{
  "ticker": {
    "uuid": "b236a18f-be25-4ec7-ad63-49457105afe7",
    "symbol": "LCEU",
    "name": "BNP Paribas Easy Low Carbon 100 Europe PAB",
    "exchange": "GER",
    "country": "DE",
    "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": "^GDAXI",
    "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": 84.563,
    "architecture_energy": 77.835,
    "architecture_maturity": 31.869,
    "architecture_confidence": 87.268,
    "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": 0.17,
        "rotation_up": 71.02,
        "upward_expansion": 93.58,
        "deceleration": 45.63,
        "rotation_down": 22.14,
        "downward_expansion": 15.58
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      "activity_lines": [
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      "activity_state": "Wide",
      "activity_direction": "Expanding",
      "rotation_direction": "Weakening",
      "price_acceptance": 1.0
    },
    "latest_close": 305.899994,
    "trend_reference": 284.878334,
    "distance_from_trend": 0.073792,
    "trend_direction": "Improving",
    "fair_value": 257.434615,
    "distance_from_fair_value": 0.188263,
    "fair_value_direction": "Improving",
    "relative_strength": 2.303061,
    "relative_strength_direction": "Weakening",
    "price_momentum": 0.092695,
    "excess_performance": 0.028055,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.073792,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.034379,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.188263,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.070554,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.023031,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.016741,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.092695,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 2.281582,
        "read": "Demand-led"
      }
    ],
    "volume": {
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      "relative_activity": 0.611896,
      "balance": 2.281582,
      "dry_up": 0.817614,
      "accumulation_observations": 1,
      "distribution_observations": 1
    },
    "risk": {
      "range_context": 0.017502,
      "annualized_volatility": 0.146776,
      "from_high_reference": -0.003745,
      "from_low_reference": 0.201492
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    "levels": {
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      "fair_value_reference": 257.434615,
      "structural_low": 254.649994,
      "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": 31,
        "median_return": 0.006961,
        "positive_rate": 0.548387,
        "directional_follow_through": 0.548387,
        "median_excess_return": -0.00147,
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        "best_return": 0.07507,
        "worst_return": -0.092557,
        "sufficient": true
      },
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        "horizon": "Intermediate",
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        "worst_return": -0.038784,
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        "horizon": "Extended",
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      },
      {
        "date": "2026-05-01",
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        "trend": 272.728333,
        "fair_value": 251.711218,
        "relative_strength": 3.563146,
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      },
      {
        "date": "2026-05-08",
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      },
      {
        "date": "2026-05-15",
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        "typical_volume": 2727.4,
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        "relative_strength": 4.263815,
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        "activity_lines": [
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      },
      {
        "date": "2026-05-22",
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        "trend": 274.606666,
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      },
      {
        "date": "2026-05-29",
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      },
      {
        "date": "2026-06-05",
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        "trend": 276.291667,
        "fair_value": 253.424359,
        "relative_strength": 3.891102,
        "stage": 2,
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      {
        "date": "2026-06-12",
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        "date": "2026-06-19",
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      },
      {
        "date": "2026-06-26",
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        "activity_lines": [
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      },
      {
        "date": "2026-07-03",
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        "relative_strength": 4.472022,
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      },
      {
        "date": "2026-07-10",
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        "typical_volume": 2111.9,
        "trend": 281.333334,
        "fair_value": 255.605769,
        "relative_strength": 5.679018,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 71.142081,
        "energy": 86.590428,
        "activity_lines": [
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      },
      {
        "date": "2026-07-17",
        "close": 298.899994,
        "volume": 1306,
        "typical_volume": 2144.6,
        "trend": 282.218334,
        "fair_value": 256.040064,
        "relative_strength": 6.51376,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 68.710579,
        "energy": 85.61536,
        "activity_lines": [
          298.839998,
          295.46182,
          289.144764,
          285.86269
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      },
      {
        "date": "2026-07-24",
        "close": 299.799988,
        "volume": 1211,
        "typical_volume": 2105.5,
        "trend": 283.145,
        "fair_value": 256.461859,
        "relative_strength": 5.471901,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 69.69693,
        "energy": 84.496189,
        "activity_lines": [
          299.496661,
          296.858181,
          290.698572,
          286.99699
        ]
      },
      {
        "date": "2026-07-31",
        "close": 300.600006,
        "volume": 1528,
        "typical_volume": 1716.85,
        "trend": 284.010001,
        "fair_value": 256.930128,
        "relative_strength": 3.398607,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 70.066618,
        "energy": 68.312044,
        "activity_lines": [
          299.943331,
          298.008181,
          292.213811,
          288.123119
        ]
      },
      {
        "date": "2026-08-07",
        "close": 305.899994,
        "volume": 931,
        "typical_volume": 1521.5,
        "trend": 284.878334,
        "fair_value": 257.434615,
        "relative_strength": 2.303061,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 84.562796,
        "energy": 77.834776,
        "activity_lines": [
          301.849996,
          299.882725,
          294.091906,
          289.535377
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      }
    ],
    "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."
    }
  }
}