{
  "ticker": {
    "uuid": "f8262606-32b1-4631-8017-9b8abbaaa0f9",
    "symbol": "WNDU",
    "name": "State Street SPDR MSCI World Industrials UCITS ETF USD Acc",
    "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": 81.197,
    "architecture_regime": "upward_expansion",
    "architecture_regime_label": "Upward Expansion",
    "architecture_modifier": "Established expansion",
    "architecture_gate": "up",
    "architecture_direction": 74.602,
    "architecture_energy": 44.691,
    "architecture_maturity": 43.421,
    "architecture_confidence": 66.537,
    "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": 22.79,
        "rotation_up": 51.56,
        "upward_expansion": 75.95,
        "deceleration": 63.23,
        "rotation_down": 22.61,
        "downward_expansion": 4.95
      },
      "activity_lines": [
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        96.295398
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      "activity_state": "Moderate",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": 0.5
    },
    "latest_close": 101.055,
    "trend_reference": 95.241834,
    "distance_from_trend": 0.061036,
    "trend_direction": "Improving",
    "fair_value": 75.046475,
    "distance_from_fair_value": 0.346566,
    "fair_value_direction": "Weakening",
    "relative_strength": 2.842196,
    "relative_strength_direction": "Weakening",
    "price_momentum": 0.063961,
    "excess_performance": 0.012726,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.061036,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.044908,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.346566,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.003971,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.028422,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.025532,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.063961,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": false,
        "value": 0.386076,
        "read": "Supply-led"
      }
    ],
    "volume": {
      "latest": 6976,
      "relative_activity": 0.657989,
      "balance": 0.386076,
      "dry_up": 0.725571,
      "accumulation_observations": 0,
      "distribution_observations": 3
    },
    "risk": {
      "range_context": 0.025199,
      "annualized_volatility": 0.164753,
      "from_high_reference": -0.010816,
      "from_low_reference": 0.249135
    },
    "levels": {
      "trend_reference": 95.241834,
      "fair_value_reference": 75.046475,
      "structural_low": 86.278099,
      "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": 41,
        "median_return": 0.006741,
        "positive_rate": 0.682927,
        "directional_follow_through": 0.682927,
        "median_excess_return": 0.001835,
        "regime_survival": 0.731707,
        "best_return": 0.06955,
        "worst_return": -0.110195,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 14,
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        "directional_follow_through": 0.714286,
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        "worst_return": -0.070802,
        "sufficient": true
      },
      {
        "horizon": "Extended",
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        "directional_follow_through": 0.857143,
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        "worst_return": -0.019638,
        "sufficient": true
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      {
        "horizon": "Full cycle",
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        "worst_return": -0.162123,
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        "regime": "rotation_down",
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      },
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        "date": "2026-05-01",
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        "fair_value": 71.313654,
        "relative_strength": 3.607467,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
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      {
        "date": "2026-05-08",
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      },
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        "relative_strength": 3.675893,
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      },
      {
        "date": "2026-05-22",
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        "relative_strength": 1.487029,
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      },
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        "typical_volume": 21430.1,
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        "date": "2026-06-05",
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        "relative_strength": 2.847238,
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        "date": "2026-06-12",
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        "relative_strength": 1.530855,
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      },
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        "date": "2026-06-26",
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        "relative_strength": 2.926969,
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        "energy": 45.212388,
        "activity_lines": [
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      },
      {
        "date": "2026-07-03",
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        "relative_strength": 3.659959,
        "stage": 2,
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      },
      {
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        "trend": 93.802334,
        "fair_value": 74.00359,
        "relative_strength": 3.242957,
        "stage": 2,
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        "energy": 61.624011,
        "activity_lines": [
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      },
      {
        "date": "2026-07-17",
        "close": 96.639999,
        "volume": 3361,
        "typical_volume": 20652.05,
        "trend": 94.160334,
        "fair_value": 74.252468,
        "relative_strength": 1.164018,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 55.588182,
        "energy": 46.966723,
        "activity_lines": [
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          96.247929,
          95.479699
        ]
      },
      {
        "date": "2026-07-24",
        "close": 97.800003,
        "volume": 6573,
        "typical_volume": 10901.25,
        "trend": 94.532668,
        "fair_value": 74.505802,
        "relative_strength": 1.100038,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 56.763784,
        "energy": 38.221672,
        "activity_lines": [
          97.697002,
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          96.526263,
          95.714517
        ]
      },
      {
        "date": "2026-07-31",
        "close": 97.360001,
        "volume": 13860,
        "typical_volume": 11088.9,
        "trend": 94.878667,
        "fair_value": 74.762308,
        "relative_strength": -0.582117,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 50.395057,
        "energy": 28.73499,
        "activity_lines": [
          97.533335,
          97.526365,
          96.739215,
          95.896925
        ]
      },
      {
        "date": "2026-08-07",
        "close": 101.055,
        "volume": 6976,
        "typical_volume": 10602.0,
        "trend": 95.241834,
        "fair_value": 75.046475,
        "relative_strength": 2.842196,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 74.601655,
        "energy": 44.691134,
        "activity_lines": [
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          96.295398
        ]
      }
    ],
    "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."
    }
  }
}