{
  "ticker": {
    "symbol": "0138Y0",
    "name": "Hanwha Plus Gold & Treasury Balanced Etf",
    "exchange": "KSC"
  },
  "latest_week": "2026-08-07",
  "latest_close": 9840.0,
  "latest_open": 9660.0,
  "latest_high": 9922.0,
  "latest_low": 9570.0,
  "bar_count": 34,
  "analysis_bar_count": 34,
  "reversal_percent": 5.0,
  "model": {
    "version": "ewc-2.1.0",
    "as_of": "2026-08-07",
    "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": 33,
      "date": "2026-08-07",
      "price": 9840.0,
      "kind": "low",
      "move_percent": null,
      "weeks": 0,
      "confirmed": false
    }
  ],
  "cycle": {
    "phase": "falling",
    "trend_bias": "bearish",
    "oscillator": -5.206388677491123,
    "slope": -0.46347767791265504,
    "dominant_period_weeks": 40,
    "period_basis": "median confirmed trough-to-trough and crest-to-crest spacing",
    "weeks_since_turn": null,
    "estimated_weeks_to_next_turn": null,
    "series": [
      {
        "date": "2025-12-19",
        "value": null
      },
      {
        "date": "2025-12-26",
        "value": null
      },
      {
        "date": "2026-01-02",
        "value": null
      },
      {
        "date": "2026-01-09",
        "value": 0.0
      },
      {
        "date": "2026-01-16",
        "value": 0.0
      },
      {
        "date": "2026-01-23",
        "value": 0.0
      },
      {
        "date": "2026-01-30",
        "value": 0.0
      },
      {
        "date": "2026-02-06",
        "value": 0.0
      },
      {
        "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": -0.45980434023956285
      },
      {
        "date": "2026-05-08",
        "value": -0.6006373890616856
      },
      {
        "date": "2026-05-15",
        "value": -1.0263935651909164
      },
      {
        "date": "2026-05-22",
        "value": -1.4709220812223172
      },
      {
        "date": "2026-05-29",
        "value": -1.5776481410394663
      },
      {
        "date": "2026-06-05",
        "value": -1.9667439624113554
      },
      {
        "date": "2026-06-12",
        "value": -2.774926433098302
      },
      {
        "date": "2026-06-19",
        "value": -3.559418271786577
      },
      {
        "date": "2026-06-26",
        "value": -4.366514245356238
      },
      {
        "date": "2026-07-03",
        "value": -4.785800850069401
      },
      {
        "date": "2026-07-10",
        "value": -4.742910999578468
      },
      {
        "date": "2026-07-17",
        "value": -5.007240100723363
      },
      {
        "date": "2026-07-24",
        "value": -5.094040480703958
      },
      {
        "date": "2026-07-31",
        "value": -5.574935692445819
      },
      {
        "date": "2026-08-07",
        "value": -5.206388677491123
      }
    ]
  },
  "hurst": {
    "status": "mixed",
    "phase": "troughing",
    "alignment_score": 75,
    "risk_score": 25,
    "trough_alignment": 0,
    "crest_alignment": 0,
    "nearest_trough_window": 14,
    "nearest_crest_window": 7,
    "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": 12,
        "period_range": [
          11,
          13
        ],
        "period_strength": 76,
        "phase": "troughing",
        "value": -1.3224169774882086,
        "slope": 0.6131873254538824,
        "amplitude": 2.275,
        "weeks_since_trough": 6,
        "weeks_since_crest": 4,
        "projected_trough_window": 6,
        "projected_crest_window": 8,
        "trough_window": {
          "start": 5,
          "midpoint": 6,
          "end": 7
        },
        "crest_window": {
          "start": 7,
          "midpoint": 8,
          "end": 9
        },
        "fld": {
          "value": 9905.0,
          "state": "crossed down",
          "weeks_since_cross": 12,
          "displacement": 6,
          "explanation": "Median price displaced forward by half the estimated wavelength; a price cross confirms a cyclic turn after it begins."
        },
        "vtl": {
          "available": true,
          "value": 9551.25,
          "state": "price above",
          "slope": -53.125,
          "explanation": "A provisional line through the latest two phased troughs; it is supporting evidence, not a standalone signal."
