{
  "ticker": {
    "uuid": "a289e3c0-dc2b-4c05-a318-300bf8bfa266",
    "symbol": "XSTR",
    "name": "Xtrackers II GBP Overnight Rate Swap UCITS ETF 1D",
    "exchange": "MIL",
    "country": "IT",
    "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": "FTSEMIB.MI",
    "stage": 3,
    "stage_name": "Distribution",
    "phase": "3b",
    "phase_label": "Stage 3B \u00b7 Distribution",
    "transition": "stage_3_churning",
    "transition_label": "Stage 3 range intact",
    "confidence": 95.526,
    "architecture_regime": "upward_expansion",
    "architecture_regime_label": "Upward Expansion",
    "architecture_modifier": "Established expansion",
    "architecture_gate": "up",
    "architecture_direction": 66.552,
    "architecture_energy": 66.97,
    "architecture_maturity": 59.318,
    "architecture_confidence": 55.358,
    "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": 8.4,
        "rotation_up": 73.73,
        "upward_expansion": 85.33,
        "deceleration": 66.96,
        "rotation_down": 11.86,
        "downward_expansion": 12.0
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      "activity_lines": [
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      "activity_state": "Wide",
      "activity_direction": "Contracting",
      "rotation_direction": "Improving",
      "price_acceptance": 0.666667
    },
    "latest_close": 213.539993,
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    "distance_from_trend": 0.019776,
    "trend_direction": "Improving",
    "fair_value": 201.123788,
    "distance_from_fair_value": 0.061734,
    "fair_value_direction": "Improving",
    "relative_strength": -11.689234,
    "relative_strength_direction": "Weakening",
    "price_momentum": 0.032268,
    "excess_performance": -0.138624,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.019776,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.014726,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.061734,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.00755,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.116892,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.012359,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.032268,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": false,
        "value": 0.826305,
        "read": "Supply-led"
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    ],
    "volume": {
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      "relative_activity": 1.418743,
      "balance": 0.826305,
      "dry_up": 1.051827,
      "accumulation_observations": 1,
      "distribution_observations": 3
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    "risk": {
      "range_context": 0.006153,
      "annualized_volatility": 0.035296,
      "from_high_reference": -0.009509,
      "from_low_reference": 0.059847
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    "levels": {
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      "fair_value_reference": 201.123788,
      "structural_low": 205.678492,
      "invalidation": "A decisive breakout above range resistance with renewed RS leadership invalidates the distribution reading; a range-low break confirms deterioration."
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        "sample_count": 41,
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        "directional_follow_through": 0.609756,
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      },
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        "trend": 208.472942,
        "fair_value": 200.573291,
        "relative_strength": -8.94835,
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        "energy": 97.693335,
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      },
      {
        "date": "2026-07-24",
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        "trend": 208.869673,
        "fair_value": 200.760485,
        "relative_strength": -8.292577,
        "stage": 3,
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        "modifier": "Established expansion",
        "gate": "up",
        "direction": 89.260328,
        "energy": 96.050839,
        "activity_lines": [
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      },
      {
        "date": "2026-07-31",
        "close": 213.929993,
        "volume": 404,
        "typical_volume": 318.0,
        "trend": 209.159757,
        "fair_value": 200.94526,
        "relative_strength": -9.26111,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 68.281704,
        "energy": 79.269464,
        "activity_lines": [
          214.514664,
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        ]
      },
      {
        "date": "2026-08-07",
        "close": 213.539993,
        "volume": 464,
        "typical_volume": 327.05,
        "trend": 209.39893,
        "fair_value": 201.123788,
        "relative_strength": -11.689234,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 66.552273,
        "energy": 66.970481,
        "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."
    }
  }
}