{"schema_version":"1.0","name":"ICRC Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-07-31","ticker":{"uuid":"0f1bfc38-544a-447b-8629-c05576530ee2","symbol":"ICRC","name":"BITWISE CRCL OPTION INCOME STRATEGY ETF","exchange":"NYSEARCA","country":"US","asset_type":"etf","currency":"USD","sector":null,"industry":null},"summary":"Market Dynamics improved this week but remains below zero. The broader path has not changed enough to establish a new direction. Price structure remains downward.","sections":[{"name":"Executive technical read","description":"Completed-week price state, Market Dynamics alignment, current price and the principal technical KPIs."},{"name":"Market Dynamics","description":"The proprietary relationship between completed price, underlying support, positioning zones and confirmation."},{"name":"Ticker evidence record","description":"Current application, comparable historical conditions, zone outcomes and practical review conditions."},{"name":"Adaptive technical evidence","description":"Six condition-selected views: Trend, acceptance and volatility envelope, Activity pressure and cumulative balance, Drawdown and recovery pressure, Range position and boundary pressure, Directional strength and control, Acceleration, deceleration and rollover."},{"name":"SM Tape Intelligence","description":"Resolved consensus with Control, Force, Direction and Confirmation gauges against completed price."},{"name":"Research boundary","description":"Dated scope, interpretation limits, methodology version and source references."}],"research":{"available":true,"asOf":"2026-07-31","observations":44,"displayedObservations":44,"assetType":"ETF","state":"Aligned downward","stateTone":"negative","summary":"Market Dynamics improved this week but remains below zero. The broader path has not changed enough to establish a new direction. Price structure remains downward.","evidenceAlignment":{"status":"Countertrend conflict","headline":"Improving Market Dynamics is challenging the downward price structure","summary":"Market Dynamics improved this week but remains below zero. The broader path has not changed enough to establish a new direction. Price structure remains downward.","take":"This is an early challenge rather than a confirmed reversal. Price must respond to the improvement before the downward technical state can be considered resolved.","tone":"caution","conflict":true},"marketDynamics":{"available":true,"readAvailable":true,"dates":["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"],"values":[0.234683,0.306281,0.357471,0.465541,0.477937,0.53175,0.516183,0.249993,-0.050292,-0.417091,-0.803175,-0.943787,-0.966549,-0.996332,-1.004242,-0.910549],"opens":[23.478315,25.740887,24.664538,27.601495,27.402914,26.512559,26.413162,26.589905,21.139858,21.749128,21.040391,20.55,17.91,17.7145,17.44,17.391],"highs":[26.048512,25.740887,25.43473,28.057157,30.026394,28.229681,27.52713,26.589905,21.416656,21.749128,21.040391,20.55,19.0478,18.3587,17.4553,17.51],"lows":[23.478315,24.240006,23.560761,26.703958,27.402914,26.512559,24.979585,20.7361,20.573595,20.619941,18.968578,17.5906,17.56,17.1258,17.31,17.29],"closes":[25.985941,24.989983,25.43473,26.822302,27.511683,27.756797,27.52713,20.7361,20.573595,21.208689,19.9928,18.1182,18.4183,17.1258,17.395,17.42],"hoverRows":[[{"label":"Open","value":"23.5","className":"is-ohlc","compact":true},{"label":"High","value":"26.0","className":"is-ohlc","compact":true},{"label":"Low","value":"23.5","className":"is-ohlc","compact":true},{"label":"Close","value":"26.0","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.23","note":"Supportive and strengthening","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"25.7","className":"is-ohlc","compact":true},{"label":"High","value":"25.7","className":"is-ohlc","compact":true},{"label":"Low","value":"24.2","className":"is-ohlc","compact":true},{"label":"Close","value":"25.0","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.31","note":"Supportive