{
  "ticker": {
    "symbol": "DRGN",
    "name": "Global X China Tech ETF",
    "exchange": "ASX"
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  "latest_week": "2026-08-07",
  "latest_close": 12.25,
  "latest_open": 11.96,
  "latest_high": 12.36,
  "latest_low": 11.55,
  "bar_count": 66,
  "analysis_bar_count": 66,
  "reversal_percent": 6.436041834271923,
  "model": {
    "version": "ewc-2.1.0",
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    "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"
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      "date": "2026-07-10",
      "price": 13.29,
      "kind": "high",
      "move_percent": null,
      "weeks": 0,
      "confirmed": true
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      "date": "2026-07-17",
      "price": 12.1,
      "kind": "low",
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      "weeks": 1,
      "confirmed": true
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    {
      "index": 65,
      "date": "2026-08-07",
      "price": 12.25,
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      "weeks": 3,
      "confirmed": false
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    "trend_bias": "bearish",
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    "slope": -12.024864076116518,
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    "period_basis": "median confirmed trough-to-trough and crest-to-crest spacing",
    "weeks_since_turn": 3,
    "estimated_weeks_to_next_turn": 17,
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        "date": "2025-07-25",
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        "date": "2025-08-08",
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    "risk_score": 88,
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    "crest_alignment": 0,
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    "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": [
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          "explanation": "Median price displaced forward by half the estimated wavelength; a price cross confirms a cyclic turn after it begins."
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        },
        {
          "index": 65,
          "date": "2026-08-07",
          "price": 12.25,
          "kind": "high",
          "move_percent": 1.2396694214876063,
          "weeks": 3,
          "confirmed": false,
          "label": "2"
        }
      ],
      "invalidation": 13.29,
      "confirmation": 12.1,
      "forming": true,
      "explanation": "A rule-valid motive interpretation. Fibonacci proportions and alternation improve the fit but are guidelines, not hard requirements.",
      "evidence_weight": 33
    },
    "alternates": [
      {
        "id": "tactical-bearish-wave2",
        "degree": "tactical",
        "pattern": "impulse",
        "stage": "wave2",
        "title": "Possible bearish Wave 2 crest",
        "direction": "bearish",
        "score": 58,
        "rules": [
          {
            "label": "Wave 2 protects the Wave 1 origin",
            "passed": true,
            "detail": "Origin 13.36; Wave 2 12.25.",
            "hard": true
          }
        ],
        "guidelines": [
          {
            "label": "Wave 2 retracement is proportionate",
            "passed": false,
            "detail": "Retraced 12% of Wave 1.",
            "hard": false
          }
        ],
        "labels": [
          {
            "index": 58,
            "date": "2026-06-19",
            "price": 13.363091,
            "kind": "high",
            "move_percent": 11.853624504005008,
            "weeks": 7,
            "confirmed": true,
            "label": "0"
          },
          {
            "index": 62,
            "date": "2026-07-17",
            "price": 12.1,
            "kind": "low",
            "move_percent": -9.452087095717609,
            "weeks": 4,
            "confirmed": true,
            "label": "1"
          },
          {
            "index": 65,
            "date": "2026-08-07",
            "price": 12.25,
            "kind": "high",
            "move_percent": 1.2396694214876063,
            "weeks": 3,
            "confirmed": false,
            "label": "2"
          }
        ],
        "invalidation": 13.363091,
        "confirmation": 12.1,
        "forming": true,
        "explanation": "A rule-valid motive interpretation. Fibonacci proportions and alternation improve the fit but are guidelines, not hard requirements.",
        "evidence_weight": 33
      },
      {
        "id": "tactical-bearish-abc",
