{
  "ticker": {
    "uuid": "b1736af7-93bf-45b6-8f3e-7184a23d64c0",
    "symbol": "C5E",
    "name": "Amundi ETF Stoxx Europe 50 UCITS ETF",
    "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": "upward_expansion",
    "architecture_regime_label": "Upward Expansion",
    "architecture_modifier": "Re-accelerating",
    "architecture_gate": "up",
    "architecture_direction": 81.699,
    "architecture_energy": 80.657,
    "architecture_maturity": 31.45,
    "architecture_confidence": 91.103,
    "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": 8.57,
        "rotation_up": 65.75,
        "upward_expansion": 90.7,
        "deceleration": 48.89,
        "rotation_down": 21.58,
        "downward_expansion": 17.37
      },
      "activity_lines": [
        153.326669,
        152.241094,
        149.133811,
        146.71712
      ],
      "activity_state": "Wide",
      "activity_direction": "Expanding",
      "rotation_direction": "Weakening",
      "price_acceptance": 0.666667
    },
    "latest_close": 155.419998,
    "trend_reference": 144.213334,
    "distance_from_trend": 0.077709,
    "trend_direction": "Improving",
    "fair_value": 122.9554,
    "distance_from_fair_value": 0.264036,
    "fair_value_direction": "Improving",
    "relative_strength": 5.073028,
    "relative_strength_direction": "Weakening",
    "price_momentum": 0.099462,
    "excess_performance": 0.046151,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.077709,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.042114,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.264036,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.074908,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.05073,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.009584,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.099462,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 1.610242,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 20623,
      "relative_activity": 2.983522,
      "balance": 1.610242,
      "dry_up": 1.423694,
      "accumulation_observations": 3,
      "distribution_observations": 1
    },
    "risk": {
      "range_context": 0.018263,
      "annualized_volatility": 0.145164,
      "from_high_reference": -0.002439,
      "from_low_reference": 0.269149
    },
    "levels": {
      "trend_reference": 144.213334,
      "fair_value_reference": 122.9554,
      "structural_low": 129.720001,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 36,
        "median_return": 0.003659,
        "positive_rate": 0.583333,
        "directional_follow_through": 0.583333,
        "median_excess_return": 0.004126,
        "regime_survival": 0.777778,
        "best_return": 0.056498,
        "worst_return": -0.112893,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 14,
        "median_return": 0.016356,
        "positive_rate": 0.714286,
        "directional_follow_through": 0.714286,
        "median_excess_return": 0.015631,
        "regime_survival": 0.571429,
        "best_return": 0.094173,
        "worst_return": -0.017894,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 8,
        "median_return": 0.044098,
        "positive_rate": 0.625,
        "directional_follow_through": 0.625,
        "median_excess_return": 0.011594,
        "regime_survival": 0.5,
        "best_return": 0.122556,
        "worst_return": -0.06268,
        "sufficient": true
      },
      {
        "horizon": "Full cycle",
        "sample_count": 4,
        "median_return": 0.086171,
        "positive_rate": 1.0,
        "directional_follow_through": 1.0,
        "median_excess_return": 0.100575,
        "regime_survival": 0.25,
        "best_return": 0.12607,
        "worst_return": 0.016973,
        "sufficient": false
      }
    ],
    "ledger": [
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        "regime": "rotation_up",
        "label": "Rotation Up",
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        "end": "2023-12-22",
        "tenure": "New",
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        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
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      {
        "regime": "balance",
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        "tenure": "Developing",
        "return": -0.043761,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2024-11-15",
        "end": "2025-01-10",
        "tenure": "Developing",
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        "active": false
      },
      {
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        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
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        "end": "2025-05-09",
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        "return": 0.06215,
        "active": false
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        "regime": "balance",
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      {
        "regime": "deceleration",
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        "direction": 40.225847,
        "energy": 34.049936,
        "activity_lines": [
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      },
      {
        "date": "2026-05-08",
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        "typical_volume": 10008.85,
        "trend": 137.054413,
        "fair_value": 119.09572,
        "relative_strength": 6.031407,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Re-acceleration watch",
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        "energy": 42.968974,
        "activity_lines": [
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      },
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        "date": "2026-05-15",
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        "modifier": "Re-acceleration watch",
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        "energy": 27.706387,
        "activity_lines": [
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      },
      {
        "date": "2026-05-22",
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        "typical_volume": 10075.1,
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        "fair_value": 119.590977,
        "relative_strength": 8.442169,
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        "modifier": "Re-acceleration watch",
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        "energy": 35.998692,
        "activity_lines": [
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      },
      {
        "date": "2026-05-29",
        "close": 145.5,
        "volume": 23041,
        "typical_volume": 10718.0,
        "trend": 138.385333,
        "fair_value": 119.861105,
        "relative_strength": 7.265896,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
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      },
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        "date": "2026-06-05",
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        "relative_strength": 6.652779,
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        "activity_lines": [
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      },
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        "date": "2026-06-12",
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      },
      {
        "date": "2026-06-26",
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        "fair_value": 121.019951,
        "relative_strength": 7.023152,
        "stage": 2,
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        "gate": "up",
        "direction": 75.584275,
        "energy": 80.638598,
        "activity_lines": [
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      },
      {
        "date": "2026-07-03",
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        "volume": 144,
        "typical_volume": 9020.65,
        "trend": 141.410666,
        "fair_value": 121.36681,
        "relative_strength": 7.857067,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 86.716916,
        "energy": 90.168712,
        "activity_lines": [
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      },
      {
        "date": "2026-07-10",
        "close": 150.880005,
        "volume": 3597,
        "typical_volume": 9031.05,
        "trend": 142.019333,
        "fair_value": 121.677323,
        "relative_strength": 7.70972,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 66.921542,
        "energy": 84.066581,
        "activity_lines": [
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      },
      {
        "date": "2026-07-17",
        "close": 151.100006,
        "volume": 1821,
        "typical_volume": 8872.35,
        "trend": 142.573334,
        "fair_value": 121.983733,
        "relative_strength": 7.573706,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 65.286714,
        "energy": 81.160322,
        "activity_lines": [
          151.309338,
          149.757457,
          146.442478,
          144.683399
        ]
      },
      {
        "date": "2026-07-24",
        "close": 152.440002,
        "volume": 4584,
        "typical_volume": 7087.5,
        "trend": 143.160001,
        "fair_value": 122.290656,
        "relative_strength": 7.789893,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 70.244414,
        "energy": 78.983705,
        "activity_lines": [
          151.778671,
          150.54873,
          147.294287,
          145.319958
        ]
      },
      {
        "date": "2026-07-31",
        "close": 153.100006,
        "volume": 12336,
        "typical_volume": 6386.2,
        "trend": 143.704001,
        "fair_value": 122.61899,
        "relative_strength": 6.242019,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 70.674594,
        "energy": 65.026993,
        "activity_lines": [
          152.270671,
          151.252367,
          148.139812,
          145.961249
        ]
      },
      {
        "date": "2026-08-07",
        "close": 155.419998,
        "volume": 20623,
        "typical_volume": 6912.3,
        "trend": 144.213334,
        "fair_value": 122.9554,
        "relative_strength": 5.073028,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 81.699192,
        "energy": 80.657354,
        "activity_lines": [
          153.326669,
          152.241094,
          149.133811,
          146.71712
        ]
      }
    ],
    "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."
    }
  }
}