{
  "ticker": {
    "uuid": "35ac5393-03b3-42ff-b214-b8c0303d86ec",
    "symbol": "SP20",
    "name": "iShares S&P 500 Top 20 UCITS ETF USD Acc",
    "exchange": "MIL",
    "country": "IT",
    "assetType": "etf"
  },
  "methodBoundary": "The SM framework classifies the established weekly price path as the Core Trend. Faster and slower Trend views and Sharemaestro context describe that state but do not alter its direction.",
  "analysis": {
    "eligible": true,
    "as_of": "2026-08-07",
    "latest_close": 5.906,
    "direction": "positive",
    "state": "Positive across all Trend views",
    "is_fresh": false,
    "is_near_boundary": false,
    "direction_boundary": 4.821,
    "boundary_margin": 0.225057,
    "trend_agreement": "Fully aligned",
    "persistence": "Established",
    "direction_turnover": "Moderate",
    "annualized_volatility": 0.190301,
    "volatility_stability": 1.0629,
    "risk_context": 0.5255,
    "current_regime": {
      "move": 0.175323,
      "interruption": -0.074143,
      "interruption_label": "Deepest pullback inside regime"
    },
    "research_priority": 94.615,
    "interpretation": {
      "label": "Positive across all Trend views",
      "headline": "All measured Trend views are positive",
      "body": "The faster, intermediate, established and Core Trend views point in the same direction, giving the current regime broad agreement.",
      "age_context": "The current Core Trend is established.",
      "boundary_context": "The latest close is 22.5% above the decision boundary.",
      "stability_context": "Recent Core Trend turnover is moderate."
    },
    "chart_path": [
      {
        "date": "2025-12-19",
        "close": 5.231,
        "direction_boundary": 4.984,
        "core_momentum": 0.049559,
        "direction": "positive",
        "trend_agreement": 1.0,
        "volatility": 0.13584
      },
      {
        "date": "2025-12-26",
        "close": 5.283,
        "direction_boundary": 4.9935,
        "core_momentum": 0.057975,
        "direction": "positive",
        "trend_agreement": 1.0,
        "volatility": 0.133154
      },
      {
        "date": "2026-01-02",
        "close": 5.232,
        "direction_boundary": 5.005,
        "core_momentum": 0.045355,
        "direction": "positive",
        "trend_agreement": 1.0,
        "volatility": 0.134872
      },
      {
        "date": "2026-01-09",
        "close": 5.315,
        "direction_boundary": 4.9285,
        "core_momentum": 0.078421,
        "direction": "positive",
        "trend_agreement": 1.0,
        "volatility": 0.134973
      },
      {
        "date": "2026-01-16",
        "close": 5.275,
        "direction_boundary": 5.015,
        "core_momentum": 0.051844,
        "direction": "positive",
        "trend_agreement": 1.0,
        "volatility": 0.135528
      },
      {
        "date": "2026-01-23",
        "close": 5.175,
        "direction_boundary": 5.009,
        "core_momentum": 0.03314,
        "direction": "positive",
        "trend_agreement": 1.0,
        "volatility": 0.139207
      },
      {
        "date": "2026-01-30",
        "close": 5.158,
        "direction_boundary": 5.038,
        "core_momentum": 0.023819,
        "direction": "positive",
        "trend_agreement": 0.75,
        "volatility": 0.139526
      },
      {
        "date": "2026-02-06",
        "close": 5.072,
        "direction_boundary": 4.986,
        "core_momentum": 0.017248,
        "direction": "positive",
        "trend_agreement": 0.75,
        "volatility": 0.139579
      },
      {
        "date": "2026-02-13",
        "close": 4.9445,
        "direction_boundary": 5.001,
        "core_momentum": -0.011298,
        "direction": "negative",
        "trend_agreement": 0.5,
        "volatility": 0.143259
      },
      {
        "date": "2026-02-20",
        "close": 5.025,
        "direction_boundary": 4.9675,
        "core_momentum": 0.011575,
