{
  "ticker": {
    "symbol": "0154F0",
    "name": "Won Korea Ib & Financial Group Top10 Etf",
    "exchange": "KSC"
  },
  "latest_week": "2026-08-07",
  "latest_close": 12385.0,
  "latest_open": 11985.0,
  "latest_high": 12420.0,
  "latest_low": 11740.0,
  "bar_count": 29,
  "analysis_bar_count": 29,
  "reversal_percent": 12.49506842407035,
  "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": 0,
      "date": "2026-01-23",
      "price": 10697.276367,
      "kind": "low",
      "move_percent": null,
      "weeks": 0,
      "confirmed": true
    },
    {
      "index": 28,
      "date": "2026-08-07",
      "price": 12385.0,
      "kind": "high",
      "move_percent": 15.777134058221154,
      "weeks": 28,
      "confirmed": false
    }
  ],
  "cycle": {
    "phase": "troughing",
    "trend_bias": "bearish",
    "oscillator": -6.594417642832173,
    "slope": 1.9044275362942642,
    "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": "2026-01-23",
        "value": null
      },
      {
        "date": "2026-01-30",
        "value": null
      },
      {
        "date": "2026-02-06",
        "value": null
      },
      {
        "date": "2026-02-13",
        "value": 0.0
      },
      {
        "date": "2026-02-20",
        "value": 0.0
      },
      {
        "date": "2026-02-27",
        "value": 0.0
      },
      {
        "date": "2026-03-06",
        "value": 0.0
      },
      {
        "date": "2026-03-13",
        "value": 0.0
      },
      {
        "date": "2026-03-20",
        "value": 0.0
      },
      {
        "date": "2026-03-27",
        "value": 0.0
      },
      {
        "date": "2026-04-03",
        "value": 0.0
      },
      {
        "date": "2026-04-10",
        "value": 0.0
      },
      {
        "date": "2026-04-17",
        "value": 0.0
      },
      {
        "date": "2026-04-24",
        "value": 0.0
      },
      {
        "date": "2026-05-01",
        "value": 0.0
      },
      {
        "date": "2026-05-08",
        "value": 0.0
      },
      {
        "date": "2026-05-15",
        "value": 0.0
      },
      {
        "date": "2026-05-22",
        "value": 0.0
      },
      {
        "date": "2026-05-29",
        "value": 0.0
      },
      {
        "date": "2026-06-05",
        "value": -0.6972419132729196
      },
      {
        "date": "2026-06-12",
        "value": -2.15703175205335
      },
      {
        "date": "2026-06-19",
        "value": -4.034037978742418
      },
      {
        "date": "2026-06-26",
        "value": -8.340243563263314
      },
      {
        "date": "2026-07-03",
        "value": -8.997347120538135
      },
      {
        "date": "2026-07-10",
        "value": -8.498845179126437
      },
      {
        "date": "2026-07-17",
        "value": -7.582944550718775
      },
      {
        "date": "2026-07-24",
        "value": -4.977168170048855
      },
      {
        "date": "2026-07-31",
        "value": -5.880897158767695
      },
      {
        "date": "2026-08-07",
        "value": -6.594417642832173
      }
    ]
  },
  "hurst": {
    "status": "mixed",
    "phase": "troughing",
    "alignment_score": 25,
    "risk_score": 75,
    "trough_alignment": 0,
    "crest_alignment": 0,
    "nearest_trough_window": 14,
    "nearest_crest_window": 17,
    "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": "falling",
        "value": -0.7180291333675235,
        "slope": -0.6669664759433886,
        "amplitude": 2.297,
        "weeks_since_trough": 1,
        "weeks_since_crest": 3,
        "projected_trough_window": 7,
        "projected_crest_window": 5,
        "trough_window": {
          "start": 5,
          "midpoint": 7,
          "end": 9
        },
        "crest_window": {
          "start": 3,
          "midpoint": 5,
          "end": 7
        },
        "fld": {
          "value": 12825.0,
          "state": "crossed down",
          "weeks_since_cross": 1,
          "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": 11012.0,
          "state": "price above",
          "slope": -13.0,
          "explanation": "A provisional line through the latest two phased troughs; it is supporting evidence, not a standalone signal."
