{
  "ticker": {
    "uuid": "717f7d96-058c-4127-9b80-fdd34bc28309",
    "symbol": "SWRD",
    "name": "State Street SPDR MSCI World 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": "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": 84.373,
    "architecture_energy": 61.107,
    "architecture_maturity": 50.19,
    "architecture_confidence": 78.372,
    "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": 14.85,
        "rotation_up": 55.94,
        "upward_expansion": 80.06,
        "deceleration": 63.55,
        "rotation_down": 25.49,
        "downward_expansion": 9.06
      },
      "activity_lines": [
        52.966667,
        52.640637,
        52.111072,
        51.186877
      ],
      "activity_state": "Wide",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": 0.5
    },
    "latest_close": 54.375,
    "trend_reference": 50.152334,
    "distance_from_trend": 0.084197,
    "trend_direction": "Improving",
    "fair_value": 40.783782,
    "distance_from_fair_value": 0.333251,
    "fair_value_direction": "Improving",
    "relative_strength": 3.326413,
    "relative_strength_direction": "Weakening",
    "price_momentum": 0.117907,
    "excess_performance": 0.066672,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.084197,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.03587,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.333251,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.013627,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.033264,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.017563,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.117907,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 1.497263,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 583248,
      "relative_activity": 1.228464,
      "balance": 1.497263,
      "dry_up": 1.218043,
      "accumulation_observations": 3,
      "distribution_observations": 2
    },
    "risk": {
      "range_context": 0.019713,
      "annualized_volatility": 0.130925,
      "from_high_reference": -0.00101,
      "from_low_reference": 0.234813
    },
    "levels": {
      "trend_reference": 50.152334,
      "fair_value_reference": 40.783782,
      "structural_low": 45.060001,
      "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": 43,
        "median_return": 0.012608,
        "positive_rate": 0.651163,
        "directional_follow_through": 0.651163,
        "median_excess_return": 0.001798,
        "regime_survival": 0.837209,
        "best_return": 0.054874,
        "worst_return": -0.087842,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 16,
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        "directional_follow_through": 0.75,
        "median_excess_return": 0.007804,
        "regime_survival": 0.8125,
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        "worst_return": -0.100543,
        "sufficient": true
      },
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        "horizon": "Extended",
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        "median_excess_return": 0.038182,
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        "worst_return": -0.167879,
        "sufficient": true
      },
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        "horizon": "Full cycle",
        "sample_count": 4,
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        "worst_return": -0.127829,
        "sufficient": false
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        "date": "2026-06-12",
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      },
      {
        "date": "2026-07-03",
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      },
      {
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      },
      {
        "date": "2026-07-17",
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        "typical_volume": 528467.25,
        "trend": 49.673167,
        "fair_value": 40.367211,
        "relative_strength": 2.198994,
        "stage": 2,
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        "modifier": "Established expansion",
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        "energy": 53.124345,
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      },
      {
        "date": "2026-07-24",
        "close": 52.150002,
        "volume": 527347,
        "typical_volume": 501175.3,
        "trend": 49.809834,
        "fair_value": 40.497965,
        "relative_strength": 0.704777,
        "stage": 2,
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      },
      {
        "date": "2026-07-31",
        "close": 52.235001,
        "volume": 360941,
        "typical_volume": 481011.95,
        "trend": 49.958,
        "fair_value": 40.632564,
        "relative_strength": -0.383347,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 56.875826,
        "energy": 45.722939,
        "activity_lines": [
          52.303668,
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          51.764155,
          50.901909
        ]
      },
      {
        "date": "2026-08-07",
        "close": 54.375,
        "volume": 583248,
        "typical_volume": 474778.35,
        "trend": 50.152334,
        "fair_value": 40.783782,
        "relative_strength": 3.326413,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 84.372618,
        "energy": 61.107337,
        "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."
    }
  }
}