{
  "ticker": {
    "uuid": "e8d16713-137f-4b1f-bac0-bfeefe7351d1",
    "symbol": "VI",
    "name": "Vanguard FTSE Developed All Cap ex Nrth Amer Idx ETF (CAD-Hdd)",
    "exchange": "TOR",
    "country": "CA",
    "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": "^GSPTSE",
    "stage": 2,
    "stage_name": "Advancing",
    "phase": "2b",
    "phase_label": "Stage 2B \u00b7 Advancing",
    "transition": "stage_2_healthy",
    "transition_label": "Stage 2 trend intact",
    "confidence": 78.003,
    "architecture_regime": "deceleration",
    "architecture_regime_label": "Deceleration",
    "architecture_modifier": "Recompressing",
    "architecture_gate": "up",
    "architecture_direction": 48.429,
    "architecture_energy": 26.438,
    "architecture_maturity": 61.265,
    "architecture_confidence": 81.094,
    "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": 33.1,
        "rotation_up": 30.23,
        "upward_expansion": 58.83,
        "deceleration": 88.1,
        "rotation_down": 27.42,
        "downward_expansion": 20.17
      },
      "activity_lines": [
        54.379333,
        54.607653,
        54.082496,
        53.246227
      ],
      "activity_state": "Moderate",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": 0.333333
    },
    "latest_close": 55.16,
    "trend_reference": 52.24791,
    "distance_from_trend": 0.055736,
    "trend_direction": "Improving",
    "fair_value": 41.470147,
    "distance_from_fair_value": 0.330113,
    "fair_value_direction": "Weakening",
    "relative_strength": -0.447994,
    "relative_strength_direction": "Weakening",
    "price_momentum": 0.082474,
    "excess_performance": -0.037948,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.055736,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.051843,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.330113,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.007249,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.00448,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.026192,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.082474,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": false,
        "value": 0.77308,
        "read": "Supply-led"
      }
    ],
    "volume": {
      "latest": 46500,
      "relative_activity": 0.432236,
      "balance": 0.77308,
      "dry_up": 0.951617,
      "accumulation_observations": 2,
      "distribution_observations": 3
    },
    "risk": {
      "range_context": 0.026057,
      "annualized_volatility": 0.170864,
      "from_high_reference": -0.015352,
      "from_low_reference": 0.287825
    },
    "levels": {
      "trend_reference": 52.24791,
      "fair_value_reference": 41.470147,
      "structural_low": 47.599998,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 6,
        "median_return": 0.035638,
        "positive_rate": 0.666667,
        "directional_follow_through": 0.666667,
        "median_excess_return": -0.007324,
        "regime_survival": 0.333333,
        "best_return": 0.067278,
        "worst_return": -0.016258,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 4,
        "median_return": 0.035618,
        "positive_rate": 0.75,
        "directional_follow_through": 0.75,
        "median_excess_return": 0.035027,
        "regime_survival": 0.25,
        "best_return": 0.148218,
        "worst_return": -0.003387,
        "sufficient": false
      },
      {
        "horizon": "Extended",
        "sample_count": 2,
        "median_return": 0.066551,
        "positive_rate": 1.0,
        "directional_follow_through": 1.0,
        "median_excess_return": 0.013464,
        "regime_survival": 0.0,
        "best_return": 0.072439,
        "worst_return": 0.060664,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
        "sample_count": 2,
        "median_return": 0.144516,
        "positive_rate": 1.0,
        "directional_follow_through": 1.0,
        "median_excess_return": 0.010971,
        "regime_survival": 0.0,
        "best_return": 0.146025,
        "worst_return": 0.143007,
        "sufficient": false
      }
    ],
    "ledger": [
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2023-10-27",
        "end": "2023-11-10",
        "tenure": "New",
        "return": 0.051856,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2023-11-17",
        "end": "2023-12-01",
        "tenure": "New",
        "return": 0.00742,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2023-12-08",
        "end": "2024-07-26",
        "tenure": "Extended",
        "return": 0.141778,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2024-08-02",
        "end": "2024-08-09",
        "tenure": "New",
        "return": 0.003176,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2024-08-16",
        "end": "2024-10-11",
        "tenure": "Developing",
        "return": 0.024282,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
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        "end": "2024-11-08",
        "tenure": "New",
        "return": -0.017242,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2024-11-15",
        "end": "2025-01-31",
        "tenure": "Developing",
        "return": 0.046591,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-02-07",
        "end": "2025-03-28",
        "tenure": "Developing",
        "return": 0.001328,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2025-04-04",
        "end": "2025-05-02",
        "tenure": "Developing",
        "return": 0.11072,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-05-09",
        "end": "2025-05-23",
        "tenure": "New",
        "return": 0.008994,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-05-30",
