{
  "ticker": {
    "uuid": "1be4fd94-b37a-417c-8e05-9bad75b40b45",
    "symbol": "WNER",
    "name": "WisdomTree New Economy Real Estate UCITS ETF - USD",
    "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": 3,
    "stage_name": "Distribution",
    "phase": "3b",
    "phase_label": "Stage 3B \u00b7 Distribution",
    "transition": "stage_3_churning",
    "transition_label": "Stage 3 range intact",
    "confidence": 69.612,
    "architecture_regime": "deceleration",
    "architecture_regime_label": "Deceleration",
    "architecture_modifier": "Recompressing",
    "architecture_gate": "up",
    "architecture_direction": 1.281,
    "architecture_energy": 19.157,
    "architecture_maturity": 36.02,
    "architecture_confidence": 74.85,
    "architecture_tenure": "Developing",
    "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": 59.13,
        "rotation_up": 14.98,
        "upward_expansion": 42.46,
        "deceleration": 77.97,
        "rotation_down": 43.01,
        "downward_expansion": 36.46
      },
      "activity_lines": [
        28.801833,
        29.080511,
        29.477754,
        29.159376
      ],
      "activity_state": "Compressed",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": -0.5
    },
    "latest_close": 28.975,
    "trend_reference": 28.733796,
    "distance_from_trend": 0.008394,
    "trend_direction": "Improving",
    "fair_value": 22.415503,
    "distance_from_fair_value": 0.292632,
    "fair_value_direction": "Weakening",
    "relative_strength": -2.72838,
    "relative_strength_direction": "Weakening",
    "price_momentum": 0.07285,
    "excess_performance": 0.021615,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.008394,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.044196,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.292632,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.099311,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.027284,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.132488,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.07285,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": false,
        "value": 0.035975,
        "read": "Supply-led"
      }
    ],
    "volume": {
      "latest": 12,
      "relative_activity": 0.02887,
      "balance": 0.035975,
      "dry_up": 2.703597,
      "accumulation_observations": 0,
      "distribution_observations": 3
    },
    "risk": {
      "range_context": 0.032129,
      "annualized_volatility": 0.202196,
      "from_high_reference": -0.095101,
      "from_low_reference": 0.301501
    },
    "levels": {
      "trend_reference": 28.733796,
      "fair_value_reference": 22.415503,
      "structural_low": 25.48,
      "invalidation": "A decisive breakout above range resistance with renewed RS leadership invalidates the distribution reading; a range-low break confirms deterioration."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 7,
        "median_return": 0.007139,
        "positive_rate": 0.714286,
        "directional_follow_through": 0.714286,
        "median_excess_return": -0.015615,
        "regime_survival": 0.571429,
        "best_return": 0.06873,
        "worst_return": -0.08316,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 3,
        "median_return": -0.016909,
        "positive_rate": 0.333333,
        "directional_follow_through": 0.333333,
        "median_excess_return": -0.095433,
        "regime_survival": 0.0,
        "best_return": 0.092738,
        "worst_return": -0.061635,
        "sufficient": false
      },
      {
        "horizon": "Extended",
        "sample_count": 3,
        "median_return": 0.074228,
        "positive_rate": 0.666667,
        "directional_follow_through": 0.666667,
        "median_excess_return": 0.000799,
        "regime_survival": 0.0,
        "best_return": 0.207834,
        "worst_return": -0.04547,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
        "sample_count": 1,
        "median_return": 0.029109,
        "positive_rate": 1.0,
        "directional_follow_through": 1.0,
        "median_excess_return": -0.109883,
        "regime_survival": 0.0,
        "best_return": 0.029109,
        "worst_return": 0.029109,
        "sufficient": false
      }
    ],
    "ledger": [
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2024-02-02",
        "end": "2024-03-08",
        "tenure": "Developing",
        "return": 0.042608,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2024-03-15",
        "end": "2024-04-26",
        "tenure": "Developing",
        "return": -0.045131,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2024-05-03",
        "end": "2024-05-17",
        "tenure": "New",
        "return": 0.043773,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2024-05-24",
        "end": "2024-07-05",
        "tenure": "Developing",
        "return": 0.008925,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
        "start": "2024-07-12",
        "end": "2024-07-26",
        "tenure": "New",
        "return": -0.018004,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
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        "end": "2024-10-25",
        "tenure": "Established",
        "return": 0.05184,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
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        "end": "2024-12-13",
        "tenure": "Developing",
        "return": -0.042833,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
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        "end": "2025-01-10",
        "tenure": "New",
        "return": -0.032693,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2025-01-17",
        "end": "2025-05-16",
        "tenure": "Established",
        "return": 0.036596,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
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        "end": "2025-06-13",
        "tenure": "New",
        "return": 0.067208,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
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        "end": "2025-11-21",
        "tenure": "Established",
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        "active": false
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      {
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        "active": false
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      {
        "regime": "upward_expansion",
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        "active": false
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        "return": 0.003985,
        "active": true
