{ "ticker": { "uuid": "1634f6bc-3f5b-4b84-840a-ae5fdc3a38ca", "symbol": "JPST", "name": "JPMorgan ETFs (Ireland) ICAV - USD Ultra-Short Income Active UCITS ETF USD (dist)", "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": 3, "stage_name": "Distribution", "phase": "3a", "phase_label": "Stage 3A \u00b7 Churning", "transition": "stage_3_churning", "transition_label": "Stage 3 range intact", "confidence": 64.752, "architecture_regime": "upward_expansion", "architecture_regime_label": "Upward Expansion", "architecture_modifier": "Established expansion", "architecture_gate": "up", "architecture_direction": 51.301, "architecture_energy": 44.416, "architecture_maturity": 64.328, "architecture_confidence": 54.749, "architecture_tenure": "Developing", "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": 18.89, "rotation_up": 47.38, "upward_expansion": 70.88, "deceleration": 62.41, "rotation_down": 26.04, "downward_expansion": 18.55 }, "activity_lines": [ 88.335665, 88.379615, 87.858443, 87.492994 ], "activity_state": "Moderate", "activity_direction": "Contracting", "rotation_direction": "Weakening", "price_acceptance": 0.666667 }, "latest_close": 87.849998, "trend_reference": 86.953872, "distance_from_trend": 0.010306, "trend_direction": "Improving", "fair_value": 85.953313, "distance_from_fair_value": 0.022066, "fair_value_direction": "Improving", "relative_strength": -12.765528, "relative_strength_direction": "Weakening", "price_momentum": 0.031725, "excess_performance": -0.139167, "evidence": [ { "label": "Price vs Trend", "positive": true, "value": 0.010306, "read": "Above" }, { "label": "Trend direction", "positive": true, "value": 0.010034, "read": "Rising" }, { "label": "Price vs current Fair Value", "positive": true, "value": 0.022066, "read": "Premium" }, { "label": "Fair Value direction", "positive": true, "value": 0.012593, "read": "Closing upward" }, { "label": "Relative Strength vs benchmark", "positive": false, "value": -0.127655, "read": "Lagging" }, { "label": "Relative strength direction", "positive": false, "value": -0.012517, "read": "Weakening" }, { "label": "Price momentum", "positive": true, "value": 0.031725, "read": "Positive" }, { "label": "Volume balance", "positive": true, "value": 1.886669, "read": "Demand-led" } ], "volume": { "latest": 1591, "relative_activity": 1.610813, "balance": 1.886669, "dry_up": 2.204617, "accumulation_observations": 3, "distribution_observations": 2 }, "risk": { "range_context": 0.00684, "annualized_volatility": 0.054861, "from_high_reference": -0.014029, "from_low_reference": 0.052187 }, "levels": { "trend_reference": 86.953872, "fair_value_reference": 85.953313, "structural_low": 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86.549659, "fair_value": 85.727332, "relative_strength": -11.616108, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 72.339898, "energy": 88.935323, "activity_lines": [ 88.471315, 88.001357, 87.42702, 87.053723 ] }, { "date": "2026-07-17", "close": 88.574997, "volume": 4577, "typical_volume": 1051.45, "trend": 86.663537, "fair_value": 85.789679, "relative_strength": -10.006111, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 69.101005, "energy": 87.492261, "activity_lines": [ 88.573546, 88.1807, 87.564871, 87.18439 ] }, { "date": "2026-07-24", "close": 89.099998, "volume": 2066, "typical_volume": 990.25, "trend": 86.801145, "fair_value": 85.852112, "relative_strength": -9.027562, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 82.320389, "energy": 90.151951, "activity_lines": [ 88.762065, 88.410765, 87.737462, 87.341581 ] }, { "date": "2026-07-31", "close": 88.195, "volume": 476, "typical_volume": 945.55, "trend": 86.896947, "fair_value": 85.9058, "relative_strength": -10.190483, "stage": 3, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 65.364025, "energy": 59.396355, "activity_lines": [ 88.579055, 88.434145, 87.814683, 87.431507 ] }, { "date": "2026-08-07", "close": 87.849998, "volume": 1591, "typical_volume": 987.7, "trend": 86.953872, "fair_value": 85.953313, "relative_strength": -12.765528, "stage": 3, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 51.301002, "energy": 44.416246, "activity_lines": [ 88.335665, 88.379615, 87.858443, 87.492994 ] } ], "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." } } }