{ "ticker": { "uuid": "6f026418-0579-444a-a093-ada5134ca11f", "symbol": "INRG", "name": "iShares Global Clean Energy Transition UCITS ETF USD (Dist)", "exchange": "MIL", "country": "IT", "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": "FTSEMIB.MI", "stage": 3, "stage_name": "Distribution", "phase": "3a", "phase_label": "Stage 3A \u00b7 Churning", "transition": "stage_3_churning", "transition_label": "Stage 3 range intact", "confidence": 61.094, "architecture_regime": "rotation_down", "architecture_regime_label": "Rotation Down", "architecture_modifier": "Supply rotation", "architecture_gate": "mixed", "architecture_direction": -27.419, "architecture_energy": 59.885, "architecture_maturity": 6.159, "architecture_confidence": 75.838, "architecture_tenure": "New", "architecture": { "interpretation": { "headline": "The Activity Line structure is rotating downward.", "body": "Fast Activity is weakening relative to Slow Activity and price acceptance is deteriorating. Persistent negative Trend confirmation would establish Downward Expansion." }, "scores": { "balance": 34.86, "rotation_up": 14.11, "upward_expansion": 27.87, "deceleration": 49.9, "rotation_down": 69.94, "downward_expansion": 55.2 }, "activity_lines": [ 9.073533, 9.442, 9.867403, 9.781538 ], "activity_state": "Moderate", "activity_direction": "Expanding", "rotation_direction": "Weakening", "price_acceptance": -0.666667 }, "latest_close": 9.094, "trend_reference": 9.592724, "distance_from_trend": -0.05199, "trend_direction": "Improving", "fair_value": 7.565794, "distance_from_fair_value": 0.201989, "fair_value_direction": "Weakening", "relative_strength": -11.475622, "relative_strength_direction": "Weakening", "price_momentum": 0.009784, "excess_performance": -0.161107, "evidence": [ { "label": "Price vs Trend", "positive": false, "value": -0.05199, "read": "Below" }, { "label": "Trend direction", "positive": true, "value": 0.056223, "read": "Rising" }, { "label": "Price vs current Fair Value", "positive": true, "value": 0.201989, "read": "Premium" }, { "label": "Fair Value direction", "positive": false, "value": -0.162168, "read": "Moving away" }, { "label": "Relative Strength vs benchmark", "positive": false, "value": -0.114756, "read": "Lagging" }, { "label": "Relative strength direction", "positive": false, "value": -0.250057, "read": "Weakening" }, { "label": "Price momentum", "positive": true, "value": 0.009784, "read": "Positive" }, { "label": "Volume balance", "positive": true, "value": 1.699559, "read": "Demand-led" } ], "volume": { "latest": 347136, "relative_activity": 0.567253, "balance": 1.699559, "dry_up": 0.688903, "accumulation_observations": 3, "distribution_observations": 0 }, "risk": { "range_context": 0.064717, "annualized_volatility": 0.251192, "from_high_reference": -0.223399, "from_low_reference": 0.368265 }, "levels": { "trend_reference": 9.592724, "fair_value_reference": 7.565794, "structural_low": 8.487696, "invalidation": "A decisive 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"date": "2026-07-24", "close": 9.123, "volume": 299099, "typical_volume": 647551.85, "trend": 9.558176, "fair_value": 7.56191, "relative_strength": -7.824692, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "mixed", "direction": -34.242368, "energy": 41.164917, "activity_lines": [ 9.4278, 9.874491, 10.050331, 9.860813 ] }, { "date": "2026-07-31", "close": 8.809, "volume": 487956, "typical_volume": 620365.45, "trend": 9.573579, "fair_value": 7.562169, "relative_strength": -11.643057, "stage": 3, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "mixed", "direction": -40.714598, "energy": 55.963563, "activity_lines": [ 9.164133, 9.611509, 9.944313, 9.812479 ] }, { "date": "2026-08-07", "close": 9.094, "volume": 347136, "typical_volume": 611960.15, "trend": 9.592724, "fair_value": 7.565794, "relative_strength": -11.475622, "stage": 3, "regime": "rotation_down", "modifier": "Supply rotation", "gate": "mixed", "direction": -27.41886, "energy": 59.884824, "activity_lines": [ 9.073533, 9.442, 9.867403, 9.781538 ] } ], "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." } } }