{"schema_version":"1.0","name":"XRTM Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"10768515-2e3a-4864-8d51-707c878d5184","symbol":"XRTM","name":"Xtrackers II Rolling Target Mat","exchange":"MIL","country":"IT","asset_type":"etf","currency":"EUR","sector":null,"industry":null},"summary":"Market Dynamics strengthened this week and remains positive. Underlying support has strengthened across the recent completed path. The completed evidence supports the upward price structure.","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, Directional strength and control, Range pressure and compression, Range position and boundary pressure, Directional pressure and rotation."},{"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":"2026-08-21","observations":50,"displayedObservations":50,"assetType":"ETF","state":"Aligned upward","stateTone":"positive","summary":"Market Dynamics strengthened this week and remains positive. Underlying support has strengthened across the recent completed path. The completed evidence supports the upward price structure.","evidenceAlignment":{"status":"Evidence aligned","headline":"Upward price structure retains strong Market Dynamics support","summary":"Market Dynamics strengthened this week and remains positive. Underlying support has strengthened across the recent completed path. The completed evidence supports the upward price structure.","take":"The advance remains supported. Reclassify it only if the broader Market Dynamics path weakens or price structure breaks.","tone":"positive","conflict":false},"marketDynamics":{"available":true,"readAvailable":true,"dates":["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","2026-08-21"],"values":[-0.366852,-0.490565,-0.474903,-0.389529,-0.329053,-0.258816,-0.131339,-0.05874,0.105422,0.325222,0.465629,0.645463,0.701334,0.695905,0.733607,0.808613,0.815414,0.882921,0.953574,1.007371,1.067701,1.087861],"opens":[8.891,8.96,8.999,8.967,8.988,9.002,9.055,9.024,9.014,9.072,9.052,9.054,9.08,9.075,9.088,9.104,9.102,9.098,9.123,9.168,9.105,9.119],"highs":[8.992,9.018,9.106,9.035,9.006,9.01,9.055,9.067,9.082,9.131,9.052,9.06,9.08,9.082,9.096,9.106,9.102,9.104,9.123,9.168,9.127,9.13],"lows":[8.834,8.871,8.895,8.927,8.957,8.942,8.979,8.99,8.981,8.99,9.033,9.02,9.051,9.061,9.067,9.09,9.068,9.067,9.072,9.078,9.099,9.078],"closes":[8.909,8.945,8.983,8.996,8.989,8.99,9.002,9.005,9.028,9.042,9.038,9.051,9.067,9.071,9.088,9.097,9.083,9.074,9.092,9.103,9.119,9.119],"hoverRows":[[{"label":"Open","value":"8.89","className":"is-ohlc","compact":true},{"label":"High","value":"8.99","className":"is-ohlc","compact":true},{"label":"Low","value":"8.83","className":"is-ohlc","compact":true},{"label":"Close","value":"8.91","className":"is-ohlc","compact":true},{"label":"Market 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Extension can persist; a rollover has not been confirmed.","tone":"caution"},"chartSummary":"Price is in the distribution zone. The Market Dynamics bars show whether underlying support is keeping pace with that elevated price.","summary":"Price is inside distribution conditions, but Market Dynamics still offers support. Extension can persist; a rollover has not been confirmed.","annotations":[{"label":"Current tape relationship","value":"Extended but supported","detail":"Market Dynamics strengthened this week and remains positive.","tone":"caution"},{"label":"Price location","value":"Distribution zone","detail":"Price is extended; support can persist, but rollover risk must be monitored.","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":"Underlying support has strengthened across the recent completed path.","tone":"positive"}],"relationshipEvidence":{"available":false,"observations":22,"summary":"More completed weekly history is needed for a dependable ticker-level record."