{
  "ticker": {
    "uuid": "eb448ee0-9e2f-4e35-90ed-b08d7ca0db70",
    "symbol": "CS9",
    "name": "Amundi MSCI Europe ex Switzerland ESG Broad Transition 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": 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": "Established expansion",
    "architecture_gate": "up",
    "architecture_direction": 85.251,
    "architecture_energy": 77.317,
    "architecture_maturity": 43.215,
    "architecture_confidence": 88.927,
    "architecture_tenure": "Established",
    "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": 8.05,
        "rotation_up": 63.2,
        "upward_expansion": 88.85,
        "deceleration": 51.39,
        "rotation_down": 24.28,
        "downward_expansion": 15.51
      },
      "activity_lines": [
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      "activity_state": "Wide",
      "activity_direction": "Expanding",
      "rotation_direction": "Weakening",
      "price_acceptance": 0.666667
    },
    "latest_close": 409.869995,
    "trend_reference": 380.615165,
    "distance_from_trend": 0.076862,
    "trend_direction": "Improving",
    "fair_value": 329.859472,
    "distance_from_fair_value": 0.242559,
    "fair_value_direction": "Improving",
    "relative_strength": 4.770983,
    "relative_strength_direction": "Weakening",
    "price_momentum": 0.095117,
    "excess_performance": 0.041806,
    "evidence": [
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        "label": "Price vs Trend",
        "positive": true,
        "value": 0.076862,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.04124,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.242559,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.069286,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.04771,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.01292,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.095117,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 1.100083,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 223,
      "relative_activity": 0.221,
      "balance": 1.100083,
      "dry_up": 0.34364,
      "accumulation_observations": 0,
      "distribution_observations": 1
    },
    "risk": {
      "range_context": 0.017004,
      "annualized_volatility": 0.162195,
      "from_high_reference": -0.000317,
      "from_low_reference": 0.255554
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    "levels": {
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      "fair_value_reference": 329.859472,
      "structural_low": 339.079803,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
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        "horizon": "Near term",
        "sample_count": 35,
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        "positive_rate": 0.628571,
        "directional_follow_through": 0.628571,
        "median_excess_return": -0.003225,
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        "worst_return": -0.104092,
        "sufficient": true
      },
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        "horizon": "Intermediate",
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        "worst_return": -0.064864,
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      },
      {
        "date": "2026-05-01",
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      },
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        "date": "2026-05-08",
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        "date": "2026-05-15",
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      },
      {
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      },
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        "date": "2026-05-29",
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      },
      {
        "date": "2026-06-05",
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        "volume": 1252,
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        "relative_strength": 6.766148,
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      },
      {
        "date": "2026-06-26",
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      },
      {
        "date": "2026-07-03",
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      },
      {
        "date": "2026-07-10",
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        "typical_volume": 1804.2,
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        "fair_value": 326.84702,
        "relative_strength": 7.204525,
        "stage": 2,
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        "gate": "up",
        "direction": 66.747035,
        "energy": 83.539026,
        "activity_lines": [
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      },
      {
        "date": "2026-07-17",
        "close": 395.829987,
        "volume": 403,
        "typical_volume": 1653.45,
        "trend": 376.476405,
        "fair_value": 327.559543,
        "relative_strength": 6.42486,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 64.935203,
        "energy": 78.771881,
        "activity_lines": [
          397.871332,
          395.064385,
          386.985999,
          382.184403
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      },
      {
        "date": "2026-07-24",
        "close": 399.279999,
        "volume": 148,
        "typical_volume": 1244.4,
        "trend": 377.895298,
        "fair_value": 328.268234,
        "relative_strength": 6.67745,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 67.875083,
        "energy": 76.358869,
        "activity_lines": [
          398.420665,
          396.488428,
          388.921444,
          383.655603
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      },
      {
        "date": "2026-07-31",
        "close": 401.730011,
        "volume": 613,
        "typical_volume": 1110.25,
        "trend": 379.284116,
        "fair_value": 329.040539,
        "relative_strength": 5.381338,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 70.673726,
        "energy": 60.574611,
        "activity_lines": [
          399.558002,
          397.85786,
          390.913806,
          385.193326
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      },
      {
        "date": "2026-08-07",
        "close": 409.869995,
        "volume": 223,
        "typical_volume": 1009.05,
        "trend": 380.615165,
        "fair_value": 329.859472,
        "relative_strength": 4.770983,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 85.251293,
        "energy": 77.317003,
        "activity_lines": [
          402.904,
          400.443036,
          393.488063,
          387.166609
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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."
    }
  }
}