{"schema_version":"1.0","name":"HEQQ Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"1efdfabf-891c-436a-95bf-462ca2eb2738","symbol":"HEQQ","name":"JPM Nasdaq Hedged Equity Laddered Overlay Active UCITS ETF - USD (acc)","exchange":"GER","country":"DE","asset_type":"etf","currency":"EUR","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, Directional strength and control, Activity pressure and cumulative balance, Range position and boundary pressure, Acceleration, deceleration and rollover, 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":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":[1.008787,1.292563,1.260892,1.237287,1.233916,1.252127,1.117947,0.92267,0.625869,0.334423,0.17434,0.052526],"opens":[22.514999,22.18,23.049999,22.92,22.834999,22.895,22.485001,22.58,22.674999,22.415001,22.82,23.030001],"highs":[22.584999,22.450001,23.049999,22.92,22.885,22.969999,22.565001,22.885,22.73,22.865,23.035,23.030001],"lows":[22.495001,22.18,23.02,22.735001,22.834999,22.895,22.385,22.530001,22.01,22.355,22.754999,22.4],"closes":[22.584999,22.450001,23.025,22.875,22.885,22.969999,22.565001,22.615,22.280001,22.780001,22.915001,22.44],"hoverRows":[[{"label":"Open","value":"22.5","className":"is-ohlc","compact":true},{"label":"High","value":"22.6","className":"is-ohlc","compact":true},{"label":"Low","value":"22.5","className":"is-ohlc","compact":true},{"label":"Close","value":"22.6","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":"22.2","className":"is-ohlc","compact":true},{"label":"High","value":"22.5","className":"is-ohlc","compact":true},{"label":"Low","value":"22.2","className":"is-ohlc","compact":true},{"label":"Close","value":"22.5","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"1.29","note":"Supportive and strengthening","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"23.0","className":"is-ohlc","compact":true},{"label":"High","value":"23.0","className":"is-ohlc","compact":true},{"label":"Low","value":"23.0","className":"is-ohlc","compact":true},{"label":"Close","value":"23.0","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"1.26","note":"Supportive but easing","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"22.9","className":"is-ohlc","compact":true},{"label":"High","value":"22.9","className":"is-ohlc","compact":true},{"label":"Low","value":"22.7","className":"is-ohlc","compact":true},{"label":"Close","value":"22.9","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"1.24","note":"Supportive but easing","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"22.8","className":"is-ohlc","compact":true},{"label":"High","value":"22.9","className":"is-ohlc","compact":true},{"label":"Low","value":"22.8","className":"is-ohlc","compact":true},{"label":"Close","value":"22.9","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"1.23","note":"Supportive but easing","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"22.9","className":"is-ohlc","compact":true},{"label":"High","value":"23.0","className":"is-ohlc","compact":true},{"label":"Low","value":"22.9","className":"is-ohlc","compact":true},{"label":"Close","value":"23.0","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"1.25","note":"Supportive and strengthening","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"22.5","className":"is-ohlc","compact":true},{"label":"High","value":"22.6","className":"is-ohlc","compact":true},{"label":"Low","value":"22.4","className":"is-ohlc","compact":true},{"label":"Close","value":"22.6","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"1.12","note":"Supportive but easing","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"22.6","className":"is-ohlc","compact":true},{"label":"High","value":"22.9","className":"is-ohlc","compact":true},{"label":"Low","value":"22.5","className":"is-ohlc","compact":true},{"label":"Close","value":"22.6","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.92","note":"Supportive but easing","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"22.7","className":"is-ohlc","compact":true},{"label":"High","value":"22.7","className":"is-ohlc","compact":true},{"label":"Low","value":"22.0","className":"is-ohlc","compact":true},{"label":"Close","value":"22.3","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.63","note":"Supportive but