{
  "ticker": {
    "uuid": "f1278774-8913-4215-8b60-7b6731a179b6",
    "symbol": "VPNG",
    "name": "Global X Data Center REITS & Digital Infrastructure UCITS ETF USD Acc",
    "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": 90.086,
    "architecture_regime": "deceleration",
    "architecture_regime_label": "Deceleration",
    "architecture_modifier": "Recompressing",
    "architecture_gate": "up",
    "architecture_direction": 8.722,
    "architecture_energy": 14.615,
    "architecture_maturity": 47.931,
    "architecture_confidence": 76.469,
    "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": 62.79,
        "rotation_up": 17.74,
        "upward_expansion": 40.52,
        "deceleration": 87.2,
        "rotation_down": 36.24,
        "downward_expansion": 32.19
      },
      "activity_lines": [
        18.955467,
        19.493764,
        19.811509,
        19.30866
      ],
      "activity_state": "Compressed",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": -0.333333
    },
    "latest_close": 19.058001,
    "trend_reference": 18.5235,
    "distance_from_trend": 0.028855,
    "trend_direction": "Improving",
    "fair_value": 12.857096,
    "distance_from_fair_value": 0.482294,
    "fair_value_direction": "Weakening",
    "relative_strength": 6.683467,
    "relative_strength_direction": "Weakening",
    "price_momentum": 0.17977,
    "excess_performance": 0.128535,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.028855,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.116017,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.482294,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.199423,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.066835,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.239506,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.17977,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 2.499286,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 52370,
      "relative_activity": 0.677757,
      "balance": 2.499286,
      "dry_up": 0.720122,
      "accumulation_observations": 3,
      "distribution_observations": 1
    },
    "risk": {
      "range_context": 0.121097,
      "annualized_volatility": 0.277487,
      "from_high_reference": -0.142497,
      "from_low_reference": 0.567528
    },
    "levels": {
      "trend_reference": 18.5235,
      "fair_value_reference": 12.857096,
      "structural_low": 14.0,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 9,
        "median_return": 0.011745,
        "positive_rate": 0.666667,
        "directional_follow_through": 0.666667,
        "median_excess_return": 0.02277,
        "regime_survival": 0.444444,
        "best_return": 0.161836,
        "worst_return": -0.014762,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 6,
        "median_return": 0.118987,
        "positive_rate": 0.833333,
        "directional_follow_through": 0.833333,
        "median_excess_return": 0.086984,
        "regime_survival": 0.333333,
        "best_return": 0.192512,
        "worst_return": -0.11818,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 3,
        "median_return": 0.128532,
        "positive_rate": 1.0,
        "directional_follow_through": 1.0,
        "median_excess_return": 0.096251,
        "regime_survival": 0.0,
        "best_return": 0.371493,
        "worst_return": 0.004323,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
        "sample_count": 1,
        "median_return": -0.009099,
        "positive_rate": 0.0,
        "directional_follow_through": 0.0,
        "median_excess_return": -0.005172,
        "regime_survival": 0.0,
        "best_return": -0.009099,
        "worst_return": -0.009099,
        "sufficient": false
      }
    ],
    "ledger": [
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        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2024-09-20",
        "end": "2024-12-27",
        "tenure": "Established",
        "return": 0.034504,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2025-01-03",
        "end": "2025-01-17",
        "tenure": "New",
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        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
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        "end": "2025-04-04",
        "tenure": "Developing",
        "return": -0.14136,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2025-04-11",
        "end": "2025-06-06",
        "tenure": "Developing",
        "return": 0.156389,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-06-13",
        "end": "2025-06-27",
        "tenure": "New",
        "return": 0.019692,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
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        "end": "2025-08-08",
        "tenure": "Developing",
        "return": 0.024687,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
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        "active": false
      },
      {
        "regime": "deceleration",
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        "return": -0.003951,
        "active": false
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        "active": false
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        "relative_strength": 24.439852,
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        "modifier": "Re-accelerating",
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      },
      {
        "date": "2026-05-08",
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      },
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        "date": "2026-05-15",
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      },
      {
        "date": "2026-05-22",
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      },
      {
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        "typical_volume": 89376.75,
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      },
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        "date": "2026-06-05",
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      },
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        "date": "2026-06-12",
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      },
      {
        "date": "2026-06-26",
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        "relative_strength": 25.374279,
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        "energy": 56.121396,
        "activity_lines": [
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      },
      {
        "date": "2026-07-03",
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        "volume": 9727,
        "typical_volume": 80905.3,
        "trend": 17.734567,
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        "relative_strength": 15.353033,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
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        "direction": 50.099721,
        "energy": 41.091682,
        "activity_lines": [
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      },
      {
        "date": "2026-07-10",
        "close": 19.743999,
        "volume": 91658,
        "typical_volume": 77928.1,
        "trend": 17.918433,
        "fair_value": 12.614391,
        "relative_strength": 16.618725,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 42.958194,
        "energy": 28.966221,
        "activity_lines": [
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      },
      {
        "date": "2026-07-17",
        "close": 18.438,
        "volume": 58685,
        "typical_volume": 77268.95,
        "trend": 18.091367,
        "fair_value": 12.672465,
        "relative_strength": 7.461181,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 18.969769,
        "energy": 19.356922,
        "activity_lines": [
          19.615666,
          20.23909,
          19.880323,
          19.162352
        ]
      },
      {
        "date": "2026-07-24",
        "close": 19.49,
        "volume": 44518,
        "typical_volume": 75725.3,
        "trend": 18.2751,
        "fair_value": 12.736192,
        "relative_strength": 11.645687,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 23.972775,
        "energy": 21.983078,
        "activity_lines": [
          19.395666,
          20.057454,
          19.913271,
          19.252587
        ]
      },
      {
        "date": "2026-07-31",
        "close": 18.488001,
        "volume": 67001,
        "typical_volume": 76717.35,
        "trend": 18.401767,
        "fair_value": 12.79424,
        "relative_strength": 4.248604,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 2.211536,
        "energy": 14.674439,
        "activity_lines": [
          18.996667,
          19.705364,
          19.838533,
          19.266322
        ]
      },
      {
        "date": "2026-08-07",
        "close": 19.058001,
        "volume": 52370,
        "typical_volume": 77269.55,
        "trend": 18.5235,
        "fair_value": 12.857096,
        "relative_strength": 6.683467,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 8.722388,
        "energy": 14.614546,
        "activity_lines": [
          18.955467,
          19.493764,
          19.811509,
          19.30866
        ]
      }
    ],
    "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."
    }
  }
}