{
  "ticker": {
    "uuid": "cfadac92-41d8-4b9f-97eb-80678971bbef",
    "symbol": "IWVE",
    "name": "iShares MSCI World Value Factor",
    "exchange": "AMS",
    "country": "NL",
    "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": "^AEX",
    "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": "upward_expansion",
    "architecture_regime_label": "Upward Expansion",
    "architecture_modifier": "Established expansion",
    "architecture_gate": "up",
    "architecture_direction": 95.283,
    "architecture_energy": 76.784,
    "architecture_maturity": 55.519,
    "architecture_confidence": 87.113,
    "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": 2.08,
        "rotation_up": 70.95,
        "upward_expansion": 90.0,
        "deceleration": 54.84,
        "rotation_down": 26.67,
        "downward_expansion": 12.0
      },
      "activity_lines": [
        9.7062,
        9.606618,
        9.420901,
        9.170512
      ],
      "activity_state": "Wide",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": 1.0
    },
    "latest_close": 9.968,
    "trend_reference": 8.877433,
    "distance_from_trend": 0.122847,
    "trend_direction": "Improving",
    "fair_value": 6.658517,
    "distance_from_fair_value": 0.49703,
    "fair_value_direction": "Improving",
    "relative_strength": 7.451262,
    "relative_strength_direction": "Weakening",
    "price_momentum": 0.17031,
    "excess_performance": 0.053648,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.122847,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.069673,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.49703,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.05372,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.074513,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.046213,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.17031,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 3.407825,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 179050,
      "relative_activity": 4.21762,
      "balance": 3.407825,
      "dry_up": 2.481371,
      "accumulation_observations": 4,
      "distribution_observations": 1
    },
    "risk": {
      "range_context": 0.016399,
      "annualized_volatility": 0.136241,
      "from_high_reference": 0.0,
      "from_low_reference": 0.430745
    },
    "levels": {
      "trend_reference": 8.877433,
      "fair_value_reference": 6.658517,
      "structural_low": 7.8054,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 31,
        "median_return": 0.007922,
        "positive_rate": 0.612903,
        "directional_follow_through": 0.612903,
        "median_excess_return": 0.012916,
        "regime_survival": 0.806452,
        "best_return": 0.089642,
        "worst_return": -0.079093,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 11,
        "median_return": 0.040964,
        "positive_rate": 1.0,
        "directional_follow_through": 1.0,
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        "regime_survival": 0.909091,
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        "worst_return": 0.001476,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 6,
        "median_return": 0.076841,
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        "median_excess_return": 0.050526,
        "regime_survival": 1.0,
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        "worst_return": 0.0568,
        "sufficient": true
      },
      {
        "horizon": "Full cycle",
        "sample_count": 3,
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        "worst_return": 0.128202,
        "sufficient": false
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        "regime": "deceleration",
        "label": "Deceleration",
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        "date": "2026-05-01",
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        "relative_strength": 8.871541,
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        "date": "2026-05-08",
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      },
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      },
      {
        "date": "2026-07-03",
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        "relative_strength": 6.313117,
        "stage": 2,
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      },
      {
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        "fair_value": 6.543563,
        "relative_strength": 6.519182,
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        "gate": "up",
        "direction": 74.388708,
        "energy": 72.992967,
        "activity_lines": [
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      },
      {
        "date": "2026-07-17",
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        "volume": 148800,
        "typical_volume": 39021.1,
        "trend": 8.71455,
        "fair_value": 6.571063,
        "relative_strength": 4.966707,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 66.544525,
        "energy": 65.464734,
        "activity_lines": [
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          9.207326,
          8.985542
        ]
      },
      {
        "date": "2026-07-24",
        "close": 9.558,
        "volume": 12040,
        "typical_volume": 37193.9,
        "trend": 8.766113,
        "fair_value": 6.598588,
        "relative_strength": 5.628249,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 72.407205,
        "energy": 67.234392,
        "activity_lines": [
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          9.269814,
          9.039958
        ]
      },
      {
        "date": "2026-07-31",
        "close": 9.641,
        "volume": 81475,
        "typical_volume": 38661.2,
        "trend": 8.819293,
        "fair_value": 6.627307,
        "relative_strength": 5.369298,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 78.059609,
        "energy": 69.052696,
        "activity_lines": [
          9.5636,
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          9.33355,
          9.096402
        ]
      },
      {
        "date": "2026-08-07",
        "close": 9.968,
        "volume": 179050,
        "typical_volume": 42452.85,
        "trend": 8.877433,
        "fair_value": 6.658517,
        "relative_strength": 7.451262,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 95.282608,
        "energy": 76.783798,
        "activity_lines": [
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          9.170512
        ]
      }
    ],
    "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."
    }
  }
}