{
  "ticker": {
    "uuid": "c850ad8b-da83-4ddc-8b54-09070b644c4a",
    "symbol": "ESPJ",
    "name": "Invesco Markets II plc - Invesco MSCI Pacific Ex Japan Universal Screened UCITS ETF",
    "exchange": "EBS",
    "country": "CH",
    "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": "^SSMI",
    "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": 72.66,
    "architecture_regime": "upward_expansion",
    "architecture_regime_label": "Upward Expansion",
    "architecture_modifier": "Early expansion",
    "architecture_gate": "up",
    "architecture_direction": 93.11,
    "architecture_energy": 97.101,
    "architecture_maturity": 8.747,
    "architecture_confidence": 65.924,
    "architecture_tenure": "New",
    "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": 13.4,
        "rotation_up": 87.28,
        "upward_expansion": 97.67,
        "deceleration": 41.83,
        "rotation_down": 8.01,
        "downward_expansion": 22.0
      },
      "activity_lines": [
        60.284,
        59.184909,
        58.569476,
        58.309763
      ],
      "activity_state": "Wide",
      "activity_direction": "Expanding",
      "rotation_direction": "Improving",
      "price_acceptance": 0.833333
    },
    "latest_close": 61.450001,
    "trend_reference": 58.007667,
    "distance_from_trend": 0.059343,
    "trend_direction": "Improving",
    "fair_value": 48.609519,
    "distance_from_fair_value": 0.264156,
    "fair_value_direction": "Improving",
    "relative_strength": -1.392989,
    "relative_strength_direction": "Weakening",
    "price_momentum": 0.066655,
    "excess_performance": -0.016228,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.059343,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.028626,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.264156,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.017913,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.01393,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.05646,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.066655,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 4.707277,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 2654,
      "relative_activity": 1.682889,
      "balance": 4.707277,
      "dry_up": 2.02324,
      "accumulation_observations": 4,
      "distribution_observations": 0
    },
    "risk": {
      "range_context": 0.013119,
      "annualized_volatility": 0.151071,
      "from_high_reference": -0.002111,
      "from_low_reference": 0.187899
    },
    "levels": {
      "trend_reference": 58.007667,
      "fair_value_reference": 48.609519,
      "structural_low": 54.650002,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 21,
        "median_return": 0.001736,
        "positive_rate": 0.52381,
        "directional_follow_through": 0.52381,
        "median_excess_return": -0.00128,
        "regime_survival": 0.714286,
        "best_return": 0.05397,
        "worst_return": -0.058531,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 8,
        "median_return": 0.04083,
        "positive_rate": 0.875,
        "directional_follow_through": 0.875,
        "median_excess_return": -0.000895,
        "regime_survival": 0.5,
        "best_return": 0.087999,
        "worst_return": -0.009217,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 5,
        "median_return": 0.050088,
        "positive_rate": 0.8,
        "directional_follow_through": 0.8,
        "median_excess_return": 0.003984,
        "regime_survival": 0.2,
        "best_return": 0.072142,
        "worst_return": -0.0063,
        "sufficient": true
      },
      {
        "horizon": "Full cycle",
        "sample_count": 3,
        "median_return": 0.116024,
        "positive_rate": 0.666667,
        "directional_follow_through": 0.666667,
        "median_excess_return": -0.003265,
        "regime_survival": 0.333333,
        "best_return": 0.123017,
        "worst_return": -0.022751,
        "sufficient": false
      }
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        "label": "Deceleration",
        "color": "amber",
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        "end": "2024-07-12",
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        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
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        "tenure": "Established",
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      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
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        "end": "2024-12-13",
        "tenure": "Developing",
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        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2024-12-20",
        "end": "2025-01-31",
        "tenure": "Developing",
        "return": 0.051322,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
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        "end": "2025-03-28",
        "tenure": "Developing",
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        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
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        "end": "2025-05-09",
        "tenure": "Developing",
        "return": 0.14188,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
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      {
        "regime": "upward_expansion",
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          56.851398
        ]
      },
      {
        "date": "2026-05-08",
        "close": 58.82,
        "volume": 1780,
        "typical_volume": 3294.25,
        "trend": 55.958,
        "fair_value": 47.197852,
        "relative_strength": 4.252989,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 55.776375,
        "energy": 51.561148,
        "activity_lines": [
          58.635334,
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          57.804572,
          57.045957
        ]
      },
      {
        "date": "2026-05-15",
        "close": 57.919998,
        "volume": 1460,
        "typical_volume": 3361.7,
        "trend": 56.119333,
        "fair_value": 47.303045,
