{
  "ticker": {
    "uuid": "88aba6d2-662a-41b7-991d-402581c8e0b3",
    "symbol": "USVL",
    "name": "State Street SPDR MSCI USA Value UCITS ETF USD Acc",
    "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": "Re-accelerating",
    "architecture_gate": "up",
    "architecture_direction": 83.146,
    "architecture_energy": 67.561,
    "architecture_maturity": 50.557,
    "architecture_confidence": 87.41,
    "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": 20.02,
        "rotation_up": 56.54,
        "upward_expansion": 85.24,
        "deceleration": 67.27,
        "rotation_down": 28.98,
        "downward_expansion": 11.9
      },
      "activity_lines": [
        98.511333,
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        92.676592
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      "activity_state": "Moderate",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": 0.666667
    },
    "latest_close": 100.989998,
    "trend_reference": 88.667167,
    "distance_from_trend": 0.138979,
    "trend_direction": "Improving",
    "fair_value": 66.664776,
    "distance_from_fair_value": 0.514893,
    "fair_value_direction": "Improving",
    "relative_strength": 14.479643,
    "relative_strength_direction": "Weakening",
    "price_momentum": 0.227991,
    "excess_performance": 0.176756,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.138979,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.092027,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.514893,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.063422,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.144796,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.034922,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.227991,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 2.605858,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 4479,
      "relative_activity": 0.473966,
      "balance": 2.605858,
      "dry_up": 0.903699,
      "accumulation_observations": 1,
      "distribution_observations": 1
    },
    "risk": {
      "range_context": 0.026474,
      "annualized_volatility": 0.15213,
      "from_high_reference": -0.007664,
      "from_low_reference": 0.567073
    },
    "levels": {
      "trend_reference": 88.667167,
      "fair_value_reference": 66.664776,
      "structural_low": 76.720001,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 31,
        "median_return": 0.014153,
        "positive_rate": 0.612903,
        "directional_follow_through": 0.612903,
        "median_excess_return": 0.007743,
        "regime_survival": 0.806452,
        "best_return": 0.116969,
        "worst_return": -0.05112,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
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        "worst_return": -0.097424,
        "sufficient": true
      },
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        "horizon": "Extended",
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        "worst_return": -0.089663,
        "sufficient": true
      },
      {
        "horizon": "Full cycle",
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        "regime": "deceleration",
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        "regime": "rotation_down",
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      },
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        "date": "2026-05-01",
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        "fair_value": 62.570801,
        "relative_strength": 10.994053,
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        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
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        "activity_lines": [
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        "date": "2026-05-08",
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      },
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        "date": "2026-05-15",
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        "relative_strength": 18.484206,
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        "direction": 90.329132,
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        "activity_lines": [
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      },
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        "date": "2026-05-22",
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        "direction": 92.475829,
        "energy": 96.960189,
        "activity_lines": [
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      },
      {
        "date": "2026-05-29",
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      },
      {
        "date": "2026-06-05",
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        "trend": 82.112001,
        "fair_value": 64.049648,
        "relative_strength": 23.730227,
        "stage": 2,
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        "activity_lines": [
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      },
      {
        "date": "2026-06-12",
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        "trend": 82.973501,
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        "relative_strength": 21.61712,
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        "modifier": "Re-accelerating",
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        "date": "2026-06-19",
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        "relative_strength": 19.668038,
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        "activity_lines": [
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      },
      {
        "date": "2026-06-26",
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        "fair_value": 64.942532,
        "relative_strength": 17.869969,
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        "gate": "up",
        "direction": 66.834837,
        "energy": 67.408499,
        "activity_lines": [
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      },
      {
        "date": "2026-07-03",
        "close": 95.68,
        "volume": 12,
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        "trend": 85.291334,
        "fair_value": 65.225193,
        "relative_strength": 13.453698,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
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        "energy": 64.152887,
        "activity_lines": [
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      },
      {
        "date": "2026-07-10",
        "close": 97.195,
        "volume": 30639,
        "typical_volume": 9474.65,
        "trend": 85.966834,
        "fair_value": 65.513141,
        "relative_strength": 16.676963,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 54.240825,
        "energy": 57.22443,
        "activity_lines": [
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      },
      {
        "date": "2026-07-17",
        "close": 96.235001,
        "volume": 14079,
        "typical_volume": 9911.1,
        "trend": 86.613834,
        "fair_value": 65.79,
        "relative_strength": 13.87312,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 50.721284,
        "energy": 52.946686,
        "activity_lines": [
          96.596334,
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          93.608691,
          90.463495
        ]
      },
      {
        "date": "2026-07-24",
        "close": 97.705002,
        "volume": 8752,
        "typical_volume": 9365.6,
        "trend": 87.298167,
        "fair_value": 66.070737,
        "relative_strength": 13.60441,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 54.006323,
        "energy": 52.933388,
        "activity_lines": [
          96.923001,
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          94.38262,
          91.179054
        ]
      },
      {
        "date": "2026-07-31",
        "close": 97.485001,
        "volume": 6850,
        "typical_volume": 9421.85,
        "trend": 87.965,
        "fair_value": 66.354423,
        "relative_strength": 11.421878,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 53.764991,
        "energy": 52.577106,
        "activity_lines": [
          97.134668,
          97.269274,
          95.049358,
          91.836269
        ]
      },
      {
        "date": "2026-08-07",
        "close": 100.989998,
        "volume": 4479,
        "typical_volume": 9450.05,
        "trend": 88.667167,
        "fair_value": 66.664776,
        "relative_strength": 14.479643,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 83.145889,
        "energy": 67.560853,
        "activity_lines": [
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          97.866,
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          92.676592
        ]
      }
    ],
    "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."
    }
  }
}