{
  "ticker": {
    "uuid": "d5f1a94a-ec12-40fe-acaf-859bcabbb13d",
    "symbol": "UCAP",
    "name": "Ossiam Shiller Barclays Cape US Sector Value TR 1C (USD)",
    "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": 3,
    "stage_name": "Distribution",
    "phase": "3a",
    "phase_label": "Stage 3A \u00b7 Churning",
    "transition": "stage_3_churning",
    "transition_label": "Stage 3 range intact",
    "confidence": 55.079,
    "architecture_regime": "upward_expansion",
    "architecture_regime_label": "Upward Expansion",
    "architecture_modifier": "Early expansion",
    "architecture_gate": "up",
    "architecture_direction": 86.684,
    "architecture_energy": 88.01,
    "architecture_maturity": 10.221,
    "architecture_confidence": 65.784,
    "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": 12.16,
        "rotation_up": 85.67,
        "upward_expansion": 97.43,
        "deceleration": 39.05,
        "rotation_down": 8.75,
        "downward_expansion": 19.43
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      "activity_lines": [
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      "activity_state": "Wide",
      "activity_direction": "Expanding",
      "rotation_direction": "Improving",
      "price_acceptance": 1.0
    },
    "latest_close": 1739.300049,
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    "distance_from_trend": 0.05276,
    "trend_direction": "Improving",
    "fair_value": 1473.324646,
    "distance_from_fair_value": 0.180527,
    "fair_value_direction": "Improving",
    "relative_strength": -1.893086,
    "relative_strength_direction": "Improving",
    "price_momentum": 0.041871,
    "excess_performance": -0.009364,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.05276,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.013345,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.180527,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.025451,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.018931,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.009187,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.041871,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 1.64614,
        "read": "Demand-led"
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    ],
    "volume": {
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      "relative_activity": 1.075544,
      "balance": 1.64614,
      "dry_up": 1.12573,
      "accumulation_observations": 3,
      "distribution_observations": 2
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    "risk": {
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      "annualized_volatility": 0.118633,
      "from_high_reference": -0.002581,
      "from_low_reference": 0.128243
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    "levels": {
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      "fair_value_reference": 1473.324646,
      "structural_low": 1541.599976,
      "invalidation": "A decisive breakout above range resistance with renewed RS leadership invalidates the distribution reading; a range-low break confirms deterioration."
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    "outcomes": [
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        "horizon": "Intermediate",
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        "horizon": "Full cycle",
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        "date": "2026-03-27",
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        "date": "2026-04-10",
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      },
      {
        "date": "2026-07-17",
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        "trend": 1644.520003,
        "fair_value": 1464.084262,
        "relative_strength": -1.561122,
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      },
      {
        "date": "2026-07-24",
        "close": 1691.699951,
        "volume": 7980,
        "typical_volume": 3962.85,
        "trend": 1646.456669,
        "fair_value": 1466.941762,
        "relative_strength": -3.401584,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 66.595199,
        "energy": 76.076515,
        "activity_lines": [
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          1653.438561,
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      },
      {
        "date": "2026-07-31",
        "close": 1704.199951,
        "volume": 1747,
        "typical_volume": 3945.65,
        "trend": 1649.336666,
        "fair_value": 1469.970159,
        "relative_strength": -3.72844,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 73.301748,
        "energy": 79.511871,
        "activity_lines": [
          1695.893294,
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          1659.746176,
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      },
      {
        "date": "2026-08-07",
        "close": 1739.300049,
        "volume": 3654,
        "typical_volume": 3397.35,
        "trend": 1652.133333,
        "fair_value": 1473.324646,
        "relative_strength": -1.893086,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 86.684103,
        "energy": 88.009972,
        "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."
    }
  }
}