{
  "ticker": {
    "uuid": "652718f7-ac92-4bf0-ac9b-954ffd0c3d29",
    "symbol": "MFE",
    "name": "Amundi Core MSCI EMU UCITS ETF Dist",
    "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": 96.0,
    "architecture_regime": "upward_expansion",
    "architecture_regime_label": "Upward Expansion",
    "architecture_modifier": "Established expansion",
    "architecture_gate": "up",
    "architecture_direction": 79.645,
    "architecture_energy": 59.564,
    "architecture_maturity": 57.093,
    "architecture_confidence": 72.591,
    "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": 13.63,
        "rotation_up": 52.82,
        "upward_expansion": 80.48,
        "deceleration": 67.42,
        "rotation_down": 27.0,
        "downward_expansion": 9.48
      },
      "activity_lines": [
        83.864665,
        83.543635,
        81.964427,
        80.426644
      ],
      "activity_state": "Wide",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": 0.5
    },
    "latest_close": 85.629997,
    "trend_reference": 78.812999,
    "distance_from_trend": 0.086496,
    "trend_direction": "Improving",
    "fair_value": 64.968315,
    "distance_from_fair_value": 0.318027,
    "fair_value_direction": "Improving",
    "relative_strength": 5.567891,
    "relative_strength_direction": "Weakening",
    "price_momentum": 0.1115,
    "excess_performance": 0.058189,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.086496,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.043186,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.318027,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.069128,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.055679,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.00857,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.1115,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": false,
        "value": 0.892375,
        "read": "Supply-led"
      }
    ],
    "volume": {
      "latest": 4373,
      "relative_activity": 0.034812,
      "balance": 0.892375,
      "dry_up": 0.125953,
      "accumulation_observations": 1,
      "distribution_observations": 1
    },
    "risk": {
      "range_context": 0.023105,
      "annualized_volatility": 0.171553,
      "from_high_reference": -0.004534,
      "from_low_reference": 0.263175
    },
    "levels": {
      "trend_reference": 78.812999,
      "fair_value_reference": 64.968315,
      "structural_low": 69.650002,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 40,
        "median_return": 0.0057,
        "positive_rate": 0.65,
        "directional_follow_through": 0.65,
        "median_excess_return": 0.004531,
        "regime_survival": 0.75,
        "best_return": 0.089354,
        "worst_return": -0.075386,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 13,
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        "positive_rate": 0.846154,
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        "regime_survival": 0.615385,
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        "worst_return": -0.046075,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 8,
        "median_return": 0.062717,
        "positive_rate": 0.875,
        "directional_follow_through": 0.875,
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        "regime_survival": 0.5,
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        "worst_return": -0.168285,
        "sufficient": true
      },
      {
        "horizon": "Full cycle",
        "sample_count": 4,
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        "worst_return": -0.120095,
        "sufficient": false
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        "active": false
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        "regime": "downward_expansion",
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        "regime": "rotation_up",
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        "regime": "deceleration",
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        "date": "2026-05-01",
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        "date": "2026-05-08",
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      },
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        "date": "2026-05-22",
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      },
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        "date": "2026-06-05",
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      },
      {
        "date": "2026-06-12",
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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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        "typical_volume": 145682.15,
        "trend": 77.664332,
        "fair_value": 64.183352,
        "relative_strength": 7.823562,
        "stage": 2,
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        "modifier": "Re-accelerating",
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      },
      {
        "date": "2026-07-17",
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        "volume": 19640,
        "typical_volume": 146117.75,
        "trend": 77.937666,
        "fair_value": 64.369318,
        "relative_strength": 6.602977,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
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        "direction": 63.79121,
        "energy": 63.804133,
        "activity_lines": [
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          79.3123
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      },
      {
        "date": "2026-07-24",
        "close": 82.949997,
        "volume": 24794,
        "typical_volume": 140881.25,
        "trend": 78.240666,
        "fair_value": 64.555786,
        "relative_strength": 6.868346,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 61.619606,
        "energy": 54.398635,
        "activity_lines": [
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      },
      {
        "date": "2026-07-31",
        "close": 83.389999,
        "volume": 14480,
        "typical_volume": 128839.95,
        "trend": 78.519332,
        "fair_value": 64.754312,
        "relative_strength": 5.489609,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 62.55204,
        "energy": 48.380034,
        "activity_lines": [
          83.084666,
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          81.376665,
          79.967891
        ]
      },
      {
        "date": "2026-08-07",
        "close": 85.629997,
        "volume": 4373,
        "typical_volume": 125616.1,
        "trend": 78.812999,
        "fair_value": 64.968315,
        "relative_strength": 5.567891,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 79.645464,
        "energy": 59.564079,
        "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."
    }
  }
}