{
  "ticker": {
    "uuid": "a5dfa83e-f576-484b-a847-98cb269bbeb9",
    "symbol": "FITE",
    "name": "STATE STREET SPDR S&P KENSHO FUTURE SECURITY ETF",
    "exchange": "NYSEARCA",
    "country": "US",
    "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": "SPY",
    "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": "deceleration",
    "architecture_regime_label": "Deceleration",
    "architecture_modifier": "Recompressing",
    "architecture_gate": "up",
    "architecture_direction": 71.684,
    "architecture_energy": 41.944,
    "architecture_maturity": 49.78,
    "architecture_confidence": 65.48,
    "architecture_tenure": "Developing",
    "architecture": {
      "interpretation": {
        "headline": "The upward structure remains, but its energy is decelerating.",
        "body": "Trend remains positive, but Activity or price acceptance is losing strength. This can become a healthy recompression, a re-acceleration, or a Rotation Down."
      },
      "scores": {
        "balance": 31.82,
        "rotation_up": 44.94,
        "upward_expansion": 76.28,
        "deceleration": 69.37,
        "rotation_down": 26.7,
        "downward_expansion": 5.28
      },
      "activity_lines": [
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        109.386646,
        107.145908,
        103.239193
      ],
      "activity_state": "Moderate",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": 0.5
    },
    "latest_close": 115.9313,
    "trend_reference": 98.858183,
    "distance_from_trend": 0.172703,
    "trend_direction": "Improving",
    "fair_value": 70.919856,
    "distance_from_fair_value": 0.63468,
    "fair_value_direction": "Improving",
    "relative_strength": 11.783096,
    "relative_strength_direction": "Improving",
    "price_momentum": 0.299484,
    "excess_performance": 0.173859,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.172703,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.086214,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.63468,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.125076,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.117831,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.063466,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.299484,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": false,
        "value": 0.716397,
        "read": "Supply-led"
      }
    ],
    "volume": {
      "latest": 37925,
      "relative_activity": 0.864804,
      "balance": 0.716397,
      "dry_up": 0.904898,
      "accumulation_observations": 1,
      "distribution_observations": 1
    },
    "risk": {
      "range_context": 0.060629,
      "annualized_volatility": 0.28161,
      "from_high_reference": -0.022402,
      "from_low_reference": 0.52632
    },
    "levels": {
      "trend_reference": 98.858183,
      "fair_value_reference": 70.919856,
      "structural_low": 81.86,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 17,
        "median_return": 0.007198,
        "positive_rate": 0.529412,
        "directional_follow_through": 0.529412,
        "median_excess_return": 0.004944,
        "regime_survival": 0.588235,
        "best_return": 0.161483,
        "worst_return": -0.047104,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 8,
        "median_return": 0.053664,
        "positive_rate": 0.875,
        "directional_follow_through": 0.875,
        "median_excess_return": 0.028382,
        "regime_survival": 0.25,
        "best_return": 0.32422,
        "worst_return": -0.10874,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 5,
        "median_return": 0.15868,
        "positive_rate": 0.8,
        "directional_follow_through": 0.8,
        "median_excess_return": 0.016978,
        "regime_survival": 0.0,
        "best_return": 0.407355,
        "worst_return": -0.106139,
        "sufficient": true
      },
      {
        "horizon": "Full cycle",
        "sample_count": 3,
        "median_return": 0.269407,
        "positive_rate": 0.666667,
        "directional_follow_through": 0.666667,
        "median_excess_return": -0.026217,
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        "best_return": 0.423086,
        "worst_return": -0.104342,
        "sufficient": false
      }
    ],
    "ledger": [
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        "regime": "upward_expansion",
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        "color": "green",
        "start": "2023-12-08",
        "end": "2024-04-05",
        "tenure": "Established",
        "return": 0.072033,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2024-04-12",
        "end": "2024-07-12",
        "tenure": "Established",
        "return": 0.056384,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2024-07-19",
        "end": "2025-01-10",
        "tenure": "Established",
        "return": 0.165706,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2025-01-17",
        "end": "2025-01-24",
        "tenure": "New",
        "return": 0.037506,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
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        "end": "2025-03-21",
        "tenure": "Developing",
        "return": -0.079813,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2025-03-28",
        "end": "2025-04-18",
        "tenure": "New",
        "return": -0.041669,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2025-04-25",
        "end": "2025-05-23",
        "tenure": "Developing",
        "return": 0.076456,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
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        "tenure": "Developing",
        "return": 0.089958,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-07-04",
        "end": "2025-11-21",
        "tenure": "Established",
        "return": 0.032948,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
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        "return": 0.123233,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
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        "active": false
      },
      {
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      {
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        "active": true
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        "typical_volume": 53991.65,
        "trend": 88.324549,
