{ "ticker": { "uuid": "8be12d26-2306-4f7c-b5fb-d1dee79945f7", "symbol": "HRL-F87", "name": "Harel Sal US S&P Technology (4Da')", "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": -65.594, "architecture_energy": 67.113, "architecture_maturity": 95.0, "architecture_confidence": 85.94, "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": 11.21, "rotation_up": 29.87, "upward_expansion": 12.0, "deceleration": 60.98, "rotation_down": 53.19, "downward_expansion": 83.0 }, "activity_lines": [ 115.473333, 115.698182, 2812.725714, 4536.925591 ], "activity_state": "Wide", "activity_direction": "Contracting", "rotation_direction": "Improving", "price_acceptance": -0.5 }, "latest_close": 117.0, "trend_reference": 6480.313333, "distance_from_trend": -0.981945, "trend_direction": "Weakening", "fair_value": 8161.40641, "distance_from_fair_value": -0.985664, "fair_value_direction": "Weakening", "relative_strength": -98.688235, "relative_strength_direction": "Weakening", "price_momentum": -0.987007, "excess_performance": -1.015907, "evidence": [ { "label": "Price vs Trend", "positive": false, "value": -0.981945, "read": "Below" }, { "label": "Trend direction", "positive": false, "value": -0.334322, "read": "Falling" }, { "label": "Price vs current Fair Value", "positive": false, "value": -0.985664, "read": "Below anchor" }, { "label": "Fair Value direction", "positive": false, "value": -1.227569, "read": "Moving away" }, { "label": "Relative Strength vs benchmark", "positive": false, "value": -0.986882, "read": "Lagging" }, { "label": "Relative strength direction", "positive": false, "value": -0.824908, "read": "Weakening" }, { "label": "Price momentum", "positive": false, "value": -0.987007, "read": "Negative" }, { "label": "Volume balance", "positive": true, "value": 5.503218, "read": "Demand-led" } ], "volume": { "latest": 18842, "relative_activity": 0.586573, "balance": 5.503218, "dry_up": 0.527284, "accumulation_observations": 2, "distribution_observations": 0 }, "risk": { "range_context": 8.058383, "annualized_volatility": 6.340521, "from_high_reference": -0.989591, "from_low_reference": 0.06947 }, "levels": { "trend_reference": 6480.313333, "fair_value_reference": 8161.40641, 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4480.664762, 5892.979785 ] }, { "date": "2026-07-24", "close": 115.8, "volume": 11062, "typical_volume": 31368.35, "trend": 7119.76, "fair_value": 8245.889744, "relative_strength": -98.796821, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -67.241575, "energy": 68.344093, "activity_lines": [ 115.793333, 711.356364, 3881.48381, 5420.141075 ] }, { "date": "2026-07-31", "close": 113.6, "volume": 12055, "typical_volume": 31708.8, "trend": 6800.68, "fair_value": 8203.40641, "relative_strength": -98.756688, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -67.118917, "energy": 67.970209, "activity_lines": [ 115.033333, 316.250909, 3325.337143, 4968.130753 ] }, { "date": "2026-08-07", "close": 117.0, "volume": 18842, "typical_volume": 32122.15, "trend": 6480.313333, "fair_value": 8161.40641, "relative_strength": -98.688235, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -65.593533, "energy": 67.113407, "activity_lines": [ 115.473333, 115.698182, 2812.725714, 4536.925591 ] } ], "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." } } }