{
  "ticker": {
    "uuid": "991891df-7ec1-432b-8fe4-4720d3051c68",
    "symbol": "FSML",
    "name": "Firetrail Australian Small Companies Fund - Active ETF",
    "exchange": "ASX",
    "country": "AU",
    "assetType": "etf"
  },
  "methodBoundary": "The SM framework classifies the established weekly price path as the Core Trend. Faster and slower Trend views and Sharemaestro context describe that state but do not alter its direction.",
  "analysis": {
    "eligible": true,
    "as_of": "2026-08-07",
    "latest_close": 2.12,
    "direction": "positive",
    "state": "Positive, Trend views divided",
    "is_fresh": false,
    "is_near_boundary": false,
    "direction_boundary": 1.941724,
    "boundary_margin": 0.091813,
    "trend_agreement": "Divided",
    "persistence": "Established",
    "direction_turnover": "Low",
    "annualized_volatility": 0.250371,
    "volatility_stability": 0.9317,
    "risk_context": 0.3994,
    "current_regime": {
      "move": -0.039106,
      "interruption": -0.190871,
      "interruption_label": "Deepest pullback inside regime"
    },
    "research_priority": 61.001,
    "interpretation": {
      "label": "Positive, Trend views divided",
      "headline": "Positive, Trend views divided",
      "body": "The Core Trend remains intact, but faster and slower Trend views disagree. The regime is less settled than a fully aligned trend.",
      "age_context": "The current Core Trend is established.",
      "boundary_context": "The latest close is 9.2% above the decision boundary.",
      "stability_context": "Recent Core Trend turnover is low."
    },
    "chart_path": [
      {
        "date": "2025-12-05",
        "close": 2.206278,
        "direction_boundary": 1.75597,
        "core_momentum": 0.256444,
        "direction": "positive",
        "trend_agreement": 1.0,
        "volatility": 0.171195
      },
      {
        "date": "2025-12-12",
        "close": 2.226244,
        "direction_boundary": 1.726038,
        "core_momentum": 0.2898,
        "direction": "positive",
        "trend_agreement": 1.0,
        "volatility": 0.170983
      },
      {
        "date": "2025-12-19",
        "close": 2.246211,
        "direction_boundary": 1.65121,
        "core_momentum": 0.360342,
        "direction": "positive",
        "trend_agreement": 1.0,
        "volatility": 0.169675
      },
      {
        "date": "2025-12-26",
        "close": 2.296126,
        "direction_boundary": 1.68613,
        "core_momentum": 0.361773,
        "direction": "positive",
        "trend_agreement": 1.0,
        "volatility": 0.169793
      },
      {
        "date": "2026-01-02",
        "close": 2.28,
        "direction_boundary": 1.696107,
        "core_momentum": 0.344255,
        "direction": "positive",
        "trend_agreement": 1.0,
        "volatility": 0.170162
      },
      {
        "date": "2026-01-09",
        "close": 2.33,
        "direction_boundary": 1.696107,
        "core_momentum": 0.373734,
        "direction": "positive",
        "trend_agreement": 1.0,
        "volatility": 0.16266
      },
      {
        "date": "2026-01-16",
        "close": 2.37,
        "direction_boundary": 1.706084,
        "core_momentum": 0.389146,
        "direction": "positive",
        "trend_agreement": 1.0,
        "volatility": 0.15972
      },
      {
        "date": "2026-01-23",
        "close": 2.41,
        "direction_boundary": 1.745993,
        "core_momentum": 0.380303,
        "direction": "positive",
        "trend_agreement": 1.0,
        "volatility": 0.160104
      },
      {
        "date": "2026-01-30",
        "close": 2.34,
        "direction_boundary": 1.775924,
        "core_momentum": 0.317624,
        "direction": "positive",
        "trend_agreement": 1.0,
        "volatility": 0.166104
      },
      {
        "date": "2026-02-06",
        "close": 2.16,
        "direction_boundary": 1.780912,
        "core_momentum": 0.212862,
        "direction": "positive",
        "trend_agreement": 0.75,
        "volatility": 0.203028
      },
      {
        "date": "2026-02-13",
