{
  "ticker": {
    "uuid": "54d8615f-4932-4fc4-821b-971f838ae8a7",
    "symbol": "EEUR",
    "name": "Invesco MSCI Europe Universal Screened 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": 96.0,
    "architecture_regime": "upward_expansion",
    "architecture_regime_label": "Upward Expansion",
    "architecture_modifier": "Established expansion",
    "architecture_gate": "up",
    "architecture_direction": 86.067,
    "architecture_energy": 71.535,
    "architecture_maturity": 47.768,
    "architecture_confidence": 81.562,
    "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": 7.49,
        "rotation_up": 64.81,
        "upward_expansion": 87.67,
        "deceleration": 58.06,
        "rotation_down": 26.31,
        "downward_expansion": 12.0
      },
      "activity_lines": [
        83.090666,
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        80.998,
        79.545785
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      "activity_state": "Wide",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": 0.833333
    },
    "latest_close": 84.349998,
    "trend_reference": 78.051333,
    "distance_from_trend": 0.080699,
    "trend_direction": "Improving",
    "fair_value": 65.922179,
    "distance_from_fair_value": 0.279539,
    "fair_value_direction": "Improving",
    "relative_strength": -3.237834,
    "relative_strength_direction": "Improving",
    "price_momentum": 0.098164,
    "excess_performance": -0.072727,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.080699,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.043769,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.279539,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.068327,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.032378,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.016575,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.098164,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 3.013318,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 5242,
      "relative_activity": 1.67468,
      "balance": 3.013318,
      "dry_up": 1.679233,
      "accumulation_observations": 4,
      "distribution_observations": 2
    },
    "risk": {
      "range_context": 0.016278,
      "annualized_volatility": 0.164194,
      "from_high_reference": -0.002837,
      "from_low_reference": 0.253716
    },
    "levels": {
      "trend_reference": 78.051333,
      "fair_value_reference": 65.922179,
      "structural_low": 70.910004,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 42,
        "median_return": 0.009627,
        "positive_rate": 0.619048,
        "directional_follow_through": 0.619048,
        "median_excess_return": -0.003353,
        "regime_survival": 0.738095,
        "best_return": 0.054592,
        "worst_return": -0.047186,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 14,
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        "median_excess_return": -0.02648,
        "regime_survival": 0.571429,
        "best_return": 0.067994,
        "worst_return": -0.046115,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 8,
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        "positive_rate": 0.875,
        "directional_follow_through": 0.875,
        "median_excess_return": -0.034444,
        "regime_survival": 0.375,
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        "worst_return": -0.127167,
        "sufficient": true
      },
      {
        "horizon": "Full cycle",
        "sample_count": 4,
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        "median_excess_return": -0.054373,
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        "worst_return": -0.06789,
        "sufficient": false
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        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
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        "regime": "upward_expansion",
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      {
        "regime": "downward_expansion",
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      {
        "regime": "balance",
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        "color": "blue",
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        "date": "2026-05-01",
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        "fair_value": 63.553077,
        "relative_strength": -3.528893,
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        "regime": "rotation_up",
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        "date": "2026-05-15",
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      },
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        "date": "2026-05-22",
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        "typical_volume": 3348.95,
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        "date": "2026-06-05",
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      },
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        "date": "2026-06-26",
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      },
      {
        "date": "2026-07-03",
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      },
      {
        "date": "2026-07-10",
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        "trend": 76.819667,
        "fair_value": 65.20891,
        "relative_strength": -3.945843,
        "stage": 2,
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        "modifier": "Established expansion",
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        "direction": 69.468469,
        "energy": 87.277721,
        "activity_lines": [
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      },
      {
        "date": "2026-07-17",
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        "volume": 4472,
        "typical_volume": 2774.0,
        "trend": 77.120667,
        "fair_value": 65.381603,
        "relative_strength": -2.832839,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 67.694751,
        "energy": 81.918592,
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          82.245331,
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          79.550905,
          78.432258
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      },
      {
        "date": "2026-07-24",
        "close": 82.410004,
        "volume": 6988,
        "typical_volume": 2955.25,
        "trend": 77.432334,
        "fair_value": 65.556795,
        "relative_strength": -2.055131,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 68.506019,
        "energy": 71.267883,
        "activity_lines": [
          82.341333,
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          79.994381,
          78.773506
        ]
      },
      {
        "date": "2026-07-31",
        "close": 82.809998,
        "volume": 4323,
        "typical_volume": 3061.95,
        "trend": 77.757334,
        "fair_value": 65.734551,
        "relative_strength": -2.220422,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 71.586241,
        "energy": 65.449684,
        "activity_lines": [
          82.503333,
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          80.441,
          79.120452
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      },
      {
        "date": "2026-08-07",
        "close": 84.349998,
        "volume": 5242,
        "typical_volume": 3130.15,
        "trend": 78.051333,
        "fair_value": 65.922179,
        "relative_strength": -3.237834,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 86.067371,
        "energy": 71.535002,
        "activity_lines": [
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      }
    ],
    "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."
    }
  }
}