{"schema_version":"1.0","name":"FMX Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-14","ticker":{"uuid":"13e6bac4-975c-483f-bf59-d83506ee0ee9","symbol":"FMX","name":"Fomento Económico Mexicano, S.A.B. de C.V.","exchange":"BUE","country":"AR","asset_type":"equity","currency":"ARS","sector":"Consumer Defensive","industry":"Beverages - Brewers"},"summary":"Market Dynamics eased this week but remains positive. Underlying support has contracted across the recent completed path. Price has moved below the distribution zone after Market Dynamics weakened.","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, Acceleration, deceleration and rollover, Strength versus the research benchmark, Directional strength and control, Range pressure and compression, Drawdown and recovery pressure."},{"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":"2026-08-14","observations":260,"displayedObservations":104,"assetType":"Equity","state":"Rotational","stateTone":"caution","summary":"Market Dynamics eased this week but remains positive. Underlying support has contracted across the recent completed path. Price has moved below the distribution zone after Market Dynamics weakened.","evidenceAlignment":{"status":"Rollover warning","headline":"Price has moved below distribution as Market Dynamics weakened","summary":"Market Dynamics eased this week but remains positive. Underlying support has contracted across the recent completed path. Price has moved below the distribution zone after Market Dynamics weakened.","take":"The prior extension has started to roll over. Further price weakness would confirm the downside transition; a recovery in both readings would remove the 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elevated relative to Market Dynamics","kind":"structuralDivergence","expectedDirection":"lower","episodes":0,"completedEpisodes":0,"activeEpisodes":0,"horizons":[{"weeks":4,"sample":0,"expectedCount":0,"confidence":"Not enough evidence"},{"weeks":12,"sample":0,"expectedCount":0,"confidence":"Not enough evidence"},{"weeks":26,"sample":0,"expectedCount":0,"confidence":"Not enough 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Further price weakness would confirm the rollover.","confirm":"Further price weakness with weak Market Dynamics would confirm the rollover.","invalidate":"A recovery in both price and Market Dynamics would remove the rollover warning.","level":"positive","direction":"weakening","zone":"middle","zoneContext":"Price has moved down through distribution conditions as Market Dynamics contracted. The completed tape now carries a stronger continuation-risk warning.","historical":{"label":"Broad directional cases","weeks":12,"direction":"lower","percent":37.5,"averageReturn":10.7,"sample":16},"nowContext":{"label":"Easier this week","detail":"Market Dynamics eased this week but remains positive."},"fourWeekContext":{"label":"Weakened over four weeks","detail":"Underlying support has contracted across the recent completed path."},"priceContext":{"label":"Price has moved below distribution","detail":"Price left the upper zone as Market Dynamics weakened."}},"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":"Divergence control","title":"Do not chase price while the underlying evidence lags","tone":"caution","approach":"Use the gap to review position size, protect gains and wait for either Market Dynamics to catch up or price to correct. The disagreement is a warning condition, not an automatic exit.","finding":"In this ticker's completed record, 37.5% of comparable cases moved lower after 12 weeks, with an average move of 10.7% across 16 cases.","watch":"A recovery in both price and Market Dynamics would remove the rollover warning."},{"eyebrow":"Zone positioning","title":"Use accumulation to prepare the long case, then wait for confirmation","tone":"positive","finding":"After accumulation, 100.0% of completed 12-week outcomes were higher across 1 cases. Distinct visits lasted 4.0 weeks on average before leaving the zone.","approach":"Build the thesis and entry conditions while price is in accumulation. Increase exposure only when price responds; location alone is not the entry.","watch":"A failed price response or renewed weakness removes the reason to increase long exposure."