{
  "ticker": {
    "uuid": "8129a59e-32fa-45dc-b1ef-26d547665ad2",
    "symbol": "DHS",
    "name": "WisdomTree US Equity Income UCITS ETF",
    "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": 96.0,
    "architecture_regime": "upward_expansion",
    "architecture_regime_label": "Upward Expansion",
    "architecture_modifier": "Established expansion",
    "architecture_gate": "up",
    "architecture_direction": 67.952,
    "architecture_energy": 67.551,
    "architecture_maturity": 35.675,
    "architecture_confidence": 63.948,
    "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": 6.1,
        "rotation_up": 76.59,
        "upward_expansion": 87.67,
        "deceleration": 54.17,
        "rotation_down": 12.07,
        "downward_expansion": 12.0
      },
      "activity_lines": [
        26.828,
        26.563015,
        25.948006,
        25.566532
      ],
      "activity_state": "Wide",
      "activity_direction": "Stable",
      "rotation_direction": "Improving",
      "price_acceptance": 0.833333
    },
    "latest_close": 26.805,
    "trend_reference": 25.129382,
    "distance_from_trend": 0.06668,
    "trend_direction": "Improving",
    "fair_value": 21.800477,
    "distance_from_fair_value": 0.22956,
    "fair_value_direction": "Improving",
    "relative_strength": -4.250616,
    "relative_strength_direction": "Improving",
    "price_momentum": 0.068327,
    "excess_performance": -0.102565,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.06668,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.045252,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.22956,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.069572,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.042506,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.014205,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.068327,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 26.391598,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 4252,
      "relative_activity": 1.506599,
      "balance": 26.391598,
      "dry_up": 0.390557,
      "accumulation_observations": 3,
      "distribution_observations": 0
    },
    "risk": {
      "range_context": 0.017223,
      "annualized_volatility": 0.095136,
      "from_high_reference": -0.022429,
      "from_low_reference": 0.245767
    },
    "levels": {
      "trend_reference": 25.129382,
      "fair_value_reference": 21.800477,
      "structural_low": 23.696704,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 42,
        "median_return": 0.016742,
        "positive_rate": 0.642857,
        "directional_follow_through": 0.642857,
        "median_excess_return": 0.005222,
        "regime_survival": 0.785714,
        "best_return": 0.065834,
        "worst_return": -0.133163,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 14,
        "median_return": 0.046223,
        "positive_rate": 0.714286,
        "directional_follow_through": 0.714286,
        "median_excess_return": 0.010284,
        "regime_survival": 0.5,
        "best_return": 0.118562,
        "worst_return": -0.105843,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 7,
        "median_return": 0.094502,
        "positive_rate": 0.714286,
        "directional_follow_through": 0.714286,
        "median_excess_return": 0.038473,
        "regime_survival": 0.142857,
        "best_return": 0.171273,
        "worst_return": -0.081974,
        "sufficient": true
      },
      {
        "horizon": "Full cycle",
        "sample_count": 4,
        "median_return": 0.11381,
        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
        "median_excess_return": -0.101831,
        "regime_survival": 0.5,
        "best_return": 0.289722,
        "worst_return": -0.08623,
        "sufficient": false
      }
    ],
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        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2024-05-10",
        "end": "2024-05-17",
        "tenure": "New",
        "return": 0.007031,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2024-05-24",
        "end": "2024-06-14",
        "tenure": "New",
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        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
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        "end": "2024-07-19",
        "tenure": "Developing",
        "return": 0.042918,
        "active": false
      },
      {
        "regime": "upward_expansion",
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        "tenure": "Established",
        "return": 0.103972,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
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        "end": "2025-02-07",
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        "return": 0.026354,
        "active": false
      },
      {
        "regime": "upward_expansion",
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        "active": false
      },
      {
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        "color": "amber",
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        "end": "2025-03-28",
        "tenure": "New",
        "return": 0.0,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2025-04-04",
        "end": "2025-04-18",
        "tenure": "New",
        "return": -0.045059,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2025-04-25",
        "end": "2025-07-25",
        "tenure": "Established",
        "return": 0.056408,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
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        "end": "2025-08-22",
        "tenure": "New",
        "return": 0.043478,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
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        "end": "2025-09-26",
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        "active": false
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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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      },
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        "date": "2026-05-22",
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        "date": "2026-05-29",
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        "typical_volume": 4816.75,
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        "date": "2026-06-05",
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        "relative_strength": -3.572548,
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      },
      {
        "date": "2026-07-03",
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        "typical_volume": 3467.35,
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        "fair_value": 21.527065,
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      },
      {
        "date": "2026-07-10",
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        "trend": 24.654097,
        "fair_value": 21.583538,
        "relative_strength": -4.409404,
        "stage": 2,
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        "modifier": "Re-accelerating",
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        "energy": 89.935724,
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      },
      {
        "date": "2026-07-17",
        "close": 27.02,
        "volume": 69,
        "typical_volume": 2673.25,
        "trend": 24.781866,
        "fair_value": 21.640063,
        "relative_strength": -0.230993,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 92.321903,
        "energy": 96.440877,
        "activity_lines": [
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          26.049484,
          25.469013,
          25.1895
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      },
      {
        "date": "2026-07-24",
        "close": 26.969999,
        "volume": 39,
        "typical_volume": 2669.7,
        "trend": 24.911583,
        "fair_value": 21.694202,
        "relative_strength": -0.233538,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 82.702221,
        "energy": 93.120472,
        "activity_lines": [
          26.710349,
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          25.649599,
          25.33067
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      },
      {
        "date": "2026-07-31",
        "close": 26.795,
        "volume": 49,
        "typical_volume": 2617.25,
        "trend": 25.032552,
        "fair_value": 21.747189,
        "relative_strength": -1.516823,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 69.809033,
        "energy": 78.4679,
        "activity_lines": [
          26.788666,
          26.436656,
          25.804286,
          25.45218
        ]
      },
      {
        "date": "2026-08-07",
        "close": 26.805,
        "volume": 4252,
        "typical_volume": 2822.25,
        "trend": 25.129382,
        "fair_value": 21.800477,
        "relative_strength": -4.250616,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 67.951721,
        "energy": 67.550917,
        "activity_lines": [
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          25.566532
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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."
    }
  }
}