{
  "ticker": {
    "uuid": "b958b2d0-2ce0-43c9-a4db-dcaa68613b76",
    "symbol": "EWA",
    "name": "ISHARES INC MSCI AUSTRALIA 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": "2a",
    "phase_label": "Stage 2A \u00b7 Early advance",
    "transition": "stage_2_healthy",
    "transition_label": "Stage 2 trend intact",
    "confidence": 90.813,
    "architecture_regime": "balance",
    "architecture_regime_label": "Balance",
    "architecture_modifier": "Upper balance after advance",
    "architecture_gate": "up",
    "architecture_direction": 79.887,
    "architecture_energy": 71.961,
    "architecture_maturity": 19.71,
    "architecture_confidence": 68.317,
    "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": 22.98,
        "rotation_up": 76.89,
        "upward_expansion": 89.9,
        "deceleration": 42.13,
        "rotation_down": 12.02,
        "downward_expansion": 16.56
      },
      "activity_lines": [
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        28.770467,
        28.627621
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      "activity_state": "Moderate",
      "activity_direction": "Expanding",
      "rotation_direction": "Improving",
      "price_acceptance": 0.666667
    },
    "latest_close": 30.41,
    "trend_reference": 28.384196,
    "distance_from_trend": 0.071371,
    "trend_direction": "Improving",
    "fair_value": 24.281846,
    "distance_from_fair_value": 0.252376,
    "fair_value_direction": "Improving",
    "relative_strength": -0.757445,
    "relative_strength_direction": "Improving",
    "price_momentum": 0.092472,
    "excess_performance": -0.033153,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.071371,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.038172,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.252376,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.017848,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.007574,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.013844,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.092472,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 1.42104,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 9051194,
      "relative_activity": 0.736752,
      "balance": 1.42104,
      "dry_up": 0.707746,
      "accumulation_observations": 2,
      "distribution_observations": 2
    },
    "risk": {
      "range_context": 0.029682,
      "annualized_volatility": 0.193648,
      "from_high_reference": -0.00115,
      "from_low_reference": 0.257833
    },
    "levels": {
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      "fair_value_reference": 24.281846,
      "structural_low": 26.667499,
      "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": 13,
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        "positive_rate": 0.384615,
        "directional_follow_through": 0.384615,
        "median_excess_return": -0.008737,
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        "worst_return": -0.09876,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 7,
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        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 6,
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        "directional_follow_through": 0.666667,
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        "sufficient": true
      },
      {
        "horizon": "Full cycle",
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        "regime": "deceleration",
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        "regime": "balance",
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      },
      {
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        "typical_volume": 16425073.75,
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        "relative_strength": -2.631487,
        "stage": 3,
        "regime": "balance",
        "modifier": "Upper balance after advance",
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      },
      {
        "date": "2026-07-24",
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        "typical_volume": 14496024.65,
        "trend": 28.125662,
        "fair_value": 24.157558,
        "relative_strength": -2.070556,
        "stage": 3,
        "regime": "balance",
        "modifier": "Upper balance after advance",
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        "direction": 37.421419,
        "energy": 18.325233,
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          28.54,
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      },
      {
        "date": "2026-07-31",
        "close": 29.34,
        "volume": 9964410,
        "typical_volume": 13428871.8,
        "trend": 28.233645,
        "fair_value": 24.215636,
        "relative_strength": -0.965913,
        "stage": 2,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "up",
        "direction": 60.171313,
        "energy": 43.988564,
        "activity_lines": [
          28.854667,
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        ]
      },
      {
        "date": "2026-08-07",
        "close": 30.41,
        "volume": 9051194,
        "typical_volume": 12285268.3,
        "trend": 28.384196,
        "fair_value": 24.281846,
        "relative_strength": -0.757445,
        "stage": 2,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "up",
        "direction": 79.886792,
        "energy": 71.961311,
        "activity_lines": [
          29.434667,
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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."
    }
  }
}