{
  "ticker": {
    "uuid": "c4cb3f9f-465c-4f05-acf8-c888b55f4c12",
    "symbol": "XMED",
    "name": "Xtrackers MSCI Europe UCITS ETF 1C",
    "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": 96.0,
    "architecture_regime": "upward_expansion",
    "architecture_regime_label": "Upward Expansion",
    "architecture_modifier": "Established expansion",
    "architecture_gate": "up",
    "architecture_direction": 81.017,
    "architecture_energy": 73.436,
    "architecture_maturity": 35.566,
    "architecture_confidence": 87.01,
    "architecture_tenure": "Established",
    "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": 15.37,
        "rotation_up": 64.01,
        "upward_expansion": 86.12,
        "deceleration": 49.86,
        "rotation_down": 17.48,
        "downward_expansion": 15.12
      },
      "activity_lines": [
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        133.684968
      ],
      "activity_state": "Wide",
      "activity_direction": "Expanding",
      "rotation_direction": "Improving",
      "price_acceptance": 0.5
    },
    "latest_close": 141.279999,
    "trend_reference": 132.09,
    "distance_from_trend": 0.069574,
    "trend_direction": "Improving",
    "fair_value": 106.972967,
    "distance_from_fair_value": 0.320707,
    "fair_value_direction": "Improving",
    "relative_strength": 2.587222,
    "relative_strength_direction": "Improving",
    "price_momentum": 0.070627,
    "excess_performance": 0.019392,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.069574,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.034996,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.320707,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.035226,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.025872,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.001367,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.070627,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 2.369754,
        "read": "Demand-led"
      }
    ],
    "volume": {
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      "relative_activity": 0.235548,
      "balance": 2.369754,
      "dry_up": 1.382728,
      "accumulation_observations": 3,
      "distribution_observations": 0
    },
    "risk": {
      "range_context": 0.021695,
      "annualized_volatility": 0.181765,
      "from_high_reference": -0.00451,
      "from_low_reference": 0.238864
    },
    "levels": {
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      "fair_value_reference": 106.972967,
      "structural_low": 116.940002,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
    },
    "outcomes": [
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        "horizon": "Near term",
        "sample_count": 35,
        "median_return": 0.008598,
        "positive_rate": 0.542857,
        "directional_follow_through": 0.542857,
        "median_excess_return": 0.000497,
        "regime_survival": 0.685714,
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        "worst_return": -0.065974,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
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        "worst_return": -0.103564,
        "sufficient": true
      },
      {
        "horizon": "Extended",
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        "worst_return": -0.030079,
        "sufficient": true
      },
      {
        "horizon": "Full cycle",
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        "worst_return": -0.160141,
        "sufficient": false
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    ],
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      },
      {
        "regime": "balance",
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        "regime": "rotation_down",
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        "regime": "downward_expansion",
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      },
      {
        "date": "2026-05-01",
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      {
        "date": "2026-05-08",
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        "date": "2026-05-15",
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      },
      {
        "date": "2026-05-22",
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      },
      {
        "date": "2026-05-29",
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      },
      {
        "date": "2026-06-05",
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        "relative_strength": 1.418613,
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      },
      {
        "date": "2026-06-12",
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      },
      {
        "date": "2026-06-26",
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        "relative_strength": 1.262921,
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      },
      {
        "date": "2026-07-03",
        "close": 138.059998,
        "volume": 28400,
        "typical_volume": 144601.35,
        "trend": 130.127667,
        "fair_value": 105.376845,
        "relative_strength": 2.460783,
        "stage": 2,
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        "modifier": "Re-accelerating",
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      },
      {
        "date": "2026-07-10",
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        "trend": 130.557667,
        "fair_value": 105.680338,
        "relative_strength": 2.460811,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 58.059195,
        "energy": 57.947989,
        "activity_lines": [
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      },
      {
        "date": "2026-07-17",
        "close": 135.649994,
        "volume": 100420,
        "typical_volume": 145227.2,
        "trend": 130.922,
        "fair_value": 105.984153,
        "relative_strength": 1.406274,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 57.709639,
        "energy": 53.072827,
        "activity_lines": [
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      },
      {
        "date": "2026-07-24",
        "close": 135.830002,
        "volume": 287651,
        "typical_volume": 150911.55,
        "trend": 131.265667,
        "fair_value": 106.286621,
        "relative_strength": 0.270441,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 56.51976,
        "energy": 51.736897,
        "activity_lines": [
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        ]
      },
      {
        "date": "2026-07-31",
        "close": 138.259995,
        "volume": 280199,
        "typical_volume": 148565.35,
        "trend": 131.656334,
        "fair_value": 106.618544,
        "relative_strength": 0.748923,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 67.210794,
        "energy": 49.904129,
        "activity_lines": [
          136.737998,
          136.110545,
          134.524952,
          133.064086
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      },
      {
        "date": "2026-08-07",
        "close": 141.279999,
        "volume": 29726,
        "typical_volume": 126199.1,
        "trend": 132.09,
        "fair_value": 106.972967,
        "relative_strength": 2.587222,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 81.016714,
        "energy": 73.435559,
        "activity_lines": [
          138.263331,
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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."
    }
  }
}