        },
        "trough_indexes": [
          19,
          27
        ],
        "series": [
          {
            "date": "2025-12-19",
            "value": null
          },
          {
            "date": "2025-12-26",
            "value": null
          },
          {
            "date": "2026-01-02",
            "value": null
          },
          {
            "date": "2026-01-09",
            "value": null
          },
          {
            "date": "2026-01-16",
            "value": null
          },
          {
            "date": "2026-01-23",
            "value": null
          },
          {
            "date": "2026-01-30",
            "value": null
          },
          {
            "date": "2026-02-06",
            "value": null
          },
          {
            "date": "2026-02-13",
            "value": null
          },
          {
            "date": "2026-02-20",
            "value": null
          },
          {
            "date": "2026-02-27",
            "value": null
          },
          {
            "date": "2026-03-06",
            "value": 1.0
          },
          {
            "date": "2026-03-13",
            "value": 0.9739654126572753
          },
          {
            "date": "2026-03-20",
            "value": 0.44196469613183076
          },
          {
            "date": "2026-03-27",
            "value": -0.32001888814802615
          },
          {
            "date": "2026-04-03",
            "value": -0.5402394816862685
          },
          {
            "date": "2026-04-10",
            "value": -0.643426643408141
          },
          {
            "date": "2026-04-17",
            "value": -0.6360582620553951
          },
          {
            "date": "2026-04-24",
            "value": -0.8972839652497457
          },
          {
            "date": "2026-05-01",
            "value": -1.4368969373544598
          },
          {
            "date": "2026-05-08",
            "value": -1.1955909574697876
          },
          {
            "date": "2026-05-15",
            "value": -1.1822704593908016
          },
          {
            "date": "2026-05-22",
            "value": -1.0705613577176074
          },
          {
            "date": "2026-05-29",
            "value": -1.0038754776183272
          },
          {
            "date": "2026-06-05",
            "value": -0.7998566430476557
          },
          {
            "date": "2026-06-12",
            "value": -1.458479023485861
          },
          {
            "date": "2026-06-19",
            "value": -1.9425401407765108
          },
          {
            "date": "2026-06-26",
            "value": -2.284703900007375
          },
          {
            "date": "2026-07-03",
            "value": -1.8653220038460363
          },
          {
            "date": "2026-07-10",
            "value": -1.7205081590885791
          },
          {
            "date": "2026-07-17",
            "value": -1.935604302942091
          },
          {
            "date": "2026-07-24",
            "value": -2.0457881203990467
          },
          {
            "date": "2026-07-31",
            "value": -1.955801434639845
          },
          {
            "date": "2026-08-07",
            "value": -1.3224169774882086
          }
        ]
      },
      {
        "period": 20,
        "label": "20w",
        "estimated_period": 20,
        "period_range": [
          15,
          25
        ],
        "period_strength": 0,
        "phase": "troughing",
        "value": -1.227173661417533,
        "slope": 0.7897959155533896,
        "amplitude": 4.2,
        "weeks_since_trough": 6,
        "weeks_since_crest": 13,
        "projected_trough_window": 14,
        "projected_crest_window": 7,
        "trough_window": {
          "start": 9,
          "midpoint": 14,
          "end": 19
        },
        "crest_window": {
          "start": 2,
          "midpoint": 7,
          "end": 12
        },
        "fld": {
          "value": 10300.0,
          "state": "crossed down",
          "weeks_since_cross": 8,
          "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": [
          27
        ],
        "series": [
          {
            "date": "2025-12-19",
            "value": null
          },
          {
            "date": "2025-12-26",
            "value": null
          },
          {
            "date": "2026-01-02",
            "value": null
          },
          {
            "date": "2026-01-09",
            "value": null
          },
          {
            "date": "2026-01-16",
            "value": null
          },
          {
            "date": "2026-01-23",
            "value": null
          },
          {
            "date": "2026-01-30",
            "value": null
          },
          {
            "date": "2026-02-06",
            "value": null
          },
          {
            "date": "2026-02-13",
            "value": null
          },
          {
            "date": "2026-02-20",
            "value": null
          },
          {
            "date": "2026-02-27",
            "value": null
          },
          {
            "date": "2026-03-06",
            "value": null
          },
          {
            "date": "2026-03-13",
            "value": null
          },
          {
            "date": "2026-03-20",
            "value": null
          },
          {
            "date": "2026-03-27",
            "value": null
          },
          {
            "date": "2026-04-03",
            "value": null
          },
          {
            "date": "2026-04-10",
            "value": null
          },
          {
            "date": "2026-04-17",
            "value": null
          },
          {
            "date": "2026-04-24",
            "value": null
          },
          {
            "date": "2026-05-01",
            "value": -1.0
          },
          {
            "date": "2026-05-08",
            "value": -0.8601229551766862
          },
          {
            "date": "2026-05-15",
            "value": -0.9533743183922287
          },
          {
            "date": "2026-05-22",
            "value": -1.0198819070325948
          },
          {
            "date": "2026-05-29",
            "value": -1.140979527985233
          },
          {
            "date": "2026-06-05",
            "value": -1.1639458294593477
          },
          {
            "date": "2026-06-12",
            "value": -1.6504619978507373
          },
          {
            "date": "2026-06-19",
            "value": -2.0315280137915055
          },
          {
            "date": "2026-06-26",
            "value": -2.3422785498487646
          },
          {
            "date": "2026-07-03",
            "value": -2.232000300415149
          },
          {
            "date": "2026-07-10",
            "value": -2.2358502156931985
          },
          {
            "date": "2026-07-17",
            "value": -2.0169695769709226
          },
          {
            "date": "2026-07-24",
            "value": -1.7346313151713837
          },
          {
            "date": "2026-07-31",
            "value": -1.5562283895345566
          },
          {
            "date": "2026-08-07",
            "value": -1.227173661417533
          }
        ]
      },
      {
        "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,
        "projected_crest_window": null,
        "trough_window": null,
        "crest_window": null,
        "fld": {
          "value": 10667.5,
          "state": "crossed down",
          "weeks_since_cross": 8,
          "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": "2025-12-19",
            "value": null
          },
          {
            "date": "2025-12-26",
            "value": null
          },
          {
            "date": "2026-01-02",
            "value": null
          },
          {
            "date": "2026-01-09",
            "value": null
          },
          {
            "date": "2026-01-16",
            "value": null
          },
          {
            "date": "2026-01-23",
            "value": null
          },
          {
            "date": "2026-01-30",
            "value": null
          },
          {
            "date": "2026-02-06",
            "value": null
          },
          {
            "date": "2026-02-13",
            "value": null
          },
          {
            "date": "2026-02-20",
            "value": null
          },
          {
            "date": "2026-02-27",
            "value": null
