{
  "ticker": {
    "uuid": "78f88ab1-bbd4-4cab-8b96-7bafd3f7a5ee",
    "symbol": "XSOE",
    "name": "WisdomTree Emerging Markets ex-State-Owned Enterprises ESG Screened 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": 67.537,
    "architecture_regime": "deceleration",
    "architecture_regime_label": "Deceleration",
    "architecture_modifier": "Recompressing",
    "architecture_gate": "up",
    "architecture_direction": 6.785,
    "architecture_energy": 18.181,
    "architecture_maturity": 62.332,
    "architecture_confidence": 82.98,
    "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": 58.98,
        "rotation_up": 15.97,
        "upward_expansion": 40.89,
        "deceleration": 87.76,
        "rotation_down": 43.12,
        "downward_expansion": 34.89
      },
      "activity_lines": [
        31.656,
        32.226955,
        32.384084,
        31.774124
      ],
      "activity_state": "Compressed",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": -0.5
    },
    "latest_close": 32.282501,
    "trend_reference": 30.999583,
    "distance_from_trend": 0.041385,
    "trend_direction": "Improving",
    "fair_value": 23.654854,
    "distance_from_fair_value": 0.364731,
    "fair_value_direction": "Weakening",
    "relative_strength": 2.619133,
    "relative_strength_direction": "Weakening",
    "price_momentum": 0.093488,
    "excess_performance": 0.042253,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.041385,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.061969,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.364731,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.110234,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.026191,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.146645,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.093488,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": false,
        "value": 0.285962,
        "read": "Supply-led"
      }
    ],
    "volume": {
      "latest": 319,
      "relative_activity": 0.113681,
      "balance": 0.285962,
      "dry_up": 0.839065,
      "accumulation_observations": 0,
      "distribution_observations": 2
    },
    "risk": {
      "range_context": 0.051522,
      "annualized_volatility": 0.259444,
      "from_high_reference": -0.078959,
      "from_low_reference": 0.331786
    },
    "levels": {
      "trend_reference": 30.999583,
      "fair_value_reference": 23.654854,
      "structural_low": 26.610001,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 9,
        "median_return": 0.01927,
        "positive_rate": 0.888889,
        "directional_follow_through": 0.888889,
        "median_excess_return": 0.024792,
        "regime_survival": 0.444444,
        "best_return": 0.136958,
        "worst_return": -0.050455,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 5,
        "median_return": 0.020219,
        "positive_rate": 0.8,
        "directional_follow_through": 0.8,
        "median_excess_return": 0.013073,
        "regime_survival": 0.2,
        "best_return": 0.249662,
        "worst_return": -0.014941,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 3,
        "median_return": 0.061244,
        "positive_rate": 1.0,
        "directional_follow_through": 1.0,
        "median_excess_return": 0.001858,
        "regime_survival": 0.0,
        "best_return": 0.075287,
        "worst_return": 0.035943,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
        "sample_count": 2,
        "median_return": 0.071959,
        "positive_rate": 1.0,
        "directional_follow_through": 1.0,
        "median_excess_return": 0.065977,
        "regime_survival": 0.0,
        "best_return": 0.10131,
        "worst_return": 0.042608,
        "sufficient": false
      }
    ],
    "ledger": [
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2024-02-02",
        "end": "2024-02-16",
        "tenure": "New",
        "return": 0.040658,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2024-02-23",
        "end": "2024-04-19",
        "tenure": "Developing",
        "return": -0.023781,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2024-04-26",
        "end": "2024-05-10",
        "tenure": "New",
        "return": 0.028776,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2024-05-17",
        "end": "2024-11-08",
        "tenure": "Established",
        "return": 0.020228,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2024-11-15",
        "end": "2025-01-03",
        "tenure": "Developing",
        "return": -0.007993,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2025-01-10",
        "end": "2025-01-17",
        "tenure": "New",
        "return": 0.023535,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2025-01-24",
        "end": "2025-02-07",
        "tenure": "New",
        "return": 0.000351,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-02-14",
        "end": "2025-04-04",
        "tenure": "Developing",
        "return": -0.088559,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2025-04-11",
        "end": "2025-05-02",
        "tenure": "New",
        "return": 0.09838,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-05-09",
        "end": "2025-05-23",
        "tenure": "New",
        "return": 0.023764,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
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        "regime": "deceleration",
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      {
        "regime": "upward_expansion",
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        "return": 0.025085,
        "active": true
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        "date": "2026-05-01",
        "close": 31.672501,
        "volume": 2754,
        "typical_volume": 4729.3,
        "trend": 28.364507,
        "fair_value": 22.44737,
        "relative_strength": 10.831714,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 68.478131,
        "energy": 70.149947,
        "activity_lines": [
          31.001667,
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          29.550964,
          29.058539
        ]
      },
      {
        "date": "2026-05-08",
        "close": 33.25,
        "volume": 22771,
        "typical_volume": 5408.0,
        "trend": 28.602173,
        "fair_value": 22.542908,
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        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