        "close": 2.17,
        "direction_boundary": 1.800867,
        "core_momentum": 0.204975,
        "direction": "positive",
        "trend_agreement": 0.75,
        "volatility": 0.202646
      },
      {
        "date": "2026-02-20",
        "close": 2.2,
        "direction_boundary": 1.810844,
        "core_momentum": 0.214903,
        "direction": "positive",
        "trend_agreement": 1.0,
        "volatility": 0.202934
      },
      {
        "date": "2026-02-27",
        "close": 2.33,
        "direction_boundary": 1.750981,
        "core_momentum": 0.330683,
        "direction": "positive",
        "trend_agreement": 1.0,
        "volatility": 0.204762
      },
      {
        "date": "2026-03-06",
        "close": 2.21,
        "direction_boundary": 1.72105,
        "core_momentum": 0.2841,
        "direction": "positive",
        "trend_agreement": 1.0,
        "volatility": 0.219211
      },
      {
        "date": "2026-03-13",
        "close": 2.11,
        "direction_boundary": 1.701096,
        "core_momentum": 0.240377,
        "direction": "positive",
        "trend_agreement": 0.5,
        "volatility": 0.228686
      },
      {
        "date": "2026-03-20",
        "close": 2.01,
        "direction_boundary": 1.75597,
        "core_momentum": 0.144666,
        "direction": "positive",
        "trend_agreement": 0.5,
        "volatility": 0.238011
      },
      {
        "date": "2026-03-27",
        "close": 2.02,
        "direction_boundary": 1.760958,
        "core_momentum": 0.147103,
        "direction": "positive",
        "trend_agreement": 0.5,
        "volatility": 0.238031
      },
      {
        "date": "2026-04-03",
        "close": 2.04,
        "direction_boundary": 1.611302,
        "core_momentum": 0.266057,
        "direction": "positive",
        "trend_agreement": 0.5,
        "volatility": 0.232135
      },
      {
        "date": "2026-04-10",
        "close": 2.15,
        "direction_boundary": 1.631256,
        "core_momentum": 0.318003,
        "direction": "positive",
        "trend_agreement": 0.5,
        "volatility": 0.244812
      },
      {
        "date": "2026-04-17",
        "close": 2.2,
        "direction_boundary": 1.701096,
        "core_momentum": 0.293284,
        "direction": "positive",
        "trend_agreement": 0.5,
        "volatility": 0.247161
      },
      {
        "date": "2026-04-24",
        "close": 2.18,
        "direction_boundary": 1.68613,
        "core_momentum": 0.292901,
        "direction": "positive",
        "trend_agreement": 0.5,
        "volatility": 0.247385
      },
      {
        "date": "2026-05-01",
        "close": 2.024178,
        "direction_boundary": 1.736016,
        "core_momentum": 0.16599,
        "direction": "positive",
        "trend_agreement": 0.5,
        "volatility": 0.266895
      },
      {
        "date": "2026-05-08",
        "close": 2.014719,
        "direction_boundary": 1.795878,
        "core_momentum": 0.121857,
        "direction": "positive",
        "trend_agreement": 0.5,
        "volatility": 0.262838
      },
      {
        "date": "2026-05-15",
        "close": 2.024178,
        "direction_boundary": 1.800867,
        "core_momentum": 0.124002,
        "direction": "positive",
        "trend_agreement": 0.5,
        "volatility": 0.262503
      },
      {
        "date": "2026-05-22",
        "close": 2.00526,
        "direction_boundary": 1.820821,
        "core_momentum": 0.101294,
        "direction": "positive",
        "trend_agreement": 0.5,
        "volatility": 0.25804
      },
      {
        "date": "2026-05-29",
        "close": 2.071471,
        "direction_boundary": 1.880683,
        "core_momentum": 0.101446,
        "direction": "positive",
        "trend_agreement": 0.25,
        "volatility": 0.2452
      },
      {
        "date": "2026-06-05",
        "close": 2.034289,
        "direction_boundary": 1.870706,
        "core_momentum": 0.087445,
        "direction": "positive",
        "trend_agreement": 0.25,
        "volatility": 0.245221
      },
      {
        "date": "2026-06-12",
