{ "ticker": { "uuid": "3a402a29-6f48-475b-b69a-38d8fe569bcb", "symbol": "HRL-F11", "name": "Harel Index Funds Ltd - SAL TA 90 ETF", "exchange": "TLV", "country": "IL", "assetType": "etf" }, "methodBoundary": "Trend Architecture is a weekly structural classification, not a forecast, probability of return, recommendation or execution signal. Confidence measures geometric agreement and external confirmation only.", "analysis": { "eligible": true, "as_of": "2026-08-07", "benchmark": "TA35.TA", "stage": 4, "stage_name": "Declining", "phase": "4b", "phase_label": "Stage 4B \u00b7 Declining", "transition": "stage_4_declining", "transition_label": "Stage 4 decline intact", "confidence": 96.0, "architecture_regime": "downward_expansion", "architecture_regime_label": "Downward Expansion", "architecture_modifier": "Established contraction", "architecture_gate": "down", "architecture_direction": -66.846, "architecture_energy": 67.258, "architecture_maturity": 97.0, "architecture_confidence": 96, "architecture_tenure": "Developing", "architecture": { "interpretation": { "headline": "The weekly architecture is expanding downward.", "body": "Trend and Activity show sustained negative alignment with weak price acceptance. Repair requires persistent improvement across the structure, not merely one strong observation." }, "scores": { "balance": 8.05, "rotation_up": 29.99, "upward_expansion": 12.0, "deceleration": 60.98, "rotation_down": 55.81, "downward_expansion": 85.33 }, "activity_lines": [ 35.265333, 35.602545, 833.005429, 1539.069118 ], "activity_state": "Wide", "activity_direction": "Contracting", "rotation_direction": "Improving", "price_acceptance": -0.666667 }, "latest_close": 34.51, "trend_reference": 2364.71, "distance_from_trend": -0.985406, "trend_direction": "Weakening", "fair_value": 2360.950641, "distance_from_fair_value": -0.985383, "fair_value_direction": "Weakening", "relative_strength": -98.885242, "relative_strength_direction": "Weakening", "price_momentum": -0.990625, "excess_performance": -1.019525, "evidence": [ { "label": "Price vs Trend", "positive": false, "value": -0.985406, "read": "Below" }, { "label": "Trend direction", "positive": false, "value": -0.324982, "read": "Falling" }, { "label": "Price vs current Fair Value", "positive": false, "value": -0.985383, "read": "Below anchor" }, { "label": "Fair Value direction", "positive": false, "value": -1.602189, "read": "Moving away" }, { "label": "Relative Strength vs benchmark", "positive": false, "value": -0.988852, "read": "Lagging" }, { "label": "Relative strength direction", "positive": false, "value": -0.907588, "read": "Weakening" }, { "label": "Price momentum", "positive": false, "value": -0.990625, "read": "Negative" }, { "label": "Volume balance", "positive": false, "value": 0.206857, "read": "Supply-led" } ], "volume": { "latest": 1016500, "relative_activity": 1.389223, "balance": 0.206857, "dry_up": 0.88771, "accumulation_observations": 1, "distribution_observations": 5 }, "risk": { "range_context": 9.108196, "annualized_volatility": 6.314702, "from_high_reference": -0.991538, "from_low_reference": 0.007886 }, "levels": { "trend_reference": 2364.71, "fair_value_reference": 2360.950641, 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"energy": 68.846198, "activity_lines": [ 35.722667, 238.675818, 1408.25081, 2036.843376 ] }, { "date": "2026-07-24", "close": 36.04, "volume": 805658, "typical_volume": 726312.4, "trend": 2608.713, "fair_value": 2384.5025, "relative_strength": -98.914998, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -67.124407, "energy": 68.059087, "activity_lines": [ 35.836667, 103.604, 1198.619619, 1863.514022 ] }, { "date": "2026-07-31", "close": 35.4, "volume": 467628, "typical_volume": 696912.8, "trend": 2490.093, "fair_value": 2372.985833, "relative_strength": -98.879716, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -67.022782, "energy": 67.760837, "activity_lines": [ 35.73, 35.960545, 1007.33681, 1697.493828 ] }, { "date": "2026-08-07", "close": 34.51, "volume": 1016500, "typical_volume": 731704.15, "trend": 2364.71, "fair_value": 2360.950641, "relative_strength": -98.885242, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -66.845664, "energy": 67.258209, "activity_lines": [ 35.265333, 35.602545, 833.005429, 1539.069118 ] } ], "method": { "price_basis": "completed market observations", "trend": "Trend provides the primary directional reference.", "fair_value": "Fair Value provides long-term price context and is not a forecast or target.", "relative_strength": "Relative Strength shows leadership or lagging performance against the market benchmark.", "classification": "The SM framework combines Trend, Activity, Fair Value, Relative Strength and participation into a structural read." } } }