{
  "ticker": {
    "uuid": "9f16334f-aee9-4279-994d-64e9ad74ec10",
    "symbol": "TSLS",
    "name": "Leverage Shares -1x Tesla ETP Scs",
    "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": 1,
    "stage_name": "Basing",
    "phase": "1b",
    "phase_label": "Stage 1B \u00b7 Basing",
    "transition": "stage_1_building",
    "transition_label": "Base still building",
    "confidence": 96.0,
    "architecture_regime": "upward_expansion",
    "architecture_regime_label": "Upward Expansion",
    "architecture_modifier": "Early expansion",
    "architecture_gate": "up",
    "architecture_direction": 60.579,
    "architecture_energy": 76.849,
    "architecture_maturity": 13.457,
    "architecture_confidence": 74.405,
    "architecture_tenure": "New",
    "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": 22.76,
        "rotation_up": 72.79,
        "upward_expansion": 88.7,
        "deceleration": 47.56,
        "rotation_down": 13.38,
        "downward_expansion": 22.37
      },
      "activity_lines": [
        26.2745,
        24.931455,
        23.948988,
        23.875839
      ],
      "activity_state": "Moderate",
      "activity_direction": "Expanding",
      "rotation_direction": "Improving",
      "price_acceptance": 0.166667
    },
    "latest_close": 25.815001,
    "trend_reference": 23.613833,
    "distance_from_trend": 0.093215,
    "trend_direction": "Improving",
    "fair_value": 46.307304,
    "distance_from_fair_value": -0.442529,
    "fair_value_direction": "Improving",
    "relative_strength": -0.770565,
    "relative_strength_direction": "Improving",
    "price_momentum": 0.109249,
    "excess_performance": 0.058014,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.093215,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.027552,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": false,
        "value": -0.442529,
        "read": "Below anchor"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.126697,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.007706,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.227987,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.109249,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 3.055932,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 15,
      "relative_activity": 0.012038,
      "balance": 3.055932,
      "dry_up": 0.334845,
      "accumulation_observations": 0,
      "distribution_observations": 0
    },
    "risk": {
      "range_context": 0.064246,
      "annualized_volatility": 0.469124,
      "from_high_reference": -0.211515,
      "from_low_reference": 0.313573
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    "levels": {
      "trend_reference": 23.613833,
      "fair_value_reference": 46.307304,
      "structural_low": 20.405001,
      "invalidation": "A renewed decline below the structural range low, widening the discount to current Fair Value while Trend falls, weakens the base diagnosis."
    },
    "outcomes": [
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        "horizon": "Near term",
        "sample_count": 12,
        "median_return": -0.08495,
        "positive_rate": 0.416667,
        "directional_follow_through": 0.416667,
        "median_excess_return": -0.10027,
        "regime_survival": 0.583333,
        "best_return": 0.530496,
        "worst_return": -0.333368,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 6,
        "median_return": -0.188027,
        "positive_rate": 0.0,
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        "regime_survival": 0.166667,
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        "worst_return": -0.334194,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 4,
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        "worst_return": -0.521378,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
        "sample_count": 3,
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        "regime_survival": 0.333333,
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        "worst_return": -0.603771,
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      {
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        "typical_volume": 1697.65,
        "trend": 23.184396,
        "fair_value": 51.241903,
        "relative_strength": -16.638625,
        "stage": 1,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
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        "energy": 32.738806,
        "activity_lines": [
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          24.011797,
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      },
      {
        "date": "2026-05-01",
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        "typical_volume": 1701.6,
        "trend": 23.188979,
        "fair_value": 50.732752,
        "relative_strength": -18.643276,
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        "regime": "upward_expansion",
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        "energy": 18.946749,
        "activity_lines": [
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      },
      {
        "date": "2026-05-08",
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        "typical_volume": 1602.0,
        "trend": 23.106062,
        "fair_value": 50.217672,
        "relative_strength": -23.569301,
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        "energy": 18.154351,
        "activity_lines": [
          23.319667,
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        ]
      },
      {
        "date": "2026-05-15",
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        "typical_volume": 1600.2,
        "trend": 23.056896,
        "fair_value": 49.735669,
        "relative_strength": -22.197047,
        "stage": 4,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "mixed",
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        "energy": 27.800438,
        "activity_lines": [
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      },
      {
