{
  "status": "success",
  "provider": "codex",
  "model": "gpt-5.4",
  "priority_order": [
    "TSM",
    "ETN",
    "VXUS",
    "VRT",
    "GEV"
  ],
  "portfolio_note": "All candidates are WATCH/WAIT with no immediate capital deployment and a wait-heavy batch gate. Preserve optionality: prioritize only trigger-ready setups, avoid chasing resistance after sharp rebounds, and be especially cautious about concentration in AI, semiconductor, data-center, and power-infrastructure themes. VXUS improves diversification, while VRT and GEV should be sized more conservatively if triggered due to valuation, volatility, and data-quality flags.",
  "reason_by_ticker": {
    "TSM": {
      "summary": "Highest priority despite WAIT because the medium-term thesis is strong, confidence is solid, timing readiness is the best in the batch, and triggered score is highest. Still requires volume-backed breakout above 378.90 or controlled support confirmation near 359.54-351.56 before action.",
      "reason_codes": [
        "strongest_triggered_score",
        "best_timing_readiness",
        "constructive_medium_term_thesis",
        "volume_confirmation_needed",
        "resistance_nearby",
        "review_required_due_to_fallbacks"
      ],
      "review_required": true
    },
    "ETN": {
      "summary": "Second priority with high confidence and good trigger quality, supported by power infrastructure and cash-flow thesis. Entry remains conditional on a 407-408 volume-backed breakout or stabilized pullback near 386, with valuation and 52-week-high resistance limiting urgency.",
      "reason_codes": [
        "high_confidence",
        "good_trigger_quality",
        "constructive_power_infrastructure_thesis",
        "near_resistance_52_week_high",
        "valuation_sensitive",
        "entry_wait"
      ],
      "review_required": true
    },
    "VXUS": {
      "summary": "Moved ahead of the more crowded AI-infrastructure names for diversification value and lower single-stock risk, even though data quality is weaker and fallback count is high. Needs either a pullback rebound near 80.10-79.70 or confirmed close above 82.90 with follow-through.",
      "reason_codes": [
        "diversification_benefit",
        "lower_single_name_risk",
        "constructive_medium_term_thesis",
        "high_fallback_count",
        "intraday_snapshot_missing",
        "entry_wait"
      ],
      "review_required": true
    },
    "VRT": {
      "summary": "Constructive AI data-center infrastructure thesis, but priority is reduced for overbought conditions, high valuation, beta/ATR risk, high fallback count, and missing same-day intraday snapshot. Requires 312.46 breakout with volume or controlled support hold near 299.96/295.11.",
      "reason_codes": [
        "constructive_ai_infrastructure_thesis",
        "overbought_after_sharp_rebound",
        "high_valuation_risk",
        "high_beta_volatility",
        "data_quality_flags_present",
        "breakout_not_confirmed"
      ],
      "review_required": true
    },
    "GEV": {
      "summary": "Strong structural power-demand thesis but lowest priority because price is very extended near 999.43-1007.38 resistance, ATR and valuation risk are high, momentum confirmation has softened, and legal/execution risks add idiosyncratic uncertainty.",
      "reason_codes": [
        "constructive_power_demand_thesis",
        "extended_near_resistance",
        "momentum_not_confirmed",
        "high_valuation_risk",
        "legal_and_execution_risk",
        "entry_wait"
      ],
      "review_required": true
    }
  }
}