{
  "ticker": {
    "uuid": "c8caf296-9092-415a-8ed6-70ce76a0f5b6",
    "symbol": "XDWT",
    "name": "Xtrackers MSCI World Information Technology UCITS ETF 1C",
    "exchange": "GER",
    "country": "DE",
    "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": "^GDAXI",
    "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": 72.199,
    "architecture_energy": 44.419,
    "architecture_maturity": 72.042,
    "architecture_confidence": 95.463,
    "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": 30.04,
        "rotation_up": 39.57,
        "upward_expansion": 66.49,
        "deceleration": 94.22,
        "rotation_down": 29.31,
        "downward_expansion": 15.82
      },
      "activity_lines": [
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        119.63419,
        114.820386
      ],
      "activity_state": "Moderate",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": 0.333333
    },
    "latest_close": 126.480003,
    "trend_reference": 108.921999,
    "distance_from_trend": 0.161198,
    "trend_direction": "Improving",
    "fair_value": 86.425641,
    "distance_from_fair_value": 0.463455,
    "fair_value_direction": "Improving",
    "relative_strength": 12.009223,
    "relative_strength_direction": "Weakening",
    "price_momentum": 0.314898,
    "excess_performance": 0.250258,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.161198,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.070609,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.463455,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.051014,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.120092,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.06008,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.314898,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 2.278449,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 263459,
      "relative_activity": 1.803741,
      "balance": 2.278449,
      "dry_up": 1.395508,
      "accumulation_observations": 6,
      "distribution_observations": 2
    },
    "risk": {
      "range_context": 0.043339,
      "annualized_volatility": 0.243084,
      "from_high_reference": -0.001894,
      "from_low_reference": 0.409405
    },
    "levels": {
      "trend_reference": 108.921999,
      "fair_value_reference": 86.425641,
      "structural_low": 89.739998,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 9,
        "median_return": 0.020102,
        "positive_rate": 0.555556,
        "directional_follow_through": 0.555556,
        "median_excess_return": 0.013092,
        "regime_survival": 0.444444,
        "best_return": 0.101006,
        "worst_return": -0.030649,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 5,
        "median_return": 0.097006,
        "positive_rate": 0.8,
        "directional_follow_through": 0.8,
        "median_excess_return": 0.08288,
        "regime_survival": 0.0,
        "best_return": 0.17297,
        "worst_return": -0.045802,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 4,
        "median_return": 0.199855,
        "positive_rate": 0.75,
        "directional_follow_through": 0.75,
        "median_excess_return": 0.148784,
        "regime_survival": 0.0,
        "best_return": 0.290604,
        "worst_return": -0.019044,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
        "sample_count": 3,
        "median_return": 0.153465,
        "positive_rate": 0.666667,
        "directional_follow_through": 0.666667,
        "median_excess_return": 0.047745,
        "regime_survival": 0.333333,
        "best_return": 0.440542,
        "worst_return": -0.154313,
        "sufficient": false
      }
    ],
    "ledger": [
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        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2024-05-24",
        "end": "2024-08-02",
        "tenure": "Developing",
        "return": -0.018743,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2024-08-09",
        "end": "2024-10-11",
        "tenure": "Developing",
        "return": 0.120867,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2024-10-18",
        "end": "2025-02-28",
        "tenure": "Established",
        "return": 0.01726,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2025-03-07",
        "end": "2025-04-04",
        "tenure": "Developing",
        "return": -0.142768,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2025-04-11",
        "end": "2025-05-30",
        "tenure": "Developing",
        "return": 0.179385,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-06-06",
        "end": "2025-06-27",
        "tenure": "New",
        "return": 0.027309,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
        "start": "2025-07-04",
        "end": "2025-08-08",
        "tenure": "Developing",
        "return": 0.060761,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-08-15",
        "end": "2025-11-28",
        "tenure": "Established",
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        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
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        "end": "2026-02-13",
        "tenure": "Developing",
        "return": -0.072617,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2026-02-20",
        "end": "2026-03-20",
        "tenure": "Developing",
        "return": -0.029749,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2026-03-27",
        "end": "2026-04-24",
        "tenure": "Developing",
        "return": 0.186511,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
        "start": "2026-05-01",
        "end": "2026-05-08",
        "tenure": "New",
        "return": 0.076056,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
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        "end": "2026-07-17",
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        "return": 0.002025,
        "active": false
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      {
        "regime": "deceleration",
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        "color": "amber",
        "start": "2026-07-24",
        "end": "2026-08-07",
        "tenure": "New",
        "return": 0.046673,
        "active": true
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    ],
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        "modifier": "Early contraction",
        "gate": "mixed",
        "direction": 40.007667,
        "energy": 38.776909,
        "activity_lines": [
          102.058666,
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          98.094952,
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      },
      {
        "date": "2026-05-01",
        "close": 106.5,
        "volume": 185627,
        "typical_volume": 285751.35,
