{"schema_version":"1.0","name":"HELA Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"127880cb-55fc-44c9-a1b8-6bcfeb691a25","symbol":"HELA","name":"JPM US Hedged Equity Laddered Overlay Active UCITS ETF - USD (acc)","exchange":"LSE","country":"GB","asset_type":"etf","currency":"GBP","sector":null,"industry":null},"summary":"Market Dynamics eased this week but remains positive. Underlying support has contracted across the recent completed path. Price has not yet established a clear direction.","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, Range position and boundary pressure, Directional strength and control, Acceleration, deceleration and rollover, Range pressure and compression."},{"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":40,"displayedObservations":40,"assetType":"ETF","state":"Rotational","stateTone":"caution","summary":"Market Dynamics eased this week but remains positive. Underlying support has contracted across the recent completed path. Price has not yet established a clear direction.","evidenceAlignment":{"status":"Support weakening","headline":"Positive Market Dynamics has weakened while price remains rotational","summary":"Market Dynamics eased this week but remains positive. Underlying support has contracted across the recent completed path. Price has not yet established a clear direction.","take":"Treat the weaker support as caution until price and Market Dynamics establish clearer agreement.","tone":"caution","conflict":true},"marketDynamics":{"available":true,"readAvailable":true,"dates":["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":[0.738453,0.950941,0.927896,0.906548,1.008212,1.033796,0.900073,0.796195,0.588499,0.560645,0.592678,0.488701],"opens":[19.072,18.928,19.421,19.222,19.276,19.282,19.14,19.192,19.288,19.34,19.613,19.623],"highs":[19.167,19.023,19.421,19.252,19.3,19.282,19.14,19.342,19.346,19.668,19.693,19.63],"lows":[19.072,18.928,19.421,19.172,19.276,19.282,19.14,19.184,19.062,19.34,19.613,19.321],"closes":[19.167,19.023,19.421,19.252,19.3,19.282,19.14,19.296,19.162,19.653,19.622,19.321],"hoverRows":[[{"label":"Open","value":"19.1","className":"is-ohlc","compact":true},{"label":"High","value":"19.2","className":"is-ohlc","compact":true},{"label":"Low","value":"19.1","className":"is-ohlc","compact":true},{"label":"Close","value":"19.2","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.74","note":"Supportive and strengthening","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"18.9","className":"is-ohlc","compact":true},{"label":"High","value":"19.0","className":"is-ohlc","compact":true},{"label":"Low","value":"18.9","className":"is-ohlc","compact":true},{"label":"Close","value":"19.0","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.95","note":"Supportive and strengthening","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"19.4","className":"is-ohlc","compact":true},{"label":"High","value":"19.4","className":"is-ohlc","compact":true},{"label":"Low","value":"19.4","className":"is-ohlc","compact":true},{"label":"Close","value":"19.4","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.93","note":"Supportive but easing","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"19.2","className":"is-ohlc","compact":true},{"label":"High","value":"19.3","className":"is-ohlc","compact":true},{"label":"Low","value":"19.2","className":"is-ohlc","compact":true},{"label":"Close","value":"19.3","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.91","note":"Supportive but easing","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"19.3","className":"is-ohlc","compact":true},{"label":"High","value":"19.3","className":"is-ohlc","compact":true},{"label":"Low","value":"19.3","className":"is-ohlc","compact":true},{"label":"Close","value":"19.3","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"1.01","note":"Supportive and strengthening","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"19.3","className":"is-ohlc","compact":true},{"label":"High","value":"19.3","className":"is-ohlc","compact":true},{"label":"Low","value":"19.3","className":"is-ohlc","compact":true},{"label":"Close","value":"19.3","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"1.03","note":"Supportive and strengthening","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"19.1","className":"is-ohlc","compact":true},{"label":"High","value":"19.1","className":"is-ohlc","compact":true},{"label":"Low","value":"19.1","className":"is-ohlc","compact":true},{"label":"Close","value":"19.1","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.90","note":"Supportive but