{
  "ticker": {
    "uuid": "ca20aad0-f674-44ef-a7d8-9b65bb947e32",
    "symbol": "STPU",
    "name": "Amundi US Curve steepening 2-10Y UCITS ETF 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": 1,
    "stage_name": "Basing",
    "phase": "1c",
    "phase_label": "Stage 1C \u00b7 Breakout watch",
    "transition": "stage_1_to_2_watch",
    "transition_label": "Stage 1 \u2192 2 watch",
    "confidence": 82.622,
    "architecture_regime": "upward_expansion",
    "architecture_regime_label": "Upward Expansion",
    "architecture_modifier": "Early expansion",
    "architecture_gate": "up",
    "architecture_direction": 65.472,
    "architecture_energy": 76.427,
    "architecture_maturity": 12.942,
    "architecture_confidence": 75.868,
    "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": 15.83,
        "rotation_up": 73.68,
        "upward_expansion": 93.92,
        "deceleration": 42.33,
        "rotation_down": 11.43,
        "downward_expansion": 18.25
      },
      "activity_lines": [
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        85.283557
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      "activity_state": "Wide",
      "activity_direction": "Expanding",
      "rotation_direction": "Improving",
      "price_acceptance": 0.833333
    },
    "latest_close": 86.080002,
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    "distance_from_trend": 0.011774,
    "trend_direction": "Improving",
    "fair_value": 86.974715,
    "distance_from_fair_value": -0.010287,
    "fair_value_direction": "Improving",
    "relative_strength": -5.744017,
    "relative_strength_direction": "Weakening",
    "price_momentum": 0.015597,
    "excess_performance": -0.037714,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.011774,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.002318,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": false,
        "value": -0.010287,
        "read": "Below anchor"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.01813,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.05744,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.029881,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.015597,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 37.419643,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 0,
      "relative_activity": 0.0,
      "balance": 37.419643,
      "dry_up": 1.278395,
      "accumulation_observations": 3,
      "distribution_observations": 0
    },
    "risk": {
      "range_context": 0.005673,
      "annualized_volatility": 0.05507,
      "from_high_reference": -0.129137,
      "from_low_reference": 0.031738
    },
    "levels": {
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      "fair_value_reference": 86.974715,
      "structural_low": 83.5,
      "invalidation": "A renewed decline below the structural range low, widening the discount to current Fair Value while Trend falls, weakens the base diagnosis."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 19,
        "median_return": -0.001681,
        "positive_rate": 0.473684,
        "directional_follow_through": 0.473684,
        "median_excess_return": -0.004618,
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        "best_return": 0.043194,
        "worst_return": -0.06807,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
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        "sufficient": true
      },
      {
        "horizon": "Extended",
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      {
        "horizon": "Full cycle",
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        "regime": "deceleration",
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        "regime": "downward_expansion",
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        "date": "2026-05-01",
        "close": 84.147003,
        "volume": 8,
        "typical_volume": 427.45,
        "trend": 85.374483,
        "fair_value": 86.794228,
        "relative_strength": -3.149801,
        "stage": 1,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -62.035783,
        "energy": 54.82058,
        "activity_lines": [
          84.297799,
          84.725527,
          84.780328,
          84.926463
        ]
      },
      {
        "date": "2026-05-08",
        "close": 84.318001,
        "volume": 32,
        "typical_volume": 424.2,
        "trend": 85.34645,
        "fair_value": 86.784112,
        "relative_strength": -2.755938,
        "stage": 1,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -58.536405,
        "energy": 60.03015,
        "activity_lines": [
          84.255467,
          84.618345,
          84.732952,
          84.858303
        ]
      },
      {
        "date": "2026-05-15",
        "close": 84.964996,
        "volume": 1022,
        "typical_volume": 475.3,
        "trend": 85.348816,
        "fair_value": 86.775773,
        "relative_strength": 0.063178,
        "stage": 1,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -45.39319,
        "energy": 29.54181,
        "activity_lines": [
          84.471932,
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          84.74939,
          84.833693
        ]
      },
      {
        "date": "2026-05-22",
        "close": 84.987,
        "volume": 282,
        "typical_volume": 480.75,
        "trend": 84.8869,
        "fair_value": 86.771446,
        "relative_strength": -1.771941,
