{ "ticker": { "uuid": "46663e79-356f-4e67-8978-846c9ac1673d", "symbol": "TPXH", "name": "Amundi Index Solutions - Amundi Japan Topix UCITS ETF-C EUR Hedged", "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": 95.35, "architecture_regime": "upward_expansion", "architecture_regime_label": "Upward Expansion", "architecture_modifier": "Established expansion", "architecture_gate": "up", "architecture_direction": 72.173, "architecture_energy": 44.778, "architecture_maturity": 85.011, "architecture_confidence": 60.822, "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": 23.73, "rotation_up": 46.79, "upward_expansion": 75.19, "deceleration": 68.6, "rotation_down": 28.34, "downward_expansion": 10.86 }, "activity_lines": [ 614.76534, 614.218553, 605.2352, 594.695664 ], "activity_state": "Moderate", "activity_direction": "Contracting", "rotation_direction": "Weakening", "price_acceptance": 0.666667 }, "latest_close": 626.320007, "trend_reference": 581.833008, "distance_from_trend": 0.07646, "trend_direction": "Improving", "fair_value": 434.437438, "distance_from_fair_value": 0.441681, "fair_value_direction": "Improving", "relative_strength": -0.729073, "relative_strength_direction": "Weakening", "price_momentum": 0.102793, "excess_performance": -0.068099, "evidence": [ { "label": "Price vs Trend", "positive": true, "value": 0.07646, "read": "Above" }, { "label": "Trend direction", "positive": true, "value": 0.060923, "read": "Rising" }, { "label": "Price vs current Fair Value", "positive": true, "value": 0.441681, "read": "Premium" }, { "label": "Fair Value direction", "positive": true, "value": 0.011182, "read": "Closing upward" }, { "label": "Relative Strength vs benchmark", "positive": false, "value": -0.007291, "read": "Lagging" }, { "label": "Relative strength direction", "positive": false, "value": -0.047978, "read": "Weakening" }, { "label": "Price momentum", "positive": true, "value": 0.102793, "read": "Positive" }, { "label": "Volume balance", "positive": true, "value": 2.552106, "read": "Demand-led" } ], "volume": { "latest": 4598, "relative_activity": 3.069119, "balance": 2.552106, "dry_up": 1.92938, "accumulation_observations": 4, "distribution_observations": 2 }, "risk": { "range_context": 0.027478, "annualized_volatility": 0.187169, "from_high_reference": -0.005178, "from_low_reference": 0.379772 }, "levels": { "trend_reference": 581.833008, "fair_value_reference": 434.437438, 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613.892672, 612.175645, 600.045724, 589.896589 ] }, { "date": "2026-07-31", "close": 603.380005, "volume": 2811, "typical_volume": 1328.2, "trend": 579.075008, "fair_value": 432.450002, "relative_strength": -1.414998, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 48.321457, "energy": 37.280104, "activity_lines": [ 610.272673, 611.202916, 601.687914, 591.6476 ] }, { "date": "2026-08-07", "close": 626.320007, "volume": 4598, "typical_volume": 1498.15, "trend": 581.833008, "fair_value": 434.437438, "relative_strength": -0.729073, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 72.173161, "energy": 44.77766, "activity_lines": [ 614.76534, 614.218553, 605.2352, 594.695664 ] } ], "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." } } }