{
  "ticker": {
    "uuid": "211a31e0-8beb-44e6-b79c-695b5d6f47f5",
    "symbol": "RIEG",
    "name": "L&G MSCI Europe Select UCITS ETF - EUR Accumulating ETF",
    "exchange": "LSE",
    "country": "GB",
    "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": "^FTSE",
    "stage": 2,
    "stage_name": "Advancing",
    "phase": "2b",
    "phase_label": "Stage 2B \u00b7 Advancing",
    "transition": "stage_2_healthy",
    "transition_label": "Stage 2 trend intact",
    "confidence": 74.998,
    "architecture_regime": "upward_expansion",
    "architecture_regime_label": "Upward Expansion",
    "architecture_modifier": "Established expansion",
    "architecture_gate": "up",
    "architecture_direction": 84.549,
    "architecture_energy": 66.366,
    "architecture_maturity": 24.513,
    "architecture_confidence": 76.256,
    "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": 11.69,
        "rotation_up": 64.26,
        "upward_expansion": 84.5,
        "deceleration": 53.04,
        "rotation_down": 20.59,
        "downward_expansion": 11.17
      },
      "activity_lines": [
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      "activity_state": "Wide",
      "activity_direction": "Expanding",
      "rotation_direction": "Weakening",
      "price_acceptance": 0.666667
    },
    "latest_close": 1734.4,
    "trend_reference": 1641.216673,
    "distance_from_trend": 0.056777,
    "trend_direction": "Improving",
    "fair_value": 1405.530775,
    "distance_from_fair_value": 0.233982,
    "fair_value_direction": "Improving",
    "relative_strength": 0.440453,
    "relative_strength_direction": "Improving",
    "price_momentum": 0.063723,
    "excess_performance": 0.012487,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.056777,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.026049,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.233982,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.05151,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.004405,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.015252,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.063723,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": false,
        "value": 0.697701,
        "read": "Supply-led"
      }
    ],
    "volume": {
      "latest": 3318,
      "relative_activity": 0.340732,
      "balance": 0.697701,
      "dry_up": 1.001915,
      "accumulation_observations": 1,
      "distribution_observations": 3
    },
    "risk": {
      "range_context": 0.016281,
      "annualized_volatility": 0.158709,
      "from_high_reference": -0.001956,
      "from_low_reference": 0.193997
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    "levels": {
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      "fair_value_reference": 1405.530775,
      "structural_low": 1486.199951,
      "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": 34,
        "median_return": 0.007264,
        "positive_rate": 0.558824,
        "directional_follow_through": 0.558824,
        "median_excess_return": -0.001947,
        "regime_survival": 0.794118,
        "best_return": 0.063726,
        "worst_return": -0.096535,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 12,
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        "directional_follow_through": 0.75,
        "median_excess_return": -0.00061,
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        "worst_return": -0.06886,
        "sufficient": true
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        "horizon": "Extended",
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        "regime_survival": 0.625,
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        "worst_return": -0.128402,
        "sufficient": true
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      {
        "horizon": "Full cycle",
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        "date": "2026-06-05",
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      {
        "date": "2026-06-12",
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      },
      {
        "date": "2026-07-17",
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        "typical_volume": 10604.9,
        "trend": 1629.240006,
        "fair_value": 1395.548083,
        "relative_strength": -0.654093,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
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        "energy": 63.153772,
        "activity_lines": [
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      },
      {
        "date": "2026-07-24",
        "close": 1686.2,
        "volume": 24054,
        "typical_volume": 9985.3,
        "trend": 1633.053337,
        "fair_value": 1398.639109,
        "relative_strength": -0.885116,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 63.690237,
        "energy": 50.823088,
        "activity_lines": [
          1682.76,
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          1658.324293,
          1646.550329
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      },
      {
        "date": "2026-07-31",
        "close": 1698.8,
        "volume": 78,
        "typical_volume": 9652.6,
        "trend": 1637.010005,
        "fair_value": 1401.967955,
        "relative_strength": -1.339893,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 68.179094,
        "energy": 46.492491,
        "activity_lines": [
          1687.3,
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          1664.361911,
          1650.792049
        ]
      },
      {
        "date": "2026-08-07",
        "close": 1734.4,
        "volume": 3318,
        "typical_volume": 9737.85,
        "trend": 1641.216673,
        "fair_value": 1405.530775,
        "relative_strength": 0.440453,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 84.549486,
        "energy": 66.365987,
        "activity_lines": [
          1702.56,
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          1673.223339,
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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."
    }
  }
}