{
  "ticker": {
    "uuid": "aa78086d-7734-4fb2-9b97-e09e802c5092",
    "symbol": "ANXU",
    "name": "Amundi Index Solutions - Amundi Nasdaq-100 Swap 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": 93.219,
    "architecture_regime": "deceleration",
    "architecture_regime_label": "Deceleration",
    "architecture_modifier": "Recompressing",
    "architecture_gate": "up",
    "architecture_direction": 48.529,
    "architecture_energy": 30.841,
    "architecture_maturity": 68.584,
    "architecture_confidence": 89.94,
    "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": 34.65,
        "rotation_up": 29.08,
        "upward_expansion": 58.92,
        "deceleration": 88.32,
        "rotation_down": 31.97,
        "downward_expansion": 20.26
      },
      "activity_lines": [
        330.603337,
        333.460001,
        332.370477,
        322.766344
      ],
      "activity_state": "Moderate",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": 0.333333
    },
    "latest_close": 340.450012,
    "trend_reference": 310.969999,
    "distance_from_trend": 0.0948,
    "trend_direction": "Improving",
    "fair_value": 243.769801,
    "distance_from_fair_value": 0.396605,
    "fair_value_direction": "Weakening",
    "relative_strength": 6.437456,
    "relative_strength_direction": "Weakening",
    "price_momentum": 0.1954,
    "excess_performance": 0.142089,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.0948,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.054076,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.396605,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.052054,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.064375,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.114526,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.1954,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 1.049051,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 10710,
      "relative_activity": 1.964201,
      "balance": 1.049051,
      "dry_up": 2.222151,
      "accumulation_observations": 3,
      "distribution_observations": 2
    },
    "risk": {
      "range_context": 0.032593,
      "annualized_volatility": 0.19782,
      "from_high_reference": -0.024918,
      "from_low_reference": 0.294487
    },
    "levels": {
      "trend_reference": 310.969999,
      "fair_value_reference": 243.769801,
      "structural_low": 264.5,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 10,
        "median_return": 0.006894,
        "positive_rate": 0.7,
        "directional_follow_through": 0.7,
        "median_excess_return": 0.010572,
        "regime_survival": 0.4,
        "best_return": 0.106773,
        "worst_return": -0.083628,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 7,
        "median_return": 0.073225,
        "positive_rate": 0.714286,
        "directional_follow_through": 0.714286,
        "median_excess_return": 0.034104,
        "regime_survival": 0.285714,
        "best_return": 0.147909,
        "worst_return": -0.074837,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 4,
        "median_return": 0.180864,
        "positive_rate": 0.75,
        "directional_follow_through": 0.75,
        "median_excess_return": 0.153576,
        "regime_survival": 0.0,
        "best_return": 0.216983,
        "worst_return": -0.025669,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
        "sample_count": 3,
        "median_return": 0.200848,
        "positive_rate": 0.666667,
        "directional_follow_through": 0.666667,
        "median_excess_return": 0.149027,
        "regime_survival": 0.333333,
        "best_return": 0.338891,
        "worst_return": -0.24524,
        "sufficient": false
      }
    ],
    "ledger": [
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2024-10-11",
        "end": "2025-02-28",
        "tenure": "Established",
        "return": 0.022357,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-03-07",
        "end": "2025-03-14",
        "tenure": "New",
        "return": -0.011499,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2025-03-21",
        "end": "2025-04-11",
        "tenure": "New",
        "return": -0.068973,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2025-04-18",
        "end": "2025-05-23",
        "tenure": "Developing",
        "return": 0.147115,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
        "start": "2025-05-30",
        "end": "2025-07-11",
        "tenure": "Developing",
        "return": 0.071649,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-07-18",
        "end": "2025-11-21",
        "tenure": "Established",
        "return": 0.045955,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2025-11-28",
        "end": "2025-12-05",
        "tenure": "New",
        "return": 0.011558,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-12-12",
        "end": "2026-02-13",
        "tenure": "Developing",
        "return": -0.016826,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2026-02-20",
        "end": "2026-03-13",
        "tenure": "New",
        "return": -0.019116,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2026-03-20",
        "end": "2026-04-03",
        "tenure": "New",
        "return": -0.004351,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2026-04-10",
        "end": "2026-04-10",
        "tenure": "New",
        "return": 0.0,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
        "start": "2026-04-17",
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        "tenure": "New",
        "return": 0.022586,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2026-05-08",
