{
  "ticker": {
    "symbol": "LDGL",
    "name": "L&G Global Quality Dividends UCITS ETF - USD Distributing ETF",
    "exchange": "GER"
  },
  "latest_week": "2026-07-31",
  "latest_close": 9.729,
  "latest_open": 9.799,
  "latest_high": 9.854,
  "latest_low": 9.66,
  "bar_count": 29,
  "analysis_bar_count": 29,
  "reversal_percent": 5.0,
  "model": {
    "version": "ewc-2.1.0",
    "as_of": "2026-07-31",
    "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": 0,
      "date": "2026-01-16",
      "price": 8.619795,
      "kind": "low",
      "move_percent": null,
      "weeks": 0,
      "confirmed": true
    },
    {
      "index": 28,
      "date": "2026-07-31",
      "price": 9.729,
      "kind": "high",
      "move_percent": 12.868113452814125,
      "weeks": 28,
      "confirmed": false
    }
  ],
  "cycle": {
    "phase": "rising",
    "trend_bias": "bearish",
    "oscillator": 4.872261244742637,
    "slope": 0.6845157190886937,
    "dominant_period_weeks": 40,
    "period_basis": "median confirmed trough-to-trough and crest-to-crest spacing",
    "weeks_since_turn": 28,
    "estimated_weeks_to_next_turn": 0,
    "series": [
      {
        "date": "2026-01-16",
        "value": null
      },
      {
        "date": "2026-01-23",
        "value": null
      },
      {
        "date": "2026-01-30",
        "value": null
      },
      {
        "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": 0.0
      },
      {
        "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": 0.7516513404376225
      },
      {
        "date": "2026-06-05",
        "value": 1.6477268294039726
      },
      {
        "date": "2026-06-12",
        "value": 2.6150478095088356
      },
      {
        "date": "2026-06-19",
        "value": 3.4822620785986573
      },
      {
        "date": "2026-06-26",
        "value": 3.760267144016805
      },
      {
        "date": "2026-07-03",
        "value": 4.187745525653943
      },
      {
        "date": "2026-07-10",
        "value": 4.29375163963626
      },
      {
        "date": "2026-07-17",
        "value": 4.537135193844068
      },
      {
        "date": "2026-07-24",
        "value": 4.963727615002954
      },
      {
        "date": "2026-07-31",
        "value": 4.872261244742637
      }
    ]
  },
  "hurst": {
    "status": "mixed",
    "phase": "cresting",
    "alignment_score": 50,
    "risk_score": 50,
    "trough_alignment": 0,
    "crest_alignment": 0,
    "nearest_trough_window": 14,
    "nearest_crest_window": 19,
    "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": 8,
        "period_range": [
          6,
          10
        ],
        "period_strength": 0,
        "phase": "cresting",
        "value": 1.010644519514872,
        "slope": -0.07789945198426196,
        "amplitude": 1.775,
        "weeks_since_trough": 2,
        "weeks_since_crest": 4,
        "projected_trough_window": 6,
        "projected_crest_window": 4,
        "trough_window": {
          "start": 4,
          "midpoint": 6,
          "end": 8
        },
        "crest_window": {
          "start": 2,
          "midpoint": 4,
          "end": 6
        },
        "fld": {
          "value": 9.5316305,
          "state": "crossed up",
          "weeks_since_cross": 16,
          "displacement": 4,
          "explanation": "Median price displaced forward by half the estimated wavelength; a price cross confirms a cyclic turn after it begins."
        },
        "vtl": {
          "available": true,
          "value": 9.639021285714286,
          "state": "price above",
          "slope": 0.04472414285714293,
          "explanation": "A provisional line through the latest two phased troughs; it is supporting evidence, not a standalone signal."
