{
  "ticker": {
    "uuid": "cddee0cf-f197-4940-8149-e78ad350f0b1",
    "symbol": "SKUK",
    "name": "iShares $ Sukuk UCITS ETF USD Dis",
    "exchange": "AMS",
    "country": "NL",
    "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": "^AEX",
    "stage": 3,
    "stage_name": "Distribution",
    "phase": "3c",
    "phase_label": "Stage 3C \u00b7 Breakdown watch",
    "transition": "stage_3_to_4_watch",
    "transition_label": "Stage 3 \u2192 4 watch",
    "confidence": 79.878,
    "architecture_regime": "balance",
    "architecture_regime_label": "Balance",
    "architecture_modifier": "Upper balance after advance",
    "architecture_gate": "mixed",
    "architecture_direction": 5.657,
    "architecture_energy": 11.292,
    "architecture_maturity": 15.672,
    "architecture_confidence": 64.449,
    "architecture_tenure": "New",
    "architecture": {
      "interpretation": {
        "headline": "Directional pressure has compressed into balance.",
        "body": "Trend and Activity are compressed into balance, so neither side has durable control. Prior structure and the next directional change provide context; balance alone is not assumed to be a base."
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      "scores": {
        "balance": 55.56,
        "rotation_up": 20.73,
        "upward_expansion": 28.42,
        "deceleration": 70.15,
        "rotation_down": 47.08,
        "downward_expansion": 25.42
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      "activity_lines": [
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      "activity_state": "Compressed",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": 0.0
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    "latest_close": 5.063,
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    "trend_direction": "Improving",
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    "fair_value_direction": "Weakening",
    "relative_strength": -10.524416,
    "relative_strength_direction": "Weakening",
    "price_momentum": -0.000127,
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        "read": "Above"
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        "read": "Rising"
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      {
        "label": "Price vs current Fair Value",
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        "read": "Premium"
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      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.005202,
        "read": "Moving away"
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      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.105244,
        "read": "Lagging"
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      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.055441,
        "read": "Weakening"
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      {
        "label": "Price momentum",
        "positive": false,
        "value": -0.000127,
        "read": "Negative"
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        "label": "Volume balance",
        "positive": true,
        "value": 1.201738,
        "read": "Demand-led"
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      "dry_up": 1.159572,
      "accumulation_observations": 3,
      "distribution_observations": 2
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      "invalidation": "A decisive breakout above range resistance with renewed RS leadership invalidates the distribution reading; a range-low break confirms deterioration."
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        "sample_count": 5,
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        ]
      },
      {
        "date": "2026-05-15",
        "close": 5.040157,
        "volume": 159071,
        "typical_volume": 327804.8,
        "trend": 5.042511,
        "fair_value": 4.870545,
        "relative_strength": -4.784304,
        "stage": 3,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "mixed",
        "direction": -0.568462,
        "energy": 8.79898,
        "activity_lines": [
          5.053885,
          5.037926,
          5.039703,
          5.042291
        ]
      },
      {
        "date": "2026-05-22",
        "close": 5.043,
        "volume": 148521,
        "typical_volume": 313414.1,
        "trend": 5.042844,
        "fair_value": 4.871947,
        "relative_strength": -7.737886,
        "stage": 3,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "mixed",
        "direction": 6.831817,
        "energy": 7.066195,
        "activity_lines": [
          5.049101,
          5.041824,
          5.039472,
          5.042323
        ]
      },
      {
        "date": "2026-05-29",
        "close": 5.076,
        "volume": 322187,
        "typical_volume": 316073.65,
        "trend": 5.044712,
        "fair_value": 4.873593,
        "relative_strength": -6.109679,
        "stage": 3,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "mixed",
        "direction": 14.782784,
