{
  "ticker": {
    "uuid": "e56ae3b1-c05f-4fc8-9faa-7f8c41a23f0c",
    "symbol": "XWHS",
    "name": "Xtrackers MSCI World Health Care 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": 1,
    "stage_name": "Basing",
    "phase": "1c",
    "phase_label": "Stage 1C \u00b7 Breakout watch",
    "transition": "stage_1_to_2_watch",
    "transition_label": "Stage 1 \u2192 2 watch",
    "confidence": 53.531,
    "architecture_regime": "upward_expansion",
    "architecture_regime_label": "Upward Expansion",
    "architecture_modifier": "Early expansion",
    "architecture_gate": "up",
    "architecture_direction": 66.571,
    "architecture_energy": 49.164,
    "architecture_maturity": 20.125,
    "architecture_confidence": 69.573,
    "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": 19.75,
        "rotation_up": 59.4,
        "upward_expansion": 80.15,
        "deceleration": 65.69,
        "rotation_down": 18.85,
        "downward_expansion": 6.82
      },
      "activity_lines": [
        45.206,
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        43.888536,
        43.487178
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      "activity_state": "Wide",
      "activity_direction": "Contracting",
      "rotation_direction": "Stable",
      "price_acceptance": 0.666667
    },
    "latest_close": 45.540001,
    "trend_reference": 43.2885,
    "distance_from_trend": 0.052012,
    "trend_direction": "Improving",
    "fair_value": 41.565077,
    "distance_from_fair_value": 0.095631,
    "fair_value_direction": "Improving",
    "relative_strength": -1.909067,
    "relative_strength_direction": "Improving",
    "price_momentum": 0.037594,
    "excess_performance": -0.013641,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.052012,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.007625,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.095631,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.137517,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.019091,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.062259,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.037594,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 1.607995,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 50619,
      "relative_activity": 1.380257,
      "balance": 1.607995,
      "dry_up": 1.633239,
      "accumulation_observations": 5,
      "distribution_observations": 2
    },
    "risk": {
      "range_context": 0.030202,
      "annualized_volatility": 0.156896,
      "from_high_reference": -0.178712,
      "from_low_reference": 0.229025
    },
    "levels": {
      "trend_reference": 43.2885,
      "fair_value_reference": 41.565077,
      "structural_low": 40.13559,
      "invalidation": "A renewed decline below the structural range low, widening the discount to current Fair Value while Trend falls, weakens the base diagnosis."
    },
    "outcomes": [
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        "horizon": "Near term",
        "sample_count": 23,
        "median_return": -0.008442,
        "positive_rate": 0.347826,
        "directional_follow_through": 0.347826,
        "median_excess_return": -0.001844,
        "regime_survival": 0.565217,
        "best_return": 0.070396,
        "worst_return": -0.196863,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 10,
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        "regime_survival": 0.2,
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        "worst_return": -0.21933,
        "sufficient": true
      },
      {
        "horizon": "Extended",
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      {
        "horizon": "Full cycle",
        "sample_count": 3,
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        "date": "2026-06-05",
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      {
        "date": "2026-06-12",
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      },
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        "date": "2026-06-19",
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        "stage": 1,
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      },
      {
        "date": "2026-06-26",
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        "relative_strength": 1.372252,
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        "modifier": "Balance after decline",
        "gate": "mixed",
        "direction": 47.181663,
        "energy": 55.699932,
        "activity_lines": [
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      },
      {
        "date": "2026-07-03",
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        "volume": 11423,
        "typical_volume": 45003.1,
        "trend": 43.04975,
        "fair_value": 41.703781,
        "relative_strength": 0.976424,
        "stage": 2,
        "regime": "rotation_up",
        "modifier": "Structural repair",
        "gate": "mixed",
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      },
      {
        "date": "2026-07-10",
        "close": 44.849998,
        "volume": 71341,
        "typical_volume": 42640.85,
        "trend": 43.09825,
        "fair_value": 41.679056,
        "relative_strength": 0.384621,
        "stage": 2,
        "regime": "rotation_up",
        "modifier": "Value reclamation",
        "gate": "mixed",
        "direction": 31.082279,
        "energy": 67.105545,
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      },
      {
        "date": "2026-07-17",
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        "volume": 61118,
        "typical_volume": 42663.6,
        "trend": 43.147417,
        "fair_value": 41.646061,
        "relative_strength": -0.276199,
        "stage": 1,
        "regime": "rotation_up",
        "modifier": "Value reclamation",
        "gate": "mixed",
        "direction": 38.227955,
        "energy": 70.09478,
        "activity_lines": [
          45.027333,
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          43.090511
        ]
      },
      {
        "date": "2026-07-24",
        "close": 45.369999,
        "volume": 44424,
        "typical_volume": 33218.05,
        "trend": 43.211084,
        "fair_value": 41.618033,
        "relative_strength": -0.72878,
        "stage": 1,
        "regime": "rotation_up",
        "modifier": "Value reclamation",
        "gate": "up",
        "direction": 67.496675,
        "energy": 77.589926,
        "activity_lines": [
          45.235333,
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          43.233903
        ]
      },
      {
        "date": "2026-07-31",
        "close": 44.855,
        "volume": 83426,
        "typical_volume": 35009.2,
        "trend": 43.258167,
        "fair_value": 41.593149,
        "relative_strength": -3.040845,
        "stage": 1,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 61.534795,
        "energy": 49.603957,
        "activity_lines": [
          45.090666,
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          43.634512,
          43.339963
        ]
      },
      {
        "date": "2026-08-07",
        "close": 45.540001,
        "volume": 50619,
        "typical_volume": 36673.6,
        "trend": 43.2885,
        "fair_value": 41.565077,
        "relative_strength": -1.909067,
        "stage": 1,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 66.570882,
        "energy": 49.163932,
        "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."
    }
  }
}