and strengthening","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"24.7","className":"is-ohlc","compact":true},{"label":"High","value":"25.4","className":"is-ohlc","compact":true},{"label":"Low","value":"23.6","className":"is-ohlc","compact":true},{"label":"Close","value":"25.4","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.36","note":"Supportive and strengthening","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"27.6","className":"is-ohlc","compact":true},{"label":"High","value":"28.1","className":"is-ohlc","compact":true},{"label":"Low","value":"26.7","className":"is-ohlc","compact":true},{"label":"Close","value":"26.8","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.47","note":"Supportive and strengthening","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"27.4","className":"is-ohlc","compact":true},{"label":"High","value":"30.0","className":"is-ohlc","compact":true},{"label":"Low","value":"27.4","className":"is-ohlc","compact":true},{"label":"Close","value":"27.5","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.48","note":"Supportive and strengthening","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"26.5","className":"is-ohlc","compact":true},{"label":"High","value":"28.2","className":"is-ohlc","compact":true},{"label":"Low","value":"26.5","className":"is-ohlc","compact":true},{"label":"Close","value":"27.8","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.53","note":"Supportive and strengthening","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"26.4","className":"is-ohlc","compact":true},{"label":"High","value":"27.5","className":"is-ohlc","compact":true},{"label":"Low","value":"25.0","className":"is-ohlc","compact":true},{"label":"Close","value":"27.5","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.52","note":"Supportive but easing","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"26.6","className":"is-ohlc","compact":true},{"label":"High","value":"26.6","className":"is-ohlc","compact":true},{"label":"Low","value":"20.7","className":"is-ohlc","compact":true},{"label":"Close","value":"20.7","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.25","note":"Supportive but easing","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"21.1","className":"is-ohlc","compact":true},{"label":"High","value":"21.4","className":"is-ohlc","compact":true},{"label":"Low","value":"20.6","className":"is-ohlc","compact":true},{"label":"Close","value":"20.6","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.05","note":"Cautious and weakening","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"21.7","className":"is-ohlc","compact":true},{"label":"High","value":"21.7","className":"is-ohlc","compact":true},{"label":"Low","value":"20.6","className":"is-ohlc","compact":true},{"label":"Close","value":"21.2","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.42","note":"Cautious and weakening","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"21.0","className":"is-ohlc","compact":true},{"label":"High","value":"21.0","className":"is-ohlc","compact":true},{"label":"Low","value":"19.0","className":"is-ohlc","compact":true},{"label":"Close","value":"20.0","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.80","note":"Cautious and weakening","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"20.6","className":"is-ohlc","compact":true},{"label":"High","value":"20.6","className":"is-ohlc","compact":true},{"label":"Low","value":"17.6","className":"is-ohlc","compact":true},{"label":"Close","value":"18.1","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.94","note":"Cautious and weakening","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"17.9","className":"is-ohlc","compact":true},{"label":"High","value":"19.0","className":"is-ohlc","compact":true},{"label":"Low","value":"17.6","className":"is-ohlc","compact":true},{"label":"Close","value":"18.4","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.97","note":"Cautious