easing","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"22.4","className":"is-ohlc","compact":true},{"label":"High","value":"22.9","className":"is-ohlc","compact":true},{"label":"Low","value":"22.4","className":"is-ohlc","compact":true},{"label":"Close","value":"22.8","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.33","note":"Supportive but easing","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"22.8","className":"is-ohlc","compact":true},{"label":"High","value":"23.0","className":"is-ohlc","compact":true},{"label":"Low","value":"22.8","className":"is-ohlc","compact":true},{"label":"Close","value":"22.9","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.17","note":"Supportive but easing","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"23.0","className":"is-ohlc","compact":true},{"label":"High","value":"23.0","className":"is-ohlc","compact":true},{"label":"Low","value":"22.4","className":"is-ohlc","compact":true},{"label":"Close","value":"22.4","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.05","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":[22.235301,23.0697],"zones":{"accumulationBoundary":-1.5,"accumulationDarkBoundary":-2.0,"distributionBoundary":1.5,"distributionDarkBoundary":2.0},"latest":0.052526,"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":[20.87,21.295,21.395,20.94,21.13,21.135,21.045,21.52,21.495,21.275,21.18,20.87,20.705,20.955,20.795,21.235,21.215,20.795,20.49,20.67,20.98,21.46,21.775,21.77,22.015,22.385,22.445,22.435,22.585,22.45,23.025,22.875,22.885,22.97,22.565,22.615,22.28,22.78,22.915,22.44],"consensus":[-56.3632,62.2226,100.0,-58.0,31.068,0.0,-21.5592,66.109,30.7309,0.0,0.0,-42.0481,-46.1631,0.0,-33.9632,44.6513,24.8569,-40.2074,-49.2483,0.0,18.6693,55.8706,68.8169,31.7069,61.548,75.4609,55.3194,38.0876,61.3425,31.1264,47.0196,28.0197,48.3772,55.168,0.0,0.0,-45.0897,43.725,35.3231,44.3778],"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,0.0,-23.6559,61.7523,29.4181,0.0,0.0,-29.2603,-44.9124,0.0,-32.6696,46.8144,23.8176,-48.2691,-58.7204,0.0,31.8039,62.4697,68.3093,24.7296,64.1554,79.3464,60.3539,32.051,67.0533,47.5595,39.9246,33.2966,56.1382,62.3733,0.0,0.0,-33.7086,51.3341,36.8013,40.6419],"force":[-56.3632,62.2226,100.0,-58.0,29.228,0.0,-26.8375,87.1782,9.844,0.0,0.0,-56.5577,-35.0043,0.0,-27.3855,52.6572,22.7237,-48.9092,-42.9662,0.0,34.5749,57.4155,85.7882,6.9779,56.3934,80.625,30.3146,8.1747,43.9664,16.5173,28.8073,28.6397,21.9298,33.2127,0.0,0.0,-81.486,74.2659,24.734,87.4717],"direction":[null,null,null,null,32.3823,0.0,-15.3927,56.0385,47.1505,0.0,0.0,-46.2987,-55.5632,0.0,-40.1401,36.4606,27.5683,-24.7784,-42.9104,0.0,7.7029,47.2252,57.2747,57.3447,62.2498,67.3317,67.4262,66.3531,67.2274,46.3768,68.1371,62.4599,58.3986,62.6158,0.0,0.0,-32.0992,13.214,41.1974,17.8659],"intensity":[null,null,null,null,50.0,60.0,16.6667,100.0,12.5,55.5556,30.0,72.7273,91.6667,38.4615,28.5714,80.0,25.0,70.5882,100.0,31.5789,50.0,100.0,86.3636,39.1304,33.3333,60.0,38.4615,11.1111,21.4286,51.7241,100.0,41.9355,15.625,6.0606,97.0588,54.2857,97.2222,91.8919,65.7895,87.1795],"confirmation":[40.7029,42.5779,54.6667,41.2267,55.191,1.197,75.0279,89.8634,77.2173,4.6047,24.2473,82.0924,82.4512,30.9423,78.6875,82.4994,75.905,81.0087,83.4237,34.0012,53.2354,85.8251,90.5464,54.8322,87.4985,92.2457,84.8634,79.3684,87.013,34.4484,82.5994,35.9356,82.5564,84.8749,6.3806,24.8018,83.7113,82.8068,78.9582,83.5712],"persistence":[null,null,33.3333,0.0,20.0,16.6667,0.0,12.5,37.5,25.0,12.5,12.5,12.5,12.5,12.5,12.5,12.5,25.0,37.5,25.0,0.0,12.5,37.5,37.5,37.5,62.5,87.5,100.0,100.0,100.0,100.0,100.0,100.0,100.0,87.5,75.0,50.0,50.0,50.0,25.0],"assessmentRisk":[null,null,null,null,17.8182,25.031,32.2709,15.0355,27.872,21.265,20.794,28.1238,26.6581,45.5297,29.2265,21.4805,36.2483,7.4623,16.0544,51.1988,45.7486,21.0605,15.5756,34.0935,19.1695,12.1473,21.5924,30.295,18.298,3.1311,25.7211,34.2705,19.5024,21.5464,44.5427,43.751,26.5565,51.3237,25.532,4.0304],"volumeParticipation":true,"latest":{"consensus":44.4,"control":40.6,"force":87.5,"direction":17.9,"confirmation":83.6,"persistence":25.0,"assessmentRisk":4.0,"intensity":87.2,"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 strengthening","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":"+44.4","detail":"Market Dynamics has stronger support","tone":"positive"},{"label":"SM Control Gauge","value":"+40.6","detail":"Buyer control