{
  "ticker": {
    "uuid": "33b19b66-7643-491b-b3c0-40ad8b14b6e9",
    "symbol": "ESEH",
    "name": "BNP Paribas Easy S&P 500 UCITS ETF EUR H",
    "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": 91.288,
    "architecture_regime": "upward_expansion",
    "architecture_regime_label": "Upward Expansion",
    "architecture_modifier": "Established expansion",
    "architecture_gate": "up",
    "architecture_direction": 82.076,
    "architecture_energy": 56.091,
    "architecture_maturity": 62.938,
    "architecture_confidence": 71.001,
    "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": 32.04,
        "rotation_up": 51.23,
        "upward_expansion": 79.17,
        "deceleration": 68.83,
        "rotation_down": 27.47,
        "downward_expansion": 8.17
      },
      "activity_lines": [
        24.135966,
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        23.834007,
        23.398871
      ],
      "activity_state": "Moderate",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": 0.5
    },
    "latest_close": 24.761499,
    "trend_reference": 22.918733,
    "distance_from_trend": 0.080404,
    "trend_direction": "Improving",
    "fair_value": 19.269841,
    "distance_from_fair_value": 0.284987,
    "fair_value_direction": "Improving",
    "relative_strength": 3.35822,
    "relative_strength_direction": "Weakening",
    "price_momentum": 0.114008,
    "excess_performance": 0.060697,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.080404,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.029839,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.284987,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.005183,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.033582,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.057316,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.114008,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 2.568058,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 233157,
      "relative_activity": 1.439425,
      "balance": 2.568058,
      "dry_up": 0.907042,
      "accumulation_observations": 4,
      "distribution_observations": 0
    },
    "risk": {
      "range_context": 0.01988,
      "annualized_volatility": 0.132814,
      "from_high_reference": -0.004199,
      "from_low_reference": 0.209648
    },
    "levels": {
      "trend_reference": 22.918733,
      "fair_value_reference": 19.269841,
      "structural_low": 20.469999,
      "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": 0.013658,
        "positive_rate": 0.710526,
        "directional_follow_through": 0.710526,
        "median_excess_return": 0.012985,
        "regime_survival": 0.789474,
        "best_return": 0.063494,
        "worst_return": -0.086221,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 13,
        "median_return": 0.026297,
        "positive_rate": 0.769231,
        "directional_follow_through": 0.769231,
        "median_excess_return": 0.024483,
        "regime_survival": 0.615385,
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        "worst_return": -0.07185,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 8,
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        "positive_rate": 0.75,
        "directional_follow_through": 0.75,
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        "regime_survival": 0.625,
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        "worst_return": -0.164977,
        "sufficient": true
      },
      {
        "horizon": "Full cycle",
        "sample_count": 4,
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        "worst_return": -0.104111,
        "sufficient": false
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        "label": "Deceleration",
        "color": "amber",
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        "end": "2024-08-30",
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        "regime": "upward_expansion",
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        "regime": "balance",
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        "regime": "rotation_down",
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        "regime": "downward_expansion",
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        "date": "2026-05-08",
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      },
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        "date": "2026-07-03",
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      },
      {
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        "typical_volume": 184183.55,
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        ]
      },
      {
        "date": "2026-07-24",
        "close": 23.7855,
        "volume": 125075,
        "typical_volume": 177963.55,
        "trend": 22.786137,
        "fair_value": 19.14989,
        "relative_strength": 3.543133,
        "stage": 2,
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        "modifier": "Established expansion",
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        "energy": 46.631851,
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        ]
      },
      {
        "date": "2026-07-31",
        "close": 23.7351,
        "volume": 77875,
        "typical_volume": 171367.35,
        "trend": 22.841027,
        "fair_value": 19.205852,
        "relative_strength": 1.582349,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 45.954547,
        "energy": 38.40276,
        "activity_lines": [
          23.852453,
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      },
      {
        "date": "2026-08-07",
        "close": 24.761499,
        "volume": 233157,
        "typical_volume": 161979.25,
        "trend": 22.918733,
        "fair_value": 19.269841,
        "relative_strength": 3.35822,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 82.076224,
        "energy": 56.091283,
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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."
    }
  }
}