[System] You are BLUM Finance, an evidence-bound financial reasoning model. Use only supplied point-in-time evidence and abstain when it is insufficient.

[User] {"as_of": "2026-07-13T09:11:03.744362", "evidence": [{"type": "supporting", "value": "Momentum score is 87.4."}, {"type": "supporting", "value": "Trend score is 71.7; price structure is supportive."}, {"type": "supporting", "value": "Sentiment confirms part of the thesis with 7D sentiment 0.18."}, {"type": "supporting", "value": "News flow is active with 123 linked 7D records."}, {"type": "supporting", "value": "Fundamental evidence is supportive with score 76.0."}, {"type": "contradicting", "value": "The latest signal is explicitly marked High risk."}, {"type": "risk", "value": "Risk evidence is incomplete and requires verification."}], "horizon": "swing", "market_context": {"macro_environment": {}, "market_breadth": {}, "market_regime": "Risk-Off", "risk_sentiment": "High Risk", "sector_performance": {"relative_strength": 0.0}, "signal_regime_adjustment": "No material regime adjustment beyond standard confirmation checks.", "timestamp": "2026-07-13T09:11:03.734212", "volatility_regime": "high_volatility"}, "portfolio_context": {}, "question": "Evaluate the evidence and state what would change the view.", "ticker": "AMAT"}

[Assistant] {"bear_case": ["The latest signal is explicitly marked High risk."], "bull_case": ["Momentum score is 87.4.", "Trend score is 71.7; price structure is supportive.", "Sentiment confirms part of the thesis with 7D sentiment 0.18.", "News flow is active with 123 linked 7D records.", "Fundamental evidence is supportive with score 76.0."], "confidence": 100.0, "invalidation_conditions": ["Loss of support near 403.75.", "Sentiment turns negative while price momentum fades.", "ETF or sector confirmation fails to appear after the next market refresh.", "Volatility expands further without a compensating increase in evidence quality.", "Positive narrative becomes crowded but no longer improves price structure."], "risks": ["Risk evidence is incomplete and requires verification."], "status": "watch", "thesis": "AMAT (Applied Materials Inc.) is a Watch research setup with Blum score 69.2 and thesis conviction 73.7/100 in a Risk-Off regime. The working explanation is: Narrative activity is visible but has not yet translated into a decisive price move. Primary support: Momentum score is 87.4. Main challenge: The latest signal is explicitly marked High risk.", "what_would_change_the_view": ["Loss of support near 403.75.", "Sentiment turns negative while price momentum fades.", "ETF or sector confirmation fails to appear after the next market refresh.", "Volatility expands further without a compensating increase in evidence quality.", "Positive narrative becomes crowded but no longer improves price structure."]}


The latest signal is explicitly marked High risk.

Trend score is 71.7; price structure is supportive.

Sentiment confirms part of the thesis with 7D sentiment 0.18.

News flow is active with 122 linked 7D records.

Fundamental evidence is supportive with score 76.0.

[System] You are BLUM Finance, an evidence-bound financial reasoning model. Use only supplied point-in-time evidence and abstain when it is insufficient.

[User] {"as_of": "2026-07-13T09:52:09.730199", "evidence": [{"type": "supporting", "value": "Momentum score is 87.4."}, {"type": "supporting", "value": "Trend score is 71.7; price structure is supportive."}, {"type": "supporting", "value": "Sentiment confirms part of the thesis with 7D sentiment 0.18."}, {"type": "supporting", "value": "News flow is active with 122 linked 7D records."}, {"type": "supporting", "value": "Fundamental evidence is supportive with score 76.0."}, {"type": "contradicting", "value": "The latest signal is explicitly marked High risk."}, {"type": "risk", "value": "Risk evidence is incomplete and requires verification."}], "horizon": "swing", "market_context": {"macro_environment": {}, "market_breadth": {}, "market_regime": "Risk-Off", "risk_sentiment": "High Risk", "sector_performance": {"relative_strength": 0.0}, "signal_regime_adjustment": "No material regime adjustment beyond standard confirmation checks.", "timestamp": "2026-07-13T09:52:09.715368", "volatility_regime": "high_volatility"}, "portfolio_context": {}, "question": "Evaluate the evidence and state what would change the view.", "ticker": "AMAT"}

[Assistant] {"bear_case": ["The latest signal is explicitly marked High risk."], "bull_case": ["Momentum score is 87.4.", "Trend score is 71.7; price structure is supportive.", "Sentiment confirms part of the thesis with 7D sentiment 0.18.", "News flow is active with 122 linked 7D records.", "Fundamental evidence is supportive with score 76.0."], "confidence": 100.0, "invalidation_conditions": ["Loss of support near 403.75.", "Sentiment turns negative while price momentum fades.", "ETF or sector confirmation fails to appear after the next market refresh.", "Volatility expands further without a compensating increase in evidence quality.", "Positive narrative becomes crowded but no longer improves price structure."], "risks": ["Risk evidence is incomplete and requires verification."], "status": "watch", "thesis": "AMAT (Applied Materials Inc.) is a Watch research setup with Blum score 69.1 and thesis conviction 73.7/100 in a Risk-Off regime. The working explanation is: Narrative activity is visible but has not yet translated into a decisive price move. Primary support: Momentum score is 87.4. Main challenge: The latest signal is explicitly marked High risk.", "what_would_change_the_view": ["Loss of support near 403.75.", "Sentiment turns negative while price momentum fades.", "ETF or sector confirmation fails to appear after the next market refresh.", "Volatility expands further without a compensating increase in evidence quality.", "Positive narrative becomes crowded but no longer improves price structure."]}


[System] You are BLUM Finance, an evidence-bound financial reasoning model. Use only supplied point-in-time evidence and abstain when it is insufficient.

