{
  "ticker": {
    "uuid": "8f47e6bd-2882-40f4-bc56-5bb2891e207f",
    "symbol": "EX48",
    "name": "iShares (DE) I - iShares Dow Jones Global Titans 50 UCITS ETF (DE)",
    "exchange": "VIE",
    "country": "AT",
    "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": "^ATX",
    "stage": 3,
    "stage_name": "Distribution",
    "phase": "3a",
    "phase_label": "Stage 3A \u00b7 Churning",
    "transition": "stage_3_churning",
    "transition_label": "Stage 3 range intact",
    "confidence": 72.301,
    "architecture_regime": "upward_expansion",
    "architecture_regime_label": "Upward Expansion",
    "architecture_modifier": "Established expansion",
    "architecture_gate": "up",
    "architecture_direction": 80.081,
    "architecture_energy": 54.769,
    "architecture_maturity": 62.827,
    "architecture_confidence": 65.503,
    "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": 24.01,
        "rotation_up": 54.52,
        "upward_expansion": 81.05,
        "deceleration": 66.57,
        "rotation_down": 26.47,
        "downward_expansion": 7.71
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      "activity_lines": [
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      "activity_state": "Moderate",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": 0.666667
    },
    "latest_close": 114.199997,
    "trend_reference": 104.683667,
    "distance_from_trend": 0.090906,
    "trend_direction": "Improving",
    "fair_value": 85.765449,
    "distance_from_fair_value": 0.331539,
    "fair_value_direction": "Improving",
    "relative_strength": -7.870926,
    "relative_strength_direction": "Weakening",
    "price_momentum": 0.153069,
    "excess_performance": -0.021177,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.090906,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.036664,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.331539,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.004971,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.078709,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.044692,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.153069,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 2.312912,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 0,
      "relative_activity": 0.0,
      "balance": 2.312912,
      "dry_up": 1.074484,
      "accumulation_observations": 3,
      "distribution_observations": 1
    },
    "risk": {
      "range_context": 0.024505,
      "annualized_volatility": 0.142732,
      "from_high_reference": -0.004012,
      "from_low_reference": 0.2843
    },
    "levels": {
      "trend_reference": 104.683667,
      "fair_value_reference": 85.765449,
      "structural_low": 93.529999,
      "invalidation": "A decisive breakout above range resistance with renewed RS leadership invalidates the distribution reading; a range-low break confirms deterioration."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 25,
        "median_return": 0.017645,
        "positive_rate": 0.72,
        "directional_follow_through": 0.72,
        "median_excess_return": 0.001816,
        "regime_survival": 0.84,
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        "worst_return": -0.106276,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
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        "worst_return": -0.211478,
        "sufficient": true
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        "horizon": "Extended",
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        "sufficient": false
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      {
        "horizon": "Full cycle",
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        "modifier": "Early expansion",
        "gate": "up",
        "direction": 87.875217,
        "energy": 90.904356,
        "activity_lines": [
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      },
      {
        "date": "2026-05-15",
        "close": 110.459999,
        "volume": 1595,
        "typical_volume": 2336.4,
        "trend": 100.152667,
        "fair_value": 81.968269,
        "relative_strength": -1.039858,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 89.752646,
        "energy": 95.440198,
        "activity_lines": [
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          100.987269
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      },
      {
        "date": "2026-05-22",
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        "volume": 1276,
        "typical_volume": 2193.5,
        "trend": 100.595334,
        "fair_value": 82.308205,
        "relative_strength": -2.180497,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 86.617194,
        "energy": 94.537401,
        "activity_lines": [
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        ]
      },
      {
        "date": "2026-05-29",
        "close": 112.339996,
        "volume": 319,
        "typical_volume": 1963.45,
        "trend": 100.981334,
        "fair_value": 82.644231,
        "relative_strength": -4.031386,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 83.014042,
        "energy": 93.498096,
        "activity_lines": [
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          102.475785
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      },
      {
        "date": "2026-06-05",
        "close": 111.459999,
        "volume": 0,
        "typical_volume": 1902.95,
        "trend": 101.463334,
        "fair_value": 82.968654,
        "relative_strength": -3.714486,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 70.560239,
        "energy": 88.769173,
        "activity_lines": [
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      },
      {
        "date": "2026-06-12",
        "close": 108.639999,
        "volume": 319,
        "typical_volume": 1633.9,
        "trend": 101.805667,
        "fair_value": 83.277564,
        "relative_strength": -8.578241,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 67.56024,
        "energy": 76.720736,
        "activity_lines": [
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      },
      {
        "date": "2026-06-19",
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        "volume": 638,
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        "regime": "upward_expansion",
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        "activity_lines": [
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      },
      {
        "date": "2026-06-26",
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        "volume": 0,
        "typical_volume": 1307.75,
        "trend": 102.489,
        "fair_value": 83.886026,
        "relative_strength": -11.039259,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 50.883014,
        "energy": 48.112986,
        "activity_lines": [
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          104.498237
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      },
      {
        "date": "2026-07-03",
        "close": 110.459999,
        "volume": 0,
        "typical_volume": 1202.75,
        "trend": 102.823667,
        "fair_value": 84.198397,
        "relative_strength": -10.72075,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 53.790682,
        "energy": 44.111711,
        "activity_lines": [
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      },
      {
        "date": "2026-07-10",
        "close": 111.580002,
        "volume": 277,
        "typical_volume": 1065.5,
        "trend": 103.223667,
        "fair_value": 84.521859,
        "relative_strength": -8.496758,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 62.848856,
        "energy": 51.836381,
        "activity_lines": [
          110.102667,
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          107.755524,
          105.57742
        ]
      },
      {
        "date": "2026-07-17",
        "close": 110.339996,
        "volume": 2260,
        "typical_volume": 1119.1,
        "trend": 103.609667,
        "fair_value": 84.834744,
        "relative_strength": -7.606118,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 59.447788,
        "energy": 49.268442,
        "activity_lines": [
          110.321332,
          110.270908,
          108.270666,
          106.036538
        ]
      },
      {
        "date": "2026-07-24",
        "close": 109.580002,
        "volume": 0,
        "typical_volume": 935.35,
        "trend": 103.937667,
        "fair_value": 85.141667,
        "relative_strength": -9.325485,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 59.144627,
        "energy": 48.315768,
        "activity_lines": [
          110.173333,
          110.112727,
          108.661095,
          106.42172
        ]
      },
      {
        "date": "2026-07-31",
        "close": 109.720001,
        "volume": 1860,
        "typical_volume": 988.6,
        "trend": 104.277,
        "fair_value": 85.439359,
        "relative_strength": -8.976196,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 56.723898,
        "energy": 42.928267,
        "activity_lines": [
          110.104,
          109.996,
          109.014571,
          106.794774
        ]
      },
      {
        "date": "2026-08-07",
        "close": 114.199997,
        "volume": 0,
        "typical_volume": 958.6,
        "trend": 104.683667,
        "fair_value": 85.765449,
        "relative_strength": -7.870926,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 80.080953,
        "energy": 54.768656,
        "activity_lines": [
          111.391999,
          110.725818,
          109.743952,
          107.434968
        ]
      }
    ],
    "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."
    }
  }
}