        },
        "trough_indexes": [
          9,
          19,
          26
        ],
        "series": [
          {
            "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": -0.08381257915420637
          },
          {
            "date": "2026-03-20",
            "value": -2.0279375263847355
          },
          {
            "date": "2026-03-27",
            "value": -1.970192216838685
          },
          {
            "date": "2026-04-03",
            "value": -1.323397405612895
          },
          {
            "date": "2026-04-10",
            "value": -0.1802534801821316
          },
          {
            "date": "2026-04-17",
            "value": 0.721136527464936
          },
          {
            "date": "2026-04-24",
            "value": 0.8609603250759189
          },
          {
            "date": "2026-05-01",
            "value": 0.953653441691973
          },
          {
            "date": "2026-05-08",
            "value": 1.005190454112387
          },
          {
            "date": "2026-05-15",
            "value": 0.9436096017016473
          },
          {
            "date": "2026-05-22",
            "value": 1.0271959092483147
          },
          {
            "date": "2026-05-29",
            "value": 0.8395854740110136
          },
          {
            "date": "2026-06-05",
            "value": 0.8875552177833371
          },
          {
            "date": "2026-06-12",
            "value": 1.0286541811719225
          },
          {
            "date": "2026-06-19",
            "value": 1.0078959487385928
          },
          {
            "date": "2026-06-26",
            "value": 1.0664896135983981
          },
          {
            "date": "2026-07-03",
            "value": 1.2696021822636538
          },
          {
            "date": "2026-07-10",
            "value": 1.088543971499134
          },
          {
            "date": "2026-07-17",
            "value": 0.9215859795629356
          },
          {
            "date": "2026-07-24",
            "value": 1.0990866016066434
          },
          {
            "date": "2026-07-31",
            "value": 1.010644519514872
          }
        ]
      },
      {
        "period": 20,
        "label": "20w",
        "estimated_period": 20,
        "period_range": [
          15,
          25
        ],
        "period_strength": 0,
        "phase": "rising",
        "value": 1.2453901282256254,
        "slope": 0.01774819662842475,
        "amplitude": 4.124,
        "weeks_since_trough": 6,
        "weeks_since_crest": 1,
        "projected_trough_window": 14,
        "projected_crest_window": 19,
        "trough_window": {
          "start": 9,
          "midpoint": 14,
          "end": 19
        },
        "crest_window": {
          "start": 14,
          "midpoint": 19,
          "end": 24
        },
        "fld": {
          "value": 9.178694499999999,
          "state": "crossed up",
          "weeks_since_cross": 11,
          "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": [
          22
        ],
        "series": [
          {
            "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": 1.0
          },
          {
            "date": "2026-06-05",
            "value": 1.0305559707935859
          },
          {
            "date": "2026-06-12",
            "value": 1.0682279403888053
          },
          {
            "date": "2026-06-19",
            "value": 1.0452375915463483
          },
          {
            "date": "2026-06-26",
            "value": 1.0711462982988436
          },
          {
            "date": "2026-07-03",
            "value": 1.212081424351289
          },
          {
            "date": "2026-07-10",
            "value": 1.2276419315972007
          },
          {
            "date": "2026-07-17",
            "value": 1.2076602789821147
          },
          {
            "date": "2026-07-24",
            "value": 1.29726297942091
          },
          {
            "date": "2026-07-31",
            "value": 1.2453901282256254
          }
        ]
      },
      {
        "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": 8.828588,
          "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": "2026-01-16",
            "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
          }
        ]
      },
      {
        "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": "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
          }
        ]
      }
    ],
    "composite": [
      {
        "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": -0.08381257915420637
      },
      {
        "date": "2026-03-20",
        "value": -2.0279375263847355
      },
      {
        "date": "2026-03-27",
        "value": -1.970192216838685
      },
      {
        "date": "2026-04-03",
        "value": -1.323397405612895
      },
      {
        "date": "2026-04-10",
        "value": -0.1802534801821316
      },
      {
        "date": "2026-04-17",
        "value": 0.721136527464936
      },
      {
        "date": "2026-04-24",
        "value": 0.860960325075919
      },
      {
        "date": "2026-05-01",
        "value": 0.9536534416919731
      },
      {
        "date": "2026-05-08",
        "value": 1.005190454112387
      },
      {
        "date": "2026-05-15",
        "value": 0.9436096017016473
      },
      {
        "date": "2026-05-22",
        "value": 1.0271959092483147
      },
      {
        "date": "2026-05-29",
        "value": 0.9358341896044053
      },
      {