        "close": 2.043751,
        "direction_boundary": 1.870706,
        "core_momentum": 0.092503,
        "direction": "positive",
        "trend_agreement": 0.25,
        "volatility": 0.244863
      },
      {
        "date": "2026-06-19",
        "close": 2.109984,
        "direction_boundary": 1.855741,
        "core_momentum": 0.137003,
        "direction": "positive",
        "trend_agreement": 0.5,
        "volatility": 0.249188
      },
      {
        "date": "2026-06-26",
        "close": 2.015366,
        "direction_boundary": 1.895649,
        "core_momentum": 0.063154,
        "direction": "positive",
        "trend_agreement": 0.25,
        "volatility": 0.253636
      },
      {
        "date": "2026-07-03",
        "close": 2.05,
        "direction_boundary": 1.886817,
        "core_momentum": 0.086486,
        "direction": "positive",
        "trend_agreement": 0.5,
        "volatility": 0.255443
      },
      {
        "date": "2026-07-10",
        "close": 2.0,
        "direction_boundary": 1.83191,
        "core_momentum": 0.091757,
        "direction": "positive",
        "trend_agreement": 0.25,
        "volatility": 0.254175
      },
      {
        "date": "2026-07-17",
        "close": 1.95,
        "direction_boundary": 1.891809,
        "core_momentum": 0.030759,
        "direction": "positive",
        "trend_agreement": 0.25,
        "volatility": 0.253327
      },
      {
        "date": "2026-07-24",
        "close": 1.985,
        "direction_boundary": 1.906783,
        "core_momentum": 0.04102,
        "direction": "positive",
        "trend_agreement": 0.25,
        "volatility": 0.253533
      },
      {
        "date": "2026-07-31",
        "close": 1.975,
        "direction_boundary": 1.881825,
        "core_momentum": 0.049513,
        "direction": "positive",
        "trend_agreement": 0.25,
        "volatility": 0.251546
      },
      {
        "date": "2026-08-07",
        "close": 2.12,
        "direction_boundary": 1.941724,
        "core_momentum": 0.091813,
        "direction": "positive",
        "trend_agreement": 0.5,
        "volatility": 0.250371
      }
    ],
    "price_history": [
      {
        "date": "2024-12-06",
        "close": 1.75597,
        "volume": 1724266
      },
      {
        "date": "2024-12-13",
        "close": 1.726038,
        "volume": 1781659
      },
      {
        "date": "2024-12-20",
        "close": 1.65121,
        "volume": 982241
      },
      {
        "date": "2024-12-27",
        "close": 1.68613,
        "volume": 185845
      },
      {
        "date": "2025-01-03",
        "close": 1.696107,
        "volume": 326042
      },
      {
        "date": "2025-01-10",
        "close": 1.696107,
        "volume": 567921
      },
      {
        "date": "2025-01-17",
        "close": 1.706084,
        "volume": 1140596
      },
      {
        "date": "2025-01-24",
        "close": 1.745993,
        "volume": 727719
      },
      {
        "date": "2025-01-31",
        "close": 1.775924,
        "volume": 779730
      },
      {
        "date": "2025-02-07",
        "close": 1.780912,
        "volume": 750409
      },
      {
        "date": "2025-02-14",
        "close": 1.800867,
        "volume": 633416
      },
      {
        "date": "2025-02-21",
        "close": 1.810844,
        "volume": 1155914
      },
      {
        "date": "2025-02-28",
        "close": 1.750981,
        "volume": 3854352
      },
      {
        "date": "2025-03-07",
        "close": 1.72105,
        "volume": 731365
      },
      {
        "date": "2025-03-14",
        "close": 1.701096,
        "volume": 1103394
      },
      {
        "date": "2025-03-21",
        "close": 1.75597,
        "volume": 1916995
      },
      {
        "date": "2025-03-28",
        "close": 1.760958,
        "volume": 2247527
      },
      {
        "date": "2025-04-04",
        "close": 1.611302,
        "volume": 627968
      },
      {
        "date": "2025-04-11",
        "close": 1.631256,
        "volume": 809984
      },
      {
        "date": "2025-04-18",
