{
  "ticker": {
    "uuid": "c723a6ea-850b-4a93-9f68-29759ea3cffb",
    "symbol": "VIF",
    "name": "Vanguard International Fixed Interest Index (Hedged) ETF",
    "exchange": "ASX",
    "country": "AU",
    "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": "^AXJO",
    "stage": 4,
    "stage_name": "Declining",
    "phase": "4c",
    "phase_label": "Stage 4C \u00b7 Repair watch",
    "transition": "stage_4_to_1_watch",
    "transition_label": "Stage 4 \u2192 1 repair watch",
    "confidence": 67.305,
    "architecture_regime": "downward_expansion",
    "architecture_regime_label": "Downward Expansion",
    "architecture_modifier": "Established contraction",
    "architecture_gate": "down",
    "architecture_direction": -62.016,
    "architecture_energy": 69.31,
    "architecture_maturity": 54.305,
    "architecture_confidence": 87.467,
    "architecture_tenure": "Established",
    "architecture": {
      "interpretation": {
        "headline": "The weekly architecture is expanding downward.",
        "body": "Trend and Activity show sustained negative alignment with weak price acceptance. Repair requires persistent improvement across the structure, not merely one strong observation."
      },
      "scores": {
        "balance": 20.07,
        "rotation_up": 28.25,
        "upward_expansion": 16.11,
        "deceleration": 41.24,
        "rotation_down": 49.81,
        "downward_expansion": 87.11
      },
      "activity_lines": [
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        36.245506
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      "activity_state": "Wide",
      "activity_direction": "Expanding",
      "rotation_direction": "Improving",
      "price_acceptance": -0.5
    },
    "latest_close": 35.849998,
    "trend_reference": 36.66463,
    "distance_from_trend": -0.022218,
    "trend_direction": "Weakening",
    "fair_value": 36.380536,
    "distance_from_fair_value": -0.014583,
    "fair_value_direction": "Weakening",
    "relative_strength": -7.91347,
    "relative_strength_direction": "Weakening",
    "price_momentum": -0.045693,
    "excess_performance": -0.109398,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": false,
        "value": -0.022218,
        "read": "Below"
      },
      {
        "label": "Trend direction",
        "positive": false,
        "value": -0.014514,
        "read": "Falling"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": false,
        "value": -0.014583,
        "read": "Below anchor"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.000892,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.079135,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.039854,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": false,
        "value": -0.045693,
        "read": "Negative"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 1.919783,
        "read": "Demand-led"
      }
    ],
    "volume": {
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      "relative_activity": 1.037409,
      "balance": 1.919783,
      "dry_up": 1.312258,
      "accumulation_observations": 4,
      "distribution_observations": 3
    },
    "risk": {
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      "annualized_volatility": 0.071168,
      "from_high_reference": -0.061626,
      "from_low_reference": 0.014157
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    "levels": {
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      "fair_value_reference": 36.380536,
      "structural_low": 35.34954,
      "invalidation": "Reclaiming a flat-to-rising Trend with improving relative strength is required before the declining diagnosis is repaired."
    },
    "outcomes": [
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        "positive_rate": 0.333333,
        "directional_follow_through": 0.666667,
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        "worst_return": -0.04227,
        "sufficient": true
      },
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        "horizon": "Intermediate",
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        "horizon": "Extended",
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        "horizon": "Full cycle",
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      },
      {
        "date": "2026-04-24",
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      },
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        "date": "2026-05-22",
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      },
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        "date": "2026-06-05",
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      },
      {
        "date": "2026-07-03",
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      },
      {
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      },
      {
        "date": "2026-07-17",
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        "volume": 277429,
        "typical_volume": 162048.8,
        "trend": 36.839117,
        "fair_value": 36.365887,
        "relative_strength": -3.450373,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -52.473731,
        "energy": 43.545253,
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          35.905735,
          35.901104,
          36.113809,
          36.447097
        ]
      },
      {
        "date": "2026-07-24",
        "close": 35.599998,
        "volume": 189658,
        "typical_volume": 162892.55,
        "trend": 36.775299,
        "fair_value": 36.368673,
        "relative_strength": -3.714635,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -72.7826,
        "energy": 56.244391,
        "activity_lines": [
          35.790809,
          35.854618,
          36.032627,
          36.367154
        ]
      },
      {
        "date": "2026-07-31",
        "close": 35.759998,
        "volume": 252845,
        "typical_volume": 167953.9,
        "trend": 36.720237,
        "fair_value": 36.374789,
        "relative_strength": -5.362322,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -63.274851,
        "energy": 76.232447,
        "activity_lines": [
          35.751999,
          35.836501,
          35.976876,
          36.301651
        ]
      },
      {
        "date": "2026-08-07",
        "close": 35.849998,
        "volume": 177334,
        "typical_volume": 170939.35,
        "trend": 36.66463,
        "fair_value": 36.380536,
        "relative_strength": -7.91347,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -62.015554,
        "energy": 69.309665,
        "activity_lines": [
          35.769999,
          35.832338,
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          36.245506
        ]
      }
    ],
    "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."
    }
  }
}