{
  "ticker": {
    "symbol": "NBIZ",
    "name": "Tradr 2X Short NBIS Daily ETF",
    "exchange": "CBOE"
  },
  "latest_week": "2026-07-24",
  "latest_close": 28.58,
  "latest_open": 34.62,
  "latest_high": 38.1666,
  "latest_low": 20.1,
  "bar_count": 27,
  "analysis_bar_count": 27,
  "reversal_percent": 16.0,
  "model": {
    "version": "ewc-2.1.0",
    "as_of": "2026-07-24",
    "price_basis": "weekly OHLCV; Elliott pivots use weekly closes",
    "wave_method": "constraint-based Elliott candidate enumeration",
    "cycle_method": "adaptive Hurst-style phasing with nominal harmonic bands, trough spacing, FLD and cyclic trend-line confirmation",
    "repainting_policy": "only the final active pivot is provisional; confirmed pivots are retained"
  },
  "pivots": [
    {
      "index": 1,
      "date": "2026-01-30",
      "price": 951.3,
      "kind": "high",
      "move_percent": null,
      "weeks": 0,
      "confirmed": true
    },
    {
      "index": 8,
      "date": "2026-03-20",
      "price": 271.2,
      "kind": "low",
      "move_percent": -71.4916430148218,
      "weeks": 7,
      "confirmed": true
    },
    {
      "index": 9,
      "date": "2026-03-27",
      "price": 360.9,
      "kind": "high",
      "move_percent": 33.07522123893805,
      "weeks": 1,
      "confirmed": true
    },
    {
      "index": 21,
      "date": "2026-06-19",
      "price": 19.74,
      "kind": "low",
      "move_percent": -94.5303408146301,
      "weeks": 12,
      "confirmed": true
    },
    {
      "index": 25,
      "date": "2026-07-17",
      "price": 38.46,
      "kind": "high",
      "move_percent": 94.83282674772039,
      "weeks": 4,
      "confirmed": true
    },
    {
      "index": 26,
      "date": "2026-07-24",
      "price": 28.58,
      "kind": "low",
      "move_percent": -25.68902756110245,
      "weeks": 1,
      "confirmed": false
    }
  ],
  "cycle": {
    "phase": "troughing",
    "trend_bias": "bearish",
    "oscillator": -78.7492106377697,
    "slope": 11.224954427069122,
    "dominant_period_weeks": 13,
    "period_basis": "median confirmed trough-to-trough and crest-to-crest spacing",
    "weeks_since_turn": 1,
    "estimated_weeks_to_next_turn": 5,
    "series": [
      {
        "date": "2026-01-23",
        "value": null
      },
      {
        "date": "2026-01-30",
        "value": null
      },
      {
        "date": "2026-02-06",
        "value": null
      },
      {
        "date": "2026-02-13",
        "value": 0.0
      },
      {
        "date": "2026-02-20",
        "value": 0.0
      },
      {
        "date": "2026-02-27",
        "value": 0.0
      },
      {
        "date": "2026-03-06",
        "value": 0.0
      },
      {
        "date": "2026-03-13",
        "value": 0.0
      },
      {
        "date": "2026-03-20",
        "value": 0.0
      },
      {
        "date": "2026-03-27",
        "value": 0.0
      },
      {
        "date": "2026-04-03",
        "value": 0.0
      },
      {
        "date": "2026-04-10",
        "value": 0.0
      },
      {
        "date": "2026-04-17",
        "value": 0.0
      },
      {
        "date": "2026-04-24",
        "value": 0.0
      },
      {
        "date": "2026-05-01",
        "value": 0.0
      },
      {
        "date": "2026-05-08",
        "value": 0.0
      },
      {
        "date": "2026-05-15",
        "value": 0.0
      },
      {
        "date": "2026-05-22",
        "value": 0.0
      },
      {
        "date": "2026-05-29",
        "value": 0.0
      },
      {
        "date": "2026-06-05",
        "value": -22.546216525312882
      },
      {
        "date": "2026-06-12",
        "value": -44.95527774263975
      },
      {
        "date": "2026-06-19",
        "value": -68.06540721887563
      },
      {
        "date": "2026-06-26",
        "value": -89.97416506483883
      },
      {
        "date": "2026-07-03",
        "value": -88.55460346178978
      },
      {
        "date": "2026-07-10",
        "value": -87.05273027332191
      },
      {
        "date": "2026-07-17",
        "value": -82.059896678201
      },
      {
        "date": "2026-07-24",
        "value": -78.7492106377697
      }
    ]
  },
  "hurst": {
    "status": "mixed",
    "phase": "troughing",
    "alignment_score": 75,
    "risk_score": 25,
    "trough_alignment": 0,
    "crest_alignment": 0,
    "nearest_trough_window": 15,
    "nearest_crest_window": 14,
    "method": "adaptive Hurst-style phasing with nominal harmonic bands, trough spacing, FLD and cyclic trend-line confirmation",
    "explanation": "Nominal cycles are starting bands, not fixed clocks. Each period adapts to the strongest nearby repeat in detrended weekly prices; projected turns are future intervals and require price confirmation.",
    "cycles": [
      {
        "period": 10,
        "label": "10w",
        "estimated_period": 10,
        "period_range": [
          8,
          12
        ],
        "period_strength": 0,
        "phase": "rising",
        "value": -0.1591590542366419,
        "slope": 0.6118092843116969,
        "amplitude": 60.67,
        "weeks_since_trough": 5,
        "weeks_since_crest": 6,
        "projected_trough_window": 5,
        "projected_crest_window": 4,
        "trough_window": {
          "start": 3,
          "midpoint": 5,
          "end": 7
        },
        "crest_window": {
          "start": 2,
          "midpoint": 4,
          "end": 6
        },
        "fld": {
          "value": 23.08515,
          "state": "crossed up",
          "weeks_since_cross": 1,
          "displacement": 5,
          "explanation": "Median price displaced forward by half the estimated wavelength; a price cross confirms a cyclic turn after it begins."