and weakening","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"17.7","className":"is-ohlc","compact":true},{"label":"High","value":"18.4","className":"is-ohlc","compact":true},{"label":"Low","value":"17.1","className":"is-ohlc","compact":true},{"label":"Close","value":"17.1","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-1.00","note":"Cautious and weakening","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"17.4","className":"is-ohlc","compact":true},{"label":"High","value":"17.5","className":"is-ohlc","compact":true},{"label":"Low","value":"17.3","className":"is-ohlc","compact":true},{"label":"Close","value":"17.4","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-1.00","note":"Cautious and weakening","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"17.4","className":"is-ohlc","compact":true},{"label":"High","value":"17.5","className":"is-ohlc","compact":true},{"label":"Low","value":"17.3","className":"is-ohlc","compact":true},{"label":"Close","value":"17.4","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.91","note":"Cautious but repairing","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}]],"pressureRange":[-2.3,2.3],"priceRange":[16.48794,28.394657],"zones":{"accumulationBoundary":-1.5,"accumulationDarkBoundary":-2.0,"distributionBoundary":1.5,"distributionDarkBoundary":2.0},"latest":-0.910549,"state":"Negative and broadly steady","context":{"scenario":"negativeSteady","latestDirection":"strengthening","fourWeekDirection":"steady","now":{"label":"Stronger this week","detail":"Market Dynamics improved this week but remains below zero."},"fourWeek":{"label":"Broadly steady over four weeks","detail":"The broader path has not changed enough to establish a new direction."},"price":{"label":"Price and Market Dynamics are broadly aligned","detail":"The current price response is broadly consistent with the underlying Market Dynamics path."}},"diagnosis":{"label":"Accumulation repair watch","detail":"Price is within accumulation conditions while Market Dynamics is improving. A green marker is required before the recovery is treated as confirmed.","tone":"caution"},"chartSummary":"Price is in the accumulation zone. The Market Dynamics bars show whether underlying conditions are repairing or continuing to weaken.","summary":"Price is within accumulation conditions while Market Dynamics is improving. A green marker is required before the recovery is treated as confirmed.","annotations":[{"label":"Current tape relationship","value":"Accumulation repair watch","detail":"Market Dynamics improved this week but remains below zero.","tone":"caution"},{"label":"Price location","value":"Accumulation zone","detail":"Price is being tested for a confirmed recovery through the lower zone.","tone":"caution"},{"label":"Latest positioning marker","value":"None in view","detail":"Entering the lower zone alone does not create a positioning confirmation.","tone":"neutral"},{"label":"Market Dynamics confirmation","value":"Supported","detail":"The broader path has not changed enough to establish a new direction.","tone":"positive"}],"relationshipEvidence":{"available":false,"observations":16,"summary":"More completed weekly history is needed for a dependable ticker-level record."