{
  "ticker": {
    "symbol": "CMOC",
    "name": "Invesco Bloomberg Commodity Carbon Tilted UCITS ETF USD",
    "exchange": "GER"
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    "method": "adaptive Hurst-style phasing with nominal harmonic bands, trough spacing, FLD and cyclic trend-line confirmation",
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              "label": "Wave 2 retracement is proportionate",
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              "label": "Wave 3 extension is plausible",
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              "label": "Waves 2 and 4 show temporal alternation",
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      },
      {
        "key": "primary",
        "label": "Primary",
        "reversal_percent": 5.291568779817894,
        "primary": {
          "id": "primary-bearish-wave2",
          "degree": "primary",
          "pattern": "impulse",
          "stage": "wave2",
          "title": "Possible bearish Wave 2 crest",
          "direction": "bearish",
          "score": 63,
          "rules": [
            {
              "label": "Wave 2 protects the Wave 1 origin",
              "passed": true,
              "detail": "Origin 7.01; Wave 2 6.88.",
              "hard": true
            }
          ],
          "guidelines": [
            {
              "label": "Wave 2 retracement is proportionate",
              "passed": true,
              "detail": "Retraced 84% of Wave 1.",
              "hard": false
            }
          ],
          "labels": [
            {
              "index": 146,
              "date": "2026-05-15",
              "price": 7.015,
              "kind": "high",
              "move_percent": 9.54091193004372,
              "weeks": 4,
              "confirmed": true,
              "label": "0"
            },
            {
              "index": 152,
              "date": "2026-06-26",
              "price": 6.167,
              "kind": "low",
              "move_percent": -12.08838203848895,
              "weeks": 6,
              "confirmed": true,
              "label": "1"
            },
            {
              "index": 156,
              "date": "2026-07-24",
              "price": 6.88,
              "kind": "high",
              "move_percent": 11.56153721420464,
              "weeks": 4,
              "confirmed": false,
              "label": "2"
            }
          ],
          "invalidation": 7.015,
          "confirmation": 6.167,
          "forming": true,
          "explanation": "A rule-valid motive interpretation. Fibonacci proportions and alternation improve the fit but are guidelines, not hard requirements.",
          "evidence_weight": 6
        },
        "candidate_count": 1,
        "explanation": "Primary degree uses a 5.3% weekly closing-price reversal threshold."
      },
      {
        "key": "tactical",
        "label": "Tactical",
        "reversal_percent": 3.7040981458725253,
        "primary": {
          "id": "tactical-bearish-wave2",
          "degree": "tactical",
          "pattern": "impulse",
          "stage": "wave2",
          "title": "Possible bearish Wave 2 crest",
          "direction": "bearish",
          "score": 63,
          "rules": [
            {
              "label": "Wave 2 protects the Wave 1 origin",
              "passed": true,
              "detail": "Origin 7.01; Wave 2 6.88.",
              "hard": true
            }
          ],
          "guidelines": [
            {
              "label": "Wave 2 retracement is proportionate",
              "passed": true,
              "detail": "Retraced 84% of Wave 1.",
              "hard": false
            }
          ],
          "labels": [
            {
              "index": 146,
              "date": "2026-05-15",
              "price": 7.015,
              "kind": "high",
              "move_percent": 9.54091193004372,
              "weeks": 4,
              "confirmed": true,
              "label": "0"
            },
            {
              "index": 152,
              "date": "2026-06-26",
              "price": 6.167,
              "kind": "low",
              "move_percent": -12.08838203848895,
              "weeks": 6,
              "confirmed": true,
              "label": "1"
            },
            {
              "index": 156,
              "date": "2026-07-24",
              "price": 6.88,
              "kind": "high",
              "move_percent": 11.56153721420464,
              "weeks": 4,
              "confirmed": false,
              "label": "2"
            }
          ],
          "invalidation": 7.015,
          "confirmation": 6.167,
          "forming": true,
          "explanation": "A rule-valid motive interpretation. Fibonacci proportions and alternation improve the fit but are guidelines, not hard requirements."
        },
        "candidate_count": 1,
        "explanation": "Tactical degree uses a 3.7% weekly closing-price reversal threshold."
