    "trend_direction": "Improving",
    "fair_value": 4577.324374,
    "distance_from_fair_value": 0.299886,
    "fair_value_direction": "Improving",
    "relative_strength": 4.230672,
    "relative_strength_direction": "Weakening",
    "price_momentum": 0.094447,
    "excess_performance": 0.043212,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.074536,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.047421,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.299886,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.039096,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.042307,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.023499,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.094447,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 3.0349,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 26182,
      "relative_activity": 0.46185,
      "balance": 3.0349,
      "dry_up": 0.368993,
      "accumulation_observations": 2,
      "distribution_observations": 0
    },
    "risk": {
      "range_context": 0.030654,
      "annualized_volatility": 0.213355,
      "from_high_reference": -0.014582,
      "from_low_reference": 0.286041
    },
    "levels": {
      "trend_reference": 5537.273031,
      "fair_value_reference": 4577.324374,
      "structural_low": 4976.649902,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 16,
        "median_return": 0.024492,
        "positive_rate": 0.625,
        "directional_follow_through": 0.625,
        "median_excess_return": -0.001227,
        "regime_survival": 0.5625,
        "best_return": 0.059299,
        "worst_return": -0.101913,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 8,
        "median_return": 0.016428,
        "positive_rate": 0.625,
        "directional_follow_through": 0.625,
        "median_excess_return": -0.00377,
        "regime_survival": 0.25,
        "best_return": 0.106141,
        "worst_return": -0.034766,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 6,
        "median_return": 0.082171,
        "positive_rate": 0.666667,
        "directional_follow_through": 0.666667,
        "median_excess_return": 0.042231,
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        "worst_return": -0.097663,
        "sufficient": true
      },
      {
        "horizon": "Full cycle",
        "sample_count": 3,
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        "positive_rate": 0.333333,
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        "worst_return": -0.119302,
        "sufficient": false
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    ],
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        "active": false
      },
      {
        "regime": "downward_expansion",
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        "end": "2024-09-27",
        "tenure": "Developing",
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        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
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        "tenure": "Developing",
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        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
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      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
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        "tenure": "New",
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        "active": false
      },
      {
        "regime": "rotation_down",
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        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
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        "end": "2025-05-30",
        "tenure": "Developing",
        "return": 0.064103,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
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        "end": "2025-07-25",
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        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
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        "tenure": "Established",
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      {
        "date": "2026-07-17",
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      },
      {
        "date": "2026-07-24",
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        "volume": 18713,
        "typical_volume": 60973.4,
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        "fair_value": 4552.091321,
        "relative_strength": 1.854855,
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      },
      {
        "date": "2026-07-31",
        "close": 5674.0,
        "volume": 14451,
        "typical_volume": 58133.35,
        "trend": 5513.541406,
        "fair_value": 4563.627377,
        "relative_strength": -0.172447,
        "stage": 2,
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        "modifier": "Recompressing",
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        "direction": 34.002758,
        "energy": 22.595165,
        "activity_lines": [
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      },
      {
        "date": "2026-08-07",
        "close": 5950.0,
        "volume": 26182,
        "typical_volume": 56689.4,
        "trend": 5537.273031,
        "fair_value": 4577.324374,
        "relative_strength": 4.230672,
        "stage": 2,
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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."
    }
  }
}