},"events":{"positioning_recoveries":[],"reversal_warnings":[],"reversal_dangers":[]}},"smTape":{"available":true,"dates":["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"],"close":[38.5962,36.6979,35.4753,39.0225,35.7573,30.2348,24.5443,21.6273,23.7597,25.3064,25.2451,26.0097,25.1846,25.8604,25.8069,24.9945,22.8341,21.062,19.6085,20.565,21.7094,23.3293,26.5,28.3209,30.0714,24.3601,23.903,23.579,25.9859,24.99,25.4347,26.8223,27.5117,27.7568,27.5271,20.7361,20.5736,21.2087,19.9928,18.1182,18.4183,17.1258,17.395,17.42],"consensus":[15.4694,-100.0,-100.0,58.0,-49.4123,-64.233,-75.4886,-60.5662,-14.908,-10.4502,-29.711,0.0,-36.7432,0.0,-18.9066,-37.4344,-60.4867,-66.5711,-49.974,-12.7675,0.0,28.6109,56.7463,48.4044,52.9851,-38.9851,-19.098,-24.8574,27.9261,0.0,23.9521,19.0554,17.3435,32.9844,27.9295,-62.0981,-47.0715,-27.7225,-43.7203,-55.7373,-25.7001,-57.0663,-29.8687,-25.163],"supportDates":["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"],"control":[null,null,null,null,null,-67.959,-85.0993,-57.6866,-5.1037,-1.6499,-39.0609,0.0,-47.2313,0.0,-24.511,-34.8507,-63.3262,-67.9557,-38.3817,-1.841,0.0,18.724,48.362,39.6556,46.44,-46.6538,-16.2,-23.4548,41.5448,0.0,22.5658,7.6715,8.9291,31.4273,26.2427,-66.8359,-54.7132,-22.737,-42.2682,-64.4774,-21.7849,-65.6715,-24.4045,-24.8722],"force":[15.4694,-100.0,-100.0,58.0,-39.4796,-48.1997,-54.172,-36.1712,-39.0984,-49.1951,-4.7876,0.0,-33.7699,0.0,-3.5135,-36.8647,-78.1838,-81.434,-57.9158,-25.0181,0.0,75.4514,85.4047,50.6258,48.9194,-84.4589,-19.8833,-22.0129,48.3964,0.0,33.1735,9.3314,4.1575,22.4706,20.3686,-70.5492,-26.9774,-4.8706,-31.1197,-43.349,-3.8965,-39.7869,-3.1702,-0.3098],"direction":[null,null,null,null,-56.5071,-71.427,-79.7309,-81.2822,-76.3544,-66.8826,-36.8277,0.0,-26.8807,0.0,-23.4967,-40.7942,-44.6006,-54.3724,-57.5496,-52.2445,0.0,6.4526,45.8579,56.8163,63.3695,-2.2603,-21.8491,-28.4922,2.2597,0.0,18.9499,39.0112,36.3786,42.2737,35.2579,-50.647,-52.6909,-49.7429,-54.3801,-54.5975,-51.3151,-59.5742,-55.1838,-43.69],"intensity":[null,null,null,null,75.0,100.0,100.0,100.0,25.0,11.1111,30.0,9.0909,8.3333,7.6923,7.1429,20.0,62.5,35.2941,77.7778,31.5789,20.0,47.619,77.2727,86.9565,54.1667,96.0,84.6154,3.7037,60.7143,17.2414,13.3333,67.7419,46.875,36.3636,23.5294,97.1429,83.3333,8.1081,26.3158,46.1538,22.5,19.5122,16.6667,2.3256],"confirmation":[27.6169,54.6667,54.6667,41.2267,60.6912,88.0091,91.3602,86.6816,12.8594,12.5576,53.9388,5.7163,79.5074,6.364,50.8289,80.001,87.8518,89.7346,84.4104,8.4377,7.6681,56.067,87.16,83.6904,84.9311,59.5598,74.1795,75.8891,55.1681,26.622,75.9668,51.3082,50.6096,78.2583,76.7327,88.0568,82.334,53.5841,81.6286,85.3252,53.5463,85.6035,54.1609,60.6797],"persistence":[null,null,33.3333,0.0,20.0,33.3333,42.8571,50.0,75.0,75.0,75.0,87.5,87.5,75.0,75.0,75.0,75.0,75.0,75.0,87.5,75.0,62.5,37.5,12.5,12.5,12.5,12.5,12.5,25.0,12.5,12.5,12.5,12.5,37.5,62.5,62.5,37.5,25.0,0.0,25.0,50.0,75.0,100.0,100.0],"assessmentRisk":[null,null,null,null,15.4356,16.5652,12.1658,19.7163,42.5028,40.7417,26.3992,42.2372,41.9454,11.0726,19.6626,0.8196,7.2548,15.0523,24.8167,43.3916,34.1506,33.2798,21.6197,25.7943,23.5052,41.0521,31.6136,36.1795,61.1019,16.6497,18.3148,35.9148,22.0608,26.6318,24.0063,17.9222,25.9979,35.5819,28.0679,14.3091,25.4594,19.8748,28.1945,4.3566],"volumeParticipation":true,"latest":{"consensus":-25.2,"control":-24.9,"force":-0.3,"direction":-43.7,"confirmation":60.7,"persistence":100.0,"assessmentRisk":4.4,"intensity":2.3,"evidenceDepth":100},"analysis":{"status":"Joint downward confirmation","headline":"The gauges support the downward market view","summary":"Price structure and Market Dynamics agree. Control, force and direction support the same downward assessment.","take":"Current assessment: downward pressure has broad support.","tone":"negative","supportedView":"Price structure and Market Dynamics","direction":"downward","disagreement":false},"support":{"window":"Latest 12 months","controlState":"Seller control supports the view","controlPath":"Control support is easing","forceState":"Commitment is limited","forcePath":"Commitment is easing","directionState":"Downward follow-through","persistenceState":"Established","confirmationState":"Qualified support","riskState":"Contained","intensityState":"Quiet"},"cards":[{"label":"SM Consensus Gauge","value":"-25.2","detail":"Joint downward confirmation","tone":"negative"},{"label":"SM Control Gauge","value":"-24.9","detail":"Seller control supports