{ "ticker": { "uuid": "173a2563-ccde-41b4-a50d-697b596af197", "symbol": "EMU", "name": "Amundi Core MSCI EMU UCITS ETF 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": 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": 80.644, "architecture_energy": 62.4, "architecture_maturity": 55.183, "architecture_confidence": 70.098, "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": 13.46, "rotation_up": 54.08, "upward_expansion": 81.2, "deceleration": 66.26, "rotation_down": 27.02, "downward_expansion": 10.2 }, "activity_lines": [ 83.961999, 83.637817, 82.02938, 80.490494 ], "activity_state": "Wide", "activity_direction": "Contracting", "rotation_direction": "Weakening", "price_acceptance": 0.5 }, "latest_close": 85.639999, "trend_reference": 78.875, "distance_from_trend": 0.085769, "trend_direction": "Improving", "fair_value": 64.962686, "distance_from_fair_value": 0.318295, "fair_value_direction": "Improving", "relative_strength": -3.037917, "relative_strength_direction": "Improving", "price_momentum": 0.11163, "excess_performance": -0.059261, "evidence": [ { "label": "Price vs Trend", "positive": true, "value": 0.085769, "read": "Above" }, { "label": "Trend direction", "positive": true, "value": 0.043537, "read": "Rising" }, { "label": "Price vs current Fair Value", "positive": true, "value": 0.318295, "read": "Premium" }, { "label": "Fair Value direction", "positive": true, "value": 0.069102, "read": "Closing upward" }, { "label": "Relative Strength vs benchmark", "positive": false, "value": -0.030379, "read": "Lagging" }, { "label": "Relative strength direction", "positive": true, "value": 0.020574, "read": "Improving" }, { "label": "Price momentum", "positive": true, "value": 0.11163, "read": "Positive" }, { "label": "Volume balance", "positive": true, "value": 2.41608, "read": "Demand-led" } ], "volume": { "latest": 872, "relative_activity": 0.05365, "balance": 2.41608, "dry_up": 0.629901, "accumulation_observations": 2, "distribution_observations": 1 }, "risk": { "range_context": 0.021683, "annualized_volatility": 0.161518, "from_high_reference": -0.003491, "from_low_reference": 0.263503 }, "levels": { "trend_reference": 78.875, "fair_value_reference": 64.962686, "structural_low": 69.720001, "invalidation": "A 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"regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 62.455062, "energy": 57.364724, "activity_lines": [ 83.192666, 82.913091, 81.030904, 79.707462 ] }, { "date": "2026-07-31", "close": 83.379997, "volume": 12889, "typical_volume": 16613.1, "trend": 78.580666, "fair_value": 64.748627, "relative_strength": -2.871276, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 61.779512, "energy": 50.686638, "activity_lines": [ 83.226666, 83.100545, 81.444761, 80.035053 ] }, { "date": "2026-08-07", "close": 85.639999, "volume": 872, "typical_volume": 16253.35, "trend": 78.875, "fair_value": 64.962686, "relative_strength": -3.037917, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 80.643685, "energy": 62.399748, "activity_lines": [ 83.961999, 83.637817, 82.02938, 80.490494 ] } ], "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." } } }