{
  "ticker": {
    "uuid": "805fa781-fc88-4a0a-8450-ad4a5d9a30d3",
    "symbol": "WCOS",
    "name": "State Street SPDR MSCI World Consumer Staples 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": 3,
    "stage_name": "Distribution",
    "phase": "3b",
    "phase_label": "Stage 3B \u00b7 Distribution",
    "transition": "stage_3_churning",
    "transition_label": "Stage 3 range intact",
    "confidence": 67.412,
    "architecture_regime": "balance",
    "architecture_regime_label": "Balance",
    "architecture_modifier": "Upper balance after advance",
    "architecture_gate": "up",
    "architecture_direction": 51.686,
    "architecture_energy": 35.756,
    "architecture_maturity": 11.197,
    "architecture_confidence": 74.881,
    "architecture_tenure": "Developing",
    "architecture": {
      "interpretation": {
        "headline": "The prior uptrend is attempting to re-accelerate.",
        "body": "Positive Trend survived a recompression and Fast Activity is strengthening again. Promotion requires renewed confirmation across the completed evidence set."
      },
      "scores": {
        "balance": 40.33,
        "rotation_up": 54.33,
        "upward_expansion": 78.48,
        "deceleration": 51.6,
        "rotation_down": 17.78,
        "downward_expansion": 7.48
      },
      "activity_lines": [
        55.105001,
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        54.588095,
        54.537602
      ],
      "activity_state": "Compressed",
      "activity_direction": "Expanding",
      "rotation_direction": "Improving",
      "price_acceptance": 0.5
    },
    "latest_close": 55.345001,
    "trend_reference": 54.529334,
    "distance_from_trend": 0.014958,
    "trend_direction": "Improving",
    "fair_value": 49.010224,
    "distance_from_fair_value": 0.129254,
    "fair_value_direction": "Weakening",
    "relative_strength": -3.702703,
    "relative_strength_direction": "Weakening",
    "price_momentum": -0.022432,
    "excess_performance": -0.073668,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.014958,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.023381,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.129254,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.002881,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.037027,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.020888,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": false,
        "value": -0.022432,
        "read": "Negative"
      },
      {
        "label": "Volume balance",
        "positive": false,
        "value": 0.2717,
        "read": "Supply-led"
      }
    ],
    "volume": {
      "latest": 6219,
      "relative_activity": 0.207782,
      "balance": 0.2717,
      "dry_up": 0.365098,
      "accumulation_observations": 0,
      "distribution_observations": 3
    },
    "risk": {
      "range_context": 0.031417,
      "annualized_volatility": 0.154557,
      "from_high_reference": -0.052312,
      "from_low_reference": 0.12949
    },
    "levels": {
      "trend_reference": 54.529334,
      "fair_value_reference": 49.010224,
      "structural_low": 51.849998,
      "invalidation": "A decisive breakout above range resistance with renewed RS leadership invalidates the distribution reading; a range-low break confirms deterioration."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 11,
        "median_return": 0.004004,
        "positive_rate": 0.545455,
        "directional_follow_through": 0.545455,
        "median_excess_return": -0.010339,
        "regime_survival": 0.545455,
        "best_return": 0.105328,
        "worst_return": -0.083708,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 5,
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        "positive_rate": 0.6,
        "directional_follow_through": 0.6,
        "median_excess_return": -0.012356,
        "regime_survival": 0.2,
        "best_return": 0.041823,
        "worst_return": -0.077159,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 3,
        "median_return": 0.058423,
        "positive_rate": 0.666667,
        "directional_follow_through": 0.666667,
        "median_excess_return": -0.015095,
        "regime_survival": 0.0,
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        "worst_return": -0.153004,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
        "sample_count": 2,
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        "worst_return": -0.006129,
        "sufficient": false
      }
    ],
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        "color": "amber",
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        "end": "2024-07-19",
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        "return": 0.022976,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
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        "tenure": "Established",
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        "active": false
      },
      {
        "regime": "deceleration",
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        "active": false
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        "regime": "rotation_down",
        "label": "Rotation Down",
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        "active": false
      },
      {
        "regime": "downward_expansion",
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      {
        "regime": "rotation_up",
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      {
        "regime": "deceleration",
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        "regime": "balance",
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        "typical_volume": 59359.0,
        "trend": 52.7945,
        "fair_value": 48.164808,
        "relative_strength": -2.536874,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 38.127088,
        "energy": 20.374782,
        "activity_lines": [
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        ]
      },
      {
        "date": "2026-05-08",
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        "typical_volume": 63842.15,
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        "fair_value": 48.218622,
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        "gate": "up",
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        "energy": 22.961973,
        "activity_lines": [
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        ]
      },
      {
