{
  "ticker": {
    "uuid": "0d58753a-72fd-408d-882b-0fb419d7fd11",
    "symbol": "SNFL",
    "name": "Leverage Shares -1x Netflix ETP Securities",
    "exchange": "LSE",
    "country": "GB",
    "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": "^FTSE",
    "stage": 1,
    "stage_name": "Basing",
    "phase": "1c",
    "phase_label": "Stage 1C \u00b7 Breakout watch",
    "transition": "stage_1_to_2_watch",
    "transition_label": "Stage 1 \u2192 2 watch",
    "confidence": 91.161,
    "architecture_regime": "upward_expansion",
    "architecture_regime_label": "Upward Expansion",
    "architecture_modifier": "Early expansion",
    "architecture_gate": "up",
    "architecture_direction": 63.9,
    "architecture_energy": 62.807,
    "architecture_maturity": 30.061,
    "architecture_confidence": 84.082,
    "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": 19.71,
        "rotation_up": 60.92,
        "upward_expansion": 82.46,
        "deceleration": 66.31,
        "rotation_down": 19.49,
        "downward_expansion": 11.46
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      "activity_lines": [
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      "activity_state": "Moderate",
      "activity_direction": "Contracting",
      "rotation_direction": "Stable",
      "price_acceptance": 0.5
    },
    "latest_close": 299.0,
    "trend_reference": 273.166667,
    "distance_from_trend": 0.09457,
    "trend_direction": "Improving",
    "fair_value": 364.927795,
    "distance_from_fair_value": -0.18066,
    "fair_value_direction": "Improving",
    "relative_strength": 9.336298,
    "relative_strength_direction": "Improving",
    "price_momentum": 0.038194,
    "excess_performance": -0.013041,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.09457,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.076024,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": false,
        "value": -0.18066,
        "read": "Below anchor"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.181137,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.093363,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.04783,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.038194,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 99.1,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 0,
      "relative_activity": 0.0,
      "balance": 99.1,
      "dry_up": 1.462451,
      "accumulation_observations": 2,
      "distribution_observations": 0
    },
    "risk": {
      "range_context": 0.048109,
      "annualized_volatility": 0.41192,
      "from_high_reference": -0.10479,
      "from_low_reference": 0.557292
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    "levels": {
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      "structural_low": 212.0,
      "invalidation": "A renewed decline below the structural range low, widening the discount to current Fair Value while Trend falls, weakens the base diagnosis."
    },
    "outcomes": [
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        "horizon": "Near term",
        "sample_count": 11,
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        "sufficient": true
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        "horizon": "Full cycle",
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        "energy": 54.320097,
        "activity_lines": [
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      },
      {
        "date": "2026-04-24",
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        "volume": 11,
        "typical_volume": 703.5,
        "trend": 249.2287,
        "fair_value": 408.128116,
        "relative_strength": -0.811163,
        "stage": 1,
        "regime": "rotation_down",
        "modifier": "Supply rotation",
        "gate": "mixed",
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      },
      {
        "date": "2026-05-01",
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        "volume": 11,
        "typical_volume": 685.35,
        "trend": 250.095366,
        "fair_value": 403.660968,
        "relative_strength": -3.710476,
        "stage": 1,
        "regime": "rotation_down",
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        "gate": "mixed",
        "direction": -32.705187,
        "energy": 38.699785,
        "activity_lines": [
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      },
      {
        "date": "2026-05-08",
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        "volume": 0,
        "typical_volume": 678.2,
        "trend": 251.962033,
        "fair_value": 399.559206,
        "relative_strength": 4.553273,
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        "gate": "mixed",
        "direction": -12.778405,
        "energy": 15.869185,
        "activity_lines": [
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      },
      {
        "date": "2026-05-15",
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        "volume": 0,
        "typical_volume": 669.15,
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        "fair_value": 395.945424,
        "relative_strength": 8.091237,
        "stage": 1,
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        "activity_lines": [
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      },
      {
        "date": "2026-05-22",
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        "volume": 0,
        "typical_volume": 668.85,
        "trend": 252.5,
        "fair_value": 392.225071,
        "relative_strength": 2.431964,
        "stage": 1,
        "regime": "balance",
        "modifier": "Balance after decline",
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        "energy": 16.932948,