        },
        "vtl": {
          "available": true,
          "value": -8.106825,
          "state": "price above",
          "slope": -5.167425,
          "explanation": "A provisional line through the latest two phased troughs; it is supporting evidence, not a standalone signal."
        },
        "trough_indexes": [
          12,
          17,
          21
        ],
        "series": [
          {
            "date": "2026-01-23",
            "value": null
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            "date": "2026-01-30",
            "value": null
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            "date": "2026-03-20",
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          {
            "date": "2026-03-27",
            "value": -1.0
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          {
            "date": "2026-04-03",
            "value": -1.0430986222597411
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          {
            "date": "2026-04-10",
            "value": -1.2450168544151277
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          {
            "date": "2026-04-17",
            "value": -1.2558378082970367
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          {
            "date": "2026-04-24",
            "value": -1.1064774345257575
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          {
            "date": "2026-05-01",
            "value": -1.04297378286751
          },
          {
            "date": "2026-05-08",
            "value": -1.063003626042654
          },
          {
            "date": "2026-05-15",
            "value": -1.1455589034398441
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          {
            "date": "2026-05-22",
            "value": -1.174554621676682
          },
          {
            "date": "2026-05-29",
            "value": -1.1632926134104904
          },
          {
            "date": "2026-06-05",
            "value": -1.1038681803030146
          },
          {
            "date": "2026-06-12",
            "value": -1.0287108065384558
          },
          {
            "date": "2026-06-19",
            "value": -1.0478046710773712
          },
          {
            "date": "2026-06-26",
            "value": -0.9511817025835713
          },
          {
            "date": "2026-07-03",
            "value": -0.7709683385483388
          },
          {
            "date": "2026-07-10",
            "value": -0.6083536300145822
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          {
            "date": "2026-07-17",
            "value": -0.22237279189538434
          },
          {
            "date": "2026-07-24",
            "value": -0.1591590542366419
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        ]
      },
      {
        "period": 20,
        "label": "20w",
        "estimated_period": 20,
        "period_range": [
          15,
          25
        ],
        "period_strength": 0,
        "phase": "troughing",
        "value": -0.882116441256964,
        "slope": 0.09516652199146325,
        "amplitude": 88.181,
        "weeks_since_trough": 5,
        "weeks_since_crest": 6,
        "projected_trough_window": 15,
        "projected_crest_window": 14,
        "trough_window": {
          "start": 10,
          "midpoint": 15,
          "end": 20
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        "crest_window": {
          "start": 9,
          "midpoint": 14,
          "end": 19
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        "fld": {
          "value": 61.5,
          "state": "unconfirmed",
          "weeks_since_cross": null,
          "displacement": 10,
          "explanation": "Median price displaced forward by half the estimated wavelength; a price cross confirms a cyclic turn after it begins."