        },
        "trough_indexes": [
          10,
          14,
          22,
          27
        ],
        "series": [
          {
            "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": 1.0
          },
          {
            "date": "2026-03-20",
            "value": 1.120910317599957
          },
          {
            "date": "2026-03-27",
            "value": 0.04926529476828878
          },
          {
            "date": "2026-04-03",
            "value": -1.983578235077237
          },
          {
            "date": "2026-04-10",
            "value": -1.3278594116924123
          },
          {
            "date": "2026-04-17",
            "value": 0.6809048560925413
          },
          {
            "date": "2026-04-24",
            "value": 1.3708305237657659
          },
          {
            "date": "2026-05-01",
            "value": 0.8444404213632157
          },
          {
            "date": "2026-05-08",
            "value": 1.8152729017095552
          },
          {
            "date": "2026-05-15",
            "value": 0.707502265371122
          },
          {
            "date": "2026-05-22",
            "value": -0.1379479130426151
          },
          {
            "date": "2026-05-29",
            "value": -2.045982637680871
          },
          {
            "date": "2026-06-05",
            "value": -2.4616817861318823
          },
          {
            "date": "2026-06-12",
            "value": -2.333487101890399
          },
          {
            "date": "2026-06-19",
            "value": -2.0503262346008024
          },
          {
            "date": "2026-06-26",
            "value": -2.6834420782002675
          },
          {
            "date": "2026-07-03",
            "value": -1.6631058589796561
          },
          {
            "date": "2026-07-10",
            "value": -0.6645752418477435
          },
          {
            "date": "2026-07-17",
            "value": -0.05106265742413485
          },
          {
            "date": "2026-07-24",
            "value": -0.26305875594687
          },
          {
            "date": "2026-07-31",
            "value": -0.7543529186489566
          },
          {
            "date": "2026-08-07",
            "value": -0.7180291333675235
          }
        ]
      },
      {
        "period": 20,
        "label": "20w",
        "estimated_period": 20,
        "period_range": [
          15,
          25
        ],
        "period_strength": 0,
        "phase": "falling",
        "value": -1.1725908032495516,
        "slope": -0.20268237084467278,
        "amplitude": 6.04,
        "weeks_since_trough": 6,
        "weeks_since_crest": 3,
        "projected_trough_window": 14,
        "projected_crest_window": 17,
        "trough_window": {
          "start": 9,
          "midpoint": 14,
          "end": 19
        },
        "crest_window": {
          "start": 12,
          "midpoint": 17,
          "end": 22
        },
        "fld": {
          "value": 13387.5,
          "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": [
          22
        ],
        "series": [
          {
            "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": -1.0
          },
          {
            "date": "2026-06-12",
            "value": -1.1431403783598737
          },
          {
            "date": "2026-06-19",
            "value": -1.294500230178783
          },
          {
            "date": "2026-06-26",
            "value": -1.9399351433439274
          },
          {
            "date": "2026-07-03",
            "value": -1.6044744128164066
          },
          {
            "date": "2026-07-10",
            "value": -1.215722236444213
          },
          {
            "date": "2026-07-17",
            "value": -0.9699084324048788
          },
          {
            "date": "2026-07-24",
            "value": -0.9895827420928868
          },
          {
            "date": "2026-07-31",
            "value": -1.172153604896598
          },
          {
            "date": "2026-08-07",
            "value": -1.1725908032495516
          }
        ]
      },
      {
        "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": 13739.959278,
          "state": "crossed down",
          "weeks_since_cross": 6,
          "displacement": 20,
          "explanation": "Median price displaced forward by half the estimated wavelength; a price cross confirms a cyclic turn after it begins."
