{
  "ticker": {
    "uuid": "dde367de-7433-4171-a01e-cc9d2e30f387",
    "symbol": "XX2D",
    "name": "Xtrackers MSCI China A 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": 3,
    "stage_name": "Distribution",
    "phase": "3a",
    "phase_label": "Stage 3A \u00b7 Churning",
    "transition": "stage_3_churning",
    "transition_label": "Stage 3 range intact",
    "confidence": 64.885,
    "architecture_regime": "deceleration",
    "architecture_regime_label": "Deceleration",
    "architecture_modifier": "Recompressing",
    "architecture_gate": "mixed",
    "architecture_direction": -13.58,
    "architecture_energy": 26.86,
    "architecture_maturity": 45.361,
    "architecture_confidence": 60.788,
    "architecture_tenure": "New",
    "architecture": {
      "interpretation": {
        "headline": "The upward structure remains, but its energy is decelerating.",
        "body": "Trend remains positive, but Activity or price acceptance is losing strength. This can become a healthy recompression, a re-acceleration, or a Rotation Down."
      },
      "scores": {
        "balance": 48.54,
        "rotation_up": 17.01,
        "upward_expansion": 17.78,
        "deceleration": 68.23,
        "rotation_down": 60.0,
        "downward_expansion": 40.45
      },
      "activity_lines": [
        40.762666,
        41.270181,
        41.594381,
        41.327742
      ],
      "activity_state": "Moderate",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": -0.333333
    },
    "latest_close": 41.744999,
    "trend_reference": 40.991,
    "distance_from_trend": 0.018394,
    "trend_direction": "Improving",
    "fair_value": 31.842258,
    "distance_from_fair_value": 0.310994,
    "fair_value_direction": "Weakening",
    "relative_strength": -2.873265,
    "relative_strength_direction": "Weakening",
    "price_momentum": 0.03895,
    "excess_performance": -0.012286,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.018394,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.025797,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.310994,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.081979,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.028733,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.111683,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.03895,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 2.236531,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 4894,
      "relative_activity": 0.986594,
      "balance": 2.236531,
      "dry_up": 0.996271,
      "accumulation_observations": 2,
      "distribution_observations": 2
    },
    "risk": {
      "range_context": 0.03151,
      "annualized_volatility": 0.172486,
      "from_high_reference": -0.047787,
      "from_low_reference": 0.232871
    },
    "levels": {
      "trend_reference": 40.991,
      "fair_value_reference": 31.842258,
      "structural_low": 37.709999,
      "invalidation": "A decisive breakout above range resistance with renewed RS leadership invalidates the distribution reading; a range-low break confirms deterioration."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 16,
        "median_return": 0.007743,
        "positive_rate": 0.5625,
        "directional_follow_through": 0.5625,
        "median_excess_return": 0.00038,
        "regime_survival": 0.625,
        "best_return": 0.292183,
        "worst_return": -0.068861,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 8,
        "median_return": 0.036194,
        "positive_rate": 0.625,
        "directional_follow_through": 0.625,
        "median_excess_return": 0.004708,
        "regime_survival": 0.375,
        "best_return": 0.124238,
        "worst_return": -0.068147,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 5,
        "median_return": 0.091626,
        "positive_rate": 0.8,
        "directional_follow_through": 0.8,
        "median_excess_return": 0.019101,
        "regime_survival": 0.4,
        "best_return": 0.214581,
        "worst_return": -0.04731,
        "sufficient": true
      },
      {
        "horizon": "Full cycle",
        "sample_count": 3,
        "median_return": 0.245514,
        "positive_rate": 0.666667,
        "directional_follow_through": 0.666667,
        "median_excess_return": 0.056815,
        "regime_survival": 0.333333,
        "best_return": 0.311156,
        "worst_return": -0.26234,
        "sufficient": false
      }
    ],
    "ledger": [
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2024-05-17",
        "end": "2024-06-14",
        "tenure": "Developing",
        "return": -0.109329,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2024-06-21",
        "end": "2024-09-27",
        "tenure": "Established",
        "return": 0.20789,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2024-10-04",
        "end": "2024-11-08",
        "tenure": "Developing",
        "return": -0.10485,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2024-11-15",
        "end": "2025-03-21",
        "tenure": "Established",
        "return": 0.010647,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-03-28",
        "end": "2025-04-11",
        "tenure": "New",
        "return": -0.04336,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2025-04-18",
        "end": "2025-05-09",
        "tenure": "New",
        "return": 0.036765,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-05-16",
        "end": "2025-07-04",
        "tenure": "Developing",
        "return": 0.033487,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-07-11",
        "end": "2025-11-28",
        "tenure": "Established",
        "return": 0.159889,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2025-12-05",
        "end": "2025-12-19",
        "tenure": "New",
        "return": 0.009596,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-12-26",
        "end": "2026-03-20",
        "tenure": "Established",
        "return": -0.003855,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2026-03-27",
        "end": "2026-04-24",
        "tenure": "Developing",
        "return": 0.081208,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2026-05-01",
        "end": "2026-07-10",
        "tenure": "Developing",
        "return": -0.004618,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2026-07-17",
        "end": "2026-07-24",
        "tenure": "New",
        "return": 0.020346,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2026-07-31",
        "end": "2026-08-07",
        "tenure": "New",
        "return": 0.040763,
        "active": true
      }
    ],
    "chart_path": [
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        "date": "2023-08-18",
        "close": 26.209999,
        "volume": 6000,
        "typical_volume": 2704.4,
        "trend": 28.302167,
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        "stage": 1,
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        "modifier": "Balance after decline",
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        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 78.816821,
