{
  "ticker": {
    "uuid": "56c67007-cebb-437b-a7c3-3a92b9957b31",
    "symbol": "FPXU",
    "name": "First Trust US Equity Opportunities UCITS ETF Class A Accumulation",
    "exchange": "PAR",
    "country": "FR",
    "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": "^FCHI",
    "stage": 2,
    "stage_name": "Advancing",
    "phase": "2b",
    "phase_label": "Stage 2B \u00b7 Advancing",
    "transition": "stage_2_healthy",
    "transition_label": "Stage 2 trend intact",
    "confidence": 62.58,
    "architecture_regime": "deceleration",
    "architecture_regime_label": "Deceleration",
    "architecture_modifier": "Recompressing",
    "architecture_gate": "up",
    "architecture_direction": 6.497,
    "architecture_energy": 25.63,
    "architecture_maturity": 61.105,
    "architecture_confidence": 91.322,
    "architecture_tenure": "New",
    "architecture": {
      "interpretation": {
        "headline": "The upward structure remains, but its energy is decelerating.",
        "body": "Trend remains positive, but Activity or price acceptance is losing strength. This can become a healthy recompression, a re-acceleration, or a Rotation Down."
      },
      "scores": {
        "balance": 56.55,
        "rotation_up": 18.25,
        "upward_expansion": 49.05,
        "deceleration": 85.17,
        "rotation_down": 45.04,
        "downward_expansion": 29.38
      },
      "activity_lines": [
        67.984666,
        69.80309,
        69.899381,
        68.297849
      ],
      "activity_state": "Compressed",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": -0.166667
    },
    "latest_close": 67.919998,
    "trend_reference": 66.179,
    "distance_from_trend": 0.026307,
    "trend_direction": "Improving",
    "fair_value": 48.316506,
    "distance_from_fair_value": 0.405731,
    "fair_value_direction": "Weakening",
    "relative_strength": -0.014043,
    "relative_strength_direction": "Weakening",
    "price_momentum": 0.128614,
    "excess_performance": 0.075303,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.026307,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.052532,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.405731,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.129327,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.00014,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.156641,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.128614,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 1.801086,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 3218,
      "relative_activity": 0.682445,
      "balance": 1.801086,
      "dry_up": 0.737795,
      "accumulation_observations": 1,
      "distribution_observations": 2
    },
    "risk": {
      "range_context": 0.041395,
      "annualized_volatility": 0.19113,
      "from_high_reference": -0.090154,
      "from_low_reference": 0.279337
    },
    "levels": {
      "trend_reference": 66.179,
      "fair_value_reference": 48.316506,
      "structural_low": 58.0,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 7,
        "median_return": 0.018632,
        "positive_rate": 0.571429,
        "directional_follow_through": 0.571429,
        "median_excess_return": 0.025347,
        "regime_survival": 0.428571,
        "best_return": 0.143274,
        "worst_return": -0.047786,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 4,
        "median_return": 0.014957,
        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
        "median_excess_return": 0.040506,
        "regime_survival": 0.0,
        "best_return": 0.121938,
        "worst_return": -0.123879,
        "sufficient": false
      },
      {
        "horizon": "Extended",
        "sample_count": 4,
        "median_return": 0.177106,
        "positive_rate": 1.0,
        "directional_follow_through": 1.0,
        "median_excess_return": 0.158293,
        "regime_survival": 0.0,
        "best_return": 0.282889,
        "worst_return": 0.122259,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
        "sample_count": 2,
        "median_return": 0.310472,
        "positive_rate": 1.0,
        "directional_follow_through": 1.0,
        "median_excess_return": 0.223797,
        "regime_survival": 0.0,
        "best_return": 0.407848,
        "worst_return": 0.213097,
        "sufficient": false
      }
    ],
    "ledger": [
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2024-08-30",
        "end": "2024-09-13",
        "tenure": "New",
        "return": 0.025323,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
        "start": "2024-09-20",
        "end": "2024-10-04",
        "tenure": "New",
        "return": 0.031543,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2024-10-11",
        "end": "2025-01-03",
        "tenure": "Established",
        "return": 0.090823,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2025-01-10",
        "end": "2025-01-24",
        "tenure": "New",
        "return": 0.111996,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-01-31",
        "end": "2025-02-28",
        "tenure": "Developing",
        "return": -0.076719,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2025-03-07",
        "end": "2025-04-18",
        "tenure": "Developing",
        "return": -0.006258,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2025-04-25",
        "end": "2025-05-16",
        "tenure": "New",
        "return": 0.239821,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
        "start": "2025-05-23",
        "end": "2025-06-20",
        "tenure": "Developing",
        "return": 0.03405,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-06-27",
        "end": "2025-11-14",
        "tenure": "Established",
        "return": 0.107283,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2025-11-21",
        "end": "2025-12-12",
        "tenure": "New",
        "return": 0.12847,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-12-19",
        "end": "2026-02-27",
        "tenure": "Developing",
        "return": -0.005449,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2026-03-06",
        "end": "2026-04-17",
        "tenure": "Developing",
        "return": 0.081236,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2026-04-24",
        "end": "2026-07-24",
        "tenure": "Established",
        "return": 0.03647,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2026-07-31",
        "end": "2026-08-07",
        "tenure": "New",
        "return": 0.030652,
        "active": true
      }
    ],
    "chart_path": [
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        "date": "2023-08-18",
