{ "ticker": { "uuid": "f1ac3d39-3e4c-4336-8ec4-d8b4a441e4f3", "symbol": "JEIA", "name": "JPM US Equity Premium Income Ac", "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": 83.245, "architecture_regime": "upward_expansion", "architecture_regime_label": "Upward Expansion", "architecture_modifier": "Early expansion", "architecture_gate": "up", "architecture_direction": 87.444, "architecture_energy": 85.329, "architecture_maturity": 13.246, "architecture_confidence": 54.035, "architecture_tenure": "Developing", "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": 11.21, "rotation_up": 84.84, "upward_expansion": 92.82, "deceleration": 46.34, "rotation_down": 9.01, "downward_expansion": 17.15 }, "activity_lines": [ 24.317999, 24.164636, 23.787738, 23.661215 ], "activity_state": "Wide", "activity_direction": "Expanding", "rotation_direction": "Improving", "price_acceptance": 0.833333 }, "latest_close": 24.49, "trend_reference": 23.535, "distance_from_trend": 0.040578, "trend_direction": "Improving", "fair_value": 23.001483, "distance_from_fair_value": 0.064714, "fair_value_direction": "Improving", "relative_strength": -9.156892, "relative_strength_direction": "Improving", "price_momentum": 0.048373, "excess_performance": -0.122518, "evidence": [ { "label": "Price vs Trend", "positive": true, "value": 0.040578, "read": "Above" }, { "label": "Trend direction", "positive": true, "value": 0.016543, "read": "Rising" }, { "label": "Price vs current Fair Value", "positive": true, "value": 0.064714, "read": "Premium" }, { "label": "Fair Value direction", "positive": true, "value": 0.062369, "read": "Closing upward" }, { "label": "Relative Strength vs benchmark", "positive": false, "value": -0.091569, "read": "Lagging" }, { "label": "Relative strength direction", "positive": true, "value": 0.017926, "read": "Improving" }, { "label": "Price momentum", "positive": true, "value": 0.048373, "read": "Positive" }, { "label": "Volume balance", "positive": true, "value": 1.431013, "read": "Demand-led" } ], "volume": { "latest": 879, "relative_activity": 1.200902, "balance": 1.431013, "dry_up": 0.947811, "accumulation_observations": 2, "distribution_observations": 2 }, "risk": { "range_context": 0.00779, "annualized_volatility": 0.068977, "from_high_reference": -0.000816, "from_low_reference": 0.127013 }, "levels": { "trend_reference": 23.535, "fair_value_reference": 23.001483, "structural_low": 22.84, "invalidation": "A 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"positive_rate": null, "directional_follow_through": null, "median_excess_return": null, "regime_survival": null, "best_return": null, "worst_return": null, "sufficient": false } ], "ledger": [ { "regime": "rotation_down", "label": "Rotation Down", "color": "orange", "start": "2026-05-22", "end": "2026-06-12", "tenure": "New", "return": 0.021672, "active": false }, { "regime": "rotation_up", "label": "Rotation Up", "color": "teal", "start": "2026-06-19", "end": "2026-07-03", "tenure": "New", "return": 0.021079, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2026-07-10", "end": "2026-08-07", "tenure": "Developing", "return": 0.012193, "active": true } ], "chart_path": [ { "date": "2024-11-15", "close": 24.115, "volume": 2100, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ 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667.7, "trend": 23.437166, "fair_value": 22.970562, "relative_strength": -7.536435, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 68.610323, "energy": 88.92973, "activity_lines": [ 24.186666, 23.936727, 23.616714, 23.542978 ] }, { "date": "2026-07-31", "close": 24.264999, "volume": 706, "typical_volume": 703.0, "trend": 23.485166, "fair_value": 22.984944, "relative_strength": -7.562111, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 72.949871, "energy": 89.679175, "activity_lines": [ 24.229332, 24.043181, 23.692833, 23.596387 ] }, { "date": "2026-08-07", "close": 24.49, "volume": 879, "typical_volume": 731.95, "trend": 23.535, "fair_value": 23.001483, "relative_strength": -9.156892, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 87.444364, "energy": 85.328521, "activity_lines": [ 24.317999, 24.164636, 23.787738, 23.661215 ] } ], "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." } } }