[User] {"as_of": "2026-07-13T10:32:36.919634", "evidence": [{"type": "supporting", "value": "Momentum score is 87.4."}, {"type": "supporting", "value": "Trend score is 71.7; price structure is supportive."}, {"type": "supporting", "value": "Sentiment confirms part of the thesis with 7D sentiment 0.18."}, {"type": "supporting", "value": "News flow is active with 122 linked 7D records."}, {"type": "supporting", "value": "Fundamental evidence is supportive with score 76.0."}, {"type": "contradicting", "value": "The latest signal is explicitly marked High risk."}, {"type": "risk", "value": "Risk evidence is incomplete and requires verification."}], "horizon": "swing", "market_context": {"macro_environment": {}, "market_breadth": {}, "market_regime": "Risk-Off", "risk_sentiment": "High Risk", "sector_performance": {"relative_strength": 0.0}, "signal_regime_adjustment": "No material regime adjustment beyond standard confirmation checks.", "timestamp": "2026-07-13T10:32:36.905205", "volatility_regime": "high_volatility"}, "portfolio_context": {}, "question": "Evaluate the evidence and state what would change the view.", "ticker": "AMAT"}

[Assistant] {"bear_case": ["The latest signal is explicitly marked High risk."], "bull_case": ["Momentum score is 87.4.", "Trend score is 71.7; price structure is supportive.", "Sentiment confirms part of the thesis with 7D sentiment 0.18.", "News flow is active with 122 linked 7D records.", "Fundamental evidence is supportive with score 76.0."], "confidence": 100.0, "invalidation_conditions": ["Loss of support near 403.75.", "Sentiment turns negative while price momentum fades.", "ETF or sector confirmation fails to appear after the next market refresh.", "Volatility expands further without a compensating increase in evidence quality.", "Positive narrative becomes crowded but no longer improves price structure."], "risks": ["Risk evidence is incomplete and requires verification."], "status": "watch", "thesis": "AMAT (Applied Materials Inc.) is a Watch research setup with Blum score 69.1 and thesis conviction 73.7/100 in a Risk-Off regime. The working explanation is: Narrative activity is visible but has not yet translated into a decisive price move. Primary support: Momentum score is 87.4. Main challenge: The latest signal is explicitly marked High risk.", "what_would_change_the_view": ["Loss of support near 403.75.", "Sentiment turns negative while price momentum fades.", "ETF or sector confirmation fails to appear after the next market refresh.", "Volatility expands further without a compensating increase in evidence quality.", "Positive narrative becomes crowded but no longer improves price structure."]}


[System] You are BLUM Finance, an evidence-bound financial reasoning model. Use only supplied point-in-time evidence and abstain when it is insufficient.

[User] {"as_of": "2026-07-13T11:12:52.689851", "evidence": [{"type": "supporting", "value": "Momentum score is 87.4."}, {"type": "supporting", "value": "Trend score is 71.7; price structure is supportive."}, {"type": "supporting", "value": "Sentiment confirms part of the thesis with 7D sentiment 0.18."}, {"type": "supporting", "value": "News flow is active with 122 linked 7D records."}, {"type": "supporting", "value": "Fundamental evidence is supportive with score 76.0."}, {"type": "contradicting", "value": "The latest signal is explicitly marked High risk."}, {"type": "risk", "value": "Risk evidence is incomplete and requires verification."}], "horizon": "swing", "market_context": {"macro_environment": {}, "market_breadth": {}, "market_regime": "Risk-Off", "risk_sentiment": "High Risk", "sector_performance": {"relative_strength": 0.0}, "signal_regime_adjustment": "No material regime adjustment beyond standard confirmation checks.", "timestamp": "2026-07-13T11:12:52.684914", "volatility_regime": "high_volatility"}, "portfolio_context": {}, "question": "Evaluate the evidence and state what would change the view.", "ticker": "AMAT"}

[Assistant] {"bear_case": ["The latest signal is explicitly marked High risk."], "bull_case": ["Momentum score is 87.4.", "Trend score is 71.7; price structure is supportive.", "Sentiment confirms part of the thesis with 7D sentiment 0.18.", "News flow is active with 122 linked 7D records.", "Fundamental evidence is supportive with score 76.0."], "confidence": 100.0, "invalidation_conditions": ["Loss of support near 403.75.", "Sentiment turns negative while price momentum fades.", "ETF or sector confirmation fails to appear after the next market refresh.", "Volatility expands further without a compensating increase in evidence quality.", "Positive narrative becomes crowded but no longer improves price structure."], "risks": ["Risk evidence is incomplete and requires verification."], "status": "watch", "thesis": "AMAT (Applied Materials Inc.) is a Watch research setup with Blum score 69.1 and thesis conviction 73.7/100 in a Risk-Off regime. The working explanation is: Narrative activity is visible but has not yet translated into a decisive price move. Primary support: Momentum score is 87.4. Main challenge: The latest signal is explicitly marked High risk.", "what_would_change_the_view": ["Loss of support near 403.75.", "Sentiment turns negative while price momentum fades.", "ETF or sector confirmation fails to appear after the next market refresh.", "Volatility expands further without a compensating increase in evidence quality.", "Positive narrative becomes crowded but no longer improves price structure."]}


News flow is active with 121 linked 7D records.

[System] You are BLUM Finance, an evidence-bound financial reasoning model. Use only supplied point-in-time evidence and abstain when it is insufficient.

[User] {"as_of": "2026-07-13T11:53:18.618736", "evidence": [{"type": "supporting", "value": "Momentum score is 87.4."}, {"type": "supporting", "value": "Trend score is 71.7; price structure is supportive."}, {"type": "supporting", "value": "Sentiment confirms part of the thesis with 7D sentiment 0.18."}, {"type": "supporting", "value": "News flow is active with 121 linked 7D records."}, {"type": "supporting", "value": "Fundamental evidence is supportive with score 76.0."}, {"type": "contradicting", "value": "The latest signal is explicitly marked High risk."}, {"type": "risk", "value": "Risk evidence is incomplete and requires verification."}], "horizon": "swing", "market_context": {"macro_environment": {}, "market_breadth": {}, "market_regime": "Risk-Off", "risk_sentiment": "High Risk", "sector_performance": {"relative_strength": 0.0}, "signal_regime_adjustment": "No material regime adjustment beyond standard confirmation checks.", "timestamp": "2026-07-13T11:53:18.612914", "volatility_regime": "high_volatility"}, "portfolio_context": {}, "question": "Evaluate the evidence and state what would change the view.", "ticker": "AMAT"}

[Assistant] {"bear_case": ["The latest signal is explicitly marked High risk."], "bull_case": ["Momentum score is 87.4.", "Trend score is 71.7; price structure is supportive.", "Sentiment confirms part of the thesis with 7D sentiment 0.18.", "News flow is active with 121 linked 7D records.", "Fundamental evidence is supportive with score 76.0."], "confidence": 100.0, "invalidation_conditions": ["Loss of support near 403.75.", "Sentiment turns negative while price momentum fades.", "ETF or sector confirmation fails to appear after the next market refresh.", "Volatility expands further without a compensating increase in evidence quality.", "Positive narrative becomes crowded but no longer improves price structure."], "risks": ["Risk evidence is incomplete and requires verification."], "status": "watch", "thesis": "AMAT (Applied Materials Inc.) is a Watch research setup with Blum score 69.1 and thesis conviction 73.7/100 in a Risk-Off regime. The working explanation is: Narrative activity is visible but has not yet translated into a decisive price move. Primary support: Momentum score is 87.4. Main challenge: The latest signal is explicitly marked High risk.", "what_would_change_the_view": ["Loss of support near 403.75.", "Sentiment turns negative while price momentum fades.", "ETF or sector confirmation fails to appear after the next market refresh.", "Volatility expands further without a compensating increase in evidence quality.", "Positive narrative becomes crowded but no longer improves price structure."]}


Sentiment confirms part of the thesis with 7D sentiment 0.17.

