{ "ticker": { "uuid": "365d62c4-d938-4a82-a8c7-c2b01c9febab", "symbol": "EROX", "name": "State Street SPDR MSCI Europe UCITS ETF", "exchange": "MIL", "country": "IT", "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": "FTSEMIB.MI", "stage": 2, "stage_name": "Advancing", "phase": "2b", "phase_label": "Stage 2B \u00b7 Advancing", "transition": "stage_2_healthy", "transition_label": "Stage 2 trend intact", "confidence": 88.158, "architecture_regime": "upward_expansion", "architecture_regime_label": "Upward Expansion", "architecture_modifier": "Established expansion", "architecture_gate": "up", "architecture_direction": 83.698, "architecture_energy": 74.084, "architecture_maturity": 41.969, "architecture_confidence": 79.879, "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": 8.74, "rotation_up": 63.53, "upward_expansion": 87.51, "deceleration": 53.35, "rotation_down": 23.58, "downward_expansion": 14.17 }, "activity_lines": [ 413.036664, 410.51727, 403.23714, 396.922579 ], "activity_state": "Wide", "activity_direction": "Expanding", "rotation_direction": "Weakening", "price_acceptance": 0.666667 }, "latest_close": 419.549988, "trend_reference": 390.319999, "distance_from_trend": 0.074887, "trend_direction": "Improving", "fair_value": 328.584616, "distance_from_fair_value": 0.27684, "fair_value_direction": "Improving", "relative_strength": -3.913746, "relative_strength_direction": "Improving", "price_momentum": 0.096576, "excess_performance": -0.074316, "evidence": [ { "label": "Price vs Trend", "positive": true, "value": 0.074887, "read": "Above" }, { "label": "Trend direction", "positive": true, "value": 0.040585, "read": "Rising" }, { "label": "Price vs current Fair Value", "positive": true, "value": 0.27684, "read": "Premium" }, { "label": "Fair Value direction", "positive": true, "value": 0.061412, "read": "Closing upward" }, { "label": "Relative Strength vs benchmark", "positive": false, "value": -0.039137, "read": "Lagging" }, { "label": "Relative strength direction", "positive": true, "value": 0.013644, "read": "Improving" }, { "label": "Price momentum", "positive": true, "value": 0.096576, "read": "Positive" }, { "label": "Volume balance", "positive": true, "value": 1.236699, "read": "Demand-led" } ], "volume": { "latest": 2759, "relative_activity": 1.141285, "balance": 1.236699, "dry_up": 0.755238, "accumulation_observations": 2, "distribution_observations": 1 }, "risk": { "range_context": 0.0174, "annualized_volatility": 0.147678, "from_high_reference": -0.003799, "from_low_reference": 0.248289 }, "levels": { "trend_reference": 390.319999, "fair_value_reference": 328.584616, "structural_low": 348.850006, 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4578.75, "trend": 384.72, "fair_value": 325.018911, "relative_strength": -5.004418, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 66.804468, "energy": 83.881508, "activity_lines": [ 408.11333, 403.46818, 394.84714, 390.430751 ] }, { "date": "2026-07-17", "close": 407.25, "volume": 1348, "typical_volume": 4517.0, "trend": 386.143334, "fair_value": 325.880129, "relative_strength": -3.679049, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 65.282878, "energy": 80.953641, "activity_lines": [ 408.309998, 404.975453, 396.660474, 391.8843 ] }, { "date": "2026-07-24", "close": 409.549988, "volume": 2804, "typical_volume": 3760.7, "trend": 387.588333, "fair_value": 326.732693, "relative_strength": -2.880987, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 67.136469, "energy": 77.33282, "activity_lines": [ 408.963328, 406.512724, 398.638092, 393.394407 ] }, { "date": "2026-07-31", "close": 411.700012, "volume": 392, "typical_volume": 3671.6, "trend": 388.975, "fair_value": 327.643911, "relative_strength": -2.989309, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 69.378032, "energy": 60.617532, "activity_lines": [ 409.930001, 407.942726, 400.659998, 394.949999 ] }, { "date": "2026-08-07", "close": 419.549988, "volume": 2759, "typical_volume": 2417.45, "trend": 390.319999, "fair_value": 328.584616, "relative_strength": -3.913746, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 83.697939, "energy": 74.083856, "activity_lines": [ 413.036664, 410.51727, 403.23714, 396.922579 ] } ], "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." } } }