{
  "ticker": {
    "uuid": "ef5ff626-9b1c-4512-9f3c-82d09d7dee59",
    "symbol": "SAUS",
    "name": "iShares MSCI Australia UCITS ETF USD (Acc)",
    "exchange": "MIL",
    "country": "IT",
    "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": "FTSEMIB.MI",
    "stage": 2,
    "stage_name": "Advancing",
    "phase": "2a",
    "phase_label": "Stage 2A \u00b7 Early advance",
    "transition": "stage_2_healthy",
    "transition_label": "Stage 2 trend intact",
    "confidence": 93.471,
    "architecture_regime": "upward_expansion",
    "architecture_regime_label": "Upward Expansion",
    "architecture_modifier": "Re-accelerating",
    "architecture_gate": "up",
    "architecture_direction": 91.144,
    "architecture_energy": 87.222,
    "architecture_maturity": 13.938,
    "architecture_confidence": 62.878,
    "architecture_tenure": "New",
    "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": 2.42,
        "rotation_up": 85.9,
        "upward_expansion": 96.4,
        "deceleration": 39.08,
        "rotation_down": 9.1,
        "downward_expansion": 18.4
      },
      "activity_lines": [
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        54.297571,
        53.882688
      ],
      "activity_state": "Wide",
      "activity_direction": "Expanding",
      "rotation_direction": "Improving",
      "price_acceptance": 1.0
    },
    "latest_close": 57.130001,
    "trend_reference": 53.182833,
    "distance_from_trend": 0.074219,
    "trend_direction": "Improving",
    "fair_value": 47.297244,
    "distance_from_fair_value": 0.207893,
    "fair_value_direction": "Improving",
    "relative_strength": -3.95263,
    "relative_strength_direction": "Improving",
    "price_momentum": 0.120855,
    "excess_performance": -0.050036,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.074219,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.044507,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.207893,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.042598,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.039526,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.002571,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.120855,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 2.601006,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 81711,
      "relative_activity": 0.874052,
      "balance": 2.601006,
      "dry_up": 1.138038,
      "accumulation_observations": 2,
      "distribution_observations": 1
    },
    "risk": {
      "range_context": 0.019254,
      "annualized_volatility": 0.149308,
      "from_high_reference": -0.001747,
      "from_low_reference": 0.249836
    },
    "levels": {
      "trend_reference": 53.182833,
      "fair_value_reference": 47.297244,
      "structural_low": 50.34,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 34,
        "median_return": 0.001359,
        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
        "median_excess_return": -0.015831,
        "regime_survival": 0.617647,
        "best_return": 0.086162,
        "worst_return": -0.090235,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 13,
        "median_return": 0.020999,
        "positive_rate": 0.615385,
        "directional_follow_through": 0.615385,
        "median_excess_return": -0.02241,
        "regime_survival": 0.538462,
        "best_return": 0.067501,
        "worst_return": -0.112581,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 8,
        "median_return": 0.020632,
        "positive_rate": 0.625,
        "directional_follow_through": 0.625,
        "median_excess_return": -0.050285,
        "regime_survival": 0.375,
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        "worst_return": -0.02497,
        "sufficient": true
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      {
        "horizon": "Full cycle",
        "sample_count": 4,
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        "worst_return": -0.007885,
        "sufficient": false
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        "end": "2025-03-14",
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        "return": -0.017222,
        "active": false
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      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
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        "tenure": "Developing",
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        "active": false
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      {
        "regime": "rotation_up",
        "label": "Rotation Up",
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      {
        "regime": "upward_expansion",
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      {
        "regime": "deceleration",
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      },
      {
        "date": "2026-05-01",
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        "typical_volume": 150533.85,
        "trend": 50.282333,
        "fair_value": 46.07484,
        "relative_strength": -2.304454,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
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        "direction": 58.738746,
        "energy": 60.352356,
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      },
      {
        "date": "2026-05-08",
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        "trend": 50.464,
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      },
      {
        "date": "2026-05-15",
        "close": 53.009998,
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        "typical_volume": 150835.1,
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        "modifier": "Re-accelerating",
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        "energy": 34.513822,
        "activity_lines": [
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      },
      {
        "date": "2026-05-22",
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        "typical_volume": 151498.0,
        "trend": 50.747167,
        "fair_value": 46.321346,
        "relative_strength": -5.278111,
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        "modifier": "Re-accelerating",
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        "energy": 26.796821,
        "activity_lines": [
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      },
      {
        "date": "2026-05-29",
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        "typical_volume": 139672.8,
        "trend": 50.916666,
        "fair_value": 46.415064,
        "relative_strength": -5.011456,
        "stage": 2,
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        "modifier": "Recompressing",
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        "energy": 27.546631,
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      },
      {
        "date": "2026-06-05",
        "close": 52.439999,
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        "typical_volume": 123589.3,
        "trend": 51.077333,
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        "relative_strength": -7.096549,
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        "regime": "deceleration",
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        "activity_lines": [
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      },
      {
        "date": "2026-06-12",
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        "typical_volume": 120881.95,
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        "stage": 2,
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      },
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        "date": "2026-06-19",
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      },
      {
        "date": "2026-06-26",
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        "typical_volume": 100975.35,
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        "relative_strength": -7.034248,
        "stage": 3,
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        "direction": 47.823565,
        "energy": 26.405628,
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      },
      {
        "date": "2026-07-03",
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        "volume": 3520,
        "typical_volume": 96232.9,
        "trend": 51.984833,
        "fair_value": 46.831026,
        "relative_strength": -9.147535,
        "stage": 3,
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      },
      {
        "date": "2026-07-10",
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        "volume": 82399,
        "typical_volume": 94932.25,
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        "fair_value": 46.91593,
        "relative_strength": -7.852708,
        "stage": 3,
        "regime": "deceleration",
        "modifier": "Momentum cooling",
        "gate": "up",
        "direction": 56.690114,
        "energy": 34.636597,
        "activity_lines": [
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      },
      {
        "date": "2026-07-17",
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        "volume": 90091,
        "typical_volume": 94508.65,
        "trend": 52.436,
        "fair_value": 47.003974,
        "relative_strength": -5.622338,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 63.28569,
        "energy": 40.003419,
        "activity_lines": [
          54.068667,
          53.848,
          53.636572,
          53.283796
        ]
      },
      {
        "date": "2026-07-24",
        "close": 54.939999,
        "volume": 116151,
        "typical_volume": 95467.7,
        "trend": 52.652333,
        "fair_value": 47.091218,
        "relative_strength": -4.57858,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 69.500404,
        "energy": 58.045908,
        "activity_lines": [
          54.4,
          54.082,
          53.789762,
          53.445344
        ]
      },
      {
        "date": "2026-07-31",
        "close": 55.189999,
        "volume": 137606,
        "typical_volume": 98858.65,
        "trend": 52.888833,
        "fair_value": 47.18641,
        "relative_strength": -4.620361,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 70.438475,
        "energy": 67.107262,
        "activity_lines": [
          54.746,
          54.326364,
          53.957429,
          53.609064
        ]
      },
      {
        "date": "2026-08-07",
        "close": 57.130001,
        "volume": 81711,
        "typical_volume": 93485.25,
        "trend": 53.182833,
        "fair_value": 47.297244,
        "relative_strength": -3.95263,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 91.143515,
        "energy": 87.222231,
        "activity_lines": [
          55.625333,
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          54.297571,
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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."
    }
  }
}