equitysearch/openspec/changes/stock-deep-evaluation/tasks.md

1. Project scaffold

• 1.1 Initialize Next.js (App Router) + TypeScript project at the repo root
• 1.2 Add Tailwind CSS and a base layout/theme (light + dark)
• 1.3 Add a charting library (Recharts or lightweight-charts) and confirm it renders
• 1.4 Set up .env.local handling and .env.example for MARKET_DATA_API_KEY and ANTHROPIC_API_KEY; ensure secrets never reach the client bundle
• 1.5 Configure lint/format/test tooling (ESLint, Prettier, Vitest/Jest) and a passing sample test
• 1.6 Define shared TypeScript types module (normalized data models + Evaluation object skeleton with unavailable markers) with an instrumentType discriminant (equity | etf); fundamentals/valuation sections under a per-type branch, instrument-agnostic sections shared

2. Market-data layer (market-data spec)

• 2.1 Define the DataProvider interface and normalized models (CompanyProfile, Fundamentals incl. optional segments, PriceHistory, AnalystCoverage, Estimates), each with asOf + delayed|realtime
• 2.2 Spike two free providers (e.g. FMP, Finnhub) against DE; pick the default based on segment + forward-estimate coverage; record the choice in design Open Questions
• 2.3 Implement the default free-tier provider behind the interface
• 2.4 Implement ticker resolution with NYSE/Nasdaq validation, an instrumentType (equity/etf) classification, and a typed not-found result
• 2.5 Implement a fixture/mock provider seeded from the DE example for tests and offline dev
• 2.6 Add provider-boundary caching (in-memory, TTL, keyed by ticker+dataset) and retry/backoff for rate-limit/transient errors returning typed errors
• 2.7 Unit-test normalization, unavailable-field handling, and error/rate-limit paths

3. Technicals module (market-data spec)

• 3.1 Implement pure functions: 20/50/200-day moving averages, 52-week high/low distance, average volume + today's volume multiple
• 3.2 Implement swing high/low detection and realized (e.g. 60-day annualized) volatility
• 3.3 Handle insufficient-history cases (mark long-window indicators unavailable)
• 3.4 Unit-test all indicators against known values from the DE example

4. Evaluation engine (equity-evaluation spec)

• 4.1 Implement current-standing summary (price, day change abs/%, volume multiple, 52-wk distance, market cap, trailing P/E)
• 4.2 Implement earnings recap (EPS vs consensus, beat/miss, net income YoY, guidance changes) gated by a configurable recency window
• 4.3 Implement quality-of-earnings caveats (one-time items + EPS impact, price-vs-volume, wrong-baseline headline metrics)
• 4.4 Implement financial summary (current vs prior-year) and per-segment breakdown when available
• 4.5 Implement valuation view (TTM EPS, trailing/forward P/E, growth, FCF & dividend yield, vs own history) with conflicting-estimate reconciliation
• 4.6 Implement explicit over/undervalued reasoning (multiple-expansion vs earnings-growth, trough/peak earnings)
• 4.7 Implement macro/sector factor analysis (tariffs trajectory, rates, input-cost pressure, peer read-throughs)
• 4.8 Implement timing/volatility context (post-earnings behavior, implied vs actual move, monthly ranges, gap-fill status)
• 4.9 Implement entry levels (ranked levels with meaning, % below price, implied multiple at each) grouped into bands with starter/high-conviction tranches
• 4.10 Implement exit/targets (analyst avg/median/range + technical resistance) and stop-loss levels (technical/volatility-based, concrete prices + rationale)
• 4.11 Implement bull-vs-bear synthesis and actionable plan (tranche sizing, next dated catalyst, conditional rules, one metric to watch)
• 4.12 Emit the typed Evaluation object with explicit unavailable markers (no fabrication) + mandatory disclaimer; carry instrumentType, populate the equity branch, and return an unsupported-type result for non-equity instruments (no equity-branch fabrication)
• 4.13 Unit-test each section, including missing-input and unavailable-value paths, seeded from the DE example

