{"schema_version":"1.0","name":"BNEH Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"150c4238-d151-4a37-a0c7-82d750205519","symbol":"BNEH","name":"iShares S&P U.S. Banks UCITS ETF EUR Hedged Acc","exchange":"AMS","country":"NL","asset_type":"etf","currency":"EUR","sector":null,"industry":null},"summary":"The completed price path and its progression through the positioning zones can be described, but there is not enough usable Market Dynamics history to confirm or challenge the technical state.","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, Completed returns and cumulative progression, Range expansion and closing direction, Activity pressure and cumulative balance, Range pressure and compression, Range position and boundary 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":"2026-08-21","observations":23,"displayedObservations":23,"assetType":"ETF","state":"Rotational","stateTone":"caution","summary":"The completed price path and its progression through the positioning zones can be described, but there is not enough usable Market Dynamics history to confirm or challenge the technical state.","evidenceAlignment":{"status":"Evidence developing","headline":"Price structure is visible; Market Dynamics is not yet established","summary":"The completed price path and its progression through the positioning zones can be described, but there is not enough usable Market Dynamics history to confirm or challenge the technical state.","take":"Treat movement through the zones as price-location context only. Reaching the upper zone shows extension, but without an established Market Dynamics read it does not by itself establish active distribution, divergence or reversal risk.","tone":"neutral","conflict":false},"marketDynamics":{"available":true,"readAvailable":false,"dates":["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"],"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],"opens":[4.708,4.708,4.708,4.595,4.7565,4.8955,4.9195,4.8875,4.752,4.664,4.73,4.887,4.9905,4.9905,5.277,5.229,5.264,5.433,5.354,5.346,5.337,5.352,5.448],"highs":[4.708,4.708,4.708,4.789,4.911,4.977,4.9195,4.8875,4.7525,4.73,4.805,4.9215,4.9905,4.9905,5.277,5.23,5.296,5.433,5.354,5.346,5.467,5.482,5.458],"lows":[4.708,4.708,4.708,4.5925,4.7565,4.8955,4.8095,4.8045,4.7095,4.6315,4.73,4.887,4.9905,4.9905,5.239,5.229,5.264,5.398,5.284,5.261,5.337,5.352,5.211],"closes":[4.708,4.708,4.708,4.7565,4.8955,4.9195,4.8875,4.7925,4.7095,4.73,4.777,4.9215,4.9905,4.9905,5.239,5.23,5.296,5.398,5.324,5.264,5.459,5.448,5.211],"hoverRows":[[{"label":"Open","value":"4.71","className":"is-ohlc","compact":true},{"label":"High","value":"4.71","className":"is-ohlc","compact":true},{"label":"Low","value":"4.71","className":"is-ohlc","compact":true},{"label":"Close","value":"4.71","className":"is-ohlc","compact":true},{"label":"Market 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Dynamics","value":"Unavailable","note":"Insufficient completed history","className":"is-muted","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}]],"pressureRange":[-2.3,2.3],"priceRange":[4.66294,5.50406],"zones":{"accumulationBoundary":-1.5,"accumulationDarkBoundary":-2.0,"distributionBoundary":1.5,"distributionDarkBoundary":2.0},"state":"Insufficient history","context":{"scenario":"developing","latestDirection":"steady","fourWeekDirection":"steady","now":{"label":"Little changed this week","detail":"Market Dynamics remains positive and was little changed this week."},"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":"Zone progression","detail":"Price is travelling between the lower accumulation area and the upper positioning zone. Market Dynamics history is not yet sufficient to confirm or challenge that progression.","tone":"neutral"},"chartSummary":"Price is between the outer positioning zones. The Market Dynamics bars show whether underlying support is strengthening or weakening.","summary":"Price is travelling between the lower accumulation area and the upper positioning zone. Market Dynamics history is not yet sufficient to confirm or challenge that progression.","annotations":[{"label":"Current tape relationship","value":"Zone progression","detail":"Market Dynamics remains positive and was little changed this week.","tone":"neutral"},{"label":"Price location","value":"Between zones","detail":"Price is progressing between the lower and upper positioning zones while the Market Dynamics read develops.","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":"Unavailable","detail":"Too little usable Market Dynamics history is available for a directional confirmation read.","tone":"neutral"}],"relationshipEvidence":{"available":false,"observations":23,"summary":"More completed weekly history is needed for a dependable ticker-level record."