      }
    ],
    "stability": {
      "score": 68,
      "changes": 2,
      "observations": 9,
      "label": "Moderate"
    },
    "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": "cycle_rollover",
    "title": "Possible bearish Wave 2 crest",
    "direction": "bearish",
    "confidence": 60,
    "score_explanation": "Rules agreement plus independent cycle, trend and participation confirmation; it is not a probability.",
    "candidate_id": "primary-bearish-wave2",
    "labels": [
      {
        "index": 146,
        "date": "2026-05-15",
        "price": 7.015,
        "kind": "high",
        "move_percent": 9.54091193004372,
        "weeks": 4,
        "confirmed": true,
        "label": "0"
      },
      {
        "index": 152,
        "date": "2026-06-26",
        "price": 6.167,
        "kind": "low",
        "move_percent": -12.08838203848895,
        "weeks": 6,
        "confirmed": true,
        "label": "1"
      },
      {
        "index": 156,
        "date": "2026-07-24",
        "price": 6.88,
        "kind": "high",
        "move_percent": 11.56153721420464,
        "weeks": 4,
        "confirmed": false,
        "label": "2"
      }
    ],
    "notes": [
      "Market Dynamics is negative."
    ],
    "metrics": {
      "trend_gap": 8.916475785793592,
      "fair_value_gap": 34.03590486801653,
      "market_activity": 8.376578,
      "market_dynamics": -0.788595,
      "relative_strength": 16.076634,
      "roc30": 31.851284016864696,
      "hurst_alignment": 100,
      "hurst_risk": 0
    }
  },
  "detail": {
    "summary": "The closing-price swing map is classified as possible bearish wave 2 crest. Price is 8.9% above its 30-week trend. 5 of 7 available confirmation measures are constructive.",
    "returns": [
      {
        "weeks": 4,
        "label": "4-week return",
        "value": 11.56153721420464
      },
      {
        "weeks": 13,
        "label": "13-week return",
        "value": 2.396189909212674
      },
      {
        "weeks": 26,
        "label": "26-week return",
        "value": 19.402985074626873
      },
      {
        "weeks": 52,
        "label": "52-week return",
        "value": 46.41413066609917
      }
    ],
    "range": {
      "high_52": 7.163,
      "low_52": 4.55,
      "position_52": 89.16953693073094,
      "drawdown": -3.950858578807767
    },
    "risk": {
      "annualised_volatility": 22.9872355014343,
      "average_weekly_range": 2.886519529537022,
      "active_drawdown": -1.9244476122594412
    },
    "levels": {
      "support": {
        "index": 152,
        "date": "2026-06-26",
        "price": 6.167,
        "kind": "low",
        "move_percent": -12.08838203848895,
        "weeks": 6,
        "confirmed": true
      },
      "resistance": {
        "index": 146,
        "date": "2026-05-15",
        "price": 7.015,
        "kind": "high",
        "move_percent": 9.54091193004372,
        "weeks": 4,
        "confirmed": true
      },
      "decisive": {
        "index": 146,
        "date": "2026-05-15",
        "price": 7.015,
        "kind": "high",
        "move_percent": 9.54091193004372,
        "weeks": 4,
        "confirmed": true
      },
      "decisive_label": "Bearish structure weakens above",
      "trend": 6.316767,
      "fair_value": 5.132953,
      "trend_gap": 8.916475785793592,
      "fair_value_gap": 34.03590486801653
    },
    "active_swing": {
      "from": {
        "index": 152,
        "date": "2026-06-26",
        "price": 6.167,
        "kind": "low",
        "move_percent": -12.08838203848895,
        "weeks": 6,
        "confirmed": true
      },
      "to": {
        "index": 156,
        "date": "2026-07-24",
        "price": 6.88,
        "kind": "high",
        "move_percent": 11.56153721420464,
        "weeks": 4,
        "confirmed": false
      },
      "move_percent": 11.56153721420464,
      "weeks": 4,
      "status": "Forming"
    },
    "confirmation": {
      "rows": [
        {
          "label": "Trend",
          "status": "positive",
          "value": "8.9% above trend",
          "explanation": "Price is holding above its 30-week trend."
        },
        {
          "label": "Cycle pressure",
          "status": "negative",
          "value": "Falling",
          "explanation": "The medium-term pressure curve is not rising."
        },
        {
          "label": "Cycle alignment",
          "status": "positive",
          "value": "Rising Stack",
          "explanation": "Several cycle lengths are improving together."