          },
          {
            "date": "2026-03-06",
            "value": null
          },
          {
            "date": "2026-03-13",
            "value": null
          },
          {
            "date": "2026-03-20",
            "value": null
          },
          {
            "date": "2026-03-27",
            "value": null
          },
          {
            "date": "2026-04-03",
            "value": null
          },
          {
            "date": "2026-04-10",
            "value": null
          },
          {
            "date": "2026-04-17",
            "value": null
          },
          {
            "date": "2026-04-24",
            "value": null
          },
          {
            "date": "2026-05-01",
            "value": null
          },
          {
            "date": "2026-05-08",
            "value": null
          },
          {
            "date": "2026-05-15",
            "value": null
          },
          {
            "date": "2026-05-22",
            "value": null
          },
          {
            "date": "2026-05-29",
            "value": null
          },
          {
            "date": "2026-06-05",
            "value": null
          },
          {
            "date": "2026-06-12",
            "value": null
          },
          {
            "date": "2026-06-19",
            "value": null
          },
          {
            "date": "2026-06-26",
            "value": null
          },
          {
            "date": "2026-07-03",
            "value": null
          },
          {
            "date": "2026-07-10",
            "value": null
          },
          {
            "date": "2026-07-17",
            "value": null
          },
          {
            "date": "2026-07-24",
            "value": null
          },
          {
            "date": "2026-07-31",
            "value": null
          },
          {
            "date": "2026-08-07",
            "value": null
          }
        ]
      },
      {
        "period": 80,
        "label": "80w",
        "estimated_period": 80,
        "period_range": [
          61,
          99
        ],
        "period_strength": 0,
        "phase": "warming",
        "value": null,
        "slope": 0.0,
        "amplitude": null,
        "weeks_since_trough": null,
        "weeks_since_crest": null,
        "projected_trough_window": null,
        "projected_crest_window": null,
        "trough_window": null,
        "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,
          "value": null,
          "state": "unavailable"
        },
        "trough_indexes": [],
        "series": [
          {
            "date": "2025-12-19",
            "value": null
          },
          {
            "date": "2025-12-26",
            "value": null
          },
          {
            "date": "2026-01-02",
            "value": null
          },
          {
            "date": "2026-01-09",
            "value": null
          },
          {
            "date": "2026-01-16",
            "value": null
          },
          {
            "date": "2026-01-23",
            "value": null
          },
          {
            "date": "2026-01-30",
            "value": null
          },
          {
            "date": "2026-02-06",
            "value": null
          },
          {
            "date": "2026-02-13",
            "value": null
          },
          {
            "date": "2026-02-20",
            "value": null
          },
          {
            "date": "2026-02-27",
            "value": null
          },
          {
            "date": "2026-03-06",
            "value": null
          },
          {
            "date": "2026-03-13",
            "value": null
          },
          {
            "date": "2026-03-20",
            "value": null
          },
          {
            "date": "2026-03-27",
            "value": null
          },
          {
            "date": "2026-04-03",
            "value": null
          },
          {
            "date": "2026-04-10",
            "value": null
          },
          {
            "date": "2026-04-17",
            "value": null
          },
          {
            "date": "2026-04-24",
            "value": null
          },
          {
            "date": "2026-05-01",
            "value": null
          },
          {
            "date": "2026-05-08",
            "value": null
          },
          {
            "date": "2026-05-15",
            "value": null
          },
          {
            "date": "2026-05-22",
            "value": null
          },
          {
            "date": "2026-05-29",
            "value": null
          },
          {
            "date": "2026-06-05",
            "value": null
          },
          {
            "date": "2026-06-12",
            "value": null
          },
          {
            "date": "2026-06-19",
            "value": null
          },
          {
            "date": "2026-06-26",
            "value": null
          },
          {
            "date": "2026-07-03",
            "value": null
          },
          {
            "date": "2026-07-10",
            "value": null
          },
          {
            "date": "2026-07-17",
            "value": null
          },
          {
            "date": "2026-07-24",
            "value": null
          },
          {
            "date": "2026-07-31",
            "value": null
          },
          {
            "date": "2026-08-07",
            "value": null
          }
        ]
      }
    ],
    "composite": [
      {
        "date": "2025-12-19",
        "value": null
      },
      {
        "date": "2025-12-26",
        "value": null
      },
      {
        "date": "2026-01-02",
        "value": null
      },
      {
        "date": "2026-01-09",
        "value": null
      },
      {
        "date": "2026-01-16",
        "value": null
      },
      {
        "date": "2026-01-23",
        "value": null
      },
      {
        "date": "2026-01-30",
        "value": null
      },
      {
        "date": "2026-02-06",
        "value": null
      },
      {
        "date": "2026-02-13",
        "value": null
      },
      {
        "date": "2026-02-20",
        "value": null
      },
      {
        "date": "2026-02-27",
        "value": null
      },
      {
        "date": "2026-03-06",
        "value": 1.0
      },
      {
        "date": "2026-03-13",
        "value": 0.9739654126572752
      },
      {
        "date": "2026-03-20",
        "value": 0.4419646961318308
      },
      {
        "date": "2026-03-27",
        "value": -0.32001888814802615
      },
      {
        "date": "2026-04-03",
        "value": -0.5402394816862685
      },
      {
        "date": "2026-04-10",
        "value": -0.643426643408141
      },
      {
        "date": "2026-04-17",
        "value": -0.6360582620553951
      },
      {
        "date": "2026-04-24",
        "value": -0.8972839652497456
      },
      {
        "date": "2026-05-01",
        "value": -1.1747587749417838
      },
      {
        "date": "2026-05-08",
        "value": -0.9943101560939268
      },
      {
        "date": "2026-05-15",
        "value": -1.0449327747916577
      },
      {
        "date": "2026-05-22",
        "value": -1.0401536873065997
      },
      {
        "date": "2026-05-29",
        "value": -1.0861379078384705
      },
      {
        "date": "2026-06-05",
        "value": -1.0183101548946707
      },
      {
        "date": "2026-06-12",
        "value": -1.5736688081047867
      },
      {
        "date": "2026-06-19",
        "value": -1.9959328645855074
      },
      {
        "date": "2026-06-26",
        "value": -2.3192486899122087
      },
      {
        "date": "2026-07-03",
        "value": -2.085328981787504
      },
      {
        "date": "2026-07-10",
        "value": -2.0297133930513502
      },
      {
        "date": "2026-07-17",
        "value": -1.98442346735939
      },
      {
        "date": "2026-07-24",
        "value": -1.8590940372624487
      },
      {
        "date": "2026-07-31",
        "value": -1.716057607576672
      },
      {
        "date": "2026-08-07",
        "value": -1.265270987845803
      }
    ]
  },
  "structure": {
    "primary": null,
    "alternates": [],
    "degrees": [
      {
        "key": "strategic",
        "label": "Strategic",
        "reversal_percent": 8.0,
        "primary": null,
        "candidate_count": 0,
        "explanation": "Strategic degree uses a 8.0% weekly closing-price reversal threshold."
      },
      {
        "key": "primary",
        "label": "Primary",
        "reversal_percent": 5.0,
        "primary": null,
        "candidate_count": 0,
        "explanation": "Primary degree uses a 5.0% weekly closing-price reversal threshold."
      },
      {
        "key": "tactical",
        "label": "Tactical",
        "reversal_percent": 3.5,
        "primary": null,
        "candidate_count": 0,
        "explanation": "Tactical degree uses a 3.5% 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. Price is 5.0% below its 30-week trend. 0 of 6 available confirmation measures are constructive.",
    "returns": [
      {
        "weeks": 4,
        "label": "4-week return",
        "value": -0.6060606060606061
      },
      {
        "weeks": 13,
        "label": "13-week return",
        "value": -6.1516452074391985
      },
      {
        "weeks": 26,
        "label": "26-week return",
        "value": -7.300989166274141
      },
      {
        "weeks": 52,
        "label": "52-week return",
        "value": null
      }
    ],
    "range": {
      "high_52": 11250.0,
      "low_52": 9570.0,
      "position_52": 16.071428571428573,
      "drawdown": -12.533333333333333
    },
    "risk": {
      "annualised_volatility": 10.928619860894026,
      "average_weekly_range": 1.7912900443612068,
      "active_drawdown": -10.136986301369863
    },
    "levels": {
      "support": null,
      "resistance": null,
      "decisive": null,
      "decisive_label": "Nearest confirmed structure level",
      "trend": 10355.0,
      "fair_value": 10326.794692,
      "trend_gap": -4.973442781265089,
      "fair_value_gap": -4.713899196399358
    },
    "active_swing": {
      "from": null,
      "to": {
        "index": 33,
        "date": "2026-08-07",
        "price": 9840.0,
        "kind": "low",
        "move_percent": null,
        "weeks": 0,
        "confirmed": false
      },
      "move_percent": null,
      "weeks": 0,
      "status": "Forming"
    },
    "confirmation": {
      "rows": [
        {
          "label": "Trend",
          "status": "negative",
          "value": "5.0% below trend",
          "explanation": "Price remains below its 30-week trend."
        },
        {
          "label": "Cycle pressure",
          "status": "negative",
          "value": "Falling",
          "explanation": "The medium-term pressure curve is not rising."
        },
        {
          "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": "negative",
          "value": "-74.4",
          "explanation": "Participation is weak"
        },
        {
          "label": "Market dynamics",
          "status": "negative",
          "value": "-2.2",
          "explanation": "Price and volume behaviour is weak"
        },
        {
          "label": "30-week momentum",
          "status": "negative",
          "value": "-3.6",
          "explanation": "Medium-term momentum is negative"
        }
      ],
      "positive": 0,
      "negative": 5,
      "neutral": 1,
      "observed": 6,
      "agreement": 83,
      "direction": "defensive",
      "scenario_direction": "neutral"
    },
    "evidence": {
      "score": 22,
      "history_score": 13,
      "indicator_coverage": 39,
      "structure_score": 0,
      "weekly_observations": 34,
      "confirmed_pivots": 0
    },
    "volume_ratio": 62.50048546162984,
    "historical": {
      "available": false,
      "matches": 0,
      "horizons": [],
      "note": "At least 90 weekly observations are required."
    },
    "lifecycle": {
      "state": "observing",
      "label": "Observing",
      "now": "No rule-valid primary Elliott count is dominant.",
      "next": "Wait for a valid swing structure or a confirmed cycle turn.",
      "wrong": "No active thesis to invalidate.",
      "risk": "Forcing a wave count where the geometry does not support one."
