{
  "ticker": {
    "uuid": "6e5ed98b-cbe5-4274-b263-c2097353de6b",
    "symbol": "IMEU",
    "name": "iShares Core MSCI Europe UCITS ETF EUR (Dist)",
    "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": 90.797,
    "architecture_energy": 93.731,
    "architecture_maturity": 37.54,
    "architecture_confidence": 80.752,
    "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": 3.33,
        "rotation_up": 79.07,
        "upward_expansion": 96.81,
        "deceleration": 42.26,
        "rotation_down": 14.98,
        "downward_expansion": 21.15
      },
      "activity_lines": [
        37.901333,
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      "activity_state": "Wide",
      "activity_direction": "Expanding",
      "rotation_direction": "Improving",
      "price_acceptance": 0.833333
    },
    "latest_close": 38.645,
    "trend_reference": 35.316596,
    "distance_from_trend": 0.094245,
    "trend_direction": "Improving",
    "fair_value": 30.398302,
    "distance_from_fair_value": 0.271288,
    "fair_value_direction": "Improving",
    "relative_strength": 2.235643,
    "relative_strength_direction": "Weakening",
    "price_momentum": 0.122359,
    "excess_performance": 0.039476,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.094245,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.039235,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.271288,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.096007,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.022356,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.000168,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.122359,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 3.518923,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 46843,
      "relative_activity": 1.670289,
      "balance": 3.518923,
      "dry_up": 1.22732,
      "accumulation_observations": 2,
      "distribution_observations": 0
    },
    "risk": {
      "range_context": 0.016032,
      "annualized_volatility": 0.141769,
      "from_high_reference": 0.0,
      "from_low_reference": 0.242257
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    "levels": {
      "trend_reference": 35.316596,
      "fair_value_reference": 30.398302,
      "structural_low": 31.42177,
      "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": 32,
        "median_return": 0.005749,
        "positive_rate": 0.625,
        "directional_follow_through": 0.625,
        "median_excess_return": 0.005977,
        "regime_survival": 0.78125,
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        "worst_return": -0.1384,
        "sufficient": true
      },
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        "horizon": "Intermediate",
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      },
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        "date": "2026-05-01",
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      },
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      },
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      },
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        "date": "2026-06-05",
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        "fair_value": 29.732567,
        "relative_strength": 3.197576,
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      },
      {
        "date": "2026-06-12",
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        "trend": 34.247173,
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        "date": "2026-06-19",
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      },
      {
        "date": "2026-06-26",
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        "trend": 34.532092,
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        "relative_strength": -0.580319,
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        "energy": 83.832908,
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      },
      {
        "date": "2026-07-03",
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        "typical_volume": 58930.35,
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        "relative_strength": -0.25908,
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        "activity_lines": [
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      },
      {
        "date": "2026-07-10",
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        "typical_volume": 47595.55,
        "trend": 34.803621,
        "fair_value": 30.088937,
        "relative_strength": 0.144733,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
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        "direction": 70.804022,
        "energy": 87.57105,
        "activity_lines": [
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      },
      {
        "date": "2026-07-17",
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        "volume": 19557,
        "typical_volume": 47975.7,
        "trend": 34.916821,
        "fair_value": 30.160298,
        "relative_strength": -0.859607,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
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        "direction": 67.028773,
        "energy": 83.857069,
        "activity_lines": [
          37.003667,
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          35.87417,
          35.411716
        ]
      },
      {
        "date": "2026-07-24",
        "close": 37.5,
        "volume": 60373,
        "typical_volume": 46793.6,
        "trend": 35.048687,
        "fair_value": 30.233922,
        "relative_strength": 0.754972,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 78.658938,
        "energy": 86.828824,
        "activity_lines": [
          37.182,
          36.9,
          36.1007,
          35.578373
        ]
      },
      {
        "date": "2026-07-31",
        "close": 37.970001,
        "volume": 10907,
        "typical_volume": 40824.95,
        "trend": 35.187341,
        "fair_value": 30.314184,
        "relative_strength": 1.854579,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 83.785827,
        "energy": 84.910018,
        "activity_lines": [
          37.474667,
          37.153,
          36.354305,
          35.766845
        ]
      },
      {
        "date": "2026-08-07",
        "close": 38.645,
        "volume": 46843,
        "typical_volume": 28044.85,
        "trend": 35.316596,
        "fair_value": 30.398302,
        "relative_strength": 2.235643,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 90.797355,
        "energy": 93.731319,
        "activity_lines": [
          37.901333,
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          35.989919
        ]
      }
    ],
    "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."
    }
  }
}