{
  "ticker": {
    "uuid": "d5d5d9dd-bf19-4065-8126-1f6f07eb2cba",
    "symbol": "HLTW",
    "name": "Amundi MSCI World Health Care UCITS ETF EUR 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": 2,
    "stage_name": "Advancing",
    "phase": "2a",
    "phase_label": "Stage 2A \u00b7 Early advance",
    "transition": "stage_2_healthy",
    "transition_label": "Stage 2 trend intact",
    "confidence": 86.769,
    "architecture_regime": "upward_expansion",
    "architecture_regime_label": "Upward Expansion",
    "architecture_modifier": "Early expansion",
    "architecture_gate": "up",
    "architecture_direction": 67.853,
    "architecture_energy": 55.383,
    "architecture_maturity": 15.868,
    "architecture_confidence": 74.515,
    "architecture_tenure": "New",
    "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": 15.48,
        "rotation_up": 67.95,
        "upward_expansion": 83.98,
        "deceleration": 58.33,
        "rotation_down": 15.89,
        "downward_expansion": 8.31
      },
      "activity_lines": [
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      "activity_state": "Wide",
      "activity_direction": "Contracting",
      "rotation_direction": "Improving",
      "price_acceptance": 0.833333
    },
    "latest_close": 513.320007,
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    "distance_from_trend": 0.063089,
    "trend_direction": "Improving",
    "fair_value": 467.981987,
    "distance_from_fair_value": 0.09688,
    "fair_value_direction": "Improving",
    "relative_strength": 1.479254,
    "relative_strength_direction": "Improving",
    "price_momentum": 0.052446,
    "excess_performance": -0.000865,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.063089,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.014078,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.09688,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.126645,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.014793,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.042945,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.052446,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 1.204566,
        "read": "Demand-led"
      }
    ],
    "volume": {
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      "relative_activity": 1.600206,
      "balance": 1.204566,
      "dry_up": 1.741189,
      "accumulation_observations": 4,
      "distribution_observations": 2
    },
    "risk": {
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      "annualized_volatility": 0.163504,
      "from_high_reference": -0.032257,
      "from_low_reference": 0.240802
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    "levels": {
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      "fair_value_reference": 467.981987,
      "structural_low": 446.649994,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
    },
    "outcomes": [
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        "median_return": 0.000126,
        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
        "median_excess_return": 0.001472,
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        "worst_return": -0.066422,
        "sufficient": true
      },
      {
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        "sufficient": true
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      },
      {
        "date": "2026-05-01",
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        "typical_volume": 3834.55,
        "trend": 475.302334,
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        "relative_strength": -1.237767,
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      },
      {
        "date": "2026-05-08",
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        "typical_volume": 3773.85,
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        "stage": 3,
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        "modifier": "Structural failure",
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        "energy": 75.335072,
        "activity_lines": [
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      },
      {
        "date": "2026-05-15",
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        "typical_volume": 3848.3,
        "trend": 475.329,
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        "relative_strength": 1.074228,
        "stage": 3,
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        "modifier": "Early contraction",
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      },
      {
        "date": "2026-05-22",
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      },
      {
        "date": "2026-05-29",
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      },
      {
        "date": "2026-06-05",
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        "typical_volume": 3620.15,
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      {
        "date": "2026-06-12",
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      },
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        "date": "2026-06-19",
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      },
      {
        "date": "2026-06-26",
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        "trend": 477.189666,
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        "relative_strength": 5.337626,
        "stage": 3,
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        "modifier": "Balance after decline",
        "gate": "mixed",
        "direction": 47.385431,
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      },
      {
        "date": "2026-07-03",
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        "volume": 382,
        "typical_volume": 2714.85,
        "trend": 478.223998,
        "fair_value": 465.495833,
        "relative_strength": 4.833233,
        "stage": 2,
        "regime": "rotation_up",
        "modifier": "Structural repair",
        "gate": "mixed",
        "direction": 50.516755,
        "energy": 71.632594,
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      },
      {
        "date": "2026-07-10",
        "close": 508.149994,
        "volume": 6724,
        "typical_volume": 2791.3,
        "trend": 479.284998,
        "fair_value": 466.066923,
        "relative_strength": 5.861078,
        "stage": 2,
        "regime": "rotation_up",
        "modifier": "Value reclamation",
        "gate": "mixed",
        "direction": 49.99852,
        "energy": 74.33138,
        "activity_lines": [
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      },
      {
        "date": "2026-07-17",
        "close": 510.600006,
        "volume": 3138,
        "typical_volume": 2755.45,
        "trend": 480.302664,
        "fair_value": 466.536218,
        "relative_strength": 6.096965,
        "stage": 2,
        "regime": "rotation_up",
        "modifier": "Value reclamation",
        "gate": "up",
        "direction": 73.18268,
        "energy": 84.874724,
        "activity_lines": [
          506.937329,
          496.084358,
          482.523853,
          480.640147
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      },
      {
        "date": "2026-07-24",
        "close": 513.080017,
        "volume": 5241,
        "typical_volume": 2880.3,
        "trend": 481.387665,
        "fair_value": 467.024615,
        "relative_strength": 5.949685,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 70.679159,
        "energy": 84.006686,
        "activity_lines": [
          510.867336,
          500.82418,
          486.058045,
          482.754815
        ]
      },
      {
        "date": "2026-07-31",
        "close": 507.149994,
        "volume": 7260,
        "typical_volume": 2763.75,
        "trend": 482.273664,
        "fair_value": 467.517244,
        "relative_strength": 2.877619,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 65.089264,
        "energy": 62.568397,
        "activity_lines": [
          509.892668,
          503.493998,
          488.884378,
          484.416901
        ]
      },
      {
        "date": "2026-08-07",
        "close": 513.320007,
        "volume": 4665,
        "typical_volume": 2915.25,
        "trend": 482.856998,
        "fair_value": 467.981987,
        "relative_strength": 1.479254,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 67.852759,
        "energy": 55.383102,
        "activity_lines": [
          510.919338,
          506.636,
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          486.419891
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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."
    }
  }
}