{
  "ticker": {
    "uuid": "dd3349b9-70c5-4ba8-83bd-bb9f270d149b",
    "symbol": "REEU",
    "name": "Amundi Index Solutions - Amundi FTSE EPRA Europe Real Estate UCITS ETF",
    "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": 3,
    "stage_name": "Distribution",
    "phase": "3a",
    "phase_label": "Stage 3A \u00b7 Churning",
    "transition": "stage_3_churning",
    "transition_label": "Stage 3 range intact",
    "confidence": 69.479,
    "architecture_regime": "rotation_up",
    "architecture_regime_label": "Rotation Up",
    "architecture_modifier": "Value reclamation",
    "architecture_gate": "mixed",
    "architecture_direction": 38.507,
    "architecture_energy": 53.832,
    "architecture_maturity": 10.388,
    "architecture_confidence": 52.414,
    "architecture_tenure": "New",
    "architecture": {
      "interpretation": {
        "headline": "The Activity Line structure is rotating upward.",
        "body": "Fast Activity is improving relative to Slow Activity and price acceptance is strengthening. This is earlier than full positive Trend confirmation and remains a developing repair."
      },
      "scores": {
        "balance": 28.13,
        "rotation_up": 69.3,
        "upward_expansion": 62.88,
        "deceleration": 19.92,
        "rotation_down": 19.07,
        "downward_expansion": 18.88
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      "activity_lines": [
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        30.762428,
        30.653806
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      "activity_state": "Moderate",
      "activity_direction": "Expanding",
      "rotation_direction": "Improving",
      "price_acceptance": 1.0
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    "latest_close": 31.594999,
    "trend_reference": 30.679167,
    "distance_from_trend": 0.029852,
    "trend_direction": "Improving",
    "fair_value": 29.474437,
    "distance_from_fair_value": 0.071946,
    "fair_value_direction": "Improving",
    "relative_strength": -10.620116,
    "relative_strength_direction": "Improving",
    "price_momentum": 0.007976,
    "excess_performance": -0.162916,
    "evidence": [
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        "label": "Price vs Trend",
        "positive": true,
        "value": 0.029852,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.01257,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.071946,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.046497,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.106201,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.018319,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.007976,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 1.956376,
        "read": "Demand-led"
      }
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    "volume": {
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      "relative_activity": 0.109185,
      "balance": 1.956376,
      "dry_up": 0.323387,
      "accumulation_observations": 1,
      "distribution_observations": 0
    },
    "risk": {
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      "annualized_volatility": 0.212193,
      "from_high_reference": -0.050916,
      "from_low_reference": 0.135694
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    "levels": {
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      "fair_value_reference": 29.474437,
      "structural_low": 27.82,
      "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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    "outcomes": [
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        "horizon": "Near term",
        "sample_count": 1,
        "median_return": 0.037206,
        "positive_rate": 1.0,
        "directional_follow_through": 1.0,
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        "worst_return": 0.037206,
        "sufficient": false
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        "horizon": "Intermediate",
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        "median_return": 0.017298,
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        "sufficient": false
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        "horizon": "Extended",
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        "horizon": "Full cycle",
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        "regime": "deceleration",
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        "active": false
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        "active": false
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        "active": false
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        "date": "2026-03-06",
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        "date": "2026-03-20",
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        "date": "2026-03-27",
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        "date": "2026-04-03",
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        "date": "2026-04-10",
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        "date": "2026-05-01",
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      },
      {
        "date": "2026-07-03",
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        "relative_strength": -11.750248,
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      },
      {
        "date": "2026-07-10",
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        "typical_volume": 1304.55,
        "trend": 30.465167,
        "fair_value": 29.416183,
        "relative_strength": -12.044977,
        "stage": 3,
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        "direction": 15.100143,
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      },
      {
        "date": "2026-07-17",
        "close": 31.295,
        "volume": 805,
        "typical_volume": 1285.4,
        "trend": 30.529833,
        "fair_value": 29.429603,
        "relative_strength": -9.393915,
        "stage": 3,
        "regime": "rotation_up",
        "modifier": "Structural repair",
        "gate": "mixed",
        "direction": 25.94947,
        "energy": 45.562031,
        "activity_lines": [
          31.055333,
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          30.383143,
          30.465344
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      },
      {
        "date": "2026-07-24",
        "close": 31.42,
        "volume": 530,
        "typical_volume": 1238.9,
        "trend": 30.592833,
        "fair_value": 29.44372,
        "relative_strength": -8.556089,
        "stage": 3,
        "regime": "rotation_up",
        "modifier": "Value reclamation",
        "gate": "mixed",
        "direction": 27.3533,
        "energy": 51.468476,
        "activity_lines": [
          31.246333,
          30.856455,
          30.498262,
          30.522774
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      },
      {
        "date": "2026-07-31",
        "close": 31.684999,
        "volume": 86,
        "typical_volume": 1195.15,
        "trend": 30.656167,
        "fair_value": 29.459503,
        "relative_strength": -8.090904,
        "stage": 3,
        "regime": "rotation_up",
        "modifier": "Value reclamation",
        "gate": "mixed",
        "direction": 42.794586,
        "energy": 56.171479,
        "activity_lines": [
          31.409666,
          31.055727,
          30.638429,
          30.593237
        ]
      },
      {
        "date": "2026-08-07",
        "close": 31.594999,
        "volume": 131,
        "typical_volume": 1199.8,
        "trend": 30.679167,
        "fair_value": 29.474437,
        "relative_strength": -10.620116,
        "stage": 3,
        "regime": "rotation_up",
        "modifier": "Value reclamation",
        "gate": "mixed",
        "direction": 38.506917,
        "energy": 53.831582,
        "activity_lines": [
          31.499666,
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          30.762428,
          30.653806
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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."
    }
  }
}