{
  "ticker": {
    "uuid": "39db2c08-f32e-479b-a5c5-82dd6ed5c817",
    "symbol": "XLI",
    "name": "State Street Industrial Select Sector SPDR ETF",
    "exchange": "MEX",
    "country": "MX",
    "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": "^MXX",
    "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": 69.523,
    "architecture_energy": 48.28,
    "architecture_maturity": 77.824,
    "architecture_confidence": 64.021,
    "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": 14.97,
        "rotation_up": 49.36,
        "upward_expansion": 76.13,
        "deceleration": 68.65,
        "rotation_down": 27.42,
        "downward_expansion": 11.8
      },
      "activity_lines": [
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      "activity_state": "Moderate",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": 0.666667
    },
    "latest_close": 3181.0,
    "trend_reference": 3022.239754,
    "distance_from_trend": 0.052531,
    "trend_direction": "Improving",
    "fair_value": 2538.368597,
    "distance_from_fair_value": 0.253167,
    "fair_value_direction": "Improving",
    "relative_strength": 6.208762,
    "relative_strength_direction": "Improving",
    "price_momentum": 0.069908,
    "excess_performance": 0.124575,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.052531,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.03767,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.253167,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.020753,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.062088,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.114649,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.069908,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": false,
        "value": 0.740781,
        "read": "Supply-led"
      }
    ],
    "volume": {
      "latest": 2395,
      "relative_activity": 0.534038,
      "balance": 0.740781,
      "dry_up": 0.454991,
      "accumulation_observations": 0,
      "distribution_observations": 0
    },
    "risk": {
      "range_context": 0.02059,
      "annualized_volatility": 0.133497,
      "from_high_reference": -0.013949,
      "from_low_reference": 0.16977
    },
    "levels": {
      "trend_reference": 3022.239754,
      "fair_value_reference": 2538.368597,
      "structural_low": 2843.0,
      "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": 29,
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        "positive_rate": 0.586207,
        "directional_follow_through": 0.586207,
        "median_excess_return": 0.009019,
        "regime_survival": 0.758621,
        "best_return": 0.08977,
        "worst_return": -0.104661,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 11,
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        "worst_return": -0.106287,
        "sufficient": true
      },
      {
        "horizon": "Extended",
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        "directional_follow_through": 0.571429,
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        "worst_return": -0.108228,
        "sufficient": true
      },
      {
        "horizon": "Full cycle",
        "sample_count": 4,
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        "worst_return": -0.086383,
        "sufficient": false
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        "regime": "upward_expansion",
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      },
      {
        "date": "2026-07-24",
        "close": 3192.0,
        "volume": 1887,
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        "relative_strength": 7.279671,
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        "modifier": "Re-accelerating",
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      },
      {
        "date": "2026-07-31",
        "close": 3097.0,
        "volume": 467,
        "typical_volume": 4409.05,
        "trend": 3013.097721,
        "fair_value": 2529.785202,
        "relative_strength": 3.381093,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 61.909701,
        "energy": 51.39866,
        "activity_lines": [
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      },
      {
        "date": "2026-08-07",
        "close": 3181.0,
        "volume": 2395,
        "typical_volume": 4484.7,
        "trend": 3022.239754,
        "fair_value": 2538.368597,
        "relative_strength": 6.208762,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
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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."
    }
  }
}