        },
        {
          "label": "Relative strength",
          "status": "positive",
          "value": "+16.1",
          "explanation": "Outperforming its benchmark"
        },
        {
          "label": "Market activity",
          "status": "positive",
          "value": "+8.4",
          "explanation": "Participation is supportive"
        },
        {
          "label": "Market dynamics",
          "status": "negative",
          "value": "-0.8",
          "explanation": "Price and volume behaviour is weak"
        },
        {
          "label": "30-week momentum",
          "status": "positive",
          "value": "+31.9",
          "explanation": "Medium-term momentum is positive"
        }
      ],
      "positive": 5,
      "negative": 2,
      "neutral": 0,
      "observed": 7,
      "agreement": 71,
      "direction": "constructive",
      "scenario_direction": "bearish"
    },
    "evidence": {
      "score": 86,
      "history_score": 60,
      "indicator_coverage": 100,
      "structure_score": 100,
      "weekly_observations": 157,
      "confirmed_pivots": 16
    },
    "volume_ratio": 37.89345013751655,
    "historical": {
      "available": false,
      "matches": 8,
      "horizons": [
        {
          "weeks": 4,
          "observations": 7,
          "positive_rate": 42.9,
          "median_return": -1.49,
          "bar_width": 7.45,
          "average_return": -1.45,
          "best_return": 4.12,
          "worst_return": -7.49
        },
        {
          "weeks": 13,
          "observations": 5,
          "positive_rate": 40.0,
          "median_return": -1.6,
          "bar_width": 8.0,
          "average_return": 0.56,
          "best_return": 15.42,
          "worst_return": -9.26
        },
        {
          "weeks": 26,
          "observations": 5,
          "positive_rate": 60.0,
          "median_return": 2.5,
          "bar_width": 12.5,
          "average_return": 6.52,
          "best_return": 38.49,
          "worst_return": -7.53
        }
      ],
      "note": "Overlapping historical matches are descriptive context, not independent observations or a forecast."
    },
    "lifecycle": {
      "state": "setup",
      "label": "Setup in timing window",
      "now": "Possible bearish Wave 2 crest is the highest-ranked admissible primary count; cycle status is rising stack.",
      "next": "A weekly close through 6.17, supported by an FLD cross and improving relative strength.",
      "wrong": "The underlying directional structure fails beyond 7.01; a forming endpoint can extend before that happens.",
      "risk": "The active endpoint can move until its reversal is confirmed; earnings, gaps and volatility can jump through technical levels.",
      "explanation": "The lifecycle separates an interesting setup from price confirmation, an active thesis, maturity and invalidation."
    },
    "peer_evidence": {
      "available": true,
      "peers": 22,
      "constructive_count": 11,
      "constructive_percent": 50,
      "rising_cycle_count": 3,
      "rising_cycle_percent": 14,
      "horizons": [
        {
          "weeks": 4,
          "observations": 490,
          "positive_rate": 54.7,
          "median_return": 0.47,
          "average_return": 0.51,
          "median_excess_return": -0.13,
          "excess_observations": 490,
          "p10": -3.81,
          "p90": 4.89
        },
        {
          "weeks": 13,
          "observations": 175,
          "positive_rate": 60.0,
          "median_return": 1.4,
          "average_return": 1.56,
          "median_excess_return": 0.23,
          "excess_observations": 175,
          "p10": -5.45,
          "p90": 9.01
        },
        {
          "weeks": 26,
          "observations": 91,
          "positive_rate": 65.9,
          "median_return": 2.41,
          "average_return": 3.48,
          "median_excess_return": -0.95,
          "excess_observations": 91,
          "p10": -8.06,
          "p90": 16.04
        }
      ],
      "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": 1.9622093023255782,
      "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": 28,
      "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": 5,
          "maximum": 20,
          "bar_width": 23,
          "explanation": "Price is 8.9% above the 30-week trend; large positive gaps increase snap-back vulnerability."
        },
        {
          "key": "range",
          "label": "Range position",
          "score": 9,
          "maximum": 15,
          "bar_width": 57,
          "explanation": "Price is 89% 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": 0,
          "maximum": 15,
          "bar_width": 0,
          "explanation": "Hurst risk alignment is 0/100."
        },
        {
          "key": "stability",
          "label": "Count instability",
          "score": 3,
          "maximum": 10,
          "bar_width": 32,
          "explanation": "The primary interpretation has moderate 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."
      ],
      "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."
    }
  },
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