{
  "ticker": {
    "uuid": "2a5ec89e-fb03-427d-8d6e-1bc68f61f696",
    "symbol": "UD03",
    "name": "UBS Factor MSCI EMU Prime Value Screened UCITS ETF EUR dis",
    "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": 96.0,
    "architecture_regime": "upward_expansion",
    "architecture_regime_label": "Upward Expansion",
    "architecture_modifier": "Established expansion",
    "architecture_gate": "up",
    "architecture_direction": 85.322,
    "architecture_energy": 73.292,
    "architecture_maturity": 69.706,
    "architecture_confidence": 87.637,
    "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": 7.36,
        "rotation_up": 61.61,
        "upward_expansion": 85.33,
        "deceleration": 65.9,
        "rotation_down": 28.27,
        "downward_expansion": 12.0
      },
      "activity_lines": [
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      "activity_state": "Wide",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": 0.666667
    },
    "latest_close": 2328.0,
    "trend_reference": 2102.07923,
    "distance_from_trend": 0.107475,
    "trend_direction": "Improving",
    "fair_value": 1778.501036,
    "distance_from_fair_value": 0.308967,
    "fair_value_direction": "Improving",
    "relative_strength": 6.994669,
    "relative_strength_direction": "Improving",
    "price_momentum": 0.168642,
    "excess_performance": 0.117407,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.107475,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.057552,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.308967,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.095022,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.069947,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.034803,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.168642,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 26.441995,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 3192,
      "relative_activity": 1.790291,
      "balance": 26.441995,
      "dry_up": 1.871617,
      "accumulation_observations": 4,
      "distribution_observations": 0
    },
    "risk": {
      "range_context": 0.015662,
      "annualized_volatility": 0.148011,
      "from_high_reference": -0.002464,
      "from_low_reference": 0.302625
    },
    "levels": {
      "trend_reference": 2102.07923,
      "fair_value_reference": 1778.501036,
      "structural_low": 1858.199951,
      "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": 28,
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        "positive_rate": 0.571429,
        "directional_follow_through": 0.571429,
        "median_excess_return": -0.000464,
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        "worst_return": -0.08448,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
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        "sufficient": true
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        "sufficient": true
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      },
      {
        "date": "2026-07-24",
        "close": 2272.5,
        "volume": 2199,
        "typical_volume": 1305.25,
        "trend": 2077.671337,
        "fair_value": 1769.395908,
        "relative_strength": 6.368459,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 70.011313,
        "energy": 69.019734,
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      },
      {
        "date": "2026-07-31",
        "close": 2302.25,
        "volume": 6793,
        "typical_volume": 1623.35,
        "trend": 2089.531114,
        "fair_value": 1773.667854,
        "relative_strength": 6.272962,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 80.684582,
        "energy": 71.016576,
        "activity_lines": [
          2278.666667,
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      },
      {
        "date": "2026-08-07",
        "close": 2328.0,
        "volume": 3192,
        "typical_volume": 1782.95,
        "trend": 2102.07923,
        "fair_value": 1778.501036,
        "relative_strength": 6.994669,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
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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."
    }
  }
}