{
  "ticker": {
    "uuid": "26bf7130-0207-4237-8ec6-3387529c6b00",
    "symbol": "XSFR",
    "name": "Xtrackers S&P Select Frontier Swap 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": 69.577,
    "architecture_regime": "upward_expansion",
    "architecture_regime_label": "Upward Expansion",
    "architecture_modifier": "Established expansion",
    "architecture_gate": "up",
    "architecture_direction": 58.466,
    "architecture_energy": 38.511,
    "architecture_maturity": 58.026,
    "architecture_confidence": 65.501,
    "architecture_tenure": "Established",
    "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": 16.64,
        "rotation_up": 43.49,
        "upward_expansion": 74.6,
        "deceleration": 64.2,
        "rotation_down": 27.95,
        "downward_expansion": 10.27
      },
      "activity_lines": [
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      "activity_state": "Moderate",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": 0.666667
    },
    "latest_close": 2250.25,
    "trend_reference": 2153.208333,
    "distance_from_trend": 0.045068,
    "trend_direction": "Improving",
    "fair_value": 1714.15091,
    "distance_from_fair_value": 0.312749,
    "fair_value_direction": "Weakening",
    "relative_strength": -0.693101,
    "relative_strength_direction": "Weakening",
    "price_momentum": 0.098621,
    "excess_performance": 0.047385,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.045068,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.027981,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.312749,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.025306,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.006931,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.050849,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.098621,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 1.763452,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 1965,
      "relative_activity": 0.369788,
      "balance": 1.763452,
      "dry_up": 0.59359,
      "accumulation_observations": 2,
      "distribution_observations": 1
    },
    "risk": {
      "range_context": 0.02218,
      "annualized_volatility": 0.149261,
      "from_high_reference": -0.140365,
      "from_low_reference": 0.236062
    },
    "levels": {
      "trend_reference": 2153.208333,
      "fair_value_reference": 1714.15091,
      "structural_low": 1880.712036,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 34,
        "median_return": 0.009927,
        "positive_rate": 0.529412,
        "directional_follow_through": 0.529412,
        "median_excess_return": -0.001772,
        "regime_survival": 0.735294,
        "best_return": 0.061404,
        "worst_return": -0.248953,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 13,
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        "positive_rate": 0.692308,
        "directional_follow_through": 0.692308,
        "median_excess_return": -0.00825,
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        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 7,
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        "worst_return": 0.01329,
        "sufficient": true
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      {
        "horizon": "Full cycle",
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        "worst_return": -0.104407,
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      {
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      {
        "date": "2026-04-10",
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        "fair_value": 1613.123667,
        "relative_strength": -2.322552,
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      },
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        "date": "2026-04-24",
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        "date": "2026-05-08",
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      },
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        "date": "2026-05-15",
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      },
      {
        "date": "2026-05-22",
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        "typical_volume": 8682.9,
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      },
      {
        "date": "2026-05-29",
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        "typical_volume": 8172.45,
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        "relative_strength": 4.864125,
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      },
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        "date": "2026-06-05",
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        "modifier": "Re-accelerating",
        "gate": "up",
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      },
      {
        "date": "2026-06-12",
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      },
      {
        "date": "2026-06-19",
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      },
      {
        "date": "2026-06-26",
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        "relative_strength": 1.781228,
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      },
      {
        "date": "2026-07-03",
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      },
      {
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      },
      {
        "date": "2026-07-17",
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        "volume": 1841,
        "typical_volume": 6262.25,
        "trend": 2142.483333,
        "fair_value": 1697.90732,
        "relative_strength": 1.379286,
        "stage": 2,
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        "modifier": "Established expansion",
        "gate": "up",
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        "energy": 54.963646,
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          2246.733333,
          2237.027273,
          2206.125,
          2173.032258
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      },
      {
        "date": "2026-07-24",
        "close": 2221.25,
        "volume": 3897,
        "typical_volume": 5813.1,
        "trend": 2146.083333,
        "fair_value": 1703.126872,
        "relative_strength": -0.473237,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 57.674663,
        "energy": 51.115166,
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          2212.291667,
          2178.113978
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      },
      {
        "date": "2026-07-31",
        "close": 2253.0,
        "volume": 4914,
        "typical_volume": 5374.45,
        "trend": 2150.975,
        "fair_value": 1708.646103,
        "relative_strength": -0.31108,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 61.668159,
        "energy": 46.127823,
        "activity_lines": [
          2242.966667,
          2239.536364,
          2220.535714,
          2185.011828
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      },
      {
        "date": "2026-08-07",
        "close": 2250.25,
        "volume": 1965,
        "typical_volume": 5313.85,
        "trend": 2153.208333,
        "fair_value": 1714.15091,
        "relative_strength": -0.693101,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 58.466058,
        "energy": 38.510929,
        "activity_lines": [
          2244.216667,
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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."
    }
  }
}