{
  "ticker": {
    "uuid": "f13fe00b-cb31-4f33-af2e-d39016302e3d",
    "symbol": "PFT",
    "name": "Invesco RAFI US Fundamental Value UCITS ETF",
    "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": 87.817,
    "architecture_energy": 74.899,
    "architecture_maturity": 94.718,
    "architecture_confidence": 91.102,
    "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": 4.54,
        "rotation_up": 64.13,
        "upward_expansion": 87.67,
        "deceleration": 65.8,
        "rotation_down": 29.61,
        "downward_expansion": 12.0
      },
      "activity_lines": [
        39.017666,
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        38.015008,
        37.102239
      ],
      "activity_state": "Wide",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": 0.833333
    },
    "latest_close": 39.445,
    "trend_reference": 35.97435,
    "distance_from_trend": 0.096476,
    "trend_direction": "Improving",
    "fair_value": 30.275406,
    "distance_from_fair_value": 0.302873,
    "fair_value_direction": "Improving",
    "relative_strength": 7.987601,
    "relative_strength_direction": "Weakening",
    "price_momentum": 0.167085,
    "excess_performance": 0.113774,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.096476,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.061095,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.302873,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.056217,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.079876,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.037797,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.167085,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 2.450527,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 782,
      "relative_activity": 0.200551,
      "balance": 2.450527,
      "dry_up": 1.121113,
      "accumulation_observations": 3,
      "distribution_observations": 2
    },
    "risk": {
      "range_context": 0.011591,
      "annualized_volatility": 0.066081,
      "from_high_reference": -0.005421,
      "from_low_reference": 0.321811
    },
    "levels": {
      "trend_reference": 35.97435,
      "fair_value_reference": 30.275406,
      "structural_low": 32.869999,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 43,
        "median_return": 0.010272,
        "positive_rate": 0.627907,
        "directional_follow_through": 0.627907,
        "median_excess_return": 0.009472,
        "regime_survival": 0.790698,
        "best_return": 0.054158,
        "worst_return": -0.076003,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 15,
        "median_return": 0.029383,
        "positive_rate": 0.666667,
        "directional_follow_through": 0.666667,
        "median_excess_return": 0.027967,
        "regime_survival": 0.6,
        "best_return": 0.148348,
        "worst_return": -0.073363,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 8,
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        "positive_rate": 0.625,
        "directional_follow_through": 0.625,
        "median_excess_return": 0.060649,
        "regime_survival": 0.5,
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        "worst_return": -0.110263,
        "sufficient": true
      },
      {
        "horizon": "Full cycle",
        "sample_count": 4,
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        "worst_return": -0.041248,
        "sufficient": false
      }
    ],
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        "regime": "deceleration",
        "label": "Deceleration",
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      {
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        "regime": "rotation_down",
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        "regime": "balance",
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        "typical_volume": 4288.8,
        "trend": 33.049817,
        "fair_value": 28.880211,
        "relative_strength": 8.901956,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
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        "activity_lines": [
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      },
      {
        "date": "2026-05-01",
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        "fair_value": 28.968819,
        "relative_strength": 10.974652,
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        "regime": "upward_expansion",
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        "activity_lines": [
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      },
      {
        "date": "2026-05-08",
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        "typical_volume": 3970.45,
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        "relative_strength": 11.767254,
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        "energy": 95.509418,
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      },
      {
        "date": "2026-05-15",
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        "typical_volume": 3962.7,
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        "energy": 96.220285,
        "activity_lines": [
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      },
      {
        "date": "2026-05-22",
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        "typical_volume": 3903.85,
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        "fair_value": 29.235268,
        "relative_strength": 13.071259,
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        "modifier": "Re-accelerating",
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        "direction": 86.89492,
        "energy": 95.110331,
        "activity_lines": [
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      },
      {
        "date": "2026-05-29",
        "close": 37.444851,
        "volume": 7338,
        "typical_volume": 4131.85,
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        "relative_strength": 13.172935,
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      },
      {
        "date": "2026-06-05",
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        "trend": 34.112009,
        "fair_value": 29.418047,
        "relative_strength": 13.431699,
        "stage": 2,
        "regime": "upward_expansion",
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        "activity_lines": [
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      },
      {
        "date": "2026-06-12",
        "close": 38.025002,
        "volume": 666,
        "typical_volume": 3838.65,
        "trend": 34.315602,
        "fair_value": 29.510335,
        "relative_strength": 11.757389,
        "stage": 2,
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        "modifier": "Re-accelerating",
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        "direction": 85.178195,
        "energy": 94.310895,
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      },
      {
        "date": "2026-06-19",
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        "relative_strength": 11.080508,
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      },
      {
        "date": "2026-06-26",
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        "trend": 34.732546,
        "fair_value": 29.700937,
        "relative_strength": 11.946813,
        "stage": 2,
        "regime": "upward_expansion",
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        "direction": 84.775841,
        "energy": 94.468747,
        "activity_lines": [
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          35.693575
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      },
      {
        "date": "2026-07-03",
        "close": 38.619999,
        "volume": 0,
        "typical_volume": 3383.65,
        "trend": 34.940742,
        "fair_value": 29.797347,
        "relative_strength": 10.263276,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
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        "direction": 81.718484,
        "energy": 93.434344,
        "activity_lines": [
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      },
      {
        "date": "2026-07-10",
        "close": 38.845001,
        "volume": 4393,
        "typical_volume": 3414.7,
        "trend": 35.150176,
        "fair_value": 29.896552,
        "relative_strength": 12.705876,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 83.508157,
        "energy": 93.90464,
        "activity_lines": [
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          37.019145,
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      },
      {
        "date": "2026-07-17",
        "close": 38.91,
        "volume": 6365,
        "typical_volume": 3692.05,
        "trend": 35.365099,
        "fair_value": 29.992085,
        "relative_strength": 12.444256,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 79.925406,
        "energy": 92.384717,
        "activity_lines": [
          38.737333,
          38.384526,
          37.29465,
          36.438835
        ]
      },
      {
        "date": "2026-07-24",
        "close": 38.884998,
        "volume": 4751,
        "typical_volume": 3835.25,
        "trend": 35.579023,
        "fair_value": 30.084691,
        "relative_strength": 11.492042,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 73.87453,
        "energy": 89.076397,
        "activity_lines": [
          38.823666,
          38.543764,
          37.545306,
          36.665926
        ]
      },
      {
        "date": "2026-07-31",
        "close": 38.68,
        "volume": 5588,
        "typical_volume": 3943.8,
        "trend": 35.783123,
        "fair_value": 30.177427,
        "relative_strength": 8.793285,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 68.415547,
        "energy": 68.430321,
        "activity_lines": [
          38.798666,
          38.625858,
          37.754991,
          36.865989
        ]
      },
      {
        "date": "2026-08-07",
        "close": 39.445,
        "volume": 782,
        "typical_volume": 3899.25,
        "trend": 35.97435,
        "fair_value": 30.275406,
        "relative_strength": 7.987601,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 87.817181,
        "energy": 74.899179,
        "activity_lines": [
          39.017666,
          38.815703,
          38.015008,
          37.102239
        ]
      }
    ],
    "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."
    }
  }
}