        },
        "vtl": {
          "available": false,
          "value": null,
          "state": "unavailable"
        },
        "trough_indexes": [
          21
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            "date": "2026-02-13",
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            "date": "2026-02-20",
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            "date": "2026-02-27",
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            "date": "2026-03-06",
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            "date": "2026-03-13",
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            "date": "2026-03-20",
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            "date": "2026-03-27",
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            "date": "2026-04-03",
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            "date": "2026-04-10",
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            "date": "2026-04-17",
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            "date": "2026-04-24",
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            "date": "2026-05-01",
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            "date": "2026-05-08",
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            "date": "2026-05-15",
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            "date": "2026-05-22",
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            "date": "2026-05-29",
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          {
            "date": "2026-06-05",
            "value": -1.0
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            "date": "2026-06-12",
            "value": -0.998984573053716
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            "date": "2026-06-19",
            "value": -1.0069847825776448
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          {
            "date": "2026-06-26",
            "value": -0.9975720655184416
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          {
            "date": "2026-07-03",
            "value": -0.9772829632484272
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          {
            "date": "2026-07-10",
            "value": -0.9599667349264609
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          {
            "date": "2026-07-17",
            "value": -0.9081776196110002
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            "date": "2026-07-24",
            "value": -0.882116441256964
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        ]
      },
      {
        "period": 40,
        "label": "40w",
        "estimated_period": 40,
        "period_range": [
          30,
          50
        ],
        "period_strength": 0,
        "phase": "warming",
        "value": null,
        "slope": 0.0,
        "amplitude": null,
        "weeks_since_trough": null,
        "weeks_since_crest": null,
        "projected_trough_window": null,
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        "trough_window": null,
        "crest_window": null,
        "fld": {
          "value": 600.3735,
          "state": "unconfirmed",
          "weeks_since_cross": null,
          "displacement": 20,
          "explanation": "Median price displaced forward by half the estimated wavelength; a price cross confirms a cyclic turn after it begins."
        },
        "vtl": {
          "available": false,
          "value": null,
          "state": "unavailable"
        },
        "trough_indexes": [],
        "series": [
          {
            "date": "2026-01-23",
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            "date": "2026-01-30",
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            "date": "2026-02-06",
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            "date": "2026-02-13",
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            "date": "2026-02-20",
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            "date": "2026-02-27",
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          {
            "date": "2026-03-06",
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            "date": "2026-03-13",
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          {
            "date": "2026-03-20",
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            "date": "2026-03-27",
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          {
            "date": "2026-04-03",
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            "date": "2026-04-10",
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            "date": "2026-04-17",
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            "date": "2026-04-24",
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            "date": "2026-05-01",
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            "date": "2026-05-15",
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            "date": "2026-05-22",
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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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          {
            "date": "2026-06-19",
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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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            "date": "2026-07-17",
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          {
            "date": "2026-07-24",
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        ]
      },
      {
        "period": 80,
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        "estimated_period": 80,
        "period_range": [
          61,
          99
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        "period_strength": 0,
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        "value": null,
        "slope": 0.0,
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        "crest_window": null,
        "fld": {
          "value": null,
          "state": "unconfirmed",
          "weeks_since_cross": null,
          "displacement": 40,
