{
  "ticker": {
    "uuid": "f0c25d81-4e53-4333-8c63-9a98e57663d9",
    "symbol": "INAA",
    "name": "iShares MSCI North America UCITS ETF USD (Dist)",
    "exchange": "EBS",
    "country": "CH",
    "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": "^SSMI",
    "stage": 2,
    "stage_name": "Advancing",
    "phase": "2b",
    "phase_label": "Stage 2B \u00b7 Advancing",
    "transition": "stage_2_healthy",
    "transition_label": "Stage 2 trend intact",
    "confidence": 87.768,
    "architecture_regime": "upward_expansion",
    "architecture_regime_label": "Upward Expansion",
    "architecture_modifier": "Established expansion",
    "architecture_gate": "up",
    "architecture_direction": 89.033,
    "architecture_energy": 69.934,
    "architecture_maturity": 62.08,
    "architecture_confidence": 74.742,
    "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": 30.48,
        "rotation_up": 56.12,
        "upward_expansion": 82.99,
        "deceleration": 67.85,
        "rotation_down": 28.28,
        "downward_expansion": 11.99
      },
      "activity_lines": [
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        135.341075
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      "activity_state": "Moderate",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": 0.5
    },
    "latest_close": 143.759995,
    "trend_reference": 132.323733,
    "distance_from_trend": 0.086426,
    "trend_direction": "Improving",
    "fair_value": 108.454552,
    "distance_from_fair_value": 0.325532,
    "fair_value_direction": "Improving",
    "relative_strength": 0.73442,
    "relative_strength_direction": "Weakening",
    "price_momentum": 0.130327,
    "excess_performance": 0.047443,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.086426,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.033755,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.325532,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.009146,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.007344,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.068473,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.130327,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 2.295195,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 2274,
      "relative_activity": 0.170674,
      "balance": 2.295195,
      "dry_up": 0.477328,
      "accumulation_observations": 2,
      "distribution_observations": 0
    },
    "risk": {
      "range_context": 0.015023,
      "annualized_volatility": 0.124012,
      "from_high_reference": 0.0,
      "from_low_reference": 0.225303
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    "levels": {
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      "fair_value_reference": 108.454552,
      "structural_low": 118.499373,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
    },
    "outcomes": [
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        "horizon": "Near term",
        "sample_count": 40,
        "median_return": 0.017977,
        "positive_rate": 0.7,
        "directional_follow_through": 0.7,
        "median_excess_return": 0.006042,
        "regime_survival": 0.8,
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        "worst_return": -0.096456,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
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        "worst_return": -0.060002,
        "sufficient": true
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        "horizon": "Extended",
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        "horizon": "Full cycle",
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        "regime": "balance",
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      },
      {
        "date": "2026-04-24",
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        "trend": 125.895115,
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        "stage": 3,
        "regime": "rotation_up",
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      },
      {
        "date": "2026-05-01",
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        "relative_strength": 4.925954,
        "stage": 2,
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      },
      {
        "date": "2026-05-08",
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        "trend": 126.554045,
        "fair_value": 103.489686,
        "relative_strength": 7.581734,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
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        "direction": 86.043379,
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        "activity_lines": [
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      },
      {
        "date": "2026-05-15",
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        "typical_volume": 16023.5,
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      },
      {
        "date": "2026-05-22",
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        "relative_strength": 5.548155,
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      },
      {
        "date": "2026-05-29",
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        "typical_volume": 17729.35,
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        "relative_strength": 6.20315,
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        "direction": 85.22508,
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        "activity_lines": [
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      },
      {
        "date": "2026-06-05",
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        "volume": 952,
        "typical_volume": 17628.7,
        "trend": 128.553937,
        "fair_value": 105.101879,
        "relative_strength": 6.929722,
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        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
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      },
      {
        "date": "2026-06-12",
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        "typical_volume": 17917.15,
        "trend": 128.96202,
        "fair_value": 105.471809,
        "relative_strength": 2.330528,
        "stage": 2,
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        "modifier": "Re-accelerating",
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      },
      {
        "date": "2026-06-19",
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      },
      {
        "date": "2026-06-26",
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        "trend": 129.865755,
        "fair_value": 106.219011,
        "relative_strength": -1.799873,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 63.199605,
        "energy": 61.591253,
        "activity_lines": [
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      },
      {
        "date": "2026-07-03",
        "close": 139.080002,
        "volume": 0,
        "typical_volume": 15365.55,
        "trend": 130.268443,
        "fair_value": 106.601384,
        "relative_strength": -1.809743,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
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        "activity_lines": [
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      },
      {
        "date": "2026-07-10",
        "close": 139.720001,
        "volume": 4310,
        "typical_volume": 14757.3,
        "trend": 130.725499,
        "fair_value": 106.973403,
        "relative_strength": -0.078466,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 65.490304,
        "energy": 61.032381,
        "activity_lines": [
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      },
      {
        "date": "2026-07-17",
        "close": 138.639999,
        "volume": 6720,
        "typical_volume": 14789.75,
        "trend": 131.134594,
        "fair_value": 107.335808,
        "relative_strength": -1.597848,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 61.411413,
        "energy": 59.995844,
        "activity_lines": [
          138.741334,
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          136.192877,
          133.720697
        ]
      },
      {
        "date": "2026-07-24",
        "close": 137.580002,
        "volume": 11079,
        "typical_volume": 14622.65,
        "trend": 131.469816,
        "fair_value": 107.687163,
        "relative_strength": -2.196128,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 52.01208,
        "energy": 56.450503,
        "activity_lines": [
          138.429334,
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          136.64919,
          134.13653
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      },
      {
        "date": "2026-07-31",
        "close": 138.199997,
        "volume": 5366,
        "typical_volume": 14293.75,
        "trend": 131.819724,
        "fair_value": 108.048938,
        "relative_strength": -1.824901,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 50.116759,
        "energy": 50.157607,
        "activity_lines": [
          138.384,
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          137.105936,
          134.570735
        ]
      },
      {
        "date": "2026-08-07",
        "close": 143.759995,
        "volume": 2274,
        "typical_volume": 13323.65,
        "trend": 132.323733,
        "fair_value": 108.454552,
        "relative_strength": 0.73442,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 89.033278,
        "energy": 69.934151,
        "activity_lines": [
          140.089331,
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          135.341075
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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."
    }
  }
}