        "date": "2026-05-22",
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        "volume": 79,
        "typical_volume": 1551.95,
        "trend": 23.004667,
        "fair_value": 49.294531,
        "relative_strength": -23.863162,
        "stage": 4,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "mixed",
        "direction": -26.843048,
        "energy": 33.638092,
        "activity_lines": [
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          23.279693
        ]
      },
      {
        "date": "2026-05-29",
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        "typical_volume": 1450.55,
        "trend": 22.980667,
        "fair_value": 48.921278,
        "relative_strength": -23.668435,
        "stage": 4,
        "regime": "rotation_down",
        "modifier": "Supply rotation",
        "gate": "mixed",
        "direction": -27.656841,
        "energy": 46.823299,
        "activity_lines": [
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      },
      {
        "date": "2026-06-05",
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        "volume": 13,
        "typical_volume": 1446.05,
        "trend": 22.9695,
        "fair_value": 48.622175,
        "relative_strength": -16.731985,
        "stage": 4,
        "regime": "rotation_down",
        "modifier": "Supply rotation",
        "gate": "mixed",
        "direction": -19.952272,
        "energy": 36.788281,
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      },
      {
        "date": "2026-06-12",
        "close": 22.747499,
        "volume": 346,
        "typical_volume": 1449.8,
        "trend": 22.92525,
        "fair_value": 48.34248,
        "relative_strength": -16.612251,
        "stage": 1,
        "regime": "rotation_down",
        "modifier": "Supply rotation",
        "gate": "mixed",
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        "energy": 19.085448,
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      },
      {
        "date": "2026-06-19",
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        "volume": 0,
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        "trend": 22.84875,
        "fair_value": 48.063089,
        "relative_strength": -14.229621,
        "stage": 1,
        "regime": "balance",
        "modifier": "Balance after decline",
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        "activity_lines": [
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      },
      {
        "date": "2026-06-26",
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        "volume": 112,
        "typical_volume": 1425.5,
        "trend": 22.873333,
        "fair_value": 47.801518,
        "relative_strength": -12.079647,
        "stage": 1,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "mixed",
        "direction": 9.686487,
        "energy": 10.656618,
        "activity_lines": [
          22.937333,
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          23.195381,
          23.176865
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      },
      {
        "date": "2026-07-03",
        "close": 22.27,
        "volume": 5,
        "typical_volume": 1345.45,
        "trend": 22.8975,
        "fair_value": 47.55373,
        "relative_strength": -16.911374,
        "stage": 1,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "mixed",
        "direction": -7.526022,
        "energy": 8.590524,
        "activity_lines": [
          22.818333,
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      },
      {
        "date": "2026-07-10",
        "close": 21.6875,
        "volume": 10,
        "typical_volume": 1338.5,
        "trend": 22.891667,
        "fair_value": 47.30397,
        "relative_strength": -16.54897,
        "stage": 1,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "mixed",
        "direction": -17.228364,
        "energy": 10.801333,
        "activity_lines": [
          22.436333,
          22.370545,
          22.901309,
          23.059876
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      },
      {
        "date": "2026-07-17",
        "close": 23.295,
        "volume": 231,
        "typical_volume": 1300.05,
        "trend": 22.99725,
        "fair_value": 47.043586,
        "relative_strength": -10.268369,
        "stage": 1,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "mixed",
        "direction": -1.050103,
        "energy": 3.598221,
        "activity_lines": [
          22.662,
          22.570545,
          22.888643,
          23.085898
        ]
      },
      {
        "date": "2026-07-24",
        "close": 27.915001,
        "volume": 773,
        "typical_volume": 1324.15,
        "trend": 23.264,
        "fair_value": 46.818874,
        "relative_strength": 7.008016,
        "stage": 1,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 69.06862,
        "energy": 54.534043,
        "activity_lines": [
          24.391167,
          23.580318,
          23.317762,
          23.403172
        ]
      },
      {
        "date": "2026-07-31",
        "close": 28.254999,
        "volume": 650,
        "typical_volume": 1280.0,
        "trend": 23.479667,
        "fair_value": 46.586983,
        "relative_strength": 8.005751,
        "stage": 1,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 85.353723,
        "energy": 82.326548,
        "activity_lines": [
          25.897667,
          24.538864,
          23.759631,
          23.725172
        ]
      },
      {
        "date": "2026-08-07",
        "close": 25.815001,
        "volume": 15,
        "typical_volume": 1246.1,
        "trend": 23.613833,
        "fair_value": 46.307304,
        "relative_strength": -0.770565,
        "stage": 1,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 60.578877,
        "energy": 76.848894,
        "activity_lines": [
          26.2745,
          24.931455,
          23.948988,
          23.875839
        ]
      }
    ],
    "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."
    }
  }
}