{
  "ticker": {
    "uuid": "e4509462-69d9-457a-9051-6424d8d93af1",
    "symbol": "WATT",
    "name": "WisdomTree Battery Metals ETC",
    "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": 65.899,
    "architecture_regime": "deceleration",
    "architecture_regime_label": "Deceleration",
    "architecture_modifier": "Recompressing",
    "architecture_gate": "up",
    "architecture_direction": 28.405,
    "architecture_energy": 15.99,
    "architecture_maturity": 30.894,
    "architecture_confidence": 75.773,
    "architecture_tenure": "Developing",
    "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": 48.7,
        "rotation_up": 34.76,
        "upward_expansion": 54.0,
        "deceleration": 69.78,
        "rotation_down": 21.35,
        "downward_expansion": 22.33
      },
      "activity_lines": [
        21.182,
        21.089546,
        21.339274,
        21.213344
      ],
      "activity_state": "Compressed",
      "activity_direction": "Contracting",
      "rotation_direction": "Improving",
      "price_acceptance": -0.166667
    },
    "latest_close": 21.4825,
    "trend_reference": 21.010833,
    "distance_from_trend": 0.022449,
    "trend_direction": "Improving",
    "fair_value": 18.045138,
    "distance_from_fair_value": 0.190487,
    "fair_value_direction": "Weakening",
    "relative_strength": 0.232949,
    "relative_strength_direction": "Weakening",
    "price_momentum": 0.06918,
    "excess_performance": 0.017945,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.022449,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.039506,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.190487,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.040689,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.002329,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.097992,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.06918,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 23.961538,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 3,
      "relative_activity": 0.026786,
      "balance": 23.961538,
      "dry_up": 0.941964,
      "accumulation_observations": 3,
      "distribution_observations": 0
    },
    "risk": {
      "range_context": 0.023812,
      "annualized_volatility": 0.139399,
      "from_high_reference": -0.053427,
      "from_low_reference": 0.272095
    },
    "levels": {
      "trend_reference": 21.010833,
      "fair_value_reference": 18.045138,
      "structural_low": 19.41,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 4,
        "median_return": 0.009995,
        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
        "median_excess_return": -0.008404,
        "regime_survival": 0.5,
        "best_return": 0.051899,
        "worst_return": -0.051637,
        "sufficient": false
      },
      {
        "horizon": "Intermediate",
        "sample_count": 2,
        "median_return": -0.015526,
        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
        "median_excess_return": -0.026686,
        "regime_survival": 0.5,
        "best_return": 0.002809,
        "worst_return": -0.03386,
        "sufficient": false
      },
      {
        "horizon": "Extended",
        "sample_count": 1,
        "median_return": -0.059255,
        "positive_rate": 0.0,
        "directional_follow_through": 0.0,
        "median_excess_return": -0.04067,
        "regime_survival": 0.0,
        "best_return": -0.059255,
        "worst_return": -0.059255,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
        "sample_count": 1,
        "median_return": -0.045006,
        "positive_rate": 0.0,
        "directional_follow_through": 0.0,
        "median_excess_return": -0.110194,
        "regime_survival": 0.0,
        "best_return": -0.045006,
        "worst_return": -0.045006,
        "sufficient": false
      }
    ],
    "ledger": [
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        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2024-11-08",
        "end": "2024-12-20",
        "tenure": "Developing",
        "return": -0.038223,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2024-12-27",
        "end": "2025-01-24",
        "tenure": "Developing",
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      },
      {
        "regime": "balance",
        "label": "Balance",
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        "return": 0.067367,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
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        "end": "2025-03-21",
        "tenure": "New",
        "return": -0.010763,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
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        "end": "2025-03-28",
        "tenure": "New",
        "return": 0.0,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
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        "end": "2025-04-18",
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        "return": 0.010089,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
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        "return": 0.002669,
        "active": false
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      {
        "regime": "balance",
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        "return": 0.048013,
        "active": false
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      {
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        "active": true
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        ]
      },
      {
        "date": "2026-05-15",
        "close": 21.987499,
        "volume": 270,
        "typical_volume": 225.05,
        "trend": 19.949633,