News flow is active with 120 linked 7D records.

[System] You are BLUM Finance, an evidence-bound financial reasoning model. Use only supplied point-in-time evidence and abstain when it is insufficient.

[User] {"as_of": "2026-07-13T12:34:42.114823", "evidence": [{"type": "supporting", "value": "Momentum score is 87.4."}, {"type": "supporting", "value": "Trend score is 71.7; price structure is supportive."}, {"type": "supporting", "value": "Sentiment confirms part of the thesis with 7D sentiment 0.17."}, {"type": "supporting", "value": "News flow is active with 120 linked 7D records."}, {"type": "supporting", "value": "Fundamental evidence is supportive with score 76.0."}, {"type": "contradicting", "value": "The latest signal is explicitly marked High risk."}, {"type": "risk", "value": "Risk evidence is incomplete and requires verification."}], "horizon": "swing", "market_context": {"macro_environment": {}, "market_breadth": {}, "market_regime": "Risk-Off", "risk_sentiment": "High Risk", "sector_performance": {"relative_strength": 0.0}, "signal_regime_adjustment": "No material regime adjustment beyond standard confirmation checks.", "timestamp": "2026-07-13T12:34:42.108422", "volatility_regime": "high_volatility"}, "portfolio_context": {}, "question": "Evaluate the evidence and state what would change the view.", "ticker": "AMAT"}

[Assistant] {"bear_case": ["The latest signal is explicitly marked High risk."], "bull_case": ["Momentum score is 87.4.", "Trend score is 71.7; price structure is supportive.", "Sentiment confirms part of the thesis with 7D sentiment 0.17.", "News flow is active with 120 linked 7D records.", "Fundamental evidence is supportive with score 76.0."], "confidence": 100.0, "invalidation_conditions": ["Loss of support near 403.75.", "Sentiment turns negative while price momentum fades.", "ETF or sector confirmation fails to appear after the next market refresh.", "Volatility expands further without a compensating increase in evidence quality.", "Positive narrative becomes crowded but no longer improves price structure."], "risks": ["Risk evidence is incomplete and requires verification."], "status": "watch", "thesis": "AMAT (Applied Materials Inc.) is a Watch research setup with Blum score 69.1 and thesis conviction 73.7/100 in a Risk-Off regime. The working explanation is: Narrative activity is visible but has not yet translated into a decisive price move. Primary support: Momentum score is 87.4. Main challenge: The latest signal is explicitly marked High risk.", "what_would_change_the_view": ["Loss of support near 403.75.", "Sentiment turns negative while price momentum fades.", "ETF or sector confirmation fails to appear after the next market refresh.", "Volatility expands further without a compensating increase in evidence quality.", "Positive narrative becomes crowded but no longer improves price structure."]}


[System] You are BLUM Finance, an evidence-bound financial reasoning model. Use only supplied point-in-time evidence and abstain when it is insufficient.

[User] {"as_of": "2026-07-13T13:15:09.618774", "evidence": [{"type": "supporting", "value": "Momentum score is 87.4."}, {"type": "supporting", "value": "Trend score is 71.7; price structure is supportive."}, {"type": "supporting", "value": "Sentiment confirms part of the thesis with 7D sentiment 0.17."}, {"type": "supporting", "value": "News flow is active with 121 linked 7D records."}, {"type": "supporting", "value": "Fundamental evidence is supportive with score 76.0."}, {"type": "contradicting", "value": "The latest signal is explicitly marked High risk."}, {"type": "risk", "value": "Risk evidence is incomplete and requires verification."}], "horizon": "swing", "market_context": {"macro_environment": {}, "market_breadth": {}, "market_regime": "Risk-Off", "risk_sentiment": "High Risk", "sector_performance": {"relative_strength": 0.0}, "signal_regime_adjustment": "No material regime adjustment beyond standard confirmation checks.", "timestamp": "2026-07-13T13:15:09.613147", "volatility_regime": "high_volatility"}, "portfolio_context": {}, "question": "Evaluate the evidence and state what would change the view.", "ticker": "AMAT"}

[Assistant] {"bear_case": ["The latest signal is explicitly marked High risk."], "bull_case": ["Momentum score is 87.4.", "Trend score is 71.7; price structure is supportive.", "Sentiment confirms part of the thesis with 7D sentiment 0.17.", "News flow is active with 121 linked 7D records.", "Fundamental evidence is supportive with score 76.0."], "confidence": 100.0, "invalidation_conditions": ["Loss of support near 403.75.", "Sentiment turns negative while price momentum fades.", "ETF or sector confirmation fails to appear after the next market refresh.", "Volatility expands further without a compensating increase in evidence quality.", "Positive narrative becomes crowded but no longer improves price structure."], "risks": ["Risk evidence is incomplete and requires verification."], "status": "watch", "thesis": "AMAT (Applied Materials Inc.) is a Watch research setup with Blum score 69.1 and thesis conviction 73.7/100 in a Risk-Off regime. The working explanation is: Narrative activity is visible but has not yet translated into a decisive price move. Primary support: Momentum score is 87.4. Main challenge: The latest signal is explicitly marked High risk.", "what_would_change_the_view": ["Loss of support near 403.75.", "Sentiment turns negative while price momentum fades.", "ETF or sector confirmation fails to appear after the next market refresh.", "Volatility expands further without a compensating increase in evidence quality.", "Positive narrative becomes crowded but no longer improves price structure."]}


[System] You are BLUM Finance, an evidence-bound financial reasoning model. Use only supplied point-in-time evidence and abstain when it is insufficient.

