{
  "ticker": {
    "uuid": "a9a1dea6-1446-4202-aa90-679434b7becf",
    "symbol": "TCH-F100",
    "name": "Tachlit Index Sal Ltd. - Tachlit SAL (4D) STOXX Europe 600",
    "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": -52.823,
    "architecture_energy": 63.12,
    "architecture_maturity": 100.0,
    "architecture_confidence": 61.989,
    "architecture_tenure": "Established",
    "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": 25.73,
        "rotation_up": 27.99,
        "upward_expansion": 22.5,
        "deceleration": 67.0,
        "rotation_down": 44.4,
        "downward_expansion": 65.5
      },
      "activity_lines": [
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      "activity_state": "Wide",
      "activity_direction": "Contracting",
      "rotation_direction": "Improving",
      "price_acceptance": 0.0
    },
    "latest_close": 30.61,
    "trend_reference": 1926.072667,
    "distance_from_trend": -0.984108,
    "trend_direction": "Weakening",
    "fair_value": 2505.39859,
    "distance_from_fair_value": -0.987782,
    "fair_value_direction": "Weakening",
    "relative_strength": -98.836145,
    "relative_strength_direction": "Weakening",
    "price_momentum": -0.98969,
    "excess_performance": -1.01859,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": false,
        "value": -0.984108,
        "read": "Below"
      },
      {
        "label": "Trend direction",
        "positive": false,
        "value": -0.330271,
        "read": "Falling"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": false,
        "value": -0.987782,
        "read": "Below anchor"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -1.043688,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.988361,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.719046,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": false,
        "value": -0.98969,
        "read": "Negative"
      },
      {
        "label": "Volume balance",
        "positive": false,
        "value": 0.774363,
        "read": "Supply-led"
      }
    ],
    "volume": {
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      "relative_activity": 2.140363,
      "balance": 0.774363,
      "dry_up": 1.3045,
      "accumulation_observations": 2,
      "distribution_observations": 2
    },
    "risk": {
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      "annualized_volatility": 6.348125,
      "from_high_reference": -0.990145,
      "from_low_reference": 0.093214
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    "levels": {
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      "fair_value_reference": 2505.39859,
      "structural_low": 28.0,
      "invalidation": "Reclaiming a flat-to-rising Trend with improving relative strength is required before the declining diagnosis is repaired."
    },
    "outcomes": [
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        "horizon": "Near term",
        "sample_count": 19,
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        "positive_rate": 0.526316,
        "directional_follow_through": 0.421053,
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        "sufficient": true
      },
      {
        "horizon": "Intermediate",
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      {
        "horizon": "Extended",
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        "horizon": "Full cycle",
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        "stage": 4,
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      },
      {
        "date": "2026-07-17",
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        "modifier": "Established contraction",
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        "energy": 81.587366,
        "activity_lines": [
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      },
      {
        "date": "2026-07-24",
        "close": 29.97,
        "volume": 26069,
        "typical_volume": 28801.5,
        "trend": 2120.088,
        "fair_value": 2535.234872,
        "relative_strength": -98.942877,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -64.637787,
        "energy": 67.563104,
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          29.766667,
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      },
      {
        "date": "2026-07-31",
        "close": 30.93,
        "volume": 38799,
        "typical_volume": 28636.3,
        "trend": 2023.452333,
        "fair_value": 2520.535705,
        "relative_strength": -98.850819,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -63.241936,
        "energy": 66.944374,
        "activity_lines": [
          30.194667,
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          1423.498344
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      },
      {
        "date": "2026-08-07",
        "close": 30.61,
        "volume": 64763,
        "typical_volume": 30257.95,
        "trend": 1926.072667,
        "fair_value": 2505.39859,
        "relative_strength": -98.836145,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -52.823248,
        "energy": 63.120205,
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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."
    }
  }
}