{ "ticker": { "uuid": "4df31542-fa45-4211-a7c0-e52b312dbd9b", "symbol": "EX42", "name": "iShares (DE) I - iShares STOXX Europe 600 Construction & Materials UCITS ETF (DE)", "exchange": "VIE", "country": "AT", "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": "^ATX", "stage": 3, "stage_name": "Distribution", "phase": "3a", "phase_label": "Stage 3A \u00b7 Churning", "transition": "stage_3_churning", "transition_label": "Stage 3 range intact", "confidence": 96.0, "architecture_regime": "rotation_down", "architecture_regime_label": "Rotation Down", "architecture_modifier": "Supply rotation", "architecture_gate": "mixed", "architecture_direction": -3.918, "architecture_energy": 21.008, "architecture_maturity": 5.01, "architecture_confidence": 36.773, "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": 55.19, "rotation_up": 20.3, "upward_expansion": 20.18, "deceleration": 53.98, "rotation_down": 54.77, "downward_expansion": 40.51 }, "activity_lines": [ 88.758668, 89.583273, 89.929572, 89.664215 ], "activity_state": "Moderate", "activity_direction": "Expanding", "rotation_direction": "Weakening", "price_acceptance": -0.166667 }, "latest_close": 90.779999, "trend_reference": 89.648001, "distance_from_trend": 0.012627, "trend_direction": "Improving", "fair_value": 77.79, "distance_from_fair_value": 0.166988, "fair_value_direction": "Weakening", "relative_strength": -16.053243, "relative_strength_direction": "Weakening", "price_momentum": -0.024919, "excess_performance": -0.199166, "evidence": [ { "label": "Price vs Trend", "positive": true, "value": 0.012627, "read": "Above" }, { "label": "Trend direction", "positive": true, "value": 0.011551, "read": "Rising" }, { "label": "Price vs current Fair Value", "positive": true, "value": 0.166988, "read": "Premium" }, { "label": "Fair Value direction", "positive": false, "value": -0.046723, "read": "Moving away" }, { "label": "Relative Strength vs benchmark", "positive": false, "value": -0.160532, "read": "Lagging" }, { "label": "Relative strength direction", "positive": false, "value": -0.051841, "read": "Weakening" }, { "label": "Price momentum", "positive": false, "value": -0.024919, "read": "Negative" }, { "label": "Volume balance", "positive": true, "value": 2.722802, "read": "Demand-led" } ], "volume": { "latest": 331, "relative_activity": 0.648447, "balance": 2.722802, "dry_up": 0.486336, "accumulation_observations": 2, "distribution_observations": 1 }, "risk": { "range_context": 0.0267, "annualized_volatility": 0.234399, "from_high_reference": -0.056145, "from_low_reference": 0.147516 }, "levels": { "trend_reference": 89.648001, "fair_value_reference": 77.79, "structural_low": 79.110001, "invalidation": "A 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90.359143, 90.102559 ] }, { "date": "2026-07-10", "close": 88.440002, "volume": 0, "typical_volume": 1030.35, "trend": 89.763667, "fair_value": 77.140449, "relative_strength": -18.078562, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 38.219971, "energy": 37.12855, "activity_lines": [ 91.334667, 91.029273, 90.235667, 90.018409 ] }, { "date": "2026-07-17", "close": 87.32, "volume": 331, "typical_volume": 997.3, "trend": 89.724334, "fair_value": 77.299103, "relative_strength": -17.07657, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 10.532264, "energy": 8.1056, "activity_lines": [ 89.908667, 90.411273, 90.040143, 89.860753 ] }, { "date": "2026-07-24", "close": 86.400002, "volume": 0, "typical_volume": 575.75, "trend": 89.657667, "fair_value": 77.441218, "relative_strength": -18.581737, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "mixed", "direction": -37.252791, "energy": 32.061849, "activity_lines": [ 88.380001, 89.703273, 89.794572, 89.64628 ] }, { "date": "2026-07-31", "close": 88.800003, "volume": 331, "typical_volume": 540.3, "trend": 89.644334, "fair_value": 77.605641, "relative_strength": -15.869281, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -24.71438, "energy": 31.996693, "activity_lines": [ 88.103335, 89.46491, 89.77881, 89.590947 ] }, { "date": "2026-08-07", "close": 90.779999, "volume": 331, "typical_volume": 510.45, "trend": 89.648001, "fair_value": 77.79, "relative_strength": -16.053243, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -3.917995, "energy": 21.007559, "activity_lines": [ 88.758668, 89.583273, 89.929572, 89.664215 ] } ], "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." } } }