        "direction": "positive",
        "trend_agreement": 0.75,
        "volatility": 0.142525
      },
      {
        "date": "2026-02-27",
        "close": 4.984,
        "direction_boundary": 4.7235,
        "core_momentum": 0.05515,
        "direction": "positive",
        "trend_agreement": 0.75,
        "volatility": 0.142985
      },
      {
        "date": "2026-03-06",
        "close": 5.132,
        "direction_boundary": 4.347,
        "core_momentum": 0.180584,
        "direction": "positive",
        "trend_agreement": 0.75,
        "volatility": 0.147992
      },
      {
        "date": "2026-03-13",
        "close": 5.068,
        "direction_boundary": 4.2755,
        "core_momentum": 0.185358,
        "direction": "positive",
        "trend_agreement": 0.75,
        "volatility": 0.146012
      },
      {
        "date": "2026-03-20",
        "close": 4.9085,
        "direction_boundary": 4.3095,
        "core_momentum": 0.138995,
        "direction": "positive",
        "trend_agreement": 0.5,
        "volatility": 0.151935
      },
      {
        "date": "2026-03-27",
        "close": 4.7515,
        "direction_boundary": 4.2395,
        "core_momentum": 0.120769,
        "direction": "positive",
        "trend_agreement": 0.5,
        "volatility": 0.158059
      },
      {
        "date": "2026-04-03",
        "close": 4.8985,
        "direction_boundary": 3.856,
        "core_momentum": 0.270358,
        "direction": "positive",
        "trend_agreement": 0.5,
        "volatility": 0.162715
      },
      {
        "date": "2026-04-10",
        "close": 5.077,
        "direction_boundary": 3.885,
        "core_momentum": 0.306821,
        "direction": "positive",
        "trend_agreement": 0.5,
        "volatility": 0.170829
      },
      {
        "date": "2026-04-17",
        "close": 5.339,
        "direction_boundary": 3.8065,
        "core_momentum": 0.402601,
        "direction": "positive",
        "trend_agreement": 1.0,
        "volatility": 0.183715
      },
      {
        "date": "2026-04-24",
        "close": 5.396,
        "direction_boundary": 4.0155,
        "core_momentum": 0.343793,
        "direction": "positive",
        "trend_agreement": 1.0,
        "volatility": 0.181938
      },
      {
        "date": "2026-05-01",
        "close": 5.401,
        "direction_boundary": 4.176,
        "core_momentum": 0.293343,
        "direction": "positive",
        "trend_agreement": 0.75,
        "volatility": 0.16996
      },
      {
        "date": "2026-05-08",
        "close": 5.648,
        "direction_boundary": 4.172,
        "core_momentum": 0.353787,
        "direction": "positive",
        "trend_agreement": 1.0,
        "volatility": 0.168973
      },
      {
        "date": "2026-05-15",
        "close": 5.823,
        "direction_boundary": 4.472,
        "core_momentum": 0.302102,
        "direction": "positive",
        "trend_agreement": 1.0,
        "volatility": 0.172283
      },
      {
        "date": "2026-05-22",
        "close": 5.801,
        "direction_boundary": 4.3095,
        "core_momentum": 0.346096,
        "direction": "positive",
        "trend_agreement": 1.0,
        "volatility": 0.169787
      },
      {
        "date": "2026-05-29",
        "close": 5.83,
        "direction_boundary": 4.4025,
        "core_momentum": 0.324248,
        "direction": "positive",
        "trend_agreement": 1.0,
        "volatility": 0.163992
      },
      {
        "date": "2026-06-05",
        "close": 5.747,
        "direction_boundary": 4.462,
        "core_momentum": 0.287987,
        "direction": "positive",
        "trend_agreement": 1.0,
        "volatility": 0.165614
      },
      {
        "date": "2026-06-12",
        "close": 5.573,
        "direction_boundary": 4.414,
        "core_momentum": 0.262574,
        "direction": "positive",
        "trend_agreement": 1.0,
        "volatility": 0.16759
      },
      {