        },
        "vtl": {
          "available": false,
          "value": null,
          "state": "unavailable"
        },
        "trough_indexes": [],
        "series": [
          {
            "date": "2026-01-23",
            "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": "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": "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": 1.0
      },
      {
        "date": "2026-03-20",
        "value": 1.120910317599957
      },
      {
        "date": "2026-03-27",
        "value": 0.049265294768288774
      },
      {
        "date": "2026-04-03",
        "value": -1.9835782350772373
      },
      {
        "date": "2026-04-10",
        "value": -1.3278594116924123
      },
      {
        "date": "2026-04-17",
        "value": 0.6809048560925413
      },
      {
        "date": "2026-04-24",
        "value": 1.3708305237657659
      },
      {
        "date": "2026-05-01",
        "value": 0.8444404213632157
      },
      {
        "date": "2026-05-08",
        "value": 1.8152729017095552
      },
      {
        "date": "2026-05-15",
        "value": 0.707502265371122
      },
      {
        "date": "2026-05-22",
        "value": -0.1379479130426151
      },
      {
        "date": "2026-05-29",
        "value": -2.045982637680871
      },
      {
        "date": "2026-06-05",
        "value": -1.5846727144527528
      },
      {
        "date": "2026-06-12",
        "value": -1.6192790677720839
      },
      {
        "date": "2026-06-19",
        "value": -1.5968306319475905
      },
      {
        "date": "2026-06-26",
        "value": -2.237337917286463
      },
      {
        "date": "2026-07-03",
        "value": -1.6279269912817063
      },
      {
        "date": "2026-07-10",
        "value": -0.995263438605625
      },
      {
        "date": "2026-07-17",
        "value": -0.6023701224125813
      },
      {
        "date": "2026-07-24",
        "value": -0.6989731476344799
      },
      {
        "date": "2026-07-31",
        "value": -1.0050333303975414
      },
      {
        "date": "2026-08-07",
        "value": -0.9907661352967403
      }
    ]
  },
  "structure": {
    "primary": {
      "id": "tactical-bullish-wave2",
      "degree": "tactical",
      "pattern": "impulse",
      "stage": "wave2",
      "title": "Possible Wave 2 trough",
      "direction": "bullish",
      "score": 63,
      "rules": [
        {
          "label": "Wave 2 protects the Wave 1 origin",
          "passed": true,
          "detail": "Origin 11400.00; Wave 2 12385.00.",
          "hard": true
        }
      ],
      "guidelines": [
        {
          "label": "Wave 2 retracement is proportionate",
          "passed": true,
          "detail": "Retraced 37% of Wave 1.",
          "hard": false
        }
      ],
      "labels": [
        {
          "index": 22,
          "date": "2026-06-26",
          "price": 11400.0,
          "kind": "low",
          "move_percent": -10.76320939334638,
          "weeks": 1,
          "confirmed": true,
          "label": "0"
        },
        {
          "index": 23,
          "date": "2026-07-03",
          "price": 12955.0,
          "kind": "high",
          "move_percent": 13.640350877192983,
          "weeks": 1,
          "confirmed": true,
          "label": "1"
        },
        {
          "index": 28,
          "date": "2026-08-07",
          "price": 12385.0,
          "kind": "low",
          "move_percent": -4.399845619451949,
          "weeks": 5,
          "confirmed": false,
          "label": "2"
        }
      ],
      "invalidation": 11400.0,
      "confirmation": 12955.0,
      "forming": true,
      "explanation": "A rule-valid motive interpretation. Fibonacci proportions and alternation improve the fit but are guidelines, not hard requirements.",
      "evidence_weight": 100
    },
    "alternates": [],
    "degrees": [
      {
        "key": "strategic",
        "label": "Strategic",
        "reversal_percent": 19.99210947851256,
        "primary": null,
        "candidate_count": 0,
        "explanation": "Strategic degree uses a 20.0% weekly closing-price reversal threshold."
      },
      {
        "key": "primary",
        "label": "Primary",
        "reversal_percent": 12.49506842407035,
        "primary": null,
        "candidate_count": 0,
        "explanation": "Primary degree uses a 12.5% weekly closing-price reversal threshold."
