{
  "ticker": {
    "uuid": "7616a22e-aab6-4c2a-ae93-ae35e78cfe20",
    "symbol": "XACT-NORDEN",
    "name": "XACT NORDEN",
    "exchange": "STO",
    "country": "SE",
    "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": "^OMX",
    "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": 71.666,
    "architecture_energy": 55.115,
    "architecture_maturity": 57.091,
    "architecture_confidence": 77.964,
    "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": 9.09,
        "rotation_up": 52.53,
        "upward_expansion": 82.24,
        "deceleration": 63.52,
        "rotation_down": 27.49,
        "downward_expansion": 8.9
      },
      "activity_lines": [
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      "activity_state": "Wide",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": 0.666667
    },
    "latest_close": 298.899994,
    "trend_reference": 280.293333,
    "distance_from_trend": 0.066383,
    "trend_direction": "Improving",
    "fair_value": 262.557051,
    "distance_from_fair_value": 0.138419,
    "fair_value_direction": "Improving",
    "relative_strength": -1.076298,
    "relative_strength_direction": "Improving",
    "price_momentum": 0.089881,
    "excess_performance": 0.028387,
    "evidence": [
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        "label": "Price vs Trend",
        "positive": true,
        "value": 0.066383,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.041957,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.138419,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.045988,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.010763,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.004418,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.089881,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 2.768613,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 430527,
      "relative_activity": 0.731439,
      "balance": 2.768613,
      "dry_up": 1.079602,
      "accumulation_observations": 3,
      "distribution_observations": 1
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    "risk": {
      "range_context": 0.021708,
      "annualized_volatility": 0.14169,
      "from_high_reference": -0.007471,
      "from_low_reference": 0.250366
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    "levels": {
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      "fair_value_reference": 262.557051,
      "structural_low": 244.699997,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
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    "outcomes": [
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        "horizon": "Near term",
        "sample_count": 34,
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        "directional_follow_through": 0.617647,
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        "worst_return": -0.058615,
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      },
      {
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      },
      {
        "date": "2026-07-24",
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        "typical_volume": 522743.15,
        "trend": 278.471666,
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        "relative_strength": 0.41257,
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      },
      {
        "date": "2026-07-31",
        "close": 295.850006,
        "volume": 1973268,
        "typical_volume": 579694.95,
        "trend": 279.495,
        "fair_value": 262.141026,
        "relative_strength": -0.15424,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 63.540569,
        "energy": 51.055975,
        "activity_lines": [
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      },
      {
        "date": "2026-08-07",
        "close": 298.899994,
        "volume": 430527,
        "typical_volume": 588602.6,
        "trend": 280.293333,
        "fair_value": 262.557051,
        "relative_strength": -1.076298,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
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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."
    }
  }
}