{
  "ticker": {
    "uuid": "f43fd5cf-d1e4-4a2f-a0e1-d677c8f4b636",
    "symbol": "VDU",
    "name": "Vanguard FTSE Developed All Cap ex U.S. Index ETF",
    "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": 96.0,
    "architecture_regime": "deceleration",
    "architecture_regime_label": "Deceleration",
    "architecture_modifier": "Recompressing",
    "architecture_gate": "up",
    "architecture_direction": 57.263,
    "architecture_energy": 35.195,
    "architecture_maturity": 56.518,
    "architecture_confidence": 86.601,
    "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": 29.34,
        "rotation_up": 36.52,
        "upward_expansion": 63.97,
        "deceleration": 88.02,
        "rotation_down": 26.95,
        "downward_expansion": 16.3
      },
      "activity_lines": [
        62.66,
        62.736477,
        61.943149,
        60.824544
      ],
      "activity_state": "Moderate",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": 0.333333
    },
    "latest_close": 63.869999,
    "trend_reference": 59.546198,
    "distance_from_trend": 0.072613,
    "trend_direction": "Improving",
    "fair_value": 46.483393,
    "distance_from_fair_value": 0.374039,
    "fair_value_direction": "Improving",
    "relative_strength": 0.656866,
    "relative_strength_direction": "Weakening",
    "price_momentum": 0.105028,
    "excess_performance": -0.015393,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.072613,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.052966,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.374039,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.005559,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.006569,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.013268,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.105028,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 1.695499,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 37600,
      "relative_activity": 0.760595,
      "balance": 1.695499,
      "dry_up": 0.980075,
      "accumulation_observations": 4,
      "distribution_observations": 2
    },
    "risk": {
      "range_context": 0.028156,
      "annualized_volatility": 0.195804,
      "from_high_reference": -0.010535,
      "from_low_reference": 0.29997
    },
    "levels": {
      "trend_reference": 59.546198,
      "fair_value_reference": 46.483393,
      "structural_low": 53.099998,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 10,
        "median_return": 0.024189,
        "positive_rate": 0.7,
        "directional_follow_through": 0.7,
        "median_excess_return": -0.000176,
        "regime_survival": 0.3,
        "best_return": 0.083654,
        "worst_return": -0.027811,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 6,
        "median_return": 0.023656,
        "positive_rate": 1.0,
        "directional_follow_through": 1.0,
        "median_excess_return": -0.001573,
        "regime_survival": 0.166667,
        "best_return": 0.16322,
        "worst_return": 0.004652,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 4,
        "median_return": 0.029289,
        "positive_rate": 0.75,
        "directional_follow_through": 0.75,
        "median_excess_return": -0.042073,
        "regime_survival": 0.0,
        "best_return": 0.222261,
        "worst_return": -0.03888,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
        "sample_count": 4,
        "median_return": 0.145727,
        "positive_rate": 0.75,
        "directional_follow_through": 0.75,
        "median_excess_return": -0.043172,
        "regime_survival": 0.25,
        "best_return": 0.287968,
        "worst_return": -0.172397,
        "sufficient": false
      }
    ],
    "ledger": [
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
        "start": "2023-12-01",
        "end": "2023-12-15",
        "tenure": "New",
        "return": 0.005604,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2023-12-22",
        "end": "2024-04-26",
        "tenure": "Established",
        "return": 0.064758,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2024-05-03",
        "end": "2024-05-10",
        "tenure": "New",
        "return": 0.015486,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2024-05-17",
        "end": "2024-06-28",
        "tenure": "Developing",
        "return": -0.020612,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2024-07-05",
        "end": "2024-07-12",
        "tenure": "New",
        "return": 0.020569,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2024-07-19",
        "end": "2024-11-15",
        "tenure": "Established",
        "return": 0.000958,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2024-11-22",
        "end": "2025-01-24",
        "tenure": "Developing",
        "return": 0.049976,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-01-31",
        "end": "2025-03-28",
        "tenure": "Developing",
        "return": 0.015182,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2025-04-04",
        "end": "2025-04-11",
        "tenure": "New",
        "return": 0.028333,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2025-04-18",
        "end": "2025-05-09",
        "tenure": "New",
        "return": 0.063305,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-05-16",
        "end": "2026-03-20",
        "tenure": "Extended",
        "return": 0.144037,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2026-03-27",
        "end": "2026-04-17",
        "tenure": "New",
        "return": 0.102063,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2026-04-24",
        "end": "2026-07-24",
        "tenure": "Established",
        "return": 0.061071,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2026-07-31",
        "end": "2026-08-07",
        "tenure": "New",
        "return": 0.025695,
        "active": true
      }
    ],
    "chart_path": [
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        "date": "2023-08-18",
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        "typical_volume": 33040.0,
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      },
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        "date": "2026-04-24",
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        "date": "2026-05-08",
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      },
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      {
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      },
      {
        "date": "2026-06-05",
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        "relative_strength": 0.742819,
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      },
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      },
      {
        "date": "2026-06-19",
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      },
      {
        "date": "2026-06-26",
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        "relative_strength": 3.223452,
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      },
      {
        "date": "2026-07-03",
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        "typical_volume": 60935.0,
        "trend": 58.183929,
        "fair_value": 45.651337,
        "relative_strength": 2.851108,
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      },
      {
        "date": "2026-07-10",
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        "typical_volume": 61020.0,
        "trend": 58.515001,
        "fair_value": 45.821882,
        "relative_strength": 2.555062,
        "stage": 2,
        "regime": "upward_expansion",
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      },
      {
        "date": "2026-07-17",
        "close": 61.450001,
        "volume": 59100,
        "typical_volume": 59095.0,
        "trend": 58.773947,
        "fair_value": 45.98091,
        "relative_strength": -0.151633,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 60.181766,
        "energy": 46.909819,
        "activity_lines": [
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      },
      {
        "date": "2026-07-24",
        "close": 61.790001,
        "volume": 54300,
        "typical_volume": 54700.0,
        "trend": 59.037659,
        "fair_value": 46.140203,
        "relative_strength": 0.144722,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 46.250839,
        "energy": 35.259449,
        "activity_lines": [
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          61.372285,
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      },
      {
        "date": "2026-07-31",
        "close": 62.27,
        "volume": 42800,
        "typical_volume": 50555.0,
        "trend": 59.297228,
        "fair_value": 46.306939,
        "relative_strength": 1.331669,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 41.727146,
        "energy": 28.341496,
        "activity_lines": [
          62.168667,
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          61.598807,
          60.529526
        ]
      },
      {
        "date": "2026-08-07",
        "close": 63.869999,
        "volume": 37600,
        "typical_volume": 49435.0,
        "trend": 59.546198,
        "fair_value": 46.483393,
        "relative_strength": 0.656866,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 57.263129,
        "energy": 35.194924,
        "activity_lines": [
          62.66,
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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."
    }
  }
}