{"schema_version":"1.0","name":"BRO Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-14","ticker":{"uuid":"0ba8532e-24c8-4434-9cc7-8eb6a9fdb012","symbol":"BRO","name":"Brown & Brown Inc","exchange":"NYSE","country":"US","asset_type":"equity","currency":"USD","sector":"Financial Services","industry":"Insurance Brokers"},"summary":"Market Dynamics eased this week but remains positive. The broader path has not changed enough to establish a new direction. 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record"}],"path":[{"week":0,"sample":0},{"week":1,"averageReturn":0.5,"sample":17},{"week":2,"averageReturn":0.1,"sample":17},{"week":3,"averageReturn":0.2,"sample":17},{"week":4,"averageReturn":0.8,"sample":17},{"week":5,"averageReturn":1.5,"sample":17},{"week":6,"averageReturn":1.4,"sample":17},{"week":7,"averageReturn":1.5,"sample":17},{"week":8,"averageReturn":1.4,"sample":17},{"week":9,"averageReturn":2.2,"sample":17},{"week":10,"averageReturn":2.5,"sample":17},{"week":11,"averageReturn":4.1,"sample":17},{"week":12,"averageReturn":3.3,"sample":17},{"week":13,"averageReturn":3.0,"sample":17},{"week":14,"averageReturn":3.4,"sample":17},{"week":15,"averageReturn":1.8,"sample":17},{"week":16,"averageReturn":3.1,"sample":17},{"week":17,"averageReturn":2.5,"sample":17},{"week":18,"averageReturn":3.8,"sample":17},{"week":19,"averageReturn":5.4,"sample":17},{"week":20,"averageReturn":5.1,"sample":17},{"week":21,"averageReturn":4.6,"sample":17},{"week":22,"averageReturn":4.7,"sample":17},{"week":23,"averageReturn":4.9,"sample":17},{"week":24,"averageReturn":4.1,"sample":17},{"week":25,"averageReturn":4.4,"sample":17},{"week":26,"averageReturn":4.8,"sample":17}]}},"pricePressureGap":{"label":"Price elevated relative to Market Dynamics","kind":"structuralDivergence","expectedDirection":"lower","episodes":1,"completedEpisodes":1,"activeEpisodes":0,"medianExpectedMove":6.7,"averageExpectedMove":6.7,"averageWeeksToLargestMove":9.0,"horizons":[{"weeks":4,"sample":1,"expectedCount":0,"expectedPercent":0.0,"averageReturn":3.7,"medianReturn":3.7,"confidenceLow":0.0,"confidenceHigh":79.3,"confidence":"Mixed historical record"},{"weeks":12,"sample":1,"expectedCount":1,"expectedPercent":100.0,"averageReturn":-6.4,"medianReturn":-6.4,"confidenceLow":20.7,"confidenceHigh":100.0,"confidence":"Mixed historical record"},{"weeks":26,"sample":1,"expectedCount":1,"expectedPercent":100.0,"averageReturn":-18.0,"medianReturn":-18.0,"confidenceLow":20.7,"confidenceHigh":100.0,"confidence":"Mixed historical record"}],"path":[{"week":0,"sample":0},{"week":1,"averageReturn":0.1,"sample":1},{"week":2,"averageReturn":-0.3,"sample":1},{"week":3,"averageReturn":-0.0,"sample":1},{"week":4,"averageReturn":3.7,"sample":1},{"week":5,"averageReturn":-3.0,"sample":1},{"week":6,"averageReturn":0.3,"sample":1},{"week":7,"averageReturn":-1.1,"sample":1},{"week":8,"averageReturn":-3.5,"sample":1},{"week":9,"averageReturn":-6.7,"sample":1},{"week":10,"averageReturn":-6.1,"sample":1},{"week":11,"averageReturn":-5.6,"sample":1},{"week":12,"averageReturn":-6.4,"sample":1},{"week":13,"averageReturn":-4.6,"sample":1},{"week":14,"averageReturn":-6.6,"sample":1},{"week":15,"averageReturn":-9.9,"sample":1},{"week":16,"averageReturn":-8.2,"sample":1},{"week":17,"averageReturn":-7.4,"sample":1},{"week":18,"averageReturn":-8.2,"sample":1},{"week":19,"averageReturn":-9.8,"sample":1},{"week":20,"averageReturn":-12.3,"sample":1},{"week":21,"averageReturn":-12.7,"sample":1},{"week":22,"averageReturn":-22.1,"sample":1},{"week":23,"averageReturn":-20.9,"sample":1},{"week":24,"averageReturn":-19.3,"sample":1},{"week":25,"averageReturn":-18.2,"sample":1},{"week":26,"averageReturn":-18.0,"sample":1}]},"currentApplication":{"status":"Positive support; price rotational","tone":"caution","headline":"Market Dynamics is positive while price remains rotational","use":"Treat the improvement as context until price establishes a clear response.","confirm":"The underlying condition is constructive, but a positive price response is still required.","invalidate":"Reassess the reading when either price structure or the Market Dynamics state changes materially.","level":"positive","direction":"weakening","zone":"middle","zoneContext":"Price is between the accumulation and distribution zones. The Market Dynamics bars describe whether the current move is gaining or losing underlying support.","historical":{"label":"Broad directional cases","weeks":12,"direction":"higher","percent":64.7,"averageReturn":3.3,"sample":17},"nowContext":{"label":"Easier this week","detail":"Market Dynamics eased this week but remains positive."},"fourWeekContext":{"label":"Broadly steady over four weeks","detail":"The broader path has not changed enough to establish a new direction."},"priceContext":{"label":"Price has no clear direction","detail":"Price remains rotational while the Market Dynamics condition develops."}},"strategyApproach":{"headline":"Strategy observations from this ticker's own record","summary":"The current reading identifies the setup. The observations below show how this ticker's completed history can guide positioning, confirmation and risk control without treating any one reading as a forecast.","observations":[{"eyebrow":"Early repair watch","title":"Prepare the case before price confirms the recovery","tone":"recovery","approach":"Use the improvement to move the ticker onto a watchlist or define an entry trigger. Commitment should rise only after price responds; fading Market Dynamics cancels the early case.","finding":"In this ticker's completed record, 64.7% of comparable cases moved higher after 12 weeks, with an average move of 3.3% across 17 cases.","watch":"Reassess the reading when either price structure or the Market Dynamics state changes materially."},{"eyebrow":"Zone positioning","title":"Use distribution to protect capital before considering the short case","tone":"negative","finding":"After distribution, 100.0% of completed 12-week outcomes were lower across 2 cases. Distinct visits lasted 3.5 weeks on average before leaving the zone.","approach":"Review long exposure and define the evidence that would confirm a rollover. Short exposure should begin only after price weakens and the loss limit is known.","watch":"A sustained repair in price and Market Dynamics invalidates the downside setup."