{
  "ticker": {
    "uuid": "f8dc3ac0-38ae-4929-ad54-226826084696",
    "symbol": "XLRE",
    "name": "SELECT SECTOR SPDR TRUST STATE STREET REAL ESTATE SELECT SECTOR S",
    "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": 61.393,
    "architecture_regime": "upward_expansion",
    "architecture_regime_label": "Upward Expansion",
    "architecture_modifier": "Established expansion",
    "architecture_gate": "up",
    "architecture_direction": 54.824,
    "architecture_energy": 39.786,
    "architecture_maturity": 35.354,
    "architecture_confidence": 66.238,
    "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": 20.79,
        "rotation_up": 51.86,
        "upward_expansion": 75.8,
        "deceleration": 58.84,
        "rotation_down": 19.27,
        "downward_expansion": 4.8
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      "activity_lines": [
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        44.020809
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      "activity_state": "Moderate",
      "activity_direction": "Stable",
      "rotation_direction": "Stable",
      "price_acceptance": 0.5
    },
    "latest_close": 44.98,
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    "distance_from_trend": 0.037797,
    "trend_direction": "Improving",
    "fair_value": 39.235236,
    "distance_from_fair_value": 0.146419,
    "fair_value_direction": "Weakening",
    "relative_strength": -4.989211,
    "relative_strength_direction": "Improving",
    "price_momentum": 0.078356,
    "excess_performance": -0.047269,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.037797,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.036729,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.146419,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.001895,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.049892,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.001042,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.078356,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": false,
        "value": 0.79803,
        "read": "Supply-led"
      }
    ],
    "volume": {
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      "dry_up": 0.903105,
      "accumulation_observations": 1,
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    "risk": {
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      "annualized_volatility": 0.167707,
      "from_high_reference": -0.031751,
      "from_low_reference": 0.13984
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    "levels": {
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      "fair_value_reference": 39.235236,
      "structural_low": 39.9402,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
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    "outcomes": [
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        "horizon": "Near term",
        "sample_count": 26,
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        "directional_follow_through": 0.5,
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      },
      {
        "horizon": "Intermediate",
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        "horizon": "Extended",
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      },
      {
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      },
      {
        "date": "2026-07-24",
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        "typical_volume": 28855160.7,
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        "fair_value": 39.092834,
        "relative_strength": 1.224888,
        "stage": 2,
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        "modifier": "Established expansion",
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      },
      {
        "date": "2026-07-31",
        "close": 45.07,
        "volume": 29111137,
        "typical_volume": 28168370.7,
        "trend": 43.183513,
        "fair_value": 39.165258,
        "relative_strength": -1.631494,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 57.059401,
        "energy": 43.332842,
        "activity_lines": [
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      },
      {
        "date": "2026-08-07",
        "close": 44.98,
        "volume": 28611184,
        "typical_volume": 27271133.3,
        "trend": 43.341796,
        "fair_value": 39.235236,
        "relative_strength": -4.989211,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
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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."
    }
  }
}