{
  "scan_date": "2026-06-12",
  "macro_notes": "Canadian bank stocks (CM, BNS, TD) are all on the TSX positive breakouts list following strong Q2 2026 earnings (BNS net income +39% YoY; CIBC beat estimates), but RSI readings are universally elevated at 62-68 — well outside the 35-55 pullback zone required for a clean swing entry. CIBC is trading at a decade-high P/E of 11.7x vs. its 10-year avg of 9.4x. Gold stocks make up ~20% of the TSX positive breakouts list. Energy sector is extended: CNQ up ~15% over the trailing month with analyst avg target $70.65. The TSX broadly is in a momentum-led rally with limited setups meeting the RSI pullback criteria. No new buys qualify today.",
  "signals": {
    "new_buys": [],
    "holds": [],
    "exits": [
      {
        "ticker": "CNQ.TO",
        "exit_reason": "Time stop — 8 trading days held since entry 2026-06-03 (June 3, 4, 5, 6, 9, 10, 11, 12), well past the 3-day time stop rule. No T1, T2, or stop-loss targets were ever set in positions.json, making it impossible to measure progress toward T1. With no framework to assess the trade, the time stop is definitive. Earnings are safe (Aug 6, 2026). Analyst avg target $70.65 vs. entry $66.43 — review exit price manually.",
        "action": "EXIT full position"
      }
    ],
    "watchlist": [
      {
        "ticker": "TD.TO",
        "waiting_for": "Pullback to RSI 35-55 zone (currently 62.51 — too extended for entry). MACD already positive at 2.35. Price $107.09 well above 200d SMA $89.32. Next earnings Aug 27, 2026 — safe. Watch for a consolidation or mild retracement to the 20d or 50d EMA before initiating. Score would reach 3-4 on a confirmed pullback with declining volume."
      }
    ]
  },
  "excluded": [
    {
      "ticker": "CM.TO",
      "reason": "RSI 67.81 — exceeds Step 3 hard cutoff of 65. MACD positive (2.37) and earnings safe (Aug 27, 2026), but RSI disqualifies. Also flagged: trading at decade-high P/E (11.7x vs. 10-yr avg 9.4x)."
    },
    {
      "ticker": "BNS.TO",
      "reason": "RSI 68.28 — exceeds Step 3 hard cutoff of 65. MACD positive (turned positive June 2, 2026; histogram 1.37). Price $94.66 above 200d SMA $80.61. Earnings safe (Aug 25, 2026). Disqualified solely on RSI."
    },
    {
      "ticker": "TD.TO",
      "reason": "Passes Step 3 (RSI 62.51, above 200d SMA, earnings safe) but scores only 2/5 in Step 4 — RSI not in 35-55 zone, pullback to EMA unconfirmed, volume data unavailable. Below the 3-point minimum for new buys. Moved to watchlist."
    }
  ]
}