        "date": "2026-06-05",
        "value": 0.9733556695894863
      },
      {
        "date": "2026-06-12",
        "value": 1.0523984367020522
      },
      {
        "date": "2026-06-19",
        "value": 1.030300934423246
      },
      {
        "date": "2026-06-26",
        "value": 1.0692836244186654
      },
      {
        "date": "2026-07-03",
        "value": 1.2350897275162347
      },
      {
        "date": "2026-07-10",
        "value": 1.172002747557974
      },
      {
        "date": "2026-07-17",
        "value": 1.0932305592144431
      },
      {
        "date": "2026-07-24",
        "value": 1.2179924282952033
      },
      {
        "date": "2026-07-31",
        "value": 1.151491884741324
      }
    ]
  },
  "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. 2 of 3 available confirmation measures are constructive.",
    "returns": [
      {
        "weeks": 4,
        "label": "4-week return",
        "value": 0.8576790231577537
      },
      {
        "weeks": 13,
        "label": "13-week return",
        "value": 6.981402455920885
      },
      {
        "weeks": 26,
        "label": "26-week return",
        "value": 12.77800665423854
      },
      {
        "weeks": 52,
        "label": "52-week return",
        "value": null
      }
    ],
    "range": {
      "high_52": 9.925376,
      "low_52": 8.416502,
      "position_52": 86.98526185751754,
      "drawdown": -1.9785245415387869
    },
    "risk": {
      "annualised_volatility": 11.788105628011339,
      "average_weekly_range": 2.1887571128330934,
      "active_drawdown": -0.38906521961708057
    },
    "levels": {
      "support": {
        "index": 0,
        "date": "2026-01-16",
        "price": 8.619795,
        "kind": "low",
        "move_percent": null,
        "weeks": 0,
        "confirmed": true
      },
      "resistance": null,
      "decisive": {
        "index": 0,
        "date": "2026-01-16",
        "price": 8.619795,
        "kind": "low",
        "move_percent": null,
        "weeks": 0,
        "confirmed": true
      },
      "decisive_label": "Nearest confirmed structure level",
      "trend": null,
      "fair_value": 9.165543,
      "trend_gap": null,
      "fair_value_gap": 6.147557215104437
    },
    "active_swing": {
      "from": {
        "index": 0,
        "date": "2026-01-16",
        "price": 8.619795,
        "kind": "low",
        "move_percent": null,
        "weeks": 0,
        "confirmed": true
      },
      "to": {
        "index": 28,
        "date": "2026-07-31",
        "price": 9.729,
        "kind": "high",
        "move_percent": 12.868113452814125,
        "weeks": 28,
        "confirmed": false
      },
      "move_percent": 12.868113452814125,
      "weeks": 28,
      "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": "Rising",
          "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": "positive",
          "value": "+0.3",
          "explanation": "Price and volume behaviour is supportive"
        },
        {
          "label": "30-week momentum",
          "status": "neutral",
          "value": "Unavailable",
          "explanation": "The reading is neutral or unavailable."
        }
      ],
      "positive": 2,
      "negative": 0,
      "neutral": 1,
      "observed": 3,
      "agreement": 67,
      "direction": "constructive",
      "scenario_direction": "neutral"
    },
    "evidence": {
      "score": 23,
      "history_score": 11,
      "indicator_coverage": 34,
      "structure_score": 17,
      "weekly_observations": 29,
      "confirmed_pivots": 1
    },
    "volume_ratio": 137.2036406411004,
    "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": 22,
      "constructive_count": 12,
      "constructive_percent": 55,
      "rising_cycle_count": 1,
      "rising_cycle_percent": 5,
      "horizons": [
        {
          "weeks": 4,
          "observations": 0,
          "positive_rate": null,
          "median_return": null,
          "average_return": null,
          "median_excess_return": null,
          "excess_observations": 0,
          "p10": null,
          "p90": null
        },
        {
          "weeks": 13,
          "observations": 0,
          "positive_rate": null,
          "median_return": null,
          "average_return": null,
          "median_excess_return": null,
          "excess_observations": 0,
          "p10": null,
          "p90": null
        },
        {
          "weeks": 26,
          "observations": 0,
          "positive_rate": null,
          "median_return": null,
          "average_return": null,
          "median_excess_return": null,
          "excess_observations": 0,
          "p10": null,
          "p90": null
        }
      ],
      "benchmark": "^GDAXI",
      "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 0.0% above the 30-week trend; large positive gaps increase snap-back vulnerability."
        },
        {
          "key": "range",
          "label": "Range position",
          "score": 7,
          "maximum": 15,
          "bar_width": 48,
          "explanation": "Price is 87% of the way through its 52-week low-to-high range."
        },
        {
          "key": "cycle",
          "label": "Cycle rollover",
          "score": 0,
          "maximum": 15,
          "bar_width": 0,
          "explanation": "Medium-term cycle pressure is rising."
        },
        {
          "key": "hurst",
          "label": "Multi-cycle risk",
          "score": 8,
          "maximum": 15,
          "bar_width": 50,
          "explanation": "Hurst risk alignment is 50/100."