        "relative_strength": 1.560175,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 49.725998,
        "energy": 30.017452,
        "activity_lines": [
          58.328,
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          57.865429,
          57.172538
        ]
      },
      {
        "date": "2026-05-22",
        "close": 57.849998,
        "volume": 1544,
        "typical_volume": 3436.15,
        "trend": 56.247666,
        "fair_value": 47.41484,
        "relative_strength": -0.794153,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 37.326177,
        "energy": 22.508483,
        "activity_lines": [
          58.100666,
          58.109091,
          57.903762,
          57.284193
        ]
      },
      {
        "date": "2026-05-29",
        "close": 58.060001,
        "volume": 1499,
        "typical_volume": 3376.6,
        "trend": 56.393333,
        "fair_value": 47.525384,
        "relative_strength": -0.809313,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 35.065474,
        "energy": 20.410194,
        "activity_lines": [
          58.083333,
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          57.946048,
          57.401118
        ]
      },
      {
        "date": "2026-06-05",
        "close": 57.040001,
        "volume": 16,
        "typical_volume": 3367.45,
        "trend": 56.514333,
        "fair_value": 47.627372,
        "relative_strength": -1.483707,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 21.908378,
        "energy": 13.311145,
        "activity_lines": [
          57.71,
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          57.875,
          57.442839
        ]
      },
      {
        "date": "2026-06-12",
        "close": 57.349998,
        "volume": 9,
        "typical_volume": 3129.2,
        "trend": 56.645,
        "fair_value": 47.721859,
        "relative_strength": -3.24859,
        "stage": 3,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "up",
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        "energy": 13.89976,
        "activity_lines": [
          57.513999,
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      },
      {
        "date": "2026-06-19",
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        "volume": 71,
        "typical_volume": 2954.6,
        "trend": 56.833333,
        "fair_value": 47.830224,
        "relative_strength": -3.575308,
        "stage": 3,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "up",
        "direction": 9.764984,
        "energy": 11.181989,
        "activity_lines": [
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          57.546107
        ]
      },
      {
        "date": "2026-06-26",
        "close": 56.610001,
        "volume": 58,
        "typical_volume": 2723.8,
        "trend": 56.955333,
        "fair_value": 47.93,
        "relative_strength": -7.466304,
        "stage": 3,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "up",
        "direction": -7.016532,
        "energy": 17.223558,
        "activity_lines": [
          57.125333,
          57.468,
          57.65981,
          57.531699
        ]
      },
      {
        "date": "2026-07-03",
        "close": 57.419998,
        "volume": 32,
        "typical_volume": 2542.0,
        "trend": 57.080333,
        "fair_value": 48.039743,
        "relative_strength": -7.633594,
        "stage": 3,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "up",
        "direction": 3.922224,
        "energy": 14.529346,
        "activity_lines": [
          57.167333,
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          57.621857,
          57.561677
        ]
      },
      {
        "date": "2026-07-10",
        "close": 58.290001,
        "volume": 115,
        "typical_volume": 1505.45,
        "trend": 57.236667,
        "fair_value": 48.140416,
        "relative_strength": -4.871595,
        "stage": 3,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "up",
        "direction": 34.374851,
        "energy": 16.178614,
        "activity_lines": [
          57.542,
          57.530545,
          57.671428,
          57.63972
        ]
      },
      {
        "date": "2026-07-17",
        "close": 58.860001,
        "volume": 4565,
        "typical_volume": 1708.15,
        "trend": 57.414333,
        "fair_value": 48.2475,
        "relative_strength": -4.544599,
        "stage": 3,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "up",
        "direction": 50.72687,
        "energy": 29.193611,
        "activity_lines": [
          58.023334,
          57.745636,
          57.781714,
          57.744452
        ]
      },
      {
        "date": "2026-07-24",
        "close": 59.32,
        "volume": 2357,
        "typical_volume": 1449.4,
        "trend": 57.572,
        "fair_value": 48.353878,
        "relative_strength": -3.568065,
        "stage": 3,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "up",
        "direction": 74.421615,
        "energy": 67.83324,
        "activity_lines": [
          58.557334,
          58.043636,
          57.942762,
          57.867398
        ]
      },
      {
        "date": "2026-07-31",
        "close": 60.759998,
        "volume": 3187,
        "typical_volume": 1496.6,
        "trend": 57.781333,
        "fair_value": 48.476795,
        "relative_strength": -1.271971,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 89.093122,
        "energy": 88.859679,
        "activity_lines": [
          59.444,
          58.578,
          58.233286,
          58.073075
        ]
      },
      {
        "date": "2026-08-07",
        "close": 61.450001,
        "volume": 2654,
        "typical_volume": 1577.05,
        "trend": 58.007667,
        "fair_value": 48.609519,
        "relative_strength": -1.392989,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 93.11039,
        "energy": 97.10134,
        "activity_lines": [
          60.284,
          59.184909,
          58.569476,
          58.309763
        ]
      }
    ],
    "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."
    }
  }
}