{
  "ticker": {
    "uuid": "2653a679-6da3-4d92-a9a7-1ce011a3acc3",
    "symbol": "UIM4",
    "name": "UBS Core MSCI EMU UCITS ETF EUR dis",
    "exchange": "AMS",
    "country": "NL",
    "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": "^AEX",
    "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": 81.621,
    "architecture_energy": 62.545,
    "architecture_maturity": 68.204,
    "architecture_confidence": 67.689,
    "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": 15.54,
        "rotation_up": 53.19,
        "upward_expansion": 81.37,
        "deceleration": 70.02,
        "rotation_down": 27.76,
        "downward_expansion": 10.37
      },
      "activity_lines": [
        218.483335,
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        213.666096,
        209.680448
      ],
      "activity_state": "Moderate",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": 0.5
    },
    "latest_close": 223.050003,
    "trend_reference": 205.464514,
    "distance_from_trend": 0.085589,
    "trend_direction": "Improving",
    "fair_value": 169.190478,
    "distance_from_fair_value": 0.318337,
    "fair_value_direction": "Improving",
    "relative_strength": 0.879326,
    "relative_strength_direction": "Weakening",
    "price_momentum": 0.120521,
    "excess_performance": 0.003858,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.085589,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.044594,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.318337,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.069093,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.008793,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.003726,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.120521,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 1.354156,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 3113,
      "relative_activity": 1.130458,
      "balance": 1.354156,
      "dry_up": 1.200091,
      "accumulation_observations": 2,
      "distribution_observations": 2
    },
    "risk": {
      "range_context": 0.020761,
      "annualized_volatility": 0.165016,
      "from_high_reference": -0.00112,
      "from_low_reference": 0.251028
    },
    "levels": {
      "trend_reference": 205.464514,
      "fair_value_reference": 169.190478,
      "structural_low": 182.279999,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 38,
        "median_return": 0.007515,
        "positive_rate": 0.631579,
        "directional_follow_through": 0.631579,
        "median_excess_return": -0.001066,
        "regime_survival": 0.763158,
        "best_return": 0.087238,
        "worst_return": -0.133363,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 12,
        "median_return": 0.01618,
        "positive_rate": 0.75,
        "directional_follow_through": 0.75,
        "median_excess_return": 0.011204,
        "regime_survival": 0.583333,
        "best_return": 0.100965,
        "worst_return": -0.056615,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 8,
        "median_return": 0.0817,
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        "directional_follow_through": 0.875,
        "median_excess_return": -0.003177,
        "regime_survival": 0.625,
        "best_return": 0.163218,
        "worst_return": -0.16781,
        "sufficient": true
      },
      {
        "horizon": "Full cycle",
        "sample_count": 4,
        "median_return": 0.153858,
        "positive_rate": 0.75,
        "directional_follow_through": 0.75,
        "median_excess_return": 0.019345,
        "regime_survival": 0.25,
        "best_return": 0.231015,
        "worst_return": -0.120223,
        "sufficient": false
      }
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        "label": "Deceleration",
        "color": "amber",
        "start": "2024-06-28",
        "end": "2024-08-16",
        "tenure": "Developing",
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      {
        "regime": "rotation_down",
        "label": "Rotation Down",
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        "tenure": "New",
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        "active": false
      },
      {
        "regime": "balance",
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        "active": false
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      {
        "regime": "rotation_up",
        "label": "Rotation Up",
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      },
      {
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        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
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        "end": "2024-12-06",
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        "active": false
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      {
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        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
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        "end": "2025-04-04",
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        "regime": "deceleration",
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        "relative_strength": 0.386834,
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        "activity_lines": [
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      },
      {
        "date": "2026-07-17",
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        "typical_volume": 3314.4,
        "trend": 203.06765,
        "fair_value": 167.628695,
        "relative_strength": -1.32064,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
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        "energy": 60.489731,
        "activity_lines": [
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      },
      {
        "date": "2026-07-24",
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        "volume": 2544,
        "typical_volume": 2834.65,
        "trend": 203.917676,
        "fair_value": 168.11543,
        "relative_strength": -0.294538,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
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        "energy": 56.69947,
        "activity_lines": [
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      },
      {
        "date": "2026-07-31",
        "close": 217.050003,
        "volume": 2121,
        "typical_volume": 2767.1,
        "trend": 204.697956,
        "fair_value": 168.632112,
        "relative_strength": -0.745189,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 62.294098,
        "energy": 50.084756,
        "activity_lines": [
          216.493335,
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        ]
      },
      {
        "date": "2026-08-07",
        "close": 223.050003,
        "volume": 3113,
        "typical_volume": 2753.75,
        "trend": 205.464514,
        "fair_value": 169.190478,
        "relative_strength": 0.879326,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
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        "energy": 62.544769,
        "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."
    }
  }
}