{
  "ticker": {
    "uuid": "a8a750c3-7cd3-4654-8edd-dda7dd5580f2",
    "symbol": "VPN",
    "name": "Global X Data Center REITS & Digital Infrastructure 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": "2b",
    "phase_label": "Stage 2B \u00b7 Advancing",
    "transition": "stage_2_healthy",
    "transition_label": "Stage 2 trend intact",
    "confidence": 89.913,
    "architecture_regime": "deceleration",
    "architecture_regime_label": "Deceleration",
    "architecture_modifier": "Recompressing",
    "architecture_gate": "up",
    "architecture_direction": 3.341,
    "architecture_energy": 22.116,
    "architecture_maturity": 60.11,
    "architecture_confidence": 77.686,
    "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": 58.05,
        "rotation_up": 14.96,
        "upward_expansion": 42.55,
        "deceleration": 87.56,
        "rotation_down": 42.54,
        "downward_expansion": 34.21
      },
      "activity_lines": [
        25.554,
        26.164546,
        26.600441,
        25.939102
      ],
      "activity_state": "Moderate",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": -0.333333
    },
    "latest_close": 25.785,
    "trend_reference": 24.92175,
    "distance_from_trend": 0.034638,
    "trend_direction": "Improving",
    "fair_value": 16.82557,
    "distance_from_fair_value": 0.532489,
    "fair_value_direction": "Weakening",
    "relative_strength": 7.388851,
    "relative_strength_direction": "Weakening",
    "price_momentum": 0.173646,
    "excess_performance": 0.122411,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.034638,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.115006,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.532489,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.22748,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.073889,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.248062,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.173646,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 1.653352,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 73653,
      "relative_activity": 0.591293,
      "balance": 1.653352,
      "dry_up": 0.613868,
      "accumulation_observations": 2,
      "distribution_observations": 1
    },
    "risk": {
      "range_context": 0.054694,
      "annualized_volatility": 0.277372,
      "from_high_reference": -0.114678,
      "from_low_reference": 0.58132
    },
    "levels": {
      "trend_reference": 24.92175,
      "fair_value_reference": 16.82557,
      "structural_low": 20.885,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 8,
        "median_return": 0.020839,
        "positive_rate": 0.75,
        "directional_follow_through": 0.75,
        "median_excess_return": 0.020857,
        "regime_survival": 0.5,
        "best_return": 0.187274,
        "worst_return": -0.039765,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 5,
        "median_return": 0.126206,
        "positive_rate": 1.0,
        "directional_follow_through": 1.0,
        "median_excess_return": 0.078119,
        "regime_survival": 0.2,
        "best_return": 0.234062,
        "worst_return": 0.074901,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 3,
        "median_return": 0.185798,
        "positive_rate": 1.0,
        "directional_follow_through": 1.0,
        "median_excess_return": 0.153518,
        "regime_survival": 0.0,
        "best_return": 0.530456,
        "worst_return": 0.009387,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
        "sample_count": 1,
        "median_return": 0.036929,
        "positive_rate": 1.0,
        "directional_follow_through": 1.0,
        "median_excess_return": 0.040856,
        "regime_survival": 0.0,
        "best_return": 0.036929,
        "worst_return": 0.036929,
        "sufficient": false
      }
    ],
    "ledger": [
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2024-11-22",
        "end": "2024-12-06",
        "tenure": "New",
        "return": 0.030117,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2024-12-13",
        "end": "2024-12-20",
        "tenure": "New",
        "return": -0.03989,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2024-12-27",
        "end": "2025-02-21",
        "tenure": "Developing",
        "return": 0.164779,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-02-28",
        "end": "2025-03-21",
        "tenure": "New",
        "return": -0.021492,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-03-28",
        "end": "2025-04-04",
        "tenure": "New",
        "return": -0.043241,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2025-04-11",
        "end": "2025-05-09",
        "tenure": "Developing",
        "return": 0.125686,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-05-16",
        "end": "2025-05-23",
        "tenure": "New",
        "return": -0.011996,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
        "start": "2025-05-30",
        "end": "2025-06-20",
        "tenure": "New",
        "return": 0.050968,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-06-27",
        "end": "2025-11-21",
        "tenure": "Established",
        "return": 0.055114,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2025-11-28",
        "end": "2026-01-09",
        "tenure": "Developing",
        "return": 0.11004,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
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        "end": "2026-03-27",
        "tenure": "Developing",
        "return": -0.010611,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
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        "end": "2026-04-17",
        "tenure": "New",
        "return": 0.151947,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
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        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
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        "end": "2026-08-07",
        "tenure": "New",
        "return": 0.035334,
        "active": true
      }
    ],
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        "date": "2023-08-18",
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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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      },
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        "date": "2026-05-29",
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        "date": "2026-06-05",
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      {
        "date": "2026-06-26",
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      },
      {
        "date": "2026-07-03",
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        "typical_volume": 127850.65,
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        "fair_value": 16.391423,
        "relative_strength": 14.337724,
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      },
      {
        "date": "2026-07-10",
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        "typical_volume": 127576.0,
        "trend": 24.138417,
        "fair_value": 16.482077,
        "relative_strength": 16.641854,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
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        "direction": 44.912106,
        "energy": 33.672921,
        "activity_lines": [
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      },
      {
        "date": "2026-07-17",
        "close": 24.905001,
        "volume": 69569,
        "typical_volume": 122319.65,
        "trend": 24.346017,
        "fair_value": 16.564455,
        "relative_strength": 8.032483,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 14.820617,
        "energy": 25.389969,
        "activity_lines": [
          26.270334,
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          25.737454
        ]
      },
      {
        "date": "2026-07-24",
        "close": 26.035,
        "volume": 88657,
        "typical_volume": 123559.15,
        "trend": 24.580517,
        "fair_value": 16.652647,
        "relative_strength": 11.008927,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 21.761358,
        "energy": 29.137032,
        "activity_lines": [
          25.987334,
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          26.701976,
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        ]
      },
      {
        "date": "2026-07-31",
        "close": 24.985001,
        "volume": 73981,
        "typical_volume": 124144.75,
        "trend": 24.752917,
        "fair_value": 16.735583,
        "relative_strength": 4.827666,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": -5.228507,
        "energy": 24.039508,
        "activity_lines": [
          25.542667,
          26.398955,
          26.618655,
          25.872516
        ]
      },
      {
        "date": "2026-08-07",
        "close": 25.785,
        "volume": 73653,
        "typical_volume": 124562.6,
        "trend": 24.92175,
        "fair_value": 16.82557,
        "relative_strength": 7.388851,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 3.34069,
        "energy": 22.115921,
        "activity_lines": [
          25.554,
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          26.600441,
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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."
    }
  }
}