{
  "ticker": {
    "uuid": "33b55e9c-c945-4c95-a6b7-226c0679482d",
    "symbol": "IAEA",
    "name": "iShares AEX UCITS ETF",
    "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": 82.569,
    "architecture_energy": 73.814,
    "architecture_maturity": 68.905,
    "architecture_confidence": 79.083,
    "architecture_tenure": "Extended",
    "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": 0.0,
        "rotation_up": 72.49,
        "upward_expansion": 91.73,
        "deceleration": 48.35,
        "rotation_down": 20.49,
        "downward_expansion": 13.73
      },
      "activity_lines": [
        10.984133,
        10.890473,
        10.65651,
        10.454976
      ],
      "activity_state": "Wide",
      "activity_direction": "Expanding",
      "rotation_direction": "Weakening",
      "price_acceptance": 1.0
    },
    "latest_close": 11.132,
    "trend_reference": 10.228667,
    "distance_from_trend": 0.088314,
    "trend_direction": "Improving",
    "fair_value": 8.792187,
    "distance_from_fair_value": 0.266124,
    "fair_value_direction": "Improving",
    "relative_strength": 1.289973,
    "relative_strength_direction": "Improving",
    "price_momentum": 0.13615,
    "excess_performance": 0.019488,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.088314,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.049227,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.266124,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.078119,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.0129,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.003717,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.13615,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 1.240397,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 178731,
      "relative_activity": 0.6702,
      "balance": 1.240397,
      "dry_up": 0.569802,
      "accumulation_observations": 0,
      "distribution_observations": 2
    },
    "risk": {
      "range_context": 0.020799,
      "annualized_volatility": 0.14031,
      "from_high_reference": -0.004115,
      "from_low_reference": 0.280423
    },
    "levels": {
      "trend_reference": 10.228667,
      "fair_value_reference": 8.792187,
      "structural_low": 9.315,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 32,
        "median_return": 0.008525,
        "positive_rate": 0.625,
        "directional_follow_through": 0.625,
        "median_excess_return": 0.001274,
        "regime_survival": 0.78125,
        "best_return": 0.071192,
        "worst_return": -0.094809,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 11,
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        "positive_rate": 0.636364,
        "directional_follow_through": 0.636364,
        "median_excess_return": 0.00627,
        "regime_survival": 0.545455,
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        "worst_return": -0.027426,
        "sufficient": true
      },
      {
        "horizon": "Extended",
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        "positive_rate": 0.666667,
        "directional_follow_through": 0.666667,
        "median_excess_return": 0.013064,
        "regime_survival": 0.5,
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        "worst_return": -0.039176,
        "sufficient": true
      },
      {
        "horizon": "Full cycle",
        "sample_count": 3,
        "median_return": 0.107593,
        "positive_rate": 1.0,
        "directional_follow_through": 1.0,
        "median_excess_return": 0.025313,
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        "worst_return": 0.071702,
        "sufficient": false
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        "regime": "balance",
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        "regime": "downward_expansion",
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        "regime": "deceleration",
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        "active": false
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        "regime": "downward_expansion",
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        "date": "2026-05-01",
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        "date": "2026-07-03",
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      },
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      },
      {
        "date": "2026-07-17",
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        "typical_volume": 395214.7,
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        "fair_value": 8.720885,
        "relative_strength": 0.849265,
        "stage": 2,
        "regime": "upward_expansion",
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        "gate": "up",
        "direction": 73.235799,
        "energy": 73.500708,
        "activity_lines": [
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          10.288286
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      },
      {
        "date": "2026-07-24",
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        "typical_volume": 368088.85,
        "trend": 10.134567,
        "fair_value": 8.74302,
        "relative_strength": 1.025051,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
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        "direction": 70.412684,
        "energy": 70.649183,
        "activity_lines": [
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        ]
      },
      {
        "date": "2026-07-31",
        "close": 10.97,
        "volume": 126965,
        "typical_volume": 332429.0,
        "trend": 10.182433,
        "fair_value": 8.766917,
        "relative_strength": 0.973942,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 73.47959,
        "energy": 68.949707,
        "activity_lines": [
          10.898667,
          10.816655,
          10.580786,
          10.393714
        ]
      },
      {
        "date": "2026-08-07",
        "close": 11.132,
        "volume": 178731,
        "typical_volume": 266683.15,
        "trend": 10.228667,
        "fair_value": 8.792187,
        "relative_strength": 1.289973,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 82.568918,
        "energy": 73.814291,
        "activity_lines": [
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          10.65651,
          10.454976
        ]
      }
    ],
    "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."
    }
  }
}