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A short position still needs a defined entry, exit and maximum loss.","finding":"In this ticker's completed record, 100.0% of comparable cases moved lower after 12 weeks, with an average move of -3.7% across 2 cases.","watch":"Reassess the reading when either price structure or the Market Dynamics state changes materially."},{"eyebrow":"Disagreement playbook","title":"Use unsupported price strength to tighten discipline","tone":"caution","finding":"Comparable disagreements produced an average pullback of 9.2% across 2 completed cases, with the largest move arriving after 10.5 weeks on average.","approach":"Avoid adding simply because price is rising. Let improving Market Dynamics confirm the move, or let price reset before reassessing it.","watch":"The warning ends when Market Dynamics catches up or price gives way."}]},"summary":"This record compares the ticker's completed price path with its published Market Dynamics 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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 strengthening","forceState":"Downward commitment","forcePath":"Commitment is strengthening","directionState":"Downward follow-through","persistenceState":"Developing","confirmationState":"Strong support","riskState":"Contained","intensityState":"Elevated"},"cards":[{"label":"SM Consensus Gauge","value":"-44.8","detail":"Joint downward confirmation","tone":"negative"},{"label":"SM Control Gauge","value":"-54.1","detail":"Seller control supports the view","tone":"negative"},{"label":"SM Force Gauge","value":"-42.1","detail":"Downward commitment","tone":"negative"},{"label":"SM Direction 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leadership","title":"Strength versus the research benchmark","description":"Relative performance is separated from absolute price direction to reveal leadership and lagging pressure.","reason":"Selected because benchmark-relative leadership is strengthening, fading or diverging from price.","series":[{"label":"Relative 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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,117.4319,48.0736,8.4307,8.1219,22.0999,57.0666,37.7567,69.7148,11.4815,32.4551,28.7685,25.5311,25.4732,67.4345,105.9798,189.2131,86.4948,78.4597,74.1566,98.7703,41.8566,67.4318,46.3186,77.7736,94.9764,60.6424,90.8501,31.5291,21.6916,32.1152,15.4628,209.2871,89.6558,26.5297,64.3514,20.9891,17.6976,30.53,64.3265,19.3724,28.9828,36.2182,115.5181,143.5988,54.3787,70.5827,18.9527,11.7639,19.9441,10.1036,18.7879,79.1449,81.5751,29.3303,33.8408,32.9812,128.8099,17.2337,50.5203,355.388,53.5941,79.434,22.9638,59.9185,15.3043,59.2222,14.6446,30.4427,8.2419,18.4702,31.1248,12.2688,1.74],"stroke":"#1678a7","width":1.8},{"label":"Cumulative balance","values":[null,null,null,null,null,null,null,65.0,65.0,65.6858,65.0807,66.6182,65.0,65.0,68.8625,68.2618,69.891,68.5049,67.3237,68.4578,66.5288,69.2802,74.5035,76.8508,74.7291,72.7928,75.2773,74.4135,73.106,74.011,72.4516,74.3832,75.5493,77.2777,76.7301,76.3558,76.8924,76.6428,80.2773,78.7005,79.1474,78.1188,77.8351,77.6147,77.2616,77.966,78.156,77.8803,77.5537,76.5034,77.7894,77.3427,77.901,77.7662,77.8471,77.7123,77.7782,77.6569,77.2743,76.9302,77.0491,76.9273,76.8113,76.3424,76.4026,75.1545,76.5683,76.3571,76.6689,76.5905,76.7598,76.7198,74.4804,71.5842,71.4979,71.4752,71.4245,71.5088,71.4784,71.4745],"stroke":"#07865c","width":1.7}],"guides":[{"label":"Typical activity","values":[100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0],"stroke":"#8fa0af","width":1.0,"dash":[6,5]}],"dates":["2025-02-07","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"]},{"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,-1.4458,-3.6145,-2.8916,-3.6145,-26.2651,-27.7108,-30.1205,-40.0,-39.759,-41.4458,-37.5904,-42.0482,-42.8916,-36.3855,-42.1687,-38.7952,-40.9639,-47.9518,-45.7831,-46.506,-44.5783,-23.6145,-18.3133,-28.1928,-34.9398,-21.2048,-30.6024,-31.6867,-28.4337,-31.3253,-22.5301,-18.5157,-4.8193,-13.9759,-16.8651,-12.7711,-13.494,-11.3253,-13.9759,-12.5301,-16.3855,-17.8313,-18.0723,-19.759,-18.3133,-18.0723,-20.9639,-22.6506,-22.8916,-22.5301,-25.3012,-24.0964,-25.7831,-21.9277,-22.6506,-22.1687,-22.8916,-23.3735,-26.0241,-23.6145,-25.3012,-26.506,-28.6747,-26.0241,-31.3253,-25.3012,-25.5422,-24.241,-25.012,-24.8217,-25.5422,-27.7108,-27.2289,-27.7373,-28.9157,-30.1205,-27.9542,-29.6386,-34.3373],"stroke":"#c13f3f","width":1.9,"fill":"rgba(193,63,63,.10)"},{"label":"Recovery","values":[null,null,null,null,null,null,null,0.0,0.0,0.4016,0.0,6.5844,0.0,0.0,11.3924,1.2658,7.173,3.3755,0.0,4.1667,2.7778,6.4815,46.7593,56.9444,37.963,25.0,51.3889,33.3333,31.25,37.5,31.9444,48.8426,56.5556,82.8704,65.2778,59.7269,67.5926,66.2037,70.3704,65.2778,68.0556,60.6481,57.8704,57.4074,50.0,52.7027,47.8261,21.4815,18.8889,18.5185,19.0741,9.3474,11.1111,8.642,13.6842,12.6316,4.8701,3.8961,3.2468,0.0,3.2573,0.9772,0.0,0.0,3.7162,0.0,8.7719,8.4211,10.3158,9.193,9.4702,8.4211,5.2632,5.9649,5.2246,3.5088,1.7544,4.9088,2.4561,0.0],"stroke":"#07865c","width":1.7}],"guides":[{"label":"Prior high","values":[0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0],"stroke":"#8fa0af","width":1.0,"dash":[6,5]}],"dates":["2025-02-07","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"]},{"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,52.9722,50.3934,46.8135,43.4892,40.6561,38.6274,37.3653,36.8584,36.7864,36.7195,36.4016,36.0683,36.2369,35.6948,35.1914,34.3622,33.5923,32.8773,31.8349,30.5694,28.7345,27.4736,26.3579,25.2618,23.584,21.909,20.4598,19.1886,18.1696,16.9611,15.8389,15.0504,14.806,14.6195,14.4463,14.2148,13.9998,14.2523,14.9071,16.2079,19.2401,21.5913,23.9362,26.1136,28.3574,30.4409,32.5683,34.5438,36.4762,38.2707,40.1021,42.8245,45.3524,47.6998],"stroke":"#10243b","width":2.0},{"label":"Positive 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