        "energy": 78.634449,
        "activity_lines": [
          41.323667,
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          40.28312,
          39.913074
        ]
      },
      {
        "date": "2026-05-08",
        "close": 42.735001,
        "volume": 2906,
        "typical_volume": 4463.45,
        "trend": 39.53466,
        "fair_value": 30.678989,
        "relative_strength": 8.295051,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
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        "direction": 80.978933,
        "energy": 87.4542,
        "activity_lines": [
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      },
      {
        "date": "2026-05-15",
        "close": 42.305,
        "volume": 4913,
        "typical_volume": 4673.15,
        "trend": 39.69566,
        "fair_value": 30.772707,
        "relative_strength": 7.313339,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
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        "direction": 69.328525,
        "energy": 82.187436,
        "activity_lines": [
          42.219334,
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          40.729524,
          40.310591
        ]
      },
      {
        "date": "2026-05-22",
        "close": 42.014999,
        "volume": 1361,
        "typical_volume": 4437.9,
        "trend": 39.8125,
        "fair_value": 30.872002,
        "relative_strength": 3.608625,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 65.365929,
        "energy": 76.619727,
        "activity_lines": [
          42.22,
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          40.87812,
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      },
      {
        "date": "2026-05-29",
        "close": 42.799999,
        "volume": 1422,
        "typical_volume": 4478.1,
        "trend": 39.960167,
        "fair_value": 30.971489,
        "relative_strength": 5.815567,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 72.017576,
        "energy": 64.889005,
        "activity_lines": [
          42.445,
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          41.089715,
          40.652968
        ]
      },
      {
        "date": "2026-06-05",
        "close": 41.52,
        "volume": 3,
        "typical_volume": 4459.55,
        "trend": 40.058667,
        "fair_value": 31.059149,
        "relative_strength": 2.824425,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 60.080846,
        "energy": 46.112555,
        "activity_lines": [
          42.146,
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          40.753602
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      },
      {
        "date": "2026-06-12",
        "close": 41.875,
        "volume": 0,
        "typical_volume": 4311.75,
        "trend": 40.1745,
        "fair_value": 31.142451,
        "relative_strength": 2.449408,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 47.452629,
        "energy": 36.701987,
        "activity_lines": [
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      },
      {
        "date": "2026-06-19",
        "close": 43.330002,
        "volume": 43395,
        "typical_volume": 6446.4,
        "trend": 40.393333,
        "fair_value": 31.249053,
        "relative_strength": 6.791641,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 76.167857,
        "energy": 51.256471,
        "activity_lines": [
          42.421667,
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      },
      {
        "date": "2026-06-26",
        "close": 42.889999,
        "volume": 2,
        "typical_volume": 6289.5,
        "trend": 40.563167,
        "fair_value": 31.350271,
        "relative_strength": 4.011821,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 64.417374,
        "energy": 46.694083,
        "activity_lines": [
          42.615667,
          42.447455,
          41.694929,
          41.235441
        ]
      },
      {
        "date": "2026-07-03",
        "close": 42.494999,
        "volume": 0,
        "typical_volume": 6278.6,
        "trend": 40.711833,
        "fair_value": 31.449758,
        "relative_strength": 1.251668,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 58.947611,
        "energy": 48.378191,
        "activity_lines": [
          42.619666,
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          41.825738,
          41.360075
        ]
      },
      {
        "date": "2026-07-10",
        "close": 42.035,
        "volume": 9156,
        "typical_volume": 5986.3,
        "trend": 40.845334,
        "fair_value": 31.538797,
        "relative_strength": 1.710113,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 56.444749,
        "energy": 44.460932,
        "activity_lines": [
          42.490666,
          42.412273,
          41.902048,
          41.445441
        ]
      },
      {
        "date": "2026-07-17",
        "close": 39.564999,
        "volume": 5391,
        "typical_volume": 6164.55,
        "trend": 40.884167,
        "fair_value": 31.615816,
        "relative_strength": -5.219025,
        "stage": 2,
        "regime": "rotation_down",
        "modifier": "Structural failure",
        "gate": "up",
        "direction": 1.933339,
        "energy": 10.702729,
        "activity_lines": [
          41.503999,
          41.896818,
          41.736381,
          41.362839
        ]
      },
      {
        "date": "2026-07-24",
        "close": 40.369999,
        "volume": 5585,
        "typical_volume": 5570.3,
        "trend": 40.933,
        "fair_value": 31.683412,
        "relative_strength": -4.541899,
        "stage": 3,
        "regime": "rotation_down",
        "modifier": "Supply rotation",
        "gate": "up",
        "direction": -3.268688,
        "energy": 20.49645,
        "activity_lines": [
          40.939666,
          41.585363,
          41.654928,
          41.329667
        ]
      },
      {
        "date": "2026-07-31",
        "close": 40.110001,
        "volume": 3898,
        "typical_volume": 5495.7,
        "trend": 40.951833,
        "fair_value": 31.752867,
        "relative_strength": -6.33667,
        "stage": 3,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "mixed",
        "direction": -26.062796,
        "energy": 35.107073,
        "activity_lines": [
          40.486,
          41.261818,
          41.546452,
          41.27657
        ]
      },
      {
        "date": "2026-08-07",
        "close": 41.744999,
        "volume": 4894,
        "typical_volume": 4960.5,
        "trend": 40.991,
        "fair_value": 31.842258,
        "relative_strength": -2.873265,
        "stage": 3,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "mixed",
        "direction": -13.579886,
        "energy": 26.860487,
        "activity_lines": [
          40.762666,
          41.270181,
          41.594381,
          41.327742
        ]
      }
    ],
    "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."
    }
  }
}