{
  "ticker": {
    "uuid": "2a817aa3-6b09-4962-a3ff-7a9c77985e25",
    "symbol": "XLPP",
    "name": "Invesco Consumer Staples S&P US Select Sector UCITS ETF",
    "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": 3,
    "stage_name": "Distribution",
    "phase": "3b",
    "phase_label": "Stage 3B \u00b7 Distribution",
    "transition": "stage_3_churning",
    "transition_label": "Stage 3 range intact",
    "confidence": 73.018,
    "architecture_regime": "balance",
    "architecture_regime_label": "Balance",
    "architecture_modifier": "Upper balance after advance",
    "architecture_gate": "up",
    "architecture_direction": 12.081,
    "architecture_energy": 5.506,
    "architecture_maturity": 20.854,
    "architecture_confidence": 63.176,
    "architecture_tenure": "Developing",
    "architecture": {
      "interpretation": {
        "headline": "Directional pressure has compressed into balance.",
        "body": "Trend and Activity are compressed into balance, so neither side has durable control. Prior structure and the next directional change provide context; balance alone is not assumed to be a base."
      },
      "scores": {
        "balance": 62.7,
        "rotation_up": 28.95,
        "upward_expansion": 50.19,
        "deceleration": 75.61,
        "rotation_down": 25.16,
        "downward_expansion": 23.85
      },
      "activity_lines": [
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      "activity_state": "Compressed",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": -0.333333
    },
    "latest_close": 56200.0,
    "trend_reference": 56431.0,
    "distance_from_trend": -0.004093,
    "trend_direction": "Improving",
    "fair_value": 51826.769231,
    "distance_from_fair_value": 0.084382,
    "fair_value_direction": "Weakening",
    "relative_strength": -4.997663,
    "relative_strength_direction": "Weakening",
    "price_momentum": -0.027177,
    "excess_performance": -0.078412,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": false,
        "value": -0.004093,
        "read": "Below"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.027522,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.084382,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.020114,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.049977,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.039149,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": false,
        "value": -0.027177,
        "read": "Negative"
      },
      {
        "label": "Volume balance",
        "positive": false,
        "value": 0.419325,
        "read": "Supply-led"
      }
    ],
    "volume": {
      "latest": 892,
      "relative_activity": 0.816327,
      "balance": 0.419325,
      "dry_up": 1.515741,
      "accumulation_observations": 1,
      "distribution_observations": 4
    },
    "risk": {
      "range_context": 0.030434,
      "annualized_volatility": 0.157019,
      "from_high_reference": -0.060565,
      "from_low_reference": 0.10917
    },
    "levels": {
      "trend_reference": 56431.0,
      "fair_value_reference": 51826.769231,
      "structural_low": 53958.515625,
      "invalidation": "A decisive breakout above range resistance with renewed RS leadership invalidates the distribution reading; a range-low break confirms deterioration."
    },
    "outcomes": [
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        "horizon": "Near term",
        "sample_count": 11,
        "median_return": -0.001518,
        "positive_rate": 0.454545,
        "directional_follow_through": 0.454545,
        "median_excess_return": 0.000907,
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        "worst_return": -0.040422,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 5,
        "median_return": 0.022287,
        "positive_rate": 0.6,
        "directional_follow_through": 0.6,
        "median_excess_return": -0.003966,
        "regime_survival": 0.4,
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        "worst_return": -0.035606,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 4,
        "median_return": 0.013083,
        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
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        "regime_survival": 0.25,
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        "worst_return": -0.073209,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
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      {
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      },
      {
        "date": "2026-04-10",
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        "date": "2026-04-17",
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        "date": "2026-04-24",
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      {
        "date": "2026-05-08",
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        "date": "2026-05-15",
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        "modifier": "Re-acceleration watch",
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      },
      {
        "date": "2026-05-22",
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        "stage": 2,
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      {
        "date": "2026-05-29",
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        "volume": 1160,
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      {
        "date": "2026-06-05",
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        "fair_value": 51236.871795,
        "relative_strength": -2.019509,
        "stage": 2,
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        "modifier": "Re-accelerating",
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      },
      {
        "date": "2026-06-12",
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        "volume": 131,
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        "trend": 55234.833333,
        "fair_value": 51305.714744,
        "relative_strength": -1.25417,
        "stage": 2,
        "regime": "balance",
        "modifier": "Upper balance after advance",
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        "energy": 12.94433,
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        "date": "2026-06-19",
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      {
        "date": "2026-06-26",
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        "relative_strength": 0.052245,
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      },
      {
        "date": "2026-07-03",
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      },
      {
        "date": "2026-07-10",
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      },
      {
        "date": "2026-07-17",
        "close": 57270.0,
        "volume": 278,
        "typical_volume": 803.0,
        "trend": 55945.333333,
        "fair_value": 51647.416667,
        "relative_strength": -1.073157,
        "stage": 2,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "up",
        "direction": 52.431042,
        "energy": 25.499269,
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          56747.666667,
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          56488.880952,
          56453.236559
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      },
      {
        "date": "2026-07-24",
        "close": 56365.0,
        "volume": 3319,
        "typical_volume": 963.65,
        "trend": 56122.333333,
        "fair_value": 51705.596154,
        "relative_strength": -3.70685,
        "stage": 2,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "up",
        "direction": 35.360179,
        "energy": 13.726395,
        "activity_lines": [
          56616.333333,
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          56485.833333,
          56480.311828
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      },
      {
        "date": "2026-07-31",
        "close": 56570.0,
        "volume": 2136,
        "typical_volume": 1058.35,
        "trend": 56301.666667,
        "fair_value": 51767.144231,
        "relative_strength": -4.320884,
        "stage": 3,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "up",
        "direction": 18.375126,
        "energy": 7.888884,
        "activity_lines": [
          56555.666667,
          56608.727273,
          56507.238095,
          56509.193548
        ]
      },
      {
        "date": "2026-08-07",
        "close": 56200.0,
        "volume": 892,
        "typical_volume": 1092.7,
        "trend": 56431.0,
        "fair_value": 51826.769231,
        "relative_strength": -4.997663,
        "stage": 3,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "up",
        "direction": 12.08146,
        "energy": 5.506125,
        "activity_lines": [
          56449.333333,
          56560.181818,
          56498.761905,
          56502.634409
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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."
    }
  }
}