        },
        {
          "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": [
        "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": [
      "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"
    ],
    "close": [
      8.619795,
      8.550941,
      8.626682,
      8.982766,
      9.130061,
      9.283018,
      9.278085,
      9.01263,
      8.875944,
      8.606616,
      8.614537,
      8.870002,
      9.111986,
      9.218286,
      9.038469,
      9.094104,
      9.133842,
      9.165737,
      9.31026,
      9.259428,
      9.349132,
      9.419987,
      9.424971,
      9.511694,
      9.646266,
      9.56951,
      9.6,
      9.767,
      9.729
    ],
    "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
    ],
    "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
    ],
    "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
    ],
    "drawdown": [
      0.0,
      -0.7987892983533827,
      0.0,
      0.0,
      0.0,
      0.0,
      -0.05314004561877839,
      -2.9127165324897626,
      -4.38514715796091,
      -7.28644499019607,
      -7.201117136689812,
      -4.449156513539031,
      -1.8424180584374639,
      -0.6973163253588364,
      -2.6343695552459447,
      -2.035049377260719,
      -1.6069773860182177,
      -1.263393004300974,
      0.0,
      -0.5459783078023575,
      0.0,
      0.0,
      0.0,
      0.0,
      0.0,
      -0.7957068569330492,
      -0.4796260024345278,
      0.0,
      -0.38906521961708057
    ],
    "volatility": [
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      14.699960262026332,
      15.881115980827145,
      15.067267973596058,
      15.613442877123784,
      15.722496669256255,
      15.161940980184438,
      15.32498550390746,
      14.812372164946133,
      14.342377299822964,
      13.914263931943035,
      13.665855140010589,
      13.397106833897693,
      13.089021957290218,
      12.78390240819291,
      12.503457682768243,
      12.250567905469449,
      12.074044301513023,
      11.967484960972005,
      11.73615082181252,
      11.73324015894388,
      11.788105628011339
    ],
    "volumeRatio": [
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      162.72448105505808,
      102.91031400044666,
      122.46597203456369,
      85.83445396260471,
      157.8141479838128,
      175.38280675402106,
      144.1182346680806,
      135.32711666311315,
      185.50188784542803,
      112.68268797623013,
      84.1326676672393,
      117.96695149828042,
      24.721264348176277,
      13.52970176141835,
      19.34313116488042,
      38.67626655909106,
      111.66609621238312,
      141.51471087318947,
      111.52678279072971,
      142.7406076107562,
      137.2036406411004
    ],
    "fairValue": [
      8.619795,
      8.585368,
      8.599139,
      8.695046,
      8.782049,
      8.865544,
      8.924478,
      8.935497,
      8.92888,
      8.896654,
      8.871007,
      8.870923,
      8.889466,
      8.912954,
      8.921321,
      8.93212,
      8.943986,
      8.956306,
      8.974935,
      8.989159,
      9.006301,
      9.025105,
      9.04249,
      9.062041,
      9.08541,
      9.104029,
      9.122398,
      9.14542,
      9.165543
    ],
    "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
    ],
    "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,
      0.0,
      0.0,
      0.0,
      0.0,
      null,
      null,
      null,
      null,
      null,
      0.273409
    ],
    "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
    ],
    "cycle": [
      {
        "date": "2026-01-16",
        "value": null
      },
      {
        "date": "2026-01-23",
        "value": null
      },
      {
        "date": "2026-01-30",
        "value": null
      },
      {
        "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": 0.0
      },
      {
        "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": 0.7516513404376225
      },
      {
        "date": "2026-06-05",
        "value": 1.6477268294039726
      },
      {
        "date": "2026-06-12",
        "value": 2.6150478095088356
      },
      {
        "date": "2026-06-19",
        "value": 3.4822620785986573
      },
      {
        "date": "2026-06-26",
        "value": 3.760267144016805
      },
      {
        "date": "2026-07-03",
        "value": 4.187745525653943
      },
      {
        "date": "2026-07-10",
        "value": 4.29375163963626
      },
      {
        "date": "2026-07-17",
        "value": 4.537135193844068
      },
      {
        "date": "2026-07-24",
        "value": 4.963727615002954
      },
      {
        "date": "2026-07-31",
        "value": 4.872261244742637
      }
    ],
    "hurstComposite": [
      {
        "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": -0.08381257915420637
      },
      {
        "date": "2026-03-20",
        "value": -2.0279375263847355
      },
      {
        "date": "2026-03-27",
        "value": -1.970192216838685
      },
      {
        "date": "2026-04-03",