      },
      {
        "key": "tactical",
        "label": "Tactical",
        "reversal_percent": 8.746547896849245,
        "primary": {
          "id": "tactical-bullish-wave2",
          "degree": "tactical",
          "pattern": "impulse",
          "stage": "wave2",
          "title": "Possible Wave 2 trough",
          "direction": "bullish",
          "score": 63,
          "rules": [
            {
              "label": "Wave 2 protects the Wave 1 origin",
              "passed": true,
              "detail": "Origin 11400.00; Wave 2 12385.00.",
              "hard": true
            }
          ],
          "guidelines": [
            {
              "label": "Wave 2 retracement is proportionate",
              "passed": true,
              "detail": "Retraced 37% of Wave 1.",
              "hard": false
            }
          ],
          "labels": [
            {
              "index": 22,
              "date": "2026-06-26",
              "price": 11400.0,
              "kind": "low",
              "move_percent": -10.76320939334638,
              "weeks": 1,
              "confirmed": true,
              "label": "0"
            },
            {
              "index": 23,
              "date": "2026-07-03",
              "price": 12955.0,
              "kind": "high",
              "move_percent": 13.640350877192983,
              "weeks": 1,
              "confirmed": true,
              "label": "1"
            },
            {
              "index": 28,
              "date": "2026-08-07",
              "price": 12385.0,
              "kind": "low",
              "move_percent": -4.399845619451949,
              "weeks": 5,
              "confirmed": false,
              "label": "2"
            }
          ],
          "invalidation": 11400.0,
          "confirmation": 12955.0,
          "forming": true,
          "explanation": "A rule-valid motive interpretation. Fibonacci proportions and alternation improve the fit but are guidelines, not hard requirements.",
          "evidence_weight": 100
        },
        "candidate_count": 1,
        "explanation": "Tactical degree uses a 8.7% weekly closing-price reversal threshold."
      }
    ],
    "stability": {
      "score": 0,
      "changes": null,
      "observations": 0,
      "label": "Unavailable"
    },
    "method": "constraint-based Elliott candidate enumeration",
    "explanation": "Counts must pass hard Elliott geometry rules. Fibonacci relationships, alternation and cycle evidence rank admissible interpretations; evidence weights compare scenarios and are not forecast probabilities."
  },
  "scenario": {
    "setup": "warming",
    "title": "Needs more weekly history",
    "direction": "neutral",
    "confidence": 20,
    "labels": [],
    "notes": [
      "At least 65 weekly bars gives the wave and cycle model enough context."
    ],
    "metrics": {}
  },
  "detail": {
    "summary": "The closing-price swing map is classified as needs more weekly history. 1 of 3 available confirmation measures are constructive.",
    "returns": [
      {
        "weeks": 4,
        "label": "4-week return",
        "value": -5.023006134969325
      },
      {
        "weeks": 13,
        "label": "13-week return",
        "value": -17.157190635451506
      },
      {
        "weeks": 26,
        "label": "26-week return",
        "value": 1.5556165025554896
      },
      {
        "weeks": 52,
        "label": "52-week return",
        "value": null
      }
    ],
    "range": {
      "high_52": 15952.596284,
      "low_52": 9921.257087,
      "position_52": 40.84901930611813,
      "drawdown": -22.36373453252996
    },
    "risk": {
      "annualised_volatility": 48.76087701976221,
      "average_weekly_range": 8.003075652401105,
      "active_drawdown": -21.371192986966822
    },
    "levels": {
      "support": {
        "index": 0,
        "date": "2026-01-23",
        "price": 10697.276367,
        "kind": "low",
        "move_percent": null,
        "weeks": 0,
        "confirmed": true
      },
      "resistance": null,
      "decisive": {
        "index": 0,
        "date": "2026-01-23",
        "price": 10697.276367,
        "kind": "low",
        "move_percent": null,
        "weeks": 0,
        "confirmed": true
      },
      "decisive_label": "Nearest confirmed structure level",
      "trend": null,
      "fair_value": 13307.949724,
      "trend_gap": null,
      "fair_value_gap": -6.935326200816056
    },
    "active_swing": {
      "from": {
        "index": 0,
        "date": "2026-01-23",
        "price": 10697.276367,
        "kind": "low",
        "move_percent": null,
        "weeks": 0,
        "confirmed": true
      },
      "to": {
        "index": 28,
        "date": "2026-08-07",
        "price": 12385.0,
        "kind": "high",
        "move_percent": 15.777134058221154,
        "weeks": 28,
        "confirmed": false
      },
      "move_percent": 15.777134058221154,
      "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": "Troughing",
          "explanation": "The medium-term pressure curve is turning higher."