the view","tone":"negative"},{"label":"SM Force Gauge","value":"-0.3","detail":"Commitment is limited","tone":"negative"},{"label":"SM Direction Gauge","value":"-43.7","detail":"Downward follow-through","tone":"negative"},{"label":"SM Confirmation Gauge","value":"61/100","detail":"Qualified support","tone":"neutral"}]},"kpis":[{"label":"Price structure","value":"Aligned downward","detail":"completed-week alignment","tone":"negative"},{"label":"Momentum","value":"30.9","detail":"Negative","tone":"negative"},{"label":"Risk pressure","value":"12.8%","detail":"Normal","tone":"neutral"},{"label":"Trend quality","value":"26.8","detail":"Directional","tone":"positive"},{"label":"Range position","value":"2%","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 and its trend references are aligned downward.","series":[{"label":"Close","values":[38.5962,36.6979,35.4753,39.0225,35.7573,30.2348,24.5443,21.6273,23.7597,25.3064,25.2451,26.0097,25.1846,25.8604,25.8069,24.9945,22.8341,21.062,19.6085,20.565,21.7094,23.3293,26.5,28.3209,30.0714,24.3601,23.903,23.579,25.9859,24.99,25.4347,26.8223,27.5117,27.7568,27.5271,20.7361,20.5736,21.2087,19.9928,18.1182,18.4183,17.1258,17.395,17.42],"stroke":"#10243b","width":2.1},{"label":"Fast trend","values":[null,null,null,null,37.5745,36.24,34.1135,31.8433,30.3736,29.4523,28.6873,28.2005,27.6521,27.3264,27.0501,26.6764,25.9778,25.084,24.0884,23.4478,23.1317,23.1677,23.7736,24.6003,25.5951,25.3705,25.1037,24.8265,25.0373,25.0287,25.1025,25.4152,25.7964,26.1528,26.4027,25.3724,24.4999,23.9015,23.1908,22.2685,21.5685,20.7607,20.1488,19.6526],"stroke":"#176fa3","width":1.7},{"label":"Slow trend","values":[null,null,null,null,null,null,null,null,null,null,null,null,32.1643,31.6974,31.261,30.7968,30.207,29.5296,28.7947,28.1851,27.7054,27.3813,27.316,27.3904,27.589,27.3498,27.0945,26.8341,26.7713,26.6393,26.5501,26.5703,26.64,26.7227,26.7823,26.3344,25.9077,25.5596,25.1473,24.6266,24.1667,23.6452,23.1822,22.7554],"stroke":"#07865c","width":1.8},{"label":"Upper envelope","values":[null,null,null,null,null,null,null,null,null,43.9401,43.265,42.6031,42.0258,41.4734,40.9684,40.5176,40.1826,39.962,39.8258,39.5728,37.8152,36.2087,34.789,32.0478,30.3194,29.4112,29.3815,29.3429,29.4916,29.4676,29.4834,29.5854,29.8603,30.1061,30.3108,30.3821,30.4904,30.4811,30.4389,30.7289,30.9958,31.3647,31.3323,30.8836],"stroke":"#98a9b8","width":1.0,"dash":[6,5]},{"label":"Lower envelope","values":[null,null,null,null,null,null,null,null,null,18.2642,17.8744,17.7763,17.5836,17.5725,17.5821,17.4977,17.1065,16.4846,15.7139,15.2465,15.3153,15.585,16.1072,17.7782,18.938,19.2588,19.2243,19.4581,19.5321,19.5244,19.5275,19.5068,19.4646,19.4085,19.3757,18.8787,18.5443,18.5683,18.6489,18.1142,17.5182,16.529,15.6508,15.0094],"stroke":"#98a9b8","width":1.0,"dash":[6,5]}],"guides":[],"dates":["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"]},{"key":"participation","eyebrow":"Participation","title":"Activity pressure and cumulative balance","description":"Observed activity is compared with its normal backdrop while cumulative balance tracks directional participation.","reason":"Selected because participation is confirming or diverging from the latest price path.","series":[{"label":"Activity versus norm","values":[null,null,null,null,null,null,null,16.0326,89.1875,174.9285,75.2881,90.9499,247.5083,143.0159,55.2822,265.9899,253.945,184.0116,314.3192,84.2779,136.158,244.5146,260.7478,114.1913,110.9826,208.8453,150.0223,55.9454,87.569,64.0847,151.1578,17.6637,40.3648,37.9606,46.9318,38.0608,54.1386,27.9191,31.1832,15.9483,75.077,23.2877,20.0949,270.9752],"stroke":"#1678a7","width":1.8},{"label":"Cumulative balance","values":[null,null,null,null,null,null,null,65.0,70.32,81.7019,76.9213,82.6492,65.0,75.5835,71.6191,65.0,65.0,65.0,65.0,67.5291,71.8193,79.8884,89.6234,94.0694,98.5681,89.3879,82.347,79.6536,83.9935,80.819,88.8083,89.7358,91.7953,93.7115,91.3126,89.4475,86.8999,88.1629,86.8805,86.2397,89.2066,88.3705,89.0005,98.1296],"stroke":"#07865c","width":1.7}],"guides":[{"label":"Typical