        "date": "2026-05-15",
        "close": 54.950001,
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        "typical_volume": 65184.95,
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        "fair_value": 48.278109,
        "relative_strength": -0.421704,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Re-acceleration watch",
        "gate": "up",
        "direction": 44.018402,
        "energy": 30.211289,
        "activity_lines": [
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        ]
      },
      {
        "date": "2026-05-22",
        "close": 54.724998,
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        "typical_volume": 66627.45,
        "trend": 53.158167,
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        "relative_strength": -3.163181,
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        "regime": "deceleration",
        "modifier": "Re-acceleration watch",
        "gate": "up",
        "direction": 40.164361,
        "energy": 31.288468,
        "activity_lines": [
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      },
      {
        "date": "2026-05-29",
        "close": 53.41,
        "volume": 130642,
        "typical_volume": 68927.65,
        "trend": 53.2835,
        "fair_value": 48.402821,
        "relative_strength": -4.695564,
        "stage": 3,
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        "modifier": "Recompressing",
        "gate": "up",
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        "activity_lines": [
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        ]
      },
      {
        "date": "2026-06-05",
        "close": 53.424999,
        "volume": 17991,
        "typical_volume": 69564.75,
        "trend": 53.391333,
        "fair_value": 48.463045,
        "relative_strength": -4.049743,
        "stage": 3,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 9.759326,
        "energy": 5.413706,
        "activity_lines": [
          53.961999,
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      },
      {
        "date": "2026-06-12",
        "close": 54.84,
        "volume": 4384,
        "typical_volume": 68701.2,
        "trend": 53.540167,
        "fair_value": 48.524615,
        "relative_strength": -2.269729,
        "stage": 3,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 27.315869,
        "energy": 11.837062,
        "activity_lines": [
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      },
      {
        "date": "2026-06-19",
        "close": 53.334999,
        "volume": 6268,
        "typical_volume": 68363.2,
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        "fair_value": 48.579199,
        "relative_strength": -3.72721,
        "stage": 3,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 2.907445,
        "energy": 9.598442,
        "activity_lines": [
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        ]
      },
      {
        "date": "2026-06-26",
        "close": 54.830002,
        "volume": 5364,
        "typical_volume": 62648.3,
        "trend": 53.738833,
        "fair_value": 48.642372,
        "relative_strength": -2.188459,
        "stage": 3,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 34.958599,
        "energy": 13.702776,
        "activity_lines": [
          54.151334,
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          54.191143,
          54.183925
        ]
      },
      {
        "date": "2026-07-03",
        "close": 54.814999,
        "volume": 3995,
        "typical_volume": 61623.4,
        "trend": 53.863667,
        "fair_value": 48.707276,
        "relative_strength": -3.527484,
        "stage": 3,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 37.443698,
        "energy": 18.940389,
        "activity_lines": [
          54.433667,
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          54.217095,
          54.253355
        ]
      },
      {
        "date": "2026-07-10",
        "close": 54.330002,
        "volume": 145349,
        "typical_volume": 62233.25,
        "trend": 53.974333,
        "fair_value": 48.765128,
        "relative_strength": -2.544978,
        "stage": 3,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "up",
        "direction": 31.112786,
        "energy": 17.102672,
        "activity_lines": [
          54.460667,
          54.310727,
          54.211929,
          54.283441
        ]
      },
      {
        "date": "2026-07-17",
        "close": 55.735001,
        "volume": 23663,
        "typical_volume": 42147.05,
        "trend": 54.122834,
        "fair_value": 48.828878,
        "relative_strength": -0.844539,
        "stage": 3,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "up",
        "direction": 51.993393,
        "energy": 36.178154,
        "activity_lines": [
          54.895668,
          54.567091,
          54.351762,
          54.397032
        ]
      },
      {
        "date": "2026-07-24",
        "close": 54.310001,
        "volume": 9519,
        "typical_volume": 30634.8,
        "trend": 54.2435,
        "fair_value": 48.880577,
        "relative_strength": -4.419984,
        "stage": 3,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "up",
        "direction": 33.694143,
        "energy": 29.300964,
        "activity_lines": [
          54.796001,
          54.543546,
          54.366667,
          54.409108
        ]
      },
      {
        "date": "2026-07-31",
        "close": 55.279999,
        "volume": 4309,
        "typical_volume": 30228.65,
        "trend": 54.389834,
        "fair_value": 48.944519,
        "relative_strength": -3.734569,
        "stage": 3,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "up",
        "direction": 42.599291,
        "energy": 29.519962,
        "activity_lines": [
          54.954667,
          54.708,
          54.475833,
          54.475979
        ]
      },
      {
        "date": "2026-08-07",
        "close": 55.345001,
        "volume": 6219,
        "typical_volume": 29930.35,
        "trend": 54.529334,
        "fair_value": 49.010224,
        "relative_strength": -3.702703,
        "stage": 3,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "up",
        "direction": 51.686264,
        "energy": 35.755823,
        "activity_lines": [
          55.105001,
          54.874182,
          54.588095,
          54.537602
        ]
      }
    ],
    "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."
    }
  }
}