{
  "ticker": {
    "uuid": "e48fe79f-6ef2-4525-887a-3987844d56ad",
    "symbol": "S5EG",
    "name": "UBS S&P 500 ESG Elite UCITS ETF hGBP dis",
    "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": "deceleration",
    "architecture_regime_label": "Deceleration",
    "architecture_modifier": "Recompressing",
    "architecture_gate": "up",
    "architecture_direction": 66.566,
    "architecture_energy": 54.77,
    "architecture_maturity": 67.106,
    "architecture_confidence": 85.347,
    "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": 22.0,
        "rotation_up": 42.67,
        "upward_expansion": 70.08,
        "deceleration": 88.33,
        "rotation_down": 27.94,
        "downward_expansion": 22.41
      },
      "activity_lines": [
        2273.8,
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        2230.881904,
        2153.91356
      ],
      "activity_state": "Wide",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": 0.333333
    },
    "latest_close": 2328.5,
    "trend_reference": 2067.347738,
    "distance_from_trend": 0.126322,
    "trend_direction": "Improving",
    "fair_value": 1672.000464,
    "distance_from_fair_value": 0.392643,
    "fair_value_direction": "Improving",
    "relative_strength": 9.403201,
    "relative_strength_direction": "Weakening",
    "price_momentum": 0.202166,
    "excess_performance": 0.15093,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.126322,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.068696,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.392643,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.061448,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.094032,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.003198,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.202166,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 1.578503,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 13013,
      "relative_activity": 0.359118,
      "balance": 1.578503,
      "dry_up": 0.84247,
      "accumulation_observations": 2,
      "distribution_observations": 1
    },
    "risk": {
      "range_context": 0.024924,
      "annualized_volatility": 0.15761,
      "from_high_reference": -0.002004,
      "from_low_reference": 0.368844
    },
    "levels": {
      "trend_reference": 2067.347738,
      "fair_value_reference": 1672.000464,
      "structural_low": 1753.050049,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 7,
        "median_return": 0.00814,
        "positive_rate": 0.571429,
        "directional_follow_through": 0.571429,
        "median_excess_return": 0.003387,
        "regime_survival": 0.428571,
        "best_return": 0.045293,
        "worst_return": -0.078171,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 4,
        "median_return": 0.068074,
        "positive_rate": 1.0,
        "directional_follow_through": 1.0,
        "median_excess_return": 0.071115,
        "regime_survival": 0.0,
        "best_return": 0.175558,
        "worst_return": 0.004867,
        "sufficient": false
      },
      {
        "horizon": "Extended",
        "sample_count": 3,
        "median_return": 0.154826,
        "positive_rate": 1.0,
        "directional_follow_through": 1.0,
        "median_excess_return": 0.155637,
        "regime_survival": 0.333333,
        "best_return": 0.179908,
        "worst_return": 0.095934,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
        "sample_count": 2,
        "median_return": 0.176501,
        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
        "median_excess_return": 0.165302,
        "regime_survival": 0.0,
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        "worst_return": -0.009586,
        "sufficient": false
      }
    ],
    "ledger": [
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        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
        "start": "2023-12-01",
        "end": "2023-12-08",
        "tenure": "New",
        "return": 0.0028,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2023-12-15",
        "end": "2024-04-19",
        "tenure": "Established",
        "return": 0.068749,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2024-04-26",
        "end": "2024-05-24",
        "tenure": "Developing",
        "return": 0.022457,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2024-05-31",
        "end": "2025-02-28",
        "tenure": "Extended",
        "return": 0.07988,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-03-07",
        "end": "2025-03-14",
        "tenure": "New",
        "return": -0.017265,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2025-03-21",
        "end": "2025-03-28",
        "tenure": "New",
        "return": -0.009959,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2025-04-04",
        "end": "2025-06-06",
        "tenure": "Developing",
        "return": 0.134427,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
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        "tenure": "Developing",
        "return": 0.03668,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
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        "end": "2026-02-20",
        "tenure": "Extended",
        "return": 0.110715,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
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        "end": "2026-03-20",
        "tenure": "New",
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        "active": false
      },
      {
        "regime": "rotation_down",
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        "active": false
      },
      {
        "regime": "rotation_up",
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        "active": false
      },
      {
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        "active": false
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      {
        "regime": "deceleration",
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        "end": "2026-08-07",
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        "active": true
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      },
      {
        "date": "2026-07-24",
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      },
      {
        "date": "2026-07-31",
        "close": 2235.5,
        "volume": 29061,
        "typical_volume": 35727.15,
        "trend": 2055.108407,
        "fair_value": 1665.321411,
        "relative_strength": 5.627245,
        "stage": 2,
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        "activity_lines": [
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      },
      {
        "date": "2026-08-07",
        "close": 2328.5,
        "volume": 13013,
        "typical_volume": 36236.0,
        "trend": 2067.347738,
        "fair_value": 1672.000464,
        "relative_strength": 9.403201,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
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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."
    }
  }
}