        "end": "2026-07-17",
        "tenure": "Developing",
        "return": -0.016521,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2026-07-24",
        "end": "2026-08-07",
        "tenure": "New",
        "return": 0.0477,
        "active": true
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      },
      {
        "date": "2026-05-01",
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        "volume": 13065,
        "typical_volume": 3602.5,
        "trend": 288.13363,
        "fair_value": 228.631083,
        "relative_strength": 11.306754,
        "stage": 2,
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      },
      {
        "date": "2026-05-08",
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        "typical_volume": 3698.25,
        "trend": 289.845297,
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        "relative_strength": 17.890089,
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        "activity_lines": [
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      },
      {
        "date": "2026-05-15",
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        "typical_volume": 3871.2,
        "trend": 291.640297,
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        "activity_lines": [
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      },
      {
        "date": "2026-05-22",
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        "typical_volume": 3892.2,
        "trend": 293.291667,
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      },
      {
        "date": "2026-05-29",
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      },
      {
        "date": "2026-06-05",
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        "typical_volume": 3826.9,
        "trend": 296.945,
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        "relative_strength": 16.10346,
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        "activity_lines": [
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      },
      {
        "date": "2026-06-12",
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        "stage": 2,
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      },
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        "date": "2026-06-19",
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      },
      {
        "date": "2026-06-26",
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        "trend": 302.648334,
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        "relative_strength": 10.894605,
        "stage": 2,
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        "modifier": "Early expansion",
        "gate": "up",
        "direction": 63.968625,
        "energy": 63.382747,
        "activity_lines": [
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      },
      {
        "date": "2026-07-03",
        "close": 339.899994,
        "volume": 3314,
        "typical_volume": 3447.15,
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        "fair_value": 238.765954,
        "relative_strength": 10.338366,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
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        "activity_lines": [
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      },
      {
        "date": "2026-07-10",
        "close": 340.950012,
        "volume": 5814,
        "typical_volume": 3650.85,
        "trend": 305.961667,
        "fair_value": 239.816531,
        "relative_strength": 12.466895,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 52.536521,
        "energy": 56.093295,
        "activity_lines": [
          340.413334,
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      },
      {
        "date": "2026-07-17",
        "close": 327.399994,
        "volume": 10769,
        "typical_volume": 4112.35,
        "trend": 307.226666,
        "fair_value": 240.79166,
        "relative_strength": 7.680127,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 46.90612,
        "energy": 42.954087,
        "activity_lines": [
          335.929999,
          338.427272,
          329.313094,
          318.766236
        ]
      },
      {
        "date": "2026-07-24",
        "close": 324.950012,
        "volume": 3985,
        "typical_volume": 4168.85,
        "trend": 308.305,
        "fair_value": 241.732878,
        "relative_strength": 6.173467,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 41.957206,
        "energy": 30.839704,
        "activity_lines": [
          331.503337,
          335.813638,
          330.144762,
          319.909677
        ]
      },
      {
        "date": "2026-07-31",
        "close": 321.549988,
        "volume": 23002,
        "typical_volume": 5029.05,
        "trend": 309.416666,
        "fair_value": 242.67448,
        "relative_strength": 3.186881,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 32.253907,
        "energy": 27.648617,
        "activity_lines": [
          327.436666,
          332.757272,
          330.45738,
          320.764193
        ]
      },
      {
        "date": "2026-08-07",
        "close": 340.450012,
        "volume": 10710,
        "typical_volume": 5452.6,
        "trend": 310.969999,
        "fair_value": 243.769801,
        "relative_strength": 6.437456,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 48.529374,
        "energy": 30.8412,
        "activity_lines": [
          330.603337,
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          332.370477,
          322.766344
        ]
      }
    ],
    "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."
    }
  }
}