{
  "ticker": {
    "uuid": "901e8803-a913-4e70-99c5-9cf6c0900462",
    "symbol": "PCOM",
    "name": "WisdomTree Broad Commodities 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": "2a",
    "phase_label": "Stage 2A \u00b7 Early advance",
    "transition": "stage_2_healthy",
    "transition_label": "Stage 2 trend intact",
    "confidence": 67.434,
    "architecture_regime": "deceleration",
    "architecture_regime_label": "Deceleration",
    "architecture_modifier": "Re-acceleration watch",
    "architecture_gate": "up",
    "architecture_direction": 39.203,
    "architecture_energy": 35.768,
    "architecture_maturity": 44.133,
    "architecture_confidence": 54.814,
    "architecture_tenure": "Developing",
    "architecture": {
      "interpretation": {
        "headline": "The prior uptrend is attempting to re-accelerate.",
        "body": "Positive Trend survived a recompression and Fast Activity is strengthening again. Promotion requires renewed confirmation across the completed evidence set."
      },
      "scores": {
        "balance": 35.14,
        "rotation_up": 67.15,
        "upward_expansion": 70.43,
        "deceleration": 62.32,
        "rotation_down": 9.09,
        "downward_expansion": 11.43
      },
      "activity_lines": [
        15.850734,
        15.575109,
        15.731843,
        15.69211
      ],
      "activity_state": "Moderate",
      "activity_direction": "Contracting",
      "rotation_direction": "Improving",
      "price_acceptance": 0.5
    },
    "latest_close": 15.852,
    "trend_reference": 15.426933,
    "distance_from_trend": 0.027554,
    "trend_direction": "Improving",
    "fair_value": 12.202188,
    "distance_from_fair_value": 0.299111,
    "fair_value_direction": "Weakening",
    "relative_strength": 3.417448,
    "relative_strength_direction": "Weakening",
    "price_momentum": 0.129301,
    "excess_performance": 0.078066,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.027554,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.05889,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.299111,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.098775,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.034174,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.144162,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.129301,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": false,
        "value": 0.630907,
        "read": "Supply-led"
      }
    ],
    "volume": {
      "latest": 52401,
      "relative_activity": 1.508596,
      "balance": 0.630907,
      "dry_up": 0.610768,
      "accumulation_observations": 1,
      "distribution_observations": 2
    },
    "risk": {
      "range_context": 0.030578,
      "annualized_volatility": 0.181687,
      "from_high_reference": -0.076224,
      "from_low_reference": 0.374848
    },
    "levels": {
      "trend_reference": 15.426933,
      "fair_value_reference": 12.202188,
      "structural_low": 13.7,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 10,
        "median_return": 0.004113,
        "positive_rate": 0.6,
        "directional_follow_through": 0.6,
        "median_excess_return": -0.013645,
        "regime_survival": 0.7,
        "best_return": 0.037238,
        "worst_return": -0.050988,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 4,
        "median_return": 0.008748,
        "positive_rate": 0.75,
        "directional_follow_through": 0.75,
        "median_excess_return": -0.045254,
        "regime_survival": 0.25,
        "best_return": 0.042865,
        "worst_return": -0.049385,
        "sufficient": false
      },
      {
        "horizon": "Extended",
        "sample_count": 3,
        "median_return": 0.014995,
        "positive_rate": 0.666667,
        "directional_follow_through": 0.666667,
        "median_excess_return": -0.037113,
        "regime_survival": 0.0,
        "best_return": 0.060184,
        "worst_return": -0.013526,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
        "sample_count": 2,
        "median_return": 0.191791,
        "positive_rate": 1.0,
        "directional_follow_through": 1.0,
        "median_excess_return": -0.016754,
        "regime_survival": 0.0,
        "best_return": 0.365085,
        "worst_return": 0.018497,
        "sufficient": false
      }
    ],
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      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2023-12-01",
        "end": "2023-12-29",
        "tenure": "Developing",
        "return": -0.023426,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2024-01-05",
        "end": "2024-03-29",
        "tenure": "Established",
        "return": 0.019428,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
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        "end": "2024-05-10",
        "tenure": "Developing",
        "return": 0.002494,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
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        "end": "2024-06-21",
        "tenure": "Developing",
        "return": -0.026933,
        "active": false
      },
      {
        "regime": "deceleration",
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        "color": "amber",
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        "end": "2024-07-26",
        "tenure": "Developing",
        "return": -0.050988,
        "active": false
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      {
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        "label": "Rotation Down",
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        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
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        "end": "2024-10-04",
        "tenure": "New",
        "return": 0.063303,
        "active": false
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      {
        "regime": "rotation_up",
        "label": "Rotation Up",
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        "end": "2024-11-08",
        "tenure": "Developing",
        "return": -0.028652,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
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        "end": "2025-01-10",
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        "return": 0.059215,
        "active": false
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        "regime": "upward_expansion",
        "label": "Upward Expansion",
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        "active": false
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      {
        "regime": "balance",
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        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
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        "energy": 64.844387,
        "activity_lines": [
          16.190067,
