{
  "ticker": {
    "uuid": "c13b966e-79eb-43a4-b302-6ee305d77bb7",
    "symbol": "IUKP",
    "name": "iShares UK Property UCITS ETF",
    "exchange": "EBS",
    "country": "CH",
    "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": "^SSMI",
    "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": 96.0,
    "architecture_regime": "upward_expansion",
    "architecture_regime_label": "Upward Expansion",
    "architecture_modifier": "Early expansion",
    "architecture_gate": "up",
    "architecture_direction": 78.713,
    "architecture_energy": 92.177,
    "architecture_maturity": 18.608,
    "architecture_confidence": 77.329,
    "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": 7.3,
        "rotation_up": 86.46,
        "upward_expansion": 99.96,
        "deceleration": 39.01,
        "rotation_down": 8.19,
        "downward_expansion": 21.96
      },
      "activity_lines": [
        5.057,
        4.917418,
        4.679358,
        4.576012
      ],
      "activity_state": "Wide",
      "activity_direction": "Expanding",
      "rotation_direction": "Improving",
      "price_acceptance": 1.0
    },
    "latest_close": 5.106,
    "trend_reference": 4.508193,
    "distance_from_trend": 0.132605,
    "trend_direction": "Improving",
    "fair_value": 4.45191,
    "distance_from_fair_value": 0.146923,
    "fair_value_direction": "Improving",
    "relative_strength": 4.727425,
    "relative_strength_direction": "Improving",
    "price_momentum": 0.109431,
    "excess_performance": 0.026548,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.132605,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.03466,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.146923,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.171213,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.047274,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.090114,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.109431,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 5.287453,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 2,
      "relative_activity": 3.2e-05,
      "balance": 5.287453,
      "dry_up": 1.04209,
      "accumulation_observations": 2,
      "distribution_observations": 0
    },
    "risk": {
      "range_context": 0.026217,
      "annualized_volatility": 0.23911,
      "from_high_reference": -0.007001,
      "from_low_reference": 0.299352
    },
    "levels": {
      "trend_reference": 4.508193,
      "fair_value_reference": 4.45191,
      "structural_low": 3.929652,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 19,
        "median_return": -0.021647,
        "positive_rate": 0.421053,
        "directional_follow_through": 0.421053,
        "median_excess_return": -0.003709,
        "regime_survival": 0.631579,
        "best_return": 0.066179,
        "worst_return": -0.112642,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 8,
        "median_return": -0.023979,
        "positive_rate": 0.25,
        "directional_follow_through": 0.25,
        "median_excess_return": -0.023574,
        "regime_survival": 0.375,
        "best_return": 0.067937,
        "worst_return": -0.156223,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 6,
        "median_return": -0.024052,
        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
        "median_excess_return": -0.05638,
        "regime_survival": 0.5,
        "best_return": 0.114307,
        "worst_return": -0.206249,
        "sufficient": true
      },
      {
        "horizon": "Full cycle",
        "sample_count": 3,
        "median_return": -0.072522,
        "positive_rate": 0.0,
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        "median_excess_return": -0.113064,
        "regime_survival": 0.0,
        "best_return": -0.010568,
        "worst_return": -0.152896,
        "sufficient": false
      }
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        "label": "Deceleration",
        "color": "amber",
        "start": "2025-03-28",
        "end": "2025-04-04",
        "tenure": "New",
        "return": -0.031871,
        "active": false
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      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2025-04-11",
        "end": "2025-04-25",
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        "return": 0.129738,
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      },
      {
        "regime": "balance",
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      {
        "regime": "rotation_up",
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        "regime": "upward_expansion",
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        "regime": "deceleration",
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        "active": false
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        "active": false
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        "regime": "downward_expansion",
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        "relative_strength": -4.189841,
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        "modifier": "Supply rotation",
        "gate": "mixed",
        "direction": -15.70533,
        "energy": 15.55432,
        "activity_lines": [
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      },
      {
        "date": "2026-05-01",
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        "volume": 62,
        "typical_volume": 45004.4,
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        "fair_value": 4.420394,
        "relative_strength": -7.071161,
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        "regime": "rotation_down",
        "modifier": "Supply rotation",
        "gate": "mixed",
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        "energy": 17.482714,