        "degree": "tactical",
        "pattern": "correction",
        "stage": "wave_c",
        "title": "Bearish A/B/C rebound may be completing",
        "direction": "bearish",
        "score": 58,
        "rules": [
          {
            "label": "Wave B protects the correction origin",
            "passed": true,
            "detail": "Origin 11.95; Wave B 12.10.",
            "hard": true
          },
          {
            "label": "Wave C progresses beyond Wave A",
            "passed": true,
            "detail": "A length 1.42; C length 0.15.",
            "hard": true
          }
        ],
        "guidelines": [
          {
            "label": "Wave C is proportionate to Wave A",
            "passed": false,
            "detail": "Wave C is 0.11\u00d7 Wave A.",
            "hard": false
          }
        ],
        "labels": [
          {
            "index": 51,
            "date": "2026-05-01",
            "price": 11.946945,
            "kind": "low",
            "move_percent": -5.107664813343927,
            "weeks": 2,
            "confirmed": true,
            "label": "5"
          },
          {
            "index": 58,
            "date": "2026-06-19",
            "price": 13.363091,
            "kind": "high",
            "move_percent": 11.853624504005008,
            "weeks": 7,
            "confirmed": true,
            "label": "A"
          },
          {
            "index": 62,
            "date": "2026-07-17",
            "price": 12.1,
            "kind": "low",
            "move_percent": -9.452087095717609,
            "weeks": 4,
            "confirmed": true,
            "label": "B"
          },
          {
            "index": 65,
            "date": "2026-08-07",
            "price": 12.25,
            "kind": "high",
            "move_percent": 1.2396694214876063,
            "weeks": 3,
            "confirmed": false,
            "label": "C"
          }
        ],
        "invalidation": 12.25,
        "confirmation": 12.1,
        "forming": true,
        "explanation": "A three-leg corrective interpretation whose Wave B and Wave C geometry is internally consistent.",
        "evidence_weight": 33
      }
    ],
    "degrees": [
      {
        "key": "strategic",
        "label": "Strategic",
        "reversal_percent": 10.297666934835078,
        "primary": null,
        "candidate_count": 0,
        "explanation": "Strategic degree uses a 10.3% weekly closing-price reversal threshold."
      },
      {
        "key": "primary",
        "label": "Primary",
        "reversal_percent": 6.436041834271923,
        "primary": {
          "id": "primary-bearish-wave2",
          "degree": "primary",
          "pattern": "impulse",
          "stage": "wave2",
          "title": "Possible bearish Wave 2 crest",
          "direction": "bearish",
          "score": 58,
          "rules": [
            {
              "label": "Wave 2 protects the Wave 1 origin",
              "passed": true,
              "detail": "Origin 13.29; Wave 2 12.25.",
              "hard": true
            }
          ],
          "guidelines": [
            {
              "label": "Wave 2 retracement is proportionate",
              "passed": false,
              "detail": "Retraced 13% of Wave 1.",
              "hard": false
            }
          ],
          "labels": [
            {
              "index": 61,
              "date": "2026-07-10",
              "price": 13.29,
              "kind": "high",
              "move_percent": null,
              "weeks": 0,
              "confirmed": true,
              "label": "0"
            },
            {
              "index": 62,
              "date": "2026-07-17",
              "price": 12.1,
              "kind": "low",
              "move_percent": -8.954100827689988,
              "weeks": 1,
              "confirmed": true,
              "label": "1"
            },
            {
              "index": 65,
              "date": "2026-08-07",
              "price": 12.25,
              "kind": "high",
              "move_percent": 1.2396694214876063,
              "weeks": 3,
              "confirmed": false,
              "label": "2"
            }
          ],
          "invalidation": 13.29,
          "confirmation": 12.1,
          "forming": true,
          "explanation": "A rule-valid motive interpretation. Fibonacci proportions and alternation improve the fit but are guidelines, not hard requirements.",
          "evidence_weight": 33
        },
        "candidate_count": 1,
        "explanation": "Primary degree uses a 6.4% weekly closing-price reversal threshold."