          "explanation": "Median price displaced forward by half the estimated wavelength; a price cross confirms a cyclic turn after it begins."
        },
        "vtl": {
          "available": false,
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          "state": "unavailable"
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        "trough_indexes": [],
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    "composite": [
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        "date": "2026-07-10",
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  "structure": {
    "primary": {
      "id": "primary-bearish-wave5",
      "degree": "primary",
      "pattern": "impulse",
      "stage": "wave5",
      "title": "Five-wave decline mature",
      "direction": "bearish",
      "score": 87,
      "rules": [
        {
          "label": "Wave 2 protects the Wave 1 origin",
          "passed": true,
          "detail": "Origin 951.30; Wave 2 360.90.",
          "hard": true
        },
        {
          "label": "Wave 3 exceeds Wave 1",
          "passed": true,
          "detail": "Wave 1 271.20; Wave 3 19.74.",
          "hard": true
        },
        {
          "label": "Wave 4 does not overlap Wave 1",
          "passed": true,
          "detail": "Wave 1 boundary 271.20; Wave 4 38.46.",
          "hard": true
        },
        {
          "label": "Wave 3 is not the shortest motive wave",
          "passed": true,
          "detail": "Motive lengths: 680.10, 341.16, 9.88.",
          "hard": true
        },
        {
          "label": "Wave 5 makes motive progress",
          "passed": false,
          "detail": "Wave 3 19.74; Wave 5 28.58.",
          "hard": false
        }
      ],
      "guidelines": [
        {
          "label": "Wave 2 retracement is proportionate",
          "passed": false,
          "detail": "Retraced 13% of Wave 1.",
          "hard": false
        },
        {
          "label": "Wave 3 extension is plausible",
          "passed": false,
          "detail": "Wave 3 is 0.50\u00d7 Wave 1.",
          "hard": false
        },
        {
          "label": "Wave 4 retracement is proportionate",
          "passed": false,
          "detail": "Retraced 5% of Wave 3.",
          "hard": false
        },
        {
          "label": "Waves 2 and 4 show temporal alternation",
          "passed": true,
          "detail": "Wave 2 lasted 1w; Wave 4 lasted 4w.",
          "hard": false
        }
      ],
      "labels": [
        {
          "index": 1,
          "date": "2026-01-30",
          "price": 951.3,
          "kind": "high",
          "move_percent": null,
          "weeks": 0,
          "confirmed": true,
          "label": "0"
        },
        {
          "index": 8,
          "date": "2026-03-20",
          "price": 271.2,
          "kind": "low",
          "move_percent": -71.4916430148218,
          "weeks": 7,
          "confirmed": true,
          "label": "1"
        },
        {
          "index": 9,
          "date": "2026-03-27",
          "price": 360.9,
          "kind": "high",
          "move_percent": 33.07522123893805,
          "weeks": 1,
          "confirmed": true,
          "label": "2"
        },
        {
          "index": 21,
          "date": "2026-06-19",
          "price": 19.74,
          "kind": "low",
          "move_percent": -94.5303408146301,
          "weeks": 12,
          "confirmed": true,
          "label": "3"
        },
        {
          "index": 25,
          "date": "2026-07-17",
          "price": 38.46,
          "kind": "high",
          "move_percent": 94.83282674772039,
          "weeks": 4,
          "confirmed": true,
          "label": "4"
        },
        {
          "index": 26,
          "date": "2026-07-24",
          "price": 28.58,
          "kind": "low",
          "move_percent": -25.68902756110245,
          "weeks": 1,
          "confirmed": false,
          "label": "5"
        }
      ],
      "invalidation": 38.46,
      "confirmation": 28.58,
      "forming": true,
      "explanation": "A rule-valid motive interpretation. Fibonacci proportions and alternation improve the fit but are guidelines, not hard requirements.",
      "evidence_weight": 82
    },
    "alternates": [
      {
        "id": "primary-bullish-wave2",
        "degree": "primary",
        "pattern": "impulse",
        "stage": "wave2",
        "title": "Possible Wave 2 trough",
        "direction": "bullish",
        "score": 63,
        "rules": [
          {
            "label": "Wave 2 protects the Wave 1 origin",
            "passed": true,
            "detail": "Origin 19.74; Wave 2 28.58.",
            "hard": true
          }
        ],
        "guidelines": [
          {
            "label": "Wave 2 retracement is proportionate",
            "passed": true,
            "detail": "Retraced 53% of Wave 1.",
            "hard": false
          }
        ],
        "labels": [
          {
            "index": 21,
            "date": "2026-06-19",
            "price": 19.74,
            "kind": "low",
            "move_percent": -94.5303408146301,
            "weeks": 12,
            "confirmed": true,
            "label": "0"
          },
          {
            "index": 25,
            "date": "2026-07-17",
            "price": 38.46,
            "kind": "high",
            "move_percent": 94.83282674772039,
            "weeks": 4,
            "confirmed": true,
            "label": "1"
          },
          {
            "index": 26,
            "date": "2026-07-24",
            "price": 28.58,
            "kind": "low",
            "move_percent": -25.68902756110245,
            "weeks": 1,
            "confirmed": false,
            "label": "2"
          }
        ],
        "invalidation": 19.74,
        "confirmation": 38.46,
        "forming": true,
        "explanation": "A rule-valid motive interpretation. Fibonacci proportions and alternation improve the fit but are guidelines, not hard requirements.",
        "evidence_weight": 11
      },
      {
        "id": "primary-bullish-abc",
        "degree": "primary",
        "pattern": "correction",
        "stage": "wave_c",
        "title": "A/B/C reset may be completing",
        "direction": "bullish",
        "score": 58,
        "rules": [
          {
            "label": "Wave B protects the correction origin",
