{
  "ticker": {
    "uuid": "92094181-3cfe-435c-b9ca-16fde2c6a32e",
    "symbol": "HASI",
    "name": "Hannon Armstrong Sustainable Infrastructure Capital Inc",
    "exchange": "NYSE",
    "country": "US",
    "assetType": "equity"
  },
  "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": 92.428,
    "architecture_regime": "deceleration",
    "architecture_regime_label": "Deceleration",
    "architecture_modifier": "Recompressing",
    "architecture_gate": "up",
    "architecture_direction": 42.493,
    "architecture_energy": 20.596,
    "architecture_maturity": 30.428,
    "architecture_confidence": 63.176,
    "architecture_tenure": "Developing",
    "architecture": {
      "interpretation": {
        "headline": "The upward structure remains, but its energy is decelerating.",
        "body": "Trend remains positive, but Activity or price acceptance is losing strength. This can become a healthy recompression, a re-acceleration, or a Rotation Down."
      },
      "scores": {
        "balance": 45.49,
        "rotation_up": 40.36,
        "upward_expansion": 56.88,
        "deceleration": 63.57,
        "rotation_down": 23.7,
        "downward_expansion": 18.54
      },
      "activity_lines": [
        38.976667,
        38.694676,
        39.090291,
        38.739271
      ],
      "activity_state": "Compressed",
      "activity_direction": "Contracting",
      "rotation_direction": "Improving",
      "price_acceptance": -0.333333
    },
    "latest_close": 40.68,
    "trend_reference": 37.968101,
    "distance_from_trend": 0.071426,
    "trend_direction": "Improving",
    "fair_value": 28.103262,
    "distance_from_fair_value": 0.447519,
    "fair_value_direction": "Weakening",
    "relative_strength": 5.370741,
    "relative_strength_direction": "Weakening",
    "price_momentum": 0.138829,
    "excess_performance": 0.013204,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.071426,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.058342,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.447519,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.077644,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.053707,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.111426,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.138829,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": false,
        "value": 0.879374,
        "read": "Supply-led"
      }
    ],
    "volume": {
      "latest": 5478170,
      "relative_activity": 1.164551,
      "balance": 0.879374,
      "dry_up": 0.945108,
      "accumulation_observations": 4,
      "distribution_observations": 3
    },
    "risk": {
      "range_context": 0.050828,
      "annualized_volatility": 0.250448,
      "from_high_reference": -0.067938,
      "from_low_reference": 0.666709
    },
    "levels": {
      "trend_reference": 37.968101,
      "fair_value_reference": 28.103262,
      "structural_low": 34.574043,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 9,
        "median_return": 0.043397,
        "positive_rate": 0.777778,
        "directional_follow_through": 0.777778,
        "median_excess_return": 0.021458,
        "regime_survival": 0.333333,
        "best_return": 0.162349,
        "worst_return": -0.100772,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 5,
        "median_return": 0.118622,
        "positive_rate": 1.0,
        "directional_follow_through": 1.0,
        "median_excess_return": 0.072583,
        "regime_survival": 0.2,
        "best_return": 0.205133,
        "worst_return": 0.002054,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 3,
        "median_return": 0.298687,
        "positive_rate": 0.666667,
        "directional_follow_through": 0.666667,
        "median_excess_return": 0.193079,
        "regime_survival": 0.0,
        "best_return": 0.432711,
        "worst_return": -0.364796,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
        "sample_count": 2,
        "median_return": -0.033119,
        "positive_rate": 0.0,
        "directional_follow_through": 0.0,
        "median_excess_return": -0.213238,
        "regime_survival": 0.0,
        "best_return": -0.004833,
        "worst_return": -0.061405,
        "sufficient": false
      }
    ],
    "ledger": [
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        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2024-07-26",
        "end": "2024-11-01",
        "tenure": "Established",
        "return": 0.062944,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2024-11-08",
        "end": "2024-12-20",
        "tenure": "Developing",
        "return": -0.035315,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2024-12-27",
        "end": "2025-03-07",
        "tenure": "Developing",
        "return": 0.109747,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
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        "end": "2025-04-04",
        "tenure": "New",
        "return": -0.054696,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2025-04-11",
        "end": "2025-06-27",
        "tenure": "Developing",
        "return": 0.202086,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
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        "end": "2025-08-29",
        "tenure": "Developing",
        "return": 0.03595,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
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        "end": "2025-10-31",
        "tenure": "Developing",
        "return": -0.003558,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
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        "end": "2025-11-14",
        "tenure": "New",
        "return": 0.050578,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
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        "end": "2026-01-02",
        "tenure": "Developing",
        "return": -0.007605,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
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        "end": "2026-01-16",
        "tenure": "New",
        "return": 0.030185,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
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        "return": 0.04919,
        "active": false
      },
      {
        "regime": "deceleration",
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      {
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        "return": 0.063664,
        "active": true
      }
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      },
      {
        "date": "2026-07-03",
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      },
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        "date": "2026-07-10",
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      },
      {
        "date": "2026-07-17",
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        "typical_volume": 4703954.7,
        "trend": 37.292161,
        "fair_value": 27.75727,
        "relative_strength": 4.864981,
        "stage": 2,
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        "direction": 9.942358,
        "energy": 9.728816,
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        ]
      },
      {
        "date": "2026-07-24",
        "close": 38.37,
        "volume": 4244401,
        "typical_volume": 4747836.8,
        "trend": 37.50113,
        "fair_value": 27.861564,
        "relative_strength": 4.966985,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
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        "direction": 10.129439,
        "energy": 10.552036,
        "activity_lines": [
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      },
      {
        "date": "2026-07-31",
        "close": 37.87,
        "volume": 4448372,
        "typical_volume": 4744175.6,
        "trend": 37.714806,
        "fair_value": 27.971201,
        "relative_strength": 2.060442,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Momentum cooling",
        "gate": "up",
        "direction": 4.337192,
        "energy": 10.696685,
        "activity_lines": [
          38.132667,
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        ]
      },
      {
        "date": "2026-08-07",
        "close": 40.68,
        "volume": 5478170,
        "typical_volume": 4704105.9,
        "trend": 37.968101,
        "fair_value": 28.103262,
        "relative_strength": 5.370741,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 42.493097,
        "energy": 20.59575,
        "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."
    }
  }
}