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        "direction": 80.626316,
        "energy": 82.561078,
        "activity_lines": [
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      },
      {
        "date": "2026-05-15",
        "close": 32.1325,
        "volume": 3903,
        "typical_volume": 5370.75,
        "trend": 28.78409,
        "fair_value": 22.629937,
        "relative_strength": 13.326074,
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        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
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        "direction": 64.373936,
        "energy": 75.226725,
        "activity_lines": [
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          30.196833,
          29.601495
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      },
      {
        "date": "2026-05-22",
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        "volume": 183,
        "typical_volume": 5091.35,
        "trend": 28.97075,
        "fair_value": 22.719607,
        "relative_strength": 11.613012,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 67.038614,
        "energy": 72.41094,
        "activity_lines": [
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      },
      {
        "date": "2026-05-29",
        "close": 33.865002,
        "volume": 1900,
        "typical_volume": 4026.45,
        "trend": 29.190667,
        "fair_value": 22.815101,
        "relative_strength": 15.986009,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
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        "direction": 76.111046,
        "energy": 73.893715,
        "activity_lines": [
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          30.850167,
          30.163925
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      },
      {
        "date": "2026-06-05",
        "close": 32.595001,
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        "typical_volume": 3662.9,
        "trend": 29.387083,
        "fair_value": 22.900537,
        "relative_strength": 11.657932,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
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        "direction": 62.323139,
        "energy": 53.525687,
        "activity_lines": [
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      },
      {
        "date": "2026-06-12",
        "close": 33.445,
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        "typical_volume": 3651.9,
        "trend": 29.592333,
        "fair_value": 22.98828,
        "relative_strength": 12.982393,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 67.703549,
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        "activity_lines": [
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      },
      {
        "date": "2026-06-19",
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        "typical_volume": 3242.65,
        "trend": 29.879083,
        "fair_value": 23.089594,
        "relative_strength": 17.690896,
        "stage": 2,
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        "activity_lines": [
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      },
      {
        "date": "2026-06-26",
        "close": 33.330002,
        "volume": 10,
        "typical_volume": 3023.25,
        "trend": 30.093917,
        "fair_value": 23.180748,
        "relative_strength": 11.295626,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 61.86258,
        "energy": 53.0046,
        "activity_lines": [
          33.642668,
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          31.991846,
          31.194301
        ]
      },
      {
        "date": "2026-07-03",
        "close": 33.487499,
        "volume": 1,
        "typical_volume": 2806.8,
        "trend": 30.306167,
        "fair_value": 23.273591,
        "relative_strength": 9.723452,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 60.31307,
        "energy": 50.216146,
        "activity_lines": [
          33.612834,
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          32.224012,
          31.413242
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      },
      {
        "date": "2026-07-10",
        "close": 32.98,
        "volume": 2119,
        "typical_volume": 2717.2,
        "trend": 30.508583,
        "fair_value": 23.357178,
        "relative_strength": 9.582758,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 57.144961,
        "energy": 44.956434,
        "activity_lines": [
          33.439,
          33.360364,
          32.391881,
          31.585748
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      },
      {
        "date": "2026-07-17",
        "close": 30.885,
        "volume": 6939,
        "typical_volume": 3029.55,
        "trend": 30.636,
        "fair_value": 23.429261,
        "relative_strength": 1.488143,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 24.785409,
        "energy": 17.3194,
        "activity_lines": [
          32.541167,
          32.933228,
          32.349119,
          31.610033
        ]
      },
      {
        "date": "2026-07-24",
        "close": 31.4925,
        "volume": 479,
        "typical_volume": 2993.15,
        "trend": 30.774167,
        "fair_value": 23.500078,
        "relative_strength": 1.995639,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 23.427485,
        "energy": 20.713847,
        "activity_lines": [
          32.0165,
          32.659546,
          32.364227,
          31.665291
        ]
      },
      {
        "date": "2026-07-31",
        "close": 31.049999,
        "volume": 1681,
        "typical_volume": 3003.4,
        "trend": 30.871417,
        "fair_value": 23.571408,
        "relative_strength": -0.810194,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 0.118894,
        "energy": 16.124274,
        "activity_lines": [
          31.554833,
          32.317046,
          32.322631,
          31.683086
        ]
      },
      {
        "date": "2026-08-07",
        "close": 32.282501,
        "volume": 319,
        "typical_volume": 2806.1,
        "trend": 30.999583,
        "fair_value": 23.654854,
        "relative_strength": 2.619133,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 6.784854,
        "energy": 18.180882,
        "activity_lines": [
          31.656,
          32.226955,
          32.384084,
          31.774124
        ]
      }
    ],
    "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."
    }
  }
}