      },
      {
        "key": "tactical",
        "label": "Tactical",
        "reversal_percent": 4.505229283990346,
        "primary": {
          "id": "tactical-bearish-wave2",
          "degree": "tactical",
          "pattern": "impulse",
          "stage": "wave2",
          "title": "Possible bearish Wave 2 crest",
          "direction": "bearish",
          "score": 58,
          "rules": [
            {
              "label": "Wave 2 protects the Wave 1 origin",
              "passed": true,
              "detail": "Origin 13.36; Wave 2 12.25.",
              "hard": true
            }
          ],
          "guidelines": [
            {
              "label": "Wave 2 retracement is proportionate",
              "passed": false,
              "detail": "Retraced 12% of Wave 1.",
              "hard": false
            }
          ],
          "labels": [
            {
              "index": 58,
              "date": "2026-06-19",
              "price": 13.363091,
              "kind": "high",
              "move_percent": 11.853624504005008,
              "weeks": 7,
              "confirmed": true,
              "label": "0"
            },
            {
              "index": 62,
              "date": "2026-07-17",
              "price": 12.1,
              "kind": "low",
              "move_percent": -9.452087095717609,
              "weeks": 4,
              "confirmed": true,
              "label": "1"
            },
            {
              "index": 65,
              "date": "2026-08-07",
              "price": 12.25,
              "kind": "high",
              "move_percent": 1.2396694214876063,
              "weeks": 3,
              "confirmed": false,
              "label": "2"
            }
          ],
          "invalidation": 13.363091,
          "confirmation": 12.1,
          "forming": true,
          "explanation": "A rule-valid motive interpretation. Fibonacci proportions and alternation improve the fit but are guidelines, not hard requirements.",
          "evidence_weight": 33
        },
        "candidate_count": 2,
        "explanation": "Tactical degree uses a 4.5% 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": "hurst_crest_risk",
    "title": "Hurst crest risk",
    "direction": "risk",
    "confidence": 87,
    "score_explanation": "Rules agreement plus independent cycle, trend and participation confirmation; it is not a probability.",
    "candidate_id": "primary-bearish-wave2",
    "labels": [
      {
        "index": 61,
        "date": "2026-07-10",
        "price": 13.29,
        "kind": "high",
        "move_percent": null,
        "weeks": 0,
        "confirmed": true,
        "label": "0"
      },
      {
        "index": 62,
        "date": "2026-07-17",
        "price": 12.1,
        "kind": "low",
        "move_percent": -8.954100827689988,
        "weeks": 1,
        "confirmed": true,
        "label": "1"
      },
      {
        "index": 65,
        "date": "2026-08-07",
        "price": 12.25,
        "kind": "high",
        "move_percent": 1.2396694214876063,
        "weeks": 3,
        "confirmed": false,
        "label": "2"
      }
    ],
    "notes": [
      "Hurst rhythm shows a falling stack.",
      "Hurst risk alignment is elevated.",
      "Market Dynamics is negative.",
      "30-week price rate of change is negative."
    ],
    "metrics": {
      "trend_gap": -0.5437133112862448,
      "fair_value_gap": 1.1330451027788289,
      "market_activity": 7.032755,
      "market_dynamics": -0.353131,
      "relative_strength": -7.573107,
      "roc30": -4.891304347826093,
      "hurst_alignment": 12,
      "hurst_risk": 88
    }
  },
  "detail": {
    "summary": "The closing-price swing map is classified as hurst crest risk. Price is 0.5% below its 30-week trend. 1 of 7 available confirmation measures are constructive.",
    "returns": [
      {
        "weeks": 4,
        "label": "4-week return",
        "value": -7.825432656132424
      },
      {
        "weeks": 13,
        "label": "13-week return",
        "value": 1.0098677982850268
      },
      {
        "weeks": 26,
        "label": "26-week return",
        "value": 4.166666666666669
      },
      {
        "weeks": 52,
        "label": "52-week return",
        "value": 14.807872539831303
      }
    ],
    "range": {
      "high_52": 14.86,
      "low_52": 10.65,
      "position_52": 38.00475059382423,
      "drawdown": -17.563930013458947
    },
    "risk": {
      "annualised_volatility": 23.90312735129759,
      "average_weekly_range": 6.404762524644502,
      "active_drawdown": -13.549752999294284
    },
    "levels": {
      "support": {
        "index": 62,
        "date": "2026-07-17",
        "price": 12.1,
        "kind": "low",
        "move_percent": -8.954100827689988,
        "weeks": 1,
        "confirmed": true
      },
      "resistance": {
        "index": 61,
