{
  "ticker": {
    "uuid": "eed70e49-f149-4cd6-946f-e4d1794c30c5",
    "symbol": "292050",
    "name": "KB Asset Management Co. Ltd. - KB KBStar KRX300 ETF Fund",
    "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": 3,
    "stage_name": "Distribution",
    "phase": "3a",
    "phase_label": "Stage 3A \u00b7 Churning",
    "transition": "stage_3_churning",
    "transition_label": "Stage 3 range intact",
    "confidence": 96.0,
    "architecture_regime": "deceleration",
    "architecture_regime_label": "Deceleration",
    "architecture_modifier": "Recompressing",
    "architecture_gate": "up",
    "architecture_direction": -13.749,
    "architecture_energy": 31.235,
    "architecture_maturity": 63.263,
    "architecture_confidence": 87.484,
    "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": 47.59,
        "rotation_up": 14.04,
        "upward_expansion": 43.33,
        "deceleration": 87.76,
        "rotation_down": 54.63,
        "downward_expansion": 39.66
      },
      "activity_lines": [
        47637.666667,
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        50847.880973
      ],
      "activity_state": "Compressed",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": -0.666667
    },
    "latest_close": 44500.0,
    "trend_reference": 46874.230859,
    "distance_from_trend": -0.050651,
    "trend_direction": "Improving",
    "fair_value": 23621.379157,
    "distance_from_fair_value": 0.883887,
    "fair_value_direction": "Weakening",
    "relative_strength": 3.257224,
    "relative_strength_direction": "Weakening",
    "price_momentum": 0.269292,
    "excess_performance": 0.039463,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": false,
        "value": -0.050651,
        "read": "Below"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.244451,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.883887,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.749519,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.032572,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.037033,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.269292,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 1.192544,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 7267,
      "relative_activity": 0.567251,
      "balance": 1.192544,
      "dry_up": 0.649213,
      "accumulation_observations": 2,
      "distribution_observations": 1
    },
    "risk": {
      "range_context": 0.146249,
      "annualized_volatility": 0.509011,
      "from_high_reference": -0.352162,
      "from_low_reference": 1.243933
    },
    "levels": {
      "trend_reference": 46874.230859,
      "fair_value_reference": 23621.379157,
      "structural_low": 35093.644215,
      "invalidation": "A decisive breakout above range resistance with renewed RS leadership invalidates the distribution reading; a range-low break confirms deterioration."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 9,
        "median_return": 0.01086,
        "positive_rate": 0.555556,
        "directional_follow_through": 0.555556,
        "median_excess_return": 0.008711,
        "regime_survival": 0.222222,
        "best_return": 0.300271,
        "worst_return": -0.044368,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 6,
        "median_return": 0.028507,
        "positive_rate": 0.833333,
        "directional_follow_through": 0.833333,
        "median_excess_return": 0.013738,
        "regime_survival": 0.166667,
        "best_return": 0.327755,
        "worst_return": -0.026777,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 3,
        "median_return": 0.067827,
        "positive_rate": 0.666667,
        "directional_follow_through": 0.666667,
        "median_excess_return": 0.035037,
        "regime_survival": 0.333333,
        "best_return": 0.120853,
        "worst_return": -0.066816,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
        "sample_count": 2,
        "median_return": 0.071157,
        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
        "median_excess_return": 0.036392,
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        "worst_return": -0.054563,
        "sufficient": false
      }
    ],
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        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
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        "end": "2024-05-17",
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        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
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        "end": "2024-05-31",
        "tenure": "New",
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        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
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        "end": "2024-06-14",
        "tenure": "New",
        "return": 0.016357,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
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        "tenure": "Developing",
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        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
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        "tenure": "Developing",
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        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
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        "end": "2024-09-20",
        "tenure": "New",
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        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2024-09-27",
        "end": "2025-01-31",
        "tenure": "Established",
        "return": -0.061804,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
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        "end": "2025-02-21",
        "tenure": "New",
        "return": 0.051423,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
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        "end": "2025-04-04",
        "tenure": "Developing",
        "return": -0.020396,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
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        "end": "2025-05-16",
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        "active": false
      },
      {
        "regime": "upward_expansion",
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      },
      {
        "date": "2026-07-24",
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      },
      {
        "date": "2026-07-31",
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        "typical_volume": 12923.2,
        "trend": 46433.886979,
        "fair_value": 23437.331311,
        "relative_strength": 8.286283,
        "stage": 2,
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      },
      {
        "date": "2026-08-07",
        "close": 44500.0,
        "volume": 7267,
        "typical_volume": 12810.9,
        "trend": 46874.230859,
        "fair_value": 23621.379157,
        "relative_strength": 3.257224,
        "stage": 3,
        "regime": "deceleration",
        "modifier": "Recompressing",
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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."
    }
  }
}