        "stage": 1,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -27.230052,
        "energy": 14.396732,
        "activity_lines": [
          84.695733,
          84.632126,
          84.767038,
          84.81035
        ]
      },
      {
        "date": "2026-05-29",
        "close": 84.413002,
        "volume": 98,
        "typical_volume": 485.05,
        "trend": 84.881533,
        "fair_value": 86.765478,
        "relative_strength": -3.07785,
        "stage": 1,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -36.296384,
        "energy": 15.114788,
        "activity_lines": [
          84.646067,
          84.567836,
          84.728571,
          84.779776
        ]
      },
      {
        "date": "2026-06-05",
        "close": 84.987999,
        "volume": 1,
        "typical_volume": 480.25,
        "trend": 84.8653,
        "fair_value": 86.766644,
        "relative_strength": -2.699101,
        "stage": 1,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -18.150423,
        "energy": 13.262809,
        "activity_lines": [
          84.786733,
          84.629509,
          84.749319,
          84.786645
        ]
      },
      {
        "date": "2026-06-12",
        "close": 85.267998,
        "volume": 0,
        "typical_volume": 299.25,
        "trend": 84.879966,
        "fair_value": 86.783458,
        "relative_strength": -3.771886,
        "stage": 1,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "mixed",
        "direction": 10.488364,
        "energy": 13.739838,
        "activity_lines": [
          84.964666,
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      },
      {
        "date": "2026-06-19",
        "close": 84.959999,
        "volume": 0,
        "typical_volume": 266.75,
        "trend": 84.839533,
        "fair_value": 86.797529,
        "relative_strength": -4.706558,
        "stage": 1,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "mixed",
        "direction": 9.279192,
        "energy": 13.623166,
        "activity_lines": [
          84.976599,
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        ]
      },
      {
        "date": "2026-06-26",
        "close": 85.730003,
        "volume": 50,
        "typical_volume": 260.1,
        "trend": 84.860767,
        "fair_value": 86.821478,
        "relative_strength": -3.285248,
        "stage": 1,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "up",
        "direction": 70.189419,
        "energy": 56.493186,
        "activity_lines": [
          85.245534,
          85.016618,
          84.906562,
          84.875238
        ]
      },
      {
        "date": "2026-07-03",
        "close": 85.459999,
        "volume": 0,
        "typical_volume": 219.85,
        "trend": 84.8735,
        "fair_value": 86.83901,
        "relative_strength": -4.839071,
        "stage": 1,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 60.521008,
        "energy": 62.605645,
        "activity_lines": [
          85.374933,
          85.133545,
          84.964485,
          84.913899
        ]
      },
      {
        "date": "2026-07-10",
        "close": 86.040001,
        "volume": 1353,
        "typical_volume": 285.7,
        "trend": 84.9146,
        "fair_value": 86.87501,
        "relative_strength": -2.160364,
        "stage": 1,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 76.186458,
        "energy": 71.330655,
        "activity_lines": [
          85.627867,
          85.336527,
          85.070014,
          84.989157
        ]
      },
      {
        "date": "2026-07-17",
        "close": 86.169998,
        "volume": 1483,
        "typical_volume": 310.45,
        "trend": 84.960966,
        "fair_value": 86.90958,
        "relative_strength": -1.9074,
        "stage": 1,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 78.854961,
        "energy": 81.947113,
        "activity_lines": [
          85.854,
          85.528727,
          85.180471,
          85.07015
        ]
      },
      {
        "date": "2026-07-24",
        "close": 86.169998,
        "volume": 0,
        "typical_volume": 308.15,
        "trend": 85.007333,
        "fair_value": 86.937471,
        "relative_strength": -2.214633,
        "stage": 1,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 73.912611,
        "energy": 83.879285,
        "activity_lines": [
          86.019999,
          85.687254,
          85.279418,
          85.148152
        ]
      },
      {
        "date": "2026-07-31",
        "close": 86.080002,
        "volume": 14,
        "typical_volume": 298.55,
        "trend": 85.0539,
        "fair_value": 86.958067,
        "relative_strength": -3.666249,
        "stage": 1,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 67.703071,
        "energy": 80.030315,
        "activity_lines": [
          86.075333,
          85.807509,
          85.366523,
          85.217357
        ]
      },
      {
        "date": "2026-08-07",
        "close": 86.080002,
        "volume": 0,
        "typical_volume": 292.75,
        "trend": 85.0783,
        "fair_value": 86.974715,
        "relative_strength": -5.744017,
        "stage": 1,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 65.472042,
        "energy": 76.427402,
        "activity_lines": [
          86.107334,
          85.907891,
          85.455357,
          85.283557
        ]
      }
    ],
    "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."
    }
  }
}