        "value": -1.323397405612895
      },
      {
        "date": "2026-04-10",
        "value": -0.1802534801821316
      },
      {
        "date": "2026-04-17",
        "value": 0.721136527464936
      },
      {
        "date": "2026-04-24",
        "value": 0.860960325075919
      },
      {
        "date": "2026-05-01",
        "value": 0.9536534416919731
      },
      {
        "date": "2026-05-08",
        "value": 1.005190454112387
      },
      {
        "date": "2026-05-15",
        "value": 0.9436096017016473
      },
      {
        "date": "2026-05-22",
        "value": 1.0271959092483147
      },
      {
        "date": "2026-05-29",
        "value": 0.9358341896044053
      },
      {
        "date": "2026-06-05",
        "value": 0.9733556695894863
      },
      {
        "date": "2026-06-12",
        "value": 1.0523984367020522
      },
      {
        "date": "2026-06-19",
        "value": 1.030300934423246
      },
      {
        "date": "2026-06-26",
        "value": 1.0692836244186654
      },
      {
        "date": "2026-07-03",
        "value": 1.2350897275162347
      },
      {
        "date": "2026-07-10",
        "value": 1.172002747557974
      },
      {
        "date": "2026-07-17",
        "value": 1.0932305592144431
      },
      {
        "date": "2026-07-24",
        "value": 1.2179924282952033
      },
      {
        "date": "2026-07-31",
        "value": 1.151491884741324
      }
    ],
    "hurstCycles": {
      "10": [
        {
          "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": -0.08381257915420637
        },
        {
          "date": "2026-03-20",
          "value": -2.0279375263847355
        },
        {
          "date": "2026-03-27",
          "value": -1.970192216838685
        },
        {
          "date": "2026-04-03",
          "value": -1.323397405612895
        },
        {
          "date": "2026-04-10",
          "value": -0.1802534801821316
        },
        {
          "date": "2026-04-17",
          "value": 0.721136527464936
        },
        {
          "date": "2026-04-24",
          "value": 0.8609603250759189
        },
        {
          "date": "2026-05-01",
          "value": 0.953653441691973
        },
        {
          "date": "2026-05-08",
          "value": 1.005190454112387
        },
        {
          "date": "2026-05-15",
          "value": 0.9436096017016473
        },
        {
          "date": "2026-05-22",
          "value": 1.0271959092483147
        },
        {
          "date": "2026-05-29",
          "value": 0.8395854740110136
        },
        {
          "date": "2026-06-05",
          "value": 0.8875552177833371
        },
        {
          "date": "2026-06-12",
          "value": 1.0286541811719225
        },
        {
          "date": "2026-06-19",
          "value": 1.0078959487385928
        },
        {
          "date": "2026-06-26",
          "value": 1.0664896135983981
        },
        {
          "date": "2026-07-03",
          "value": 1.2696021822636538
        },
        {
          "date": "2026-07-10",
          "value": 1.088543971499134
        },
        {
          "date": "2026-07-17",
          "value": 0.9215859795629356
        },
        {
          "date": "2026-07-24",
          "value": 1.0990866016066434
        },
        {
          "date": "2026-07-31",
          "value": 1.010644519514872
        }
      ],
      "20": [
        {
          "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": 1.0
        },
        {
          "date": "2026-06-05",
          "value": 1.0305559707935859
        },
        {
          "date": "2026-06-12",
          "value": 1.0682279403888053
        },
        {
          "date": "2026-06-19",
          "value": 1.0452375915463483
        },
        {
          "date": "2026-06-26",
          "value": 1.0711462982988436
        },
        {
          "date": "2026-07-03",
          "value": 1.212081424351289
        },
        {
          "date": "2026-07-10",
          "value": 1.2276419315972007
        },
        {
          "date": "2026-07-17",
          "value": 1.2076602789821147
        },
        {
          "date": "2026-07-24",
          "value": 1.29726297942091
        },
        {
          "date": "2026-07-31",
          "value": 1.2453901282256254
        }
      ],
      "40": [
        {
          "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
        }
      ],
      "80": [
        {
          "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
        }
      ]
    },
    "pivots": [
      {
        "index": 0,
        "date": "2026-01-16",
        "price": 8.619795,
        "kind": "low",
        "move_percent": null,
        "weeks": 0,
        "confirmed": true
      },
      {
        "index": 28,
        "date": "2026-07-31",
        "price": 9.729,
        "kind": "high",
        "move_percent": 12.868113452814125,
        "weeks": 28,
        "confirmed": false
      }
    ],
    "labels": []
  }
}