},{"eyebrow":"Disagreement playbook","title":"Use improving Market Dynamics to prepare, not anticipate","tone":"recovery","finding":"Comparable disagreements produced an average recovery of 9.4% across 17 completed cases, with the largest move arriving after 7.2 weeks on average.","approach":"Define the price level that would confirm the repair. Until that response occurs, keep the idea at watchlist or starter-position size.","watch":"The early repair fails if Market Dynamics fades before price responds."}]},"summary":"This record compares the ticker's completed price path with its published Market Dynamics history."},"events":{"positioning_recoveries":[{"date":"2026-06-26","price":64.22}],"distribution_rollovers":[{"date":"2025-04-04","price":113.838701},{"date":"2025-04-25","price":113.274506}],"price_pressure_gaps":[{"date":"2025-02-28","price":117.33275}]}},"smTape":{"available":true,"dates":["2024-08-23","2024-08-30","2024-09-06","2024-09-13","2024-09-20","2024-09-27","2024-10-04","2024-10-11","2024-10-18","2024-10-25","2024-11-01","2024-11-08","2024-11-15","2024-11-22","2024-11-29","2024-12-06","2024-12-13","2024-12-20","2024-12-27","2025-01-03","2025-01-10","2025-01-17","2025-01-24","2025-01-31","2025-02-07","2025-02-14","2025-02-21","2025-02-28","2025-03-07","2025-03-14","2025-03-21","2025-03-28","2025-04-04","2025-04-11","2025-04-18","2025-04-25","2025-05-02","2025-05-09","2025-05-16","2025-05-23","2025-05-30","2025-06-06","2025-06-13","2025-06-20","2025-06-27","2025-07-04","2025-07-11","2025-07-18","2025-07-25","2025-08-01","2025-08-08","2025-08-15","2025-08-22","2025-08-29","2025-09-05","2025-09-12","2025-09-19","2025-09-26","2025-10-03","2025-10-10","2025-10-17","2025-10-24","2025-10-31","2025-11-07","2025-11-14","2025-11-21","2025-11-28","2025-12-05","2025-12-12","2025-12-19","2025-12-26","2026-01-02","2026-01-09","2026-01-16","2026-01-23","2026-01-30","2026-02-06","2026-02-13","2026-02-20","2026-02-27","2026-03-06","2026-03-13","2026-03-20","2026-03-27","2026-04-03","2026-04-10","2026-04-17","2026-04-24","2026-05-01","2026-05-08","2026-05-15","2026-05-22","2026-05-29","2026-06-05","2026-06-12","2026-06-19","2026-06-26","2026-07-03","2026-07-10","2026-07-17","2026-07-24","2026-07-31","2026-08-07","2026-08-14"],"close":[100.6833,103.7729,102.5982,101.7987,99.7061,101.3249,104.2862,103.3978,105.0166,102.6377,102.8253,111.1289,108.7764,110.7533,111.7911,107.9165,102.9842,101.7388,101.6993,100.4143,100.7702,104.3285,104.7733,103.4488,107.4742,109.4736,110.5723,117.3328,117.4416,116.9962,117.313,121.678,113.8387,117.6495,116.0262,113.2745,109.4439,110.1863,110.7815,109.8399,111.9015,109.5921,105.6771,107.6792,108.6109,107.7387,105.8059,102.9217,102.4657,91.4242,92.8218,94.6446,95.955,96.2429,94.0986,92.8577,91.0609,93.096,94.2575,95.2402,87.2688,87.3582,79.1584,78.1324,80.2812,79.9032,80.0126,77.9633,81.1964,79.7639,80.3608,77.2172,80.2215,79.5948,78.7691,71.7258,73.5607,68.2665,69.3832,71.6065,73.2815,68.0571,66.8507,63.2415,65.754,64.8866,67.5187,65.7041,57.4587,56.2822,56.28,57.82,56.25,58.86,59.99,59.1,64.22,70.0,67.5033,69.1893,67.5033,70.2369,71.2645,70.54],"consensus":[29.8382,68.4293,16.7037,17.8326,-18.0175,26.6295,59.4598,16.7161,45.4512,-12.5483,0.0,67.8346,9.0629,55.9889,45.1468,-23.3894,-48.7499,-36.3474,-24.7188,-36.2266,-18.8404,36.1848,16.4307,-12.3399