        "date": "2026-07-10",
        "price": 13.29,
        "kind": "high",
        "move_percent": null,
        "weeks": 0,
        "confirmed": true
      },
      "decisive": {
        "index": 61,
        "date": "2026-07-10",
        "price": 13.29,
        "kind": "high",
        "move_percent": null,
        "weeks": 0,
        "confirmed": true
      },
      "decisive_label": "Bearish structure weakens above",
      "trend": 12.316969,
      "fair_value": 12.112757,
      "trend_gap": -0.5437133112862448,
      "fair_value_gap": 1.1330451027788289
    },
    "active_swing": {
      "from": {
        "index": 62,
        "date": "2026-07-17",
        "price": 12.1,
        "kind": "low",
        "move_percent": -8.954100827689988,
        "weeks": 1,
        "confirmed": true
      },
      "to": {
        "index": 65,
        "date": "2026-08-07",
        "price": 12.25,
        "kind": "high",
        "move_percent": 1.2396694214876063,
        "weeks": 3,
        "confirmed": false
      },
      "move_percent": 1.2396694214876063,
      "weeks": 3,
      "status": "Forming"
    },
    "confirmation": {
      "rows": [
        {
          "label": "Trend",
          "status": "negative",
          "value": "0.5% below trend",
          "explanation": "Price remains below its 30-week trend."
        },
        {
          "label": "Cycle pressure",
          "status": "negative",
          "value": "Falling",
          "explanation": "The medium-term pressure curve is not rising."
        },
        {
          "label": "Cycle alignment",
          "status": "negative",
          "value": "Falling Stack",
          "explanation": "Several cycle lengths are weakening together."
        },
        {
          "label": "Relative strength",
          "status": "negative",
          "value": "-7.6",
          "explanation": "Underperforming its benchmark"
        },
        {
          "label": "Market activity",
          "status": "positive",
          "value": "+7.0",
          "explanation": "Participation is supportive"
        },
        {
          "label": "Market dynamics",
          "status": "negative",
          "value": "-0.4",
          "explanation": "Price and volume behaviour is weak"
        },
        {
          "label": "30-week momentum",
          "status": "negative",
          "value": "-4.9",
          "explanation": "Medium-term momentum is negative"
        }
      ],
      "positive": 1,
      "negative": 6,
      "neutral": 0,
      "observed": 7,
      "agreement": 86,
      "direction": "defensive",
      "scenario_direction": "risk"
    },
    "evidence": {
      "score": 46,
      "history_score": 25,
      "indicator_coverage": 69,
      "structure_score": 33,
      "weekly_observations": 66,
      "confirmed_pivots": 2
    },
    "volume_ratio": 171.29290885456396,
    "historical": {
      "available": false,
      "matches": 0,
      "horizons": [],
      "note": "At least 90 weekly observations are required."
    },
    "lifecycle": {
      "state": "triggered",
      "label": "Triggered",
      "now": "Possible bearish Wave 2 crest is the highest-ranked admissible primary count; cycle status is falling stack.",
      "next": "A weekly close through 12.10, supported by an FLD cross and improving relative strength.",
      "wrong": "The underlying directional structure fails beyond 13.29; 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": 16,
      "constructive_count": 6,
      "constructive_percent": 38,
      "rising_cycle_count": 7,
      "rising_cycle_percent": 44,
      "horizons": [
        {
          "weeks": 4,
          "observations": 46,
          "positive_rate": 50.0,
          "median_return": 0.03,
          "average_return": 0.26,
          "median_excess_return": 0.06,
          "excess_observations": 46,
          "p10": -2.55,
          "p90": 5.53
        },
        {
          "weeks": 13,
          "observations": 25,
          "positive_rate": 72.0,
          "median_return": 1.91,
          "average_return": 2.21,
          "median_excess_return": 1.3,
          "excess_observations": 25,
          "p10": -3.92,
          "p90": 7.67
        },
        {
          "weeks": 26,
          "observations": 18,
          "positive_rate": 50.0,
          "median_return": -0.15,
          "average_return": 0.61,
          "median_excess_return": -0.07,
          "excess_observations": 18,
          "p10": -5.32,
          "p90": 8.01
        }
      ],
      "benchmark": "^AXJO",
      "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": true,
      "options_direction": "mixed",
      "options_conviction": 32.61,
      "expected_move": 9.65630772,
      "invalidation_distance": 8.48979591836734,
      "collision": true,
      "flags": [
        "The options-implied move is large enough to cross the Elliott invalidation level in one event-sized move."
