{
  "ticker": {
    "uuid": "a4a5986f-469a-491a-968c-24f95548d501",
    "symbol": "WLE",
    "name": "WAM Leaders Limited",
    "exchange": "ASX",
    "country": "AU",
    "assetType": "equity"
  },
  "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": "^AXJO",
    "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": 75.925,
    "architecture_regime": "upward_expansion",
    "architecture_regime_label": "Upward Expansion",
    "architecture_modifier": "Re-accelerating",
    "architecture_gate": "up",
    "architecture_direction": 67.193,
    "architecture_energy": 65.488,
    "architecture_maturity": 13.325,
    "architecture_confidence": 77.031,
    "architecture_tenure": "Developing",
    "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": 9.75,
        "rotation_up": 71.53,
        "upward_expansion": 89.09,
        "deceleration": 45.09,
        "rotation_down": 11.97,
        "downward_expansion": 13.42
      },
      "activity_lines": [
        1.39,
        1.377,
        1.355142,
        1.347595
      ],
      "activity_state": "Wide",
      "activity_direction": "Expanding",
      "rotation_direction": "Improving",
      "price_acceptance": 0.833333
    },
    "latest_close": 1.395,
    "trend_reference": 1.339336,
    "distance_from_trend": 0.041561,
    "trend_direction": "Improving",
    "fair_value": 1.203448,
    "distance_from_fair_value": 0.15917,
    "fair_value_direction": "Improving",
    "relative_strength": 1.348214,
    "relative_strength_direction": "Weakening",
    "price_momentum": 0.07002,
    "excess_performance": 0.006314,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.041561,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.026355,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.15917,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.04916,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.013482,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.033348,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.07002,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 1.312527,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 2737047,
      "relative_activity": 0.713912,
      "balance": 1.312527,
      "dry_up": 0.966402,
      "accumulation_observations": 3,
      "distribution_observations": 2
    },
    "risk": {
      "range_context": 0.022884,
      "annualized_volatility": 0.111594,
      "from_high_reference": -0.014134,
      "from_low_reference": 0.150207
    },
    "levels": {
      "trend_reference": 1.339336,
      "fair_value_reference": 1.203448,
      "structural_low": 1.279571,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 23,
        "median_return": -0.003571,
        "positive_rate": 0.304348,
        "directional_follow_through": 0.304348,
        "median_excess_return": -0.000192,
        "regime_survival": 0.521739,
        "best_return": 0.065789,
        "worst_return": -0.078788,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 11,
        "median_return": -0.01959,
        "positive_rate": 0.363636,
        "directional_follow_through": 0.363636,
        "median_excess_return": -0.024832,
        "regime_survival": 0.181818,
        "best_return": 0.066406,
        "worst_return": -0.073341,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 9,
        "median_return": 0.012721,
        "positive_rate": 0.666667,
        "directional_follow_through": 0.666667,
        "median_excess_return": -0.015009,
        "regime_survival": 0.444444,
        "best_return": 0.10791,
        "worst_return": -0.041552,
        "sufficient": true
      },
      {
        "horizon": "Full cycle",
        "sample_count": 4,
        "median_return": -0.004845,
        "positive_rate": 0.25,
        "directional_follow_through": 0.25,
        "median_excess_return": -0.005719,
        "regime_survival": 0.25,
        "best_return": 0.056669,
        "worst_return": -0.006169,
        "sufficient": false
      }
    ],
    "ledger": [
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        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2024-11-08",
        "end": "2024-11-15",
        "tenure": "New",
        "return": -0.011029,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
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        "end": "2024-12-06",
        "tenure": "New",
        "return": -0.020243,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
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        "end": "2025-01-03",
        "tenure": "New",
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        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2025-01-10",
        "end": "2025-01-17",
        "tenure": "New",
        "return": 0.012,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
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        "tenure": "Developing",
        "return": 0.035573,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
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        "return": 0.0,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
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        "tenure": "Developing",
        "return": -0.050986,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
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        "end": "2025-05-09",
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        "active": false
      },
      {
        "regime": "balance",
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        "active": false
      },
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        "regime": "upward_expansion",
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        "tenure": "Established",
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        "active": false
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        "regime": "deceleration",
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      {
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        "active": true
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      },
      {
        "date": "2026-07-03",
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      },
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      },
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        "date": "2026-07-17",
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        "stage": 2,
        "regime": "upward_expansion",
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        "direction": 60.313387,
        "energy": 70.816697,
        "activity_lines": [
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      },
      {
        "date": "2026-07-24",
        "close": 1.385,
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        "typical_volume": 4130697.25,
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        "fair_value": 1.200858,
        "relative_strength": 6.625207,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
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        "direction": 68.623369,
        "energy": 76.535881,
        "activity_lines": [
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      },
      {
        "date": "2026-07-31",
        "close": 1.395,
        "volume": 5087859,
        "typical_volume": 4090309.9,
        "trend": 1.335971,
        "fair_value": 1.20214,
        "relative_strength": 4.73924,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 69.989143,
        "energy": 75.055093,
        "activity_lines": [
          1.387,
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          1.34986,
          1.343787
        ]
      },
      {
        "date": "2026-08-07",
        "close": 1.395,
        "volume": 2737047,
        "typical_volume": 3833871.05,
        "trend": 1.339336,
        "fair_value": 1.203448,
        "relative_strength": 1.348214,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 67.193303,
        "energy": 65.487885,
        "activity_lines": [
          1.39,
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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."
    }
  }
}