    },
    "peer_evidence": {
      "available": true,
      "peers": 24,
      "constructive_count": 10,
      "constructive_percent": 42,
      "rising_cycle_count": 1,
      "rising_cycle_percent": 4,
      "horizons": [
        {
          "weeks": 4,
          "observations": 25,
          "positive_rate": 60.0,
          "median_return": 1.4,
          "average_return": -0.44,
          "median_excess_return": -4.98,
          "excess_observations": 25,
          "p10": -13.73,
          "p90": 7.96
        },
        {
          "weeks": 13,
          "observations": 9,
          "positive_rate": 66.7,
          "median_return": 1.92,
          "average_return": 1.64,
          "median_excess_return": -30.89,
          "excess_observations": 9,
          "p10": -9.26,
          "p90": 10.95
        },
        {
          "weeks": 26,
          "observations": 4,
          "positive_rate": 75.0,
          "median_return": 0.46,
          "average_return": 2.22,
          "median_excess_return": -76.25,
          "excess_observations": 4,
          "p10": -0.54,
          "p90": 6.4
        }
      ],
      "benchmark": "^KS11",
      "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,
      "earnings_weeks": null,
      "options_available": false,
      "options_direction": null,
      "options_conviction": null,
      "expected_move": null,
      "invalidation_distance": null,
      "collision": false,
      "flags": [],
      "explanation": "Event and positioning context tests whether a scheduled catalyst or the options-implied move could overwhelm the technical structure."
    },
    "downside_vulnerability": {
      "score": 25,
      "label": "Contained",
      "tone": "contained",
      "components": [
        {
          "key": "wave",
          "label": "Wave maturity",
          "score": 0,
          "maximum": 25,
          "bar_width": 0,
          "explanation": "The primary count is not presently a mature Wave 5."
        },
        {
          "key": "extension",
          "label": "Trend extension",
          "score": 0,
          "maximum": 20,
          "bar_width": 0,
          "explanation": "Price is 5.0% below the 30-week trend; large positive gaps increase snap-back vulnerability."
        },
        {
          "key": "range",
          "label": "Range position",
          "score": 0,
          "maximum": 15,
          "bar_width": 0,
          "explanation": "Price is 16% of the way through its 52-week low-to-high range."
        },
        {
          "key": "cycle",
          "label": "Cycle rollover",
          "score": 11,
          "maximum": 15,
          "bar_width": 73,
          "explanation": "Medium-term cycle pressure is falling."
        },
        {
          "key": "hurst",
          "label": "Multi-cycle risk",
          "score": 4,
          "maximum": 15,
          "bar_width": 25,
          "explanation": "Hurst risk alignment is 25/100."
        },
        {
          "key": "stability",
          "label": "Count instability",
          "score": 10,
          "maximum": 10,
          "bar_width": 100,
          "explanation": "The primary interpretation has unavailable recent stability."
        },
        {
          "key": "event",
          "label": "Event proximity",
          "score": 0,
          "maximum": 10,
          "bar_width": 0,
          "explanation": "No upcoming stored earnings date is available."
        }
      ],
      "warnings": [
        "Medium-term cycle pressure is falling.",
        "The primary interpretation has unavailable recent stability."
      ],
      "explanation": "This is a pre-emptive vulnerability checklist, not a probability of decline. It rises when mature wave structure, overextension, cycle rollover, count instability and event risk cluster before price breaks down."
    }
  },
  "chart": {
    "dates": [
      "2025-12-19",
      "2025-12-26",
      "2026-01-02",
      "2026-01-09",
      "2026-01-16",
      "2026-01-23",
      "2026-01-30",
      "2026-02-06",
      "2026-02-13",
      "2026-02-20",
      "2026-02-27",
      "2026-03-06",
      "2026-03-13",
      "2026-03-20",
      "2026-03-27",
      "2026-04-03",
      "2026-04-10",
      "2026-04-17",
      "2026-04-24",
      "2026-05-01",
      "2026-05-08",
      "2026-05-15",
      "2026-05-22",
      "2026-05-29",
      "2026-06-05",
      "2026-06-12",
      "2026-06-19",
      "2026-06-26",
      "2026-07-03",
      "2026-07-10",
      "2026-07-17",
      "2026-07-24",
      "2026-07-31",
      "2026-08-07"
    ],
    "close": [
      10068.019531,
      10168.0,
      10020.0,
      10205.0,
      10365.0,
      10700.0,
      10870.0,
      10615.0,
      10615.0,
      10720.0,
      10875.0,
      10920.0,
      10950.0,
      10525.0,
      10295.0,
      10570.0,
      10575.0,
      10610.0,
      10475.0,
      10330.0,
      10485.0,
      10375.0,
      10385.0,
      10340.0,
      10355.0,
      10025.0,
      9985.0,
      9890.0,
      10040.0,
      9900.0,
      9720.0,
      9675.0,
      9625.0,
      9840.0
    ],
    "trend": [
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      10408.367318,
      10396.766667,
      10380.333333,
      10367.166667,
      10355.0
    ],
    "sma30": [
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      10408.3673177,
      10396.766666666666,
      10380.333333333334,
      10367.166666666666,
      10355.0
    ],
    "roc30": [
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      -3.456683113579867,
      -4.848544453186467,
      -3.942115768463074,
      -3.5766780989710925
    ],
    "drawdown": [
      0.0,
      0.0,
      -1.4555468135326515,
      0.0,
      0.0,
      0.0,
      0.0,
      -2.3459061637534497,
      -2.3459061637534497,
      -1.3799448022079117,
      0.0,
      0.0,
      0.0,
      -3.8812785388127855,
      -5.981735159817352,
      -3.470319634703196,
      -3.4246575342465753,
      -3.105022831050228,
      -4.337899543378995,
      -5.662100456621005,
      -4.2465753424657535,
      -5.251141552511416,
      -5.159817351598173,
      -5.570776255707763,
      -5.433789954337899,
      -8.447488584474886,
      -8.812785388127853,
      -9.680365296803654,
      -8.310502283105023,
      -9.58904109589041,