[User] {"as_of": "2026-07-13T13:54:40.507723", "evidence": [{"type": "supporting", "value": "Momentum score is 87.4."}, {"type": "supporting", "value": "Trend score is 71.7; price structure is supportive."}, {"type": "supporting", "value": "Sentiment confirms part of the thesis with 7D sentiment 0.17."}, {"type": "supporting", "value": "News flow is active with 120 linked 7D records."}, {"type": "supporting", "value": "Fundamental evidence is supportive with score 76.0."}, {"type": "contradicting", "value": "The latest signal is explicitly marked High risk."}, {"type": "risk", "value": "Risk evidence is incomplete and requires verification."}], "horizon": "swing", "market_context": {"macro_environment": {}, "market_breadth": {}, "market_regime": "Risk-Off", "risk_sentiment": "High Risk", "sector_performance": {"relative_strength": 0.0}, "signal_regime_adjustment": "No material regime adjustment beyond standard confirmation checks.", "timestamp": "2026-07-13T13:54:40.502617", "volatility_regime": "high_volatility"}, "portfolio_context": {}, "question": "Evaluate the evidence and state what would change the view.", "ticker": "AMAT"}

[Assistant] {"bear_case": ["The latest signal is explicitly marked High risk."], "bull_case": ["Momentum score is 87.4.", "Trend score is 71.7; price structure is supportive.", "Sentiment confirms part of the thesis with 7D sentiment 0.17.", "News flow is active with 120 linked 7D records.", "Fundamental evidence is supportive with score 76.0."], "confidence": 100.0, "invalidation_conditions": ["Loss of support near 403.75.", "Sentiment turns negative while price momentum fades.", "ETF or sector confirmation fails to appear after the next market refresh.", "Volatility expands further without a compensating increase in evidence quality.", "Positive narrative becomes crowded but no longer improves price structure."], "risks": ["Risk evidence is incomplete and requires verification."], "status": "watch", "thesis": "AMAT (Applied Materials Inc.) is a Watch research setup with Blum score 69.1 and thesis conviction 73.6/100 in a Risk-Off regime. The working explanation is: Narrative activity is visible but has not yet translated into a decisive price move. Primary support: Momentum score is 87.4. Main challenge: The latest signal is explicitly marked High risk.", "what_would_change_the_view": ["Loss of support near 403.75.", "Sentiment turns negative while price momentum fades.", "ETF or sector confirmation fails to appear after the next market refresh.", "Volatility expands further without a compensating increase in evidence quality.", "Positive narrative becomes crowded but no longer improves price structure."]}


Sentiment confirms part of the thesis with 7D sentiment 0.14.

[System] You are BLUM Finance, an evidence-bound financial reasoning model. Use only supplied point-in-time evidence and abstain when it is insufficient.

[User] {"as_of": "2026-07-13T14:36:04.616876", "evidence": [{"type": "supporting", "value": "Momentum score is 87.4."}, {"type": "supporting", "value": "Trend score is 71.7; price structure is supportive."}, {"type": "supporting", "value": "Sentiment confirms part of the thesis with 7D sentiment 0.14."}, {"type": "supporting", "value": "News flow is active with 120 linked 7D records."}, {"type": "supporting", "value": "Fundamental evidence is supportive with score 76.0."}, {"type": "contradicting", "value": "The latest signal is explicitly marked High risk."}, {"type": "risk", "value": "Risk evidence is incomplete and requires verification."}], "horizon": "swing", "market_context": {"macro_environment": {}, "market_breadth": {}, "market_regime": "Risk-Off", "risk_sentiment": "High Risk", "sector_performance": {"relative_strength": 0.0}, "signal_regime_adjustment": "No material regime adjustment beyond standard confirmation checks.", "timestamp": "2026-07-13T14:36:04.610699", "volatility_regime": "high_volatility"}, "portfolio_context": {}, "question": "Evaluate the evidence and state what would change the view.", "ticker": "AMAT"}

[Assistant] {"bear_case": ["The latest signal is explicitly marked High risk."], "bull_case": ["Momentum score is 87.4.", "Trend score is 71.7; price structure is supportive.", "Sentiment confirms part of the thesis with 7D sentiment 0.14.", "News flow is active with 120 linked 7D records.", "Fundamental evidence is supportive with score 76.0."], "confidence": 100.0, "invalidation_conditions": ["Loss of support near 403.75.", "Sentiment turns negative while price momentum fades.", "ETF or sector confirmation fails to appear after the next market refresh.", "Volatility expands further without a compensating increase in evidence quality.", "Positive narrative becomes crowded but no longer improves price structure."], "risks": ["Risk evidence is incomplete and requires verification."], "status": "watch", "thesis": "AMAT (Applied Materials Inc.) is a Watch research setup with Blum score 68.9 and thesis conviction 73.4/100 in a Risk-Off regime. The working explanation is: Narrative activity is visible but has not yet translated into a decisive price move. Primary support: Momentum score is 87.4. Main challenge: The latest signal is explicitly marked High risk.", "what_would_change_the_view": ["Loss of support near 403.75.", "Sentiment turns negative while price momentum fades.", "ETF or sector confirmation fails to appear after the next market refresh.", "Volatility expands further without a compensating increase in evidence quality.", "Positive narrative becomes crowded but no longer improves price structure."]}


Sentiment confirms part of the thesis with 7D sentiment 0.15.

News flow is active with 113 linked 7D records.

[System] You are BLUM Finance, an evidence-bound financial reasoning model. Use only supplied point-in-time evidence and abstain when it is insufficient.