        "energy": 11.147972,
        "activity_lines": [
          5.057204,
          5.051214,
          5.042443,
          5.044462
        ]
      },
      {
        "date": "2026-06-05",
        "close": 5.059,
        "volume": 30616,
        "typical_volume": 293339.65,
        "trend": 5.045693,
        "fair_value": 4.875076,
        "relative_strength": -6.857955,
        "stage": 3,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "mixed",
        "direction": 8.713288,
        "energy": 7.771254,
        "activity_lines": [
          5.058475,
          5.0554,
          5.04368,
          5.045384
        ]
      },
      {
        "date": "2026-06-12",
        "close": 5.07,
        "volume": 521135,
        "typical_volume": 309731.6,
        "trend": 5.047021,
        "fair_value": 4.876623,
        "relative_strength": -9.927048,
        "stage": 3,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "mixed",
        "direction": 14.204904,
        "energy": 12.988334,
        "activity_lines": [
          5.062677,
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      },
      {
        "date": "2026-06-19",
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        "volume": 6263,
        "typical_volume": 290159.8,
        "trend": 5.048658,
        "fair_value": 4.878232,
        "relative_strength": -9.262778,
        "stage": 3,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "up",
        "direction": 54.081831,
        "energy": 37.926758,
        "activity_lines": [
          5.070467,
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          5.049274,
          5.049144
        ]
      },
      {
        "date": "2026-06-26",
        "close": 5.088,
        "volume": 4453,
        "typical_volume": 282958.2,
        "trend": 5.050222,
        "fair_value": 4.879871,
        "relative_strength": -7.470351,
        "stage": 3,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "up",
        "direction": 57.044433,
        "energy": 42.25191,
        "activity_lines": [
          5.077867,
          5.068628,
          5.053144,
          5.051682
        ]
      },
      {
        "date": "2026-07-03",
        "close": 5.086,
        "volume": 12107,
        "typical_volume": 275314.1,
        "trend": 5.051616,
        "fair_value": 4.881469,
        "relative_strength": -9.190537,
        "stage": 3,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "up",
        "direction": 57.472724,
        "energy": 46.168318,
        "activity_lines": [
          5.0816,
          5.072765,
          5.056708,
          5.05399
        ]
      },
      {
        "date": "2026-07-10",
        "close": 5.076,
        "volume": 501591,
        "typical_volume": 295719.9,
        "trend": 5.052907,
        "fair_value": 4.882965,
        "relative_strength": -9.246421,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 54.440844,
        "energy": 45.136286,
        "activity_lines": [
          5.081333,
          5.074584,
          5.059341,
          5.055564
        ]
      },
      {
        "date": "2026-07-17",
        "close": 5.065,
        "volume": 393092,
        "typical_volume": 289205.0,
        "trend": 5.053411,
        "fair_value": 4.884355,
        "relative_strength": -9.838343,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 50.99264,
        "energy": 34.033564,
        "activity_lines": [
          5.076267,
          5.073894,
          5.061021,
          5.056344
        ]
      },
      {
        "date": "2026-07-24",
        "close": 5.04,
        "volume": 147528,
        "typical_volume": 277115.95,
        "trend": 5.053082,
        "fair_value": 4.885534,
        "relative_strength": -9.850424,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 23.802239,
        "energy": 11.894838,
        "activity_lines": [
          5.0632,
          5.068727,
          5.060504,
          5.055479
        ]
      },
      {
        "date": "2026-07-31",
        "close": 5.037,
        "volume": 135897,
        "typical_volume": 270663.9,
        "trend": 5.052468,
        "fair_value": 4.886673,
        "relative_strength": -10.322115,
        "stage": 3,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "mixed",
        "direction": -3.004594,
        "energy": 10.336751,
        "activity_lines": [
          5.051867,
          5.063018,
          5.059744,
          5.054441
        ]
      },
      {
        "date": "2026-08-07",
        "close": 5.063,
        "volume": 655721,
        "typical_volume": 287226.35,
        "trend": 5.052844,
        "fair_value": 4.887989,
        "relative_strength": -10.524416,
        "stage": 3,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "mixed",
        "direction": 5.656787,
        "energy": 11.292133,
        "activity_lines": [
          5.0526,
          5.062145,
          5.061356,
          5.055121
        ]
      }
    ],
    "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."
    }
  }
}