            "passed": true,
            "detail": "Origin 360.90; Wave B 38.46.",
            "hard": true
          },
          {
            "label": "Wave C progresses beyond Wave A",
            "passed": true,
            "detail": "A length 341.16; C length 9.88.",
            "hard": true
          }
        ],
        "guidelines": [
          {
            "label": "Wave C is proportionate to Wave A",
            "passed": false,
            "detail": "Wave C is 0.03\u00d7 Wave A.",
            "hard": false
          }
        ],
        "labels": [
          {
            "index": 9,
            "date": "2026-03-27",
            "price": 360.9,
            "kind": "high",
            "move_percent": 33.07522123893805,
            "weeks": 1,
            "confirmed": true,
            "label": "5"
          },
          {
            "index": 21,
            "date": "2026-06-19",
            "price": 19.74,
            "kind": "low",
            "move_percent": -94.5303408146301,
            "weeks": 12,
            "confirmed": true,
            "label": "A"
          },
          {
            "index": 25,
            "date": "2026-07-17",
            "price": 38.46,
            "kind": "high",
            "move_percent": 94.83282674772039,
            "weeks": 4,
            "confirmed": true,
            "label": "B"
          },
          {
            "index": 26,
            "date": "2026-07-24",
            "price": 28.58,
            "kind": "low",
            "move_percent": -25.68902756110245,
            "weeks": 1,
            "confirmed": false,
            "label": "C"
          }
        ],
        "invalidation": 28.58,
        "confirmation": 38.46,
        "forming": true,
        "explanation": "A three-leg corrective interpretation whose Wave B and Wave C geometry is internally consistent.",
        "evidence_weight": 7
      }
    ],
    "degrees": [
      {
        "key": "strategic",
        "label": "Strategic",
        "reversal_percent": 24.0,
        "primary": {
          "id": "strategic-bearish-wave5",
          "degree": "strategic",
          "pattern": "impulse",
          "stage": "wave5",
          "title": "Five-wave decline mature",
          "direction": "bearish",
          "score": 92,
          "rules": [
            {
              "label": "Wave 2 protects the Wave 1 origin",
              "passed": true,
              "detail": "Origin 795.60; Wave 2 360.90.",
              "hard": true
            },
            {
              "label": "Wave 3 exceeds Wave 1",
              "passed": true,
              "detail": "Wave 1 271.20; Wave 3 19.74.",
              "hard": true
            },
            {
              "label": "Wave 4 does not overlap Wave 1",
              "passed": true,
              "detail": "Wave 1 boundary 271.20; Wave 4 38.46.",
              "hard": true
            },
            {
              "label": "Wave 3 is not the shortest motive wave",
              "passed": true,
              "detail": "Motive lengths: 524.40, 341.16, 9.88.",
              "hard": true
            },
            {
              "label": "Wave 5 makes motive progress",
              "passed": false,
              "detail": "Wave 3 19.74; Wave 5 28.58.",
              "hard": false
            }
          ],
          "guidelines": [
            {
              "label": "Wave 2 retracement is proportionate",
              "passed": false,
              "detail": "Retraced 17% of Wave 1.",
              "hard": false
            },
            {
              "label": "Wave 3 extension is plausible",
              "passed": true,
              "detail": "Wave 3 is 0.65\u00d7 Wave 1.",
              "hard": false
            },
            {
              "label": "Wave 4 retracement is proportionate",
              "passed": false,
              "detail": "Retraced 5% of Wave 3.",
              "hard": false
            },
            {
              "label": "Waves 2 and 4 show temporal alternation",
              "passed": true,
              "detail": "Wave 2 lasted 1w; Wave 4 lasted 4w.",
              "hard": false
            }
          ],
          "labels": [
            {
              "index": 2,
              "date": "2026-02-06",
              "price": 795.6,
              "kind": "high",
              "move_percent": null,
              "weeks": 0,
              "confirmed": true,
              "label": "0"
            },
            {
              "index": 8,
              "date": "2026-03-20",
              "price": 271.2,
              "kind": "low",
              "move_percent": -65.91251885369533,
              "weeks": 6,
              "confirmed": true,
              "label": "1"
            },
            {
              "index": 9,
              "date": "2026-03-27",
              "price": 360.9,
              "kind": "high",
              "move_percent": 33.07522123893805,
              "weeks": 1,
              "confirmed": true,
              "label": "2"
            },
            {
              "index": 21,
              "date": "2026-06-19",
              "price": 19.74,
              "kind": "low",
              "move_percent": -94.5303408146301,
              "weeks": 12,
              "confirmed": true,
              "label": "3"
            },
            {
              "index": 25,
              "date": "2026-07-17",
              "price": 38.46,
              "kind": "high",
              "move_percent": 94.83282674772039,
              "weeks": 4,
              "confirmed": true,
              "label": "4"
            },
            {
              "index": 26,
              "date": "2026-07-24",
              "price": 28.58,
              "kind": "low",
              "move_percent": -25.68902756110245,
              "weeks": 1,
              "confirmed": false,
              "label": "5"
            }
          ],
          "invalidation": 38.46,
          "confirmation": 28.58,
          "forming": true,
          "explanation": "A rule-valid motive interpretation. Fibonacci proportions and alternation improve the fit but are guidelines, not hard requirements."
        },
        "candidate_count": 3,
        "explanation": "Strategic degree uses a 24.0% weekly closing-price reversal threshold."