,52.9939,47.9971,41.4926,77.0345,40.0021,31.5783,34.6088,68.026,-37.8421,46.5721,-11.0877,-27.0153,-40.0507,-13.2332,-8.7157,-25.6788,18.6886,-24.7893,-49.2783,0.0,0.0,-20.2882,-37.6867,-54.7462,-32.8885,-78.4553,-19.7496,-21.6643,-22.7754,0.0,-39.0626,-37.2494,-47.1533,0.0,0.0,10.6438,-66.7574,-36.0418,-80.0683,-38.8219,-15.0927,-36.3663,-19.9814,-45.5705,14.0302,-38.8576,0.0,-49.1475,14.1381,-11.9982,-16.2579,-69.4196,-13.423,-66.99,-23.8103,0.0,0.0,-53.6457,-42.712,-70.4221,0.0,-37.9994,9.8573,-29.3526,-74.2399,-53.2934,-30.7257,-22.2999,-45.0666,14.8194,9.9571,-15.5888,56.1508,66.8099,10.332,43.6771,12.4363,35.1023,32.1084,17.7908],"supportDates":["2025-08-22","2025-08-29","2025-09-05","2025-09-12","2025-09-19","2025-09-26","2025-10-03","2025-10-10","2025-10-17","2025-10-24","2025-10-31","2025-11-07","2025-11-14","2025-11-21","2025-11-28","2025-12-05","2025-12-12","2025-12-19","2025-12-26","2026-01-02","2026-01-09","2026-01-16","2026-01-23","2026-01-30","2026-02-06","2026-02-13","2026-02-20","2026-02-27","2026-03-06","2026-03-13","2026-03-20","2026-03-27","2026-04-03","2026-04-10","2026-04-17","2026-04-24","2026-05-01","2026-05-08","2026-05-15","2026-05-22","2026-05-29","2026-06-05","2026-06-12","2026-06-19","2026-06-26","2026-07-03","2026-07-10","2026-07-17","2026-07-24","2026-07-31","2026-08-07","2026-08-14"],"control":[-14.3165,0.0,-51.9401,-38.8075,-44.1285,0.0,0.0,9.0345,-68.8678,-35.3721,-81.8666,-27.6629,-2.3692,-30.6688,-23.7899,-56.4615,17.8103,-49.5159,0.0,-61.7784,18.4138,-12.8988,-13.8068,-68.9277,-6.3878,-63.6445,-17.3661,0.0,0.0,-64.2137,-47.8731,-72.3963,0.0,-41.945,9.9649,-45.2185,-74.4985,-57.7598,-22.5307,-16.9792,-56.1643,12.5773,3.725,-23.9182,49.1283,66.9077,4.9378,36.1491,5.0194,32.1338,25.8184,13.8925],"force":[-9.0123,0.0,-27.9596,-22.7984,-39.8065,0.0,0.0,29.4451,-83.4962,-11.5448,-96.7684,-17.1828,-28.3671,-13.5834,-5.9856,-36.0463,56.9147,-36.5329,0.0,-49.4291,52.5749,-5.6561,-9.0393,-93.6528,-24.3346,-84.8805,-9.7364,0.0,0.0,-65.247,-33.4319,-85.9357,0.0,-24.3183,40.8933,-28.7472,-96.9139,-37.6993,-4.4486,-11.5818,-33.6069,55.1155,30.573,-12.3769,86.9368,73.4849,25.37,35.0968,16.2755,35.8698,14.7607,6.3778],"direction":[-55.1481,0.0,-32.2762,-45.7908,-55.858,0.0,0.0,0.9466,-52.3892,-54.305,-66.0845,-67.0315,-60.6764,-59.1511,-34.1768,-39.9265,20.9219,-28.3371,0.0,-34.5111,18.2034,-15.4991,-24.2152,-52.6722,-48.433,-58.0345,-55.137,0.0,0.0,-33.2814,-43.4423,-57.0846,0.0,-43.2624,12.4342,-11.6526,-57.7488,-59.3275,-58.8607,-52.5819,-40.5689,11.4011,2.3538,-8.3637,42.1866,61.9301,53.2846,58.4093,41.4213,37.9466,51.6882,39.5094],"intensity":[28.8462,3.8462,32.6923,32.6923,26.9231,26.9231,13.4615,36.5385,94.2308,76.9231,94.2308,96.1538,34.6154,9.6154,7.6923,28.8462,55.7692,55.7692,13.4615,53.8462,51.9231,5.7692,17.3077,84.6154,73.0769,75.0,61.5385,38.4615,25.0,75.0,48.0769,63.4615,48.0769,17.3077,50.0,21.1538,94.2308,90.3846,36.5385,50.0,13.4615,50.0,46.1538,5.7692,78.8462,84.6154,73.0769,19.2308,23.0769,86.5385,48.0769,19.2308],"confirmation":[31.0375,27.8956,79.9654,79.4557,82.9113,8.6785,5.7549,49.5388,89.8403,78.797,94.1034,79.9336,9.7507,79.0297,52.1549,82.1263,32.869,80.2012,4.2539,83.5433,32.1805,48.9658,73.0199,90.9603,8.4432,90.033,31