{
  "ticker": {
    "uuid": "0cce10cb-f58f-4ee8-81cf-eb3c22f99770",
    "symbol": "LSIL",
    "name": "WisdomTree Silver 2x Daily Leveraged",
    "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": 4,
    "stage_name": "Declining",
    "phase": "4b",
    "phase_label": "Stage 4B \u00b7 Declining",
    "transition": "stage_4_declining",
    "transition_label": "Stage 4 decline intact",
    "confidence": 96.0,
    "architecture_regime": "downward_expansion",
    "architecture_regime_label": "Downward Expansion",
    "architecture_modifier": "Established contraction",
    "architecture_gate": "down",
    "architecture_direction": -65.46,
    "architecture_energy": 59.998,
    "architecture_maturity": 58.741,
    "architecture_confidence": 96,
    "architecture_tenure": "Developing",
    "architecture": {
      "interpretation": {
        "headline": "The weekly architecture is expanding downward.",
        "body": "Trend and Activity show sustained negative alignment with weak price acceptance. Repair requires persistent improvement across the structure, not merely one strong observation."
      },
      "scores": {
        "balance": 7.31,
        "rotation_up": 26.01,
        "upward_expansion": 10.52,
        "deceleration": 54.88,
        "rotation_down": 58.67,
        "downward_expansion": 86.19
      },
      "activity_lines": [
        10.722533,
        11.080727,
        13.347519,
        15.340232
      ],
      "activity_state": "Wide",
      "activity_direction": "Contracting",
      "rotation_direction": "Improving",
      "price_acceptance": -0.833333
    },
    "latest_close": 11.99,
    "trend_reference": 19.257167,
    "distance_from_trend": -0.377375,
    "trend_direction": "Weakening",
    "fair_value": 9.797394,
    "distance_from_fair_value": 0.223795,
    "fair_value_direction": "Weakening",
    "relative_strength": -40.871351,
    "relative_strength_direction": "Weakening",
    "price_momentum": -0.395239,
    "excess_performance": -0.56613,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": false,
        "value": -0.377375,
        "read": "Below"
      },
      {
        "label": "Trend direction",
        "positive": false,
        "value": -0.117666,
        "read": "Falling"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.223795,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -1.008397,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.408714,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.554555,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": false,
        "value": -0.395239,
        "read": "Negative"
      },
      {
        "label": "Volume balance",
        "positive": false,
        "value": 0.411211,
        "read": "Supply-led"
      }
    ],
    "volume": {
      "latest": 255077,
      "relative_activity": 1.492061,
      "balance": 0.411211,
      "dry_up": 1.47963,
      "accumulation_observations": 2,
      "distribution_observations": 4
    },
    "risk": {
      "range_context": 0.199679,
      "annualized_volatility": 0.989658,
      "from_high_reference": -0.816947,
      "from_low_reference": 0.575558
    },
    "levels": {
      "trend_reference": 19.257167,
      "fair_value_reference": 9.797394,
      "structural_low": 9.173,
      "invalidation": "Reclaiming a flat-to-rising Trend with improving relative strength is required before the declining diagnosis is repaired."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 24,
        "median_return": 0.020096,
        "positive_rate": 0.666667,
        "directional_follow_through": 0.333333,
        "median_excess_return": 0.005199,
        "regime_survival": 0.708333,
        "best_return": 0.315741,
        "worst_return": -0.397456,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 9,
        "median_return": -0.000163,
        "positive_rate": 0.444444,
        "directional_follow_through": 0.555556,
        "median_excess_return": -0.003531,
        "regime_survival": 0.444444,
        "best_return": 0.474684,
        "worst_return": -0.26813,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 6,
        "median_return": 0.145255,
        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
        "median_excess_return": 0.028226,
        "regime_survival": 0.333333,
        "best_return": 0.970274,
        "worst_return": -0.392106,
        "sufficient": true
      },
      {
        "horizon": "Full cycle",
        "sample_count": 4,
        "median_return": 0.605617,
        "positive_rate": 0.75,
        "directional_follow_through": 0.25,
        "median_excess_return": 0.32149,
        "regime_survival": 0.25,
        "best_return": 1.844713,
        "worst_return": -0.440306,
        "sufficient": false
      }
    ],
    "ledger": [
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        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2024-01-26",
        "end": "2024-03-15",
        "tenure": "Developing",
        "return": 0.221198,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
        "start": "2024-03-22",
        "end": "2024-04-05",
        "tenure": "New",
        "return": 0.215343,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2024-04-12",
        "end": "2024-07-26",
        "tenure": "Established",
        "return": -0.156278,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
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        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
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        "end": "2024-10-04",
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        "active": false
      },
      {
        "regime": "upward_expansion",
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      },
      {
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        "label": "Deceleration",
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        "end": "2025-02-07",
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        "active": false
      },
      {
        "regime": "upward_expansion",
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        "end": "2025-04-04",
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        "active": false
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      {
        "regime": "balance",
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        "tenure": "New",
        "return": 0.009593,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
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        "date": "2026-05-01",
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      },
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      },
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        "date": "2026-06-26",
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      },
      {
        "date": "2026-07-03",
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        "modifier": "Early contraction",
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      },
      {
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        "fair_value": 9.652407,
        "relative_strength": -44.931128,
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        "regime": "downward_expansion",
        "modifier": "Early contraction",
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        "direction": -73.94632,
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      },
      {
        "date": "2026-07-17",
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        "volume": 333522,
        "typical_volume": 178781.1,
        "trend": 20.832567,
        "fair_value": 9.680298,
        "relative_strength": -51.478657,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -79.461901,
        "energy": 89.024507,
        "activity_lines": [
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          12.362145,
          14.810271,
          17.192686
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      },
      {
        "date": "2026-07-24",
        "close": 10.522,
        "volume": 337560,
        "typical_volume": 182488.85,
        "trend": 20.365133,
        "fair_value": 9.715484,
        "relative_strength": -46.135221,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -68.231052,
        "energy": 79.433799,
        "activity_lines": [
          10.5332,
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          14.23991,
          16.527488
        ]
      },
      {
        "date": "2026-07-31",
        "close": 9.851,
        "volume": 85648,
        "typical_volume": 178467.45,
        "trend": 19.878333,
        "fair_value": 9.748532,
        "relative_strength": -49.920135,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -71.837995,
        "energy": 74.693121,
        "activity_lines": [
          10.239733,
          11.142582,
          13.663205,
          15.849157
        ]
      },
      {
        "date": "2026-08-07",
        "close": 11.99,
        "volume": 255077,
        "typical_volume": 170956.1,
        "trend": 19.257167,
        "fair_value": 9.797394,
        "relative_strength": -40.871351,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -65.459548,
        "energy": 59.997914,
        "activity_lines": [
          10.722533,
          11.080727,
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          15.340232
        ]
      }
    ],
    "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."
    }
  }
}