      },
      {
        "key": "primary",
        "label": "Primary",
        "reversal_percent": 16.0,
        "primary": {
          "id": "primary-bearish-wave5",
          "degree": "primary",
          "pattern": "impulse",
          "stage": "wave5",
          "title": "Five-wave decline mature",
          "direction": "bearish",
          "score": 87,
          "rules": [
            {
              "label": "Wave 2 protects the Wave 1 origin",
              "passed": true,
              "detail": "Origin 951.30; Wave 2 360.90.",
              "hard": true
            },
            {
              "label": "Wave 3 exceeds Wave 1",
              "passed": true,
              "detail": "Wave 1 271.20; Wave 3 19.74.",
              "hard": true
            },
            {
              "label": "Wave 4 does not overlap Wave 1",
              "passed": true,
              "detail": "Wave 1 boundary 271.20; Wave 4 38.46.",
              "hard": true
            },
            {
              "label": "Wave 3 is not the shortest motive wave",
              "passed": true,
              "detail": "Motive lengths: 680.10, 341.16, 9.88.",
              "hard": true
            },
            {
              "label": "Wave 5 makes motive progress",
              "passed": false,
              "detail": "Wave 3 19.74; Wave 5 28.58.",
              "hard": false
            }
          ],
          "guidelines": [
            {
              "label": "Wave 2 retracement is proportionate",
              "passed": false,
              "detail": "Retraced 13% of Wave 1.",
              "hard": false
            },
            {
              "label": "Wave 3 extension is plausible",
              "passed": false,
              "detail": "Wave 3 is 0.50\u00d7 Wave 1.",
              "hard": false
            },
            {
              "label": "Wave 4 retracement is proportionate",
              "passed": false,
              "detail": "Retraced 5% of Wave 3.",
              "hard": false
            },
            {
              "label": "Waves 2 and 4 show temporal alternation",
              "passed": true,
              "detail": "Wave 2 lasted 1w; Wave 4 lasted 4w.",
              "hard": false
            }
          ],
          "labels": [
            {
              "index": 1,
              "date": "2026-01-30",
              "price": 951.3,
              "kind": "high",
              "move_percent": null,
              "weeks": 0,
              "confirmed": true,
              "label": "0"
            },
            {
              "index": 8,
              "date": "2026-03-20",
              "price": 271.2,
              "kind": "low",
              "move_percent": -71.4916430148218,
              "weeks": 7,
              "confirmed": true,
              "label": "1"
            },
            {
              "index": 9,
              "date": "2026-03-27",
              "price": 360.9,
              "kind": "high",
              "move_percent": 33.07522123893805,
              "weeks": 1,
              "confirmed": true,
              "label": "2"
            },
            {
              "index": 21,
              "date": "2026-06-19",
              "price": 19.74,
              "kind": "low",
              "move_percent": -94.5303408146301,
              "weeks": 12,
              "confirmed": true,
              "label": "3"
            },
            {
              "index": 25,
              "date": "2026-07-17",
              "price": 38.46,
              "kind": "high",
              "move_percent": 94.83282674772039,
              "weeks": 4,
              "confirmed": true,
              "label": "4"
            },
            {
              "index": 26,
              "date": "2026-07-24",
              "price": 28.58,
              "kind": "low",
              "move_percent": -25.68902756110245,
              "weeks": 1,
              "confirmed": false,
              "label": "5"
            }
          ],
          "invalidation": 38.46,
          "confirmation": 28.58,
          "forming": true,
          "explanation": "A rule-valid motive interpretation. Fibonacci proportions and alternation improve the fit but are guidelines, not hard requirements.",
          "evidence_weight": 82
        },
        "candidate_count": 3,
        "explanation": "Primary degree uses a 16.0% weekly closing-price reversal threshold."