},{"eyebrow":"Disagreement playbook","title":"Use unsupported price strength to tighten discipline","tone":"caution","finding":"Comparable disagreements produced an average pullback of 7.4% across 16 completed cases, with the largest move arriving after 4.5 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 history."},"events":{"positioning_recoveries":[],"distribution_rollovers":[{"date":"2026-07-10","price":33101.81881},{"date":"2026-07-31","price":33400.0}],"price_pressure_gaps":[]}},"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":[23197.998,22098.0918,21473.1465,21823.1152,20223.2539,20373.2383,20273.252,19448.3223,19523.4707,18848.5254,19023.5117,18598.543,17098.666,16073.7432,16298.7246,16273.7285,16248.7285,16723.6895,17273.6484,16198.7344,16448.7148,16423.8652,16723.8418,16973.8262,17498.791,18348.7305,18023.7539,19273.668,19848.627,20423.5879,20923.5527,21798.4922,21523.5098,22173.4688,20748.5645,21123.8496,20798.8691,19623.9336,20223.9004,20598.8809,21373.8379,21048.8555,21098.8535,19773.9258,20448.8887,21423.8359,21398.8359,21449.168,21174.1777,20199.2129,19249.252,18474.2812,19824.2285,19599.2383,19649.2344,22749.1152,25279.0156,24159.0625,24209.0586,24299.0566,24799.4004,24869.3984,23709.4258,23579.4297,23479.4316,23359.4355,24499.4082,25319.3867,26199.3652,26179.3652,26039.3691,26159.3672,25819.375,25599.7246,26799.7109,26479.7148,27199.707,28059.6973,27419.7051,27419.7051,26999.709,26059.7188,24929.7305,26439.7148,27959.6992,28719.6895,28579.6914,28360.0,29420.0,29680.0,30000.0,30100.0,29520.0,31060.0,31958.8279,31678.2343,32589.3367,35328.8347,33101.8188,33740.0,33900.0,33400.0,32200.0,31040.0],"consensus":[-31.9356,-53.993,-48.467,-8.3553,-72.5781,-38.975,-40.4168,-63.7348,-17.7775,-58.8568,-26.3043,-56.3412,-79.4778,-73.3868,-25.2801,-40.7268,-27.5396,0.0,0.0,-50.7207,-13.064,-28.4428,0.0,13.8818,31.7223,61.5313,0.0,67.8508,55.3613,56.641,43.9512,79.1953,20.867,62.7127,0.0,22.9894,0.0,-39.4094,18.6854,0.0,40.3073,0.0,20.5349,-44.8608,14.3442,43.5921,0.0,29.6932,0.0,-34.1993,-58.5462,-60.1603,19.1421,-28.1543,0.0,73.3282,82.0773,32.6411,24.5735,33.4907,44.226,22.3885,-13.0285,0.0,0.0,0.0,42.872,43.47,49.7566,25.2418,25.3372,29.5724,0.0,-9.9585,53.8366,0.0,48.2925,60.836,8.2017,23.8745,0.0,-35.4278,-54.1499,22.2758,52.8966,56.3771,36.249,22.6941,60.5635,21.4678,23.253,31.8467,0.0,47.2861,55.2045,31.0293,53.9977,69.9731,16.946,47.1417,33.1075,0.0,-29.0192,51.6071],"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":[29.4312,-27.0897,0.0,73.2385,85.9243,38.8843,8.6673,27.8929,48.5963,16.1387,-14.0094,0.0,0.0,0.0,48.3181,34.4938,43.213,16.2243,21.0004,31.9469,0.0,-7.9273,63.9522,0.0,56.0607,57.8,1.5621,21.4093,0.0,-34.6843,-52.99,37.9942,59.976,57.9248,41.5144,17.6753,57.755,12.3076,12.4202,27.6505,0.0,50.1538,60.5514,26.6194,57.0038,80.6371,9.505,40.378,28.2105,0.0,-28.2939,43.7079],"force":[73.3114,-29.4357,0.0,98.1967,97.6627,17.5783,0.1801,12.7078,53.0673,0.3546,-46.7847,0.0,0.0,0.0,47.827,54.75,54.3642,3.2353,5.6109,13.7548,0.0,-35.3493,58.377,0.0,41.4778,75.9118,17.4992,14.3079,0.0,-46.0603,-63.5822,44.7578,65.1055,62.5684,10.1455,3.1857,80.6572,1.0548,1.9515,10.5595,0.0,33.8273,39.8418,1.9827,37.0258,51.6087,21.0729,42.5646,11.8711,0.0,-58.7682,79.1488],"direction":[31.3092,-28.4558,0.0,55.6674,66.5485,61.377,60.1758,54.7332,32.9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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":"Broadly stable","forceState":"Upward commitment","forcePath":"Commitment is strengthening","directionState":"Upward follow-through","persistenceState":"Unsettled","confirmationState":"Strong support","riskState":"Contained","intensityState":"Elevated"},"cards":[{"label":"SM Consensus Gauge","value":"+51.6","detail":"Market Dynamics has stronger support","tone":"positive"},{"label":"SM Control Gauge","value":"+43.7","detail":"Buyer control supports the view","tone":"positive"},{"label":"SM Force Gauge","value":"+79.1","detail":"Upward 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