{
  "ticker": {
    "uuid": "55509d3b-ad7b-4b86-80e1-16c94e2813f2",
    "symbol": "VWRL",
    "name": "Vanguard FTSE All-World UCITS ETF",
    "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": 94.545,
    "architecture_regime": "deceleration",
    "architecture_regime_label": "Deceleration",
    "architecture_modifier": "Recompressing",
    "architecture_gate": "up",
    "architecture_direction": 74.06,
    "architecture_energy": 44.743,
    "architecture_maturity": 61.478,
    "architecture_confidence": 88.223,
    "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": 30.85,
        "rotation_up": 40.16,
        "upward_expansion": 66.3,
        "deceleration": 94.23,
        "rotation_down": 29.16,
        "downward_expansion": 15.63
      },
      "activity_lines": [
        136.797337,
        136.778051,
        135.576671,
        133.237792
      ],
      "activity_state": "Moderate",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": 0.333333
    },
    "latest_close": 139.740005,
    "trend_reference": 130.434337,
    "distance_from_trend": 0.071344,
    "trend_direction": "Improving",
    "fair_value": 108.348385,
    "distance_from_fair_value": 0.289729,
    "fair_value_direction": "Improving",
    "relative_strength": 2.303288,
    "relative_strength_direction": "Weakening",
    "price_momentum": 0.118784,
    "excess_performance": 0.067548,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.071344,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.036544,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.289729,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.016683,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.023033,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.023774,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.118784,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 1.559282,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 484499,
      "relative_activity": 1.328325,
      "balance": 1.559282,
      "dry_up": 1.169568,
      "accumulation_observations": 4,
      "distribution_observations": 3
    },
    "risk": {
      "range_context": 0.020949,
      "annualized_volatility": 0.123055,
      "from_high_reference": -0.005409,
      "from_low_reference": 0.235426
    },
    "levels": {
      "trend_reference": 130.434337,
      "fair_value_reference": 108.348385,
      "structural_low": 117.699997,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 4,
        "median_return": -0.018393,
        "positive_rate": 0.25,
        "directional_follow_through": 0.25,
        "median_excess_return": -0.017686,
        "regime_survival": 0.0,
        "best_return": 0.065297,
        "worst_return": -0.086265,
        "sufficient": false
      },
      {
        "horizon": "Intermediate",
        "sample_count": 4,
        "median_return": 0.013933,
        "positive_rate": 0.75,
        "directional_follow_through": 0.75,
        "median_excess_return": -0.007336,
        "regime_survival": 0.0,
        "best_return": 0.041575,
        "worst_return": -0.02819,
        "sufficient": false
      },
      {
        "horizon": "Extended",
        "sample_count": 4,
        "median_return": 0.06242,
        "positive_rate": 0.75,
        "directional_follow_through": 0.75,
        "median_excess_return": -0.00846,
        "regime_survival": 0.0,
        "best_return": 0.115077,
        "worst_return": -0.011634,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
        "sample_count": 3,
        "median_return": 0.0688,
        "positive_rate": 0.666667,
        "directional_follow_through": 0.666667,
        "median_excess_return": -0.00322,
        "regime_survival": 0.333333,
        "best_return": 0.195342,
        "worst_return": -0.018926,
        "sufficient": false
      }
    ],
    "ledger": [
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2023-09-22",
        "end": "2023-11-03",
        "tenure": "Developing",
        "return": -0.009982,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2023-11-10",
        "end": "2023-11-24",
        "tenure": "New",
        "return": 0.011439,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2023-12-01",
        "end": "2024-08-30",
        "tenure": "Extended",
        "return": 0.159556,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2024-09-06",
        "end": "2024-10-04",
        "tenure": "Developing",
        "return": 0.056045,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2024-10-11",
        "end": "2025-02-28",
        "tenure": "Established",
        "return": 0.043499,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2025-03-07",
        "end": "2025-03-28",
        "tenure": "New",
        "return": -0.015548,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2025-04-04",
        "end": "2025-04-18",
        "tenure": "New",
        "return": 0.008628,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2025-04-25",
        "end": "2025-05-30",
        "tenure": "Developing",
        "return": 0.057977,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-06-06",
        "end": "2025-06-27",
        "tenure": "New",
        "return": 0.013591,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
        "start": "2025-07-04",
        "end": "2025-08-08",
        "tenure": "Developing",
        "return": 0.034987,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-08-15",
        "end": "2026-04-03",
        "tenure": "Extended",
        "return": 0.07884,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2026-04-10",
        "end": "2026-04-24",
