{ "ticker": { "uuid": "555feb7d-9aef-4c62-a5a7-784dbbbfc681", "symbol": "BLOK", "name": "First Trust Indxx Innovative Transaction & Process 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": 92.413, "architecture_regime": "upward_expansion", "architecture_regime_label": "Upward Expansion", "architecture_modifier": "Established expansion", "architecture_gate": "up", "architecture_direction": 74.711, "architecture_energy": 54.566, "architecture_maturity": 66.933, "architecture_confidence": 69.877, "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": 22.27, "rotation_up": 52.83, "upward_expansion": 81.76, "deceleration": 67.33, "rotation_down": 27.27, "downward_expansion": 8.42 }, "activity_lines": [ 47.204667, 46.990909, 46.388333, 45.431709 ], "activity_state": "Moderate", "activity_direction": "Contracting", "rotation_direction": "Weakening", "price_acceptance": 0.666667 }, "latest_close": 47.91, "trend_reference": 44.356333, "distance_from_trend": 0.080116, "trend_direction": "Improving", "fair_value": 35.887211, "distance_from_fair_value": 0.335016, "fair_value_direction": "Improving", "relative_strength": -3.041012, "relative_strength_direction": "Weakening", "price_momentum": 0.125573, "excess_performance": -0.045319, "evidence": [ { "label": "Price vs Trend", "positive": true, "value": 0.080116, "read": "Above" }, { "label": "Trend direction", "positive": true, "value": 0.046136, "read": "Rising" }, { "label": "Price vs current Fair Value", "positive": true, "value": 0.335016, "read": "Premium" }, { "label": "Fair Value direction", "positive": true, "value": 0.025468, "read": "Closing upward" }, { "label": "Relative Strength vs benchmark", "positive": false, "value": -0.03041, "read": "Lagging" }, { "label": "Relative strength direction", "positive": false, "value": -0.015834, "read": "Weakening" }, { "label": "Price momentum", "positive": true, "value": 0.125573, "read": "Positive" }, { "label": "Volume balance", "positive": true, "value": 4.64213, "read": "Demand-led" } ], "volume": { "latest": 15009, "relative_activity": 3.091293, "balance": 4.64213, "dry_up": 1.473971, "accumulation_observations": 3, "distribution_observations": 1 }, "risk": { "range_context": 0.023963, "annualized_volatility": 0.114373, "from_high_reference": -0.008177, "from_low_reference": 0.280331 }, "levels": { "trend_reference": 44.356333, "fair_value_reference": 35.887211, "structural_low": 40.044998, 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"upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 65.912383, "energy": 59.773801, "activity_lines": [ 46.808332, 46.688545, 45.478714, 44.633086 ] }, { "date": "2026-07-17", "close": 46.16, "volume": 9352, "typical_volume": 4657.45, "trend": 43.84, "fair_value": 35.505705, "relative_strength": -3.373952, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 50.520018, "energy": 46.953604, "activity_lines": [ 46.580666, 46.644908, 45.65519, 44.793731 ] }, { "date": "2026-07-24", "close": 46.825001, "volume": 1256, "typical_volume": 4217.0, "trend": 44.020166, "fair_value": 35.626474, "relative_strength": -1.791669, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 52.553564, "energy": 45.125571, "activity_lines": [ 46.627333, 46.698545, 45.877595, 44.986311 ] }, { "date": "2026-07-31", "close": 47.205002, "volume": 3009, "typical_volume": 4188.1, "trend": 44.191167, "fair_value": 35.753269, "relative_strength": -1.661381, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 65.899855, "energy": 47.835156, "activity_lines": [ 46.821667, 46.788818, 46.112666, 45.191785 ] }, { "date": "2026-08-07", "close": 47.91, "volume": 15009, "typical_volume": 4855.25, "trend": 44.356333, "fair_value": 35.887211, "relative_strength": -3.041012, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 74.710715, "energy": 54.565978, "activity_lines": [ 47.204667, 46.990909, 46.388333, 45.431709 ] } ], "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." } } }