{
  "ticker": {
    "uuid": "25b060a7-f0e6-4a61-993b-743b07649a72",
    "symbol": "PTPXH",
    "name": "Amundi PEA Japon (TOPIX) UCITS ETF EUR Hedged Acc",
    "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": 70.135,
    "architecture_energy": 41.766,
    "architecture_maturity": 82.839,
    "architecture_confidence": 79.677,
    "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": 24.31,
        "rotation_up": 45.39,
        "upward_expansion": 74.59,
        "deceleration": 88.43,
        "rotation_down": 28.21,
        "downward_expansion": 10.25
      },
      "activity_lines": [
        57.636001,
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        56.764914,
        55.771407
      ],
      "activity_state": "Moderate",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": 0.666667
    },
    "latest_close": 58.740002,
    "trend_reference": 54.567033,
    "distance_from_trend": 0.076474,
    "trend_direction": "Improving",
    "fair_value": 40.809465,
    "distance_from_fair_value": 0.439372,
    "fair_value_direction": "Improving",
    "relative_strength": 7.79106,
    "relative_strength_direction": "Weakening",
    "price_momentum": 0.098971,
    "excess_performance": 0.04566,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.076474,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.060761,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.439372,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.014322,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.077911,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.08286,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.098971,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 2.918668,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 19233,
      "relative_activity": 1.070591,
      "balance": 2.918668,
      "dry_up": 0.934464,
      "accumulation_observations": 4,
      "distribution_observations": 1
    },
    "risk": {
      "range_context": 0.030091,
      "annualized_volatility": 0.196021,
      "from_high_reference": -0.005081,
      "from_low_reference": 0.378873
    },
    "levels": {
      "trend_reference": 54.567033,
      "fair_value_reference": 40.809465,
      "structural_low": 49.099998,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 41,
        "median_return": 0.020259,
        "positive_rate": 0.609756,
        "directional_follow_through": 0.609756,
        "median_excess_return": 0.008607,
        "regime_survival": 0.780488,
        "best_return": 0.098969,
        "worst_return": -0.093117,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 14,
        "median_return": 0.04916,
        "positive_rate": 0.714286,
        "directional_follow_through": 0.714286,
        "median_excess_return": 0.052213,
        "regime_survival": 0.714286,
        "best_return": 0.166813,
        "worst_return": -0.04892,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 8,
        "median_return": 0.083442,
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        "directional_follow_through": 0.75,
        "median_excess_return": 0.065945,
        "regime_survival": 0.625,
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        "worst_return": -0.080636,
        "sufficient": true
      },
      {
        "horizon": "Full cycle",
        "sample_count": 4,
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        "worst_return": -0.074747,
        "sufficient": false
      }
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        "end": "2024-05-17",
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        "active": false
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      {
        "regime": "upward_expansion",
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      {
        "regime": "rotation_down",
        "label": "Rotation Down",
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      },
      {
        "regime": "deceleration",
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        "end": "2024-09-27",
        "tenure": "Developing",
        "return": 8.3e-05,
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      },
      {
        "regime": "balance",
        "label": "Balance",
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      {
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        "active": false
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      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
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        "end": "2025-05-02",
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      },
      {
        "date": "2026-05-01",
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        "typical_volume": 23219.7,
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        "fair_value": 38.296324,
        "relative_strength": 12.61218,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
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      },
      {
        "date": "2026-05-08",
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        "typical_volume": 25531.15,
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      },
      {
        "date": "2026-05-15",
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        "typical_volume": 26343.75,
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        "relative_strength": 18.594797,
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      },
      {
        "date": "2026-05-22",
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        "typical_volume": 26474.05,
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        "relative_strength": 16.153628,
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        "modifier": "Re-accelerating",
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      },
      {
        "date": "2026-05-29",
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        "typical_volume": 26449.95,
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      },
      {
        "date": "2026-06-05",
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        "typical_volume": 25525.7,
        "trend": 51.7723,
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        "relative_strength": 14.724523,
        "stage": 2,
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        "modifier": "Re-accelerating",
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        "energy": 71.001018,
        "activity_lines": [
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      },
      {
        "date": "2026-06-12",
        "close": 56.296001,
        "volume": 1878,
        "typical_volume": 24579.8,
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        "fair_value": 39.356247,
        "relative_strength": 12.285145,
        "stage": 2,
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        "modifier": "Re-accelerating",
        "gate": "up",
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        "energy": 70.173837,
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      },
      {
        "date": "2026-06-19",
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      },
      {
        "date": "2026-06-26",
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        "fair_value": 39.721696,
        "relative_strength": 12.48214,
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        "gate": "up",
        "direction": 67.045617,
        "energy": 73.783897,
        "activity_lines": [
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      },
      {
        "date": "2026-07-03",
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        "volume": 3084,
        "typical_volume": 21088.7,
        "trend": 53.1238,
        "fair_value": 39.908254,
        "relative_strength": 12.073832,
        "stage": 2,
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        "modifier": "Re-accelerating",
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      },
      {
        "date": "2026-07-10",
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        "fair_value": 40.098421,
        "relative_strength": 14.245349,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 74.615632,
        "energy": 80.55915,
        "activity_lines": [
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      },
      {
        "date": "2026-07-17",
        "close": 56.48,
        "volume": 13209,
        "typical_volume": 20270.9,
        "trend": 53.734133,
        "fair_value": 40.271638,
        "relative_strength": 9.715489,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 62.968396,
        "energy": 51.326702,
        "activity_lines": [
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          57.274272,
          55.987614,
          55.065344
        ]
      },
      {
        "date": "2026-07-24",
        "close": 57.82,
        "volume": 9501,
        "typical_volume": 18306.6,
        "trend": 54.051267,
        "fair_value": 40.450094,
        "relative_strength": 11.298325,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 65.262433,
        "energy": 50.231644,
        "activity_lines": [
          57.61,
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          56.28959,
          55.328948
        ]
      },
      {
        "date": "2026-07-31",
        "close": 56.48,
        "volume": 25207,
        "typical_volume": 18250.45,
        "trend": 54.310633,
        "fair_value": 40.623747,
        "relative_strength": 6.545706,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 47.144546,
        "energy": 34.709676,
        "activity_lines": [
          57.220667,
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          56.432424,
          55.485641
        ]
      },
      {
        "date": "2026-08-07",
        "close": 58.740002,
        "volume": 19233,
        "typical_volume": 17964.85,
        "trend": 54.567033,
        "fair_value": 40.809465,
        "relative_strength": 7.79106,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 70.134615,
        "energy": 41.765649,
        "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."
    }
  }
}