{
  "ticker": {
    "uuid": "96ac9706-08c0-4737-bd45-d1f19970393a",
    "symbol": "SMIEX",
    "name": "iShares SLI UCITS ETF (DE)",
    "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": 85.137,
    "architecture_energy": 77.965,
    "architecture_maturity": 30.585,
    "architecture_confidence": 82.815,
    "architecture_tenure": "Developing",
    "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": 3.51,
        "rotation_up": 70.05,
        "upward_expansion": 90.47,
        "deceleration": 49.58,
        "rotation_down": 21.76,
        "downward_expansion": 14.81
      },
      "activity_lines": [
        160.242666,
        158.972603,
        155.021592,
        152.137745
      ],
      "activity_state": "Wide",
      "activity_direction": "Expanding",
      "rotation_direction": "Weakening",
      "price_acceptance": 0.833333
    },
    "latest_close": 162.639999,
    "trend_reference": 149.337769,
    "distance_from_trend": 0.089075,
    "trend_direction": "Improving",
    "fair_value": 133.745859,
    "distance_from_fair_value": 0.216038,
    "fair_value_direction": "Improving",
    "relative_strength": 0.880121,
    "relative_strength_direction": "Improving",
    "price_momentum": 0.104762,
    "excess_performance": 0.021878,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.089075,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.032275,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.216038,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.099925,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.008801,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.008773,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.104762,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 2.787991,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 2908,
      "relative_activity": 0.574834,
      "balance": 2.787991,
      "dry_up": 0.627514,
      "accumulation_observations": 4,
      "distribution_observations": 1
    },
    "risk": {
      "range_context": 0.018043,
      "annualized_volatility": 0.148466,
      "from_high_reference": -0.000246,
      "from_low_reference": 0.235776
    },
    "levels": {
      "trend_reference": 149.337769,
      "fair_value_reference": 133.745859,
      "structural_low": 131.609581,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 30,
        "median_return": 0.000838,
        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
        "median_excess_return": 0.001001,
        "regime_survival": 0.7,
        "best_return": 0.07412,
        "worst_return": -0.114763,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 10,
        "median_return": 0.007084,
        "positive_rate": 0.6,
        "directional_follow_through": 0.6,
        "median_excess_return": 0.005348,
        "regime_survival": 0.2,
        "best_return": 0.04164,
        "worst_return": -0.037053,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 7,
        "median_return": 0.045179,
        "positive_rate": 0.714286,
        "directional_follow_through": 0.714286,
        "median_excess_return": 0.02482,
        "regime_survival": 0.285714,
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        "worst_return": -0.166044,
        "sufficient": true
      },
      {
        "horizon": "Full cycle",
        "sample_count": 4,
        "median_return": 0.040042,
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        "worst_return": -0.11749,
        "sufficient": false
      }
    ],
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        "label": "Deceleration",
        "color": "amber",
        "start": "2024-08-09",
        "end": "2024-08-30",
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        "active": false
      },
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        "regime": "upward_expansion",
        "label": "Upward Expansion",
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      {
        "regime": "balance",
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        "active": false
      },
      {
        "regime": "downward_expansion",
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        "active": false
      },
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        "regime": "rotation_down",
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      {
        "regime": "balance",
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        "regime": "rotation_up",
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      },
      {
        "date": "2026-05-01",
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        "typical_volume": 11298.05,
        "trend": 143.511675,
        "fair_value": 130.387657,
        "relative_strength": -0.302761,
        "stage": 3,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "up",
        "direction": 39.17529,
        "energy": 33.139792,
        "activity_lines": [
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      },
      {
        "date": "2026-05-08",
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        "typical_volume": 11230.55,
        "trend": 143.694521,
        "fair_value": 130.558158,
        "relative_strength": 0.002838,
        "stage": 3,
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        "gate": "up",
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        "energy": 29.382796,
        "activity_lines": [
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      },
      {
        "date": "2026-05-15",
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        "typical_volume": 12048.75,
        "trend": 143.915515,
        "fair_value": 130.728608,
        "relative_strength": -0.682366,
        "stage": 3,
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        "activity_lines": [
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      },
      {
        "date": "2026-05-22",
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        "typical_volume": 12163.9,
        "trend": 144.224642,
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        "stage": 3,
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        "energy": 31.650429,
        "activity_lines": [
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      },
      {
        "date": "2026-05-29",
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        "typical_volume": 12178.5,
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        "relative_strength": 0.195512,
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      },
      {
        "date": "2026-06-05",
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        "typical_volume": 12141.8,
        "trend": 145.06455,
        "fair_value": 131.347928,
        "relative_strength": 0.134041,
        "stage": 2,
        "regime": "upward_expansion",
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        "energy": 52.72912,
        "activity_lines": [
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      },
      {
        "date": "2026-06-12",
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        "trend": 145.474966,
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        "relative_strength": -0.173917,
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      },
      {
        "date": "2026-06-19",
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        "typical_volume": 12200.45,
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        "activity_lines": [
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      },
      {
        "date": "2026-06-26",
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        "volume": 175,
        "typical_volume": 11912.45,
        "trend": 146.469207,
        "fair_value": 132.071187,
        "relative_strength": 0.034715,
        "stage": 2,
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        "modifier": "Early expansion",
        "gate": "up",
        "direction": 88.206651,
        "energy": 87.948636,
        "activity_lines": [
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      },
      {
        "date": "2026-07-03",
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        "volume": 409,
        "typical_volume": 11463.4,
        "trend": 147.03478,
        "fair_value": 132.36926,
        "relative_strength": -0.110551,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
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        "direction": 90.972289,
        "energy": 95.42987,
        "activity_lines": [
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      },
      {
        "date": "2026-07-10",
        "close": 158.960007,
        "volume": 4681,
        "typical_volume": 9387.7,
        "trend": 147.576822,
        "fair_value": 132.642914,
        "relative_strength": 0.532031,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 77.783778,
        "energy": 91.218459,
        "activity_lines": [
          157.814032,
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          150.755492,
          149.098533
        ]
      },
      {
        "date": "2026-07-17",
        "close": 160.0,
        "volume": 2686,
        "typical_volume": 9301.7,
        "trend": 148.05027,
        "fair_value": 132.920894,
        "relative_strength": 0.463013,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 77.622124,
        "energy": 91.525976,
        "activity_lines": [
          158.99067,
          156.172423,
          151.914859,
          149.900029
        ]
      },
      {
        "date": "2026-07-24",
        "close": 158.119995,
        "volume": 3233,
        "typical_volume": 7334.05,
        "trend": 148.438687,
        "fair_value": 133.173774,
        "relative_strength": -0.531479,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 67.95701,
        "energy": 87.016595,
        "activity_lines": [
          159.016,
          156.970662,
          152.851972,
          150.549688
        ]
      },
      {
        "date": "2026-07-31",
        "close": 159.279999,
        "volume": 3871,
        "typical_volume": 5805.25,
        "trend": 148.866429,
        "fair_value": 133.44837,
        "relative_strength": 0.126163,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 68.53164,
        "energy": 75.131314,
        "activity_lines": [
          159.126666,
          157.759337,
          153.823496,
          151.249128
        ]
      },
      {
        "date": "2026-08-07",
        "close": 162.639999,
        "volume": 2908,
        "typical_volume": 5058.85,
        "trend": 149.337769,
        "fair_value": 133.745859,
        "relative_strength": 0.880121,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 85.137417,
        "energy": 77.965057,
        "activity_lines": [
          160.242666,
          158.972603,
          155.021592,
          152.137745
        ]
      }
    ],
    "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."
    }
  }
}