{
  "ticker": {
    "uuid": "502b5b44-5cad-4a0c-8b4a-a3673882c1fe",
    "symbol": "SNSR",
    "name": "Global X Internet of Things UCITS ETF USD Acc",
    "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": 37.375,
    "architecture_energy": 29.277,
    "architecture_maturity": 73.55,
    "architecture_confidence": 95.884,
    "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": 41.26,
        "rotation_up": 25.7,
        "upward_expansion": 50.1,
        "deceleration": 85.16,
        "rotation_down": 35.2,
        "downward_expansion": 28.1
      },
      "activity_lines": [
        18.320067,
        18.541127,
        18.554686,
        17.882572
      ],
      "activity_state": "Moderate",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": 0.0
    },
    "latest_close": 19.214001,
    "trend_reference": 16.975317,
    "distance_from_trend": 0.131879,
    "trend_direction": "Improving",
    "fair_value": 14.166817,
    "distance_from_fair_value": 0.356268,
    "fair_value_direction": "Improving",
    "relative_strength": 11.012286,
    "relative_strength_direction": "Weakening",
    "price_momentum": 0.289703,
    "excess_performance": 0.238468,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.131879,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.096742,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.356268,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.015294,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.110123,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.053006,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.289703,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 5.583403,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 8664,
      "relative_activity": 5.092427,
      "balance": 5.583403,
      "dry_up": 1.714374,
      "accumulation_observations": 3,
      "distribution_observations": 0
    },
    "risk": {
      "range_context": 0.040013,
      "annualized_volatility": 0.272364,
      "from_high_reference": -0.053264,
      "from_low_reference": 0.438281
    },
    "levels": {
      "trend_reference": 16.975317,
      "fair_value_reference": 14.166817,
      "structural_low": 13.8,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 5,
        "median_return": 0.012153,
        "positive_rate": 0.8,
        "directional_follow_through": 0.8,
        "median_excess_return": 0.013084,
        "regime_survival": 0.2,
        "best_return": 0.103664,
        "worst_return": -0.017948,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 4,
        "median_return": 0.004831,
        "positive_rate": 0.75,
        "directional_follow_through": 0.75,
        "median_excess_return": -0.041555,
        "regime_survival": 0.25,
        "best_return": 0.009723,
        "worst_return": -0.029643,
        "sufficient": false
      },
      {
        "horizon": "Extended",
        "sample_count": 3,
        "median_return": 0.061216,
        "positive_rate": 0.666667,
        "directional_follow_through": 0.666667,
        "median_excess_return": -0.081854,
        "regime_survival": 0.333333,
        "best_return": 0.112157,
        "worst_return": -0.020364,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
        "sample_count": 1,
        "median_return": 0.089509,
        "positive_rate": 1.0,
        "directional_follow_through": 1.0,
        "median_excess_return": -0.054934,
        "regime_survival": 0.0,
        "best_return": 0.089509,
        "worst_return": 0.089509,
        "sufficient": false
      }
    ],
    "ledger": [
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-01-17",
        "end": "2025-01-24",
        "tenure": "New",
        "return": 0.028532,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-01-31",
        "end": "2025-03-07",
        "tenure": "Developing",
        "return": -0.049414,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-03-14",
        "end": "2025-03-28",
        "tenure": "New",
        "return": -0.030072,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2025-04-04",
        "end": "2025-05-23",
        "tenure": "Developing",
        "return": 0.209792,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
        "start": "2025-05-30",
        "end": "2025-07-11",
        "tenure": "Developing",
        "return": 0.088904,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-07-18",
        "end": "2025-08-08",
        "tenure": "New",
        "return": -0.046523,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2025-08-15",
        "end": "2025-08-29",
        "tenure": "New",
        "return": 0.025231,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-09-05",
        "end": "2025-11-21",
        "tenure": "Developing",
        "return": -0.108984,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2025-11-28",
        "end": "2025-12-12",
        "tenure": "New",
        "return": 0.038839,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-12-19",
        "end": "2026-02-13",
        "tenure": "Developing",
        "return": 0.063342,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2026-02-20",
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        "return": -0.066799,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2026-03-27",
        "end": "2026-04-10",
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        "return": 0.084746,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
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        "end": "2026-07-10",
        "tenure": "Established",
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        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2026-07-17",
        "end": "2026-08-07",
        "tenure": "New",
        "return": 0.086212,
        "active": true
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        "direction": 81.093034,
        "energy": 89.608004,
        "activity_lines": [
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      },
