{
  "ticker": {
    "uuid": "b54ffc28-e2ec-4cce-a73a-b55f81f30177",
    "symbol": "XSCS",
    "name": "Xtrackers MSCI USA Consumer Staples UCITS ETF 1D",
    "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": 71.756,
    "architecture_regime": "balance",
    "architecture_regime_label": "Balance",
    "architecture_modifier": "Upper balance after advance",
    "architecture_gate": "mixed",
    "architecture_direction": -6.948,
    "architecture_energy": 3.358,
    "architecture_maturity": 19.736,
    "architecture_confidence": 47.901,
    "architecture_tenure": "Developing",
    "architecture": {
      "interpretation": {
        "headline": "Directional pressure has compressed into balance.",
        "body": "Trend and Activity are compressed into balance, so neither side has durable control. Prior structure and the next directional change provide context; balance alone is not assumed to be a base."
      },
      "scores": {
        "balance": 61.45,
        "rotation_up": 26.01,
        "upward_expansion": 28.17,
        "deceleration": 59.48,
        "rotation_down": 39.28,
        "downward_expansion": 26.17
      },
      "activity_lines": [
        3750.133333,
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        3755.004762,
        3755.369375
      ],
      "activity_state": "Compressed",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": -0.5
    },
    "latest_close": 3734.5,
    "trend_reference": 3752.850985,
    "distance_from_trend": -0.00489,
    "trend_direction": "Improving",
    "fair_value": 3516.608859,
    "distance_from_fair_value": 0.061961,
    "fair_value_direction": "Weakening",
    "relative_strength": -5.259098,
    "relative_strength_direction": "Weakening",
    "price_momentum": -0.03305,
    "excess_performance": -0.084285,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": false,
        "value": -0.00489,
        "read": "Below"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.025777,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.061961,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.014896,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.052591,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.035747,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": false,
        "value": -0.03305,
        "read": "Negative"
      },
      {
        "label": "Volume balance",
        "positive": false,
        "value": 0.516409,
        "read": "Supply-led"
      }
    ],
    "volume": {
      "latest": 14403,
      "relative_activity": 1.00909,
      "balance": 0.516409,
      "dry_up": 0.900741,
      "accumulation_observations": 1,
      "distribution_observations": 4
    },
    "risk": {
      "range_context": 0.035042,
      "annualized_volatility": 0.161781,
      "from_high_reference": -0.063714,
      "from_low_reference": 0.103841
    },
    "levels": {
      "trend_reference": 3752.850985,
      "fair_value_reference": 3516.608859,
      "structural_low": 3576.5,
      "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": 13,
        "median_return": -0.012924,
        "positive_rate": 0.384615,
        "directional_follow_through": 0.384615,
        "median_excess_return": -0.022799,
        "regime_survival": 0.615385,
        "best_return": 0.059302,
        "worst_return": -0.034904,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 6,
        "median_return": 0.01148,
        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
        "median_excess_return": -0.003066,
        "regime_survival": 0.333333,
        "best_return": 0.113153,
        "worst_return": -0.044103,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 4,
        "median_return": 0.023133,
        "positive_rate": 0.75,
        "directional_follow_through": 0.75,
        "median_excess_return": -0.024988,
        "regime_survival": 0.25,
        "best_return": 0.103544,
        "worst_return": -0.076196,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
        "sample_count": 2,
        "median_return": 0.051437,
        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
        "median_excess_return": -0.004728,
        "regime_survival": 0.0,
        "best_return": 0.166247,
        "worst_return": -0.063374,
        "sufficient": false
      }
    ],
    "ledger": [
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        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
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        "end": "2024-02-23",
        "tenure": "Developing",
        "return": 0.028295,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2024-03-01",
        "end": "2024-07-05",
        "tenure": "Established",
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        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
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        "end": "2024-08-02",
        "tenure": "New",
        "return": 0.020252,
        "active": false
      },
      {
        "regime": "upward_expansion",
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        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
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        "end": "2025-02-07",
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        "return": 0.039896,
        "active": false
      },
      {
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      {
        "regime": "deceleration",
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        "color": "amber",
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        "end": "2025-04-04",
        "tenure": "New",
        "return": 0.000416,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
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        "end": "2025-05-02",
        "tenure": "New",
        "return": 0.010695,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2025-05-09",
        "end": "2025-11-21",
        "tenure": "Extended",
        "return": -0.015079,
        "active": false
      },
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        "regime": "balance",
        "label": "Balance",
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        "active": false
