{
  "ticker": {
    "uuid": "3a97bb4c-be3e-4416-b649-2193e3cfcdbc",
    "symbol": "SXLF",
    "name": "State Street SPDR S&P U.S. Financials 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": 2,
    "stage_name": "Advancing",
    "phase": "2a",
    "phase_label": "Stage 2A \u00b7 Early advance",
    "transition": "stage_2_healthy",
    "transition_label": "Stage 2 trend intact",
    "confidence": 70.444,
    "architecture_regime": "upward_expansion",
    "architecture_regime_label": "Upward Expansion",
    "architecture_modifier": "Early expansion",
    "architecture_gate": "up",
    "architecture_direction": 81.971,
    "architecture_energy": 92.269,
    "architecture_maturity": 13.551,
    "architecture_confidence": 67.489,
    "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": 7.82,
        "rotation_up": 85.5,
        "upward_expansion": 99.75,
        "deceleration": 39.09,
        "rotation_down": 9.44,
        "downward_expansion": 21.75
      },
      "activity_lines": [
        67.53125,
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        64.570989,
        63.359576
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      "activity_state": "Wide",
      "activity_direction": "Expanding",
      "rotation_direction": "Improving",
      "price_acceptance": 1.0
    },
    "latest_close": 68.260002,
    "trend_reference": 62.373042,
    "distance_from_trend": 0.094383,
    "trend_direction": "Improving",
    "fair_value": 54.660905,
    "distance_from_fair_value": 0.24879,
    "fair_value_direction": "Improving",
    "relative_strength": 0.421264,
    "relative_strength_direction": "Improving",
    "price_momentum": 0.071123,
    "excess_performance": 0.019888,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.094383,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.010627,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.24879,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.09142,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.004213,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.077511,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.071123,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": false,
        "value": 0.67885,
        "read": "Supply-led"
      }
    ],
    "volume": {
      "latest": 64150,
      "relative_activity": 0.386338,
      "balance": 0.67885,
      "dry_up": 0.34618,
      "accumulation_observations": 0,
      "distribution_observations": 1
    },
    "risk": {
      "range_context": 0.020076,
      "annualized_volatility": 0.139851,
      "from_high_reference": -0.016037,
      "from_low_reference": 0.209105
    },
    "levels": {
      "trend_reference": 62.373042,
      "fair_value_reference": 54.660905,
      "structural_low": 56.455002,
      "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": 31,
        "median_return": 0.001503,
        "positive_rate": 0.516129,
        "directional_follow_through": 0.516129,
        "median_excess_return": -0.006937,
        "regime_survival": 0.677419,
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        "worst_return": -0.138385,
        "sufficient": true
      },
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        "horizon": "Intermediate",
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        "worst_return": -0.16297,
        "sufficient": true
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        "horizon": "Extended",
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        "horizon": "Full cycle",
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        "worst_return": -0.05596,
        "sufficient": false
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        "regime": "balance",
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      {
        "regime": "rotation_down",
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      },
      {
        "date": "2026-05-01",
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        "fair_value": 52.343542,
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      },
      {
        "date": "2026-05-08",
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        "stage": 4,
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        "modifier": "Balance after decline",
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      },
      {
        "date": "2026-05-15",
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      },
      {
        "date": "2026-05-22",
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        "typical_volume": 292074.7,
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      },
      {
        "date": "2026-05-29",
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      },
      {
        "date": "2026-06-05",
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        "typical_volume": 298763.6,
        "trend": 61.735,
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        "relative_strength": -5.775997,
        "stage": 4,
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        "energy": 7.931239,
        "activity_lines": [
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      },
      {
        "date": "2026-06-12",
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        "typical_volume": 293223.35,
        "trend": 61.778833,
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        "relative_strength": -4.492038,
        "stage": 3,
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        "modifier": "Balance after decline",
        "gate": "mixed",
        "direction": 33.397396,
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      },
      {
        "date": "2026-06-19",
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        "typical_volume": 283858.5,
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        "relative_strength": -3.078022,
        "stage": 3,
        "regime": "rotation_up",
        "modifier": "Structural repair",
        "gate": "mixed",
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        "activity_lines": [
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      },
      {
        "date": "2026-06-26",
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        "volume": 10189,
        "typical_volume": 274815.25,
        "trend": 61.907875,
        "fair_value": 53.611058,
        "relative_strength": -3.504956,
        "stage": 3,
        "regime": "rotation_up",
        "modifier": "Value reclamation",
        "gate": "mixed",
        "direction": 39.127696,
        "energy": 61.969583,
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      },
      {
        "date": "2026-07-03",
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        "typical_volume": 267892.6,
        "trend": 62.002458,
        "fair_value": 53.788133,
        "relative_strength": -1.643134,
        "stage": 3,
        "regime": "rotation_up",
        "modifier": "Value reclamation",
        "gate": "mixed",
        "direction": 62.759571,
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      },
      {
        "date": "2026-07-10",
        "close": 65.947502,
        "volume": 70719,
        "typical_volume": 266445.55,
        "trend": 62.052917,
        "fair_value": 53.959968,
        "relative_strength": 0.15162,
        "stage": 3,
        "regime": "rotation_up",
        "modifier": "Value reclamation",
        "gate": "mixed",
        "direction": 55.565068,
        "energy": 80.896115,
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      },
      {
        "date": "2026-07-17",
        "close": 67.216248,
        "volume": 87159,
        "typical_volume": 264389.75,
        "trend": 62.140959,
        "fair_value": 54.132211,
        "relative_strength": 1.245122,
        "stage": 3,
        "regime": "rotation_up",
        "modifier": "Value reclamation",
        "gate": "up",
        "direction": 88.978951,
        "energy": 95.172883,
        "activity_lines": [
          65.939,
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          62.975572,
          62.315288
        ]
      },
      {
        "date": "2026-07-24",
        "close": 66.926247,
        "volume": 29869,
        "typical_volume": 258282.65,
        "trend": 62.192375,
        "fair_value": 54.302989,
        "relative_strength": -0.277799,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 77.936575,
        "energy": 91.678324,
        "activity_lines": [
          66.481583,
          65.224227,
          63.482988,
          62.624016
        ]
      },
      {
        "date": "2026-07-31",
        "close": 67.627502,
        "volume": 48750,
        "typical_volume": 205364.75,
        "trend": 62.293958,
        "fair_value": 54.478654,
        "relative_strength": -0.330753,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 80.294947,
        "energy": 92.175075,
        "activity_lines": [
          67.025917,
          65.857887,
          64.020173,
          62.97467
        ]
      },
      {
        "date": "2026-08-07",
        "close": 68.260002,
        "volume": 64150,
        "typical_volume": 166046.35,
        "trend": 62.373042,
        "fair_value": 54.660905,
        "relative_strength": 0.421264,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 81.97143,
        "energy": 92.269237,
        "activity_lines": [
          67.53125,
          66.495455,
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          63.359576
        ]
      }
    ],
    "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."
    }
  }
}