{
  "ticker": {
    "uuid": "2aced96b-7492-4c63-8068-8db8c272e701",
    "symbol": "GLDM",
    "name": "WORLD GOLD TRUST SPDR GOLD MINISHARES TRUST(POST REV SPL)",
    "exchange": "NYSEARCA",
    "country": "US",
    "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": "SPY",
    "stage": 4,
    "stage_name": "Declining",
    "phase": "4a",
    "phase_label": "Stage 4A \u00b7 Breakdown",
    "transition": "stage_4_declining",
    "transition_label": "Stage 4 decline intact",
    "confidence": 69.885,
    "architecture_regime": "downward_expansion",
    "architecture_regime_label": "Downward Expansion",
    "architecture_modifier": "Early contraction",
    "architecture_gate": "down",
    "architecture_direction": -51.615,
    "architecture_energy": 42.596,
    "architecture_maturity": 54.126,
    "architecture_confidence": 68.748,
    "architecture_tenure": "Developing",
    "architecture": {
      "interpretation": {
        "headline": "The weekly architecture is expanding downward.",
        "body": "Trend and Activity show sustained negative alignment with weak price acceptance. Repair requires persistent improvement across the structure, not merely one strong observation."
      },
      "scores": {
        "balance": 20.45,
        "rotation_up": 25.66,
        "upward_expansion": 17.92,
        "deceleration": 66.32,
        "rotation_down": 49.79,
        "downward_expansion": 72.59
      },
      "activity_lines": [
        82.071333,
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        84.49381,
        87.20428
      ],
      "activity_state": "Moderate",
      "activity_direction": "Contracting",
      "rotation_direction": "Improving",
      "price_acceptance": -0.833333
    },
    "latest_close": 85.95,
    "trend_reference": 90.630667,
    "distance_from_trend": -0.051646,
    "trend_direction": "Weakening",
    "fair_value": 62.044615,
    "distance_from_fair_value": 0.385293,
    "fair_value_direction": "Weakening",
    "relative_strength": -10.59326,
    "relative_strength_direction": "Weakening",
    "price_momentum": -0.123496,
    "excess_performance": -0.249121,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": false,
        "value": -0.051646,
        "read": "Below"
      },
      {
        "label": "Trend direction",
        "positive": false,
        "value": -0.007907,
        "read": "Falling"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.385293,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.21912,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.105933,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.134219,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": false,
        "value": -0.123496,
        "read": "Negative"
      },
      {
        "label": "Volume balance",
        "positive": false,
        "value": 0.593792,
        "read": "Supply-led"
      }
    ],
    "volume": {
      "latest": 22834109,
      "relative_activity": 1.088459,
      "balance": 0.593792,
      "dry_up": 0.819857,
      "accumulation_observations": 1,
      "distribution_observations": 1
    },
    "risk": {
      "range_context": 0.046257,
      "annualized_volatility": 0.241946,
      "from_high_reference": -0.216785,
      "from_low_reference": 0.309515
    },
    "levels": {
      "trend_reference": 90.630667,
      "fair_value_reference": 62.044615,
      "structural_low": 78.33,
      "invalidation": "Reclaiming a flat-to-rising Trend with improving relative strength is required before the declining diagnosis is repaired."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 9,
        "median_return": 0.003659,
        "positive_rate": 0.666667,
        "directional_follow_through": 0.333333,
        "median_excess_return": 0.007781,
        "regime_survival": 0.666667,
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        "worst_return": -0.042087,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 4,
        "median_return": 0.038728,
        "positive_rate": 0.75,
        "directional_follow_through": 0.25,
        "median_excess_return": -0.002426,
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        "worst_return": -0.040292,
        "sufficient": false
      },
      {
        "horizon": "Extended",
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        "sufficient": false
      },
      {
        "horizon": "Full cycle",
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        "directional_follow_through": 0.333333,
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        "worst_return": -0.071429,
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      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
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      },
      {
        "regime": "balance",
        "label": "Balance",
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      {
        "regime": "rotation_up",
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      },
      {
        "regime": "upward_expansion",
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        "regime": "deceleration",
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      {
        "regime": "upward_expansion",
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      {
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        "regime": "upward_expansion",
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        "date": "2026-04-24",
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      },
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        "date": "2026-07-17",
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        "typical_volume": 24642611.35,
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        "stage": 4,
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        "modifier": "Early contraction",
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        "direction": -75.798142,
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      },
      {
        "date": "2026-07-24",
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        "typical_volume": 22777536.25,
        "trend": 90.926667,
        "fair_value": 61.470192,
        "relative_strength": -12.661389,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
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        "direction": -68.311126,
        "energy": 68.284682,
        "activity_lines": [
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      },
      {
        "date": "2026-07-31",
        "close": 80.14,
        "volume": 18014184,
        "typical_volume": 22078411.7,
        "trend": 90.74,
        "fair_value": 61.737051,
        "relative_strength": -13.651566,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -67.102388,
        "energy": 59.339433,
        "activity_lines": [
          80.262,
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      },
      {
        "date": "2026-08-07",
        "close": 85.95,
        "volume": 22834109,
        "typical_volume": 20978385.45,
        "trend": 90.630667,
        "fair_value": 62.044615,
        "relative_strength": -10.59326,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -51.615447,
        "energy": 42.596143,
        "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."
    }
  }
}