},"events":{"positioning_recoveries":[],"reversal_warnings":[{"date":"2026-06-12","price":4.9905},{"date":"2026-06-26","price":5.239}],"reversal_dangers":[{"date":"2026-06-19","price":4.9905},{"date":"2026-07-03","price":5.23}]}},"smTape":{"available":true,"dates":["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":[4.708,4.708,4.708,4.7565,4.8955,4.9195,4.8875,4.7925,4.7095,4.73,4.777,4.9215,4.9905,4.9905,5.239,5.23,5.296,5.398,5.324,5.264,5.459,5.448,5.211],"consensus":[0.0,0.0,0.0,66.9211,98.3272,66.7218,32.1092,-17.7581,-77.7929,0.0,17.7524,84.7507,59.9915,45.4524,50.1849,58.3087,81.321,47.03,22.6494,0.0,85.8,45.1447,-43.5924],"supportDates":["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,54.5575,15.3838,-33.0164,-77.2901,0.0,31.2715,84.8537,55.2246,36.0318,33.4125,57.8892,83.706,31.7147,18.1202,0.0,88.6567,52.4573,-39.9592],"force":[0.0,0.0,0.0,66.9211,95.9859,52.6881,11.1603,-58.8236,-86.6558,0.0,47.0219,93.5507,36.2858,10.4392,22.1763,17.9917,76.9586,20.6223,41.7709,0.0,96.4126,8.7306,-97.5796],"direction":[null,null,null,null,99.9997,90.648,82.1309,-29.0125,-72.0371,0.0,18.6047,78.3474,82.3722,81.2283,89.3595,87.586,81.7112,83.3957,73.8401,0.0,74.9548,62.7977,-9.1825],"intensity":[null,null,null,null,100.0,80.0,50.0,57.1429,75.0,33.3333,60.0,90.9091,58.3333,23.0769,100.0,26.6667,31.25,76.4706,61.1111,26.3158,95.0,19.0476,95.4545],"confirmation":[0.0,0.0,0.0,44.0814,76.691,89.1087,34.2587,35.5576,93.1715,34.6563,33.0025,95.3869,86.5475,81.6213,83.4611,85.4365,93.8534,82.4782,36.9313,34.1655,95.7359,81.2251,55.0],"persistence":[null,null,0.0,25.0,40.0,50.0,57.1429,37.5,25.0,25.0,37.5,37.5,37.5,37.5,37.5,62.5,87.5,100.0,100.0,87.5,87.5,87.5,62.5],"assessmentRisk":[null,null,null,null,0.7015,16.6117,33.8057,33.4737,10.6143,47.2158,55.7609,4.7948,19.967,27.2231,24.9037,20.7297,9.2135,26.4745,24.6103,13.8007,3.6403,2.199,14.8406],"volumeParticipation":true,"latest":{"consensus":-43.6,"control":-40.0,"force":-97.6,"direction":-9.2,"confirmation":55.0,"persistence":62.5,"assessmentRisk":14.8,"intensity":95.5,"evidenceDepth":88},"analysis":{"status":"Completed tape has stronger support","headline":"The gauges support the downward view","summary":"The completed evidence gives the downward view the clearer support.","take":"Current assessment: downward pressure has the stronger support.","tone":"negative","supportedView":"Completed tape","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":"Follow-through is limited","persistenceState":"Developing","confirmationState":"Qualified support","riskState":"Contained","intensityState":"Elevated"},"cards":[{"label":"SM Consensus Gauge","value":"-43.6","detail":"Completed tape has stronger support","tone":"negative"},{"label":"SM Control Gauge","value":"-40.0","detail":"Seller control supports the view","tone":"negative"},{"label":"SM Force Gauge","value":"-97.6","detail":"Downward commitment","tone":"negative"},{"label":"SM Direction Gauge","value":"-9.2","detail":"Follow-through is limited","tone":"negative"},{"label":"SM Confirmation Gauge","value":"55/100","detail":"Qualified support","tone":"neutral"}]},"kpis":[{"label":"Price structure","value":"Rotational","detail":"completed-week alignment","tone":"caution"},{"label":"Momentum","value":"58.4","detail":"Positive","tone":"positive"},{"label":"Risk pressure","value":"1.9%","detail":"Elevated","tone":"caution"},{"label":"Trend quality","value":"-","detail":"Developing","tone":"neutral"},{"label":"Range position","value":"70%","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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BNEH Technical Research Pack, completed week 2026-08-21, https://sharemaestro.com/terminal/150c4238-d151-4a37-a0c7-82d750205519/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."}