{
  "ticker": {
    "uuid": "f56a6bb9-a359-46c4-a968-50dca3beef92",
    "symbol": "JPNY",
    "name": "Amundi Index Solutions - Amundi JPX-Nikkei 400",
    "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": "deceleration",
    "architecture_regime_label": "Deceleration",
    "architecture_modifier": "Recompressing",
    "architecture_gate": "up",
    "architecture_direction": 59.681,
    "architecture_energy": 37.402,
    "architecture_maturity": 60.067,
    "architecture_confidence": 79.215,
    "architecture_tenure": "New",
    "architecture": {
      "interpretation": {
        "headline": "The upward structure remains, but its energy is decelerating.",
        "body": "Trend remains positive, but Activity or price acceptance is losing strength. This can become a healthy recompression, a re-acceleration, or a Rotation Down."
      },
      "scores": {
        "balance": 21.62,
        "rotation_up": 42.59,
        "upward_expansion": 69.1,
        "deceleration": 82.66,
        "rotation_down": 27.26,
        "downward_expansion": 16.76
      },
      "activity_lines": [
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      ],
      "activity_state": "Moderate",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": 0.666667
    },
    "latest_close": 46248.328125,
    "trend_reference": 43308.954948,
    "distance_from_trend": 0.06787,
    "trend_direction": "Improving",
    "fair_value": 32740.966872,
    "distance_from_fair_value": 0.412552,
    "fair_value_direction": "Weakening",
    "relative_strength": 7.161707,
    "relative_strength_direction": "Weakening",
    "price_momentum": 0.097303,
    "excess_performance": 0.043991,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.06787,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.061954,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.412552,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.005479,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.071617,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.104129,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.097303,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 5.163563,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 243,
      "relative_activity": 0.349615,
      "balance": 5.163563,
      "dry_up": 0.471908,
      "accumulation_observations": 3,
      "distribution_observations": 0
    },
    "risk": {
      "range_context": 0.024944,
      "annualized_volatility": 0.191002,
      "from_high_reference": -0.012727,
      "from_low_reference": 0.436459
    },
    "levels": {
      "trend_reference": 43308.954948,
      "fair_value_reference": 32740.966872,
      "structural_low": 39246.878906,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 12,
        "median_return": 0.012655,
        "positive_rate": 0.666667,
        "directional_follow_through": 0.666667,
        "median_excess_return": -0.009998,
        "regime_survival": 0.416667,
        "best_return": 0.066497,
        "worst_return": -0.036105,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 7,
        "median_return": 0.019292,
        "positive_rate": 0.571429,
        "directional_follow_through": 0.571429,
        "median_excess_return": 0.005336,
        "regime_survival": 0.142857,
        "best_return": 0.139417,
        "worst_return": -0.090252,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 5,
        "median_return": 0.068272,
        "positive_rate": 0.8,
        "directional_follow_through": 0.8,
        "median_excess_return": 0.023731,
        "regime_survival": 0.0,
        "best_return": 0.20069,
        "worst_return": -0.030287,
        "sufficient": true
      },
      {
        "horizon": "Full cycle",
        "sample_count": 4,
        "median_return": 0.20565,
        "positive_rate": 0.75,
        "directional_follow_through": 0.75,
        "median_excess_return": 0.112352,
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        "best_return": 0.319452,
        "worst_return": -0.028891,
        "sufficient": false
      }
    ],
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        "regime": "upward_expansion",
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        "end": "2024-07-26",
        "tenure": "Developing",
        "return": -0.01373,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
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        "tenure": "Developing",
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        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
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        "end": "2024-10-11",
        "tenure": "New",
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        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
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        "end": "2024-12-06",
        "tenure": "Developing",
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        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
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        "tenure": "New",
        "return": -0.000154,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
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        "end": "2025-01-24",
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        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
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        "tenure": "Developing",
        "return": 0.001421,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
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        "return": 0.015995,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
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        "tenure": "Developing",
        "return": 0.078893,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
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        "active": false
      },
      {
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      },
      {
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      {
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        "active": true
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      {
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      },
      {
        "date": "2026-07-24",
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        "fair_value": 32473.283554,
        "relative_strength": 11.087797,
        "stage": 2,
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      },
      {
        "date": "2026-07-31",
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        "typical_volume": 797.45,
        "trend": 43075.080859,
        "fair_value": 32603.154648,
        "relative_strength": 6.613375,
        "stage": 2,
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        "modifier": "Established expansion",
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        "energy": 35.62611,
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      },
      {
        "date": "2026-08-07",
        "close": 46248.328125,
        "volume": 243,
        "typical_volume": 695.05,
        "trend": 43308.954948,
        "fair_value": 32740.966872,
        "relative_strength": 7.161707,
        "stage": 2,
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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."
    }
  }
}