        "date": "2026-06-19",
        "close": 5.679,
        "direction_boundary": 4.3955,
        "core_momentum": 0.292003,
        "direction": "positive",
        "trend_agreement": 1.0,
        "volatility": 0.169096
      },
      {
        "date": "2026-06-26",
        "close": 5.488,
        "direction_boundary": 4.51,
        "core_momentum": 0.216851,
        "direction": "positive",
        "trend_agreement": 1.0,
        "volatility": 0.176484
      },
      {
        "date": "2026-07-03",
        "close": 5.605,
        "direction_boundary": 4.521,
        "core_momentum": 0.23977,
        "direction": "positive",
        "trend_agreement": 1.0,
        "volatility": 0.17775
      },
      {
        "date": "2026-07-10",
        "close": 5.74,
        "direction_boundary": 4.5895,
        "core_momentum": 0.250681,
        "direction": "positive",
        "trend_agreement": 1.0,
        "volatility": 0.179282
      },
      {
        "date": "2026-07-17",
        "close": 5.672,
        "direction_boundary": 4.657,
        "core_momentum": 0.217951,
        "direction": "positive",
        "trend_agreement": 1.0,
        "volatility": 0.179895
      },
      {
        "date": "2026-07-24",
        "close": 5.64,
        "direction_boundary": 4.7065,
        "core_momentum": 0.198343,
        "direction": "positive",
        "trend_agreement": 1.0,
        "volatility": 0.177565
      },
      {
        "date": "2026-07-31",
        "close": 5.584,
        "direction_boundary": 4.716,
        "core_momentum": 0.184054,
        "direction": "positive",
        "trend_agreement": 1.0,
        "volatility": 0.178303
      },
      {
        "date": "2026-08-07",
        "close": 5.906,
        "direction_boundary": 4.821,
        "core_momentum": 0.225057,
        "direction": "positive",
        "trend_agreement": 1.0,
        "volatility": 0.190301
      }
    ],
    "price_history": [
      {
        "date": "2024-12-20",
        "close": 4.984,
        "volume": 77880
      },
      {
        "date": "2024-12-27",
        "close": 4.9935,
        "volume": 37602
      },
      {
        "date": "2025-01-03",
        "close": 5.005,
        "volume": 44404
      },
      {
        "date": "2025-01-10",
        "close": 4.9285,
        "volume": 127937
      },
      {
        "date": "2025-01-17",
        "close": 5.015,
        "volume": 117939
      },
      {
        "date": "2025-01-24",
        "close": 5.009,
        "volume": 84120
      },
      {
        "date": "2025-01-31",
        "close": 5.038,
        "volume": 97843
      },
      {
        "date": "2025-02-07",
        "close": 4.986,
        "volume": 122495
      },
      {
        "date": "2025-02-14",
        "close": 5.001,
        "volume": 46459
      },
      {
        "date": "2025-02-21",
        "close": 4.9675,
        "volume": 93603
      },
      {
        "date": "2025-02-28",
        "close": 4.7235,
        "volume": 694137
      },
      {
        "date": "2025-03-07",
        "close": 4.347,
        "volume": 488392
      },
      {
        "date": "2025-03-14",
        "close": 4.2755,
        "volume": 336812
      },
      {
        "date": "2025-03-21",
        "close": 4.3095,
        "volume": 155865
      },
      {
        "date": "2025-03-28",
        "close": 4.2395,
        "volume": 46366
      },
      {
        "date": "2025-04-04",
        "close": 3.856,
        "volume": 314350
      },
      {
        "date": "2025-04-11",
        "close": 3.885,
        "volume": 273653
      },
      {
        "date": "2025-04-18",
        "close": 3.8065,
        "volume": 65091
      },
      {
        "date": "2025-04-25",
        "close": 4.0155,
        "volume": 226796
      },
      {
        "date": "2025-05-02",
        "close": 4.176,
        "volume": 40315
      },
      {
        "date": "2025-05-09",
        "close": 4.172,
        "volume": 369660
      },
      {
