{
  "ticker": {
    "uuid": "5f94f681-da01-4a92-b512-9ebd3aef0cd6",
    "symbol": "LY12",
    "name": "Amundi Dow Jones Industrial Average UCITS ETF Dist",
    "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": "upward_expansion",
    "architecture_regime_label": "Upward Expansion",
    "architecture_modifier": "Established expansion",
    "architecture_gate": "up",
    "architecture_direction": 80.22,
    "architecture_energy": 67.526,
    "architecture_maturity": 76.516,
    "architecture_confidence": 65.147,
    "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": 10.13,
        "rotation_up": 58.16,
        "upward_expansion": 85.33,
        "deceleration": 68.5,
        "rotation_down": 27.32,
        "downward_expansion": 12.0
      },
      "activity_lines": [
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      "activity_state": "Wide",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": 0.666667
    },
    "latest_close": 473.350006,
    "trend_reference": 434.385002,
    "distance_from_trend": 0.089702,
    "trend_direction": "Improving",
    "fair_value": 383.839967,
    "distance_from_fair_value": 0.233196,
    "fair_value_direction": "Improving",
    "relative_strength": -8.377106,
    "relative_strength_direction": "Improving",
    "price_momentum": 0.12555,
    "excess_performance": -0.048697,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.089702,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.038116,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.233196,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.0849,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.083771,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.018642,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.12555,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": false,
        "value": null,
        "read": "Supply-led"
      }
    ],
    "volume": {
      "latest": 0,
      "relative_activity": 0.0,
      "balance": null,
      "dry_up": 0.0,
      "accumulation_observations": 0,
      "distribution_observations": 0
    },
    "risk": {
      "range_context": 0.020687,
      "annualized_volatility": 0.096753,
      "from_high_reference": -0.011486,
      "from_low_reference": 0.245029
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    "levels": {
      "trend_reference": 434.385002,
      "fair_value_reference": 383.839967,
      "structural_low": 397.200012,
      "invalidation": "A decisive breakout above range resistance with renewed RS leadership invalidates the distribution reading; a range-low break confirms deterioration."
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    "outcomes": [
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        "horizon": "Near term",
        "sample_count": 41,
        "median_return": 0.003769,
        "positive_rate": 0.536585,
        "directional_follow_through": 0.536585,
        "median_excess_return": -0.017034,
        "regime_survival": 0.731707,
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        "worst_return": -0.073156,
        "sufficient": true
      },
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        "horizon": "Intermediate",
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        "worst_return": -0.105445,
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        "horizon": "Extended",
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        "horizon": "Full cycle",
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        "trend": 414.227848,
        "fair_value": 370.552368,
        "relative_strength": -9.613519,
        "stage": 3,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "up",
        "direction": 49.804452,
        "energy": 41.789477,
        "activity_lines": [
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      },
      {
        "date": "2026-05-08",
        "close": 426.450012,
        "volume": 0,
        "typical_volume": 54.55,
        "trend": 415.032284,
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        "relative_strength": -10.241263,
        "stage": 3,
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        "modifier": "Balance after decline",
        "gate": "up",
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        "energy": 55.209712,
        "activity_lines": [
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      },
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        "date": "2026-05-15",
        "close": 433.049988,
        "volume": 0,
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        "trend": 416.255148,
        "fair_value": 372.220188,
        "relative_strength": -8.225391,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
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        "direction": 75.191695,
        "energy": 74.256133,
        "activity_lines": [
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      },
      {
        "date": "2026-05-22",
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        "trend": 417.510107,
        "fair_value": 373.124838,
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        "modifier": "Re-accelerating",
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        "direction": 84.46981,
        "energy": 80.904405,
        "activity_lines": [
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      },
      {
        "date": "2026-05-29",
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        "trend": 418.436081,
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        "relative_strength": -10.205094,
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        "modifier": "Re-accelerating",
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        "activity_lines": [
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      },
      {
        "date": "2026-06-05",
        "close": 450.950012,
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        "typical_volume": 51.05,
        "trend": 419.974504,
        "fair_value": 374.939003,
        "relative_strength": -7.23629,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 86.051922,
        "energy": 90.140199,
        "activity_lines": [
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      },
      {
        "date": "2026-06-12",
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        "volume": 0,
        "typical_volume": 51.05,
        "trend": 421.312371,
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        "relative_strength": -9.903136,
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        "modifier": "Re-accelerating",
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      },
      {
        "date": "2026-06-19",
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      },
      {
        "date": "2026-06-26",
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        "volume": 0,
        "typical_volume": 32.75,
        "trend": 424.627336,
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        "relative_strength": -9.406722,
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        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 82.534259,
        "energy": 92.329492,
        "activity_lines": [
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          429.964132
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      },
      {
        "date": "2026-07-03",
        "close": 468.049988,
        "volume": 0,
        "typical_volume": 29.8,
        "trend": 426.410002,
        "fair_value": 378.86457,
        "relative_strength": -9.552194,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
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        "activity_lines": [
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      },
      {
        "date": "2026-07-10",
        "close": 466.549988,
        "volume": 0,
        "typical_volume": 21.3,
        "trend": 427.981668,
        "fair_value": 379.932511,
        "relative_strength": -8.427188,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 79.685784,
        "energy": 91.49757,
        "activity_lines": [
          462.819995,
          455.926363,
          442.380953,
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      },
      {
        "date": "2026-07-17",
        "close": 465.399994,
        "volume": 0,
        "typical_volume": 15.05,
        "trend": 429.650001,
        "fair_value": 380.925266,
        "relative_strength": -6.657434,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 71.559355,
        "energy": 87.970245,
        "activity_lines": [
          464.733327,
          458.854543,
          445.576428,
          437.769355
        ]
      },
      {
        "date": "2026-07-24",
        "close": 463.600006,
        "volume": 0,
        "typical_volume": 11.4,
        "trend": 431.320001,
        "fair_value": 381.878796,
        "relative_strength": -8.061752,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 67.960901,
        "energy": 80.766457,
        "activity_lines": [
          464.96333,
          460.747272,
          448.376905,
          439.959678
        ]
      },
      {
        "date": "2026-07-31",
        "close": 460.350006,
        "volume": 0,
        "typical_volume": 3.65,
        "trend": 432.861668,
        "fair_value": 382.819581,
        "relative_strength": -8.412535,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 65.172004,
        "energy": 63.74087,
        "activity_lines": [
          463.566667,
          461.493636,
          450.654287,
          441.832582
        ]
      },
      {
        "date": "2026-08-07",
        "close": 473.350006,
        "volume": 0,
        "typical_volume": 3.65,
        "trend": 434.385002,
        "fair_value": 383.839967,
        "relative_strength": -8.377106,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 80.220022,
        "energy": 67.525807,
        "activity_lines": [
          466.420003,
          464.269092,
          453.942621,
          444.444732
        ]
      }
    ],
    "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."
    }
  }
}