{
  "ticker": {
    "uuid": "9c8ffb02-c14f-4fac-9583-058d007edf81",
    "symbol": "HIUS",
    "name": "HSBC MSCI USA Islamic Screened UCITS ETF USD Acc",
    "exchange": "PAR",
    "country": "FR",
    "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": "^FCHI",
    "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": "deceleration",
    "architecture_regime_label": "Deceleration",
    "architecture_modifier": "Recompressing",
    "architecture_gate": "up",
    "architecture_direction": 63.053,
    "architecture_energy": 43.839,
    "architecture_maturity": 70.886,
    "architecture_confidence": 96,
    "architecture_tenure": "New",
    "architecture": {
      "interpretation": {
        "headline": "The upward structure remains, but its energy is decelerating.",
        "body": "Trend remains positive, but Activity or price acceptance is losing strength. This can become a healthy recompression, a re-acceleration, or a Rotation Down."
      },
      "scores": {
        "balance": 23.21,
        "rotation_up": 36.41,
        "upward_expansion": 63.81,
        "deceleration": 88.33,
        "rotation_down": 27.96,
        "downward_expansion": 25.14
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      "activity_lines": [
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      "activity_state": "Moderate",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": 0.333333
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    "latest_close": 40.4314,
    "trend_reference": 35.201547,
    "distance_from_trend": 0.148569,
    "trend_direction": "Improving",
    "fair_value": 29.176836,
    "distance_from_fair_value": 0.385736,
    "fair_value_direction": "Improving",
    "relative_strength": 13.984097,
    "relative_strength_direction": "Weakening",
    "price_momentum": 0.313834,
    "excess_performance": 0.260523,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.148569,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.086122,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.385736,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.087595,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.139841,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.037227,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.313834,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 2.674283,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 906,
      "relative_activity": 0.16312,
      "balance": 2.674283,
      "dry_up": 1.205439,
      "accumulation_observations": 2,
      "distribution_observations": 1
    },
    "risk": {
      "range_context": 0.030914,
      "annualized_volatility": 0.167734,
      "from_high_reference": -0.004239,
      "from_low_reference": 0.444309
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    "levels": {
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      "fair_value_reference": 29.176836,
      "structural_low": 30.2773,
      "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": 6,
        "median_return": -0.004863,
        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
        "median_excess_return": -0.008985,
        "regime_survival": 0.333333,
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        "worst_return": -0.107955,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 3,
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        "positive_rate": 0.666667,
        "directional_follow_through": 0.666667,
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        "regime_survival": 0.333333,
        "best_return": 0.2434,
        "worst_return": -0.242449,
        "sufficient": false
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      {
        "horizon": "Extended",
        "sample_count": 2,
        "median_return": 0.087889,
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        "median_excess_return": 0.076833,
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        "worst_return": -0.08423,
        "sufficient": false
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      {
        "horizon": "Full cycle",
        "sample_count": 1,
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        "sufficient": false
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        "end": "2025-01-10",
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        "regime": "deceleration",
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        "end": "2025-01-24",
        "tenure": "New",
        "return": -5.5e-05,
        "active": false
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      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
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        "regime": "rotation_down",
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        "active": false
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        "regime": "downward_expansion",
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        "regime": "balance",
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        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 76.81668,
        "energy": 90.427108,
        "activity_lines": [
          39.9888,
          38.974739,
          36.489916,
          35.132765
        ]
      },
      {
        "date": "2026-07-03",
        "close": 40.336399,
        "volume": 343,
        "typical_volume": 4429.45,
        "trend": 33.94005,
        "fair_value": 28.708426,
        "relative_strength": 19.210578,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 73.998909,
        "energy": 83.565853,
        "activity_lines": [
          40.1719,
          39.43034,
          37.030005,
          35.564809
        ]
      },
      {
        "date": "2026-07-10",
        "close": 39.941101,
        "volume": 4201,
        "typical_volume": 4631.25,
        "trend": 34.231647,
        "fair_value": 28.809334,
        "relative_strength": 19.727939,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 68.309241,
        "energy": 68.180645,
        "activity_lines": [
          40.152907,
          39.699409,
          37.490125,
          35.951974
        ]
      },
      {
        "date": "2026-07-17",
        "close": 38.1241,
        "volume": 13712,
        "typical_volume": 5273.5,
        "trend": 34.45836,
        "fair_value": 28.895841,
        "relative_strength": 13.759105,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 56.345357,
        "energy": 60.702209,
        "activity_lines": [
          39.490954,
          39.53108,
          37.73748,
          36.2031
        ]
      },
      {
        "date": "2026-07-24",
        "close": 38.470901,
        "volume": 10347,
        "typical_volume": 5745.4,
        "trend": 34.690937,
        "fair_value": 28.983662,
        "relative_strength": 13.79997,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 51.559502,
        "energy": 52.208385,
        "activity_lines": [
          39.0415,
          39.391602,
          37.986759,
          36.461973
        ]
      },
      {
        "date": "2026-07-31",
        "close": 38.2383,
        "volume": 1816,
        "typical_volume": 5776.7,
        "trend": 34.924697,
        "fair_value": 29.072076,
        "relative_strength": 10.9349,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 44.020922,
        "energy": 36.667355,
        "activity_lines": [
          38.6444,
          39.182764,
          38.182389,
          36.690836
        ]
      },
      {
        "date": "2026-08-07",
        "close": 40.4314,
        "volume": 906,
        "typical_volume": 5554.2,
        "trend": 35.201547,
        "fair_value": 29.176836,
        "relative_strength": 13.984097,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 63.052997,
        "energy": 43.838961,
        "activity_lines": [
          39.114147,
          39.369449,
          38.554249,
          37.046107
        ]
      }
    ],
    "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."
    }
  }
}