},"events":{"positioning_recoveries":[],"reversal_warnings":[],"reversal_dangers":[]}},"smTape":{"available":true,"dates":["2025-09-12","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","2026-08-21"],"close":[8.863,8.91,8.877,8.885,8.871,8.874,8.883,8.926,8.893,8.899,8.907,8.951,8.948,8.939,8.963,8.967,8.973,9.002,8.99,8.996,8.98,9.002,9.0,8.993,8.991,8.927,8.922,8.904,8.909,8.945,8.983,8.996,8.989,8.99,9.002,9.005,9.028,9.042,9.038,9.051,9.067,9.071,9.088,9.097,9.083,9.074,9.092,9.103,9.119,9.119],"consensus":[-56.9231,24.2424,-82.5,-33.1429,0.0,0.0,0.0,32.8912,0.0,0.0,11.631,44.2366,19.3907,12.184,42.3804,14.8971,17.8022,41.2495,0.0,28.2159,0.0,19.499,0.0,0.0,0.0,-49.9423,-28.1958,-35.9443,-13.8496,0.0,16.4188,22.6408,14.2208,12.5842,0.0,0.0,20.6373,14.3581,0.0,24.6544,22.1269,18.1141,30.9994,23.2947,8.3051,0.0,13.7904,0.0,32.2524,24.8907],"supportDates":["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","2026-08-21"],"control":[null,null,null,null,null,0.0,0.0,26.0851,0.0,0.0,7.1117,45.4061,10.2504,4.477,39.189,9.2938,15.3066,33.3222,0.0,28.0583,0.0,15.7085,0.0,0.0,0.0,-45.2789,-21.7511,-31.9969,-4.0881,0.0,9.2154,18.6071,11.4157,10.9854,0.0,0.0,18.3934,8.1778,0.0,27.0378,22.3954,17.5062,33.7616,20.7389,5.3685,0.0,12.2555,0.0,36.0355,24.3606],"force":[-56.9231,24.2424,-82.5,-33.1429,0.0,0.0,0.0,35.6511,0.0,0.0,6.3042,48.7538,1.1125,6.0947,40.9209,2.339,5.0833,49.1879,0.0,23.0793,0.0,24.8709,0.0,0.0,0.0,-77.5308,-28.8859,-36.8168,-1.4177,0.0,22.7072,23.4188,6.5478,8.1307,0.0,0.0,18.4053,4.7767,0.0,15.6473,9.5765,4.0685,18.303,7.1251,9.0377,0.0,7.4357,0.0,23.4366,13.154],"direction":[null,null,null,null,0.0,0.0,0.0,38.6982,0.0,0.0,20.6007,39.6733,44.4818,34.0481,47.0704,33.6125,29.7392,44.639,0.0,32.065,0.0,19.994,0.0,0.0,0.0,-35.5659,-35.0682,-39.8323,-33.8855,0.0,20.1594,26.6952,22.9073,17.5924,0.0,0.0,24.796,28.2652,0.0,28.3642,30.7846,28.8415,36.9114,37.7652,24.049,0.0,20.0838,0.0,34.2258,33.88],"intensity":[null,null,null,null,50.0,80.0,50.0,85.7143,62.5,44.4444,10.0,90.9091,41.6667,15.3846,35.7143,80.0,25.0,58.8235,27.7778,52.6316,35.0,47.619,18.1818,30.4348,16.6667,100.0,38.4615,81.4815,100.0,82.7586,100.0,96.7742,59.375,30.303,85.2941,17.1429,38.8889,89.1892,97.3684,25.641,60.0,12.1951,35.7143,41.8605,38.6364,6.6667,36.9565,85.1064,77.0833,36.7347],"confirmation":[40.8821,30.4242,49.0667,33.2724,26.8034,24.535,2.0492,78.713,28.1914,25.1022,26.2951,82.2755,51.2901,27.4261,81.5659,50.1595,50.6804,81.5626,7.2746,76.8749,6.0028,74.4612,3.9115,27.6098,26.9909,84.8934,77.1419,79.5889,26.8684,25.4222,73.5554,75.3302,49.6929,71.9156,24.6972,24.9272,74.5701,49.7301,25.8683,75.5786,74.694,50.711,77.4908,52.3338,4.1019,4.4762,49.576,25.9217,77.9944,83.6154],"persistence":[null,null,33.3333,50.0,40.0,33.3333,28.5714,12.5,0.0,12.5,12.5,37.5,50.0,62.5,75.0,75.0,87.5,100.0,87.5,87.5,75.0,75.0,62.5,50.0,37.5,12.5,0.0,25.0,37.5,50.0,37.5,25.0,12.5,12.5,25.0,37.5,62.5,75.0,62.5,62.5,62.5,62.5,75.0,87.5,87.5,75.0,87.5,75.0,75.0,75.0],"assessmentRisk":[null,null,null,null,16.8724,41.045,12.3254,29.2017,35.6061,32.707,30.9894,14.4536,38.9019,39.8857,28.0517,25.3665,33.2082,29.1804,42.3451,29.9533,20.2548,9.7495,25.4325,5.0801,35.8708,24.9012,35.8066,32.0018,43.0248,27.9993,41.0289,38.6135,42.7174,41.1413,30.2299,16.5239,35.5335,41.2912,45.1589,37.4171,38.6679,39.711,34.4838,38.3508,41.6127,15.3597,10.8776,21.5645,33.7428,37.5394],"volumeParticipation":true,"latest":{"consensus":24.9,"control":24.4,"force":13.2,"direction":33.9,"confirmation":83.6,"persistence":75.0,"assessmentRisk":37.5,"intensity":36.7,"evidenceDepth":100},"analysis":{"status":"Joint upward confirmation","headline":"The gauges support the upward market view","summary":"Price structure and Market Dynamics agree. Control, force and direction support the same upward assessment.","take":"Current assessment: upward pressure has broad support.","tone":"positive","supportedView":"Price structure and Market Dynamics","direction":"upward","disagreement":false},"support":{"window":"Latest 12 months","controlState":"Buyer control supports the view","controlPath":"Control support is strengthening","forceState":"Upward commitment","forcePath":"Commitment is strengthening","directionState":"Upward