        "date": "2025-05-16",
        "close": 4.472,
        "volume": 254485
      },
      {
        "date": "2025-05-23",
        "close": 4.3095,
        "volume": 96203
      },
      {
        "date": "2025-05-30",
        "close": 4.4025,
        "volume": 91432
      },
      {
        "date": "2025-06-06",
        "close": 4.462,
        "volume": 56292
      },
      {
        "date": "2025-06-13",
        "close": 4.414,
        "volume": 53933
      },
      {
        "date": "2025-06-20",
        "close": 4.3955,
        "volume": 40604
      },
      {
        "date": "2025-06-27",
        "close": 4.51,
        "volume": 41604
      },
      {
        "date": "2025-07-04",
        "close": 4.521,
        "volume": 126994
      },
      {
        "date": "2025-07-11",
        "close": 4.5895,
        "volume": 64317
      },
      {
        "date": "2025-07-18",
        "close": 4.657,
        "volume": 90246
      },
      {
        "date": "2025-07-25",
        "close": 4.7065,
        "volume": 19013
      },
      {
        "date": "2025-08-01",
        "close": 4.716,
        "volume": 80193
      },
      {
        "date": "2025-08-08",
        "close": 4.821,
        "volume": 34889
      },
      {
        "date": "2025-08-15",
        "close": 4.8935,
        "volume": 18131
      },
      {
        "date": "2025-08-22",
        "close": 4.81,
        "volume": 38276
      },
      {
        "date": "2025-08-29",
        "close": 4.8415,
        "volume": 23089
      },
      {
        "date": "2025-09-05",
        "close": 4.88,
        "volume": 15915
      },
      {
        "date": "2025-09-12",
        "close": 4.9945,
        "volume": 11123
      },
      {
        "date": "2025-09-19",
        "close": 5.049,
        "volume": 32156
      },
      {
        "date": "2025-09-26",
        "close": 5.044,
        "volume": 25046
      },
      {
        "date": "2025-10-03",
        "close": 5.123,
        "volume": 37478
      },
      {
        "date": "2025-10-10",
        "close": 5.114,
        "volume": 273824
      },
      {
        "date": "2025-10-17",
        "close": 5.055,
        "volume": 88581
      },
      {
        "date": "2025-10-24",
        "close": 5.167,
        "volume": 245102
      },
      {
        "date": "2025-10-31",
        "close": 5.414,
        "volume": 60033
      },
      {
        "date": "2025-11-07",
        "close": 5.184,
        "volume": 95797
      },
      {
        "date": "2025-11-14",
        "close": 5.269,
        "volume": 63981
      },
      {
        "date": "2025-11-21",
        "close": 5.175,
        "volume": 88392
      },
      {
        "date": "2025-11-28",
        "close": 5.359,
        "volume": 70697
      },
      {
        "date": "2025-12-05",
        "close": 5.344,
        "volume": 65063
      },
      {
        "date": "2025-12-12",
        "close": 5.21,
        "volume": 36457
      },
      {
        "date": "2025-12-19",
        "close": 5.231,
        "volume": 22616
      },
      {
        "date": "2025-12-26",
        "close": 5.283,
        "volume": 19376
      },
      {
        "date": "2026-01-02",
        "close": 5.232,
        "volume": 43170
      },
      {
        "date": "2026-01-09",
        "close": 5.315,
        "volume": 49319
      },
      {
        "date": "2026-01-16",
        "close": 5.275,
        "volume": 43219
      },
      {
        "date": "2026-01-23",
        "close": 5.175,
        "volume": 56775
      },
      {
        "date": "2026-01-30",
        "close": 5.158,
        "volume": 59579
      },
      {
        "date": "2026-02-06",
        "close": 5.072,
        "volume": 92465
      },
      {
        "date": "2026-02-13",
        "close": 4.9445,
        "volume": 157057
      },
      {
        "date": "2026-02-20",
        "close": 5.025,
        "volume": 83631
      },
      {
        "date": "2026-02-27",
        "close": 4.984,
