{
  "ticker": {
    "uuid": "ae45930d-1c06-4bd2-b8c8-ba8749f94f0a",
    "symbol": "WGB",
    "name": "WAM Global 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": 4,
    "stage_name": "Declining",
    "phase": "4b",
    "phase_label": "Stage 4B \u00b7 Declining",
    "transition": "stage_4_declining",
    "transition_label": "Stage 4 decline intact",
    "confidence": 73.933,
    "architecture_regime": "balance",
    "architecture_regime_label": "Balance",
    "architecture_modifier": "Balance after decline",
    "architecture_gate": "down",
    "architecture_direction": -3.344,
    "architecture_energy": 12.68,
    "architecture_maturity": 8.148,
    "architecture_confidence": 55.089,
    "architecture_tenure": "New",
    "architecture": {
      "interpretation": {
        "headline": "Directional pressure has compressed into balance.",
        "body": "Trend and Activity are compressed into balance, so neither side has durable control. Prior structure and the next directional change provide context; balance alone is not assumed to be a base."
      },
      "scores": {
        "balance": 52.07,
        "rotation_up": 36.33,
        "upward_expansion": 37.75,
        "deceleration": 28.22,
        "rotation_down": 22.88,
        "downward_expansion": 43.75
      },
      "activity_lines": [
        2.204,
        2.194364,
        2.184257,
        2.18434
      ],
      "activity_state": "Compressed",
      "activity_direction": "Expanding",
      "rotation_direction": "Improving",
      "price_acceptance": 0.5
    },
    "latest_close": 2.21,
    "trend_reference": 2.205925,
    "distance_from_trend": 0.001847,
    "trend_direction": "Weakening",
    "fair_value": 2.071195,
    "distance_from_fair_value": 0.067017,
    "fair_value_direction": "Weakening",
    "relative_strength": -7.759362,
    "relative_strength_direction": "Weakening",
    "price_momentum": -0.047624,
    "excess_performance": -0.111329,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.001847,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": false,
        "value": -0.025657,
        "read": "Falling"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.067017,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.011564,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.077594,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.020171,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": false,
        "value": -0.047624,
        "read": "Negative"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 1.573045,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 1142603,
      "relative_activity": 1.112468,
      "balance": 1.573045,
      "dry_up": 1.232894,
      "accumulation_observations": 4,
      "distribution_observations": 2
    },
    "risk": {
      "range_context": 0.024713,
      "annualized_volatility": 0.1837,
      "from_high_reference": -0.115168,
      "from_low_reference": 0.094317
    },
    "levels": {
      "trend_reference": 2.205925,
      "fair_value_reference": 2.071195,
      "structural_low": 2.019524,
      "invalidation": "Reclaiming a flat-to-rising Trend with improving relative strength is required before the declining diagnosis is repaired."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 16,
        "median_return": 0.004587,
        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
        "median_excess_return": -0.00553,
        "regime_survival": 0.6875,
        "best_return": 0.046083,
        "worst_return": -0.100251,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 5,
        "median_return": 0.0,
        "positive_rate": 0.4,
        "directional_follow_through": 0.4,
        "median_excess_return": 0.002452,
        "regime_survival": 0.4,
        "best_return": 0.065367,
        "worst_return": -0.049668,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 4,
        "median_return": 0.000341,
        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
        "median_excess_return": -0.04113,
        "regime_survival": 0.25,
        "best_return": 0.118636,
        "worst_return": -0.076895,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
        "sample_count": 2,
        "median_return": 0.147565,
        "positive_rate": 1.0,
        "directional_follow_through": 1.0,
        "median_excess_return": 0.075647,
        "regime_survival": 0.0,
        "best_return": 0.232055,
        "worst_return": 0.063075,
        "sufficient": false
      }
    ],
    "ledger": [
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2024-05-17",
        "end": "2024-05-31",
        "tenure": "New",
        "return": 0.0,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2024-06-07",
        "end": "2024-07-05",
        "tenure": "Developing",
        "return": -0.013393,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2024-07-12",
        "end": "2024-09-13",
        "tenure": "Developing",
        "return": 0.03653,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2024-09-20",
        "end": "2024-10-25",
        "tenure": "Developing",
        "return": -0.013158,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2024-11-01",
        "end": "2024-11-15",
        "tenure": "New",
        "return": 0.017621,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2024-11-22",
        "end": "2025-03-21",
        "tenure": "Established",
        "return": 0.054546,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2025-03-28",
        "end": "2025-05-09",
        "tenure": "Developing",
        "return": 0.054852,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-05-16",
        "end": "2025-09-12",
        "tenure": "Established",
        "return": 0.014003,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2025-09-19",
        "end": "2025-11-21",
        "tenure": "Developing",
        "return": -0.018893,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-11-28",
        "end": "2026-02-20",
        "tenure": "Established",
        "return": -0.049793,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2026-02-27",
        "end": "2026-06-12",
        "tenure": "Established",
        "return": -0.044245,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2026-06-19",
        "end": "2026-06-26",
        "tenure": "New",
        "return": -0.027523,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2026-07-03",
        "end": "2026-07-10",
        "tenure": "New",
        "return": 0.02765,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2026-07-17",
        "end": "2026-08-07",
        "tenure": "New",
        "return": 0.004545,
        "active": true
      }
    ],
    "chart_path": [
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        "date": "2023-08-18",
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        "typical_volume": 1035901.35,
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      },
      {
        "date": "2023-08-25",
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      },
      {
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      },
      {
        "date": "2026-04-17",
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      {
        "date": "2026-04-24",
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      },
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        "date": "2026-05-15",
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      },
      {
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      },
      {
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      {
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      },
      {
        "date": "2026-06-26",
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      },
      {
        "date": "2026-07-03",
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      },
      {
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        "modifier": "Early contraction",
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      },
      {
        "date": "2026-07-17",
        "close": 2.2,
        "volume": 920741,
        "typical_volume": 1007463.4,
        "trend": 2.224116,
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        "stage": 4,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
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        "energy": 6.348055,
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          2.19,
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          2.173457,
          2.18719
        ]
      },
      {
        "date": "2026-07-24",
        "close": 2.22,
        "volume": 1869348,
        "typical_volume": 1025270.05,
        "trend": 2.218823,
        "fair_value": 2.064111,
        "relative_strength": -2.674613,
        "stage": 4,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": 0.704024,
        "energy": 13.44485,
        "activity_lines": [
          2.203333,
          2.190182,
          2.178764,
          2.186924
        ]
      },
      {
        "date": "2026-07-31",
        "close": 2.18,
        "volume": 1132473,
        "typical_volume": 1024428.2,
        "trend": 2.211227,
        "fair_value": 2.067637,
        "relative_strength": -6.343254,
        "stage": 4,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -8.057605,
        "energy": 15.555741,
        "activity_lines": [
          2.200667,
          2.189455,
          2.18014,
          2.18442
        ]
      },
      {
        "date": "2026-08-07",
        "close": 2.21,
        "volume": 1142603,
        "typical_volume": 1027088.1,
        "trend": 2.205925,
        "fair_value": 2.071195,
        "relative_strength": -7.759362,
        "stage": 4,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -3.344493,
        "energy": 12.679586,
        "activity_lines": [
          2.204,
          2.194364,
          2.184257,
          2.18434
        ]
      }
    ],
    "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."
    }
  }
}