{
  "ticker": {
    "uuid": "65cbc642-d441-435e-873e-c1197519b0a1",
    "symbol": "VWCE",
    "name": "Vanguard FTSE All-World UCITS ETF USD Accumulation",
    "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": "2b",
    "phase_label": "Stage 2B \u00b7 Advancing",
    "transition": "stage_2_healthy",
    "transition_label": "Stage 2 trend intact",
    "confidence": 91.831,
    "architecture_regime": "upward_expansion",
    "architecture_regime_label": "Upward Expansion",
    "architecture_modifier": "Established expansion",
    "architecture_gate": "up",
    "architecture_direction": 79.379,
    "architecture_energy": 58.228,
    "architecture_maturity": 89.181,
    "architecture_confidence": 61.898,
    "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": 23.7,
        "rotation_up": 49.17,
        "upward_expansion": 80.75,
        "deceleration": 71.42,
        "rotation_down": 29.24,
        "downward_expansion": 9.75
      },
      "activity_lines": [
        165.282001,
        164.957089,
        162.719189,
        159.344493
      ],
      "activity_state": "Moderate",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": 0.5
    },
    "latest_close": 168.389999,
    "trend_reference": 155.340665,
    "distance_from_trend": 0.084005,
    "trend_direction": "Improving",
    "fair_value": 130.004871,
    "distance_from_fair_value": 0.295259,
    "fair_value_direction": "Improving",
    "relative_strength": -3.211634,
    "relative_strength_direction": "Weakening",
    "price_momentum": 0.139156,
    "excess_performance": -0.031736,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.084005,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.045485,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.295259,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.027511,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.032116,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.017204,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.139156,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 2.508143,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 273638,
      "relative_activity": 1.470538,
      "balance": 2.508143,
      "dry_up": 1.34859,
      "accumulation_observations": 6,
      "distribution_observations": 2
    },
    "risk": {
      "range_context": 0.019721,
      "annualized_volatility": 0.113248,
      "from_high_reference": -0.003197,
      "from_low_reference": 0.252809
    },
    "levels": {
      "trend_reference": 155.340665,
      "fair_value_reference": 130.004871,
      "structural_low": 140.490005,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 39,
        "median_return": 0.00905,
        "positive_rate": 0.666667,
        "directional_follow_through": 0.666667,
        "median_excess_return": -0.007054,
        "regime_survival": 0.846154,
        "best_return": 0.059156,
        "worst_return": -0.07611,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 12,
        "median_return": 0.034518,
        "positive_rate": 0.75,
        "directional_follow_through": 0.75,
        "median_excess_return": -0.009321,
        "regime_survival": 0.583333,
        "best_return": 0.093492,
        "worst_return": -0.143872,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 7,
        "median_return": 0.046065,
        "positive_rate": 0.714286,
        "directional_follow_through": 0.714286,
        "median_excess_return": -0.012522,
        "regime_survival": 0.571429,
        "best_return": 0.144323,
        "worst_return": -0.042935,
        "sufficient": true
      },
      {
        "horizon": "Full cycle",
        "sample_count": 3,
        "median_return": 0.064133,
        "positive_rate": 0.666667,
        "directional_follow_through": 0.666667,
        "median_excess_return": -0.076607,
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        "best_return": 0.214562,
        "worst_return": -0.004047,
        "sufficient": false
      }
    ],
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        "end": "2023-10-13",
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      {
        "regime": "balance",
        "label": "Balance",
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        "active": false
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      {
        "regime": "rotation_down",
        "label": "Rotation Down",
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        "active": false
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      {
        "regime": "upward_expansion",
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        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
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        "end": "2024-09-27",
        "tenure": "Developing",
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        "regime": "upward_expansion",
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      {
        "regime": "rotation_down",
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        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
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        "end": "2025-05-30",
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        "active": false
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      {
        "regime": "rotation_up",
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        "end": "2025-08-22",
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        "active": false
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        "date": "2026-04-24",
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      {
        "date": "2026-07-03",
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      },
      {
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      },
      {
        "date": "2026-07-17",
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        "typical_volume": 189594.1,
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        "relative_strength": -2.934888,
        "stage": 2,
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      },
      {
        "date": "2026-07-24",
        "close": 164.240005,
        "volume": 212607,
        "typical_volume": 186568.3,
        "trend": 154.100998,
        "fair_value": 129.179551,
        "relative_strength": -2.266548,
        "stage": 2,
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        "modifier": "Re-accelerating",
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      },
      {
        "date": "2026-07-31",
        "close": 162.860001,
        "volume": 232994,
        "typical_volume": 186203.75,
        "trend": 154.689665,
        "fair_value": 129.57173,
        "relative_strength": -3.671853,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 50.65012,
        "energy": 47.61831,
        "activity_lines": [
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      },
      {
        "date": "2026-08-07",
        "close": 168.389999,
        "volume": 273638,
        "typical_volume": 186080.25,
        "trend": 155.340665,
        "fair_value": 130.004871,
        "relative_strength": -3.211634,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 79.378906,
        "energy": 58.228032,
        "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."
    }
  }
}