        },
        {
          "label": "Cycle alignment",
          "status": "neutral",
          "value": "Mixed",
          "explanation": "Cycle lengths are not moving in one clear direction."
        },
        {
          "label": "Relative strength",
          "status": "neutral",
          "value": "Unavailable",
          "explanation": "The reading is neutral or unavailable."
        },
        {
          "label": "Market activity",
          "status": "neutral",
          "value": "Unavailable",
          "explanation": "The reading is neutral or unavailable."
        },
        {
          "label": "Market dynamics",
          "status": "negative",
          "value": "-0.1",
          "explanation": "Price and volume behaviour is weak"
        },
        {
          "label": "30-week momentum",
          "status": "neutral",
          "value": "Unavailable",
          "explanation": "The reading is neutral or unavailable."
        }
      ],
      "positive": 1,
      "negative": 1,
      "neutral": 1,
      "observed": 3,
      "agreement": 33,
      "direction": "mixed",
      "scenario_direction": "neutral"
    },
    "evidence": {
      "score": 23,
      "history_score": 11,
      "indicator_coverage": 34,
      "structure_score": 17,
      "weekly_observations": 29,
      "confirmed_pivots": 1
    },
    "volume_ratio": 16.157552213776977,
    "historical": {
      "available": false,
      "matches": 0,
      "horizons": [],
      "note": "At least 90 weekly observations are required."
    },
    "lifecycle": {
      "state": "watching",
      "label": "Watching",
      "now": "Possible Wave 2 trough is the highest-ranked admissible tactical count; cycle status is mixed.",
      "next": "A weekly close through 12955.00, supported by an FLD cross and improving relative strength.",
      "wrong": "The underlying directional structure fails beyond 11400.00; 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": 24,
      "constructive_count": 10,
      "constructive_percent": 42,
      "rising_cycle_count": 1,
      "rising_cycle_percent": 4,
      "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": "^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": 7.953169156237384,
      "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": 21,
      "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": 0,
          "maximum": 15,
          "bar_width": 0,
          "explanation": "Price is 41% 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 troughing."
        },
        {
          "key": "hurst",
          "label": "Multi-cycle risk",
          "score": 11,
          "maximum": 15,
          "bar_width": 75,
          "explanation": "Hurst risk alignment is 75/100."
        },
        {
          "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": [
        "Hurst risk alignment is 75/100.",
        "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": [
      "2026-01-23",
      "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": [
      10697.276367,
      11596.083984,
      12195.288086,
      14459.496094,
      15751.224609,
      14685.425781,
      13550.866211,
      13482.104492,
      14027.283203,
      13708.03418,
      12990.953125,
      14086.220703,
      14616.665039,
      14341.620117,
      13870.0,
      14950.0,
      13785.0,
      13860.0,
      12895.0,
      13260.0,
      12950.0,
      12775.0,
      11400.0,
      12955.0,
      13040.0,
      12957.0,
      12510.0,
      12150.0,
      12385.0
    ],
    "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
    ],
    "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,
      0.0,
      0.0,
      0.0,
      0.0,
      -6.766450574205006,
      -13.96944334564787,
      -14.405991745578062,
      -10.94480872944296,
      -12.971629061987686,
      -17.52417067573797,
      -10.570631473622965,
      -7.202992771442875,
      -8.949173965778982,
      -11.9433546006645,
      -5.086744865171903,
      -12.48299518169864,
      -12.006841727844987,
      -18.133349500761984,
      -15.81606935867421,
      -17.784170301269306,
      -18.89519502692783,
      -27.624675014244794,
      -17.752426737679063,
      -17.212786156644924,
      -17.739729312242964,
      -20.577603897210736,
      -22.863140475708267,
      -21.371192986966822
    ],
    "volatility": [
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      58.72401979579389,
      57.03253049115025,
      57.02387139257635,
      55.85456739025728,
      53.509772204950664,
      52.22523334477884,
      51.47344627843196,
      50.76317092513896,
