{
  "ticker": {
    "uuid": "eec13de9-0aab-40a8-9d36-e4bf50a4eaa3",
    "symbol": "RTWO",
    "name": "L&G Russell 2000 US Small Cap Quality UCITS ETF USD Accumulate",
    "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": "upward_expansion",
    "architecture_regime_label": "Upward Expansion",
    "architecture_modifier": "Established expansion",
    "architecture_gate": "up",
    "architecture_direction": 76.658,
    "architecture_energy": 61.732,
    "architecture_maturity": 81.739,
    "architecture_confidence": 67.392,
    "architecture_tenure": "Established",
    "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": 23.58,
        "rotation_up": 48.13,
        "upward_expansion": 79.47,
        "deceleration": 73.52,
        "rotation_down": 29.12,
        "downward_expansion": 10.8
      },
      "activity_lines": [
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        139.004527,
        135.482939
      ],
      "activity_state": "Wide",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": 0.333333
    },
    "latest_close": 144.294998,
    "trend_reference": 131.496836,
    "distance_from_trend": 0.097327,
    "trend_direction": "Improving",
    "fair_value": 107.535882,
    "distance_from_fair_value": 0.341831,
    "fair_value_direction": "Improving",
    "relative_strength": 6.680542,
    "relative_strength_direction": "Weakening",
    "price_momentum": 0.145471,
    "excess_performance": 0.094236,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.097327,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.062638,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.341831,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.035769,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.066805,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.028274,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.145471,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 2.412795,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 9594,
      "relative_activity": 2.804279,
      "balance": 2.412795,
      "dry_up": 1.235312,
      "accumulation_observations": 3,
      "distribution_observations": 1
    },
    "risk": {
      "range_context": 0.022417,
      "annualized_volatility": 0.139442,
      "from_high_reference": -0.009575,
      "from_low_reference": 0.361274
    },
    "levels": {
      "trend_reference": 131.496836,
      "fair_value_reference": 107.535882,
      "structural_low": 115.260002,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
    },
    "outcomes": [
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        "horizon": "Near term",
        "sample_count": 32,
        "median_return": 0.003538,
        "positive_rate": 0.5625,
        "directional_follow_through": 0.5625,
        "median_excess_return": -0.010325,
        "regime_survival": 0.6875,
        "best_return": 0.072631,
        "worst_return": -0.084555,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 14,
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        "directional_follow_through": 0.642857,
        "median_excess_return": 0.000923,
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        "worst_return": -0.163763,
        "sufficient": true
      },
      {
        "horizon": "Extended",
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        "directional_follow_through": 0.625,
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        "worst_return": -0.025576,
        "sufficient": true
      },
      {
        "horizon": "Full cycle",
        "sample_count": 4,
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        "worst_return": -0.179126,
        "sufficient": false
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        "regime": "deceleration",
        "label": "Deceleration",
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        "regime": "downward_expansion",
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      },
      {
        "date": "2026-05-01",
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        "typical_volume": 4128.95,
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        "fair_value": 102.906619,
        "relative_strength": 6.717252,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
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      },
      {
        "date": "2026-05-08",
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      },
      {
        "date": "2026-05-15",
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      },
      {
        "date": "2026-05-22",
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        "typical_volume": 4073.25,
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      },
      {
        "date": "2026-05-29",
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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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      },
      {
        "date": "2026-06-26",
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        "relative_strength": 10.623826,
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        "direction": 80.597785,
        "energy": 89.97172,
        "activity_lines": [
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      },
      {
        "date": "2026-07-03",
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        "volume": 50,
        "typical_volume": 3246.1,
        "trend": 127.960502,
        "fair_value": 105.928125,
        "relative_strength": 8.631325,
        "stage": 2,
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        "modifier": "Re-accelerating",
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        "activity_lines": [
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      },
      {
        "date": "2026-07-10",
        "close": 141.585007,
        "volume": 1181,
        "typical_volume": 3252.6,
        "trend": 128.665669,
        "fair_value": 106.256811,
        "relative_strength": 9.701214,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 67.362248,
        "energy": 84.485744,
        "activity_lines": [
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      },
      {
        "date": "2026-07-17",
        "close": 141.770004,
        "volume": 4909,
        "typical_volume": 3427.25,
        "trend": 129.403169,
        "fair_value": 106.574376,
        "relative_strength": 8.525679,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 66.023907,
        "energy": 82.833335,
        "activity_lines": [
          141.819672,
          140.522823,
          136.534314,
          133.243939
        ]
      },
      {
        "date": "2026-07-24",
        "close": 141.25,
        "volume": 709,
        "typical_volume": 3334.1,
        "trend": 130.108169,
        "fair_value": 106.885497,
        "relative_strength": 6.523797,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 63.736353,
        "energy": 63.653604,
        "activity_lines": [
          141.667003,
          140.954549,
          137.417623,
          134.008251
        ]
      },
      {
        "date": "2026-07-31",
        "close": 139.490005,
        "volume": 1693,
        "typical_volume": 3104.05,
        "trend": 130.819169,
        "fair_value": 107.189504,
        "relative_strength": 3.689438,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 51.108364,
        "energy": 52.810301,
        "activity_lines": [
          140.882004,
          140.899913,
          138.03348,
          134.613531
        ]
      },
      {
        "date": "2026-08-07",
        "close": 144.294998,
        "volume": 9594,
        "typical_volume": 3421.2,
        "trend": 131.496836,
        "fair_value": 107.535882,
        "relative_strength": 6.680542,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 76.658364,
        "energy": 61.732306,
        "activity_lines": [
          141.887335,
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          139.004527,
          135.482939
        ]
      }
    ],
    "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."
    }
  }
}