{
  "ticker": {
    "uuid": "c23133ba-8a31-4411-8130-bc8e1877ea24",
    "symbol": "2643",
    "name": "NEXT FUNDS MSCI Japan Country Selection Exchange Traded Fund",
    "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": 92.347,
    "architecture_regime": "upward_expansion",
    "architecture_regime_label": "Upward Expansion",
    "architecture_modifier": "Established expansion",
    "architecture_gate": "up",
    "architecture_direction": 63.308,
    "architecture_energy": 45.521,
    "architecture_maturity": 61.781,
    "architecture_confidence": 66.949,
    "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": 12.57,
        "rotation_up": 54.75,
        "upward_expansion": 82.15,
        "deceleration": 64.77,
        "rotation_down": 23.82,
        "downward_expansion": 6.48
      },
      "activity_lines": [
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      "activity_state": "Moderate",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": 0.833333
    },
    "latest_close": 4307.0,
    "trend_reference": 3978.540039,
    "distance_from_trend": 0.082558,
    "trend_direction": "Improving",
    "fair_value": 3006.531101,
    "distance_from_fair_value": 0.432548,
    "fair_value_direction": "Improving",
    "relative_strength": -3.564277,
    "relative_strength_direction": "Improving",
    "price_momentum": 0.135262,
    "excess_performance": -0.073997,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.082558,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.060652,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.432548,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.027525,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.035643,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.064044,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.135262,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": false,
        "value": 0.613897,
        "read": "Supply-led"
      }
    ],
    "volume": {
      "latest": 255,
      "relative_activity": 0.050005,
      "balance": 0.613897,
      "dry_up": 0.067507,
      "accumulation_observations": 1,
      "distribution_observations": 2
    },
    "risk": {
      "range_context": 0.04006,
      "annualized_volatility": 0.209795,
      "from_high_reference": -0.020023,
      "from_low_reference": 0.398449
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    "levels": {
      "trend_reference": 3978.540039,
      "fair_value_reference": 3006.531101,
      "structural_low": 3523.063078,
      "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": 33,
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        "positive_rate": 0.636364,
        "directional_follow_through": 0.636364,
        "median_excess_return": 0.004357,
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        "worst_return": -0.071947,
        "sufficient": true
      },
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        "horizon": "Intermediate",
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        "worst_return": -0.03271,
        "sufficient": true
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      {
        "horizon": "Extended",
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        "regime_survival": 0.666667,
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        "sufficient": true
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        "horizon": "Full cycle",
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      },
      {
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      },
      {
        "date": "2026-07-17",
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        "volume": 473,
        "typical_volume": 5482.85,
        "trend": 3910.801213,
        "fair_value": 2965.99731,
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        "stage": 3,
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        "modifier": "Re-accelerating",
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        "energy": 47.939067,
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      },
      {
        "date": "2026-07-24",
        "close": 4223.0,
        "volume": 594,
        "typical_volume": 5214.65,
        "trend": 3931.553621,
        "fair_value": 2979.052723,
        "relative_strength": -4.350298,
        "stage": 2,
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        "modifier": "Re-accelerating",
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        "direction": 61.101948,
        "energy": 47.872438,
        "activity_lines": [
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      },
      {
        "date": "2026-07-31",
        "close": 4358.0,
        "volume": 55,
        "typical_volume": 5088.4,
        "trend": 3957.235832,
        "fair_value": 2992.979569,
        "relative_strength": -0.741064,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 72.491565,
        "energy": 51.818193,
        "activity_lines": [
          4270.333333,
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          4140.812878,
          4056.888446
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      },
      {
        "date": "2026-08-07",
        "close": 4307.0,
        "volume": 255,
        "typical_volume": 5099.5,
        "trend": 3978.540039,
        "fair_value": 3006.531101,
        "relative_strength": -3.564277,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 63.3084,
        "energy": 45.520862,
        "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."
    }
  }
}