{
  "ticker": {
    "uuid": "dd1e7a79-8c66-47af-b81e-2be86b360fde",
    "symbol": "V3MM",
    "name": "Vanguard ESG Emerging Markets All Cap UCITS ETF USD Inc",
    "exchange": "LSE",
    "country": "GB",
    "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": "^FTSE",
    "stage": 2,
    "stage_name": "Advancing",
    "phase": "2b",
    "phase_label": "Stage 2B \u00b7 Advancing",
    "transition": "stage_2_healthy",
    "transition_label": "Stage 2 trend intact",
    "confidence": 71.291,
    "architecture_regime": "deceleration",
    "architecture_regime_label": "Deceleration",
    "architecture_modifier": "Recompressing",
    "architecture_gate": "up",
    "architecture_direction": 38.626,
    "architecture_energy": 24.123,
    "architecture_maturity": 63.14,
    "architecture_confidence": 84.414,
    "architecture_tenure": "New",
    "architecture": {
      "interpretation": {
        "headline": "The upward structure remains, but its energy is decelerating.",
        "body": "Trend remains positive, but Activity or price acceptance is losing strength. This can become a healthy recompression, a re-acceleration, or a Rotation Down."
      },
      "scores": {
        "balance": 42.07,
        "rotation_up": 27.28,
        "upward_expansion": 56.4,
        "deceleration": 88.16,
        "rotation_down": 34.83,
        "downward_expansion": 20.07
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      "activity_lines": [
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        6.444126,
        6.354469
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      "activity_state": "Compressed",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": 0.166667
    },
    "latest_close": 6.545,
    "trend_reference": 6.246393,
    "distance_from_trend": 0.047805,
    "trend_direction": "Improving",
    "fair_value": 5.096093,
    "distance_from_fair_value": 0.284317,
    "fair_value_direction": "Weakening",
    "relative_strength": 0.798817,
    "relative_strength_direction": "Weakening",
    "price_momentum": 0.080598,
    "excess_performance": 0.029362,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.047805,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.0401,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.284317,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.034026,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.007988,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.073128,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.080598,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 1.054629,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 121142,
      "relative_activity": 2.776366,
      "balance": 1.054629,
      "dry_up": 1.262493,
      "accumulation_observations": 2,
      "distribution_observations": 3
    },
    "risk": {
      "range_context": 0.032054,
      "annualized_volatility": 0.173437,
      "from_high_reference": -0.033663,
      "from_low_reference": 0.239743
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    "levels": {
      "trend_reference": 6.246393,
      "fair_value_reference": 5.096093,
      "structural_low": 5.585,
      "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": 8,
        "median_return": 0.018758,
        "positive_rate": 0.75,
        "directional_follow_through": 0.75,
        "median_excess_return": 0.007263,
        "regime_survival": 0.375,
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        "worst_return": -0.021768,
        "sufficient": true
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      {
        "horizon": "Intermediate",
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        "positive_rate": 0.75,
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        "median_excess_return": 0.033907,
        "regime_survival": 0.25,
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        "worst_return": -0.015282,
        "sufficient": false
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      {
        "horizon": "Extended",
        "sample_count": 2,
        "median_return": 0.095918,
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        "directional_follow_through": 1.0,
        "median_excess_return": 0.06258,
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        "worst_return": 0.048226,
        "sufficient": false
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      {
        "horizon": "Full cycle",
        "sample_count": 1,
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        "sufficient": false
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        "end": "2024-07-26",
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        "regime": "deceleration",
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        "active": false
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        "regime": "upward_expansion",
        "label": "Upward Expansion",
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        "regime": "deceleration",
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        "regime": "upward_expansion",
        "label": "Upward Expansion",
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        "end": "2025-03-28",
        "tenure": "Established",
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        "active": false
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        "regime": "rotation_down",
        "label": "Rotation Down",
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        "end": "2025-04-11",
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        "active": false
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        "regime": "downward_expansion",
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        "tenure": "Developing",
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        "active": false
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        "regime": "rotation_up",
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        "close": 6.500655,
        "volume": 31905,
        "typical_volume": 47926.65,
        "trend": 6.048662,
        "fair_value": 4.978994,
        "relative_strength": 5.125275,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 66.470137,
        "energy": 50.710168,
        "activity_lines": [
          6.464413,
          6.425724,
          6.265958,
          6.177908
        ]
      },
      {
        "date": "2026-06-19",
        "close": 6.711,
        "volume": 12221,
        "typical_volume": 46766.4,
        "trend": 6.084424,
        "fair_value": 4.99563,
        "relative_strength": 9.358144,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 80.350851,
        "energy": 70.421844,
        "activity_lines": [
          6.550695,
          6.486631,
          6.317235,
          6.22064
        ]
      },
      {
        "date": "2026-06-26",
        "close": 6.516,
        "volume": 39111,
        "typical_volume": 47392.9,
        "trend": 6.110209,
        "fair_value": 5.010618,
        "relative_strength": 4.559959,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 61.353515,
        "energy": 55.805264,
        "activity_lines": [
          6.552189,
          6.501129,
          6.346338,
          6.248483
        ]
      },
      {
        "date": "2026-07-03",
        "close": 6.615,
        "volume": 5322,
        "typical_volume": 43003.55,
        "trend": 6.138913,
        "fair_value": 5.026663,
        "relative_strength": 4.305575,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 66.46002,
        "energy": 61.3771,
        "activity_lines": [
          6.579432,
          6.530573,
          6.382684,
          6.28105
        ]
      },
      {
        "date": "2026-07-10",
        "close": 6.552,
        "volume": 40953,
        "typical_volume": 38794.35,
        "trend": 6.167836,
        "fair_value": 5.041893,
        "relative_strength": 4.932536,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 60.144662,
        "energy": 52.934926,
        "activity_lines": [
          6.579377,
          6.542842,
          6.410739,
          6.307701
        ]
      },
      {
        "date": "2026-07-17",
        "close": 6.2715,
        "volume": 59582,
        "typical_volume": 40828.6,
        "trend": 6.186809,
        "fair_value": 5.055154,
        "relative_strength": -0.549402,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 36.237204,
        "energy": 25.818221,
        "activity_lines": [
          6.4769,
          6.49904,
          6.41062,
          6.314389
        ]
      },
      {
        "date": "2026-07-24",
        "close": 6.361,
        "volume": 18873,
        "typical_volume": 39165.0,
        "trend": 6.208782,
        "fair_value": 5.067925,
        "relative_strength": -0.446895,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 34.494848,
        "energy": 19.026751,
        "activity_lines": [
          6.419533,
          6.475108,
          6.418886,
          6.325627
        ]
      },
      {
        "date": "2026-07-31",
        "close": 6.337,
        "volume": 20750,
        "typical_volume": 38903.4,
        "trend": 6.226165,
        "fair_value": 5.080991,
        "relative_strength": -2.044734,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 26.671516,
        "energy": 21.073746,
        "activity_lines": [
          6.3775,
          6.447779,
          6.422722,
          6.333899
        ]
      },
      {
        "date": "2026-08-07",
        "close": 6.545,
        "volume": 121142,
        "typical_volume": 43633.3,
        "trend": 6.246393,
        "fair_value": 5.096093,
        "relative_strength": 0.798817,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 38.625512,
        "energy": 24.123274,
        "activity_lines": [
          6.416733,
          6.459545,
          6.444126,
          6.354469
        ]
      }
    ],
    "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."
    }
  }
}