        "tenure": "New",
        "return": 0.024138,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2026-05-01",
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        "tenure": "Established",
        "return": 0.046026,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2026-07-31",
        "end": "2026-08-07",
        "tenure": "New",
        "return": 0.036416,
        "active": true
      }
    ],
    "chart_path": [
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        "date": "2023-08-18",
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        "typical_volume": 231961.65,
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        "modifier": "Upper balance after advance",
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        "activity_lines": [
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      },
      {
        "date": "2026-04-24",
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      },
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        "date": "2026-05-01",
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      },
      {
        "date": "2026-05-08",
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      },
      {
        "date": "2026-05-15",
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      },
      {
        "date": "2026-05-22",
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        "fair_value": 104.649313,
        "relative_strength": 4.166448,
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        "activity_lines": [
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      },
      {
        "date": "2026-05-29",
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        "typical_volume": 472846.0,
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      },
      {
        "date": "2026-06-05",
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        "fair_value": 105.326299,
        "relative_strength": 5.290833,
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        "regime": "upward_expansion",
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      },
      {
        "date": "2026-06-12",
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        "trend": 126.727747,
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      },
      {
        "date": "2026-06-19",
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      },
      {
        "date": "2026-06-26",
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        "fair_value": 106.353281,
        "relative_strength": 4.226541,
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        "activity_lines": [
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      },
      {
        "date": "2026-07-03",
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        "volume": 72980,
        "typical_volume": 378380.05,
        "trend": 128.270184,
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        "relative_strength": 3.118861,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
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        "activity_lines": [
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      },
      {
        "date": "2026-07-10",
        "close": 137.160004,
        "volume": 409167,
        "typical_volume": 379861.65,
        "trend": 128.757254,
        "fair_value": 107.048202,
        "relative_strength": 4.4198,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
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        "energy": 70.475715,
        "activity_lines": [
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      },
      {
        "date": "2026-07-17",
        "close": 134.779999,
        "volume": 452660,
        "typical_volume": 378867.4,
        "trend": 129.151955,
        "fair_value": 107.363696,
        "relative_strength": 1.567778,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 49.979766,
        "energy": 48.712804,
        "activity_lines": [
          136.536,
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          134.111367,
          131.843425
        ]
      },
      {
        "date": "2026-07-24",
        "close": 135.740005,
        "volume": 390428,
        "typical_volume": 377001.7,
        "trend": 129.576661,
        "fair_value": 107.679564,
        "relative_strength": 0.96589,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 47.363842,
        "energy": 41.816134,
        "activity_lines": [
          136.093335,
          136.473413,
          134.552308,
          132.26846
        ]
      },
      {
        "date": "2026-07-31",
        "close": 134.830002,
        "volume": 378785,
        "typical_volume": 370467.25,
        "trend": 129.968707,
        "fair_value": 107.995501,
        "relative_strength": -0.937075,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 41.107955,
        "energy": 30.161726,
        "activity_lines": [
          135.561335,
          136.176725,
          134.857828,
          132.607385
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      },
      {
        "date": "2026-08-07",
        "close": 139.740005,
        "volume": 484499,
        "typical_volume": 364744.2,
        "trend": 130.434337,
        "fair_value": 108.348385,
        "relative_strength": 2.303288,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 74.059602,
        "energy": 44.743392,
        "activity_lines": [
          136.797337,
          136.778051,
          135.576671,
          133.237792
        ]
      }
    ],
    "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."
    }
  }
}