{
  "ticker": {
    "uuid": "d51ebf9c-1c28-40c2-8726-fd2feecd1f90",
    "symbol": "XLIS",
    "name": "Invesco Industrials S&P US Select Sector UCITS ETF",
    "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": 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": "upward_expansion",
    "architecture_regime_label": "Upward Expansion",
    "architecture_modifier": "Established expansion",
    "architecture_gate": "up",
    "architecture_direction": 71.504,
    "architecture_energy": 47.684,
    "architecture_maturity": 65.984,
    "architecture_confidence": 66.914,
    "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": 16.69,
        "rotation_up": 52.42,
        "upward_expansion": 79.64,
        "deceleration": 68.02,
        "rotation_down": 25.13,
        "downward_expansion": 6.3
      },
      "activity_lines": [
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      "activity_state": "Moderate",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": 0.666667
    },
    "latest_close": 1027.800049,
    "trend_reference": 961.361668,
    "distance_from_trend": 0.069109,
    "trend_direction": "Improving",
    "fair_value": 761.090901,
    "distance_from_fair_value": 0.35043,
    "fair_value_direction": "Improving",
    "relative_strength": 4.059777,
    "relative_strength_direction": "Weakening",
    "price_momentum": 0.080246,
    "excess_performance": 0.029011,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.069109,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.054462,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.35043,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.02436,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.040598,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.006867,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.080246,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": false,
        "value": 0.54109,
        "read": "Supply-led"
      }
    ],
    "volume": {
      "latest": 1610,
      "relative_activity": 1.346266,
      "balance": 0.54109,
      "dry_up": 1.220002,
      "accumulation_observations": 2,
      "distribution_observations": 4
    },
    "risk": {
      "range_context": 0.028609,
      "annualized_volatility": 0.136726,
      "from_high_reference": -0.014951,
      "from_low_reference": 0.260795
    },
    "levels": {
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      "fair_value_reference": 761.090901,
      "structural_low": 871.400024,
      "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": 38,
        "median_return": 0.003824,
        "positive_rate": 0.552632,
        "directional_follow_through": 0.552632,
        "median_excess_return": -0.006238,
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        "worst_return": -0.064499,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
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        "worst_return": -0.056894,
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      {
        "horizon": "Extended",
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        "sufficient": true
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      {
        "horizon": "Full cycle",
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        "regime": "balance",
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      },
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        "date": "2026-04-17",
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      },
      {
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      },
      {
        "date": "2026-07-03",
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      },
      {
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      },
      {
        "date": "2026-07-17",
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        "modifier": "Re-accelerating",
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      },
      {
        "date": "2026-07-24",
        "close": 1017.799988,
        "volume": 1324,
        "typical_volume": 1160.5,
        "trend": 952.723334,
        "fair_value": 755.615388,
        "relative_strength": 4.721759,
        "stage": 2,
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        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 70.212986,
        "energy": 61.549711,
        "activity_lines": [
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      },
      {
        "date": "2026-07-31",
        "close": 993.349976,
        "volume": 1990,
        "typical_volume": 1168.7,
        "trend": 956.871665,
        "fair_value": 758.235644,
        "relative_strength": 0.943864,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 58.671212,
        "energy": 43.003926,
        "activity_lines": [
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      },
      {
        "date": "2026-08-07",
        "close": 1027.800049,
        "volume": 1610,
        "typical_volume": 1195.9,
        "trend": 961.361668,
        "fair_value": 761.090901,
        "relative_strength": 4.059777,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
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        "energy": 47.683657,
        "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."
    }
  }
}