{
  "ticker": {
    "uuid": "052e430e-4441-4061-a024-505da0cb8f20",
    "symbol": "INQQ",
    "name": "HANetf INQQ India Internet UCITS ETF 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": 1,
    "stage_name": "Basing",
    "phase": "1c",
    "phase_label": "Stage 1C \u00b7 Breakout watch",
    "transition": "stage_1_to_2_watch",
    "transition_label": "Stage 1 \u2192 2 watch",
    "confidence": 96.0,
    "architecture_regime": "rotation_up",
    "architecture_regime_label": "Rotation Up",
    "architecture_modifier": "Emerging rotation",
    "architecture_gate": "up",
    "architecture_direction": 83.8,
    "architecture_energy": 86.837,
    "architecture_maturity": 16.863,
    "architecture_confidence": 63.242,
    "architecture_tenure": "Developing",
    "architecture": {
      "interpretation": {
        "headline": "The Activity Line structure is rotating upward.",
        "body": "Fast Activity is improving relative to Slow Activity and price acceptance is strengthening. This is earlier than full positive Trend confirmation and remains a developing repair."
      },
      "scores": {
        "balance": 13.92,
        "rotation_up": 81.44,
        "upward_expansion": 95.49,
        "deceleration": 43.21,
        "rotation_down": 9.46,
        "downward_expansion": 19.82
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        6.94371
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      "activity_state": "Wide",
      "activity_direction": "Expanding",
      "rotation_direction": "Improving",
      "price_acceptance": 0.833333
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    "latest_close": 7.515,
    "trend_reference": 6.921267,
    "distance_from_trend": 0.085784,
    "trend_direction": "Weakening",
    "fair_value": 8.193922,
    "distance_from_fair_value": -0.082857,
    "fair_value_direction": "Improving",
    "relative_strength": -15.002186,
    "relative_strength_direction": "Improving",
    "price_momentum": 0.032564,
    "excess_performance": -0.138328,
    "evidence": [
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        "label": "Price vs Trend",
        "positive": true,
        "value": 0.085784,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": false,
        "value": -0.046206,
        "read": "Falling"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": false,
        "value": -0.082857,
        "read": "Below anchor"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.094606,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.150022,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.098836,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.032564,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 2.859113,
        "read": "Demand-led"
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    ],
    "volume": {
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      "relative_activity": 0.180394,
      "balance": 2.859113,
      "dry_up": 0.146014,
      "accumulation_observations": 0,
      "distribution_observations": 0
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    "risk": {
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      "annualized_volatility": 0.220317,
      "from_high_reference": -0.151614,
      "from_low_reference": 0.222349
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      "fair_value_reference": 8.193922,
      "structural_low": 6.148,
      "invalidation": "A renewed decline below the structural range low, widening the discount to current Fair Value while Trend falls, weakens the base diagnosis."
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    "outcomes": [
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        "horizon": "Near term",
        "sample_count": 2,
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        "horizon": "Extended",
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        "horizon": "Full cycle",
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        "end": "2025-06-20",
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        "regime": "balance",
        "label": "Balance",
        "color": "blue",
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        "end": "2025-11-14",
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        "active": false
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        "end": "2026-06-19",
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        "typical_volume": 7338.4,
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        "relative_strength": -25.894783,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
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        "direction": -67.955435,
        "energy": 67.430758,
        "activity_lines": [
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      },
      {
        "date": "2026-04-17",
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        "date": "2026-04-24",
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        "date": "2026-05-01",
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      },
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        "date": "2026-05-08",
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      },
      {
        "date": "2026-05-15",
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        "activity_lines": [
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        "date": "2026-05-22",
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        "energy": 43.283789,
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      },
      {
        "date": "2026-05-29",
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        "typical_volume": 8139.7,
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        "energy": 43.872847,
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      },
      {
        "date": "2026-06-05",
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        "relative_strength": -26.404238,
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        "gate": "down",
        "direction": -59.27088,
        "energy": 51.540233,
        "activity_lines": [
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      },
      {
        "date": "2026-06-12",
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        "trend": 7.1393,
        "fair_value": 8.252053,
        "relative_strength": -27.235479,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
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      },
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        "date": "2026-06-19",
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        "energy": 12.688584,
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      },
      {
        "date": "2026-06-26",
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        "relative_strength": -20.758974,
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        "regime": "balance",
        "modifier": "Balance after decline",
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        "direction": 5.710721,
        "energy": 13.69547,
        "activity_lines": [
          6.853933,
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          6.731119,
          6.827583
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      },
      {
        "date": "2026-07-03",
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        "fair_value": 8.225096,
        "relative_strength": -22.37089,
        "stage": 4,
        "regime": "balance",
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        "gate": "down",
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        "energy": 29.162798,
        "activity_lines": [
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      },
      {
        "date": "2026-07-10",
        "close": 7.426,
        "volume": 3387,
        "typical_volume": 6558.05,
        "trend": 7.006267,
        "fair_value": 8.219263,
        "relative_strength": -16.999941,
        "stage": 1,
        "regime": "rotation_up",
        "modifier": "Structural repair",
        "gate": "mixed",
        "direction": 53.805061,
        "energy": 72.578279,
        "activity_lines": [
          7.1336,
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          6.851718
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      },
      {
        "date": "2026-07-17",
        "close": 7.281,
        "volume": 1841,
        "typical_volume": 6118.55,
        "trend": 6.985233,
        "fair_value": 8.212464,
        "relative_strength": -16.779103,
        "stage": 1,
        "regime": "rotation_up",
        "modifier": "Emerging rotation",
        "gate": "mixed",
        "direction": 49.882363,
        "energy": 80.952839,
        "activity_lines": [
          7.219267,
          7.021636,
          6.878376,
          6.869443
        ]
      },
      {
        "date": "2026-07-24",
        "close": 7.118,
        "volume": 325,
        "typical_volume": 6059.95,
        "trend": 6.954267,
        "fair_value": 8.20459,
        "relative_strength": -17.801176,
        "stage": 4,
        "regime": "rotation_up",
        "modifier": "Emerging rotation",
        "gate": "mixed",
        "direction": 40.2946,
        "energy": 75.479559,
        "activity_lines": [
          7.205467,
          7.0658,
          6.912838,
          6.878009
        ]
      },
      {
        "date": "2026-07-31",
        "close": 7.39,
        "volume": 9,
        "typical_volume": 6005.05,
        "trend": 6.932367,
        "fair_value": 8.198771,
        "relative_strength": -14.554695,
        "stage": 1,
        "regime": "rotation_up",
        "modifier": "Emerging rotation",
        "gate": "mixed",
        "direction": 54.890263,
        "energy": 80.971059,
        "activity_lines": [
          7.276467,
          7.148745,
          6.97081,
          6.90612
        ]
      },
      {
        "date": "2026-08-07",
        "close": 7.515,
        "volume": 972,
        "typical_volume": 5388.2,
        "trend": 6.921267,
        "fair_value": 8.193922,
        "relative_strength": -15.002186,
        "stage": 1,
        "regime": "rotation_up",
        "modifier": "Emerging rotation",
        "gate": "up",
        "direction": 83.799593,
        "energy": 86.837233,
        "activity_lines": [
          7.365133,
          7.240564,
          7.036081,
          6.94371
        ]
      }
    ],
    "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."
    }
  }
}