[User] {"as_of": "2026-07-13T15:36:49.810550", "evidence": [{"type": "supporting", "value": "Momentum score is 87.4."}, {"type": "supporting", "value": "Trend score is 71.7; price structure is supportive."}, {"type": "supporting", "value": "Sentiment confirms part of the thesis with 7D sentiment 0.15."}, {"type": "supporting", "value": "News flow is active with 113 linked 7D records."}, {"type": "supporting", "value": "Fundamental evidence is supportive with score 76.0."}, {"type": "contradicting", "value": "The latest signal is explicitly marked High risk."}, {"type": "risk", "value": "Risk evidence is incomplete and requires verification."}], "horizon": "swing", "market_context": {"macro_environment": {}, "market_breadth": {}, "market_regime": "Risk-Off", "risk_sentiment": "High Risk", "sector_performance": {"relative_strength": 0.0}, "signal_regime_adjustment": "No material regime adjustment beyond standard confirmation checks.", "timestamp": "2026-07-13T15:36:49.805755", "volatility_regime": "high_volatility"}, "portfolio_context": {}, "question": "Evaluate the evidence and state what would change the view.", "ticker": "AMAT"}

[Assistant] {"bear_case": ["The latest signal is explicitly marked High risk."], "bull_case": ["Momentum score is 87.4.", "Trend score is 71.7; price structure is supportive.", "Sentiment confirms part of the thesis with 7D sentiment 0.15.", "News flow is active with 113 linked 7D records.", "Fundamental evidence is supportive with score 76.0."], "confidence": 100.0, "invalidation_conditions": ["Loss of support near 403.75.", "Sentiment turns negative while price momentum fades.", "ETF or sector confirmation fails to appear after the next market refresh.", "Volatility expands further without a compensating increase in evidence quality.", "Positive narrative becomes crowded but no longer improves price structure."], "risks": ["Risk evidence is incomplete and requires verification."], "status": "watch", "thesis": "AMAT (Applied Materials Inc.) is a Watch research setup with Blum score 68.9 and thesis conviction 73.5/100 in a Risk-Off regime. The working explanation is: Narrative activity is visible but has not yet translated into a decisive price move. Primary support: Momentum score is 87.4. Main challenge: The latest signal is explicitly marked High risk.", "what_would_change_the_view": ["Loss of support near 403.75.", "Sentiment turns negative while price momentum fades.", "ETF or sector confirmation fails to appear after the next market refresh.", "Volatility expands further without a compensating increase in evidence quality.", "Positive narrative becomes crowded but no longer improves price structure."]}


[System] You are BLUM Finance, an evidence-bound financial reasoning model. Use only supplied point-in-time evidence and abstain when it is insufficient.

[User] {"as_of": "2026-07-13T16:17:37.303872", "evidence": [{"type": "supporting", "value": "Momentum score is 87.4."}, {"type": "supporting", "value": "Trend score is 71.7; price structure is supportive."}, {"type": "supporting", "value": "Sentiment confirms part of the thesis with 7D sentiment 0.15."}, {"type": "supporting", "value": "News flow is active with 113 linked 7D records."}, {"type": "supporting", "value": "Fundamental evidence is supportive with score 76.0."}, {"type": "contradicting", "value": "The latest signal is explicitly marked High risk."}, {"type": "risk", "value": "Risk evidence is incomplete and requires verification."}], "horizon": "swing", "market_context": {"macro_environment": {}, "market_breadth": {}, "market_regime": "Risk-Off", "risk_sentiment": "High Risk", "sector_performance": {"relative_strength": 0.0}, "signal_regime_adjustment": "No material regime adjustment beyond standard confirmation checks.", "timestamp": "2026-07-13T16:17:37.299425", "volatility_regime": "high_volatility"}, "portfolio_context": {}, "question": "Evaluate the evidence and state what would change the view.", "ticker": "AMAT"}

[Assistant] {"bear_case": ["The latest signal is explicitly marked High risk."], "bull_case": ["Momentum score is 87.4.", "Trend score is 71.7; price structure is supportive.", "Sentiment confirms part of the thesis with 7D sentiment 0.15.", "News flow is active with 113 linked 7D records.", "Fundamental evidence is supportive with score 76.0."], "confidence": 100.0, "invalidation_conditions": ["Loss of support near 403.75.", "Sentiment turns negative while price momentum fades.", "ETF or sector confirmation fails to appear after the next market refresh.", "Volatility expands further without a compensating increase in evidence quality.", "Positive narrative becomes crowded but no longer improves price structure."], "risks": ["Risk evidence is incomplete and requires verification."], "status": "watch", "thesis": "AMAT (Applied Materials Inc.) is a Watch research setup with Blum score 68.9 and thesis conviction 73.5/100 in a Risk-Off regime. The working explanation is: Narrative activity is visible but has not yet translated into a decisive price move. Primary support: Momentum score is 87.4. Main challenge: The latest signal is explicitly marked High risk.", "what_would_change_the_view": ["Loss of support near 403.75.", "Sentiment turns negative while price momentum fades.", "ETF or sector confirmation fails to appear after the next market refresh.", "Volatility expands further without a compensating increase in evidence quality.", "Positive narrative becomes crowded but no longer improves price structure."]}


[System] You are BLUM Finance, an evidence-bound financial reasoning model. Use only supplied point-in-time evidence and abstain when it is insufficient.

[User] {"as_of": "2026-07-13T16:58:23.068438", "evidence": [{"type": "supporting", "value": "Momentum score is 87.4."}, {"type": "supporting", "value": "Trend score is 71.7; price structure is supportive."}, {"type": "supporting", "value": "Sentiment confirms part of the thesis with 7D sentiment 0.15."}, {"type": "supporting", "value": "News flow is active with 113 linked 7D records."}, {"type": "supporting", "value": "Fundamental evidence is supportive with score 76.0."}, {"type": "contradicting", "value": "The latest signal is explicitly marked High risk."}, {"type": "risk", "value": "Risk evidence is incomplete and requires verification."}], "horizon": "swing", "market_context": {"macro_environment": {}, "market_breadth": {}, "market_regime": "Risk-Off", "risk_sentiment": "High Risk", "sector_performance": {"relative_strength": 0.0}, "signal_regime_adjustment": "No material regime adjustment beyond standard confirmation checks.", "timestamp": "2026-07-13T16:58:23.062593", "volatility_regime": "high_volatility"}, "portfolio_context": {}, "question": "Evaluate the evidence and state what would change the view.", "ticker": "AMAT"}

[Assistant] {"bear_case": ["The latest signal is explicitly marked High risk."], "bull_case": ["Momentum score is 87.4.", "Trend score is 71.7; price structure is supportive.", "Sentiment confirms part of the thesis with 7D sentiment 0.15.", "News flow is active with 113 linked 7D records.", "Fundamental evidence is supportive with score 76.0."], "confidence": 100.0, "invalidation_conditions": ["Loss of support near 403.75.", "Sentiment turns negative while price momentum fades.", "ETF or sector confirmation fails to appear after the next market refresh.", "Volatility expands further without a compensating increase in evidence quality.", "Positive narrative becomes crowded but no longer improves price structure."], "risks": ["Risk evidence is incomplete and requires verification."], "status": "watch", "thesis": "AMAT (Applied Materials Inc.) is a Watch research setup with Blum score 68.9 and thesis conviction 73.5/100 in a Risk-Off regime. The working explanation is: Narrative activity is visible but has not yet translated into a decisive price move. Primary support: Momentum score is 87.4. Main challenge: The latest signal is explicitly marked High risk.", "what_would_change_the_view": ["Loss of support near 403.75.", "Sentiment turns negative while price momentum fades.", "ETF or sector confirmation fails to appear after the next market refresh.", "Volatility expands further without a compensating increase in evidence quality.", "Positive narrative becomes crowded but no longer improves price structure."]}


News flow is active with 112 linked 7D records.

