{
  "ticker": {
    "uuid": "99b2b77e-eb02-48d3-978d-722f2a0fba3b",
    "symbol": "CAPU",
    "name": "Ossiam Shiller Barclays Cape US Sector Value TR 1C (EUR)",
    "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": 96.0,
    "architecture_regime": "upward_expansion",
    "architecture_regime_label": "Upward Expansion",
    "architecture_modifier": "Early expansion",
    "architecture_gate": "up",
    "architecture_direction": 80.946,
    "architecture_energy": 87.195,
    "architecture_maturity": 16.686,
    "architecture_confidence": 63.09,
    "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": 8.89,
        "rotation_up": 81.35,
        "upward_expansion": 95.64,
        "deceleration": 43.2,
        "rotation_down": 9.75,
        "downward_expansion": 19.97
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      "activity_lines": [
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      "activity_state": "Wide",
      "activity_direction": "Expanding",
      "rotation_direction": "Improving",
      "price_acceptance": 0.833333
    },
    "latest_close": 1508.27002,
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    "distance_from_trend": 0.058581,
    "trend_direction": "Improving",
    "fair_value": 1323.485255,
    "distance_from_fair_value": 0.13962,
    "fair_value_direction": "Improving",
    "relative_strength": -8.156073,
    "relative_strength_direction": "Improving",
    "price_momentum": 0.066714,
    "excess_performance": -0.104177,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.058581,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.018421,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.13962,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.049808,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.081561,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.020656,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.066714,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 1.297119,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 1720,
      "relative_activity": 2.100507,
      "balance": 1.297119,
      "dry_up": 1.356476,
      "accumulation_observations": 3,
      "distribution_observations": 4
    },
    "risk": {
      "range_context": 0.016622,
      "annualized_volatility": 0.094688,
      "from_high_reference": -0.006168,
      "from_low_reference": 0.132471
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    "levels": {
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      "fair_value_reference": 1323.485255,
      "structural_low": 1350.099976,
      "invalidation": "A decisive breakout above range resistance with renewed RS leadership invalidates the distribution reading; a range-low break confirms deterioration."
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    "outcomes": [
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        "horizon": "Near term",
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        "directional_follow_through": 0.585366,
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        "sufficient": true
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      },
      {
        "date": "2026-03-27",
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      },
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        "date": "2026-04-03",
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      {
        "date": "2026-04-10",
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      },
      {
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      },
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      },
      {
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      },
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      },
      {
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      },
      {
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      {
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      },
      {
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      },
      {
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      },
      {
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      {
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      },
      {
        "date": "2026-07-17",
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        "typical_volume": 782.7,
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        "fair_value": 1316.295127,
        "relative_strength": -6.494888,
        "stage": 3,
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      },
      {
        "date": "2026-07-24",
        "close": 1487.550049,
        "volume": 1005,
        "typical_volume": 770.6,
        "trend": 1418.616329,
        "fair_value": 1318.58455,
        "relative_strength": -6.602984,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 74.922312,
        "energy": 90.29565,
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      },
      {
        "date": "2026-07-31",
        "close": 1483.890015,
        "volume": 982,
        "typical_volume": 777.85,
        "trend": 1422.076998,
        "fair_value": 1320.947627,
        "relative_strength": -7.214669,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 67.434261,
        "energy": 85.957513,
        "activity_lines": [
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      },
      {
        "date": "2026-08-07",
        "close": 1508.27002,
        "volume": 1720,
        "typical_volume": 818.85,
        "trend": 1424.803333,
        "fair_value": 1323.485255,
        "relative_strength": -8.156073,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 80.945512,
        "energy": 87.194869,
        "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."
    }
  }
}