{
  "ticker": {
    "uuid": "b4846760-070f-406d-8e7c-c4e4670fea60",
    "symbol": "HTD",
    "name": "John Hancock Tax- Advantaged Dividend Income",
    "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": 2,
    "stage_name": "Advancing",
    "phase": "2c",
    "phase_label": "Stage 2C \u00b7 Late advance",
    "transition": "stage_2_healthy",
    "transition_label": "Stage 2 trend intact",
    "confidence": 60.038,
    "architecture_regime": "upward_expansion",
    "architecture_regime_label": "Upward Expansion",
    "architecture_modifier": "Established expansion",
    "architecture_gate": "up",
    "architecture_direction": 53.545,
    "architecture_energy": 34.797,
    "architecture_maturity": 34.706,
    "architecture_confidence": 72.185,
    "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": 24.91,
        "rotation_up": 51.93,
        "upward_expansion": 76.79,
        "deceleration": 56.77,
        "rotation_down": 19.83,
        "downward_expansion": 3.45
      },
      "activity_lines": [
        25.704193,
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        25.455928,
        25.252063
      ],
      "activity_state": "Moderate",
      "activity_direction": "Stable",
      "rotation_direction": "Weakening",
      "price_acceptance": 0.666667
    },
    "latest_close": 25.41,
    "trend_reference": 24.917438,
    "distance_from_trend": 0.019768,
    "trend_direction": "Improving",
    "fair_value": 20.277464,
    "distance_from_fair_value": 0.253115,
    "fair_value_direction": "Weakening",
    "relative_strength": -6.335101,
    "relative_strength_direction": "Weakening",
    "price_momentum": 0.054409,
    "excess_performance": -0.071216,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.019768,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.032971,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.253115,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.046155,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.063351,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.031588,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.054409,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 1.24394,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 303814,
      "relative_activity": 1.007668,
      "balance": 1.24394,
      "dry_up": 1.003396,
      "accumulation_observations": 5,
      "distribution_observations": 3
    },
    "risk": {
      "range_context": 0.028109,
      "annualized_volatility": 0.141283,
      "from_high_reference": -0.035674,
      "from_low_reference": 0.139801
    },
    "levels": {
      "trend_reference": 24.917438,
      "fair_value_reference": 20.277464,
      "structural_low": 23.726685,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
    },
    "outcomes": [
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        "horizon": "Near term",
        "sample_count": 34,
        "median_return": 0.006248,
        "positive_rate": 0.558824,
        "directional_follow_through": 0.558824,
        "median_excess_return": -0.002176,
        "regime_survival": 0.735294,
        "best_return": 0.089974,
        "worst_return": -0.078954,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
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        "regime_survival": 0.5,
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        "worst_return": -0.124286,
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        "horizon": "Extended",
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        "horizon": "Full cycle",
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      {
        "regime": "rotation_up",
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      },
      {
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      },
      {
        "date": "2026-07-03",
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      },
      {
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        "relative_strength": -3.299997,
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      },
      {
        "date": "2026-07-17",
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        "typical_volume": 297703.65,
        "trend": 24.62859,
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        "relative_strength": -1.551467,
        "stage": 3,
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        "modifier": "Re-accelerating",
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        "direction": 60.656646,
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          25.276412,
          25.055652
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      },
      {
        "date": "2026-07-24",
        "close": 26.08,
        "volume": 297079,
        "typical_volume": 301390.6,
        "trend": 24.74133,
        "fair_value": 20.154822,
        "relative_strength": 0.287102,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 66.732765,
        "energy": 53.439257,
        "activity_lines": [
          25.791504,
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          25.373333,
          25.149291
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      },
      {
        "date": "2026-07-31",
        "close": 25.76,
        "volume": 272870,
        "typical_volume": 299611.85,
        "trend": 24.835698,
        "fair_value": 20.21782,
        "relative_strength": -1.893927,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 58.25798,
        "energy": 53.190613,
        "activity_lines": [
          25.816697,
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          25.434086,
          25.215012
        ]
      },
      {
        "date": "2026-08-07",
        "close": 25.41,
        "volume": 303814,
        "typical_volume": 301502.2,
        "trend": 24.917438,
        "fair_value": 20.277464,
        "relative_strength": -6.335101,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 53.545023,
        "energy": 34.796867,
        "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."
    }
  }
}