        "activity_lines": [
          254.6,
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      },
      {
        "date": "2026-05-29",
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        "volume": 1,
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        "trend": 253.866667,
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        "relative_strength": 4.870077,
        "stage": 1,
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        "modifier": "Balance after decline",
        "gate": "mixed",
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        "energy": 30.248506,
        "activity_lines": [
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      },
      {
        "date": "2026-06-05",
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        "volume": 0,
        "typical_volume": 407.6,
        "trend": 255.633333,
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        "relative_strength": 12.136452,
        "stage": 1,
        "regime": "rotation_up",
        "modifier": "Structural repair",
        "gate": "mixed",
        "direction": 54.477163,
        "energy": 56.576653,
        "activity_lines": [
          265.866667,
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          254.5,
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      },
      {
        "date": "2026-06-12",
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        "volume": 0,
        "typical_volume": 324.1,
        "trend": 257.6,
        "fair_value": 383.645744,
        "relative_strength": 11.454599,
        "stage": 1,
        "regime": "rotation_up",
        "modifier": "Emerging rotation",
        "gate": "mixed",
        "direction": 56.020213,
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      {
        "date": "2026-06-19",
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        "volume": 0,
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        "relative_strength": 18.098693,
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        "modifier": "Emerging rotation",
        "gate": "up",
        "direction": 82.561149,
        "energy": 88.329163,
        "activity_lines": [
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      },
      {
        "date": "2026-06-26",
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        "volume": 625,
        "typical_volume": 158.3,
        "trend": 262.3,
        "fair_value": 378.806001,
        "relative_strength": 19.604976,
        "stage": 1,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 91.449717,
        "energy": 96.155611,
        "activity_lines": [
          291.733333,
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      },
      {
        "date": "2026-07-03",
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        "volume": 0,
        "typical_volume": 158.25,
        "trend": 264.0,
        "fair_value": 376.40536,
        "relative_strength": 11.392921,
        "stage": 1,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 67.745693,
        "energy": 87.04351,
        "activity_lines": [
          293.866667,
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      },
      {
        "date": "2026-07-10",
        "close": 307.0,
        "volume": 5,
        "typical_volume": 156.3,
        "trend": 265.833333,
        "fair_value": 374.282763,
        "relative_strength": 18.88812,
        "stage": 1,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 81.338303,
        "energy": 91.757661,
        "activity_lines": [
          299.333333,
          288.781818,
          271.6,
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      },
      {
        "date": "2026-07-17",
        "close": 326.0,
        "volume": 360,
        "typical_volume": 135.25,
        "trend": 268.333333,
        "fair_value": 372.057603,
        "relative_strength": 24.213192,
        "stage": 1,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 90.286643,
        "energy": 93.975578,
        "activity_lines": [
          309.266667,
          297.236364,
          277.809524,
          272.425806
        ]
      },
      {
        "date": "2026-07-24",
        "close": 320.0,
        "volume": 3,
        "typical_volume": 94.35,
        "trend": 270.533333,
        "fair_value": 369.756321,
        "relative_strength": 19.723738,
        "stage": 1,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 77.348298,
        "energy": 85.140414,
        "activity_lines": [
          314.2,
          303.309091,
          283.085714,
          275.75914
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      },
      {
        "date": "2026-07-31",
        "close": 310.0,
        "volume": 7,
        "typical_volume": 63.55,
        "trend": 272.166667,
        "fair_value": 367.430199,
        "relative_strength": 14.130764,
        "stage": 1,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 66.207647,
        "energy": 75.693688,
        "activity_lines": [
          314.2,
          306.527273,
          287.014286,
          278.305376
        ]
      },
      {
        "date": "2026-08-07",
        "close": 299.0,
        "volume": 0,
        "typical_volume": 63.25,
        "trend": 273.166667,
        "fair_value": 364.927795,
        "relative_strength": 9.336298,
        "stage": 1,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 63.899981,
        "energy": 62.807429,
        "activity_lines": [
          310.266667,
          306.763636,
          289.6,
          280.036559
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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."
    }
  }
}