{
  "ticker": {
    "uuid": "4c1af331-1235-429b-9072-bdc26c6bed99",
    "symbol": "PFM",
    "name": "INVESCO DIVIDEND ACHIEVERS ETF",
    "exchange": "NASDAQ",
    "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": "QQQ",
    "stage": 2,
    "stage_name": "Advancing",
    "phase": "2a",
    "phase_label": "Stage 2A \u00b7 Early advance",
    "transition": "stage_2_healthy",
    "transition_label": "Stage 2 trend intact",
    "confidence": 85.695,
    "architecture_regime": "upward_expansion",
    "architecture_regime_label": "Upward Expansion",
    "architecture_modifier": "Established expansion",
    "architecture_gate": "up",
    "architecture_direction": 89.544,
    "architecture_energy": 84.912,
    "architecture_maturity": 33.463,
    "architecture_confidence": 74.517,
    "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": 1.04,
        "rotation_up": 77.62,
        "upward_expansion": 95.9,
        "deceleration": 42.58,
        "rotation_down": 17.29,
        "downward_expansion": 17.9
      },
      "activity_lines": [
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        54.709786
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      "activity_state": "Wide",
      "activity_direction": "Expanding",
      "rotation_direction": "Improving",
      "price_acceptance": 1.0
    },
    "latest_close": 57.61,
    "trend_reference": 53.927399,
    "distance_from_trend": 0.068288,
    "trend_direction": "Improving",
    "fair_value": 45.726944,
    "distance_from_fair_value": 0.25987,
    "fair_value_direction": "Improving",
    "relative_strength": -3.95062,
    "relative_strength_direction": "Improving",
    "price_momentum": 0.068189,
    "excess_performance": -0.119265,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.068288,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.02922,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.25987,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.042202,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.039506,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.074011,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.068189,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 5.069362,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 118152,
      "relative_activity": 1.199014,
      "balance": 5.069362,
      "dry_up": 0.864367,
      "accumulation_observations": 3,
      "distribution_observations": 0
    },
    "risk": {
      "range_context": 0.015005,
      "annualized_volatility": 0.091944,
      "from_high_reference": -0.001906,
      "from_low_reference": 0.196507
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    "levels": {
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      "fair_value_reference": 45.726944,
      "structural_low": 49.9782,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 40,
        "median_return": 0.012959,
        "positive_rate": 0.725,
        "directional_follow_through": 0.725,
        "median_excess_return": 0.002153,
        "regime_survival": 0.75,
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        "worst_return": -0.060081,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
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        "directional_follow_through": 0.6,
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        "regime_survival": 0.6,
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        "worst_return": -0.043773,
        "sufficient": true
      },
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        "horizon": "Extended",
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        "worst_return": -0.105149,
        "sufficient": true
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      {
        "horizon": "Full cycle",
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        "worst_return": -0.02878,
        "sufficient": false
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        "regime": "rotation_up",
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        "regime": "deceleration",
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        "regime": "deceleration",
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        "regime": "balance",
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        "date": "2026-04-24",
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      },
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      },
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        "date": "2026-05-29",
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      },
      {
        "date": "2026-06-05",
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      },
      {
        "date": "2026-06-12",
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        "relative_strength": -8.767411,
        "stage": 3,
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      },
      {
        "date": "2026-06-26",
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      },
      {
        "date": "2026-07-03",
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      },
      {
        "date": "2026-07-10",
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        "stage": 2,
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        "modifier": "Re-accelerating",
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      },
      {
        "date": "2026-07-17",
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        "typical_volume": 107238.8,
        "trend": 53.446438,
        "fair_value": 45.345762,
        "relative_strength": -3.28118,
        "stage": 2,
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        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 71.014907,
        "energy": 81.602077,
        "activity_lines": [
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        ]
      },
      {
        "date": "2026-07-24",
        "close": 56.1923,
        "volume": 97087,
        "typical_volume": 103257.35,
        "trend": 53.590814,
        "fair_value": 45.466658,
        "relative_strength": -1.202812,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
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        "direction": 72.331098,
        "energy": 81.751056,
        "activity_lines": [
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        ]
      },
      {
        "date": "2026-07-31",
        "close": 56.3979,
        "volume": 48627,
        "typical_volume": 99046.15,
        "trend": 53.755312,
        "fair_value": 45.593345,
        "relative_strength": -1.288549,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 74.374486,
        "energy": 79.832072,
        "activity_lines": [
          56.1704,
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          55.132369,
          54.461097
        ]
      },
      {
        "date": "2026-08-07",
        "close": 57.61,
        "volume": 118152,
        "typical_volume": 98540.95,
        "trend": 53.927399,
        "fair_value": 45.726944,
        "relative_strength": -3.95062,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 89.543941,
        "energy": 84.911729,
        "activity_lines": [
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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."
    }
  }
}