        "fair_value": 17.782365,
        "relative_strength": 10.8294,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 74.960862,
        "energy": 86.066262,
        "activity_lines": [
          21.810999,
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        ]
      },
      {
        "date": "2026-05-22",
        "close": 22.327499,
        "volume": 11,
        "typical_volume": 220.1,
        "trend": 20.079583,
        "fair_value": 17.811612,
        "relative_strength": 9.426129,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 80.160517,
        "energy": 85.23807,
        "activity_lines": [
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        ]
      },
      {
        "date": "2026-05-29",
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        "volume": 525,
        "typical_volume": 218.25,
        "trend": 20.212333,
        "fair_value": 17.840378,
        "relative_strength": 10.24898,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
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        "direction": 77.899627,
        "energy": 82.830423,
        "activity_lines": [
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        ]
      },
      {
        "date": "2026-06-05",
        "close": 22.02,
        "volume": 37,
        "typical_volume": 210.95,
        "trend": 20.336916,
        "fair_value": 17.865987,
        "relative_strength": 8.444377,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 66.281926,
        "energy": 65.875483,
        "activity_lines": [
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        ]
      },
      {
        "date": "2026-06-12",
        "close": 21.907499,
        "volume": 0,
        "typical_volume": 190.25,
        "trend": 20.455833,
        "fair_value": 17.88626,
        "relative_strength": 6.63263,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 64.10281,
        "energy": 58.610135,
        "activity_lines": [
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      },
      {
        "date": "2026-06-19",
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        "volume": 0,
        "typical_volume": 174.95,
        "trend": 20.573666,
        "fair_value": 17.910234,
        "relative_strength": 5.592614,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 50.356228,
        "energy": 45.323995,
        "activity_lines": [
          21.891833,
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        ]
      },
      {
        "date": "2026-06-26",
        "close": 20.615,
        "volume": 0,
        "typical_volume": 151.4,
        "trend": 20.648166,
        "fair_value": 17.929817,
        "relative_strength": -0.123584,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 13.350162,
        "energy": 19.501292,
        "activity_lines": [
          21.417833,
          21.703045,
          21.4535,
          21.150553
        ]
      },
      {
        "date": "2026-07-03",
        "close": 20.530001,
        "volume": 0,
        "typical_volume": 116.2,
        "trend": 20.710916,
        "fair_value": 17.948022,
        "relative_strength": -2.081013,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": -3.242056,
        "energy": 26.262518,
        "activity_lines": [
          21.029667,
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          21.14293
        ]
      },
      {
        "date": "2026-07-10",
        "close": 20.85,
        "volume": 33,
        "typical_volume": 103.95,
        "trend": 20.791416,
        "fair_value": 17.963503,
        "relative_strength": 1.163898,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": -2.796451,
        "energy": 30.586983,
        "activity_lines": [
          20.874834,
          21.323182,
          21.368631,
          21.151903
        ]
      },
      {
        "date": "2026-07-17",
        "close": 20.785,
        "volume": 15,
        "typical_volume": 101.6,
        "trend": 20.860833,
        "fair_value": 17.982349,
        "relative_strength": -0.108296,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "mixed",
        "direction": -23.490529,
        "energy": 40.945268,
        "activity_lines": [
          20.776334,
          21.174455,
          21.331036,
          21.151489
        ]
      },
      {
        "date": "2026-07-24",
        "close": 21.032499,
        "volume": 303,
        "typical_volume": 115.6,
        "trend": 20.922333,
        "fair_value": 17.998968,
        "relative_strength": -0.17024,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Momentum cooling",
        "gate": "mixed",
        "direction": -21.186476,
        "energy": 33.864463,
        "activity_lines": [
          20.835166,
          21.090318,
          21.31619,
          21.162564
        ]
      },
      {
        "date": "2026-07-31",
        "close": 21.200001,
        "volume": 101,
        "typical_volume": 113.2,
        "trend": 20.973083,
        "fair_value": 18.019192,
        "relative_strength": -0.694588,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 2.69208,
        "energy": 14.659211,
        "activity_lines": [
          20.981,
          21.054,
          21.315762,
          21.180478
        ]
      },
      {
        "date": "2026-08-07",
        "close": 21.4825,
        "volume": 3,
        "typical_volume": 112.0,
        "trend": 21.010833,
        "fair_value": 18.045138,
        "relative_strength": 0.232949,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 28.404657,
        "energy": 15.99047,
        "activity_lines": [
          21.182,
          21.089546,
          21.339274,
          21.213344
        ]
      }
    ],
    "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."
    }
  }
}