{
  "ticker": {
    "uuid": "4aa83888-349b-49ec-8407-e32043f1997c",
    "symbol": "UKGBPB",
    "name": "UBS MSCI United Kingdom UCITS ETF GBP acc",
    "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": 2,
    "stage_name": "Advancing",
    "phase": "2a",
    "phase_label": "Stage 2A \u00b7 Early advance",
    "transition": "stage_2_healthy",
    "transition_label": "Stage 2 trend intact",
    "confidence": 87.657,
    "architecture_regime": "upward_expansion",
    "architecture_regime_label": "Upward Expansion",
    "architecture_modifier": "Established expansion",
    "architecture_gate": "up",
    "architecture_direction": 80.113,
    "architecture_energy": 88.67,
    "architecture_maturity": 37.223,
    "architecture_confidence": 68.57,
    "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": 2.6,
        "rotation_up": 84.12,
        "upward_expansion": 98.83,
        "deceleration": 39.14,
        "rotation_down": 9.27,
        "downward_expansion": 20.83
      },
      "activity_lines": [
        51.897334,
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        50.349095,
        49.826817
      ],
      "activity_state": "Wide",
      "activity_direction": "Expanding",
      "rotation_direction": "Improving",
      "price_acceptance": 1.0
    },
    "latest_close": 52.400002,
    "trend_reference": 49.188834,
    "distance_from_trend": 0.065282,
    "trend_direction": "Improving",
    "fair_value": 40.290468,
    "distance_from_fair_value": 0.300556,
    "fair_value_direction": "Improving",
    "relative_strength": -3.973441,
    "relative_strength_direction": "Improving",
    "price_momentum": 0.090417,
    "excess_performance": -0.080474,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.065282,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.039757,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.300556,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.057356,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.039734,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.007646,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.090417,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 2.12645,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 40009,
      "relative_activity": 2.036372,
      "balance": 2.12645,
      "dry_up": 1.505583,
      "accumulation_observations": 3,
      "distribution_observations": 2
    },
    "risk": {
      "range_context": 0.019267,
      "annualized_volatility": 0.140851,
      "from_high_reference": -0.003992,
      "from_low_reference": 0.36129
    },
    "levels": {
      "trend_reference": 49.188834,
      "fair_value_reference": 40.290468,
      "structural_low": 45.445,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 47,
        "median_return": 0.000938,
        "positive_rate": 0.510638,
        "directional_follow_through": 0.510638,
        "median_excess_return": -0.005698,
        "regime_survival": 0.765957,
        "best_return": 0.065008,
        "worst_return": -0.102243,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 17,
        "median_return": 0.021175,
        "positive_rate": 0.882353,
        "directional_follow_through": 0.882353,
        "median_excess_return": -0.007577,
        "regime_survival": 0.764706,
        "best_return": 0.077742,
        "worst_return": -0.039342,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 8,
        "median_return": 0.067048,
        "positive_rate": 0.75,
        "directional_follow_through": 0.75,
        "median_excess_return": -0.02481,
        "regime_survival": 0.75,
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        "worst_return": -0.029197,
        "sufficient": true
      },
      {
        "horizon": "Full cycle",
        "sample_count": 4,
        "median_return": 0.130977,
        "positive_rate": 1.0,
        "directional_follow_through": 1.0,
        "median_excess_return": -0.025583,
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        "best_return": 0.213002,
        "worst_return": 0.013601,
        "sufficient": false
      }
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      },
      {
        "regime": "deceleration",
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        "stage": 2,
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        "modifier": "Re-accelerating",
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        "direction": 57.268823,
        "energy": 51.091447,
        "activity_lines": [
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      },
      {
        "date": "2026-05-01",
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        "relative_strength": -0.980739,
        "stage": 2,
        "regime": "upward_expansion",
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        "activity_lines": [
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      },
      {
        "date": "2026-05-08",
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        "typical_volume": 21194.25,
        "trend": 46.619764,
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      },
      {
        "date": "2026-05-15",
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        "typical_volume": 22777.1,
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        "relative_strength": -5.326134,
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      },
      {
        "date": "2026-05-22",
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        "typical_volume": 21023.5,
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        "relative_strength": -2.241118,
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        "activity_lines": [
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      },
      {
        "date": "2026-05-29",
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        "typical_volume": 21726.05,
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      },
      {
        "date": "2026-06-05",
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        "fair_value": 39.227936,
        "relative_strength": -3.734008,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
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        "direction": 50.688654,
        "energy": 28.9447,
        "activity_lines": [
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      },
      {
        "date": "2026-06-12",
        "close": 49.744999,
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        "typical_volume": 19914.1,
        "trend": 47.6595,
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        "stage": 2,
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      },
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        "date": "2026-06-19",
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      },
      {
        "date": "2026-06-26",
        "close": 49.860001,
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        "typical_volume": 14848.6,
        "trend": 48.0035,
        "fair_value": 39.549794,
        "relative_strength": -4.66214,
        "stage": 3,
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        "gate": "up",
        "direction": 63.717818,
        "energy": 47.64317,
        "activity_lines": [
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      },
      {
        "date": "2026-07-03",
        "close": 51.029999,
        "volume": 657,
        "typical_volume": 14660.0,
        "trend": 48.218,
        "fair_value": 39.67582,
        "relative_strength": -5.201488,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
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        "direction": 80.319248,
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        "activity_lines": [
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      },
      {
        "date": "2026-07-10",
        "close": 50.450001,
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        "typical_volume": 15062.6,
        "trend": 48.425,
        "fair_value": 39.793224,
        "relative_strength": -5.809774,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 66.445271,
        "energy": 65.809237,
        "activity_lines": [
          50.234334,
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      },
      {
        "date": "2026-07-17",
        "close": 51.02,
        "volume": 18839,
        "typical_volume": 15803.35,
        "trend": 48.607667,
        "fair_value": 39.914923,
        "relative_strength": -3.341506,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 73.595338,
        "energy": 74.9926,
        "activity_lines": [
          50.574667,
          50.096727,
          49.529667,
          49.189742
        ]
      },
      {
        "date": "2026-07-24",
        "close": 51.630001,
        "volume": 5242,
        "typical_volume": 15746.85,
        "trend": 48.806334,
        "fair_value": 40.033544,
        "relative_strength": -2.003211,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 78.412176,
        "energy": 81.852817,
        "activity_lines": [
          51.033334,
          50.449909,
          49.774524,
          49.384731
        ]
      },
      {
        "date": "2026-07-31",
        "close": 52.27,
        "volume": 54232,
        "typical_volume": 17877.5,
        "trend": 49.011334,
        "fair_value": 40.161589,
        "relative_strength": -1.430124,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 83.015948,
        "energy": 85.307979,
        "activity_lines": [
          51.524,
          50.848909,
          50.065357,
          49.608194
        ]
      },
      {
        "date": "2026-08-07",
        "close": 52.400002,
        "volume": 40009,
        "typical_volume": 19647.2,
        "trend": 49.188834,
        "fair_value": 40.290468,
        "relative_strength": -3.973441,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 80.113387,
        "energy": 88.670315,
        "activity_lines": [
          51.897334,
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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."
    }
  }
}