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        "relative_strength": 7.455565,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 64.498227,
        "energy": 77.67233,
        "activity_lines": [
          29.219226,
          28.293987,
          27.896291,
          27.500998
        ]
      },
      {
        "date": "2026-05-08",
        "close": 29.896368,
        "volume": 439,
        "typical_volume": 3766.0,
        "trend": 27.242957,
        "fair_value": 21.478147,
        "relative_strength": 10.520462,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 72.268549,
        "energy": 82.203411,
        "activity_lines": [
          29.580037,
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          28.127327,
          27.67722
        ]
      },
      {
        "date": "2026-05-15",
        "close": 29.8025,
        "volume": 1056,
        "typical_volume": 3818.7,
        "trend": 27.311324,
        "fair_value": 21.553799,
        "relative_strength": 10.13351,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 68.829918,
        "energy": 78.435659,
        "activity_lines": [
          29.695134,
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          27.842352
        ]
      },
      {
        "date": "2026-05-22",
        "close": 30.695883,
        "volume": 16,
        "typical_volume": 3817.75,
        "trend": 27.390157,
        "fair_value": 21.637557,
        "relative_strength": 10.016896,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 79.604772,
        "energy": 77.451781,
        "activity_lines": [
          30.030025,
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          28.060711
        ]
      },
      {
        "date": "2026-05-29",
        "close": 31.297375,
        "volume": 0,
        "typical_volume": 3806.9,
        "trend": 27.517621,
        "fair_value": 21.721051,
        "relative_strength": 12.25052,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
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        "energy": 77.402418,
        "activity_lines": [
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          28.312789
        ]
      },
      {
        "date": "2026-06-05",
        "close": 30.549841,
        "volume": 0,
        "typical_volume": 3675.85,
        "trend": 27.65095,
        "fair_value": 21.800049,
        "relative_strength": 9.606924,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 65.232588,
        "energy": 61.483346,
        "activity_lines": [
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          28.508416
        ]
      },
      {
        "date": "2026-06-12",
        "close": 30.960737,
        "volume": 0,
        "typical_volume": 191.15,
        "trend": 27.827931,
        "fair_value": 21.87909,
        "relative_strength": 9.582973,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 68.701494,
        "energy": 63.962301,
        "activity_lines": [
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      },
      {
        "date": "2026-06-19",
        "close": 30.361721,
        "volume": 382,
        "typical_volume": 209.95,
        "trend": 28.024333,
        "fair_value": 21.960041,
        "relative_strength": 8.232813,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
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        "energy": 53.670524,
        "activity_lines": [
          30.706114,
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        ]
      },
      {
        "date": "2026-06-26",
        "close": 29.804785,
        "volume": 0,
        "typical_volume": 207.9,
        "trend": 28.154093,
        "fair_value": 22.03375,
        "relative_strength": 4.563349,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 57.062634,
        "energy": 41.632865,
        "activity_lines": [
          30.383338,
          30.383141,
          29.594984,
          29.000289
        ]
      },
      {
        "date": "2026-07-03",
        "close": 29.0975,
        "volume": 0,
        "typical_volume": 207.6,
        "trend": 28.258043,
        "fair_value": 22.101709,
        "relative_strength": 0.364512,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 40.184981,
        "energy": 25.282749,
        "activity_lines": [
          29.884208,
          30.180388,
          29.610727,
          29.061154
        ]
      },
      {
        "date": "2026-07-10",
        "close": 28.860001,
        "volume": 12,
        "typical_volume": 202.25,
        "trend": 28.357883,
        "fair_value": 22.16352,
        "relative_strength": 1.091605,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 23.190898,
        "energy": 23.49129,
        "activity_lines": [
          29.452569,
          29.940727,
          29.60084,
          29.09999
        ]
      },
      {
        "date": "2026-07-17",
        "close": 28.280001,
        "volume": 2295,
        "typical_volume": 306.95,
        "trend": 28.458083,
        "fair_value": 22.221843,
        "relative_strength": -1.978419,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 1.870332,
        "energy": 22.868489,
        "activity_lines": [
          28.940253,
          29.603878,
          29.532083,
          29.094965
        ]
      },
      {
        "date": "2026-07-24",
        "close": 29.1175,
        "volume": 179,
        "typical_volume": 315.5,
        "trend": 28.566506,
        "fair_value": 22.285381,
        "relative_strength": -0.479582,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 4.823268,
        "energy": 22.953328,
        "activity_lines": [
          28.885819,
          29.44869,
          29.543255,
          29.137508
        ]
      },
      {
        "date": "2026-07-31",
        "close": 28.594999,
        "volume": 2009,
        "typical_volume": 415.95,
        "trend": 28.664546,
        "fair_value": 22.348189,
        "relative_strength": -3.584289,
        "stage": 3,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": -2.617633,
        "energy": 22.434758,
        "activity_lines": [
          28.740167,
          29.210956,
          29.496284,
          29.139347
        ]
      },
      {
        "date": "2026-08-07",
        "close": 28.975,
        "volume": 12,
        "typical_volume": 415.65,
        "trend": 28.733796,
        "fair_value": 22.415503,
        "relative_strength": -2.72838,
        "stage": 3,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 1.280973,
        "energy": 19.156556,
        "activity_lines": [
          28.801833,
          29.080511,
          29.477754,
          29.159376
        ]
      }
    ],
    "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."
    }
  }
}