5. Analysis agent (analysis-agent spec)

• 5.1 Define the AnalysisAgent interface (input: Evaluation + options incl. deep-dive flag; output: narrative sections + sources + reported usage/cost) with a config-selected transport
• 5.2 Implement the default Claude Code CLI transport: spawn claude -p --output-format json --model <opus|fable> --json-schema <narrative schema> --append-system-prompt <instructions> --allowedTools "WebSearch WebFetch" --permission-mode dontAsk; parse the JSON result (structured output + total_cost_usd + usage)
• 5.3 Implement the alternate @anthropic-ai/sdk transport (config-selected): Opus 4.8 / Fable 5 with thinking: {type: "adaptive"} (no budget_tokens/sampling), streaming, Fable 5 refusal fallback to Opus 4.8, server-side web tools
• 5.4 Per-request model selection (opus default, fable for deep-dive) wired through both transports; ground with web search/fetch scoped to the ticker and capture source attributions
• 5.5 Design the prompt + structured schema so narrative maps to spec sections and cites only supplied figures or attributed web sources
• 5.6 Preserve input caveats/discrepancies and enforce the disclaimer in the narrative
• 5.7 Implement graceful degradation: CLI missing/unauthenticated and no API key → structured evaluation with narrative unavailable + how-to-enable; web grounding error → analysis from structured data, note grounding unavailable
• 5.8 Implement typed agent error handling (spawn failure/non-zero exit/timeout for CLI; auth/rate-limit/timeout for API) that retains the computed evaluation
• 5.9 Test model selection, transport selection (CLI vs API), grounding attribution, agent-unavailable, grounding-error, and refusal-fallback paths with a mock/stubbed transport

6. Pipeline + API (evaluation-app spec)

• 6.1 Implement server-side route/action orchestrating resolve → data → evaluate → agent, returning { evaluation, narrative | error }
• 6.2 Handle partial results (data ok / agent unavailable) and typed errors end-to-end
• 6.3 Ensure secret keys are used only server-side and surface missing-key state per capability

7. Web UI (evaluation-app spec)

• 7.1 Build the ticker search entry point with inline invalid/not-found handling and a clear "ETF evaluation not yet supported" message when an etf is resolved
• 7.2 Build the report view rendering every section in order, tables as tables, unavailable values shown honestly
• 7.3 Build the price chart with moving averages and overlay markers for entry bands, exit/targets, and stop-loss levels
• 7.4 Implement loading state and readable error states (no blank screens)
• 7.5 Surface missing-key indicators and a settings/config affordance for keys
• 7.6 Add a "deep dive" toggle on the search/report view that requests the Fable 5 model, and render web-source attributions in the report

8. Cost controls (cost-controls spec)

• 8.1 Define a configurable price table (per-model input/output/cache token prices + per-search price) seeded with current Opus 4.8 and Fable 5 rates
• 8.2 Capture per-report usage from the agent API response (tokens, cache tokens, web-search count, model) including on partial/error results
• 8.3 Compute per-report cost from usage + price table; flag unpriced models rather than recording zero
• 8.4 Implement lightweight spend storage: per-report history + month-to-date total with month-boundary reset (no database)
• 8.5 Implement the monthly budget guard: soft-threshold warning, hard-cap block, deep-dive pre-emption, and disabled-when-zero; check before dispatching the agent
• 8.6 Surface per-report cost in the report view and month-to-date spend vs budget in the app
• 8.7 Unit-test cost computation, month reset, soft/hard thresholds, deep-dive pre-emption, and the disabled-guard path

9. Verification

• 9.1 End-to-end run on DE (with keys) producing a report structurally matching the example; note any data gaps from the free tier
• 9.2 End-to-end run with no agent key confirming structured evaluation still renders
• 9.3 Verify cost is captured and displayed, and that the budget guard warns and blocks at its thresholds
• 9.4 Run the full test suite and lint; confirm green
• 9.5 Update README with setup, env vars, provider choice, and run instructions
• 9.6 Run openspec validate stock-deep-evaluation and archive the change when complete