      -11.232876712328768,
      -11.643835616438356,
      -12.100456621004566,
      -10.136986301369863
    ],
    "volatility": [
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      12.428530393433984,
      11.738886535509806,
      11.248824979888104,
      10.753077691617491,
      10.339196185857142,
      13.288885037713069,
      13.649523192526178,
      13.928778854511606,
      13.49639904854785,
      13.093434061939439,
      12.995372247916483,
      12.915256317284172,
      12.76554641942388,
      12.609151253127479,
      12.319599882210284,
      12.07989575167588,
      11.825573502586291,
      12.499088901386814,
      12.268721451992834,
      12.24476286875722,
      12.276521032476182,
      12.13525094151957,
      12.11158116245091,
      11.033503952810547,
      10.664260322411142,
      10.928619860894026
    ],
    "volumeRatio": [
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      187.71392077631367,
      89.73418105837565,
      40.72971222811866,
      126.79003574452825,
      130.68318902941377,
      72.20187426229792,
      81.21260355628146,
      78.05425642223732,
      69.81735582609252,
      47.15062893238628,
      51.779727825801956,
      55.10929408532454,
      70.67909547106704,
      66.08455319789046,
      76.86678209731804,
      42.43253437321924,
      51.524430804797774,
      7.081729704979291,
      11.711499151837348,
      12.015676807438739,
      8.12293523325846,
      12.983524168532156,
      33.42902930390251,
      21.352121123148066,
      30.847267462627226,
      42.417091975220366,
      62.50048546162984
    ],
    "fairValue": [
      10068.019531,
      10118.009766,
      10085.339844,
      10115.254883,
      10165.203906,
      10254.336589,
      10342.288504,
      10376.377441,
      10402.891059,
      10434.601953,
      10474.638139,
      10511.751628,
      10545.463041,
      10544.001395,
      10527.401302,
      10530.063721,
      10532.707031,
      10537.001085,
      10533.73787,
      10523.550977,
      10521.715216,
      10515.046342,
      10509.392154,
      10502.334147,
      10496.440781,
      10478.308444,
      10460.03776,
      10439.679269,
      10425.897225,
      10408.367318,
      10386.16192,
      10363.93811,
      10341.546046,
      10326.794692
    ],
    "marketActivity": [
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      -40.6804,
      -44.149075,
      -48.674612,
      -56.864631,
      -74.408641
    ],
    "marketDynamics": [
      null,
      null,
      null,
      0.0,
      0.0,
      0.0,
      0.0,
      0.0,
      0.0,
      0.0,
      0.0,
      0.0,
      0.0,
      0.0,
      0.0,
      0.0,
      0.0,
      0.0,
      0.0,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      -1.466427,
      -2.004006,
      -2.095344,
      -2.166597,
      -2.362093,
      -2.17714
    ],
    "relativeStrength": [
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null
    ],
    "cycle": [
      {
        "date": "2025-12-19",
        "value": null
      },
      {
        "date": "2025-12-26",
        "value": null
      },
      {
        "date": "2026-01-02",
        "value": null
      },
      {
        "date": "2026-01-09",
        "value": 0.0
      },
      {
        "date": "2026-01-16",
        "value": 0.0
      },
      {
        "date": "2026-01-23",
        "value": 0.0
      },
      {
        "date": "2026-01-30",
        "value": 0.0
      },
      {
        "date": "2026-02-06",
        "value": 0.0
      },
      {
        "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": -0.45980434023956285
      },
      {
        "date": "2026-05-08",
        "value": -0.6006373890616856
      },
      {
        "date": "2026-05-15",
        "value": -1.0263935651909164
      },
      {
        "date": "2026-05-22",
        "value": -1.4709220812223172
      },
      {
        "date": "2026-05-29",
        "value": -1.5776481410394663
      },
      {
        "date": "2026-06-05",
        "value": -1.9667439624113554
      },
      {
        "date": "2026-06-12",
        "value": -2.774926433098302
      },
      {
        "date": "2026-06-19",
        "value": -3.559418271786577
      },
      {
        "date": "2026-06-26",
        "value": -4.366514245356238
      },
      {
        "date": "2026-07-03",
        "value": -4.785800850069401
      },
      {
        "date": "2026-07-10",
        "value": -4.742910999578468
      },
      {
        "date": "2026-07-17",
        "value": -5.007240100723363
      },
      {
        "date": "2026-07-24",
        "value": -5.094040480703958
      },
      {
        "date": "2026-07-31",
        "value": -5.574935692445819
      },
      {
        "date": "2026-08-07",
        "value": -5.206388677491123
      }
    ],
    "hurstComposite": [
      {
        "date": "2025-12-19",
        "value": null
      },
      {
        "date": "2025-12-26",
        "value": null
      },
      {
        "date": "2026-01-02",
        "value": null
      },
      {
        "date": "2026-01-09",
        "value": null
      },
      {
        "date": "2026-01-16",
        "value": null
      },
      {
        "date": "2026-01-23",
        "value": null
      },
      {
        "date": "2026-01-30",
        "value": null
      },
      {
        "date": "2026-02-06",
        "value": null
      },
      {
        "date": "2026-02-13",
        "value": null
      },
      {
        "date": "2026-02-20",
        "value": null
      },
      {
        "date": "2026-02-27",
        "value": null
      },
      {
        "date": "2026-03-06",
        "value": 1.0
      },
      {
        "date": "2026-03-13",
        "value": 0.9739654126572752
      },
      {
        "date": "2026-03-20",
        "value": 0.4419646961318308
      },
      {
        "date": "2026-03-27",
        "value": -0.32001888814802615
      },
      {
        "date": "2026-04-03",
        "value": -0.5402394816862685
      },
      {
        "date": "2026-04-10",
        "value": -0.643426643408141
      },
      {
        "date": "2026-04-17",
        "value": -0.6360582620553951
      },
      {
        "date": "2026-04-24",
        "value": -0.8972839652497456
      },
      {
        "date": "2026-05-01",
