{
  "ok": true,
  "cacheHit": false,
  "result": {
    "asOf": "2026-07-10",
    "computedAt": "2026-07-11T12:32:03.266Z",
    "regime": "rich_near_high",
    "action": {
      "code": "SKIP_AND_SAVE",
      "title": "高估贴近新高：本月不投",
      "summary": "估值分位 >70% 且接近历史高点：本月定投进弹药仓，不追高。",
      "buy": null,
      "sell": null,
      "size": "0x",
      "ammo": "accumulate",
      "tqqqTargetPct": 0,
      "tqqqAllowed": "block",
      "steps": [
        "本月工资/定投全部进弹药仓",
        "不买入 QQQ / IQQ / TQQQ",
        "高估区可继续每月卖出约 1/12 TQQQ 锁利"
      ],
      "overlays": []
    },
    "lights": {
      "low": [
        {
          "id": "cheap",
          "on": false,
          "label": "估值便宜 (分位 < 20%)",
          "detail": "分位 91% · 现 29825 / 均线 12966"
        },
        {
          "id": "deepDrop",
          "on": false,
          "label": "深度回撤 (≥20%)",
          "detail": "回撤 -2.7% · 高点 30661 (2026-06-02) → 现 29825"
        },
        {
          "id": "panic",
          "on": false,
          "label": "极度恐慌 (VIX≥40)",
          "detail": "现 15.8 · 5日均 16.1 · 阈值 40"
        }
      ],
      "lowCount": 0,
      "confirm": [
        {
          "id": "trend",
          "on": true,
          "label": "趋势 · 站上200日均且均线向上",
          "detail": "现 29825.11 / 200日 26219.2 (+13.75%)"
        },
        {
          "id": "credit",
          "on": false,
          "warn": false,
          "label": "信用 · 信用中性",
          "detail": "HY OAS 2.7% · 分位 8% · 近变 -0.08"
        },
        {
          "id": "liquidity",
          "on": true,
          "warn": false,
          "label": "流动性 · 流动性扩张 / 实际利率平稳",
          "detail": "实际利率 2.31% (Δ60 0.39) · Fed资产 6.74T (季变 0.62%)"
        },
        {
          "id": "vixTerm",
          "on": false,
          "warn": false,
          "label": "VIX期限 · 升水（恐慌缓和）",
          "detail": "VIX 15.8 / VIX3M 19.04 · 价差 3.2"
        }
      ],
      "crashWarn": false,
      "rich": true,
      "foam": true,
      "nearHigh": true,
      "tooCalm": false
    },
    "filters": {
      "trend": {
        "sma200": 26219.2,
        "sma200Date": "2026-07-10",
        "above": true,
        "distPct": 13.75,
        "slope20": 2.27,
        "state": "bull",
        "label": "站上200日均且均线向上",
        "current": 29825.11
      },
      "credit": {
        "current": 2.7,
        "date": "2026-07-09",
        "percentile10y": 8,
        "change20": -0.08,
        "prev20": 2.78,
        "stress": false,
        "easing": false,
        "wideningFast": false,
        "label": "信用中性"
      },
      "realYield": {
        "current": 2.31,
        "date": "2026-07-09",
        "change60": 0.39,
        "prev60": 1.92,
        "risingFast": false,
        "falling": false,
        "label": "实际利率平稳"
      },
      "liquidity": {
        "current": 6735.6,
        "currentTn": 6.74,
        "date": "2026-07-08",
        "changePctQ": 0.62,
        "expanding": true,
        "shrinking": false,
        "label": "流动性扩张"
      },
      "vixTerm": {
        "vix3m": 19.04,
        "date": "2026-07-02",
        "spread": 3.2,
        "contango": true,
        "backwardation": false,
        "label": "升水（恐慌缓和）",
        "source": "yahoo"
      },
      "tqqqHealth": {
        "score": 65,
        "allow": "full",
        "allowLabel": "允许 TQQQ（受上限约束）",
        "choppy": false,
        "trending": true,
        "vol20": 28.94,
        "ret60": 15.41,
        "dynamicCap": 25,
        "reasons": [
          "趋势向上"
        ]
      }
    },
    "metrics": {
      "valuationPercentile": 91,
      "valuationMethod": "proxy-10y-sma",
      "valuationRatio": 2.302,
      "valuationSma": 12966.07,
      "ndx": 29825.11,
      "ndxHigh": 30660.6,
      "ndxHighDate": "2026-06-02",
      "drawdownPct": -2.72,
      "drop25Pct": -2.44,
      "ndx25Ago": 30571.24,
      "ndx25AgoDate": "2026-06-03",
      "vix": 15.84,
      "vixSmooth5": 16.06,
      "vixHigh1y": 31.05,
      "vixHigh1yDate": "2026-03-27",
      "vixLow1y": 13.47,
      "vixLow1yDate": "2025-12-24",
      "vixPanicThreshold": 40,
      "sma200": 26219.2,
      "sma200DistPct": 13.75
    },
    "quotes": {
      "QQQ": {
        "price": 725.51,
        "source": "yahoo",
        "error": null,
        "lastDate": "2026-07-10",
        "high52w": 746.1599731445312,
        "high52wDate": "2026-06-02",
        "low52w": 553.8800048828125,
        "low52wDate": "2025-08-01",
        "fromHighPct": -2.77,
        "fromLowPct": 30.99
      },
      "TQQQ": {
        "price": 77.03,
        "source": "yahoo",
        "error": null,
        "lastDate": "2026-07-10",
        "high52w": 87.22000122070312,
        "high52wDate": "2026-06-02",
        "low52w": 37.88999938964844,
        "low52wDate": "2026-03-30",
        "fromHighPct": -11.68,
        "fromLowPct": 103.3
      },
      "IQQ": {
        "price": 24.55,
        "source": "yahoo+qqq-history",
        "error": null,
        "lastDate": "2026-07-10",
        "high52w": 746.1599731445312,
        "high52wDate": "2026-06-02",
        "low52w": 553.8800048828125,
        "low52wDate": "2025-08-01",
        "fromHighPct": -2.77,
        "fromLowPct": 30.99
      }
    },
    "safety": {
      "maxTqqqPct": 25,
      "effectiveMaxTqqqPct": 25,
      "preferredCore": "IQQ",
      "qqqRole": "高流动性备选核心（与 IQQ 同指数）",
      "iqqRole": "优先核心定投（费用通常更低）",
      "tqqqRole": "卫星加速器 · 允许 TQQQ（受上限约束） · 动态上限 25%（基础 25%）",
      "notes": [
        "已叠加：200日趋势、HY信用、实际利率/Fed流动性、VIX期限、TQQQ健康度过滤。",
        "目标：假底少上杠杆、真底敢加、高位少追，以抬升风险调整后收益。",
        "不构成投资建议；杠杆 ETF 可能大幅回撤。"
      ]
    },
    "warnings": [
      "IQQ history short — signals use QQQ/NDX path; prefer IQQ for new core buys (lower fee)"
    ],
    "sources": {
      "vix": "FRED VIXCLS",
      "index": "FRED NASDAQ100",
      "credit": "FRED BAMLH0A0HYM2",
      "realYield": "FRED DFII10",
      "liquidity": "FRED WALCL",
      "vix3m": "yahoo",
      "quotes": {
        "QQQ": "yahoo",
        "TQQQ": "yahoo",
        "IQQ": "yahoo+qqq-history"
      }
    }
  },
  "meta": {
    "fetchedAt": "2026-07-11T12:32:03.266Z",
    "warningCount": 1
  }
}