[System] You are BLUM Finance, an evidence-bound financial reasoning model. Use only supplied point-in-time evidence and abstain when it is insufficient.

[User] {"as_of": "2026-07-13T17:39:00.559201", "evidence": [{"type": "supporting", "value": "Momentum score is 87.4."}, {"type": "supporting", "value": "Trend score is 71.7; price structure is supportive."}, {"type": "supporting", "value": "Sentiment confirms part of the thesis with 7D sentiment 0.15."}, {"type": "supporting", "value": "News flow is active with 112 linked 7D records."}, {"type": "supporting", "value": "Fundamental evidence is supportive with score 76.0."}, {"type": "contradicting", "value": "The latest signal is explicitly marked High risk."}, {"type": "risk", "value": "Risk evidence is incomplete and requires verification."}], "horizon": "swing", "market_context": {"macro_environment": {}, "market_breadth": {}, "market_regime": "Risk-Off", "risk_sentiment": "High Risk", "sector_performance": {"relative_strength": 0.0}, "signal_regime_adjustment": "No material regime adjustment beyond standard confirmation checks.", "timestamp": "2026-07-13T17:39:00.554648", "volatility_regime": "high_volatility"}, "portfolio_context": {}, "question": "Evaluate the evidence and state what would change the view.", "ticker": "AMAT"}

[Assistant] {"bear_case": ["The latest signal is explicitly marked High risk."], "bull_case": ["Momentum score is 87.4.", "Trend score is 71.7; price structure is supportive.", "Sentiment confirms part of the thesis with 7D sentiment 0.15.", "News flow is active with 112 linked 7D records.", "Fundamental evidence is supportive with score 76.0."], "confidence": 100.0, "invalidation_conditions": ["Loss of support near 403.75.", "Sentiment turns negative while price momentum fades.", "ETF or sector confirmation fails to appear after the next market refresh.", "Volatility expands further without a compensating increase in evidence quality.", "Positive narrative becomes crowded but no longer improves price structure."], "risks": ["Risk evidence is incomplete and requires verification."], "status": "watch", "thesis": "AMAT (Applied Materials Inc.) is a Watch research setup with Blum score 68.9 and thesis conviction 73.5/100 in a Risk-Off regime. The working explanation is: Narrative activity is visible but has not yet translated into a decisive price move. Primary support: Momentum score is 87.4. Main challenge: The latest signal is explicitly marked High risk.", "what_would_change_the_view": ["Loss of support near 403.75.", "Sentiment turns negative while price momentum fades.", "ETF or sector confirmation fails to appear after the next market refresh.", "Volatility expands further without a compensating increase in evidence quality.", "Positive narrative becomes crowded but no longer improves price structure."]}


[System] You are BLUM Finance, an evidence-bound financial reasoning model. Use only supplied point-in-time evidence and abstain when it is insufficient.

[User] {"as_of": "2026-07-13T18:20:24.190273", "evidence": [{"type": "supporting", "value": "Momentum score is 87.4."}, {"type": "supporting", "value": "Trend score is 71.7; price structure is supportive."}, {"type": "supporting", "value": "Sentiment confirms part of the thesis with 7D sentiment 0.14."}, {"type": "supporting", "value": "News flow is active with 113 linked 7D records."}, {"type": "supporting", "value": "Fundamental evidence is supportive with score 76.0."}, {"type": "contradicting", "value": "The latest signal is explicitly marked High risk."}, {"type": "risk", "value": "Risk evidence is incomplete and requires verification."}], "horizon": "swing", "market_context": {"macro_environment": {}, "market_breadth": {}, "market_regime": "Risk-Off", "risk_sentiment": "High Risk", "sector_performance": {"relative_strength": 0.0}, "signal_regime_adjustment": "No material regime adjustment beyond standard confirmation checks.", "timestamp": "2026-07-13T18:20:24.186038", "volatility_regime": "high_volatility"}, "portfolio_context": {}, "question": "Evaluate the evidence and state what would change the view.", "ticker": "AMAT"}

[Assistant] {"bear_case": ["The latest signal is explicitly marked High risk."], "bull_case": ["Momentum score is 87.4.", "Trend score is 71.7; price structure is supportive.", "Sentiment confirms part of the thesis with 7D sentiment 0.14.", "News flow is active with 113 linked 7D records.", "Fundamental evidence is supportive with score 76.0."], "confidence": 100.0, "invalidation_conditions": ["Loss of support near 403.75.", "Sentiment turns negative while price momentum fades.", "ETF or sector confirmation fails to appear after the next market refresh.", "Volatility expands further without a compensating increase in evidence quality.", "Positive narrative becomes crowded but no longer improves price structure."], "risks": ["Risk evidence is incomplete and requires verification."], "status": "watch", "thesis": "AMAT (Applied Materials Inc.) is a Watch research setup with Blum score 68.8 and thesis conviction 73.4/100 in a Risk-Off regime. The working explanation is: Narrative activity is visible but has not yet translated into a decisive price move. Primary support: Momentum score is 87.4. Main challenge: The latest signal is explicitly marked High risk.", "what_would_change_the_view": ["Loss of support near 403.75.", "Sentiment turns negative while price momentum fades.", "ETF or sector confirmation fails to appear after the next market refresh.", "Volatility expands further without a compensating increase in evidence quality.", "Positive narrative becomes crowded but no longer improves price structure."]}


News flow is active with 114 linked 7D records.

[System] You are BLUM Finance, an evidence-bound financial reasoning model. Use only supplied point-in-time evidence and abstain when it is insufficient.

