State: the reading right now
The state is the engine's core reading for this asset and timeframe at this moment. MSI, for example, reads Trending, Ranging, Accumulating, Distributing, Volatility Expansion, Volatility Compression, Transitioning or Chaotic.
Each engine has its own states. MPI reads the crowd from Euphoric to Fearful; SAI reads accumulation, from Structural Accumulation to Silent Distribution; LBI reads the order book, from Absorption to Liquidity Trap.
Regime: the kind of market
The regime is the broader market condition the state belongs to, and it describes the conditions you are reading. Healthy Trend means a trend with controlled risk; Fragile Trend means a trend that is prone to failure; Volatility Coil means compression with breakout potential; Chaotic Market means the market is not fit for analysis.
Other engines have their own regimes: Smart Accumulation, Retail FOMO and Panic in MPI; Healthy Absorption, Shaped Book and Liquidity Trap in LBI; Clean Alignment, Fake Alignment and Breakdown in SCTA.
The snapshot: one line per dimension
On each asset's Structure Analysis page, the Structural Snapshot breaks the read into its dimensions. For MSI these are Regime, Trend, Range, Volatility, Pressure and Participation, each with its current label.
Phase: where in the life cycle
The phase shows where the regime sits in its life cycle. MSI moves through Building, Holding, Stretching, Unwinding, Breaking and Resetting. A Healthy Trend that is Building is a very different situation from one that is Stretching.
Bias and confidence
Next to the regime and phase, every read carries a bias (up, down or balanced) and a confidence, shown as a percentage and as a tier: High, Medium or Low. The Core State card on the Metrics Breakdown page puts all five side by side.
When there is no clear regime
If no regime condition is fully met, the engine says so instead of forcing a label: Awaiting Confirmation in MSI, Mixed Signal in MPI, Unclassified Book in LBI. Treat these as an open read, not as a conclusion.