      {
        "date": "2026-05-08",
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        "volume": 1656,
        "typical_volume": 2837.85,
        "trend": 15.054833,
        "fair_value": 13.663199,
        "relative_strength": 16.312907,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
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        "energy": 95.829593,
        "activity_lines": [
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      },
      {
        "date": "2026-05-15",
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        "typical_volume": 2855.25,
        "trend": 15.1627,
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        "relative_strength": 15.322377,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 79.841229,
        "energy": 92.381132,
        "activity_lines": [
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      },
      {
        "date": "2026-05-22",
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        "typical_volume": 2920.35,
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        "relative_strength": 20.044199,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 91.976484,
        "energy": 96.504468,
        "activity_lines": [
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        ]
      },
      {
        "date": "2026-05-29",
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        "relative_strength": 23.033052,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
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        "energy": 95.671999,
        "activity_lines": [
          19.0551,
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      },
      {
        "date": "2026-06-05",
        "close": 19.709999,
        "volume": 0,
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        "trend": 15.670183,
        "fair_value": 13.838465,
        "relative_strength": 21.721762,
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        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 78.089007,
        "energy": 91.374273,
        "activity_lines": [
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      },
      {
        "date": "2026-06-12",
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        "trend": 15.858983,
        "fair_value": 13.880471,
        "relative_strength": 20.260582,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
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      },
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        "date": "2026-06-19",
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        "energy": 88.619927,
        "activity_lines": [
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      },
      {
        "date": "2026-06-26",
        "close": 18.628,
        "volume": 1,
        "typical_volume": 2575.95,
        "trend": 16.224017,
        "fair_value": 13.961946,
        "relative_strength": 12.479132,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 67.333613,
        "energy": 65.942153,
        "activity_lines": [
          19.4051,
          19.216382,
          17.97529,
          17.165589
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      },
      {
        "date": "2026-07-03",
        "close": 19.006001,
        "volume": 258,
        "typical_volume": 2577.75,
        "trend": 16.36055,
        "fair_value": 14.000824,
        "relative_strength": 12.789059,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 55.170482,
        "energy": 58.056764,
        "activity_lines": [
          19.2174,
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      },
      {
        "date": "2026-07-10",
        "close": 18.923,
        "volume": 1354,
        "typical_volume": 2640.0,
        "trend": 16.50095,
        "fair_value": 14.03551,
        "relative_strength": 14.036686,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 50.831211,
        "energy": 50.674263,
        "activity_lines": [
          19.063267,
          19.234036,
          18.334,
          17.510391
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      },
      {
        "date": "2026-07-17",
        "close": 17.688999,
        "volume": 233,
        "typical_volume": 2638.7,
        "trend": 16.608017,
        "fair_value": 14.063151,
        "relative_strength": 5.5539,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 40.418417,
        "energy": 34.262411,
        "activity_lines": [
          18.550267,
          18.964882,
          18.367379,
          17.58704
        ]
      },
      {
        "date": "2026-07-24",
        "close": 17.625999,
        "volume": 435,
        "typical_volume": 1809.2,
        "trend": 16.713417,
        "fair_value": 14.090234,
        "relative_strength": 3.791511,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 30.548174,
        "energy": 31.925365,
        "activity_lines": [
          18.153,
          18.695782,
          18.385276,
          17.652716
        ]
      },
      {
        "date": "2026-07-31",
        "close": 17.888,
        "volume": 2335,
        "typical_volume": 1360.5,
        "trend": 16.825817,
        "fair_value": 14.122984,
        "relative_strength": 3.912287,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 23.504102,
        "energy": 30.353041,
        "activity_lines": [
          17.990866,
          18.483627,
          18.41484,
          17.728496
        ]
      },
      {
        "date": "2026-08-07",
        "close": 19.214001,
        "volume": 8664,
        "typical_volume": 1701.35,
        "trend": 16.975317,
        "fair_value": 14.166817,
        "relative_strength": 11.012286,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 37.374962,
        "energy": 29.277157,
        "activity_lines": [
          18.320067,
          18.541127,
          18.554686,
          17.882572
        ]
      }
    ],
    "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."
    }
  }
}