{
  "ticker": {
    "uuid": "6c97c179-73b7-4c4a-a26b-709773f859c4",
    "symbol": "XDUE",
    "name": "Xtrackers MSCI EMU UCITS ETF 3C - CHF Hedged",
    "exchange": "EBS",
    "country": "CH",
    "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": "^SSMI",
    "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": 82.791,
    "architecture_energy": 61.79,
    "architecture_maturity": 55.752,
    "architecture_confidence": 72.429,
    "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": 13.12,
        "rotation_up": 53.77,
        "upward_expansion": 80.93,
        "deceleration": 66.59,
        "rotation_down": 27.11,
        "downward_expansion": 9.93
      },
      "activity_lines": [
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        28.398524,
        27.905849
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      "activity_state": "Wide",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": 0.5
    },
    "latest_close": 29.695,
    "trend_reference": 27.4065,
    "distance_from_trend": 0.083502,
    "trend_direction": "Improving",
    "fair_value": 23.194267,
    "distance_from_fair_value": 0.280273,
    "fair_value_direction": "Improving",
    "relative_strength": 1.209006,
    "relative_strength_direction": "Weakening",
    "price_momentum": 0.103083,
    "excess_performance": 0.0202,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.083502,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.038682,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.280273,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.069324,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.01209,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.020867,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.103083,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 1.365004,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 14602,
      "relative_activity": 0.91029,
      "balance": 1.365004,
      "dry_up": 0.727244,
      "accumulation_observations": 1,
      "distribution_observations": 2
    },
    "risk": {
      "range_context": 0.020607,
      "annualized_volatility": 0.173889,
      "from_high_reference": 0.0,
      "from_low_reference": 0.24117
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    "levels": {
      "trend_reference": 27.4065,
      "fair_value_reference": 23.194267,
      "structural_low": 24.395,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
    },
    "outcomes": [
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        "horizon": "Near term",
        "sample_count": 38,
        "median_return": 0.005027,
        "positive_rate": 0.578947,
        "directional_follow_through": 0.578947,
        "median_excess_return": 0.001434,
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        "best_return": 0.085581,
        "worst_return": -0.069975,
        "sufficient": true
      },
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        "horizon": "Intermediate",
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        "directional_follow_through": 0.75,
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        "regime_survival": 0.583333,
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        "worst_return": -0.062919,
        "sufficient": true
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      {
        "horizon": "Extended",
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        "regime_survival": 0.625,
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        "worst_return": -0.170942,
        "sufficient": true
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        "horizon": "Full cycle",
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        "regime": "balance",
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        "regime": "downward_expansion",
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        "modifier": "Balance after decline",
        "gate": "up",
        "direction": 42.085426,
        "energy": 36.189137,
        "activity_lines": [
          26.905333,
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        ]
      },
      {
        "date": "2026-05-08",
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        "typical_volume": 38806.9,
        "trend": 26.160323,
        "fair_value": 22.445203,
        "relative_strength": 3.295677,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
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        "direction": 57.153893,
        "energy": 48.021244,
        "activity_lines": [
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      },
      {
        "date": "2026-05-15",
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        "fair_value": 22.491363,
        "relative_strength": 1.296182,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
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        "direction": 51.308479,
        "energy": 41.183529,
        "activity_lines": [
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        ]
      },
      {
        "date": "2026-05-22",
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        "typical_volume": 43629.8,
        "trend": 26.299833,
        "fair_value": 22.545165,
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        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 65.728364,
        "energy": 45.258021,
        "activity_lines": [
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        ]
      },
      {
        "date": "2026-05-29",
        "close": 28.075001,
        "volume": 5311,
        "typical_volume": 42729.0,
        "trend": 26.385833,
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        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
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        "direction": 69.2566,
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          26.837,
          26.685365
        ]
      },
      {
        "date": "2026-06-05",
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        "typical_volume": 41764.3,
        "trend": 26.483167,
        "fair_value": 22.655966,
        "relative_strength": 3.476748,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 65.025897,
        "energy": 64.52973,
        "activity_lines": [
          27.745,
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      },
      {
        "date": "2026-06-12",
        "close": 28.325001,
        "volume": 2920,
        "typical_volume": 40687.7,
        "trend": 26.575333,
        "fair_value": 22.710934,
        "relative_strength": 2.435628,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 73.313871,
        "energy": 75.631752,
        "activity_lines": [
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      },
      {
        "date": "2026-06-19",
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        "relative_strength": 4.217171,
        "stage": 2,
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        "modifier": "Re-accelerating",
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        "direction": 82.105991,
        "energy": 84.495841,
        "activity_lines": [
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        ]
      },
      {
        "date": "2026-06-26",
        "close": 28.59,
        "volume": 1621,
        "typical_volume": 37514.6,
        "trend": 26.817167,
        "fair_value": 22.831158,
        "relative_strength": -0.10735,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 69.76726,
        "energy": 81.435056,
        "activity_lines": [
          28.518667,
          28.101728,
          27.453,
          27.179699
        ]
      },
      {
        "date": "2026-07-03",
        "close": 29.405001,
        "volume": 1923,
        "typical_volume": 36348.4,
        "trend": 26.9405,
        "fair_value": 22.897665,
        "relative_strength": 0.914801,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 85.139394,
        "energy": 91.076218,
        "activity_lines": [
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          27.346656
        ]
      },
      {
        "date": "2026-07-10",
        "close": 28.719999,
        "volume": 12723,
        "typical_volume": 22838.2,
        "trend": 27.043833,
        "fair_value": 22.95587,
        "relative_strength": -0.108794,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 66.801406,
        "energy": 82.905097,
        "activity_lines": [
          28.885667,
          28.537909,
          27.822167,
          27.461462
        ]
      },
      {
        "date": "2026-07-17",
        "close": 28.424999,
        "volume": 18222,
        "typical_volume": 22063.35,
        "trend": 27.1265,
        "fair_value": 23.01203,
        "relative_strength": -1.8434,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 64.006984,
        "energy": 67.072858,
        "activity_lines": [
          28.759,
          28.581182,
          27.934214,
          27.55057
        ]
      },
      {
        "date": "2026-07-24",
        "close": 28.635,
        "volume": 5808,
        "typical_volume": 17947.55,
        "trend": 27.219333,
        "fair_value": 23.067793,
        "relative_strength": -0.975182,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 61.69783,
        "energy": 54.602889,
        "activity_lines": [
          28.695666,
          28.64,
          28.062548,
          27.647892
        ]
      },
      {
        "date": "2026-07-31",
        "close": 28.834999,
        "volume": 8031,
        "typical_volume": 16482.35,
        "trend": 27.312333,
        "fair_value": 23.12812,
        "relative_strength": -0.369458,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 63.033301,
        "energy": 48.112865,
        "activity_lines": [
          28.722333,
          28.703909,
          28.196809,
          27.752129
        ]
      },
      {
        "date": "2026-08-07",
        "close": 29.695,
        "volume": 14602,
        "typical_volume": 16041.05,
        "trend": 27.4065,
        "fair_value": 23.194267,
        "relative_strength": 1.209006,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 82.791033,
        "energy": 61.790401,
        "activity_lines": [
          29.019333,
          28.904545,
          28.398524,
          27.905849
        ]
      }
    ],
    "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."
    }
  }
}