{
  "ticker": {
    "uuid": "9a25f415-5e6b-43d1-9b4b-4adf037d5cff",
    "symbol": "XDEM",
    "name": "Xtrackers MSCI World Momentum UCITS ETF 1C",
    "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": 96.0,
    "architecture_regime": "deceleration",
    "architecture_regime_label": "Deceleration",
    "architecture_modifier": "Recompressing",
    "architecture_gate": "up",
    "architecture_direction": 28.679,
    "architecture_energy": 26.08,
    "architecture_maturity": 66.527,
    "architecture_confidence": 88.263,
    "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": 47.88,
        "rotation_up": 18.98,
        "upward_expansion": 53.69,
        "deceleration": 94.0,
        "rotation_down": 34.48,
        "downward_expansion": 19.69
      },
      "activity_lines": [
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        7237.080952,
        7018.255914
      ],
      "activity_state": "Moderate",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": 0.0
    },
    "latest_close": 7213.0,
    "trend_reference": 6746.883333,
    "distance_from_trend": 0.069086,
    "trend_direction": "Improving",
    "fair_value": 5417.743909,
    "distance_from_fair_value": 0.331366,
    "fair_value_direction": "Weakening",
    "relative_strength": 3.109506,
    "relative_strength_direction": "Weakening",
    "price_momentum": 0.17466,
    "excess_performance": 0.123425,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.069086,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.069166,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.331366,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.028379,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.031095,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.05808,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.17466,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 1.302511,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 92814,
      "relative_activity": 1.455358,
      "balance": 1.302511,
      "dry_up": 1.026308,
      "accumulation_observations": 4,
      "distribution_observations": 2
    },
    "risk": {
      "range_context": 0.045123,
      "annualized_volatility": 0.19956,
      "from_high_reference": -0.102531,
      "from_low_reference": 0.269224
    },
    "levels": {
      "trend_reference": 6746.883333,
      "fair_value_reference": 5417.743909,
      "structural_low": 5743.0,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 12,
        "median_return": 0.016284,
        "positive_rate": 0.583333,
        "directional_follow_through": 0.583333,
        "median_excess_return": 0.006745,
        "regime_survival": 0.5,
        "best_return": 0.067479,
        "worst_return": -0.083085,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 7,
        "median_return": 0.052941,
        "positive_rate": 0.714286,
        "directional_follow_through": 0.714286,
        "median_excess_return": 0.005936,
        "regime_survival": 0.285714,
        "best_return": 0.134385,
        "worst_return": -0.043748,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 5,
        "median_return": 0.081778,
        "positive_rate": 0.6,
        "directional_follow_through": 0.6,
        "median_excess_return": 0.063255,
        "regime_survival": 0.0,
        "best_return": 0.228352,
        "worst_return": -0.147813,
        "sufficient": true
      },
      {
        "horizon": "Full cycle",
        "sample_count": 2,
        "median_return": -0.005386,
        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
        "median_excess_return": -0.019402,
        "regime_survival": 0.0,
        "best_return": 0.073864,
        "worst_return": -0.084635,
        "sufficient": false
      }
    ],
    "ledger": [
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2024-05-10",
        "end": "2024-05-17",
        "tenure": "New",
        "return": 0.001623,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2024-05-24",
        "end": "2024-07-26",
        "tenure": "Developing",
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        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2024-08-02",
        "end": "2024-10-11",
        "tenure": "Developing",
        "return": 0.109935,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2024-10-18",
        "end": "2025-03-07",
        "tenure": "Established",
        "return": -0.007992,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2025-03-14",
        "end": "2025-03-28",
        "tenure": "New",
        "return": -0.006557,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2025-04-04",
        "end": "2025-04-18",
        "tenure": "New",
        "return": 0.03308,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2025-04-25",
        "end": "2025-05-16",
        "tenure": "New",
        "return": 0.085309,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-05-23",
        "end": "2025-06-06",
        "tenure": "New",
        "return": 0.032445,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
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        "end": "2025-08-01",
        "tenure": "Developing",
        "return": 0.043044,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-08-08",
        "end": "2025-11-14",
        "tenure": "Established",
        "return": 0.053663,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
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        "end": "2026-02-27",
        "tenure": "Established",
        "return": 0.080786,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
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        "active": false
      },
      {
        "regime": "upward_expansion",
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        "return": 0.048017,
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      },
      {
        "regime": "deceleration",
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        "return": -0.007158,
        "active": true
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      },
      {
        "date": "2026-04-10",
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      },
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        "date": "2026-04-17",
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      },
      {
        "date": "2026-04-24",
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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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      },
      {
        "date": "2026-05-29",
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        "relative_strength": 11.082165,
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      },
      {
        "date": "2026-06-05",
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        "regime": "upward_expansion",
        "modifier": "Early expansion",
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        "energy": 88.397434,
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      },
      {
        "date": "2026-06-12",
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      },
      {
        "date": "2026-06-19",
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      },
      {
        "date": "2026-06-26",
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      },
      {
        "date": "2026-07-03",
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      },
      {
        "date": "2026-07-10",
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        "stage": 2,
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        "energy": 68.697491,
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      },
      {
        "date": "2026-07-17",
        "close": 7028.0,
        "volume": 58836,
        "typical_volume": 65787.5,
        "trend": 6645.85,
        "fair_value": 5352.231088,
        "relative_strength": 3.621469,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 49.641736,
        "energy": 45.257,
        "activity_lines": [
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          7415.890909,
          7163.138095,
          6923.095699
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      },
      {
        "date": "2026-07-24",
        "close": 7265.0,
        "volume": 54981,
        "typical_volume": 62944.35,
        "trend": 6683.883333,
        "fair_value": 5374.442627,
        "relative_strength": 5.598574,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 42.033851,
        "energy": 29.706865,
        "activity_lines": [
          7291.4,
          7393.945455,
          7201.852381,
          6963.04086
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      },
      {
        "date": "2026-07-31",
        "close": 7042.0,
        "volume": 55176,
        "typical_volume": 61536.2,
        "trend": 6715.283333,
        "fair_value": 5395.468268,
        "relative_strength": 1.054267,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 32.90754,
        "energy": 28.385581,
        "activity_lines": [
          7178.733333,
          7329.054545,
          7213.759524,
          6986.145161
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      },
      {
        "date": "2026-08-07",
        "close": 7213.0,
        "volume": 92814,
        "typical_volume": 63774.0,
        "trend": 6746.883333,
        "fair_value": 5417.743909,
        "relative_strength": 3.109506,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 28.679342,
        "energy": 26.079991,
        "activity_lines": [
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          7237.080952,
          7018.255914
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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."
    }
  }
}