        "trend": 99.361999,
        "fair_value": 80.736154,
        "relative_strength": 10.61116,
        "stage": 2,
        "regime": "rotation_up",
        "modifier": "Structural repair",
        "gate": "mixed",
        "direction": 35.052327,
        "energy": 56.159337,
        "activity_lines": [
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      },
      {
        "date": "2026-05-08",
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        "typical_volume": 286398.35,
        "trend": 99.861,
        "fair_value": 81.136154,
        "relative_strength": 18.017226,
        "stage": 2,
        "regime": "rotation_up",
        "modifier": "Value reclamation",
        "gate": "up",
        "direction": 89.875829,
        "energy": 91.091092,
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      },
      {
        "date": "2026-05-15",
        "close": 118.540001,
        "volume": 226906,
        "typical_volume": 292148.65,
        "trend": 100.528333,
        "fair_value": 81.546026,
        "relative_strength": 23.244238,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 91.611149,
        "energy": 96.261411,
        "activity_lines": [
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      },
      {
        "date": "2026-05-22",
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        "typical_volume": 293638.05,
        "trend": 101.160333,
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        "relative_strength": 19.646033,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 87.625013,
        "energy": 94.964754,
        "activity_lines": [
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        ]
      },
      {
        "date": "2026-05-29",
        "close": 124.300003,
        "volume": 154007,
        "typical_volume": 272459.15,
        "trend": 101.738333,
        "fair_value": 82.375898,
        "relative_strength": 21.611175,
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        "gate": "up",
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        "activity_lines": [
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      },
      {
        "date": "2026-06-05",
        "close": 122.860001,
        "volume": 40037,
        "typical_volume": 227324.05,
        "trend": 102.499667,
        "fair_value": 82.793846,
        "relative_strength": 21.050336,
        "stage": 2,
        "regime": "upward_expansion",
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        "energy": 91.051047,
        "activity_lines": [
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      },
      {
        "date": "2026-06-12",
        "close": 121.239998,
        "volume": 67394,
        "typical_volume": 215551.75,
        "trend": 103.141,
        "fair_value": 83.190321,
        "relative_strength": 19.304961,
        "stage": 2,
        "regime": "upward_expansion",
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        "activity_lines": [
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      },
      {
        "date": "2026-06-19",
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        "volume": 12840,
        "typical_volume": 201348.2,
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        "fair_value": 83.625641,
        "relative_strength": 21.204561,
        "stage": 2,
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        "modifier": "Early expansion",
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        "energy": 85.803028,
        "activity_lines": [
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      },
      {
        "date": "2026-06-26",
        "close": 119.959999,
        "volume": 23785,
        "typical_volume": 183549.35,
        "trend": 104.717,
        "fair_value": 84.013975,
        "relative_strength": 16.452066,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 65.600464,
        "energy": 64.627773,
        "activity_lines": [
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      },
      {
        "date": "2026-07-03",
        "close": 121.779999,
        "volume": 18197,
        "typical_volume": 155968.6,
        "trend": 105.370333,
        "fair_value": 84.418846,
        "relative_strength": 12.607102,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
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        "activity_lines": [
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      },
      {
        "date": "2026-07-10",
        "close": 123.559998,
        "volume": 157226,
        "typical_volume": 146540.2,
        "trend": 106.175666,
        "fair_value": 84.831154,
        "relative_strength": 16.834416,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 67.66026,
        "energy": 62.009118,
        "activity_lines": [
          122.501332,
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      },
      {
        "date": "2026-07-17",
        "close": 118.779999,
        "volume": 177856,
        "typical_volume": 143175.35,
        "trend": 106.818666,
        "fair_value": 85.211795,
        "relative_strength": 12.853111,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 48.699082,
        "energy": 46.277201,
        "activity_lines": [
          121.275999,
          121.783272,
          116.966047,
          112.097419
        ]
      },
      {
        "date": "2026-07-24",
        "close": 120.839996,
        "volume": 167309,
        "typical_volume": 139973.5,
        "trend": 107.502666,
        "fair_value": 85.599423,
        "relative_strength": 13.042894,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 47.804121,
        "energy": 43.455083,
        "activity_lines": [
          120.901331,
          121.624362,
          117.896713,
          113.002021
        ]
      },
      {
        "date": "2026-07-31",
        "close": 117.279999,
        "volume": 206702,
        "typical_volume": 140785.75,
        "trend": 108.072666,
        "fair_value": 85.976539,
        "relative_strength": 7.110223,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 42.016332,
        "energy": 32.537188,
        "activity_lines": [
          119.666665,
          120.776362,
          118.377189,
          113.632816
        ]
      },
      {
        "date": "2026-08-07",
        "close": 126.480003,
        "volume": 263459,
        "typical_volume": 146062.55,
        "trend": 108.921999,
        "fair_value": 86.425641,
        "relative_strength": 12.009223,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 72.198887,
        "energy": 44.418772,
        "activity_lines": [
          121.677333,
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          114.820386
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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."
    }
  }
}