[User] {"as_of": "2026-07-13T19:41:41.371370", "evidence": [{"type": "supporting", "value": "Momentum score is 87.4."}, {"type": "supporting", "value": "Trend score is 71.7; price structure is supportive."}, {"type": "supporting", "value": "Sentiment confirms part of the thesis with 7D sentiment 0.15."}, {"type": "supporting", "value": "News flow is active with 114 linked 7D records."}, {"type": "supporting", "value": "Fundamental evidence is supportive with score 76.0."}, {"type": "contradicting", "value": "The latest signal is explicitly marked High risk."}, {"type": "risk", "value": "Risk evidence is incomplete and requires verification."}], "horizon": "swing", "market_context": {"macro_environment": {}, "market_breadth": {}, "market_regime": "Risk-Off", "risk_sentiment": "High Risk", "sector_performance": {"relative_strength": 0.0}, "signal_regime_adjustment": "No material regime adjustment beyond standard confirmation checks.", "timestamp": "2026-07-13T19:41:41.366264", "volatility_regime": "high_volatility"}, "portfolio_context": {}, "question": "Evaluate the evidence and state what would change the view.", "ticker": "AMAT"}

[Assistant] {"bear_case": ["The latest signal is explicitly marked High risk."], "bull_case": ["Momentum score is 87.4.", "Trend score is 71.7; price structure is supportive.", "Sentiment confirms part of the thesis with 7D sentiment 0.15.", "News flow is active with 114 linked 7D records.", "Fundamental evidence is supportive with score 76.0."], "confidence": 100.0, "invalidation_conditions": ["Loss of support near 403.75.", "Sentiment turns negative while price momentum fades.", "ETF or sector confirmation fails to appear after the next market refresh.", "Volatility expands further without a compensating increase in evidence quality.", "Positive narrative becomes crowded but no longer improves price structure."], "risks": ["Risk evidence is incomplete and requires verification."], "status": "watch", "thesis": "AMAT (Applied Materials Inc.) is a Watch research setup with Blum score 68.9 and thesis conviction 73.5/100 in a Risk-Off regime. The working explanation is: Narrative activity is visible but has not yet translated into a decisive price move. Primary support: Momentum score is 87.4. Main challenge: The latest signal is explicitly marked High risk.", "what_would_change_the_view": ["Loss of support near 403.75.", "Sentiment turns negative while price momentum fades.", "ETF or sector confirmation fails to appear after the next market refresh.", "Volatility expands further without a compensating increase in evidence quality.", "Positive narrative becomes crowded but no longer improves price structure."]}


[System] You are BLUM Finance, an evidence-bound financial reasoning model. Use only supplied point-in-time evidence and abstain when it is insufficient.

[User] {"as_of": "2026-07-13T20:22:36.136634", "evidence": [{"type": "supporting", "value": "Momentum score is 87.4."}, {"type": "supporting", "value": "Trend score is 71.7; price structure is supportive."}, {"type": "supporting", "value": "Sentiment confirms part of the thesis with 7D sentiment 0.15."}, {"type": "supporting", "value": "News flow is active with 113 linked 7D records."}, {"type": "supporting", "value": "Fundamental evidence is supportive with score 76.0."}, {"type": "contradicting", "value": "The latest signal is explicitly marked High risk."}, {"type": "risk", "value": "Risk evidence is incomplete and requires verification."}], "horizon": "swing", "market_context": {"macro_environment": {}, "market_breadth": {}, "market_regime": "Risk-Off", "risk_sentiment": "High Risk", "sector_performance": {"relative_strength": 0.0}, "signal_regime_adjustment": "No material regime adjustment beyond standard confirmation checks.", "timestamp": "2026-07-13T20:22:36.122421", "volatility_regime": "high_volatility"}, "portfolio_context": {}, "question": "Evaluate the evidence and state what would change the view.", "ticker": "AMAT"}

[Assistant] {"bear_case": ["The latest signal is explicitly marked High risk."], "bull_case": ["Momentum score is 87.4.", "Trend score is 71.7; price structure is supportive.", "Sentiment confirms part of the thesis with 7D sentiment 0.15.", "News flow is active with 113 linked 7D records.", "Fundamental evidence is supportive with score 76.0."], "confidence": 100.0, "invalidation_conditions": ["Loss of support near 403.75.", "Sentiment turns negative while price momentum fades.", "ETF or sector confirmation fails to appear after the next market refresh.", "Volatility expands further without a compensating increase in evidence quality.", "Positive narrative becomes crowded but no longer improves price structure."], "risks": ["Risk evidence is incomplete and requires verification."], "status": "watch", "thesis": "AMAT (Applied Materials Inc.) is a Watch research setup with Blum score 68.9 and thesis conviction 73.5/100 in a Risk-Off regime. The working explanation is: Narrative activity is visible but has not yet translated into a decisive price move. Primary support: Momentum score is 87.4. Main challenge: The latest signal is explicitly marked High risk.", "what_would_change_the_view": ["Loss of support near 403.75.", "Sentiment turns negative while price momentum fades.", "ETF or sector confirmation fails to appear after the next market refresh.", "Volatility expands further without a compensating increase in evidence quality.", "Positive narrative becomes crowded but no longer improves price structure."]}


[System] You are BLUM Finance, an evidence-bound financial reasoning model. Use only supplied point-in-time evidence and abstain when it is insufficient.

[User] {"as_of": "2026-07-13T21:04:36.887950", "evidence": [{"type": "supporting", "value": "Momentum score is 87.4."}, {"type": "supporting", "value": "Trend score is 71.7; price structure is supportive."}, {"type": "supporting", "value": "Sentiment confirms part of the thesis with 7D sentiment 0.15."}, {"type": "supporting", "value": "News flow is active with 113 linked 7D records."}, {"type": "supporting", "value": "Fundamental evidence is supportive with score 76.0."}, {"type": "contradicting", "value": "The latest signal is explicitly marked High risk."}, {"type": "risk", "value": "Risk evidence is incomplete and requires verification."}], "horizon": "swing", "market_context": {"macro_environment": {}, "market_breadth": {}, "market_regime": "Risk-Off", "risk_sentiment": "High Risk", "sector_performance": {"relative_strength": 0.0}, "signal_regime_adjustment": "No material regime adjustment beyond standard confirmation checks.", "timestamp": "2026-07-13T21:04:36.863923", "volatility_regime": "high_volatility"}, "portfolio_context": {}, "question": "Evaluate the evidence and state what would change the view.", "ticker": "AMAT"}

