{
  "ticker": {
    "uuid": "737e239c-8991-48f4-9104-b2b603325a04",
    "symbol": "TCH-F151",
    "name": "Tachlit Index Sal Ltd. - Tachlit SAL (4A) S&P MidCap 400 Currency-Hedged",
    "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": -56.714,
    "architecture_energy": 64.254,
    "architecture_maturity": 95.0,
    "architecture_confidence": 69.81,
    "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": 14.86,
        "rotation_up": 27.95,
        "upward_expansion": 22.5,
        "deceleration": 67.0,
        "rotation_down": 53.18,
        "downward_expansion": 72.5
      },
      "activity_lines": [
        42.037333,
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      "activity_state": "Wide",
      "activity_direction": "Contracting",
      "rotation_direction": "Improving",
      "price_acceptance": -0.5
    },
    "latest_close": 42.49,
    "trend_reference": 2639.152667,
    "distance_from_trend": -0.9839,
    "trend_direction": "Weakening",
    "fair_value": 3261.228077,
    "distance_from_fair_value": -0.986971,
    "fair_value_direction": "Weakening",
    "relative_strength": -98.7701,
    "relative_strength_direction": "Weakening",
    "price_momentum": -0.989046,
    "excess_performance": -1.017946,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": false,
        "value": -0.9839,
        "read": "Below"
      },
      {
        "label": "Trend direction",
        "positive": false,
        "value": -0.315862,
        "read": "Falling"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": false,
        "value": -0.986971,
        "read": "Below anchor"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -1.18494,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.987701,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.831352,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": false,
        "value": -0.989046,
        "read": "Negative"
      },
      {
        "label": "Volume balance",
        "positive": false,
        "value": 0.425695,
        "read": "Supply-led"
      }
    ],
    "volume": {
      "latest": 4941,
      "relative_activity": 0.600361,
      "balance": 0.425695,
      "dry_up": 0.798962,
      "accumulation_observations": 2,
      "distribution_observations": 2
    },
    "risk": {
      "range_context": 8.022304,
      "annualized_volatility": 6.37733,
      "from_high_reference": -0.989784,
      "from_low_reference": 0.032564
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    "levels": {
      "trend_reference": 2639.152667,
      "fair_value_reference": 3261.228077,
      "structural_low": 41.15,
      "invalidation": "Reclaiming a flat-to-rising Trend with improving relative strength is required before the declining diagnosis is repaired."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 14,
        "median_return": 0.011486,
        "positive_rate": 0.642857,
        "directional_follow_through": 0.357143,
        "median_excess_return": -0.006857,
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        "best_return": 0.127097,
        "worst_return": -0.120957,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 4,
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        "directional_follow_through": 0.25,
        "median_excess_return": -0.017505,
        "regime_survival": 0.25,
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        "worst_return": -0.09739,
        "sufficient": false
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      {
        "horizon": "Extended",
        "sample_count": 3,
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        "positive_rate": 0.666667,
        "directional_follow_through": 0.333333,
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        "worst_return": -0.092934,
        "sufficient": false
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      {
        "horizon": "Full cycle",
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        "worst_return": -0.094208,
        "sufficient": false
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        "regime": "balance",
        "label": "Balance",
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        "regime": "deceleration",
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        "regime": "rotation_down",
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        "active": false
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        "regime": "downward_expansion",
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      {
        "date": "2026-04-03",
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      },
      {
        "date": "2026-07-03",
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      {
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      },
      {
        "date": "2026-07-17",
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        "typical_volume": 8545.75,
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        "fair_value": 3317.688782,
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      },
      {
        "date": "2026-07-24",
        "close": 41.74,
        "volume": 6761,
        "typical_volume": 8569.5,
        "trend": 2887.873,
        "fair_value": 3299.007628,
        "relative_strength": -98.877384,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
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        "direction": -68.620029,
        "energy": 68.904934,
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      },
      {
        "date": "2026-07-31",
        "close": 41.9,
        "volume": 8923,
        "typical_volume": 8550.2,
        "trend": 2765.536333,
        "fair_value": 3280.141603,
        "relative_strength": -98.814549,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -67.171699,
        "energy": 68.173771,
        "activity_lines": [
          41.83,
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          1291.538762,
          1989.058151
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      },
      {
        "date": "2026-08-07",
        "close": 42.49,
        "volume": 4941,
        "typical_volume": 8230.05,
        "trend": 2639.152667,
        "fair_value": 3261.228077,
        "relative_strength": -98.7701,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -56.713612,
        "energy": 64.254083,
        "activity_lines": [
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      }
    ],
    "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."
    }
  }
}