{ "ticker": { "uuid": "9f67b45a-c6d8-4032-9ee9-bad487699ed7", "symbol": "EMUL", "name": "iShares MSCI EMU Large Cap UCITS ETF EUR (Acc)", "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": 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": 79.616, "architecture_energy": 58.024, "architecture_maturity": 59.813, "architecture_confidence": 65.342, "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": 14.5, "rotation_up": 51.85, "upward_expansion": 80.1, "deceleration": 68.49, "rotation_down": 27.25, "downward_expansion": 9.1 }, "activity_lines": [ 78.146667, 77.884181, 76.448285, 75.046494 ], "activity_state": "Wide", "activity_direction": "Contracting", "rotation_direction": "Weakening", "price_acceptance": 0.5 }, "latest_close": 79.870003, "trend_reference": 73.625, "distance_from_trend": 0.084822, "trend_direction": "Improving", "fair_value": 61.60359, "distance_from_fair_value": 0.296515, "fair_value_direction": "Improving", "relative_strength": -3.317713, "relative_strength_direction": "Improving", "price_momentum": 0.106846, "excess_performance": -0.064046, "evidence": [ { "label": "Price vs Trend", "positive": true, "value": 0.084822, "read": "Above" }, { "label": "Trend direction", "positive": true, "value": 0.041058, "read": "Rising" }, { "label": "Price vs current Fair Value", "positive": true, "value": 0.296515, "read": "Premium" }, { "label": "Fair Value direction", "positive": true, "value": 0.074691, "read": "Closing upward" }, { "label": "Relative Strength vs benchmark", "positive": false, "value": -0.033177, "read": "Lagging" }, { "label": "Relative strength direction", "positive": true, "value": 0.024962, "read": "Improving" }, { "label": "Price momentum", "positive": true, "value": 0.106846, "read": "Positive" }, { "label": "Volume balance", "positive": true, "value": 3.210847, "read": "Demand-led" } ], "volume": { "latest": 8632, "relative_activity": 1.736891, "balance": 3.210847, "dry_up": 0.862359, "accumulation_observations": 3, "distribution_observations": 0 }, "risk": { "range_context": 0.023259, "annualized_volatility": 0.174694, "from_high_reference": -0.004611, "from_low_reference": 0.259581 }, "levels": { "trend_reference": 73.625, "fair_value_reference": 61.60359, "structural_low": 65.110001, "invalidation": 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[ 77.885333, 76.900363, 74.826333, 73.797935 ] }, { "date": "2026-07-17", "close": 76.589996, "volume": 1169, "typical_volume": 6497.85, "trend": 72.865333, "fair_value": 61.06407, "relative_strength": -4.270213, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 62.282989, "energy": 60.944028, "activity_lines": [ 77.505999, 77.033635, 75.15019, 74.05372 ] }, { "date": "2026-07-24", "close": 77.32, "volume": 6816, "typical_volume": 6744.9, "trend": 73.131667, "fair_value": 61.236058, "relative_strength": -3.10403, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 60.099343, "energy": 53.196416, "activity_lines": [ 77.385332, 77.226545, 75.531761, 74.341118 ] }, { "date": "2026-07-31", "close": 77.559998, "volume": 526, "typical_volume": 4753.2, "trend": 73.365, "fair_value": 61.411891, "relative_strength": -3.40141, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 59.046107, "energy": 45.817089, "activity_lines": [ 77.404665, 77.370726, 75.899999, 74.626817 ] }, { "date": "2026-08-07", "close": 79.870003, "volume": 8632, "typical_volume": 4969.8, "trend": 73.625, "fair_value": 61.60359, "relative_strength": -3.317713, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 79.615536, "energy": 58.023607, "activity_lines": [ 78.146667, 77.884181, 76.448285, 75.046494 ] } ], "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." } } }