[Assistant] {"bear_case": ["The latest signal is explicitly marked High risk."], "bull_case": ["Momentum score is 87.4.", "Trend score is 71.7; price structure is supportive.", "Sentiment confirms part of the thesis with 7D sentiment 0.15.", "News flow is active with 113 linked 7D records.", "Fundamental evidence is supportive with score 76.0."], "confidence": 100.0, "invalidation_conditions": ["Loss of support near 403.75.", "Sentiment turns negative while price momentum fades.", "ETF or sector confirmation fails to appear after the next market refresh.", "Volatility expands further without a compensating increase in evidence quality.", "Positive narrative becomes crowded but no longer improves price structure."], "risks": ["Risk evidence is incomplete and requires verification."], "status": "watch", "thesis": "AMAT (Applied Materials Inc.) is a Watch research setup with Blum score 68.9 and thesis conviction 73.5/100 in a Risk-Off regime. The working explanation is: Narrative activity is visible but has not yet translated into a decisive price move. Primary support: Momentum score is 87.4. Main challenge: The latest signal is explicitly marked High risk.", "what_would_change_the_view": ["Loss of support near 403.75.", "Sentiment turns negative while price momentum fades.", "ETF or sector confirmation fails to appear after the next market refresh.", "Volatility expands further without a compensating increase in evidence quality.", "Positive narrative becomes crowded but no longer improves price structure."]}


[System] You are BLUM Finance, an evidence-bound financial reasoning model. Use only supplied point-in-time evidence and abstain when it is insufficient.

[User] {"as_of": "2026-07-13T23:06:47.037488", "evidence": [{"type": "supporting", "value": "Momentum score is 87.4."}, {"type": "supporting", "value": "Trend score is 71.7; price structure is supportive."}, {"type": "supporting", "value": "Sentiment confirms part of the thesis with 7D sentiment 0.15."}, {"type": "supporting", "value": "News flow is active with 112 linked 7D records."}, {"type": "supporting", "value": "Fundamental evidence is supportive with score 76.0."}, {"type": "contradicting", "value": "The latest signal is explicitly marked High risk."}, {"type": "risk", "value": "Risk evidence is incomplete and requires verification."}], "horizon": "swing", "market_context": {"macro_environment": {}, "market_breadth": {}, "market_regime": "Risk-Off", "risk_sentiment": "High Risk", "sector_performance": {"relative_strength": 0.0}, "signal_regime_adjustment": "No material regime adjustment beyond standard confirmation checks.", "timestamp": "2026-07-13T23:06:47.027838", "volatility_regime": "high_volatility"}, "portfolio_context": {}, "question": "Evaluate the evidence and state what would change the view.", "ticker": "AMAT"}

[Assistant] {"bear_case": ["The latest signal is explicitly marked High risk."], "bull_case": ["Momentum score is 87.4.", "Trend score is 71.7; price structure is supportive.", "Sentiment confirms part of the thesis with 7D sentiment 0.15.", "News flow is active with 112 linked 7D records.", "Fundamental evidence is supportive with score 76.0."], "confidence": 100.0, "invalidation_conditions": ["Loss of support near 403.75.", "Sentiment turns negative while price momentum fades.", "ETF or sector confirmation fails to appear after the next market refresh.", "Volatility expands further without a compensating increase in evidence quality.", "Positive narrative becomes crowded but no longer improves price structure."], "risks": ["Risk evidence is incomplete and requires verification."], "status": "watch", "thesis": "AMAT (Applied Materials Inc.) is a Watch research setup with Blum score 68.9 and thesis conviction 73.5/100 in a Risk-Off regime. The working explanation is: Narrative activity is visible but has not yet translated into a decisive price move. Primary support: Momentum score is 87.4. Main challenge: The latest signal is explicitly marked High risk.", "what_would_change_the_view": ["Loss of support near 403.75.", "Sentiment turns negative while price momentum fades.", "ETF or sector confirmation fails to appear after the next market refresh.", "Volatility expands further without a compensating increase in evidence quality.", "Positive narrative becomes crowded but no longer improves price structure."]}


[System] You are BLUM Finance, an evidence-bound financial reasoning model. Use only supplied point-in-time evidence and abstain when it is insufficient.

[User] {"as_of": "2026-07-13T23:47:19.530828", "evidence": [{"type": "supporting", "value": "Momentum score is 87.4."}, {"type": "supporting", "value": "Trend score is 71.7; price structure is supportive."}, {"type": "supporting", "value": "Sentiment confirms part of the thesis with 7D sentiment 0.15."}, {"type": "supporting", "value": "News flow is active with 112 linked 7D records."}, {"type": "supporting", "value": "Fundamental evidence is supportive with score 76.0."}, {"type": "contradicting", "value": "The latest signal is explicitly marked High risk."}, {"type": "risk", "value": "Risk evidence is incomplete and requires verification."}], "horizon": "swing", "market_context": {"macro_environment": {}, "market_breadth": {}, "market_regime": "Risk-Off", "risk_sentiment": "High Risk", "sector_performance": {"relative_strength": 0.0}, "signal_regime_adjustment": "No material regime adjustment beyond standard confirmation checks.", "timestamp": "2026-07-13T23:47:19.522568", "volatility_regime": "high_volatility"}, "portfolio_context": {}, "question": "Evaluate the evidence and state what would change the view.", "ticker": "AMAT"}

[Assistant] {"bear_case": ["The latest signal is explicitly marked High risk."], "bull_case": ["Momentum score is 87.4.", "Trend score is 71.7; price structure is supportive.", "Sentiment confirms part of the thesis with 7D sentiment 0.15.", "News flow is active with 112 linked 7D records.", "Fundamental evidence is supportive with score 76.0."], "confidence": 100.0, "invalidation_conditions": ["Loss of support near 403.75.", "Sentiment turns negative while price momentum fades.", "ETF or sector confirmation fails to appear after the next market refresh.", "Volatility expands further without a compensating increase in evidence quality.", "Positive narrative becomes crowded but no longer improves price structure."], "risks": ["Risk evidence is incomplete and requires verification."], "status": "watch", "thesis": "AMAT (Applied Materials Inc.) is a Watch research setup with Blum score 68.9 and thesis conviction 73.5/100 in a Risk-Off regime. The working explanation is: Narrative activity is visible but has not yet translated into a decisive price move. Primary support: Momentum score is 87.4. Main challenge: The latest signal is explicitly marked High risk.", "what_would_change_the_view": ["Loss of support near 403.75.", "Sentiment turns negative while price momentum fades.", "ETF or sector confirmation fails to appear after the next market refresh.", "Volatility expands further without a compensating increase in evidence quality.", "Positive narrative becomes crowded but no longer improves price structure."]}