activity","values":[100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0],"stroke":"#8fa0af","width":1.0,"dash":[6,5]}],"dates":["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"]},{"key":"drawdown","eyebrow":"Path risk","title":"Drawdown and recovery pressure","description":"Capital impairment and recovery are shown together so return is not separated from path difficulty.","reason":"Selected because the current recovery or drawdown path is central to the tape.","series":[{"label":"Drawdown","values":[0.0,-4.9184,-8.0861,0.0,-8.3673,-22.5195,-37.1022,-44.5773,-39.1127,-35.1491,-35.3063,-33.3467,-35.4613,-33.7295,-33.8665,-35.9483,-41.4848,-46.0259,-49.7507,-47.2996,-44.3669,-40.2156,-32.0903,-27.424,-22.9383,-37.5742,-38.7455,-39.5758,-33.4077,-35.96,-34.8203,-31.2644,-29.4978,-28.8697,-29.4582,-46.8611,-47.2775,-45.65,-48.7659,-53.5698,-52.8008,-56.113,-55.4231,-55.359],"stroke":"#c13f3f","width":1.9,"fill":"rgba(193,63,63,.10)"},{"label":"Recovery","values":[null,null,null,null,null,null,null,0.0,9.8599,17.0115,16.7279,20.2635,16.4482,19.5729,19.3256,15.5695,5.5798,0.0,0.0,4.8778,10.7141,18.9755,35.1454,44.4317,53.3587,24.232,21.9012,20.2487,32.5237,27.4445,29.7126,36.789,40.3047,41.5547,40.3835,5.7504,4.9217,8.1605,1.9597,0.0,1.6563,0.0,1.5719,1.7179],"stroke":"#07865c","width":1.7}],"guides":[{"label":"Prior high","values":[0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0],"stroke":"#8fa0af","width":1.0,"dash":[6,5]}],"dates":["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"]},{"key":"range","eyebrow":"Acceptance map","title":"Range position and boundary pressure","description":"Price location inside its observed range shows whether the tape is pressing an outer boundary or rotating through value.","reason":"Selected because price is testing an observed boundary or moving rapidly through its recent range.","series":[{"label":"Range position","values":[null,null,null,null,null,null,null,4.9137,15.5283,23.2273,22.922,26.7282,22.6209,25.9848,25.7185,21.6749,10.9206,2.0998,8.7404,12.873,17.8177,24.8171,38.5168,46.3845,53.9478,29.2707,27.2958,27.2988,38.262,33.7256,45.3916,68.9991,74.1488,75.9799,74.2642,23.5343,22.3204,27.0646,17.9817,3.9782,6.3994,0.0,1.9442,2.1247],"stroke":"#10243b","width":2.0},{"label":"From high","values":[null,null,null,null,null,null,null,-46.9005,-41.6649,-37.8675,-38.018,-36.1407,-38.1666,-36.5074,-36.6387,-38.6332,-43.9376,-48.2884,-51.857,-49.5087,-46.6989,-42.7216,-34.9369,-30.4662,-26.1685,-40.1909,-41.3131,-40.3671,-34.2798,-36.7987,-27.0742,-13.399,-11.1732,-10.3818,-11.1233,-33.0495,-33.5742,-31.5237,-35.4494,-41.5019,-40.533,-44.706,-43.8369,-43.7562],"stroke":"#c13f3f","width":1.5},{"label":"From low","values":[null,null,null,null,null,null,null,4.7826,15.1141,22.6077,22.3105,26.0153,22.0175,25.2916,25.0325,21.0967,10.6293,2.0438,11.503,16.9419,23.4495,32.6612,50.6911,61.0457,70.9995,38.5225,35.9235,34.0809,47.7679,42.1044,44.6334,52.5238,56.4439,57.8378,56.5318,17.9149,16.9908,20.6022,13.6881,3.0283,4.8878,0.0,1.5719,1.7179],"stroke":"#07865c","width":1.5}],"guides":[{"label":"Range centre","values":[50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0],"stroke":"#8fa0af","width":1.0,"dash":[6,5]}],"dates":["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"]},{"key":"directional","eyebrow":"Trend quality","title":"Directional strength and control","description":"Directional pressure shows which side controls the tape while strength remains direction-neutral.","reason":"Selected because directional control or trend strength is materially changing.","series":[{"label":"Trend strength","values":[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,36.779,35.5145,33.9502,32.4977,31.3674,29.2485,27.7206,25.9647,24.439,24.2683,24.1514,23.9008,24.1207,24.6742,25.1959,25.7961,26.3535,26.838],"stroke":"#10243b","width":2.0},{"label":"Positive