        "end": "2026-03-20",
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        "active": false
      },
      {
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        "label": "Deceleration",
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        "return": 0.099646,
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      },
      {
        "regime": "upward_expansion",
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        "color": "green",
        "start": "2026-04-24",
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        "tenure": "Established",
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        "active": false
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      {
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        "end": "2026-08-07",
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        "return": 0.022618,
        "active": true
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      },
      {
        "date": "2026-04-24",
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        "date": "2026-05-01",
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      },
      {
        "date": "2026-05-08",
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        "date": "2026-05-15",
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        "typical_volume": 138890.0,
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      },
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        "date": "2026-05-22",
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      },
      {
        "date": "2026-05-29",
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        "typical_volume": 146730.0,
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      },
      {
        "date": "2026-06-05",
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        "trend": 49.913693,
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        "relative_strength": 1.231983,
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        "activity_lines": [
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      },
      {
        "date": "2026-06-12",
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        "typical_volume": 138995.0,
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        "stage": 2,
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      },
      {
        "date": "2026-06-19",
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      },
      {
        "date": "2026-06-26",
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        "typical_volume": 126670.0,
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        "fair_value": 40.631887,
        "relative_strength": 3.337061,
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        "direction": 68.269887,
        "energy": 75.480057,
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      },
      {
        "date": "2026-07-03",
        "close": 55.880001,
        "volume": 18900,
        "typical_volume": 119360.0,
        "trend": 51.141956,
        "fair_value": 40.7841,
        "relative_strength": 3.984804,
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        "activity_lines": [
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      },
      {
        "date": "2026-07-10",
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        "volume": 210300,
        "typical_volume": 124360.0,
        "trend": 51.41757,
        "fair_value": 40.927314,
        "relative_strength": 2.044061,
        "stage": 2,
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        "modifier": "Re-accelerating",
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        "activity_lines": [
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      },
      {
        "date": "2026-07-17",
        "close": 53.630001,
        "volume": 176000,
        "typical_volume": 126025.0,
        "trend": 51.634644,
        "fair_value": 41.059043,
        "relative_strength": -0.231712,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 60.268527,
        "energy": 47.049275,
        "activity_lines": [
          54.766001,
          54.648527,
          53.5828,
          52.760357
        ]
      },
      {
        "date": "2026-07-24",
        "close": 53.98,
        "volume": 70400,
        "typical_volume": 113960.0,
        "trend": 51.858096,
        "fair_value": 41.190712,
        "relative_strength": 0.156161,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 46.331832,
        "energy": 35.565624,
        "activity_lines": [
          54.403334,
          54.587911,
          53.734488,
          52.91167
        ]
      },
      {
        "date": "2026-07-31",
        "close": 53.939999,
        "volume": 116600,
        "typical_volume": 112500.0,
        "trend": 52.056279,
        "fair_value": 41.327277,
        "relative_strength": 0.502447,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 38.923831,
        "energy": 22.81708,
        "activity_lines": [
          54.15,
          54.491382,
          53.86156,
          53.045987
        ]
      },
      {
        "date": "2026-08-07",
        "close": 55.16,
        "volume": 46500,
        "typical_volume": 107580.0,
        "trend": 52.24791,
        "fair_value": 41.470147,
        "relative_strength": -0.447994,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 48.429292,
        "energy": 26.437602,
        "activity_lines": [
          54.379333,
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          53.246227
        ]
      }
    ],
    "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."
    }
  }
}