{
  "ticker": {
    "uuid": "e761596b-5b16-4538-9fcf-17dc475683fe",
    "symbol": "244670",
    "name": "KODEX Value PLUS",
    "exchange": "KSC",
    "country": "KR",
    "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": "^KS11",
    "stage": 4,
    "stage_name": "Declining",
    "phase": "4a",
    "phase_label": "Stage 4A \u00b7 Breakdown",
    "transition": "stage_4_declining",
    "transition_label": "Stage 4 decline intact",
    "confidence": 49.21,
    "architecture_regime": "downward_expansion",
    "architecture_regime_label": "Downward Expansion",
    "architecture_modifier": "Early contraction",
    "architecture_gate": "down",
    "architecture_direction": -54.283,
    "architecture_energy": 35.413,
    "architecture_maturity": 11.171,
    "architecture_confidence": 91.648,
    "architecture_tenure": "New",
    "architecture": {
      "interpretation": {
        "headline": "The weekly architecture is expanding downward.",
        "body": "Trend and Activity show sustained negative alignment with weak price acceptance. Repair requires persistent improvement across the structure, not merely one strong observation."
      },
      "scores": {
        "balance": 35.48,
        "rotation_up": 19.27,
        "upward_expansion": 4.2,
        "deceleration": 54.72,
        "rotation_down": 49.29,
        "downward_expansion": 75.2
      },
      "activity_lines": [
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      "activity_state": "Compressed",
      "activity_direction": "Contracting",
      "rotation_direction": "Stable",
      "price_acceptance": -0.5
    },
    "latest_close": 11570.0,
    "trend_reference": 11942.078255,
    "distance_from_trend": -0.031157,
    "trend_direction": "Improving",
    "fair_value": 9111.325014,
    "distance_from_fair_value": 0.269848,
    "fair_value_direction": "Weakening",
    "relative_strength": -15.880709,
    "relative_strength_direction": "Improving",
    "price_momentum": -0.004142,
    "excess_performance": -0.233971,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": false,
        "value": -0.031157,
        "read": "Below"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.032521,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.269848,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.231418,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.158807,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.171731,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": false,
        "value": -0.004142,
        "read": "Negative"
      },
      {
        "label": "Volume balance",
        "positive": false,
        "value": 0.16353,
        "read": "Supply-led"
      }
    ],
    "volume": {
      "latest": 4380,
      "relative_activity": 0.505295,
      "balance": 0.16353,
      "dry_up": 0.529637,
      "accumulation_observations": 0,
      "distribution_observations": 2
    },
    "risk": {
      "range_context": 0.068248,
      "annualized_volatility": 0.316223,
      "from_high_reference": -0.143914,
      "from_low_reference": 0.254661
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    "levels": {
      "trend_reference": 11942.078255,
      "fair_value_reference": 9111.325014,
      "structural_low": 10304.680374,
      "invalidation": "Reclaiming a flat-to-rising Trend with improving relative strength is required before the declining diagnosis is repaired."
    },
    "outcomes": [
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        "horizon": "Near term",
        "sample_count": 22,
        "median_return": 0.012224,
        "positive_rate": 0.545455,
        "directional_follow_through": 0.409091,
        "median_excess_return": 0.01136,
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        "worst_return": -0.060284,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
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        "worst_return": -0.079728,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 5,
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        "regime_survival": 0.2,
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        "worst_return": -0.049757,
        "sufficient": true
      },
      {
        "horizon": "Full cycle",
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        "worst_return": -0.229835,
        "sufficient": false
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    ],
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        "label": "Downward Expansion",
        "color": "red",
        "start": "2024-08-02",
        "end": "2025-02-07",
        "tenure": "Extended",
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      },
      {
        "regime": "balance",
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        "color": "blue",
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        "tenure": "New",
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      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
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        "tenure": "New",
        "return": 0.012782,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
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      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
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        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
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      {
        "regime": "deceleration",
        "label": "Deceleration",
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      },
      {
        "regime": "upward_expansion",
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        "active": false
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        "regime": "rotation_down",
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      },
      {
        "date": "2026-07-03",
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      },
      {
        "date": "2026-07-17",
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        "fair_value": 9041.176539,
        "relative_strength": -28.546514,
        "stage": 3,
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        "gate": "mixed",
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      },
      {
        "date": "2026-07-24",
        "close": 11130.62793,
        "volume": 4394,
        "typical_volume": 9886.55,
        "trend": 11868.028581,
        "fair_value": 9065.449062,
        "relative_strength": -25.963754,
        "stage": 4,
        "regime": "rotation_down",
        "modifier": "Supply rotation",
        "gate": "mixed",
        "direction": -34.622067,
        "energy": 34.247086,
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      },
      {
        "date": "2026-07-31",
        "close": 11020.0,
        "volume": 4904,
        "typical_volume": 9018.8,
        "trend": 11894.734863,
        "fair_value": 9087.042155,
        "relative_strength": -24.758163,
        "stage": 4,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "mixed",
        "direction": -35.567184,
        "energy": 32.870157,
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      },
      {
        "date": "2026-08-07",
        "close": 11570.0,
        "volume": 4380,
        "typical_volume": 8668.2,
        "trend": 11942.078255,
        "fair_value": 9111.325014,
        "relative_strength": -15.880709,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -54.283276,
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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."
    }
  }
}