{ "ticker": { "uuid": "3d563cc0-1d28-4b33-8004-b30d19f25b1d", "symbol": "ETJ", "name": "Eaton Vance Risk-Managed Diversified Equity Income Fund", "exchange": "NYSE", "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": 3, "stage_name": "Distribution", "phase": "3a", "phase_label": "Stage 3A \u00b7 Churning", "transition": "stage_3_churning", "transition_label": "Stage 3 range intact", "confidence": 96.0, "architecture_regime": "rotation_up", "architecture_regime_label": "Rotation Up", "architecture_modifier": "Structural repair", "architecture_gate": "mixed", "architecture_direction": 42.594, "architecture_energy": 51.066, "architecture_maturity": 4.272, "architecture_confidence": 47.467, "architecture_tenure": "New", "architecture": { "interpretation": { "headline": "The Activity Line structure is rotating upward.", "body": "Fast Activity is improving relative to Slow Activity and price acceptance is strengthening. This is earlier than full positive Trend confirmation and remains a developing repair." }, "scores": { "balance": 25.92, "rotation_up": 66.29, "upward_expansion": 62.54, "deceleration": 18.82, "rotation_down": 19.84, "downward_expansion": 18.54 }, "activity_lines": [ 8.441001, 8.370929, 8.331895, 8.301119 ], "activity_state": "Moderate", "activity_direction": "Expanding", "rotation_direction": "Improving", "price_acceptance": 1.0 }, "latest_close": 8.54, "trend_reference": 8.304133, "distance_from_trend": 0.028404, "trend_direction": "Weakening", "fair_value": 7.630058, "distance_from_fair_value": 0.119258, "fair_value_direction": "Weakening", "relative_strength": -8.667025, "relative_strength_direction": "Improving", "price_momentum": 0.005001, "excess_performance": -0.120624, "evidence": [ { "label": "Price vs Trend", "positive": true, "value": 0.028404, "read": "Above" }, { "label": "Trend direction", "positive": false, "value": -0.001247, "read": "Falling" }, { "label": "Price vs current Fair Value", "positive": true, "value": 0.119258, "read": "Premium" }, { "label": "Fair Value direction", "positive": false, "value": -0.00158, "read": "Moving away" }, { "label": "Relative Strength vs benchmark", "positive": false, "value": -0.08667, "read": "Lagging" }, { "label": "Relative strength direction", "positive": true, "value": 0.016451, "read": "Improving" }, { "label": "Price momentum", "positive": true, "value": 0.005001, "read": "Positive" }, { "label": "Volume balance", "positive": true, "value": 1.24956, "read": "Demand-led" } ], "volume": { "latest": 532451, "relative_activity": 0.781896, "balance": 1.24956, "dry_up": 0.82327, "accumulation_observations": 1, "distribution_observations": 1 }, "risk": { "range_context": 0.022791, "annualized_volatility": 0.130453, "from_high_reference": -0.010685, "from_low_reference": 0.109193 }, "levels": { "trend_reference": 8.304133, "fair_value_reference": 7.630058, "structural_low": 7.699289, "invalidation": "A decisive 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7.589211, "relative_strength": -8.076923, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 7.141279, "energy": 8.544543, "activity_lines": [ 8.316016, 8.295286, 8.270245, 8.274302 ] }, { "date": "2026-07-24", "close": 8.36, "volume": 543276, "typical_volume": 700098.85, "trend": 8.304001, "fair_value": 7.601929, "relative_strength": -7.045494, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 22.550749, "energy": 23.905012, "activity_lines": [ 8.344317, 8.307665, 8.283319, 8.277794 ] }, { "date": "2026-07-31", "close": 8.43, "volume": 656347, "typical_volume": 690696.75, "trend": 8.304463, "fair_value": 7.61569, "relative_strength": -6.987451, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 31.340028, "energy": 39.336784, "activity_lines": [ 8.385736, 8.329978, 8.303003, 8.285923 ] }, { "date": "2026-08-07", "close": 8.54, "volume": 532451, "typical_volume": 680973.8, "trend": 8.304133, "fair_value": 7.630058, "relative_strength": -8.667025, "stage": 3, "regime": "rotation_up", "modifier": "Structural repair", "gate": "mixed", "direction": 42.593535, "energy": 51.065802, "activity_lines": [ 8.441001, 8.370929, 8.331895, 8.301119 ] } ], "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." } } }