{
  "ticker": {
    "uuid": "e4886919-5f99-4761-aa2c-34f2075753af",
    "symbol": "VDNR",
    "name": "Vanguard FTSE North America UCITS ETF",
    "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": 90.438,
    "architecture_regime": "upward_expansion",
    "architecture_regime_label": "Upward Expansion",
    "architecture_modifier": "Established expansion",
    "architecture_gate": "up",
    "architecture_direction": 86.325,
    "architecture_energy": 64.252,
    "architecture_maturity": 59.34,
    "architecture_confidence": 70.22,
    "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": 23.88,
        "rotation_up": 55.06,
        "upward_expansion": 81.15,
        "deceleration": 68.05,
        "rotation_down": 27.35,
        "downward_expansion": 10.15
      },
      "activity_lines": [
        184.404167,
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        178.137395
      ],
      "activity_state": "Moderate",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": 0.5
    },
    "latest_close": 189.357498,
    "trend_reference": 174.145334,
    "distance_from_trend": 0.087353,
    "trend_direction": "Improving",
    "fair_value": 142.299751,
    "distance_from_fair_value": 0.330695,
    "fair_value_direction": "Improving",
    "relative_strength": 3.165112,
    "relative_strength_direction": "Weakening",
    "price_momentum": 0.130968,
    "excess_performance": 0.079733,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.087353,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.033976,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.330695,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.009206,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.031651,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.019088,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.130968,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": false,
        "value": 0.859811,
        "read": "Supply-led"
      }
    ],
    "volume": {
      "latest": 10753,
      "relative_activity": 0.593197,
      "balance": 0.859811,
      "dry_up": 1.791065,
      "accumulation_observations": 2,
      "distribution_observations": 2
    },
    "risk": {
      "range_context": 0.017777,
      "annualized_volatility": 0.126721,
      "from_high_reference": -0.002069,
      "from_low_reference": 0.231257
    },
    "levels": {
      "trend_reference": 174.145334,
      "fair_value_reference": 142.299751,
      "structural_low": 155.535004,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 41,
        "median_return": 0.015558,
        "positive_rate": 0.731707,
        "directional_follow_through": 0.731707,
        "median_excess_return": 0.00753,
        "regime_survival": 0.804878,
        "best_return": 0.065076,
        "worst_return": -0.089181,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 15,
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        "directional_follow_through": 0.8,
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        "regime_survival": 0.666667,
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        "worst_return": -0.073826,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 8,
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        "median_excess_return": 0.027622,
        "regime_survival": 0.625,
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        "worst_return": -0.16151,
        "sufficient": true
      },
      {
        "horizon": "Full cycle",
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        "worst_return": -0.107936,
        "sufficient": false
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        "regime": "deceleration",
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        "active": false
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        "regime": "balance",
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      },
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      },
      {
        "date": "2026-05-08",
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        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
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      },
      {
        "date": "2026-05-15",
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        "typical_volume": 17760.0,
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        "modifier": "Re-accelerating",
        "gate": "up",
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      },
      {
        "date": "2026-05-22",
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        "typical_volume": 17787.2,
        "trend": 167.812712,
        "fair_value": 136.772762,
        "relative_strength": 4.28884,
        "stage": 2,
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        "modifier": "Re-accelerating",
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      },
      {
        "date": "2026-05-29",
        "close": 184.442062,
        "volume": 43607,
        "typical_volume": 19659.15,
        "trend": 168.42303,
        "fair_value": 137.309374,
        "relative_strength": 5.7525,
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        "modifier": "Re-accelerating",
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        "direction": 82.818276,
        "energy": 92.958089,
        "activity_lines": [
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      },
      {
        "date": "2026-06-05",
        "close": 182.454178,
        "volume": 874,
        "typical_volume": 19494.45,
        "trend": 169.121723,
        "fair_value": 137.830517,
        "relative_strength": 4.890133,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
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        "direction": 67.958596,
        "energy": 86.520512,
        "activity_lines": [
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      },
      {
        "date": "2026-06-12",
        "close": 181.064896,
        "volume": 3071,
        "typical_volume": 18368.8,
        "trend": 169.68091,
        "fair_value": 138.323982,
        "relative_strength": 2.965525,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 66.203375,
        "energy": 77.063823,
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      },
      {
        "date": "2026-06-19",
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        "fair_value": 138.839425,
        "relative_strength": 4.740566,
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        "direction": 66.624418,
        "energy": 70.810153,
        "activity_lines": [
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      },
      {
        "date": "2026-06-26",
        "close": 179.507507,
        "volume": 352,
        "typical_volume": 16084.1,
        "trend": 170.881854,
        "fair_value": 139.320513,
        "relative_strength": 1.593987,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 61.844184,
        "energy": 57.321418,
        "activity_lines": [
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      },
      {
        "date": "2026-07-03",
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        "volume": 1032,
        "typical_volume": 15331.7,
        "trend": 171.402951,
        "fair_value": 139.827067,
        "relative_strength": 1.827017,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
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        "energy": 54.561902,
        "activity_lines": [
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      },
      {
        "date": "2026-07-10",
        "close": 184.240005,
        "volume": 13444,
        "typical_volume": 14673.05,
        "trend": 172.007446,
        "fair_value": 140.326428,
        "relative_strength": 4.308835,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 74.471765,
        "energy": 62.999186,
        "activity_lines": [
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      },
      {
        "date": "2026-07-17",
        "close": 182.365005,
        "volume": 7411,
        "typical_volume": 14339.75,
        "trend": 172.540119,
        "fair_value": 140.807894,
        "relative_strength": 2.216774,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 62.031105,
        "energy": 59.022785,
        "activity_lines": [
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      },
      {
        "date": "2026-07-24",
        "close": 181.695007,
        "volume": 34214,
        "typical_volume": 14791.45,
        "trend": 172.989454,
        "fair_value": 141.279842,
        "relative_strength": 0.555161,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 61.845252,
        "energy": 57.291672,
        "activity_lines": [
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      },
      {
        "date": "2026-07-31",
        "close": 181.304993,
        "volume": 77490,
        "typical_volume": 17833.2,
        "trend": 173.477319,
        "fair_value": 141.758927,
        "relative_strength": -0.880696,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 58.308137,
        "energy": 50.182998,
        "activity_lines": [
          182.114834,
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          177.112867
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      },
      {
        "date": "2026-08-07",
        "close": 189.357498,
        "volume": 10753,
        "typical_volume": 18127.2,
        "trend": 174.145334,
        "fair_value": 142.299751,
        "relative_strength": 3.165112,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 86.325006,
        "energy": 64.252391,
        "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."
    }
  }
}