{ "ticker": { "uuid": "0add9c07-0b3c-4eea-bbbe-b7798dac89c7", "symbol": "ZXLB", "name": "BMO SPDR Materials Select Sector Index ETF", "exchange": "TOR", "country": "CA", "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": "2026-08-21", "benchmark": "^GSPTSE", "stage": 2, "stage_name": "Advancing", "phase": "2a", "phase_label": "Stage 2A \u00b7 Early advance", "transition": "stage_2_healthy", "transition_label": "Stage 2 trend intact", "confidence": 59.539, "architecture_regime": "upward_expansion", "architecture_regime_label": "Upward Expansion", "architecture_modifier": "Early expansion", "architecture_gate": "up", "architecture_direction": 51.352, "architecture_energy": 35.091, "architecture_maturity": 14.996, "architecture_confidence": 53.475, "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": 28.61, "rotation_up": 47.06, "upward_expansion": 75.13, "deceleration": 66.4, "rotation_down": 26.8, "downward_expansion": 8.79 }, "activity_lines": [ 33.714001, 33.641819, 33.512715, 33.267226 ], "activity_state": "Moderate", "activity_direction": "Contracting", "rotation_direction": "Weakening", "price_acceptance": 0.166667 }, "latest_close": 33.740002, "trend_reference": 32.956, "distance_from_trend": 0.023789, "trend_direction": "Improving", "fair_value": 30.051043, "distance_from_fair_value": 0.122756, "fair_value_direction": "Improving", "relative_strength": -3.627056, "relative_strength_direction": "Improving", "price_momentum": 0.007164, "excess_performance": -0.075713, "evidence": [ { "label": "Price vs Trend", "positive": true, "value": 0.023789, "read": "Above" }, { "label": "Trend direction", "positive": true, "value": 0.045146, "read": "Rising" }, { "label": "Price vs current Fair Value", "positive": true, "value": 0.122756, "read": "Premium" }, { "label": "Fair Value direction", "positive": true, "value": 0.026944, "read": "Closing upward" }, { "label": "Relative Strength vs benchmark", "positive": false, "value": -0.036271, "read": "Lagging" }, { "label": "Relative strength direction", "positive": true, "value": 0.009192, "read": "Improving" }, { "label": "Price momentum", "positive": true, "value": 0.007164, "read": "Positive" }, { "label": "Volume balance", "positive": false, "value": 0.434343, "read": "Supply-led" } ], "volume": { "latest": 0, "relative_activity": 0.0, "balance": 0.434343, "dry_up": 0.71267, "accumulation_observations": 0, "distribution_observations": 3 }, "risk": { "range_context": 0.017509, "annualized_volatility": 0.151811, "from_high_reference": -0.027666, "from_low_reference": 0.225125 }, "levels": { "trend_reference": 32.956, "fair_value_reference": 30.051043, "structural_low": 29.82, "invalidation": "A 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"typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2026-07-24", "close": 32.990002, "volume": 100, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2026-07-31", "close": 32.98, "volume": 2800, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2026-08-07", "close": 34.060001, "volume": 0, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2026-08-14", "close": 33.970001, "volume": 3500, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2026-08-21", "close": 33.740002, "volume": 0, "typical_volume": 2210.0, "trend": 32.956, "fair_value": 30.051043, "relative_strength": -3.627056, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 51.351871, "energy": 35.091242, "activity_lines": [ 33.714001, 33.641819, 33.512715, 33.267226 ] } ], "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." } } }