{
  "ticker": {
    "uuid": "22609a8b-912a-4400-99e0-9ec8b05b5fb1",
    "symbol": "XESU",
    "name": "Xtrackers MSCI USA ESG UCITS ETF 1C",
    "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": 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": 83.525,
    "architecture_energy": 53.734,
    "architecture_maturity": 54.58,
    "architecture_confidence": 65.089,
    "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": 26.3,
        "rotation_up": 47.91,
        "upward_expansion": 79.18,
        "deceleration": 70.86,
        "rotation_down": 28.82,
        "downward_expansion": 8.18
      },
      "activity_lines": [
        60.464333,
        60.281818,
        59.756191,
        58.601237
      ],
      "activity_state": "Moderate",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": 0.5
    },
    "latest_close": 62.494999,
    "trend_reference": 57.360667,
    "distance_from_trend": 0.08951,
    "trend_direction": "Improving",
    "fair_value": 49.131538,
    "distance_from_fair_value": 0.271994,
    "fair_value_direction": "Improving",
    "relative_strength": 1.882782,
    "relative_strength_direction": "Weakening",
    "price_momentum": 0.135344,
    "excess_performance": 0.084109,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.08951,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.024554,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.271994,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.027067,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.018828,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.008407,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.135344,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 1.529342,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 15737,
      "relative_activity": 0.29196,
      "balance": 1.529342,
      "dry_up": 0.466691,
      "accumulation_observations": 1,
      "distribution_observations": 0
    },
    "risk": {
      "range_context": 0.019868,
      "annualized_volatility": 0.14427,
      "from_high_reference": -0.153957,
      "from_low_reference": 0.224432
    },
    "levels": {
      "trend_reference": 57.360667,
      "fair_value_reference": 49.131538,
      "structural_low": 51.040001,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 13,
        "median_return": 0.00266,
        "positive_rate": 0.538462,
        "directional_follow_through": 0.538462,
        "median_excess_return": -0.0122,
        "regime_survival": 0.384615,
        "best_return": 0.110248,
        "worst_return": -0.076019,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 8,
        "median_return": 0.00257,
        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
        "median_excess_return": -0.005665,
        "regime_survival": 0.0,
        "best_return": 0.129599,
        "worst_return": -0.056878,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 6,
        "median_return": 0.068024,
        "positive_rate": 0.833333,
        "directional_follow_through": 0.833333,
        "median_excess_return": 0.004252,
        "regime_survival": 0.0,
        "best_return": 0.179681,
        "worst_return": -0.029308,
        "sufficient": true
      },
      {
        "horizon": "Full cycle",
        "sample_count": 4,
        "median_return": 0.107772,
        "positive_rate": 0.75,
        "directional_follow_through": 0.75,
        "median_excess_return": 0.023096,
        "regime_survival": 0.25,
        "best_return": 0.325314,
        "worst_return": -0.004514,
        "sufficient": false
      }
    ],
    "ledger": [
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2024-10-18",
        "end": "2025-02-21",
        "tenure": "Established",
        "return": 0.054866,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2025-02-28",
        "end": "2025-02-28",
        "tenure": "New",
        "return": 0.0,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2025-03-07",
        "end": "2025-04-04",
        "tenure": "Developing",
        "return": -0.080392,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2025-04-11",
        "end": "2025-05-30",
        "tenure": "Developing",
        "return": 0.107439,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-06-06",
        "end": "2025-07-04",
        "tenure": "Developing",
        "return": 0.02599,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
        "start": "2025-07-11",
        "end": "2025-08-15",
        "tenure": "Developing",
        "return": 0.026684,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-08-22",
        "end": "2025-11-21",
        "tenure": "Established",
        "return": 0.059628,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2025-11-28",
        "end": "2026-01-23",
        "tenure": "Developing",
        "return": 0.001774,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2026-01-30",
        "end": "2026-02-20",
        "tenure": "New",
        "return": -0.004331,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2026-02-27",
        "end": "2026-03-27",
        "tenure": "Developing",
        "return": -0.067954,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2026-04-03",
        "end": "2026-05-01",
        "tenure": "Developing",
        "return": 0.082202,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
        "start": "2026-05-08",
        "end": "2026-05-22",
        "tenure": "New",
        "return": 0.023173,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2026-05-29",
        "end": "2026-07-17",
        "tenure": "Developing",
        "return": -0.023409,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2026-07-24",
        "end": "2026-08-07",
        "tenure": "New",
        "return": 0.055926,
        "active": true
      }
    ],
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        "typical_volume": 36043.05,
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      },
      {
        "date": "2026-05-01",
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        "fair_value": 46.987387,
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      },
      {
        "date": "2026-05-08",
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        "stage": 2,
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      },
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        "date": "2026-05-15",
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      },
      {
        "date": "2026-05-29",
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      },
      {
        "date": "2026-06-05",
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        "typical_volume": 86773.0,
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        "fair_value": 47.776313,
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        "activity_lines": [
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      },
      {
        "date": "2026-06-12",
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        "typical_volume": 79616.65,
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      },
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      },
      {
        "date": "2026-06-26",
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      },
      {
        "date": "2026-07-03",
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      },
      {
        "date": "2026-07-10",
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        "typical_volume": 63422.4,
        "trend": 56.8825,
        "fair_value": 48.544759,
        "relative_strength": 2.185247,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 63.780947,
        "energy": 59.866456,
        "activity_lines": [
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      },
      {
        "date": "2026-07-17",
        "close": 59.240002,
        "volume": 19287,
        "typical_volume": 60782.55,
        "trend": 56.9785,
        "fair_value": 48.685865,
        "relative_strength": -0.75602,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 51.028741,
        "energy": 50.201408,
        "activity_lines": [
          60.003001,
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        ]
      },
      {
        "date": "2026-07-24",
        "close": 59.185001,
        "volume": 39681,
        "typical_volume": 60484.85,
        "trend": 57.066833,
        "fair_value": 48.824663,
        "relative_strength": -2.056728,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 47.45777,
        "energy": 40.053755,
        "activity_lines": [
          59.674334,
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          59.163072,
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      },
      {
        "date": "2026-07-31",
        "close": 59.509998,
        "volume": 25916,
        "typical_volume": 57280.1,
        "trend": 57.187167,
        "fair_value": 48.967275,
        "relative_strength": -2.658049,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 42.316804,
        "energy": 30.908757,
        "activity_lines": [
          59.557333,
          59.831,
          59.330738,
          58.258796
        ]
      },
      {
        "date": "2026-08-07",
        "close": 62.494999,
        "volume": 15737,
        "typical_volume": 53901.25,
        "trend": 57.360667,
        "fair_value": 49.131538,
        "relative_strength": 1.882782,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 83.524665,
        "energy": 53.734345,
        "activity_lines": [
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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."
    }
  }
}