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      },
      {
        "date": "2026-03-27",
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      {
        "date": "2026-04-03",
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      {
        "date": "2026-04-10",
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      {
        "date": "2026-04-17",
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      },
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      {
        "date": "2026-05-08",
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      },
      {
        "date": "2026-05-15",
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        "relative_strength": 2.127837,
        "stage": 2,
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        "modifier": "Re-acceleration watch",
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        "energy": 40.122957,
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      },
      {
        "date": "2026-05-22",
        "close": 3792.5,
        "volume": 10998,
        "typical_volume": 12731.3,
        "trend": 3651.225114,
        "fair_value": 3482.988356,
        "relative_strength": -2.218764,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
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        "energy": 42.162863,
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          3757.95341,
          3716.438026
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      },
      {
        "date": "2026-05-29",
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        "volume": 14041,
        "typical_volume": 13015.15,
        "trend": 3658.54401,
        "fair_value": 3485.389331,
        "relative_strength": -5.013087,
        "stage": 2,
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        "modifier": "Re-accelerating",
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      },
      {
        "date": "2026-06-05",
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        "fair_value": 3488.512914,
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        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
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        "direction": 23.881377,
        "energy": 14.963284,
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          3747.543951,
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      },
      {
        "date": "2026-06-12",
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        "volume": 1401,
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        "fair_value": 3491.859334,
        "relative_strength": -1.800903,
        "stage": 2,
        "regime": "balance",
        "modifier": "Upper balance after advance",
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        "date": "2026-06-19",
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      },
      {
        "date": "2026-06-26",
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        "relative_strength": -0.35882,
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        "energy": 29.108984,
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      },
      {
        "date": "2026-07-03",
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        "volume": 4356,
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        "trend": 3704.839404,
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        "relative_strength": -3.596415,
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        "energy": 29.072894,
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      },
      {
        "date": "2026-07-10",
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        "volume": 29888,
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        "relative_strength": -3.248598,
        "stage": 2,
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        "energy": 14.194946,
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      },
      {
        "date": "2026-07-17",
        "close": 3807.0,
        "volume": 6674,
        "typical_volume": 13213.15,
        "trend": 3722.819189,
        "fair_value": 3508.490322,
        "relative_strength": -1.396486,
        "stage": 2,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "up",
        "direction": 50.508512,
        "energy": 23.643368,
        "activity_lines": [
          3771.516667,
          3765.668182,
          3754.74881,
          3753.153619
        ]
      },
      {
        "date": "2026-07-24",
        "close": 3746.5,
        "volume": 17620,
        "typical_volume": 13837.55,
        "trend": 3733.888029,
        "fair_value": 3511.090268,
        "relative_strength": -4.004158,
        "stage": 2,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "up",
        "direction": 26.247339,
        "energy": 10.333852,
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          3763.0,
          3761.690909,
          3754.642857,
          3754.681413
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      },
      {
        "date": "2026-07-31",
        "close": 3755.0,
        "volume": 12729,
        "typical_volume": 14363.95,
        "trend": 3744.94856,
        "fair_value": 3513.900053,
        "relative_strength": -4.71723,
        "stage": 3,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "up",
        "direction": 16.463587,
        "energy": 7.39707,
        "activity_lines": [
          3757.216667,
          3761.454545,
          3755.62381,
          3756.043475
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      },
      {
        "date": "2026-08-07",
        "close": 3734.5,
        "volume": 14403,
        "typical_volume": 14273.25,
        "trend": 3752.850985,
        "fair_value": 3516.608859,
        "relative_strength": -5.259098,
        "stage": 3,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "mixed",
        "direction": -6.947523,
        "energy": 3.358296,
        "activity_lines": [
          3750.133333,
          3758.172727,
          3755.004762,
          3755.369375
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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."
    }
  }
}