{
  "ticker": {
    "uuid": "728deacc-be32-4f60-be49-5689509cbe46",
    "symbol": "XDEQ",
    "name": "Xtrackers MSCI World Quality UCITS ETF 1C",
    "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": 2,
    "stage_name": "Advancing",
    "phase": "2b",
    "phase_label": "Stage 2B \u00b7 Advancing",
    "transition": "stage_2_healthy",
    "transition_label": "Stage 2 trend intact",
    "confidence": 94.019,
    "architecture_regime": "upward_expansion",
    "architecture_regime_label": "Upward Expansion",
    "architecture_modifier": "Established expansion",
    "architecture_gate": "up",
    "architecture_direction": 86.08,
    "architecture_energy": 71.071,
    "architecture_maturity": 78.76,
    "architecture_confidence": 78.886,
    "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": 4.72,
        "rotation_up": 63.18,
        "upward_expansion": 87.67,
        "deceleration": 65.59,
        "rotation_down": 27.57,
        "downward_expansion": 12.0
      },
      "activity_lines": [
        78.693331,
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        76.924951,
        75.476429
      ],
      "activity_state": "Wide",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": 0.833333
    },
    "latest_close": 79.889999,
    "trend_reference": 73.830999,
    "distance_from_trend": 0.082066,
    "trend_direction": "Improving",
    "fair_value": 64.625513,
    "distance_from_fair_value": 0.236199,
    "fair_value_direction": "Improving",
    "relative_strength": -3.658876,
    "relative_strength_direction": "Improving",
    "price_momentum": 0.123313,
    "excess_performance": -0.047579,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.082066,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.041893,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.236199,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.053743,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.036589,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.007974,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.123313,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 1.721822,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 41835,
      "relative_activity": 1.754629,
      "balance": 1.721822,
      "dry_up": 1.11138,
      "accumulation_observations": 3,
      "distribution_observations": 1
    },
    "risk": {
      "range_context": 0.015993,
      "annualized_volatility": 0.097058,
      "from_high_reference": -0.00523,
      "from_low_reference": 0.235349
    },
    "levels": {
      "trend_reference": 73.830999,
      "fair_value_reference": 64.625513,
      "structural_low": 67.559998,
      "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": 0.012306,
        "positive_rate": 0.657895,
        "directional_follow_through": 0.657895,
        "median_excess_return": -0.002383,
        "regime_survival": 0.815789,
        "best_return": 0.055673,
        "worst_return": -0.088805,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 13,
        "median_return": 0.023627,
        "positive_rate": 0.692308,
        "directional_follow_through": 0.692308,
        "median_excess_return": 0.003867,
        "regime_survival": 0.538462,
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        "worst_return": -0.121716,
        "sufficient": true
      },
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        "horizon": "Extended",
        "sample_count": 7,
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        "directional_follow_through": 0.714286,
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        "worst_return": -0.084941,
        "sufficient": true
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      {
        "horizon": "Full cycle",
        "sample_count": 3,
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        "worst_return": -0.007685,
        "sufficient": false
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        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
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        "regime": "rotation_down",
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        "active": false
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        "regime": "downward_expansion",
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        "end": "2025-06-13",
        "tenure": "Developing",
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        "active": false
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        "regime": "balance",
        "label": "Balance",
        "color": "blue",
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        "end": "2025-08-15",
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        "active": false
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      },
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        "date": "2026-05-01",
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        "relative_strength": -3.700626,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
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      },
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        "date": "2026-05-08",
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      },
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        "date": "2026-05-15",
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      },
      {
        "date": "2026-05-22",
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        "typical_volume": 37691.75,
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      },
      {
        "date": "2026-05-29",
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        "typical_volume": 37578.1,
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      },
      {
        "date": "2026-06-05",
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        "typical_volume": 34154.45,
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        "relative_strength": -2.375791,
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        "regime": "upward_expansion",
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      },
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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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        "typical_volume": 25596.65,
        "trend": 72.340333,
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      },
      {
        "date": "2026-07-10",
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        "trend": 72.665333,
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        "relative_strength": -3.663191,
        "stage": 2,
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      },
      {
        "date": "2026-07-17",
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        "volume": 15016,
        "typical_volume": 25136.8,
        "trend": 72.971333,
        "fair_value": 64.093974,
        "relative_strength": -2.550296,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 71.324997,
        "energy": 87.380491,
        "activity_lines": [
          78.199332,
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          75.689237,
          74.433268
        ]
      },
      {
        "date": "2026-07-24",
        "close": 78.489998,
        "volume": 28336,
        "typical_volume": 25167.3,
        "trend": 73.276666,
        "fair_value": 64.265897,
        "relative_strength": -2.051573,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 71.793715,
        "energy": 83.916659,
        "activity_lines": [
          78.383998,
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          76.11857,
          74.789311
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      },
      {
        "date": "2026-07-31",
        "close": 77.589996,
        "volume": 20806,
        "typical_volume": 23683.6,
        "trend": 73.552999,
        "fair_value": 64.438013,
        "relative_strength": -3.735941,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 66.877173,
        "energy": 65.03107,
        "activity_lines": [
          78.175997,
          77.85218,
          76.429046,
          75.06759
        ]
      },
      {
        "date": "2026-08-07",
        "close": 79.889999,
        "volume": 41835,
        "typical_volume": 23842.65,
        "trend": 73.830999,
        "fair_value": 64.625513,
        "relative_strength": -3.658876,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 86.079872,
        "energy": 71.071415,
        "activity_lines": [
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          75.476429
        ]
      }
    ],
    "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."
    }
  }
}