{
  "ticker": {
    "uuid": "a5e36d10-8eb7-4103-937b-e804bbae3d59",
    "symbol": "DGT",
    "name": "STATE STREET SPDR GLOBAL DOW 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": 89.749,
    "architecture_regime": "upward_expansion",
    "architecture_regime_label": "Upward Expansion",
    "architecture_modifier": "Established expansion",
    "architecture_gate": "up",
    "architecture_direction": 83.433,
    "architecture_energy": 72.506,
    "architecture_maturity": 37.876,
    "architecture_confidence": 86.235,
    "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": 17.73,
        "rotation_up": 66.22,
        "upward_expansion": 90.15,
        "deceleration": 44.94,
        "rotation_down": 20.79,
        "downward_expansion": 14.48
      },
      "activity_lines": [
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        184.82714,
        182.235311
      ],
      "activity_state": "Moderate",
      "activity_direction": "Expanding",
      "rotation_direction": "Weakening",
      "price_acceptance": 0.833333
    },
    "latest_close": 191.8706,
    "trend_reference": 179.203417,
    "distance_from_trend": 0.070686,
    "trend_direction": "Improving",
    "fair_value": 140.088375,
    "distance_from_fair_value": 0.36964,
    "fair_value_direction": "Weakening",
    "relative_strength": -0.031025,
    "relative_strength_direction": "Weakening",
    "price_momentum": 0.081584,
    "excess_performance": -0.044041,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.070686,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.041502,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.36964,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.003014,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.00031,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.009523,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.081584,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 2.067124,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 68708,
      "relative_activity": 0.959921,
      "balance": 2.067124,
      "dry_up": 0.652052,
      "accumulation_observations": 2,
      "distribution_observations": 1
    },
    "risk": {
      "range_context": 0.020086,
      "annualized_volatility": 0.132769,
      "from_high_reference": -0.000101,
      "from_low_reference": 0.279455
    },
    "levels": {
      "trend_reference": 179.203417,
      "fair_value_reference": 140.088375,
      "structural_low": 164.428846,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
    },
    "outcomes": [
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        "horizon": "Near term",
        "sample_count": 41,
        "median_return": 0.012705,
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        "directional_follow_through": 0.609756,
        "median_excess_return": -0.001885,
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        "best_return": 0.084542,
        "worst_return": -0.118831,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
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        "worst_return": -0.076496,
        "sufficient": true
      },
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        "horizon": "Extended",
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        "sufficient": true
      },
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        "horizon": "Full cycle",
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        "regime": "deceleration",
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        "regime": "balance",
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        "date": "2026-04-24",
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      },
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      },
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      },
      {
        "date": "2026-05-22",
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      },
      {
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        "typical_volume": 94173.0,
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      },
      {
        "date": "2026-06-05",
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        "relative_strength": 0.547006,
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      },
      {
        "date": "2026-06-12",
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        "relative_strength": 2.124244,
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      },
      {
        "date": "2026-06-19",
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      },
      {
        "date": "2026-06-26",
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        "direction": 59.39556,
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        "activity_lines": [
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      },
      {
        "date": "2026-07-03",
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        "typical_volume": 85662.2,
        "trend": 175.859266,
        "fair_value": 137.5235,
        "relative_strength": 0.32902,
        "stage": 2,
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        "modifier": "Re-accelerating",
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        "activity_lines": [
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      },
      {
        "date": "2026-07-10",
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        "typical_volume": 80709.55,
        "trend": 176.539121,
        "fair_value": 138.031793,
        "relative_strength": -0.589756,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
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        "direction": 61.844915,
        "energy": 43.256598,
        "activity_lines": [
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      },
      {
        "date": "2026-07-17",
        "close": 184.1719,
        "volume": 28293,
        "typical_volume": 78145.05,
        "trend": 177.160242,
        "fair_value": 138.523672,
        "relative_strength": 0.090522,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 47.205855,
        "energy": 34.291928,
        "activity_lines": [
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      },
      {
        "date": "2026-07-24",
        "close": 185.39,
        "volume": 28708,
        "typical_volume": 73171.85,
        "trend": 177.76458,
        "fair_value": 139.015167,
        "relative_strength": 1.26105,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 59.598396,
        "energy": 40.018948,
        "activity_lines": [
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      },
      {
        "date": "2026-07-31",
        "close": 187.6684,
        "volume": 60978,
        "typical_volume": 72569.2,
        "trend": 178.456161,
        "fair_value": 139.538501,
        "relative_strength": 1.285812,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 68.468617,
        "energy": 46.516595,
        "activity_lines": [
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      },
      {
        "date": "2026-08-07",
        "close": 191.8706,
        "volume": 68708,
        "typical_volume": 71576.7,
        "trend": 179.203417,
        "fair_value": 140.088375,
        "relative_strength": -0.031025,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 83.433215,
        "energy": 72.50618,
        "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."
    }
  }
}