{
  "ticker": {
    "uuid": "b84c125b-fba0-495c-9b5a-c27126a34dda",
    "symbol": "PARI",
    "name": "Franklin STOXX Europe 600 Paris Aligned Climate UCITS ETF",
    "exchange": "LSE",
    "country": "GB",
    "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": "^FTSE",
    "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": 83.473,
    "architecture_energy": 70.547,
    "architecture_maturity": 32.921,
    "architecture_confidence": 88.25,
    "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": 12.08,
        "rotation_up": 60.18,
        "upward_expansion": 83.36,
        "deceleration": 58.94,
        "rotation_down": 24.34,
        "downward_expansion": 12.36
      },
      "activity_lines": [
        43.406667,
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        42.36,
        41.725656
      ],
      "activity_state": "Wide",
      "activity_direction": "Stable",
      "rotation_direction": "Weakening",
      "price_acceptance": 0.5
    },
    "latest_close": 44.102501,
    "trend_reference": 41.136917,
    "distance_from_trend": 0.072091,
    "trend_direction": "Improving",
    "fair_value": 37.769856,
    "distance_from_fair_value": 0.167664,
    "fair_value_direction": "Improving",
    "relative_strength": 1.861353,
    "relative_strength_direction": "Improving",
    "price_momentum": 0.081407,
    "excess_performance": 0.030172,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.072091,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.032715,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.167664,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.07623,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.018614,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.041192,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.081407,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 4.313043,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 2302,
      "relative_activity": 9.785335,
      "balance": 4.313043,
      "dry_up": 2.906482,
      "accumulation_observations": 2,
      "distribution_observations": 1
    },
    "risk": {
      "range_context": 0.0165,
      "annualized_volatility": 0.159349,
      "from_high_reference": -0.003558,
      "from_low_reference": 0.203014
    },
    "levels": {
      "trend_reference": 41.136917,
      "fair_value_reference": 37.769856,
      "structural_low": 37.535,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 23,
        "median_return": 0.009903,
        "positive_rate": 0.565217,
        "directional_follow_through": 0.565217,
        "median_excess_return": 0.00066,
        "regime_survival": 0.695652,
        "best_return": 0.073799,
        "worst_return": -0.095275,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
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        "positive_rate": 0.666667,
        "directional_follow_through": 0.666667,
        "median_excess_return": -0.002613,
        "regime_survival": 0.333333,
        "best_return": 0.069112,
        "worst_return": -0.047979,
        "sufficient": true
      },
      {
        "horizon": "Extended",
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        "median_return": 0.04857,
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        "regime_survival": 0.2,
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        "worst_return": -0.070014,
        "sufficient": true
      },
      {
        "horizon": "Full cycle",
        "sample_count": 3,
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        "worst_return": 0.022235,
        "sufficient": false
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        "regime": "deceleration",
        "label": "Deceleration",
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        "tenure": "New",
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        "regime": "rotation_down",
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        "regime": "balance",
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        "regime": "downward_expansion",
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        "modifier": "Recompressing",
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        "energy": 36.043494,
        "activity_lines": [
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      },
      {
        "date": "2026-05-08",
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        "typical_volume": 3373.75,
        "trend": 39.615417,
        "fair_value": 37.024695,
        "relative_strength": -2.257881,
        "stage": 3,
        "regime": "deceleration",
        "modifier": "Re-acceleration watch",
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        "energy": 33.03036,
        "activity_lines": [
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      },
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        "date": "2026-05-15",
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        "trend": 39.652833,
        "fair_value": 37.061715,
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        "modifier": "Momentum cooling",
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        "energy": 21.243455,
        "activity_lines": [
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        ]
      },
      {
        "date": "2026-05-22",
        "close": 41.442501,
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        "typical_volume": 307.05,
        "trend": 39.726917,
        "fair_value": 37.111939,
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        "energy": 36.139738,
        "activity_lines": [
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      },
      {
        "date": "2026-05-29",
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        "typical_volume": 306.7,
        "trend": 39.83375,
        "fair_value": 37.16407,
        "relative_strength": -0.220307,
        "stage": 2,
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        "energy": 47.381152,
        "activity_lines": [
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      },
      {
        "date": "2026-06-05",
        "close": 41.294998,
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        "trend": 39.94725,
        "fair_value": 37.215513,
        "relative_strength": -0.470219,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
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        "direction": 58.38168,
        "energy": 57.152539,
        "activity_lines": [
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      },
      {
        "date": "2026-06-12",
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        "volume": 230,
        "typical_volume": 313.65,
        "trend": 40.06625,
        "fair_value": 37.268157,
        "relative_strength": 0.730597,
        "stage": 2,
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        "activity_lines": [
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      },
      {
        "date": "2026-06-19",
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        "relative_strength": 2.665332,
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        "activity_lines": [
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      },
      {
        "date": "2026-06-26",
        "close": 42.645,
        "volume": 11,
        "typical_volume": 314.1,
        "trend": 40.344667,
        "fair_value": 37.386923,
        "relative_strength": 1.835849,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 77.853419,
        "energy": 83.46649,
        "activity_lines": [
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          40.708882
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      },
      {
        "date": "2026-07-03",
        "close": 43.787498,
        "volume": 0,
        "typical_volume": 228.05,
        "trend": 40.50775,
        "fair_value": 37.459679,
        "relative_strength": 3.000359,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 90.657887,
        "energy": 94.816295,
        "activity_lines": [
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          40.931
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      },
      {
        "date": "2026-07-10",
        "close": 42.932499,
        "volume": 690,
        "typical_volume": 227.85,
        "trend": 40.651416,
        "fair_value": 37.518942,
        "relative_strength": 2.822186,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 67.473521,
        "energy": 86.523041,
        "activity_lines": [
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          42.404,
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          41.087435
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      },
      {
        "date": "2026-07-17",
        "close": 42.967499,
        "volume": 433,
        "typical_volume": 249.5,
        "trend": 40.77875,
        "fair_value": 37.577997,
        "relative_strength": 1.978145,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 66.140161,
        "energy": 85.340346,
        "activity_lines": [
          43.044999,
          42.604045,
          41.669262,
          41.23686
        ]
      },
      {
        "date": "2026-07-24",
        "close": 43.02,
        "volume": 0,
        "typical_volume": 248.75,
        "trend": 40.9065,
        "fair_value": 37.635625,
        "relative_strength": 0.873345,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 64.642779,
        "energy": 82.863041,
        "activity_lines": [
          43.065833,
          42.767136,
          41.876881,
          41.381457
        ]
      },
      {
        "date": "2026-07-31",
        "close": 43.165001,
        "volume": 0,
        "typical_volume": 185.7,
        "trend": 41.025917,
        "fair_value": 37.700256,
        "relative_strength": -0.006634,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 65.341396,
        "energy": 62.024607,
        "activity_lines": [
          43.097333,
          42.900182,
          42.083559,
          41.527166
        ]
      },
      {
        "date": "2026-08-07",
        "close": 44.102501,
        "volume": 2302,
        "typical_volume": 235.25,
        "trend": 41.136917,
        "fair_value": 37.769856,
        "relative_strength": 1.861353,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 83.473048,
        "energy": 70.546792,
        "activity_lines": [
          43.406667,
          43.172364,
          42.36,
          41.725656
        ]
      }
    ],
    "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."
    }
  }
}