        "activity_lines": [
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      },
      {
        "date": "2026-05-08",
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        "volume": 231351,
        "typical_volume": 56571.95,
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        "fair_value": 4.419664,
        "relative_strength": -4.28402,
        "stage": 3,
        "regime": "rotation_down",
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        "activity_lines": [
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      },
      {
        "date": "2026-05-15",
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        "typical_volume": 56509.5,
        "trend": 4.357635,
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        "direction": -60.888744,
        "energy": 34.056061,
        "activity_lines": [
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      },
      {
        "date": "2026-05-22",
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        "typical_volume": 63327.15,
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        "relative_strength": -7.318849,
        "stage": 3,
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      },
      {
        "date": "2026-05-29",
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        "typical_volume": 59489.05,
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        "relative_strength": -5.332009,
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      },
      {
        "date": "2026-06-05",
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        "fair_value": 4.415276,
        "relative_strength": -5.556096,
        "stage": 3,
        "regime": "balance",
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        "energy": 17.336575,
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      },
      {
        "date": "2026-06-12",
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        "stage": 3,
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      },
      {
        "date": "2026-06-19",
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        "stage": 3,
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        "gate": "mixed",
        "direction": 19.005648,
        "energy": 27.294154,
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      },
      {
        "date": "2026-06-26",
        "close": 4.7695,
        "volume": 5305,
        "typical_volume": 54163.55,
        "trend": 4.38514,
        "fair_value": 4.423141,
        "relative_strength": -0.177093,
        "stage": 3,
        "regime": "rotation_up",
        "modifier": "Structural repair",
        "gate": "mixed",
        "direction": 51.443599,
        "energy": 67.245263,
        "activity_lines": [
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          4.37
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      },
      {
        "date": "2026-07-03",
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        "volume": 0,
        "typical_volume": 51788.75,
        "trend": 4.398842,
        "fair_value": 4.427677,
        "relative_strength": -1.840396,
        "stage": 2,
        "regime": "rotation_up",
        "modifier": "Value reclamation",
        "gate": "mixed",
        "direction": 50.746047,
        "energy": 76.628448,
        "activity_lines": [
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      },
      {
        "date": "2026-07-10",
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        "volume": 55731,
        "typical_volume": 54575.1,
        "trend": 4.419623,
        "fair_value": 4.43161,
        "relative_strength": 0.507742,
        "stage": 2,
        "regime": "rotation_up",
        "modifier": "Value reclamation",
        "gate": "up",
        "direction": 83.131374,
        "energy": 92.755198,
        "activity_lines": [
          4.715067,
          4.568607,
          4.429752,
          4.420711
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      },
      {
        "date": "2026-07-17",
        "close": 4.937,
        "volume": 209172,
        "typical_volume": 63998.85,
        "trend": 4.441711,
        "fair_value": 4.43533,
        "relative_strength": 2.532046,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 89.028263,
        "energy": 95.681631,
        "activity_lines": [
          4.810867,
          4.655437,
          4.484415,
          4.45409
        ]
      },
      {
        "date": "2026-07-24",
        "close": 5.092,
        "volume": 36497,
        "typical_volume": 65224.85,
        "trend": 4.467648,
        "fair_value": 4.440536,
        "relative_strength": 5.896446,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 91.338133,
        "energy": 96.379027,
        "activity_lines": [
          4.9283,
          4.759091,
          4.552457,
          4.496045
        ]
      },
      {
        "date": "2026-07-31",
        "close": 5.092,
        "volume": 16178,
        "typical_volume": 62844.45,
        "trend": 4.490852,
        "fair_value": 4.446072,
        "relative_strength": 5.803349,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 84.499389,
        "energy": 94.146169,
        "activity_lines": [
          5.001067,
          4.844364,
          4.617382,
          4.536325
        ]
      },
      {
        "date": "2026-08-07",
        "close": 5.106,
        "volume": 2,
        "typical_volume": 62818.25,
        "trend": 4.508193,
        "fair_value": 4.45191,
        "relative_strength": 4.727425,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 78.712513,
        "energy": 92.17718,
        "activity_lines": [
          5.057,
          4.917418,
          4.679358,
          4.576012
        ]
      }
    ],
    "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."
    }
  }
}