        "close": 1.701096,
        "volume": 402973
      },
      {
        "date": "2025-04-25",
        "close": 1.68613,
        "volume": 953391
      },
      {
        "date": "2025-05-02",
        "close": 1.736016,
        "volume": 933538
      },
      {
        "date": "2025-05-09",
        "close": 1.795878,
        "volume": 804804
      },
      {
        "date": "2025-05-16",
        "close": 1.800867,
        "volume": 1013554
      },
      {
        "date": "2025-05-23",
        "close": 1.820821,
        "volume": 617610
      },
      {
        "date": "2025-05-30",
        "close": 1.880683,
        "volume": 1124456
      },
      {
        "date": "2025-06-06",
        "close": 1.870706,
        "volume": 683388
      },
      {
        "date": "2025-06-13",
        "close": 1.870706,
        "volume": 809831
      },
      {
        "date": "2025-06-20",
        "close": 1.855741,
        "volume": 1392302
      },
      {
        "date": "2025-06-27",
        "close": 1.895649,
        "volume": 984811
      },
      {
        "date": "2025-07-04",
        "close": 1.886817,
        "volume": 1330367
      },
      {
        "date": "2025-07-11",
        "close": 1.83191,
        "volume": 1621929
      },
      {
        "date": "2025-07-18",
        "close": 1.891809,
        "volume": 1429858
      },
      {
        "date": "2025-07-25",
        "close": 1.906783,
        "volume": 3683545
      },
      {
        "date": "2025-08-01",
        "close": 1.881825,
        "volume": 2792139
      },
      {
        "date": "2025-08-08",
        "close": 1.941724,
        "volume": 1765209
      },
      {
        "date": "2025-08-15",
        "close": 1.966682,
        "volume": 3038582
      },
      {
        "date": "2025-08-22",
        "close": 1.986649,
        "volume": 2044152
      },
      {
        "date": "2025-08-29",
        "close": 2.096463,
        "volume": 2280884
      },
      {
        "date": "2025-09-05",
        "close": 2.11643,
        "volume": 1503845
      },
      {
        "date": "2025-09-12",
        "close": 2.136396,
        "volume": 1655015
      },
      {
        "date": "2025-09-19",
        "close": 2.146379,
        "volume": 2445063
      },
      {
        "date": "2025-09-26",
        "close": 2.156362,
        "volume": 1994764
      },
      {
        "date": "2025-10-03",
        "close": 2.236228,
        "volume": 3330861
      },
      {
        "date": "2025-10-10",
        "close": 2.236228,
        "volume": 2628320
      },
      {
        "date": "2025-10-17",
        "close": 2.236228,
        "volume": 1869817
      },
      {
        "date": "2025-10-24",
        "close": 2.225845,
        "volume": 2348617
      },
      {
        "date": "2025-10-31",
        "close": 2.246211,
        "volume": 3044549
      },
      {
        "date": "2025-11-07",
        "close": 2.166346,
        "volume": 2428729
      },
      {
        "date": "2025-11-14",
        "close": 2.186312,
        "volume": 1845761
      },
      {
        "date": "2025-11-21",
        "close": 2.106446,
        "volume": 3041080
      },
      {
        "date": "2025-11-28",
        "close": 2.246211,
        "volume": 3101885
      },
      {
        "date": "2025-12-05",
        "close": 2.206278,
        "volume": 2507872
      },
      {
        "date": "2025-12-12",
        "close": 2.226244,
        "volume": 3300198
      },
      {
        "date": "2025-12-19",
        "close": 2.246211,
        "volume": 2265659
      },
      {
        "date": "2025-12-26",
        "close": 2.296126,
        "volume": 640887
      },
      {
        "date": "2026-01-02",
        "close": 2.28,
        "volume": 381911
      },
      {
        "date": "2026-01-09",
        "close": 2.33,
        "volume": 766734
      },
      {
        "date": "2026-01-16",
        "close": 2.37,
        "volume": 1776757
      },
      {
        "date": "2026-01-23",
        "close": 2.41,
        "volume": 2156936
      },
      {
        "date": "2026-01-30",
        "close": 2.34,
