{
  "ticker": {
    "uuid": "7e6af917-a7b7-4ff6-a915-cb48c62dccd2",
    "symbol": "XEOU",
    "name": "Xtrackers MSCI Europe UCITS ETF 2C - USD Hedged",
    "exchange": "LSE",
    "country": "GB",
    "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": "^FTSE",
    "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": 85.521,
    "architecture_energy": 80.591,
    "architecture_maturity": 42.303,
    "architecture_confidence": 86.189,
    "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": 8.57,
        "rotation_up": 66.2,
        "upward_expansion": 89.97,
        "deceleration": 49.85,
        "rotation_down": 22.1,
        "downward_expansion": 16.64
      },
      "activity_lines": [
        23.608,
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        23.008417,
        22.634989
      ],
      "activity_state": "Wide",
      "activity_direction": "Expanding",
      "rotation_direction": "Weakening",
      "price_acceptance": 0.666667
    },
    "latest_close": 24.01,
    "trend_reference": 22.232333,
    "distance_from_trend": 0.079959,
    "trend_direction": "Improving",
    "fair_value": 18.367849,
    "distance_from_fair_value": 0.307175,
    "fair_value_direction": "Improving",
    "relative_strength": 3.962152,
    "relative_strength_direction": "Improving",
    "price_momentum": 0.104289,
    "excess_performance": 0.053054,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.079959,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.04191,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.307175,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.065727,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.039622,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.020696,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.104289,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": false,
        "value": 0.831269,
        "read": "Supply-led"
      }
    ],
    "volume": {
      "latest": 59607,
      "relative_activity": 0.298876,
      "balance": 0.831269,
      "dry_up": 0.299427,
      "accumulation_observations": 2,
      "distribution_observations": 1
    },
    "risk": {
      "range_context": 0.01707,
      "annualized_volatility": 0.143483,
      "from_high_reference": -0.001584,
      "from_low_reference": 0.258518
    },
    "levels": {
      "trend_reference": 22.232333,
      "fair_value_reference": 18.367849,
      "structural_low": 19.91,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 39,
        "median_return": 0.00725,
        "positive_rate": 0.589744,
        "directional_follow_through": 0.589744,
        "median_excess_return": 0.001966,
        "regime_survival": 0.769231,
        "best_return": 0.081103,
        "worst_return": -0.058329,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 14,
        "median_return": 0.022667,
        "positive_rate": 0.857143,
        "directional_follow_through": 0.857143,
        "median_excess_return": 0.005264,
        "regime_survival": 0.571429,
        "best_return": 0.099669,
        "worst_return": -0.027535,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 9,
        "median_return": 0.064602,
        "positive_rate": 0.777778,
        "directional_follow_through": 0.777778,
        "median_excess_return": 0.025792,
        "regime_survival": 0.666667,
        "best_return": 0.153144,
        "worst_return": -0.108914,
        "sufficient": true
      },
      {
        "horizon": "Full cycle",
        "sample_count": 4,
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        "worst_return": -0.051348,
        "sufficient": false
      }
    ],
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        "end": "2023-10-20",
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        "return": -0.022836,
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        "regime": "downward_expansion",
        "label": "Downward Expansion",
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        "end": "2023-11-24",
        "tenure": "Developing",
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      {
        "regime": "rotation_up",
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        "regime": "upward_expansion",
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      },
      {
        "regime": "deceleration",
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        "active": false
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        "date": "2026-05-01",
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      },
      {
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      },
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        "fair_value": 18.145067,
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      },
      {
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        "volume": 52342,
        "typical_volume": 233520.1,
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        "modifier": "Re-accelerating",
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        "direction": 65.260903,
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        ]
      },
      {
        "date": "2026-07-24",
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        "volume": 93199,
        "typical_volume": 223794.1,
        "trend": 22.06425,
        "fair_value": 18.251797,
        "relative_strength": 3.046193,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 69.461388,
        "energy": 76.897758,
        "activity_lines": [
          23.316667,
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          22.729202,
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      },
      {
        "date": "2026-07-31",
        "close": 23.57,
        "volume": 33719,
        "typical_volume": 206823.85,
        "trend": 22.14875,
        "fair_value": 18.308515,
        "relative_strength": 2.460682,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 73.477101,
        "energy": 63.984169,
        "activity_lines": [
          23.405167,
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          22.514909
        ]
      },
      {
        "date": "2026-08-07",
        "close": 24.01,
        "volume": 59607,
        "typical_volume": 199436.9,
        "trend": 22.232333,
        "fair_value": 18.367849,
        "relative_strength": 3.962152,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 85.520546,
        "energy": 80.590663,
        "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."
    }
  }
}