{
  "meta": {
    "generated_at": "2026-04-01T04:49:27.678344Z",
    "data_range": "2019-01-02 to 2026-03-27",
    "n_trading_days": 1819,
    "sectors": [
      "XLK",
      "XLV",
      "XLF",
      "XLY",
      "XLC",
      "XLI",
      "XLP",
      "XLE",
      "XLU",
      "XLRE",
      "XLB"
    ],
    "spx_proxy": "weighted_sector_basket_pre2023_ES_2023plus",
    "rth_window": "09:30-16:00 ET",
    "null_test_shuffles": 5000,
    "walk_forward_split": "60/40"
  },
  "study1_intraday_lead_lag": {
    "description": "Lagged Spearman rho between sector_ret(t) and SPX_ret(t+N)",
    "lags_minutes": [
      1,
      3,
      5,
      10,
      15
    ],
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    "spx_own_morn_baseline": {
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  "study3_sector_breadth": {
    "description": "Breadth at 10:00/10:30/11:00 predicts SPX close direction",
    "1000": {
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      "n": 1681,
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      "divergence_bullish": {
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      "quintile_win_rates": {
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        "q2": {
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        "q3": {
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        "q4": {
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        "q5": {
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      "divergence_bearish": {
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      "divergence_bullish": {
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      "quintile_win_rates": {
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        "q2": {
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        "q3": {
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        "q4": {
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        "q5": {
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    "1100": {
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      "divergence_bearish": {
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      "divergence_bullish": {
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      "quintile_win_rates": {
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        "q3": {
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        "q4": {
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  "study4_rotation_speed": {
    "description": "Leadership changes per day vs SPX range/trend",
    "n_days": 1819,
    "rotation_count_vs_spx_range": {
      "rho": -0.029578027824990864,
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    "stable_days": {
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    "choppy_days": {
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    "changes_distribution": {
      "0": 351,
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      "2": 328,
      "3": 327,
      "4": 213,
      "5": 142,
      "6": 99,
      "7": 36,
      "8": 14,
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    "most_frequent_leaders": {
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    "by_dominant_leader": {
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  "study5_heavyweight_divergence": {
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    "cyclical_vs_spx": {
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    "defensive_vs_spx": {
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    "heavier_group_wins_when_diverging": {
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    "scenarios": {
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      "Gup_Cdn": {
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      "Gup_Cup": {
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}