{
  "ticker": {
    "uuid": "a7284a98-203d-4f9f-a0dc-08583b7ba47c",
    "symbol": "CLOU",
    "name": "Global X Cloud Computing UCITS ETF USD 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": "2c",
    "phase_label": "Stage 2C \u00b7 Late advance",
    "transition": "stage_2_healthy",
    "transition_label": "Stage 2 trend intact",
    "confidence": 96.0,
    "architecture_regime": "upward_expansion",
    "architecture_regime_label": "Upward Expansion",
    "architecture_modifier": "Early expansion",
    "architecture_gate": "up",
    "architecture_direction": 91.718,
    "architecture_energy": 90.016,
    "architecture_maturity": 28.0,
    "architecture_confidence": 80.343,
    "architecture_tenure": "New",
    "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": 19.3,
        "rotation_up": 81.26,
        "upward_expansion": 95.81,
        "deceleration": 42.31,
        "rotation_down": 11.14,
        "downward_expansion": 20.14
      },
      "activity_lines": [
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      "activity_state": "Wide",
      "activity_direction": "Expanding",
      "rotation_direction": "Improving",
      "price_acceptance": 0.833333
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    "latest_close": 11.64,
    "trend_reference": 9.0909,
    "distance_from_trend": 0.280401,
    "trend_direction": "Improving",
    "fair_value": 9.597603,
    "distance_from_fair_value": 0.212803,
    "fair_value_direction": "Improving",
    "relative_strength": 6.594806,
    "relative_strength_direction": "Improving",
    "price_momentum": 0.461394,
    "excess_performance": 0.290502,
    "evidence": [
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        "label": "Price vs Trend",
        "positive": true,
        "value": 0.280401,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.018098,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.212803,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.218156,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.065948,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.178025,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.461394,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 12.15408,
        "read": "Demand-led"
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    ],
    "volume": {
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      "relative_activity": 1.429636,
      "balance": 12.15408,
      "dry_up": 1.778758,
      "accumulation_observations": 3,
      "distribution_observations": 0
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    "risk": {
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      "annualized_volatility": 0.39784,
      "from_high_reference": -0.003595,
      "from_low_reference": 0.578733
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    "levels": {
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      "fair_value_reference": 9.597603,
      "structural_low": 7.373,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
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        "sample_count": 16,
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        "relative_strength": -20.10784,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -51.630196,
        "energy": 37.946789,
        "activity_lines": [
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      },
      {
        "date": "2026-05-08",
        "close": 9.448,
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        "typical_volume": 4714.6,
        "trend": 8.958067,
        "fair_value": 9.498846,
        "relative_strength": -11.207691,
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        "regime": "rotation_up",
        "modifier": "Structural repair",
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        "activity_lines": [
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      },
      {
        "date": "2026-05-15",
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        "typical_volume": 5141.6,
        "trend": 8.943267,
        "fair_value": 9.507647,
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        "stage": 1,
        "regime": "rotation_up",
        "modifier": "Emerging rotation",
        "gate": "mixed",
        "direction": 34.432516,
        "energy": 37.566366,
        "activity_lines": [
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      },
      {
        "date": "2026-05-22",
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        "typical_volume": 5262.75,
        "trend": 8.931833,
        "fair_value": 9.516436,
        "relative_strength": -8.282798,
        "stage": 1,
        "regime": "rotation_up",
        "modifier": "Value reclamation",
        "gate": "mixed",
        "direction": 42.140408,
        "energy": 59.599064,
        "activity_lines": [
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      },
      {
        "date": "2026-05-29",
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        "typical_volume": 5479.4,
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        "stage": 1,
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        "modifier": "Value reclamation",
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        "direction": 48.03826,
        "energy": 74.749305,
        "activity_lines": [
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      },
      {
        "date": "2026-06-05",
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        "typical_volume": 5710.95,
        "trend": 8.942,
        "fair_value": 9.534859,
        "relative_strength": -2.834948,
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        "modifier": "Value reclamation",
        "gate": "mixed",
        "direction": 54.980508,
        "energy": 82.144485,
        "activity_lines": [
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      },
      {
        "date": "2026-06-12",
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        "typical_volume": 5662.5,
        "trend": 8.935367,
        "fair_value": 9.538968,
        "relative_strength": -10.264322,
        "stage": 1,
        "regime": "rotation_up",
        "modifier": "Value reclamation",
        "gate": "mixed",
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        "energy": 73.087635,
        "activity_lines": [
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      },
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        "date": "2026-06-19",
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        "fair_value": 9.542679,
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        "modifier": "Emerging rotation",
        "gate": "mixed",
        "direction": 36.519408,
        "energy": 51.158237,
        "activity_lines": [
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      },
      {
        "date": "2026-06-26",
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        "volume": 0,
        "typical_volume": 4643.15,
        "trend": 8.918033,
        "fair_value": 9.543962,
        "relative_strength": -13.825093,
        "stage": 1,
        "regime": "rotation_up",
        "modifier": "Emerging rotation",
        "gate": "up",
        "direction": 48.100485,
        "energy": 37.729565,
        "activity_lines": [
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      },
      {
        "date": "2026-07-03",
        "close": 10.002,
        "volume": 2745,
        "typical_volume": 4487.7,
        "trend": 8.928933,
        "fair_value": 9.551513,
        "relative_strength": -8.456181,
        "stage": 1,
        "regime": "rotation_up",
        "modifier": "Value reclamation",
        "gate": "up",
        "direction": 58.785995,
        "energy": 36.37952,
        "activity_lines": [
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      },
      {
        "date": "2026-07-10",
        "close": 10.278,
        "volume": 50405,
        "typical_volume": 6951.75,
        "trend": 8.9504,
        "fair_value": 9.558994,
        "relative_strength": -5.13801,
        "stage": 1,
        "regime": "rotation_up",
        "modifier": "Value reclamation",
        "gate": "up",
        "direction": 75.778545,
        "energy": 48.560195,
        "activity_lines": [
          9.8168,
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          9.353733,
          9.099794
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      },
      {
        "date": "2026-07-17",
        "close": 10.334,
        "volume": 41389,
        "typical_volume": 8480.35,
        "trend": 8.9735,
        "fair_value": 9.56691,
        "relative_strength": -2.86467,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 74.684231,
        "energy": 65.843544,
        "activity_lines": [
          10.029467,
          9.904891,
          9.483352,
          9.189058
        ]
      },
      {
        "date": "2026-07-24",
        "close": 9.772,
        "volume": 2316,
        "typical_volume": 8449.1,
        "trend": 8.977867,
        "fair_value": 9.570167,
        "relative_strength": -7.529385,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 61.025848,
        "energy": 65.556753,
        "activity_lines": [
          10.0146,
          9.894455,
          9.547067,
          9.240574
        ]
      },
      {
        "date": "2026-07-31",
        "close": 10.634,
        "volume": 7405,
        "typical_volume": 8773.85,
        "trend": 9.022267,
        "fair_value": 9.579987,
        "relative_strength": 0.213254,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 76.707943,
        "energy": 72.343631,
        "activity_lines": [
          10.254533,
          10.033564,
          9.686543,
          9.347422
        ]
      },
      {
        "date": "2026-08-07",
        "close": 11.64,
        "volume": 12852,
        "typical_volume": 8989.7,
        "trend": 9.0909,
        "fair_value": 9.597603,
        "relative_strength": 6.594806,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 91.717622,
        "energy": 90.016234,
        "activity_lines": [
          10.7332,
          10.338582,
          9.911381,
          9.516308
        ]
      }
    ],
    "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."
    }
  }
}