        "volume": 41235
      },
      {
        "date": "2026-03-06",
        "close": 5.132,
        "volume": 100012
      },
      {
        "date": "2026-03-13",
        "close": 5.068,
        "volume": 62779
      },
      {
        "date": "2026-03-20",
        "close": 4.9085,
        "volume": 26728
      },
      {
        "date": "2026-03-27",
        "close": 4.7515,
        "volume": 42668
      },
      {
        "date": "2026-04-03",
        "close": 4.8985,
        "volume": 10033
      },
      {
        "date": "2026-04-10",
        "close": 5.077,
        "volume": 32952
      },
      {
        "date": "2026-04-17",
        "close": 5.339,
        "volume": 40094
      },
      {
        "date": "2026-04-24",
        "close": 5.396,
        "volume": 29086
      },
      {
        "date": "2026-05-01",
        "close": 5.401,
        "volume": 42029
      },
      {
        "date": "2026-05-08",
        "close": 5.648,
        "volume": 46946
      },
      {
        "date": "2026-05-15",
        "close": 5.823,
        "volume": 103346
      },
      {
        "date": "2026-05-22",
        "close": 5.801,
        "volume": 260224
      },
      {
        "date": "2026-05-29",
        "close": 5.83,
        "volume": 61216
      },
      {
        "date": "2026-06-05",
        "close": 5.747,
        "volume": 18579
      },
      {
        "date": "2026-06-12",
        "close": 5.573,
        "volume": 31803
      },
      {
        "date": "2026-06-19",
        "close": 5.679,
        "volume": 28367
      },
      {
        "date": "2026-06-26",
        "close": 5.488,
        "volume": 3887
      },
      {
        "date": "2026-07-03",
        "close": 5.605,
        "volume": 0
      },
      {
        "date": "2026-07-10",
        "close": 5.74,
        "volume": 187267
      },
      {
        "date": "2026-07-17",
        "close": 5.672,
        "volume": 163754
      },
      {
        "date": "2026-07-24",
        "close": 5.64,
        "volume": 199755
      },
      {
        "date": "2026-07-31",
        "close": 5.584,
        "volume": 445979
      },
      {
        "date": "2026-08-07",
        "close": 5.906,
        "volume": 190107
      }
    ],
    "sharemaestro_context": {
      "trend": 5.378033,
      "fair_value": 4.98882,
      "market_activity": 30.396456,
      "market_dynamics": 0.237709,
      "relative_strength": -3.931829
    },
    "historical_outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 6,
        "median_return": 0.018666,
        "directional_follow_through": 0.6667,
        "regime_survival": 0.8333,
        "conditional_difference": 0.018394,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 2,
        "median_return": 0.00036,
        "directional_follow_through": 0.5,
        "regime_survival": 1.0,
        "conditional_difference": -0.062011,
        "sufficient": false
      },
      {
        "horizon": "Longer term",
        "sample_count": 1,
        "median_return": 0.085643,
        "directional_follow_through": 1.0,
        "regime_survival": 1.0,
        "conditional_difference": 0.004367,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
        "sample_count": 0,
        "median_return": null,
        "directional_follow_through": null,
        "regime_survival": null,
        "conditional_difference": null,
        "sufficient": false
      }
    ],
    "regime_history": [
      {
        "direction": "positive",
        "start": "2025-12-19",
        "end": "2026-02-06",
        "tenure": "Developing",
        "return": -0.030396
      },
      {
        "direction": "negative",
        "start": "2026-02-13",
        "end": "2026-02-13",
        "tenure": "Brief",
        "return": 0.0
      },
      {
        "direction": "positive",
        "start": "2026-02-20",
        "end": "2026-08-07",
        "tenure": "Established",
        "return": 0.175323
      }
    ]
  }
}