        "volume": 1717012
      },
      {
        "date": "2026-02-06",
        "close": 2.16,
        "volume": 4404405
      },
      {
        "date": "2026-02-13",
        "close": 2.17,
        "volume": 3093814
      },
      {
        "date": "2026-02-20",
        "close": 2.2,
        "volume": 1318730
      },
      {
        "date": "2026-02-27",
        "close": 2.33,
        "volume": 1394815
      },
      {
        "date": "2026-03-06",
        "close": 2.21,
        "volume": 1483029
      },
      {
        "date": "2026-03-13",
        "close": 2.11,
        "volume": 1365287
      },
      {
        "date": "2026-03-20",
        "close": 2.01,
        "volume": 1234185
      },
      {
        "date": "2026-03-27",
        "close": 2.02,
        "volume": 2550673
      },
      {
        "date": "2026-04-03",
        "close": 2.04,
        "volume": 1611156
      },
      {
        "date": "2026-04-10",
        "close": 2.15,
        "volume": 1959028
      },
      {
        "date": "2026-04-17",
        "close": 2.2,
        "volume": 2366244
      },
      {
        "date": "2026-04-24",
        "close": 2.18,
        "volume": 1657092
      },
      {
        "date": "2026-05-01",
        "close": 2.024178,
        "volume": 2181413
      },
      {
        "date": "2026-05-08",
        "close": 2.014719,
        "volume": 1424511
      },
      {
        "date": "2026-05-15",
        "close": 2.024178,
        "volume": 1966186
      },
      {
        "date": "2026-05-22",
        "close": 2.00526,
        "volume": 1955194
      },
      {
        "date": "2026-05-29",
        "close": 2.071471,
        "volume": 2038435
      },
      {
        "date": "2026-06-05",
        "close": 2.034289,
        "volume": 218122
      },
      {
        "date": "2026-06-12",
        "close": 2.043751,
        "volume": 441483
      },
      {
        "date": "2026-06-19",
        "close": 2.109984,
        "volume": 300703
      },
      {
        "date": "2026-06-26",
        "close": 2.015366,
        "volume": 256060
      },
      {
        "date": "2026-07-03",
        "close": 2.05,
        "volume": 565251
      },
      {
        "date": "2026-07-10",
        "close": 2.0,
        "volume": 1826371
      },
      {
        "date": "2026-07-17",
        "close": 1.95,
        "volume": 3313376
      },
      {
        "date": "2026-07-24",
        "close": 1.985,
        "volume": 3226719
      },
      {
        "date": "2026-07-31",
        "close": 1.975,
        "volume": 2253561
      },
      {
        "date": "2026-08-07",
        "close": 2.12,
        "volume": 1517514
      }
    ],
    "sharemaestro_context": {
      "trend": 2.110773,
      "fair_value": 1.993403,
      "market_activity": -22.938137,
      "market_dynamics": -0.08884,
      "relative_strength": -5.960165
    },
    "historical_outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 4,
        "median_return": -0.026604,
        "directional_follow_through": 0.5,
        "regime_survival": 1.0,
        "conditional_difference": -0.020589,
        "sufficient": false
      },
      {
        "horizon": "Intermediate",
        "sample_count": 1,
        "median_return": -0.031398,
        "directional_follow_through": 0.0,
        "regime_survival": 1.0,
        "conditional_difference": 0.040332,
        "sufficient": false
      },
      {
        "horizon": "Longer term",
        "sample_count": 0,
        "median_return": null,
        "directional_follow_through": null,
        "regime_survival": null,
        "conditional_difference": null,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
        "sample_count": 0,
        "median_return": null,
        "directional_follow_through": null,
        "regime_survival": null,
        "conditional_difference": null,
        "sufficient": false
      }
    ],
    "regime_history": [
      {
        "direction": "positive",
        "start": "2025-12-05",
        "end": "2026-08-07",
        "tenure": "Extended",
        "return": -0.039106
      }
    ]
  }
}