follow-through","persistenceState":"Established","confirmationState":"Strong support","riskState":"Contained","intensityState":"Quiet"},"cards":[{"label":"SM Consensus Gauge","value":"+24.9","detail":"Joint upward confirmation","tone":"positive"},{"label":"SM Control Gauge","value":"+24.4","detail":"Buyer control supports the view","tone":"positive"},{"label":"SM Force Gauge","value":"+13.2","detail":"Upward commitment","tone":"positive"},{"label":"SM Direction Gauge","value":"+33.9","detail":"Upward 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upward.","series":[{"label":"Close","values":[8.863,8.91,8.877,8.885,8.871,8.874,8.883,8.926,8.893,8.899,8.907,8.951,8.948,8.939,8.963,8.967,8.973,9.002,8.99,8.996,8.98,9.002,9.0,8.993,8.991,8.927,8.922,8.904,8.909,8.945,8.983,8.996,8.989,8.99,9.002,9.005,9.028,9.042,9.038,9.051,9.067,9.071,9.088,9.097,9.083,9.074,9.092,9.103,9.119,9.119],"stroke":"#10243b","width":2.1},{"label":"Fast trend","values":[null,null,null,null,8.8741,8.8741,8.8757,8.8849,8.8863,8.8886,8.892,8.9027,8.9109,8.916,8.9246,8.9323,8.9397,8.951,8.9581,8.965,8.9677,8.974,8.9787,8.9813,8.9831,8.9729,8.9636,8.9528,8.9448,8.9449,8.9518,8.9598,8.9651,8.9697,8.9755,8.9809,8.9895,8.999,9.0061,9.0143,9.0239,9.0324,9.0425,9.0524,9.058,9.0609,9.0666,9.0732,9.0815,9.0883],"stroke":"#176fa3","width":1.7},{"label":"Slow 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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,70.7507,90.2318,87.0875,85.771,97.2421,81.7455,80.0512,89.8926,42.2653,95.5287,190.5036,199.1279,191.783,156.1406,156.2528,123.5752,156.6041,114.1683,110.3198,324.837,93.1566,126.8659,76.9122,93.1937,111.7851,107.6555,47.2216,91.0702,74.4545,82.5417,63.3985,13.4031,22.5664,16.5144,20.101,21.3724,26.3439,16.7694,143.2144,121.8965,119.4703,64.9304,49.4605],"stroke":"#1678a7","width":1.8},{"label":"Cumulative 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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,29.9401,28.0947,28.1348,27.2717,26.3585,25.5106,24.7232,23.5583,23.4337,23.5432,23.9209,25.0511,26.1007,26.6255,27.443,28.235,29.2032,30.2651,30.3771,30.5212,31.0308,32.2414,33.3656,33.54],"stroke":"#10243b","width":2.0},{"label":"Positive 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direction","values":[null,null,null,null,null,null,null,null,null,null,null,null,null,4.9706,4.6619,4.3697,4.8089,4.5104,4.2623,7.2018,6.5201,5.9169,5.4531,4.9407,5.2515,10.1378,10.4063,9.9966,14.3374,12.6112,10.6325,9.7861,9.4197,10.0894,9.4845,8.9022,8.1917,7.3141,7.2022,8.0508,7.8453,7.6922,7.4753,7.3369,9.4179,9.0339,8.5183,7.6847,7.4408,9.4075],"stroke":"#c13f3f","width":1.6}],"guides":[],"dates":["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","2026-08-21"]},{"key":"volatility","eyebrow":"Risk geometry","title":"Range pressure and compression","description":"Movement pressure and envelope width show whether risk is expanding, settling or compressed.","reason":"Selected because current variability is unusually compressed or expanded versus this ticker's own tape.","series":[{"label":"Range pressure","values":[null,null,null,null,null,null,null,null,null,null,null,null,null,0.7278,0.7186,0.7116,0.6993,0.6901,0.679,0.6706,0.689,0.7033,0.7088,0.727,0.7411,0.7931,0.841,0.8627,0.9273,0.975,1.0693,1.0772,1.04,1.0196,1.0059,0.9948,1.0013,1.0397,0.9809,0.9411,0.8952,0.8474,0.8082,0.7638,0.7371,0.7143,0.702,0.7217,0.6909,0.6823],"stroke":"#c13f3f","width":1.9},{"label":"Envelope 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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,77.1186,49.1525,54.2373,61.0169,92.0635,81.8841,75.3623,90.1408,74.1573,77.5281,86.9792,77.8894,80.9045,72.8643,75.2252,74.3243,67.234,66.383,39.1489,37.0213,29.3617,31.7797,47.0339,54.7794,59.5588,56.9853,57.3529,61.7647,62.8676,71.3235,70.0337,68.6869,73.064,78.4512,79.798,85.5219,88.5522,83.8384,80.8081,86.8687,80.5389,85.3293,85.3293],"stroke":"#10243b","width":2.0},{"label":"From 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