      },
      {
        "key": "tactical",
        "label": "Tactical",
        "reversal_percent": 11.2,
        "primary": {
          "id": "tactical-bearish-wave5",
          "degree": "tactical",
          "pattern": "impulse",
          "stage": "wave5",
          "title": "Five-wave decline mature",
          "direction": "bearish",
          "score": 87,
          "rules": [
            {
              "label": "Wave 2 protects the Wave 1 origin",
              "passed": true,
              "detail": "Origin 360.90; Wave 2 140.70.",
              "hard": true
            },
            {
              "label": "Wave 3 exceeds Wave 1",
              "passed": true,
              "detail": "Wave 1 124.50; Wave 3 19.74.",
              "hard": true
            },
            {
              "label": "Wave 4 does not overlap Wave 1",
              "passed": true,
              "detail": "Wave 1 boundary 124.50; Wave 4 38.46.",
              "hard": true
            },
            {
              "label": "Wave 3 is not the shortest motive wave",
              "passed": true,
              "detail": "Motive lengths: 236.40, 120.96, 9.88.",
              "hard": true
            },
            {
              "label": "Wave 5 makes motive progress",
              "passed": false,
              "detail": "Wave 3 19.74; Wave 5 28.58.",
              "hard": false
            }
          ],
          "guidelines": [
            {
              "label": "Wave 2 retracement is proportionate",
              "passed": false,
              "detail": "Retraced 7% of Wave 1.",
              "hard": false
            },
            {
              "label": "Wave 3 extension is plausible",
              "passed": false,
              "detail": "Wave 3 is 0.51\u00d7 Wave 1.",
              "hard": false
            },
            {
              "label": "Wave 4 retracement is proportionate",
              "passed": false,
              "detail": "Retraced 15% of Wave 3.",
              "hard": false
            },
            {
              "label": "Waves 2 and 4 show temporal alternation",
              "passed": true,
              "detail": "Wave 2 lasted 1w; Wave 4 lasted 4w.",
              "hard": false
            }
          ],
          "labels": [
            {
              "index": 9,
              "date": "2026-03-27",
              "price": 360.9,
              "kind": "high",
              "move_percent": 33.07522123893805,
              "weeks": 1,
              "confirmed": true,
              "label": "0"
            },
            {
              "index": 12,
              "date": "2026-04-17",
              "price": 124.5,
              "kind": "low",
              "move_percent": -65.5029093931837,
              "weeks": 3,
              "confirmed": true,
              "label": "1"
            },
            {
              "index": 13,
              "date": "2026-04-24",
              "price": 140.7,
              "kind": "high",
              "move_percent": 13.012048192771076,
              "weeks": 1,
              "confirmed": true,
              "label": "2"
            },
            {
              "index": 21,
              "date": "2026-06-19",
              "price": 19.74,
              "kind": "low",
              "move_percent": -85.97014925373135,
              "weeks": 8,
              "confirmed": true,
              "label": "3"
            },
            {
              "index": 25,
              "date": "2026-07-17",
              "price": 38.46,
              "kind": "high",
              "move_percent": 94.83282674772039,
              "weeks": 4,
              "confirmed": true,
              "label": "4"
            },
            {
              "index": 26,
              "date": "2026-07-24",
              "price": 28.58,
              "kind": "low",
              "move_percent": -25.68902756110245,
              "weeks": 1,
              "confirmed": false,
              "label": "5"
            }
          ],
          "invalidation": 38.46,
          "confirmation": 28.58,
          "forming": true,
          "explanation": "A rule-valid motive interpretation. Fibonacci proportions and alternation improve the fit but are guidelines, not hard requirements."
        },
        "candidate_count": 3,
        "explanation": "Tactical degree uses a 11.2% weekly closing-price reversal threshold."
      }
    ],
    "stability": {
      "score": 0,
      "changes": null,
      "observations": 0,
      "label": "Unavailable"
    },
    "method": "constraint-based Elliott candidate enumeration",
    "explanation": "Counts must pass hard Elliott geometry rules. Fibonacci relationships, alternation and cycle evidence rank admissible interpretations; evidence weights compare scenarios and are not forecast probabilities."
  },
  "scenario": {
    "setup": "warming",
    "title": "Needs more weekly history",
    "direction": "neutral",
    "confidence": 20,
    "labels": [],
    "notes": [
      "At least 65 weekly bars gives the wave and cycle model enough context."
    ],
    "metrics": {}
  },
  "detail": {
    "summary": "The closing-price swing map is classified as needs more weekly history. 1 of 3 available confirmation measures are constructive.",
    "returns": [
      {
        "weeks": 4,
        "label": "4-week return",
        "value": 3.776325344952793
      },
      {
        "weeks": 13,
        "label": "13-week return",
        "value": -79.68727789623311
      },
      {
        "weeks": 26,
        "label": "26-week return",
        "value": -96.49761340171443
      },
      {
        "weeks": 52,
        "label": "52-week return",
        "value": null
      }
    ],
    "range": {
      "high_52": 1200.0,
      "low_52": 17.73,
      "position_52": 0.9177260693411825,
      "drawdown": -97.61833333333334
    },
    "risk": {
      "annualised_volatility": 170.61065607978696,
      "average_weekly_range": 51.79491544853404,
      "active_drawdown": -96.99569010827288
    },
    "levels": {
      "support": {
        "index": 21,
        "date": "2026-06-19",
        "price": 19.74,
        "kind": "low",
        "move_percent": -94.5303408146301,
        "weeks": 12,
        "confirmed": true
      },
      "resistance": {
        "index": 25,
        "date": "2026-07-17",
        "price": 38.46,
        "kind": "high",
        "move_percent": 94.83282674772039,
        "weeks": 4,
        "confirmed": true
      },
      "decisive": {
        "index": 21,
        "date": "2026-06-19",
        "price": 19.74,
        "kind": "low",
        "move_percent": -94.5303408146301,
        "weeks": 12,
        "confirmed": true
      },
      "decisive_label": "Nearest confirmed structure level",
      "trend": null,
      "fair_value": 264.527963,
      "trend_gap": null,
      "fair_value_gap": -89.19584921160113
    },
    "active_swing": {
      "from": {
        "index": 25,
        "date": "2026-07-17",
        "price": 38.46,
        "kind": "high",
        "move_percent": 94.83282674772039,
        "weeks": 4,
        "confirmed": true
      },
      "to": {
        "index": 26,
        "date": "2026-07-24",
        "price": 28.58,
        "kind": "low",
        "move_percent": -25.68902756110245,
        "weeks": 1,
        "confirmed": false
      },
      "move_percent": -25.68902756110245,
      "weeks": 1,
      "status": "Forming"
    },
    "confirmation": {
      "rows": [
        {
          "label": "Trend",
          "status": "neutral",
          "value": "Unavailable",
          "explanation": "The 30-week trend line is not available."
