{
  "ticker": {
    "uuid": "f0ec0756-1df6-436d-b353-3a3a3811392c",
    "symbol": "IYW",
    "name": "iShares U.S. Technology ETF",
    "exchange": "MEX",
    "country": "MX",
    "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": "^MXX",
    "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": 62.048,
    "architecture_energy": 38.686,
    "architecture_maturity": 70.809,
    "architecture_confidence": 91.397,
    "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": 24.21,
        "rotation_up": 36.28,
        "upward_expansion": 65.17,
        "deceleration": 85.5,
        "rotation_down": 27.96,
        "downward_expansion": 24.17
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      "activity_lines": [
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      "activity_state": "Moderate",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": 0.5
    },
    "latest_close": 4355.009766,
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    "distance_from_trend": 0.147618,
    "trend_direction": "Improving",
    "fair_value": 3003.568062,
    "distance_from_fair_value": 0.449945,
    "fair_value_direction": "Weakening",
    "relative_strength": 15.087459,
    "relative_strength_direction": "Improving",
    "price_momentum": 0.309016,
    "excess_performance": 0.363683,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.147618,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.059002,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.449945,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.002205,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.150875,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.085813,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.309016,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 37.287204,
        "read": "Demand-led"
      }
    ],
    "volume": {
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      "relative_activity": 0.609582,
      "balance": 37.287204,
      "dry_up": 0.428029,
      "accumulation_observations": 2,
      "distribution_observations": 0
    },
    "risk": {
      "range_context": 0.032045,
      "annualized_volatility": 0.215514,
      "from_high_reference": -0.006775,
      "from_low_reference": 0.362005
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    "levels": {
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      "fair_value_reference": 3003.568062,
      "structural_low": 3197.5,
      "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",
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        "positive_rate": 0.6,
        "directional_follow_through": 0.6,
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        "worst_return": -0.05124,
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        "horizon": "Intermediate",
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        "horizon": "Extended",
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        "horizon": "Full cycle",
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      },
      {
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      },
      {
        "date": "2026-07-24",
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        "volume": 1888,
        "typical_volume": 15633.0,
        "trend": 3752.721867,
        "fair_value": 2972.671603,
        "relative_strength": 10.25571,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
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        "energy": 50.578593,
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      },
      {
        "date": "2026-07-31",
        "close": 4120.0,
        "volume": 161,
        "typical_volume": 2403.85,
        "trend": 3769.099797,
        "fair_value": 2987.189002,
        "relative_strength": 9.11387,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 43.228504,
        "energy": 34.272584,
        "activity_lines": [
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      },
      {
        "date": "2026-08-07",
        "close": 4355.009766,
        "volume": 1453,
        "typical_volume": 2383.6,
        "trend": 3794.82583,
        "fair_value": 3003.568062,
        "relative_strength": 15.087459,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
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        "energy": 38.686276,
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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."
    }
  }
}