      52.32864875214568,
      50.814703833095095,
      51.448672169516854,
      50.13791557360948,
      49.214699713327725,
      48.18631319742926,
      50.31895061808718,
      52.85645761832939,
      51.747462095948016,
      50.759832401115325,
      50.15685917314071,
      49.184511626953444,
      48.76087701976221
    ],
    "volumeRatio": [
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      38.09694397442894,
      24.698206729662147,
      31.86505524473826,
      28.261266020062354,
      23.56711413528241,
      34.798566604878495,
      50.32341216777038,
      30.478026430047166,
      68.78308626571177,
      63.74667595319451,
      34.682759191718795,
      35.88340491046541,
      11.396805158001175,
      6.4578154915824,
      8.911140079960129,
      5.4395942700976345,
      5.853443795082054,
      38.171355813689736,
      33.73391156831513,
      26.42956514252905,
      57.611312092524194,
      16.157552213776977
    ],
    "fairValue": [
      10697.276367,
      11146.680176,
      11496.216146,
      12237.036133,
      12939.873828,
      13230.799154,
      13276.523019,
      13302.220703,
      13382.783203,
      13415.308301,
      13376.730557,
      13435.854736,
      13526.686298,
      13584.895857,
      13603.902799,
      13688.033874,
      13693.737764,
      13702.974555,
      13660.449578,
      13640.4271,
      13607.549619,
      13569.706454,
      13475.371391,
      13453.68925,
      13437.14168,
      13418.674692,
      13385.020074,
      13340.912214,
      13307.949724
    ],
    "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,
      -0.141403
    ],
    "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": "2026-01-23",
        "value": null
      },
      {
        "date": "2026-01-30",
        "value": null
      },
      {
        "date": "2026-02-06",
        "value": null
      },
      {
        "date": "2026-02-13",
        "value": 0.0
      },
      {
        "date": "2026-02-20",
        "value": 0.0
      },
      {
        "date": "2026-02-27",
        "value": 0.0
      },
      {
        "date": "2026-03-06",
        "value": 0.0
      },
      {
        "date": "2026-03-13",
        "value": 0.0
      },
      {
        "date": "2026-03-20",
        "value": 0.0
      },
      {
        "date": "2026-03-27",
        "value": 0.0
      },
      {
        "date": "2026-04-03",
        "value": 0.0
      },
      {
        "date": "2026-04-10",
        "value": 0.0
      },
      {
        "date": "2026-04-17",
        "value": 0.0
      },
      {
        "date": "2026-04-24",
        "value": 0.0
      },
      {
        "date": "2026-05-01",
        "value": 0.0
      },
      {
        "date": "2026-05-08",
        "value": 0.0
      },
      {
        "date": "2026-05-15",
        "value": 0.0
      },
      {
        "date": "2026-05-22",
        "value": 0.0
      },
      {
        "date": "2026-05-29",
        "value": 0.0
      },
      {
        "date": "2026-06-05",
        "value": -0.6972419132729196
      },
      {
        "date": "2026-06-12",
        "value": -2.15703175205335
      },
      {
        "date": "2026-06-19",
        "value": -4.034037978742418
      },
      {
        "date": "2026-06-26",
        "value": -8.340243563263314
      },
      {
        "date": "2026-07-03",
        "value": -8.997347120538135
      },
      {
        "date": "2026-07-10",
        "value": -8.498845179126437
      },
      {
        "date": "2026-07-17",
        "value": -7.582944550718775
      },
      {
        "date": "2026-07-24",
        "value": -4.977168170048855
      },
      {
        "date": "2026-07-31",
        "value": -5.880897158767695
      },
      {
        "date": "2026-08-07",
        "value": -6.594417642832173
      }
    ],
    "hurstComposite": [
      {
        "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": 1.0
      },
      {
        "date": "2026-03-20",
        "value": 1.120910317599957
      },
      {
        "date": "2026-03-27",
        "value": 0.049265294768288774
      },
      {
        "date": "2026-04-03",
        "value": -1.9835782350772373
      },
      {
        "date": "2026-04-10",
        "value": -1.3278594116924123
      },
      {
        "date": "2026-04-17",
        "value": 0.6809048560925413
      },
      {
        "date": "2026-04-24",
        "value": 1.3708305237657659
      },
      {
        "date": "2026-05-01",
        "value": 0.8444404213632157
      },
      {
        "date": "2026-05-08",
        "value": 1.8152729017095552
      },
      {
