{
  "ticker": {
    "uuid": "b96781f6-2fc8-4dd5-bd94-0c385a242cb1",
    "symbol": "CWI",
    "name": "STATE STREET SPDR MSCI ACWI EX-US 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": 87.287,
    "architecture_regime": "deceleration",
    "architecture_regime_label": "Deceleration",
    "architecture_modifier": "Recompressing",
    "architecture_gate": "up",
    "architecture_direction": 66.235,
    "architecture_energy": 35.971,
    "architecture_maturity": 34.232,
    "architecture_confidence": 54.832,
    "architecture_tenure": "New",
    "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": 34.91,
        "rotation_up": 42.15,
        "upward_expansion": 70.67,
        "deceleration": 68.5,
        "rotation_down": 26.42,
        "downward_expansion": 8.67
      },
      "activity_lines": [
        40.392667,
        40.313455,
        39.982413,
        39.389518
      ],
      "activity_state": "Compressed",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": 0.5
    },
    "latest_close": 41.27,
    "trend_reference": 38.722066,
    "distance_from_trend": 0.065801,
    "trend_direction": "Improving",
    "fair_value": 30.23561,
    "distance_from_fair_value": 0.364947,
    "fair_value_direction": "Weakening",
    "relative_strength": 0.024671,
    "relative_strength_direction": "Weakening",
    "price_momentum": 0.084763,
    "excess_performance": -0.040862,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.065801,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.046325,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.364947,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.016563,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.000247,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.026179,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.084763,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 1.951612,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 752401,
      "relative_activity": 0.622453,
      "balance": 1.951612,
      "dry_up": 0.965526,
      "accumulation_observations": 2,
      "distribution_observations": 2
    },
    "risk": {
      "range_context": 0.031807,
      "annualized_volatility": 0.189578,
      "from_high_reference": -0.003381,
      "from_low_reference": 0.286699
    },
    "levels": {
      "trend_reference": 38.722066,
      "fair_value_reference": 30.23561,
      "structural_low": 34.852498,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 12,
        "median_return": 0.012915,
        "positive_rate": 0.666667,
        "directional_follow_through": 0.666667,
        "median_excess_return": -0.006245,
        "regime_survival": 0.5,
        "best_return": 0.117713,
        "worst_return": -0.049395,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 5,
        "median_return": 0.037595,
        "positive_rate": 0.8,
        "directional_follow_through": 0.8,
        "median_excess_return": -0.03705,
        "regime_survival": 0.0,
        "best_return": 0.174087,
        "worst_return": -0.03124,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 4,
        "median_return": 0.055465,
        "positive_rate": 0.75,
        "directional_follow_through": 0.75,
        "median_excess_return": -0.082014,
        "regime_survival": 0.0,
        "best_return": 0.069266,
        "worst_return": -0.009375,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
        "sample_count": 3,
        "median_return": 0.111201,
        "positive_rate": 0.666667,
        "directional_follow_through": 0.666667,
        "median_excess_return": -0.090984,
        "regime_survival": 0.0,
        "best_return": 0.17339,
        "worst_return": -0.185844,
        "sufficient": false
      }
    ],
    "ledger": [
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2024-05-17",
        "end": "2024-06-21",
        "tenure": "Developing",
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        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2024-06-28",
        "end": "2024-07-12",
        "tenure": "New",
        "return": 0.042741,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2024-07-19",
        "end": "2024-11-01",
        "tenure": "Established",
        "return": 0.01925,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2024-11-08",
        "end": "2025-01-03",
        "tenure": "Developing",
        "return": -0.029536,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2025-01-10",
        "end": "2025-01-24",
        "tenure": "New",
        "return": 0.046688,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
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        "end": "2025-02-14",
        "tenure": "New",
        "return": 0.035033,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
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        "end": "2025-03-14",
        "tenure": "New",
        "return": 0.010385,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
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        "end": "2025-03-28",
        "tenure": "New",
        "return": -0.014229,
        "active": false
      },
      {
        "regime": "rotation_down",
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        "tenure": "New",
        "return": 0.041392,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
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        "tenure": "New",
        "return": 0.061512,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
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        "active": false
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      {
        "regime": "deceleration",
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        "active": true
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      },
      {
        "date": "2026-07-03",
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      },
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      },
      {
        "date": "2026-07-17",
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        "typical_volume": 1275352.85,
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        "fair_value": 29.925186,
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        "stage": 2,
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        "modifier": "Re-accelerating",
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        "direction": 43.564948,
        "energy": 29.039341,
        "activity_lines": [
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      },
      {
        "date": "2026-07-24",
        "close": 39.65,
        "volume": 922606,
        "typical_volume": 1244617.2,
        "trend": 38.427736,
        "fair_value": 30.020129,
        "relative_strength": 0.76032,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 39.103847,
        "energy": 23.923733,
        "activity_lines": [
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        ]
      },
      {
        "date": "2026-07-31",
        "close": 40.25,
        "volume": 1528951,
        "typical_volume": 1238335.3,
        "trend": 38.566468,
        "fair_value": 30.124041,
        "relative_strength": 1.0602,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 40.796705,
        "energy": 23.606989,
        "activity_lines": [
          39.981333,
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        ]
      },
      {
        "date": "2026-08-07",
        "close": 41.27,
        "volume": 752401,
        "typical_volume": 1208768.25,
        "trend": 38.722066,
        "fair_value": 30.23561,
        "relative_strength": 0.024671,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 66.235191,
        "energy": 35.971491,
        "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."
    }
  }
}