{
  "ticker": {
    "uuid": "c7b550bc-2fab-44ac-b576-ebe0f1db2cd8",
    "symbol": "SVS",
    "name": "Savills plc",
    "exchange": "LSE",
    "country": "GB",
    "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": "^FTSE",
    "stage": 1,
    "stage_name": "Basing",
    "phase": "1c",
    "phase_label": "Stage 1C \u00b7 Breakout watch",
    "transition": "stage_1_to_2_watch",
    "transition_label": "Stage 1 \u2192 2 watch",
    "confidence": 96.0,
    "architecture_regime": "rotation_up",
    "architecture_regime_label": "Rotation Up",
    "architecture_modifier": "Emerging rotation",
    "architecture_gate": "mixed",
    "architecture_direction": 47.716,
    "architecture_energy": 65.087,
    "architecture_maturity": 11.716,
    "architecture_confidence": 74.07,
    "architecture_tenure": "New",
    "architecture": {
      "interpretation": {
        "headline": "The Activity Line structure is rotating upward.",
        "body": "Fast Activity is improving relative to Slow Activity and price acceptance is strengthening. This is earlier than full positive Trend confirmation and remains a developing repair."
      },
      "scores": {
        "balance": 9.54,
        "rotation_up": 78.48,
        "upward_expansion": 59.66,
        "deceleration": 12.66,
        "rotation_down": 14.45,
        "downward_expansion": 27.66
      },
      "activity_lines": [
        938.0,
        913.818182,
        882.65346,
        884.708858
      ],
      "activity_state": "Wide",
      "activity_direction": "Expanding",
      "rotation_direction": "Improving",
      "price_acceptance": 1.0
    },
    "latest_close": 976.0,
    "trend_reference": 910.912732,
    "distance_from_trend": 0.071453,
    "trend_direction": "Weakening",
    "fair_value": 989.992745,
    "distance_from_fair_value": -0.014134,
    "fair_value_direction": "Improving",
    "relative_strength": -4.180751,
    "relative_strength_direction": "Improving",
    "price_momentum": -0.080696,
    "excess_performance": -0.131931,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.071453,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": false,
        "value": -0.034584,
        "read": "Falling"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": false,
        "value": -0.014134,
        "read": "Below anchor"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.118065,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.041808,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.116893,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": false,
        "value": -0.080696,
        "read": "Negative"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 1.951842,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 1548969,
      "relative_activity": 0.664354,
      "balance": 1.951842,
      "dry_up": 0.774217,
      "accumulation_observations": 2,
      "distribution_observations": 1
    },
    "risk": {
      "range_context": 0.045231,
      "annualized_volatility": 0.295635,
      "from_high_reference": -0.132948,
      "from_low_reference": 0.233544
    },
    "levels": {
      "trend_reference": 910.912732,
      "fair_value_reference": 989.992745,
      "structural_low": 791.215948,
      "invalidation": "A renewed decline below the structural range low, widening the discount to current Fair Value while Trend falls, weakens the base diagnosis."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 3,
        "median_return": -0.008098,
        "positive_rate": 0.333333,
        "directional_follow_through": 0.333333,
        "median_excess_return": -0.007221,
        "regime_survival": 0.333333,
        "best_return": 0.040248,
        "worst_return": -0.058794,
        "sufficient": false
      },
      {
        "horizon": "Intermediate",
        "sample_count": 2,
        "median_return": 0.011901,
        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
        "median_excess_return": 0.005828,
        "regime_survival": 0.0,
        "best_return": 0.100103,
        "worst_return": -0.076301,
        "sufficient": false
      },
      {
        "horizon": "Extended",
        "sample_count": 2,
        "median_return": 0.023164,
        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
        "median_excess_return": 0.018031,
        "regime_survival": 0.0,
        "best_return": 0.149811,
        "worst_return": -0.103483,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
        "sample_count": 1,
        "median_return": -0.055967,
        "positive_rate": 0.0,
        "directional_follow_through": 0.0,
        "median_excess_return": -0.016652,
        "regime_survival": 0.0,
        "best_return": -0.055967,
        "worst_return": -0.055967,
        "sufficient": false
      }
    ],
    "ledger": [
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2024-07-19",
        "end": "2024-08-30",
        "tenure": "Developing",
        "return": -0.057729,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2024-09-06",
        "end": "2024-10-25",
        "tenure": "Developing",
        "return": -0.053633,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2024-11-01",
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        "tenure": "New",
        "return": -0.024163,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2024-11-22",
        "end": "2025-05-30",
        "tenure": "Extended",
        "return": -0.073902,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-06-06",
        "end": "2025-08-29",
        "tenure": "Established",
        "return": -0.052008,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2025-09-05",
        "end": "2025-09-26",
        "tenure": "New",
        "return": 0.047305,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
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        "end": "2025-10-24",
        "tenure": "New",
        "return": 0.046843,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
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        "end": "2025-11-14",
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        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
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        "tenure": "Developing",
        "return": 0.088421,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
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        "return": -0.175503,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
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        "tenure": "New",
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        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
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      {
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      {
        "regime": "rotation_up",
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        "active": true
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    ],
    "chart_path": [
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      {
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      },
      {
        "date": "2026-07-24",
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        "fair_value": 990.06464,
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        "stage": 4,
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      },
      {
        "date": "2026-07-31",
        "close": 920.0,
        "volume": 2565210,
        "typical_volume": 2652318.5,
        "trend": 912.835437,
        "fair_value": 989.545003,
        "relative_strength": -9.747939,
        "stage": 4,
        "regime": "rotation_up",
        "modifier": "Emerging rotation",
        "gate": "mixed",
        "direction": 27.932896,
        "energy": 50.298682,
        "activity_lines": [
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      },
      {
        "date": "2026-08-07",
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        "volume": 1548969,
        "typical_volume": 2331540.65,
        "trend": 910.912732,
        "fair_value": 989.992745,
        "relative_strength": -4.180751,
        "stage": 1,
        "regime": "rotation_up",
        "modifier": "Emerging rotation",
        "gate": "mixed",
        "direction": 47.716438,
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        "activity_lines": [
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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."
    }
  }
}