easing","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"19.2","className":"is-ohlc","compact":true},{"label":"High","value":"19.3","className":"is-ohlc","compact":true},{"label":"Low","value":"19.2","className":"is-ohlc","compact":true},{"label":"Close","value":"19.3","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.80","note":"Supportive but easing","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"19.3","className":"is-ohlc","compact":true},{"label":"High","value":"19.3","className":"is-ohlc","compact":true},{"label":"Low","value":"19.1","className":"is-ohlc","compact":true},{"label":"Close","value":"19.2","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.59","note":"Supportive but easing","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"19.3","className":"is-ohlc","compact":true},{"label":"High","value":"19.7","className":"is-ohlc","compact":true},{"label":"Low","value":"19.3","className":"is-ohlc","compact":true},{"label":"Close","value":"19.7","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.56","note":"Supportive but easing","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"19.6","className":"is-ohlc","compact":true},{"label":"High","value":"19.7","className":"is-ohlc","compact":true},{"label":"Low","value":"19.6","className":"is-ohlc","compact":true},{"label":"Close","value":"19.6","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.59","note":"Supportive and strengthening","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"19.6","className":"is-ohlc","compact":true},{"label":"High","value":"19.6","className":"is-ohlc","compact":true},{"label":"Low","value":"19.3","className":"is-ohlc","compact":true},{"label":"Close","value":"19.3","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.49","note":"Supportive but easing","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}]],"pressureRange":[-2.3,2.3],"priceRange":[18.9852,19.6908],"zones":{"accumulationBoundary":-1.5,"accumulationDarkBoundary":-2.0,"distributionBoundary":1.5,"distributionDarkBoundary":2.0},"latest":0.488701,"state":"Positive but weakening over four weeks","context":{"scenario":"positiveWeakening","latestDirection":"easing","fourWeekDirection":"weakening","now":{"label":"Easier this week","detail":"Market Dynamics eased this week but remains positive."},"fourWeek":{"label":"Weakened over four weeks","detail":"Underlying support has contracted across the recent completed path."},"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":"Positive support is weakening","detail":"Market Dynamics remains above zero, but support has contracted across the recent completed path. Price confirmation now carries more weight.","tone":"caution"},"chartSummary":"Price is between the outer positioning zones. The Market Dynamics bars show whether underlying support is strengthening or weakening.","summary":"Market Dynamics remains above zero, but support has contracted across the recent completed path. Price confirmation now carries more weight.","annotations":[{"label":"Current tape relationship","value":"Positive support is weakening","detail":"Market Dynamics eased this week but remains positive.","tone":"caution"},{"label":"Price location","value":"Between zones","detail":"Price is travelling between the two major positioning zones.","tone":"neutral"},{"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":"Weakening","detail":"Underlying support has contracted across the recent completed path.","tone":"negative"}],"relationshipEvidence":{"available":false,"observations":12,"summary":"More completed weekly history is needed for a dependable ticker-level record."},"events":{"positioning_recoveries":[],"reversal_warnings":[],"reversal_dangers":[]}},"smTape":{"available":true,"dates":["2025-11-21","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":[18.609,18.866,18.806,18.724,18.719,18.732,18.601,18.89,18.873,18.591,18.447,18.562,18.497,18.723,18.688,18.822,18.589,18.285,18.075,18.41,18.399,18.763,18.82,18.802,18.822,19.28,19.1,19.134,19.167,19.023,19.421,19.252,19.3,19.282,19.14,19.296,19.162,19.653,19.622,19.321],"consensus":[-100.0,68.4206,25.3012,-12.6875,26.7287,11.0145,-40.8006,63.1151,26.2657,-44.5418,-45.6029,0.0,-47.0292,40.6414,9.2136,40.314,-15.7458,-60.4074,-73.7963,17.5042,0.0,63.2346,42.7608,25.2205,17.2429,78.3588,20.4781,50.4072,50.9552,0.0,52.5046,18.8488,48.1488,27.6476,-11.7306,42.9729,-26.9043,76.1237,24.849,25.7413],"supportDates":["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,27.6746,-41.1354,54.7629,21.601,-42.8483,-32.2665,0.0,-35.0458,41.9669,0.8348,35.3805,-22.4485,-67.1355,-74.9544,30.1845,0.0,59.0483,43.1968,18.0664,2.0085,76.9502,10.8569,50.1971,56.8064,0.0,53.7007,32.557,54.0898,22.3605,-6.3699,47.445,-18.2511,78.8624,12.3384,34.1369],"force":[-100.0,68.4206,25.3012,-12.6875,18.9454,8.5929,-41.5916,89.161,4.4226,-51.9829,-53.5982,0.0,-58.6498,53.2591,3.1773,33.4581,