{
  "ticker": {
    "uuid": "3a1f3d90-9ec9-407c-83db-7b1f46f06f1c",
    "symbol": "MINR",
    "name": "First Trust Indxx Future Economy Metals UCITS ETF Class A USD Acc",
    "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": 3,
    "stage_name": "Distribution",
    "phase": "3c",
    "phase_label": "Stage 3C \u00b7 Breakdown watch",
    "transition": "stage_3_to_4_watch",
    "transition_label": "Stage 3 \u2192 4 watch",
    "confidence": 69.187,
    "architecture_regime": "rotation_down",
    "architecture_regime_label": "Rotation Down",
    "architecture_modifier": "Supply rotation",
    "architecture_gate": "mixed",
    "architecture_direction": -36.387,
    "architecture_energy": 56.153,
    "architecture_maturity": 10.13,
    "architecture_confidence": 68.676,
    "architecture_tenure": "New",
    "architecture": {
      "interpretation": {
        "headline": "The Activity Line structure is rotating downward.",
        "body": "Fast Activity is weakening relative to Slow Activity and price acceptance is deteriorating. Persistent negative Trend confirmation would establish Downward Expansion."
      },
      "scores": {
        "balance": 37.21,
        "rotation_up": 17.5,
        "upward_expansion": 20.19,
        "deceleration": 44.39,
        "rotation_down": 68.26,
        "downward_expansion": 61.85
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      "activity_lines": [
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        32.194947
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      "activity_state": "Compressed",
      "activity_direction": "Expanding",
      "rotation_direction": "Weakening",
      "price_acceptance": -0.833333
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    "latest_close": 30.51,
    "trend_reference": 32.171,
    "distance_from_trend": -0.05163,
    "trend_direction": "Improving",
    "fair_value": 22.554654,
    "distance_from_fair_value": 0.352714,
    "fair_value_direction": "Weakening",
    "relative_strength": -6.713098,
    "relative_strength_direction": "Weakening",
    "price_momentum": -0.01054,
    "excess_performance": -0.181432,
    "evidence": [
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        "label": "Price vs Trend",
        "positive": false,
        "value": -0.05163,
        "read": "Below"
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      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.071147,
        "read": "Rising"
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      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.352714,
        "read": "Premium"
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      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.235244,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.067131,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
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        "value": -0.33721,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": false,
        "value": -0.01054,
        "read": "Negative"
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      {
        "label": "Volume balance",
        "positive": false,
        "value": 0.141827,
        "read": "Supply-led"
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    "volume": {
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      "relative_activity": 0.0,
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      "dry_up": 0.332881,
      "accumulation_observations": 1,
      "distribution_observations": 2
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    "risk": {
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      "annualized_volatility": 0.359478,
      "from_high_reference": -0.161352,
      "from_low_reference": 1.027243
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      "fair_value_reference": 22.554654,
      "structural_low": 27.18,
      "invalidation": "A decisive breakout above range resistance with renewed RS leadership invalidates the distribution reading; a range-low break confirms deterioration."
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        "sufficient": false
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        "horizon": "Extended",
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        "active": false
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        "trend": 30.461334,
        "fair_value": 21.909105,
        "relative_strength": 25.007167,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 74.382151,
        "energy": 60.711757,
        "activity_lines": [
          34.683,
          34.111,
          33.106453,
          32.200635
        ]
      },
      {
        "date": "2026-06-12",
        "close": 32.400002,
        "volume": 0,
        "typical_volume": 2480.9,
        "trend": 30.757167,
        "fair_value": 21.993032,
        "relative_strength": 9.513446,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 58.516261,
        "energy": 41.191252,
        "activity_lines": [
          34.011667,
          33.870728,
          33.090929,
          32.32571
        ]
      },
      {
        "date": "2026-06-19",
        "close": 34.544998,
        "volume": 0,
        "typical_volume": 2218.0,
        "trend": 31.1245,
        "fair_value": 22.092651,
        "relative_strength": 12.757348,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 62.79799,
        "energy": 41.65203,
        "activity_lines": [
          34.170333,
          34.011636,
          33.27831,
          32.570086
        ]
      },
      {
        "date": "2026-06-26",
        "close": 31.735001,
        "volume": 0,
        "typical_volume": 2042.95,
        "trend": 31.398167,
        "fair_value": 22.168575,
        "relative_strength": 5.94124,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 26.034075,
        "energy": 15.448349,
        "activity_lines": [
          33.332,
          33.621818,
          33.184143,
          32.609474
        ]
      },
      {
        "date": "2026-07-03",
        "close": 31.735001,
        "volume": 0,
        "typical_volume": 1788.0,
        "trend": 31.604667,
        "fair_value": 22.243312,
        "relative_strength": 2.081884,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 12.010451,
        "energy": 18.265418,
        "activity_lines": [
          32.639,
          33.283728,
          33.085691,
          32.631205
        ]
      },
      {
        "date": "2026-07-10",
        "close": 30.4,
        "volume": 929,
        "typical_volume": 1781.2,
        "trend": 31.765167,
        "fair_value": 22.306543,
        "relative_strength": -2.475942,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "mixed",
        "direction": -29.368025,
        "energy": 29.8664,
        "activity_lines": [
          31.709,
          32.726455,
          32.862262,
          32.553484
        ]
      },
      {
        "date": "2026-07-17",
        "close": 30.375,
        "volume": 433,
        "typical_volume": 1622.6,
        "trend": 31.893834,
        "fair_value": 22.368608,
        "relative_strength": -1.857065,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "mixed",
        "direction": -31.701618,
        "energy": 39.681573,
        "activity_lines": [
          31.113,
          32.196728,
          32.645786,
          32.463796
        ]
      },
      {
        "date": "2026-07-24",
        "close": 30.83,
        "volume": 3,
        "typical_volume": 1423.0,
        "trend": 32.010667,
        "fair_value": 22.433198,
        "relative_strength": -0.953465,
        "stage": 3,
        "regime": "rotation_down",
        "modifier": "Supply rotation",
        "gate": "mixed",
        "direction": -23.003431,
        "energy": 51.364369,
        "activity_lines": [
          30.803667,
          31.817909,
          32.493262,
          32.395162
        ]
      },
      {
        "date": "2026-07-31",
        "close": 30.51,
        "volume": 1332,
        "typical_volume": 1435.95,
        "trend": 32.112667,
        "fair_value": 22.494386,
        "relative_strength": -3.322094,
        "stage": 3,
        "regime": "rotation_down",
        "modifier": "Supply rotation",
        "gate": "mixed",
        "direction": -28.398822,
        "energy": 55.756608,
        "activity_lines": [
          30.635333,
          31.432,
          32.315167,
          32.298344
        ]
      },
      {
        "date": "2026-08-07",
        "close": 30.51,
        "volume": 0,
        "typical_volume": 1327.8,
        "trend": 32.171,
        "fair_value": 22.554654,
        "relative_strength": -6.713098,
        "stage": 3,
        "regime": "rotation_down",
        "modifier": "Supply rotation",
        "gate": "mixed",
        "direction": -36.387126,
        "energy": 56.152994,
        "activity_lines": [
          30.548667,
          31.108,
          32.137405,
          32.194947
        ]
      }
    ],
    "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."
    }
  }
}