        "fair_value": 65.151177,
        "relative_strength": 2.680071,
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        "modifier": "Momentum cooling",
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        "activity_lines": [
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      },
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        "date": "2026-05-01",
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        "relative_strength": 3.511721,
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        "modifier": "Re-acceleration watch",
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        "activity_lines": [
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      },
      {
        "date": "2026-05-08",
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        "typical_volume": 55094.95,
        "trend": 88.961623,
        "fair_value": 65.828482,
        "relative_strength": 5.436539,
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        "regime": "upward_expansion",
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      },
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        "date": "2026-05-15",
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        "typical_volume": 55498.05,
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        "relative_strength": 6.281273,
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      },
      {
        "date": "2026-05-22",
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        "typical_volume": 55580.9,
        "trend": 90.062502,
        "fair_value": 66.572372,
        "relative_strength": 12.898399,
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        "modifier": "Re-accelerating",
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        "direction": 91.383829,
        "energy": 90.889959,
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      },
      {
        "date": "2026-05-29",
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        "typical_volume": 50811.05,
        "trend": 91.011682,
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      },
      {
        "date": "2026-06-05",
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        "trend": 91.787333,
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        "relative_strength": 13.958589,
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      },
      {
        "date": "2026-06-12",
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        "typical_volume": 50539.55,
        "trend": 92.642391,
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        "relative_strength": 12.310657,
        "stage": 2,
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        "modifier": "Re-accelerating",
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      },
      {
        "date": "2026-06-19",
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        "activity_lines": [
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      },
      {
        "date": "2026-06-26",
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        "volume": 38898,
        "typical_volume": 50054.3,
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        "fair_value": 68.547014,
        "relative_strength": 10.069395,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 58.577228,
        "energy": 48.705496,
        "activity_lines": [
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      },
      {
        "date": "2026-07-03",
        "close": 112.6874,
        "volume": 32548,
        "typical_volume": 48458.0,
        "trend": 95.239655,
        "fair_value": 68.964283,
        "relative_strength": 14.667259,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
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        "direction": 71.406023,
        "energy": 51.572337,
        "activity_lines": [
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          102.572066,
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      },
      {
        "date": "2026-07-10",
        "close": 110.21,
        "volume": 38043,
        "typical_volume": 48696.35,
        "trend": 96.044156,
        "fair_value": 69.362111,
        "relative_strength": 10.25485,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 60.309344,
        "energy": 46.027667,
        "activity_lines": [
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          100.133707
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      },
      {
        "date": "2026-07-17",
        "close": 107.5,
        "volume": 39424,
        "typical_volume": 48739.25,
        "trend": 96.774311,
        "fair_value": 69.739166,
        "relative_strength": 8.926948,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 47.038941,
        "energy": 39.010464,
        "activity_lines": [
          108.943741,
          109.005058,
          104.575746,
          100.872794
        ]
      },
      {
        "date": "2026-07-24",
        "close": 106.4406,
        "volume": 40912,
        "typical_volume": 47820.4,
        "trend": 97.440222,
        "fair_value": 70.109231,
        "relative_strength": 8.166979,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 46.007161,
        "energy": 37.374023,
        "activity_lines": [
          108.244447,
          108.605593,
          105.206738,
          101.496426
        ]
      },
      {
        "date": "2026-07-31",
        "close": 106.63,
        "volume": 40472,
        "typical_volume": 44433.4,
        "trend": 98.108177,
        "fair_value": 70.483902,
        "relative_strength": 6.862588,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 41.569488,
        "energy": 28.351017,
        "activity_lines": [
          107.634653,
          108.135469,
          105.777585,
          102.089315
        ]
      },
      {
        "date": "2026-08-07",
        "close": 115.9313,
        "volume": 37925,
        "typical_volume": 43853.85,
        "trend": 98.858183,
        "fair_value": 70.919856,
        "relative_strength": 11.783096,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 71.684213,
        "energy": 41.943868,
        "activity_lines": [
          110.04722,
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          103.239193
        ]
      }
    ],
    "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."
    }
  }
}