-23.3223,-58.2799,-88.1685,74.8726,0.0,95.8224,32.5783,6.7159,1.514,98.594,14.4984,40.9402,31.8447,0.0,37.7497,37.4104,41.563,6.2275,-27.7767,51.2141,-71.6542,95.8894,2.5278,65.2753],"direction":[null,null,null,null,32.2882,6.296,-39.8528,54.0564,47.199,-41.1623,-55.1336,0.0,-52.4241,30.1139,29.5482,50.8493,-2.6737,-54.2378,-62.207,37.965,0.0,44.7419,49.5357,46.6142,48.0512,65.5149,56.4571,57.4094,57.9185,0.0,61.6769,43.3673,46.0632,48.9899,-6.3957,31.9753,-4.8294,58.8755,58.7017,12.0923],"intensity":[null,null,null,null,75.0,60.0,50.0,100.0,50.0,100.0,70.0,54.5455,25.0,69.2308,64.2857,33.3333,75.0,94.1176,72.2222,100.0,15.0,100.0,86.3636,4.3478,12.5,100.0,80.7692,18.5185,17.8571,48.2759,100.0,64.5161,21.875,3.0303,41.1765,54.2857,36.1111,97.2973,73.6842,76.9231],"confirmation":[54.6667,44.5613,30.7631,26.7267,53.5307,49.8734,81.0752,89.1179,53.1437,82.506,83.0398,33.9616,83.5861,81.3696,26.2464,80.7667,50.5007,87.163,92.0352,37.9224,28.1484,89.292,81.3665,52.949,28.1679,93.713,31.3933,83.845,83.6341,8.3641,84.3336,34.7557,83.1164,53.6083,26.9912,81.9343,55.4384,92.9202,53.1806,34.5605],"persistence":[null,null,33.3333,0.0,20.0,33.3333,14.2857,25.0,50.0,25.0,0.0,12.5,12.5,12.5,12.5,12.5,12.5,12.5,12.5,0.0,12.5,12.5,12.5,12.5,37.5,62.5,87.5,87.5,100.0,87.5,87.5,87.5,87.5,87.5,62.5,62.5,37.5,50.0,50.0,25.0],"assessmentRisk":[null,null,null,null,20.1755,45.6198,25.9754,8.0664,26.1522,11.8695,13.69,48.6013,25.6713,13.1561,41.8009,26.7573,33.5378,19.0317,12.968,56.8223,35.5143,17.1311,28.5513,35.4641,40.0076,9.7711,31.6745,19.5383,19.9064,41.6131,18.7571,15.6712,4.7989,29.0169,39.2183,10.2618,16.7141,7.9682,36.6987,18.6443],"volumeParticipation":true,"latest":{"consensus":25.7,"control":34.1,"force":65.3,"direction":12.1,"confirmation":34.6,"persistence":25.0,"assessmentRisk":18.6,"intensity":76.9,"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":"Upward commitment","forcePath":"Commitment is strengthening","directionState":"Upward follow-through","persistenceState":"Unsettled","confirmationState":"Limited support","riskState":"Contained","intensityState":"Elevated"},"cards":[{"label":"SM Consensus Gauge","value":"+25.7","detail":"Market Dynamics has stronger support","tone":"positive"},{"label":"SM Control Gauge","value":"+34.1","detail":"Buyer control supports the view","tone":"positive"},{"label":"SM Force Gauge","value":"+65.3","detail":"Upward commitment","tone":"positive"},{"label":"SM Direction Gauge","value":"+12.1","detail":"Upward follow-through","tone":"positive"},{"label":"SM Confirmation Gauge","value":"35/100","detail":"Limited support","tone":"caution"}]},"kpis":[{"label":"Price structure","value":"Rotational","detail":"completed-week alignment","tone":"caution"},{"label":"Momentum","value":"59.1","detail":"Positive","tone":"positive"},{"label":"Risk pressure","value":"1.2%","detail":"Normal","tone":"neutral"},{"label":"Trend quality","value":"16.1","detail":"Range-led","tone":"neutral"},{"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 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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,15.5267,150.6337,8.6962,30.5916,194.5305,180.5179,6.71,16.5895,7.548,10.6262,0.0,180.0744,160.0666,0.0,27.1522,15.6303,0.0,4.8367,203.7075,0.0,402.4177,5.4769,368.8377,0.0,56.5068,224.7993,0.0,0.0,16.3043,214.9837,67.6633,0.0,11.7647],"stroke":"#1678a7","width":1.8},{"label":"Cumulative balance","values":[null,null,null,null,null,null,null,66.2705,65.0,65.0,65.0,76.0825,65.0586,65.441,65.0,65.3775,65.0,65.0,65.0,71.218,71.218,72.1786,72.7346,72.7346,72.8863,79.9637,79.9637,92.5515,92.7032,80.2671,80.2671,78.5988,84.9685,84.9685,84.9685,85.4235,78.7505,80.9243,80.9243,80.6209],"stroke":"#07865c","width":1.7}],"guides":[{"label":"Typical 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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,100.0,81.0304,14.9883,21.028,38.9408,28.8162,64.0187,58.567,79.4393,43.1464,4.1547,0.0,38.1115,36.8601,78.2708,84.7554,82.7076,84.9829,100.0,85.0622,87.8838,90.6224,78.6722,100.0,87.4443,91.0104,89.6731,79.1233,90.7132,80.7578,99.0584,95.6119,77.0087],"stroke":"#10243b","width":2.0},{"label":"From high","values":[null,null,null,null,null,null,null,0.0,-0.4274,-1.9152,-2.6749,-2.0682,-2.4111,-1.2187,-1.4034,-0.6964,-1.9257,-3.5296,-4.6375,-2.8701,-2.9281,-1.0077,-0.707,-0.8019,-0.6964,0.0,-0.9336,-0.7573,-0.5861,-1.333,0.0,-0.8702,-0.623,-0.7157,-1.4469,-0.6436,-1.3336,-0.0763,-0.3605,-1.889],"stroke":"#c13f3f","width":1.5},{"label":"From 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HELA Technical Research Pack, completed week 2026-08-21, https://sharemaestro.com/terminal/127880cb-55fc-44c9-a1b8-6bcfeb691a25/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."}