        "value": -1.1747587749417838
      },
      {
        "date": "2026-05-08",
        "value": -0.9943101560939268
      },
      {
        "date": "2026-05-15",
        "value": -1.0449327747916577
      },
      {
        "date": "2026-05-22",
        "value": -1.0401536873065997
      },
      {
        "date": "2026-05-29",
        "value": -1.0861379078384705
      },
      {
        "date": "2026-06-05",
        "value": -1.0183101548946707
      },
      {
        "date": "2026-06-12",
        "value": -1.5736688081047867
      },
      {
        "date": "2026-06-19",
        "value": -1.9959328645855074
      },
      {
        "date": "2026-06-26",
        "value": -2.3192486899122087
      },
      {
        "date": "2026-07-03",
        "value": -2.085328981787504
      },
      {
        "date": "2026-07-10",
        "value": -2.0297133930513502
      },
      {
        "date": "2026-07-17",
        "value": -1.98442346735939
      },
      {
        "date": "2026-07-24",
        "value": -1.8590940372624487
      },
      {
        "date": "2026-07-31",
        "value": -1.716057607576672
      },
      {
        "date": "2026-08-07",
        "value": -1.265270987845803
      }
    ],
    "hurstCycles": {
      "10": [
        {
          "date": "2025-12-19",
          "value": null
        },
        {
          "date": "2025-12-26",
          "value": null
        },
        {
          "date": "2026-01-02",
          "value": null
        },
        {
          "date": "2026-01-09",
          "value": null
        },
        {
          "date": "2026-01-16",
          "value": null
        },
        {
          "date": "2026-01-23",
          "value": null
        },
        {
          "date": "2026-01-30",
          "value": null
        },
        {
          "date": "2026-02-06",
          "value": null
        },
        {
          "date": "2026-02-13",
          "value": null
        },
        {
          "date": "2026-02-20",
          "value": null
        },
        {
          "date": "2026-02-27",
          "value": null
        },
        {
          "date": "2026-03-06",
          "value": 1.0
        },
        {
          "date": "2026-03-13",
          "value": 0.9739654126572753
        },
        {
          "date": "2026-03-20",
          "value": 0.44196469613183076
        },
        {
          "date": "2026-03-27",
          "value": -0.32001888814802615
        },
        {
          "date": "2026-04-03",
          "value": -0.5402394816862685
        },
        {
          "date": "2026-04-10",
          "value": -0.643426643408141
        },
        {
          "date": "2026-04-17",
          "value": -0.6360582620553951
        },
        {
          "date": "2026-04-24",
          "value": -0.8972839652497457
        },
        {
          "date": "2026-05-01",
          "value": -1.4368969373544598
        },
        {
          "date": "2026-05-08",
          "value": -1.1955909574697876
        },
        {
          "date": "2026-05-15",
          "value": -1.1822704593908016
        },
        {
          "date": "2026-05-22",
          "value": -1.0705613577176074
        },
        {
          "date": "2026-05-29",
          "value": -1.0038754776183272
        },
        {
          "date": "2026-06-05",
          "value": -0.7998566430476557
        },
        {
          "date": "2026-06-12",
          "value": -1.458479023485861
        },
        {
          "date": "2026-06-19",
          "value": -1.9425401407765108
        },
        {
          "date": "2026-06-26",
          "value": -2.284703900007375
        },
        {
          "date": "2026-07-03",
          "value": -1.8653220038460363
        },
        {
          "date": "2026-07-10",
          "value": -1.7205081590885791
        },
        {
          "date": "2026-07-17",
          "value": -1.935604302942091
        },
        {
          "date": "2026-07-24",
          "value": -2.0457881203990467
        },
        {
          "date": "2026-07-31",
          "value": -1.955801434639845
        },
        {
          "date": "2026-08-07",
          "value": -1.3224169774882086
        }
      ],
      "20": [
        {
          "date": "2025-12-19",
          "value": null
        },
        {
          "date": "2025-12-26",
          "value": null
        },
        {
          "date": "2026-01-02",
          "value": null
        },
        {
          "date": "2026-01-09",
          "value": null
        },
        {
          "date": "2026-01-16",
          "value": null
        },
        {
          "date": "2026-01-23",
          "value": null
        },
        {
          "date": "2026-01-30",
          "value": null
        },
        {
          "date": "2026-02-06",
          "value": null
        },
        {
          "date": "2026-02-13",
          "value": null
        },
        {
          "date": "2026-02-20",
          "value": null
        },
        {
          "date": "2026-02-27",
          "value": null
        },
        {
          "date": "2026-03-06",
          "value": null
        },
        {
          "date": "2026-03-13",
          "value": null
        },
        {
          "date": "2026-03-20",
          "value": null
        },
        {
          "date": "2026-03-27",
          "value": null
        },
        {
          "date": "2026-04-03",
          "value": null
        },
        {
          "date": "2026-04-10",
          "value": null
        },
        {
          "date": "2026-04-17",
          "value": null
        },
        {
          "date": "2026-04-24",
          "value": null
        },
        {
          "date": "2026-05-01",
          "value": -1.0
        },
        {
          "date": "2026-05-08",
          "value": -0.8601229551766862
        },
        {
          "date": "2026-05-15",
          "value": -0.9533743183922287
        },
        {
          "date": "2026-05-22",
          "value": -1.0198819070325948
        },
        {
          "date": "2026-05-29",
          "value": -1.140979527985233
        },
        {
          "date": "2026-06-05",
          "value": -1.1639458294593477
        },
        {
          "date": "2026-06-12",
          "value": -1.6504619978507373
