{
  "ticker": {
    "uuid": "d5f8fe0f-330d-43c4-ba62-156be4e10f43",
    "symbol": "DXJ",
    "name": "WisdomTree Japan Equity UCITS ETF - USD Hedged",
    "exchange": "MIL",
    "country": "IT",
    "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": "FTSEMIB.MI",
    "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": 65.811,
    "architecture_energy": 44.489,
    "architecture_maturity": 84.647,
    "architecture_confidence": 59.815,
    "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": 18.26,
        "rotation_up": 46.55,
        "upward_expansion": 75.47,
        "deceleration": 68.66,
        "rotation_down": 28.22,
        "downward_expansion": 11.14
      },
      "activity_lines": [
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        45.866587
      ],
      "activity_state": "Moderate",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": 0.666667
    },
    "latest_close": 48.150002,
    "trend_reference": 44.666005,
    "distance_from_trend": 0.078001,
    "trend_direction": "Improving",
    "fair_value": 32.773338,
    "distance_from_fair_value": 0.469182,
    "fair_value_direction": "Improving",
    "relative_strength": 1.0837,
    "relative_strength_direction": "Weakening",
    "price_momentum": 0.121202,
    "excess_performance": -0.04969,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.078001,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.077716,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.469182,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.029679,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.010837,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.04262,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.121202,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 1.019996,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 1156,
      "relative_activity": 0.217004,
      "balance": 1.019996,
      "dry_up": 1.749686,
      "accumulation_observations": 2,
      "distribution_observations": 2
    },
    "risk": {
      "range_context": 0.030875,
      "annualized_volatility": 0.180653,
      "from_high_reference": -0.016745,
      "from_low_reference": 0.467041
    },
    "levels": {
      "trend_reference": 44.666005,
      "fair_value_reference": 32.773338,
      "structural_low": 40.775002,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 46,
        "median_return": 0.01781,
        "positive_rate": 0.717391,
        "directional_follow_through": 0.717391,
        "median_excess_return": 0.01022,
        "regime_survival": 0.826087,
        "best_return": 0.209388,
        "worst_return": -0.168704,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 15,
        "median_return": 0.074408,
        "positive_rate": 0.8,
        "directional_follow_through": 0.8,
        "median_excess_return": 0.079719,
        "regime_survival": 0.666667,
        "best_return": 0.229258,
        "worst_return": -0.095407,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 8,
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        "positive_rate": 0.75,
        "directional_follow_through": 0.75,
        "median_excess_return": 0.007914,
        "regime_survival": 0.625,
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        "worst_return": -0.053104,
        "sufficient": true
      },
      {
        "horizon": "Full cycle",
        "sample_count": 4,
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        "directional_follow_through": 0.75,
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        "worst_return": -0.046494,
        "sufficient": false
      }
    ],
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        "end": "2024-10-11",
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      {
        "regime": "balance",
        "label": "Balance",
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      {
        "regime": "rotation_up",
        "label": "Rotation Up",
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      {
        "regime": "deceleration",
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      {
        "regime": "rotation_down",
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      },
      {
        "regime": "downward_expansion",
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        "end": "2025-05-23",
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      {
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        "modifier": "Re-accelerating",
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      },
      {
        "date": "2026-05-01",
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        "modifier": "Re-accelerating",
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      },
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        "date": "2026-05-08",
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      },
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        "date": "2026-05-15",
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      },
      {
        "date": "2026-05-22",
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        "relative_strength": 7.684401,
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        "direction": 73.351846,
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      },
      {
        "date": "2026-05-29",
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        "typical_volume": 4990.85,
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      },
      {
        "date": "2026-06-05",
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        "volume": 70,
        "typical_volume": 4918.45,
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        "fair_value": 31.292417,
        "relative_strength": 7.315726,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 73.361531,
        "energy": 85.208345,
        "activity_lines": [
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      },
      {
        "date": "2026-06-12",
        "close": 45.796627,
        "volume": 1296,
        "typical_volume": 4829.75,
        "trend": 42.082137,
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        "relative_strength": 2.792948,
        "stage": 2,
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      },
      {
        "date": "2026-06-19",
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      },
      {
        "date": "2026-06-26",
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        "trend": 42.798075,
        "fair_value": 31.776022,
        "relative_strength": 6.439257,
        "stage": 2,
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        "gate": "up",
        "direction": 76.47058,
        "energy": 88.006531,
        "activity_lines": [
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        ]
      },
      {
        "date": "2026-07-03",
        "close": 48.185001,
        "volume": 208,
        "typical_volume": 4480.0,
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        "fair_value": 31.945283,
        "relative_strength": 4.383218,
        "stage": 2,
        "regime": "upward_expansion",
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        "direction": 80.960135,
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        "activity_lines": [
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      },
      {
        "date": "2026-07-10",
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        "typical_volume": 4537.9,
        "trend": 43.498488,
        "fair_value": 32.120025,
        "relative_strength": 4.452165,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 74.263316,
        "energy": 87.566393,
        "activity_lines": [
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          45.834009,
          44.934765
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      },
      {
        "date": "2026-07-17",
        "close": 46.860001,
        "volume": 18655,
        "typical_volume": 5343.35,
        "trend": 43.785101,
        "fair_value": 32.280945,
        "relative_strength": 2.669855,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 64.629935,
        "energy": 60.997346,
        "activity_lines": [
          47.660185,
          47.243911,
          46.025461,
          45.151637
        ]
      },
      {
        "date": "2026-07-24",
        "close": 48.584999,
        "volume": 13139,
        "typical_volume": 5506.95,
        "trend": 44.134338,
        "fair_value": 32.448974,
        "relative_strength": 6.254502,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 77.170034,
        "energy": 63.527715,
        "activity_lines": [
          47.92418,
          47.561544,
          46.372293,
          45.461308
        ]
      },
      {
        "date": "2026-07-31",
        "close": 46.68,
        "volume": 4333,
        "typical_volume": 5427.4,
        "trend": 44.413839,
        "fair_value": 32.60672,
        "relative_strength": 1.131177,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 59.788673,
        "energy": 46.016559,
        "activity_lines": [
          47.527,
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          46.509459,
          45.625544
        ]
      },
      {
        "date": "2026-08-07",
        "close": 48.150002,
        "volume": 1156,
        "typical_volume": 5327.1,
        "trend": 44.666005,
        "fair_value": 32.773338,
        "relative_strength": 1.0837,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 65.811454,
        "energy": 44.489492,
        "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."
    }
  }
}