direction","values":[null,null,null,null,null,null,null,null,null,null,null,null,null,8.3349,9.329,8.9088,8.4147,7.9451,7.2884,7.3762,10.7412,14.6083,21.5119,24.1916,27.656,23.8271,22.4863,21.5471,22.5964,21.6062,20.5645,25.9452,28.8515,27.5503,25.5438,21.4331,20.9817,21.2055,19.9503,18.4008,17.6582,17.0158,16.8475,16.9041],"stroke":"#07865c","width":1.6},{"label":"Negative direction","values":[null,null,null,null,null,null,null,null,null,null,null,null,null,22.9933,22.1362,22.8988,25.6857,28.0776,34.0223,32.8893,31.5489,29.184,26.2842,24.675,23.0323,31.0322,33.4797,31.7055,29.7192,28.4168,28.7943,26.8439,24.6471,25.874,28.0098,33.5581,33.2573,32.2377,34.6929,35.6149,34.2606,34.2364,33.8978,33.6585],"stroke":"#c13f3f","width":1.6}],"guides":[],"dates":["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"]},{"key":"impulse","eyebrow":"Price impulse","title":"Acceleration, deceleration and rollover","description":"The impulse path separates directional acceleration from a loss of momentum.","reason":"Selected because the latest impulse is unusually active or is approaching a change of direction.","series":[{"label":"Impulse","values":[null,null,null,null,null,null,null,null,null,null,null,null,-3.7116,-3.6435,-3.5528,-3.5061,-3.6019,-3.7773,-3.9876,-4.0306,-3.9271,-3.672,-3.1774,-2.6084,-1.9932,-1.9442,-1.92,-1.9051,-1.6797,-1.5633,-1.4189,-1.1789,-0.9224,-0.6914,-0.5209,-0.9231,-1.2406,-1.4246,-1.6495,-1.9565,-2.1507,-2.3815,-2.5137,-2.5867],"stroke":"#1678a7","width":2.0},{"label":"Signal","values":[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,-3.6295,-3.6591,-3.7248,-3.7859,-3.8142,-3.7858,-3.6641,-3.4529,-3.161,-2.9176,-2.7181,-2.5555,-2.3803,-2.2169,-2.0573,-1.8817,-1.6898,-1.4901,-1.2963,-1.2216,-1.2254,-1.2653,-1.3421,-1.465,-1.6021,-1.758,-1.9092,-2.0447],"stroke":"#b87806","width":1.7},{"label":"Expansion","values":[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,0.0276,-0.1182,-0.2628,-0.2447,-0.1129,0.1137,0.4867,0.8445,1.1678,0.9735,0.7981,0.6504,0.7007,0.6536,0.6384,0.7027,0.7674,0.7987,0.7754,0.2986,-0.0152,-0.1593,-0.3074,-0.4915,-0.5486,-0.6235,-0.6046,-0.542],"stroke":"#07865c","width":1.0,"fill":"rgba(7,134,92,.12)"}],"guides":[{"label":"Neutral","values":[0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0],"stroke":"#8fa0af","width":1.0,"dash":[6,5]}],"dates":["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"]}]},"canonical_url":"https://sharemaestro.com/terminal/0f1bfc38-544a-447b-8629-c05576530ee2/technical-pack/","technicals_url":"https://sharemaestro.com/terminal/0f1bfc38-544a-447b-8629-c05576530ee2/technicals/","canonical_technicals_url":"https://sharemaestro.com/terminal/0f1bfc38-544a-447b-8629-c05576530ee2/technicals/","distributions":{"pdf":"https://sharemaestro.com/terminal/0f1bfc38-544a-447b-8629-c05576530ee2/technical-pack/download.pdf","json":"https://sharemaestro.com/terminal/0f1bfc38-544a-447b-8629-c05576530ee2/technical-pack/data.json"},"source_fingerprint":"98dad5f57b8be3e9e542191baa7e3e7340a2efb63ae73163b41bed9438379b80","content_hash":"668284076cf18cde1774bfdb748dadaf1c618864123365a3ee2e8b525c411415","citation":"Sharemaestro, ICRC Technical Research Pack, completed week 2026-07-31, https://sharemaestro.com/terminal/0f1bfc38-544a-447b-8629-c05576530ee2/technical-pack/","data_notes":{"time_series":"Parallel time-series arrays align by index with their dates array.","events":"Sparse chart markers are published as compact dated event records rather than null-filled arrays.","missing_values":"A remaining null in an aligned series means that observation is genuinely unavailable; zero remains a valid value."},"boundary":"Completed market observations and published proprietary outputs only. Market Dynamics construction and private inputs are not disclosed. Historical research is not a forecast or instruction to trade."}