        "close": 31.459999,
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        "typical_volume": 1503.0,
        "trend": 31.584833,
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        "date": "2023-08-25",
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      },
      {
        "date": "2026-05-08",
        "close": 69.279999,
        "volume": 3087,
        "typical_volume": 1914.0,
        "trend": 61.871,
        "fair_value": 45.131859,
        "relative_strength": 15.650025,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 87.728921,
        "energy": 92.679632,
        "activity_lines": [
          67.117999,
          64.954363,
          63.366857,
          62.748903
        ]
      },
      {
        "date": "2026-05-15",
        "close": 69.139999,
        "volume": 12448,
        "typical_volume": 2531.15,
        "trend": 62.168333,
        "fair_value": 45.377949,
        "relative_strength": 17.01892,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 81.096064,
        "energy": 91.998351,
        "activity_lines": [
          68.035332,
          65.98909,
          63.981952,
          63.217871
        ]
      },
      {
        "date": "2026-05-22",
        "close": 70.699997,
        "volume": 2299,
        "typical_volume": 2409.6,
        "trend": 62.560333,
        "fair_value": 45.641346,
        "relative_strength": 16.583541,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 84.186145,
        "energy": 92.258286,
        "activity_lines": [
          69.115331,
          67.162726,
          64.716333,
          63.768301
        ]
      },
      {
        "date": "2026-05-29",
        "close": 72.150002,
        "volume": 41068,
        "typical_volume": 4393.6,
        "trend": 62.876,
        "fair_value": 45.902917,
        "relative_strength": 17.320185,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 86.047685,
        "energy": 93.311127,
        "activity_lines": [
          70.375333,
          68.410908,
          65.548238,
          64.386989
        ]
      },
      {
        "date": "2026-06-05",
        "close": 70.330002,
        "volume": 966,
        "typical_volume": 4245.75,
        "trend": 63.259,
        "fair_value": 46.150929,
        "relative_strength": 13.310318,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 67.694471,
        "energy": 82.793481,
        "activity_lines": [
          70.660667,
          69.118545,
          66.162238,
          64.867892
        ]
      },
      {
        "date": "2026-06-12",
        "close": 71.620003,
        "volume": 1394,
        "typical_volume": 4105.8,
        "trend": 63.664667,
        "fair_value": 46.39891,
        "relative_strength": 13.032217,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 73.378564,
        "energy": 79.411069,
        "activity_lines": [
          71.094001,
          69.870546,
          66.865143,
          65.407312
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      },
      {
        "date": "2026-06-19",
        "close": 74.650002,
        "volume": 918,
        "typical_volume": 4129.3,
        "trend": 64.316,
        "fair_value": 46.673269,
        "relative_strength": 16.235336,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 87.295942,
        "energy": 86.04575,
        "activity_lines": [
          72.381335,
          70.972728,
          67.810048,
          66.116043
        ]
      },
      {
        "date": "2026-06-26",
        "close": 73.669998,
        "volume": 1869,
        "typical_volume": 4189.35,
        "trend": 64.785667,
        "fair_value": 46.936763,
        "relative_strength": 14.683411,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 74.379244,
        "energy": 70.694181,
        "activity_lines": [
          72.974668,
          71.699091,
          68.598905,
          66.719527
        ]
      },
      {
        "date": "2026-07-03",
        "close": 73.440002,
        "volume": 310,
        "typical_volume": 4175.75,
        "trend": 65.130667,
        "fair_value": 47.198782,
        "relative_strength": 12.178064,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 69.215941,
        "energy": 76.074949,
        "activity_lines": [
          73.293334,
          72.24691,
          69.301619,
          67.277871
        ]
      },
      {
        "date": "2026-07-10",
        "close": 72.849998,
        "volume": 7332,
        "typical_volume": 4532.3,
        "trend": 65.486,
        "fair_value": 47.445545,
        "relative_strength": 12.956535,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 65.804536,
        "energy": 65.299442,
        "activity_lines": [
          73.329333,
          72.563637,
          69.886952,
          67.775893
        ]
      },
      {
        "date": "2026-07-17",
        "close": 68.269997,
        "volume": 3938,
        "typical_volume": 4476.1,
        "trend": 65.681667,
        "fair_value": 47.663782,
        "relative_strength": 5.560689,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 50.780322,
        "energy": 44.129218,
        "activity_lines": [
          71.670665,
          71.924909,
          69.983619,
          67.955505
        ]
      },
      {
        "date": "2026-07-24",
        "close": 69.059998,
        "volume": 4163,
        "typical_volume": 4675.55,
        "trend": 65.884,
        "fair_value": 47.885737,
        "relative_strength": 6.039689,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 41.528542,
        "energy": 26.559703,
        "activity_lines": [
          70.498665,
          71.448181,
          70.125952,
          68.173462
        ]
      },
      {
        "date": "2026-07-31",
        "close": 65.900002,
        "volume": 2597,
        "typical_volume": 4563.35,
        "trend": 66.008,
        "fair_value": 48.089231,
        "relative_strength": -0.54799,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 8.495644,
        "energy": 21.86958,
        "activity_lines": [
          68.645999,
          70.398363,
          69.929809,
          68.174494
        ]
      },
      {
        "date": "2026-08-07",
        "close": 67.919998,
        "volume": 3218,
        "typical_volume": 4715.4,
        "trend": 66.179,
        "fair_value": 48.316506,
        "relative_strength": -0.014043,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 6.497485,
        "energy": 25.630165,
        "activity_lines": [
          67.984666,
          69.80309,
          69.899381,
          68.297849
        ]
      }
    ],
    "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."
    }
  }
}