        "date": "2026-05-15",
        "value": 0.707502265371122
      },
      {
        "date": "2026-05-22",
        "value": -0.1379479130426151
      },
      {
        "date": "2026-05-29",
        "value": -2.045982637680871
      },
      {
        "date": "2026-06-05",
        "value": -1.5846727144527528
      },
      {
        "date": "2026-06-12",
        "value": -1.6192790677720839
      },
      {
        "date": "2026-06-19",
        "value": -1.5968306319475905
      },
      {
        "date": "2026-06-26",
        "value": -2.237337917286463
      },
      {
        "date": "2026-07-03",
        "value": -1.6279269912817063
      },
      {
        "date": "2026-07-10",
        "value": -0.995263438605625
      },
      {
        "date": "2026-07-17",
        "value": -0.6023701224125813
      },
      {
        "date": "2026-07-24",
        "value": -0.6989731476344799
      },
      {
        "date": "2026-07-31",
        "value": -1.0050333303975414
      },
      {
        "date": "2026-08-07",
        "value": -0.9907661352967403
      }
    ],
    "hurstCycles": {
      "10": [
        {
          "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": 1.0
        },
        {
          "date": "2026-03-20",
          "value": 1.120910317599957
        },
        {
          "date": "2026-03-27",
          "value": 0.04926529476828878
        },
        {
          "date": "2026-04-03",
          "value": -1.983578235077237
        },
        {
          "date": "2026-04-10",
          "value": -1.3278594116924123
        },
        {
          "date": "2026-04-17",
          "value": 0.6809048560925413
        },
        {
          "date": "2026-04-24",
          "value": 1.3708305237657659
        },
        {
          "date": "2026-05-01",
          "value": 0.8444404213632157
        },
        {
          "date": "2026-05-08",
          "value": 1.8152729017095552
        },
        {
          "date": "2026-05-15",
          "value": 0.707502265371122
        },
        {
          "date": "2026-05-22",
          "value": -0.1379479130426151
        },
        {
          "date": "2026-05-29",
          "value": -2.045982637680871
        },
        {
          "date": "2026-06-05",
          "value": -2.4616817861318823
        },
        {
          "date": "2026-06-12",
          "value": -2.333487101890399
        },
        {
          "date": "2026-06-19",
          "value": -2.0503262346008024
        },
        {
          "date": "2026-06-26",
          "value": -2.6834420782002675
        },
        {
          "date": "2026-07-03",
          "value": -1.6631058589796561
        },
        {
          "date": "2026-07-10",
          "value": -0.6645752418477435
        },
        {
          "date": "2026-07-17",
          "value": -0.05106265742413485
        },
        {
          "date": "2026-07-24",
          "value": -0.26305875594687
        },
        {
          "date": "2026-07-31",
          "value": -0.7543529186489566
        },
        {
          "date": "2026-08-07",
          "value": -0.7180291333675235
        }
      ],
      "20": [
        {
          "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": -1.0
        },
        {
          "date": "2026-06-12",
          "value": -1.1431403783598737
        },
        {
          "date": "2026-06-19",
          "value": -1.294500230178783
        },
        {
          "date": "2026-06-26",
          "value": -1.9399351433439274
        },
        {
          "date": "2026-07-03",
          "value": -1.6044744128164066
        },
        {
          "date": "2026-07-10",
          "value": -1.215722236444213
        },
        {
          "date": "2026-07-17",
          "value": -0.9699084324048788
        },
        {
          "date": "2026-07-24",
          "value": -0.9895827420928868
        },
        {
          "date": "2026-07-31",
          "value": -1.172153604896598
        },
        {
          "date": "2026-08-07",
          "value": -1.1725908032495516
        }
      ],
      "40": [
        {
          "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": "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": 0,
        "date": "2026-01-23",
        "price": 10697.276367,
        "kind": "low",
        "move_percent": null,
        "weeks": 0,
        "confirmed": true
      },
      {
        "index": 28,
        "date": "2026-08-07",
        "price": 12385.0,
        "kind": "high",
        "move_percent": 15.777134058221154,
        "weeks": 28,
        "confirmed": false
      }
    ],
    "labels": []
  }
}