.4389,8.4548,29.3404,85.3592,81.3064,90.9778,9.633,79.6827,29.4179,77.1326,92.4439,84.5106,54.4896,31.3219,81.9029,31.1033,26.5762,72.7636,87.0135,89.5811,8.9165,81.8299,6.6897,79.3014,77.8418,51.7098],"persistence":[100.0,87.5,87.5,87.5,87.5,75.0,62.5,37.5,37.5,50.0,50.0,50.0,50.0,62.5,75.0,100.0,75.0,75.0,62.5,62.5,37.5,37.5,37.5,37.5,62.5,62.5,75.0,62.5,75.0,75.0,75.0,75.0,62.5,62.5,37.5,50.0,62.5,62.5,62.5,62.5,75.0,50.0,50.0,50.0,25.0,0.0,25.0,50.0,75.0,75.0,75.0,100.0],"assessmentRisk":[36.3108,47.9919,37.5789,6.1665,22.0435,35.1398,1.2327,25.3367,4.5461,27.2156,9.955,30.5865,41.0965,30.8856,23.0741,20.1342,6.1195,17.3796,7.1382,13.4811,20.8128,3.0259,17.3289,13.8356,42.6029,16.4677,37.9339,4.2892,8.495,23.4706,12.1951,14.2955,45.8364,19.8096,5.2816,46.7767,12.1074,22.8035,34.5632,38.1939,3.4801,26.7311,37.8577,28.5799,21.3244,16.4464,43.4974,27.8733,30.8331,12.8359,29.6375,16.0948],"volumeParticipation":true,"latest":{"consensus":17.8,"control":13.9,"force":6.4,"direction":39.5,"confirmation":51.7,"persistence":100.0,"assessmentRisk":16.1,"intensity":19.2,"evidenceDepth":100},"analysis":{"status":"Market Dynamics has stronger support","headline":"The gauges support the upward view","summary":"The completed evidence gives the upward view the clearer support.","take":"Current assessment: upward pressure has the stronger support.","tone":"positive","supportedView":"Market Dynamics","direction":"upward","disagreement":false},"support":{"window":"Latest 12 months","controlState":"Buyer control supports the view","controlPath":"Control support is easing","forceState":"Commitment is limited","forcePath":"Commitment is easing","directionState":"Upward follow-through","persistenceState":"Established","confirmationState":"Qualified support","riskState":"Contained","intensityState":"Quiet"},"cards":[{"label":"SM Consensus Gauge","value":"+17.8","detail":"Market Dynamics has stronger support","tone":"positive"},{"label":"SM Control Gauge","value":"+13.9","detail":"Buyer control supports the view","tone":"positive"},{"label":"SM Force Gauge","value":"+6.4","detail":"Commitment is limited","tone":"positive"},{"label":"SM Direction Gauge","value":"+39.5","detail":"Upward follow-through","tone":"positive"},{"label":"SM Confirmation Gauge","value":"52/100","detail":"Qualified support","tone":"neutral"}]},"kpis":[{"label":"Price structure","value":"Rotational","detail":"completed-week alignment","tone":"caution"},{"label":"Momentum","value":"54.0","detail":"Positive","tone":"positive"},{"label":"Risk pressure","value":"6.3%","detail":"Elevated","tone":"caution"},{"label":"Trend quality","value":"34.0","detail":"Directional","tone":"positive"},{"label":"Range position","value":"77%","detail":"location inside observed range","tone":"neutral"},{"label":"Adaptive set","value":"6 views","detail":"selected for the current tape","tone":"neutral"}],"charts":[{"key":"price","eyebrow":"Price architecture","title":"Trend, acceptance and volatility envelope","description":"Price is shown against fast and slow trend references with its current volatility envelope.","reason":"Selected as the anchor because price is rotating through its trend 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