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      },
      {
        "date": "2026-05-08",
        "close": 16.486,
        "volume": 34537,
        "typical_volume": 58377.65,
        "trend": 14.169113,
        "fair_value": 11.793522,
        "relative_strength": 17.833637,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 69.854567,
        "energy": 61.745562,
        "activity_lines": [
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      },
      {
        "date": "2026-05-15",
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        "typical_volume": 59562.5,
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        "fair_value": 11.832971,
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        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 72.017337,
        "energy": 63.566766,
        "activity_lines": [
          16.515867,
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          15.698886,
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      },
      {
        "date": "2026-05-22",
        "close": 16.562,
        "volume": 31140,
        "typical_volume": 53670.9,
        "trend": 14.447967,
        "fair_value": 11.872547,
        "relative_strength": 14.865921,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
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        "energy": 59.003322,
        "activity_lines": [
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      },
      {
        "date": "2026-05-29",
        "close": 16.16,
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        "typical_volume": 55585.3,
        "trend": 14.568967,
        "fair_value": 11.909477,
        "relative_strength": 12.31147,
        "stage": 2,
        "regime": "upward_expansion",
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        "gate": "up",
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        "energy": 50.747068,
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      },
      {
        "date": "2026-06-05",
        "close": 15.912,
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        "typical_volume": 54817.1,
        "trend": 14.679833,
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        "relative_strength": 10.726899,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 47.601556,
        "energy": 39.171408,
        "activity_lines": [
          16.256533,
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      },
      {
        "date": "2026-06-12",
        "close": 15.462,
        "volume": 4500,
        "typical_volume": 53760.9,
        "trend": 14.767667,
        "fair_value": 11.972592,
        "relative_strength": 6.358702,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
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        "energy": 22.18642,
        "activity_lines": [
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      },
      {
        "date": "2026-06-19",
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        "trend": 14.8529,
        "fair_value": 12.001323,
        "relative_strength": 5.190737,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 8.789126,
        "energy": 20.959905,
        "activity_lines": [
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      },
      {
        "date": "2026-06-26",
        "close": 14.714,
        "volume": 1994,
        "typical_volume": 40900.95,
        "trend": 14.912233,
        "fair_value": 12.027624,
        "relative_strength": 0.695829,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": -18.553431,
        "energy": 33.48552,
        "activity_lines": [
          15.234933,
          15.714946,
          15.839086,
          15.505194
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      },
      {
        "date": "2026-07-03",
        "close": 14.803,
        "volume": 1728,
        "typical_volume": 40538.45,
        "trend": 14.9668,
        "fair_value": 12.053971,
        "relative_strength": -0.37147,
        "stage": 3,
        "regime": "deceleration",
        "modifier": "Momentum cooling",
        "gate": "up",
        "direction": -15.639159,
        "energy": 39.183332,
        "activity_lines": [
          15.009667,
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          15.757319,
          15.498146
        ]
      },
      {
        "date": "2026-07-10",
        "close": 15.162,
        "volume": 7741,
        "typical_volume": 38939.95,
        "trend": 15.044767,
        "fair_value": 12.080983,
        "relative_strength": 3.671389,
        "stage": 3,
        "regime": "deceleration",
        "modifier": "Momentum cooling",
        "gate": "mixed",
        "direction": -26.056967,
        "energy": 52.179318,
        "activity_lines": [
          14.994533,
          15.367291,
          15.705291,
          15.51074
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      },
      {
        "date": "2026-07-17",
        "close": 15.71,
        "volume": 7028,
        "typical_volume": 38887.45,
        "trend": 15.1426,
        "fair_value": 12.110349,
        "relative_strength": 6.182192,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Momentum cooling",
        "gate": "up",
        "direction": -2.287118,
        "energy": 32.194022,
        "activity_lines": [
          15.212067,
          15.366473,
          15.700614,
          15.553658
        ]
      },
      {
        "date": "2026-07-24",
        "close": 16.165001,
        "volume": 15295,
        "typical_volume": 38073.35,
        "trend": 15.242967,
        "fair_value": 12.141708,
        "relative_strength": 7.589614,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 38.47335,
        "energy": 19.299669,
        "activity_lines": [
          15.564734,
          15.462491,
          15.732948,
          15.619619
        ]
      },
      {
        "date": "2026-07-31",
        "close": 15.856,
        "volume": 10136,
        "typical_volume": 35597.85,
        "trend": 15.341433,
        "fair_value": 12.171906,
        "relative_strength": 4.004674,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 37.098291,
        "energy": 29.365394,
        "activity_lines": [
          15.746467,
          15.512746,
          15.73241,
          15.65917
        ]
      },
      {
        "date": "2026-08-07",
        "close": 15.852,
        "volume": 52401,
        "typical_volume": 34734.95,
        "trend": 15.426933,
        "fair_value": 12.202188,
        "relative_strength": 3.417448,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Re-acceleration watch",
        "gate": "up",
        "direction": 39.202751,
        "energy": 35.7675,
        "activity_lines": [
          15.850734,
          15.575109,
          15.731843,
          15.69211
        ]
      }
    ],
    "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."
    }
  }
}