        },
        {
          "label": "Cycle pressure",
          "status": "positive",
          "value": "Troughing",
          "explanation": "The medium-term pressure curve is turning higher."
        },
        {
          "label": "Cycle alignment",
          "status": "neutral",
          "value": "Mixed",
          "explanation": "Cycle lengths are not moving in one clear direction."
        },
        {
          "label": "Relative strength",
          "status": "neutral",
          "value": "Unavailable",
          "explanation": "The reading is neutral or unavailable."
        },
        {
          "label": "Market activity",
          "status": "neutral",
          "value": "Unavailable",
          "explanation": "The reading is neutral or unavailable."
        },
        {
          "label": "Market dynamics",
          "status": "neutral",
          "value": "+0.0",
          "explanation": "The reading is neutral or unavailable."
        },
        {
          "label": "30-week momentum",
          "status": "neutral",
          "value": "Unavailable",
          "explanation": "The reading is neutral or unavailable."
        }
      ],
      "positive": 1,
      "negative": 0,
      "neutral": 2,
      "observed": 3,
      "agreement": 33,
      "direction": "constructive",
      "scenario_direction": "neutral"
    },
    "evidence": {
      "score": 37,
      "history_score": 10,
      "indicator_coverage": 38,
      "structure_score": 83,
      "weekly_observations": 27,
      "confirmed_pivots": 5
    },
    "volume_ratio": 34.01960589780795,
    "historical": {
      "available": false,
      "matches": 0,
      "horizons": [],
      "note": "At least 90 weekly observations are required."
    },
    "lifecycle": {
      "state": "mature",
      "label": "Mature / manage risk",
      "now": "Five-wave decline mature is the highest-ranked admissible primary count; cycle status is mixed.",
      "next": "Watch for a confirmed weekly reversal, cycle rollover, or deterioration in relative strength and participation; a mature count is a risk-management state, not a fresh bullish trigger.",
      "wrong": "The underlying directional structure fails beyond 38.46; a forming endpoint can extend before that happens.",
      "risk": "The active endpoint can move until its reversal is confirmed; earnings, gaps and volatility can jump through technical levels.",
      "explanation": "The lifecycle separates an interesting setup from price confirmation, an active thesis, maturity and invalidation."
    },
    "peer_evidence": {
      "available": true,
      "peers": 17,
      "constructive_count": 8,
      "constructive_percent": 47,
      "rising_cycle_count": 7,
      "rising_cycle_percent": 41,
      "horizons": [
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          "observations": 0,
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          "weeks": 13,
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        {
          "weeks": 26,
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      "benchmark": "SPY",
      "explanation": "Breadth shows whether peers share the structure. Cohort outcomes use non-overlapping, point-in-time trend and momentum states from the same sector and report benchmark excess return when matching benchmark bars exist; they are context, not a backtest of the Elliott count."
    },
    "event_positioning": {
      "earnings_date": null,
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      "flags": [
        "The options-implied move is large enough to cross the Elliott invalidation level in one event-sized move."
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      "explanation": "Event and positioning context tests whether a scheduled catalyst or the options-implied move could overwhelm the technical structure."
    },
    "downside_vulnerability": {
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          "bar_width": 100,
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        },
        {
          "key": "extension",
          "label": "Trend extension",
          "score": 0,
          "maximum": 20,
          "bar_width": 0,
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        },
        {
          "key": "range",
          "label": "Range position",
          "score": 0,
          "maximum": 15,
          "bar_width": 0,
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        {
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        },
        {
          "key": "hurst",
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        },
        {
          "key": "stability",
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          "bar_width": 100,
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        },
        {
          "key": "event",
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        "A forming Wave 5 is mature structure: upside can continue, but reward-to-risk is usually less forgiving.",
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