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DAX currently reads mixed, with regime and model leadership broadly aligned.

XAUUSD currently reads constructive bearish, with regime and model leadership broadly aligned. Main risk: The edge looks narrow and parameter-sensitive.

EURUSD currently reads fragile bearish, with regime and model leadership broadly aligned.

USDJPY currently reads constructive bullish, with regime and model leadership broadly aligned. Main risk: The edge looks narrow and parameter-sensitive.

SP500 currently reads fragile bearish, with regime and model leadership broadly aligned. Main risk: Market structure looks unstable.