supports the view","tone":"positive"},{"label":"SM Force Gauge","value":"+87.5","detail":"Upward commitment","tone":"positive"},{"label":"SM Direction Gauge","value":"+17.9","detail":"Upward follow-through","tone":"positive"},{"label":"SM Confirmation Gauge","value":"84/100","detail":"Strong support","tone":"positive"}]},"kpis":[{"label":"Price structure","value":"Rotational","detail":"completed-week alignment","tone":"caution"},{"label":"Momentum","value":"58.7","detail":"Positive","tone":"positive"},{"label":"Risk pressure","value":"1.8%","detail":"Normal","tone":"neutral"},{"label":"Trend quality","value":"26.4","detail":"Directional","tone":"positive"},{"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 envelope.","reason":"Selected as the anchor because price is rotating through its trend references.","series":[{"label":"Close","values":[20.87,21.295,21.395,20.94,21.13,21.135,21.045,21.52,21.495,21.275,21.18,20.87,20.705,20.955,20.795,21.235,21.215,20.795,20.49,20.67,20.98,21.46,21.775,21.77,22.015,22.385,22.445,22.435,22.585,22.45,23.025,22.875,22.885,22.97,22.565,22.615,22.28,22.78,22.915,22.44],"stroke":"#10243b","width":2.1},{"label":"Fast trend","values":[null,null,null,null,21.0339,21.0523,21.051,21.1362,21.2015,21.2148,21.2085,21.147,21.0666,21.0463,21.0006,21.0432,21.0745,21.0237,20.9266,20.88,20.8982,21.0003,21.1412,21.2555,21.3936,21.5738,21.7322,21.86,21.9918,22.0751,22.2478,22.3619,22.457,22.5503,22.5529,22.5642,22.5125,22.5612,22.6255,22.5918],"stroke":"#176fa3","width":1.7},{"label":"Slow trend","values":[null,null,null,null,null,null,null,null,null,null,null,null,21.0322,21.0265,21.0093,21.0261,21.0401,21.0219,20.9825,20.9594,20.9609,20.9979,21.0554,21.1084,21.1755,21.2651,21.3525,21.4327,21.518,21.5871,21.6936,21.7811,21.8629,21.9449,21.9908,22.0371,22.055,22.1087,22.1685,22.1886],"stroke":"#07865c","width":1.8},{"label":"Upper envelope","values":[null,null,null,null,null,null,null,null,null,21.6346,21.6125,21.6096,21.6273,21.6062,21.597,21.5935,21.5874,21.5801,21.6098,21.6043,21.6047,21.6317,21.7155,21.8198,21.9651,22.1873,22.3885,22.5391,22.7097,22.8438,23.0868,23.256,23.3886,23.5261,23.5656,23.6242,23.6372,23.6487,23.5838,23.4356],"stroke":"#98a9b8","width":1.0,"dash":[6,5]},{"label":"Lower envelope","values":[null,null,null,null,null,null,null,null,null,20.7854,20.802,20.7487,20.658,20.6524,20.617,20.6365,20.6543,20.6254,20.5313,20.4967,20.5073,20.4968,20.451,20.4297,20.3729,20.2757,20.2145,20.1554,20.0938,20.0772,20.0187,20.05,20.1354,20.1994,20.3369,20.4163,20.5098,20.6968,21.0042,21.3294],"stroke":"#98a9b8","width":1.0,"dash":[6,5]}],"guides":[],"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"]},{"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,36.3105,37.4067,38.4937,37.9234,38.5311,37.9981,37.5032,37.2161,35.1902,34.0308,31.6264,29.6525,28.2012,26.3887],"stroke":"#10243b","width":2.0},{"label":"Positive direction","values":[null,null,null,null,null,null,null,null,null,null,null,null,null,4.886,6.4331,8.704,8.6538,7.9412,7.498,7.2173,12.4013,19.0922,23.571,24.1884,25.9874,30.8966,31.2246,31.8025,31.6429,29.0213,37.308,35.1707,34.8005,36.0331,31.6047,35.9566,30.9335,30.0777,31.7063,28.0883],"stroke":"#07865c","width":1.6},{"label":"Negative 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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,349.8843,156.1118,105.9397,7.7788,82.9071,11.9558,0.0,7.3021,3.885,49.4035,0.0283,5.2709,91.9585,13.4775,0.0,80.4044,319.3074,23.0178,44.7164,10.2527,102.6057,22.165,955.7611,0.0,48.3738,0.0,5.5518,25.7178,249.8227,324.0421,186.7229,10.0702,130.9397],"stroke":"#1678a7","width":1.8},{"label":"Cumulative balance","values":[null,null,null,null,null,null,null,106.7974,86.7414,73.0408,72.1197,65.0,65.0,65.0,65.0,65.3058,65.0,65.0,65.0,70.6505,71.4774,71.4774,76.4756,65.0,66.1433,68.4151,68.8704,65.5142,66.1035,65.0,65.0,65.0,65.0,65.1011,65.0,70.1696,65.0,69.5937,69.8422,66.5192],"stroke":"#07865c","width":1.7}],"guides":[{"label":"Typical 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because the latest impulse is unusually active or is approaching a change of 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HEQQ Technical Research Pack, completed week 2026-08-21, https://sharemaestro.com/terminal/1efdfabf-891c-436a-95bf-462ca2eb2738/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."}