{
  "ticker": {
    "uuid": "1345696b-42f0-4eea-8ebf-a43e01805ab2",
    "symbol": "SP5",
    "name": "Amundi Core S&P 500 Swap UCITS ETF EUR Dist",
    "exchange": "PAR",
    "country": "FR",
    "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": "^FCHI",
    "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": "upward_expansion",
    "architecture_regime_label": "Upward Expansion",
    "architecture_modifier": "Established expansion",
    "architecture_gate": "up",
    "architecture_direction": 83.727,
    "architecture_energy": 66.917,
    "architecture_maturity": 88.22,
    "architecture_confidence": 70.216,
    "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": 14.85,
        "rotation_up": 53.34,
        "upward_expansion": 82.85,
        "deceleration": 71.32,
        "rotation_down": 29.05,
        "downward_expansion": 11.85
      },
      "activity_lines": [
        67.832667,
        67.567819,
        66.598929,
        65.086742
      ],
      "activity_state": "Wide",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": 0.5
    },
    "latest_close": 69.220001,
    "trend_reference": 63.2954,
    "distance_from_trend": 0.093602,
    "trend_direction": "Improving",
    "fair_value": 53.718058,
    "distance_from_fair_value": 0.28858,
    "fair_value_direction": "Improving",
    "relative_strength": 5.494095,
    "relative_strength_direction": "Weakening",
    "price_momentum": 0.15679,
    "excess_performance": 0.103479,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.093602,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.041358,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.28858,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.034178,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.054941,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.040836,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.15679,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": false,
        "value": 0.875949,
        "read": "Supply-led"
      }
    ],
    "volume": {
      "latest": 97071,
      "relative_activity": 0.958242,
      "balance": 0.875949,
      "dry_up": 1.920655,
      "accumulation_observations": 2,
      "distribution_observations": 3
    },
    "risk": {
      "range_context": 0.018267,
      "annualized_volatility": 0.119001,
      "from_high_reference": -0.004602,
      "from_low_reference": 0.247214
    },
    "levels": {
      "trend_reference": 63.2954,
      "fair_value_reference": 53.718058,
      "structural_low": 57.0,
      "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": 41,
        "median_return": 0.014566,
        "positive_rate": 0.609756,
        "directional_follow_through": 0.609756,
        "median_excess_return": 0.002382,
        "regime_survival": 0.804878,
        "best_return": 0.078703,
        "worst_return": -0.103106,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
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        "regime_survival": 0.533333,
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        "worst_return": -0.178473,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 8,
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        "median_excess_return": 0.046937,
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        "worst_return": -0.08665,
        "sufficient": true
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      {
        "horizon": "Full cycle",
        "sample_count": 4,
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        "sufficient": false
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        "regime": "deceleration",
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      },
      {
        "date": "2026-04-24",
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      },
      {
        "date": "2026-05-08",
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        "date": "2026-05-15",
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      },
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        "activity_lines": [
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      },
      {
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        "typical_volume": 134787.4,
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      },
      {
        "date": "2026-06-05",
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        "fair_value": 52.159574,
        "relative_strength": 10.332105,
        "stage": 2,
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        "modifier": "Early expansion",
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      },
      {
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        "trend": 61.272925,
        "fair_value": 52.326219,
        "relative_strength": 7.232383,
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      },
      {
        "date": "2026-06-19",
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      },
      {
        "date": "2026-06-26",
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        "fair_value": 52.672083,
        "relative_strength": 7.008756,
        "stage": 2,
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        "energy": 67.705841,
        "activity_lines": [
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      },
      {
        "date": "2026-07-03",
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        "typical_volume": 79074.85,
        "trend": 62.017667,
        "fair_value": 52.848703,
        "relative_strength": 6.722213,
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      },
      {
        "date": "2026-07-10",
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        "relative_strength": 9.352759,
        "stage": 2,
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        "activity_lines": [
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      },
      {
        "date": "2026-07-17",
        "close": 67.339996,
        "volume": 156434,
        "typical_volume": 85958.2,
        "trend": 62.557733,
        "fair_value": 53.200401,
        "relative_strength": 7.878482,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 64.642366,
        "energy": 70.466294,
        "activity_lines": [
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          65.560724,
          64.129342
        ]
      },
      {
        "date": "2026-07-24",
        "close": 67.410004,
        "volume": 80844,
        "typical_volume": 85063.05,
        "trend": 62.802167,
        "fair_value": 53.367738,
        "relative_strength": 7.289768,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 64.410477,
        "energy": 64.495988,
        "activity_lines": [
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          64.442392
        ]
      },
      {
        "date": "2026-07-31",
        "close": 66.599998,
        "volume": 443909,
        "typical_volume": 101402.4,
        "trend": 63.0304,
        "fair_value": 53.533482,
        "relative_strength": 4.147747,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 60.828697,
        "energy": 58.940743,
        "activity_lines": [
          67.226667,
          67.178091,
          66.144986,
          64.687413
        ]
      },
      {
        "date": "2026-08-07",
        "close": 69.220001,
        "volume": 97071,
        "typical_volume": 101301.1,
        "trend": 63.2954,
        "fair_value": 53.718058,
        "relative_strength": 5.494095,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 83.727227,
        "energy": 66.916546,
        "activity_lines": [
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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."
    }
  }
}