        },
        {
          "date": "2026-06-19",
          "value": -2.0315280137915055
        },
        {
          "date": "2026-06-26",
          "value": -2.3422785498487646
        },
        {
          "date": "2026-07-03",
          "value": -2.232000300415149
        },
        {
          "date": "2026-07-10",
          "value": -2.2358502156931985
        },
        {
          "date": "2026-07-17",
          "value": -2.0169695769709226
        },
        {
          "date": "2026-07-24",
          "value": -1.7346313151713837
        },
        {
          "date": "2026-07-31",
          "value": -1.5562283895345566
        },
        {
          "date": "2026-08-07",
          "value": -1.227173661417533
        }
      ],
      "40": [
        {
          "date": "2025-12-19",
          "value": null
        },
        {
          "date": "2025-12-26",
          "value": null
        },
        {
          "date": "2026-01-02",
          "value": null
        },
        {
          "date": "2026-01-09",
          "value": null
        },
        {
          "date": "2026-01-16",
          "value": null
        },
        {
          "date": "2026-01-23",
          "value": null
        },
        {
          "date": "2026-01-30",
          "value": null
        },
        {
          "date": "2026-02-06",
          "value": null
        },
        {
          "date": "2026-02-13",
          "value": null
        },
        {
          "date": "2026-02-20",
          "value": null
        },
        {
          "date": "2026-02-27",
          "value": null
        },
        {
          "date": "2026-03-06",
          "value": null
        },
        {
          "date": "2026-03-13",
          "value": null
        },
        {
          "date": "2026-03-20",
          "value": null
        },
        {
          "date": "2026-03-27",
          "value": null
        },
        {
          "date": "2026-04-03",
          "value": null
        },
        {
          "date": "2026-04-10",
          "value": null
        },
        {
          "date": "2026-04-17",
          "value": null
        },
        {
          "date": "2026-04-24",
          "value": null
        },
        {
          "date": "2026-05-01",
          "value": null
        },
        {
          "date": "2026-05-08",
          "value": null
        },
        {
          "date": "2026-05-15",
          "value": null
        },
        {
          "date": "2026-05-22",
          "value": null
        },
        {
          "date": "2026-05-29",
          "value": null
        },
        {
          "date": "2026-06-05",
          "value": null
        },
        {
          "date": "2026-06-12",
          "value": null
        },
        {
          "date": "2026-06-19",
          "value": null
        },
        {
          "date": "2026-06-26",
          "value": null
        },
        {
          "date": "2026-07-03",
          "value": null
        },
        {
          "date": "2026-07-10",
          "value": null
        },
        {
          "date": "2026-07-17",
          "value": null
        },
        {
          "date": "2026-07-24",
          "value": null
        },
        {
          "date": "2026-07-31",
          "value": null
        },
        {
          "date": "2026-08-07",
          "value": null
        }
      ],
      "80": [
        {
          "date": "2025-12-19",
          "value": null
        },
        {
          "date": "2025-12-26",
          "value": null
        },
        {
          "date": "2026-01-02",
          "value": null
        },
        {
          "date": "2026-01-09",
          "value": null
        },
        {
          "date": "2026-01-16",
          "value": null
        },
        {
          "date": "2026-01-23",
          "value": null
        },
        {
          "date": "2026-01-30",
          "value": null
        },
        {
          "date": "2026-02-06",
          "value": null
        },
        {
          "date": "2026-02-13",
          "value": null
        },
        {
          "date": "2026-02-20",
          "value": null
        },
        {
          "date": "2026-02-27",
          "value": null
        },
        {
          "date": "2026-03-06",
          "value": null
        },
        {
          "date": "2026-03-13",
          "value": null
        },
        {
          "date": "2026-03-20",
          "value": null
        },
        {
          "date": "2026-03-27",
          "value": null
        },
        {
          "date": "2026-04-03",
          "value": null
        },
        {
          "date": "2026-04-10",
          "value": null
        },
        {
          "date": "2026-04-17",
          "value": null
        },
        {
          "date": "2026-04-24",
          "value": null
        },
        {
          "date": "2026-05-01",
          "value": null
        },
        {
          "date": "2026-05-08",
          "value": null
        },
        {
          "date": "2026-05-15",
          "value": null
        },
        {
          "date": "2026-05-22",
          "value": null
        },
        {
          "date": "2026-05-29",
          "value": null
        },
        {
          "date": "2026-06-05",
          "value": null
        },
        {
          "date": "2026-06-12",
          "value": null
        },
        {
          "date": "2026-06-19",
          "value": null
        },
        {
          "date": "2026-06-26",
          "value": null
        },
        {
          "date": "2026-07-03",
          "value": null
        },
        {
          "date": "2026-07-10",
          "value": null
        },
        {
          "date": "2026-07-17",
          "value": null
        },
        {
          "date": "2026-07-24",
          "value": null
        },
        {
          "date": "2026-07-31",
          "value": null
        },
        {
          "date": "2026-08-07",
          "value": null
        }
      ]
    },
    "pivots": [
      {
        "index": 33,
        "date": "2026-08-07",
        "price": 9840.0,
        "kind": "low",
        "move_percent": null,
        "weeks": 0,
        "confirmed": false
      }
    ],
    "labels": []
  }
}