{
  "ticker": {
    "uuid": "b4768502-6cd0-40ca-909b-b39029ac4475",
    "symbol": "SDJE5D",
    "name": "Invesco EURO STOXX 50 UCITS ETF (Dist)",
    "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": "2a",
    "phase_label": "Stage 2A \u00b7 Early advance",
    "transition": "stage_2_healthy",
    "transition_label": "Stage 2 trend intact",
    "confidence": 88.73,
    "architecture_regime": "upward_expansion",
    "architecture_regime_label": "Upward Expansion",
    "architecture_modifier": "Established expansion",
    "architecture_gate": "up",
    "architecture_direction": 85.813,
    "architecture_energy": 82.876,
    "architecture_maturity": 24.518,
    "architecture_confidence": 80.616,
    "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": 7.14,
        "rotation_up": 70.91,
        "upward_expansion": 93.82,
        "deceleration": 44.01,
        "rotation_down": 19.19,
        "downward_expansion": 18.15
      },
      "activity_lines": [
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        58.875738
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      "activity_state": "Wide",
      "activity_direction": "Expanding",
      "rotation_direction": "Stable",
      "price_acceptance": 0.833333
    },
    "latest_close": 62.700001,
    "trend_reference": 58.128855,
    "distance_from_trend": 0.078638,
    "trend_direction": "Improving",
    "fair_value": 49.196602,
    "distance_from_fair_value": 0.274478,
    "fair_value_direction": "Improving",
    "relative_strength": -4.648671,
    "relative_strength_direction": "Improving",
    "price_momentum": 0.079174,
    "excess_performance": -0.091718,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.078638,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.030326,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.274478,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.079749,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.046487,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.033858,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.079174,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 16.020469,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 65,
      "relative_activity": 0.00142,
      "balance": 16.020469,
      "dry_up": 0.004741,
      "accumulation_observations": 2,
      "distribution_observations": 0
    },
    "risk": {
      "range_context": 0.020472,
      "annualized_volatility": 0.159865,
      "from_high_reference": -0.003496,
      "from_low_reference": 0.227516
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    "levels": {
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      "fair_value_reference": 49.196602,
      "structural_low": 52.240002,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
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    "outcomes": [
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        "horizon": "Near term",
        "sample_count": 38,
        "median_return": 0.006492,
        "positive_rate": 0.552632,
        "directional_follow_through": 0.552632,
        "median_excess_return": -4.2e-05,
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        "worst_return": -0.110688,
        "sufficient": true
      },
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        "horizon": "Intermediate",
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        "worst_return": -0.044705,
        "sufficient": true
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        "horizon": "Extended",
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        "horizon": "Full cycle",
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        "modifier": "Balance after decline",
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      },
      {
        "date": "2026-05-01",
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      },
      {
        "date": "2026-05-08",
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      },
      {
        "date": "2026-05-15",
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        "typical_volume": 56171.85,
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        "stage": 3,
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      },
      {
        "date": "2026-05-22",
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        "typical_volume": 59470.75,
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        "gate": "up",
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        "energy": 23.581681,
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      },
      {
        "date": "2026-05-29",
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      },
      {
        "date": "2026-06-05",
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        "typical_volume": 61623.6,
        "trend": 56.561359,
        "fair_value": 47.982794,
        "relative_strength": -5.522656,
        "stage": 3,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "up",
        "direction": 61.663727,
        "energy": 51.839349,
        "activity_lines": [
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      },
      {
        "date": "2026-06-12",
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        "typical_volume": 62718.1,
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        "fair_value": 48.106801,
        "relative_strength": -6.539562,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
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        "activity_lines": [
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      },
      {
        "date": "2026-06-19",
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      },
      {
        "date": "2026-06-26",
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        "gate": "up",
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        "energy": 77.029245,
        "activity_lines": [
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      },
      {
        "date": "2026-07-03",
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        "volume": 0,
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        "fair_value": 48.51914,
        "relative_strength": -5.708397,
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      },
      {
        "date": "2026-07-10",
        "close": 59.860001,
        "volume": 39,
        "typical_volume": 58522.3,
        "trend": 57.481188,
        "fair_value": 48.64576,
        "relative_strength": -7.534871,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 65.574171,
        "energy": 76.829243,
        "activity_lines": [
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      },
      {
        "date": "2026-07-17",
        "close": 60.59,
        "volume": 257,
        "typical_volume": 56932.8,
        "trend": 57.646855,
        "fair_value": 48.777059,
        "relative_strength": -4.910333,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 66.044439,
        "energy": 69.662283,
        "activity_lines": [
          60.508667,
          60.037768,
          58.674041,
          58.146011
        ]
      },
      {
        "date": "2026-07-24",
        "close": 60.77,
        "volume": 384,
        "typical_volume": 47888.55,
        "trend": 57.818521,
        "fair_value": 48.909512,
        "relative_strength": -4.361684,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 67.745656,
        "energy": 62.642502,
        "activity_lines": [
          60.579334,
          60.291062,
          58.983395,
          58.347504
        ]
      },
      {
        "date": "2026-07-31",
        "close": 61.279999,
        "volume": 162,
        "typical_volume": 47090.25,
        "trend": 57.973855,
        "fair_value": 49.04867,
        "relative_strength": -4.13078,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 71.186012,
        "energy": 55.335031,
        "activity_lines": [
          60.826666,
          60.552448,
          59.318415,
          58.570825
        ]
      },
      {
        "date": "2026-08-07",
        "close": 62.700001,
        "volume": 65,
        "typical_volume": 45766.7,
        "trend": 58.128855,
        "fair_value": 49.196602,
        "relative_strength": -4.648671,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 85.813319,
        "energy": 82.875666,
        "activity_lines": [
          61.464667,
          61.015462,
          59.760769,
          58.875738
        ]
      }
    ],
    "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."
    }
  }
}