      ],
      "explanation": "Event and positioning context tests whether a scheduled catalyst or the options-implied move could overwhelm the technical structure."
    },
    "downside_vulnerability": {
      "score": 34,
      "label": "Watch",
      "tone": "watch",
      "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 0.5% below the 30-week trend; large positive gaps increase snap-back vulnerability."
        },
        {
          "key": "range",
          "label": "Range position",
          "score": 0,
          "maximum": 15,
          "bar_width": 0,
          "explanation": "Price is 38% 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": 13,
          "maximum": 15,
          "bar_width": 88,
          "explanation": "Hurst risk alignment is 88/100."
        },
        {
          "key": "stability",
          "label": "Count instability",
          "score": 10,
          "maximum": 10,
          "bar_width": 100,
          "explanation": "The primary interpretation has unavailable recent stability."
        },
        {
          "key": "event",
          "label": "Event proximity",
          "score": 0,
          "maximum": 10,
          "bar_width": 0,
          "explanation": "No upcoming stored earnings date is available."
        }
      ],
      "warnings": [
        "Medium-term cycle pressure is falling.",
        "Hurst risk alignment is 88/100.",
        "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": [
      "2025-05-09",
      "2025-05-16",
      "2025-05-23",
      "2025-05-30",
      "2025-06-06",
      "2025-06-13",
      "2025-06-20",
      "2025-06-27",
      "2025-07-04",
      "2025-07-11",
      "2025-07-18",
      "2025-07-25",
      "2025-08-01",
      "2025-08-08",
      "2025-08-15",
      "2025-08-22",
      "2025-08-29",
      "2025-09-05",
      "2025-09-12",
      "2025-09-19",
      "2025-09-26",
      "2025-10-03",
      "2025-10-10",
      "2025-10-17",
      "2025-10-24",
      "2025-10-31",
      "2025-11-07",
      "2025-11-14",
      "2025-11-21",
      "2025-11-28",
      "2025-12-05",
      "2025-12-12",
      "2025-12-19",
      "2025-12-26",
      "2026-01-02",
      "2026-01-09",
      "2026-01-16",
      "2026-01-23",
      "2026-01-30",
      "2026-02-06",
      "2026-02-13",
      "2026-02-20",
      "2026-02-27",
      "2026-03-06",
      "2026-03-13",
      "2026-03-20",
      "2026-03-27",
      "2026-04-03",
      "2026-04-10",
      "2026-04-17",
      "2026-04-24",
      "2026-05-01",
      "2026-05-08",
      "2026-05-15",
      "2026-05-22",
      "2026-05-29",
      "2026-06-05",
      "2026-06-12",
      "2026-06-19",
      "2026-06-26",
      "2026-07-03",
      "2026-07-10",
      "2026-07-17",
      "2026-07-24",
      "2026-07-31",
      "2026-08-07"
    ],
    "close": [
      10.21,
      10.24,
      10.34,
      9.93,
      10.08,
      9.99,
      9.94,
      10.31,
      10.26,
      10.3,
      10.73,
      10.82,
      10.82,
      10.67,
      11.4,
      12.2,
      12.43,
      12.18,
      13.13,
      13.62,
      13.97,
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      13.73,
      12.88,
      13.6729,
      13.37,
      13.47,
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      12.81,
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      12.127528,
      12.52671,
      12.678779,
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      13.258543,
      12.830848,
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      13.33,
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    ],
    "trend": [
      null,
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      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
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      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      null,
      11.763097,
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      11.93343,
      12.015763,
      12.11143,
      12.20843,
      12.304763,
      12.41643,
      12.49943,
      12.574263,
      12.62293,
      12.648597,
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