{
  "ticker": {
    "uuid": "d26290cf-2828-47ea-9e9f-39ebdc004c10",
    "symbol": "XDPG",
    "name": "Xtrackers S&P 500 UCITS ETF 2C - GBP Hedged",
    "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": 84.044,
    "architecture_energy": 60.159,
    "architecture_maturity": 58.873,
    "architecture_confidence": 72.516,
    "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": 31.87,
        "rotation_up": 53.33,
        "upward_expansion": 80.1,
        "deceleration": 67.96,
        "rotation_down": 27.3,
        "downward_expansion": 9.1
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      "activity_lines": [
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      "activity_state": "Moderate",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": 0.5
    },
    "latest_close": 12977.0,
    "trend_reference": 11953.883333,
    "distance_from_trend": 0.085589,
    "trend_direction": "Improving",
    "fair_value": 9822.36141,
    "distance_from_fair_value": 0.321169,
    "fair_value_direction": "Improving",
    "relative_strength": 2.964118,
    "relative_strength_direction": "Weakening",
    "price_momentum": 0.125206,
    "excess_performance": 0.073971,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.085589,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.033675,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.321169,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.005436,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.029641,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.023177,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.125206,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 1.870431,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 23724,
      "relative_activity": 0.72617,
      "balance": 1.870431,
      "dry_up": 0.844061,
      "accumulation_observations": 3,
      "distribution_observations": 1
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    "risk": {
      "range_context": 0.019299,
      "annualized_volatility": 0.128624,
      "from_high_reference": -0.004373,
      "from_low_reference": 0.226096
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    "levels": {
      "trend_reference": 11953.883333,
      "fair_value_reference": 9822.36141,
      "structural_low": 10662.349609,
      "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": 38,
        "median_return": 0.015168,
        "positive_rate": 0.736842,
        "directional_follow_through": 0.736842,
        "median_excess_return": 0.007495,
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        "worst_return": -0.084929,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
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      },
      {
        "horizon": "Extended",
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        "worst_return": -0.163243,
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      {
        "horizon": "Full cycle",
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        "regime": "deceleration",
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        "regime": "balance",
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        "regime": "downward_expansion",
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      },
      {
        "date": "2026-04-03",
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      },
      {
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      },
      {
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      },
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      },
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      },
      {
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      },
      {
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      },
      {
        "date": "2026-06-05",
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      },
      {
        "date": "2026-06-12",
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      },
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      },
      {
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      },
      {
        "date": "2026-07-03",
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      {
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      },
      {
        "date": "2026-07-17",
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        "volume": 49202,
        "typical_volume": 38192.85,
        "trend": 11844.916667,
        "fair_value": 9722.74923,
        "relative_strength": 1.983554,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
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        "energy": 55.112308,
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          12080.131183
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      },
      {
        "date": "2026-07-24",
        "close": 12459.0,
        "volume": 23876,
        "typical_volume": 36629.55,
        "trend": 11875.416667,
        "fair_value": 9754.223589,
        "relative_strength": 0.405182,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 60.476195,
        "energy": 52.464059,
        "activity_lines": [
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      },
      {
        "date": "2026-07-31",
        "close": 12438.0,
        "volume": 13500,
        "typical_volume": 34406.05,
        "trend": 11908.783333,
        "fair_value": 9786.185127,
        "relative_strength": -0.977569,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 47.878071,
        "energy": 43.013798,
        "activity_lines": [
          12488.866667,
          12490.890909,
          12382.82381,
          12156.045161
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      },
      {
        "date": "2026-08-07",
        "close": 12977.0,
        "volume": 23724,
        "typical_volume": 32670.05,
        "trend": 11953.883333,
        "fair_value": 9822.36141,
        "relative_strength": 2.964118,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 84.043787,
        "energy": 60.158703,
        "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."
    }
  }
}