{"schema_version":"1.0","name":"AVTM Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"2216f9eb-5931-49b7-a5ed-e6f5167ea259","symbol":"AVTM","name":"AVANTIS TOTAL EQUITY MARKETS ETF","exchange":"NYSEARCA","country":"US","asset_type":"etf","currency":"USD","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, Activity pressure and cumulative balance, Directional strength and control, Range pressure and compression, Range position and boundary pressure, Acceleration, deceleration and rollover."},{"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":29,"displayedObservations":29,"assetType":"ETF","state":"Aligned upward","stateTone":"positive","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":["2026-08-21"],"values":[0.0608],"opens":[56.44],"highs":[56.44],"lows":[55.3202],"closes":[55.5898],"hoverRows":[[{"label":"Open","value":"56.4","className":"is-ohlc","compact":true},{"label":"High","value":"56.4","className":"is-ohlc","compact":true},{"label":"Low","value":"55.3","className":"is-ohlc","compact":true},{"label":"Close","value":"55.6","className":"is-ohlc","compact":true},{"label":"Market 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":[54.4698,56.7098],"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":21,"summary":"More completed weekly history is needed for a dependable ticker-level record."},"events":{"positioning_recoveries":[],"reversal_warnings":[],"reversal_dangers":[]}},"smTape":{"available":true,"dates":["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":[49.9081,49.2312,49.7946,49.4415,48.0491,47.2193,46.351,45.6424,47.3493,49.018,51.0707,51.2578,51.8431,52.807,52.594,53.1969,53.9051,53.2848,53.905,54.3727,53.3993,53.9973,54.5683,53.7609,53.5328,53.972,56.02,56.4083,55.5898],"consensus":[99.2587,-84.4263,66.1537,-8.6547,-68.6288,-60.9866,-65.44,-68.6978,13.2922,49.4601,74.662,54.4532,57.7719,74.892,25.9446,66.0463,62.7748,0.0,55.6299,41.574,-15.1615,35.2631,58.6724,-10.2019,0.0,25.3748,72.6271,45.8793,10.5478],"supportDates":["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,-64.7425,-70.2468,-68.6294,23.5602,46.0205,72.0607,55.948,55.8647,72.0341,15.8345,64.1557,68.1102,0.0,53.3168,38.1789,-17.0306,35.2048,63.0335,-12.7294,0.0,28.711,79.3172,36.0572,3.9835],"force":[99.2587,-84.4263,66.1537,-8.6547,-46.242,-44.1407,-45.5536,-59.5416,66.7529,63.8068,82.8471,28.4366,39.6067,78.1237,15.3955,61.9986,52.615,0.0,58.6461,26.2447,-64.2106,23.3882,68.1924,-39.6929,0.0,27.3176,85.9252,41.8812,21.9138],"direction":[null,null,null,null,-84.6194,-68.7268,-74.1512,-75.316,36.6288,43.1434,71.7885,71.3282,72.9268,75.8498,67.0277,71.0983,63.9341,0.0,56.1191,56.4035,-22.0098,43.8118,46.8883,-13.7516,0.0,20.1743,55.4826,59.9602,50.3418],"intensity":[null,null,null,null,100.0,80.0,83.3333,57.1429,100.0,88.8889,100.0,90.9091,41.6667,61.5385,35.7143,20.0,68.75,52.9412,22.2222,73.6842,65.0,14.2857,13.6364,43.4783,8.3333,40.0,96.1538,81.4815,46.4286],"confirmation":[54.4294,49.6831,43.8359,25.4362,66.2712,86.9451,88.2615,89.7053,36.2071,84.3169,92.1809,84.6094,85.9625,92.1075,33.1475,89.0403,87.697,8.8375,85.9287,80.8882,33.6801,78.9232,86.9988,29.7252,4.9965,76.1283,91.544,82.7092,8.1322],"persistence":[null,null,33.3333,0.0,20.0,33.3333,42.8571,50.0,50.0,25.0,25.0,0.0,25.0,50.0,75.0,100.0,100.0,87.5,87.5,87.5,62.5,62.5,62.5,37.5,25.0,37.5,37.5,37.5,62.5],"assessmentRisk":[null,null,null,null,15.1845,19.3114,17.2789,15.651,38.5419,21.8726,12.6289,22.7676,21.0838,12.4604,31.6271,14.4228,16.6434,19.3832,16.9101,23.8956,19.0464,18.2366,7.0836,32.8371,11.8767,14.7246,11.3703,26.9618,44.0958],"volumeParticipation":true,"latest":{"consensus":10.5,"control":4.0,"force":21.9,"direction":50.3,"confirmation":8.1,"persistence":62.5,"assessmentRisk":44.1,"intensity":46.4,"evidenceDepth":100},"analysis":{"status":"Price structure has the available support","headline":"The gauges support the price-technical view","summary":"Market Dynamics does not provide a directional confirmation. The completed evidence supports the upward price structure.","take":"Current assessment: follow price structure with limited confirmation.","tone":"positive","supportedView":"Price structure","direction":"upward","disagreement":false},"support":{"window":"Latest 12 months","controlState":"Control support is limited","controlPath":"Broadly stable","forceState":"Upward commitment","forcePath":"Commitment is strengthening","directionState":"Upward follow-through","persistenceState":"Developing","confirmationState":"Limited support","riskState":"Present","intensityState":"Normal"},"cards":[{"label":"SM Consensus Gauge","value":"+10.5","detail":"Price structure has the available support","tone":"positive"},{"label":"SM Control Gauge","value":"+4.0","detail":"Control support is limited","tone":"positive"},{"label":"SM Force Gauge","value":"+21.9","detail":"Upward commitment","tone":"positive"},{"label":"SM Direction Gauge","value":"+50.3","detail":"Upward follow-through","tone":"positive"},{"label":"SM Confirmation Gauge","value":"8/100","detail":"Limited support","tone":"caution"}]},"kpis":[{"label":"Price structure","value":"Aligned upward","detail":"completed-week alignment","tone":"positive"},{"label":"Momentum","value":"58.2","detail":"Positive","tone":"positive"},{"label":"Risk pressure","value":"2.3%","detail":"Contained","tone":"neutral"},{"label":"Trend quality","value":"35.5","detail":"Directional","tone":"positive"},{"label":"Range position","value":"87%","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 and its trend references are aligned upward.","series":[{"label":"Close","values":[49.9081,49.2312,49.7946,49.4415,48.0491,47.2193,46.351,45.6424,47.3493,49.018,51.0707,51.2578,51.8431,52.807,52.594,53.1969,53.9051,53.2848,53.905,54.3727,53.3993,53.9973,54.5683,53.7609,53.5328,53.972,56.02,56.4083,55.5898],"stroke":"#10243b","width":2.1},{"label":"Fast trend","values":[null,null,null,null,49.4194,49.0194,48.5343,48.0085,47.8886,48.094,48.6352,49.112,49.6086,50.1901,50.6272,51.0944,51.6054,51.9108,52.2734,52.6551,52.7904,53.0098,53.2932,53.3782,53.4063,53.5092,53.9657,54.4098,54.6243],"stroke":"#176fa3","width":1.7},{"label":"Slow trend","values":[null,null,null,null,null,null,null,null,null,null,null,null,49.4118,49.6633,49.8804,50.126,50.406,50.6192,50.8626,51.1226,51.2912,51.4917,51.7196,51.8708,51.9939,52.1404,52.4278,52.7227,52.935],"stroke":"#07865c","width":1.8},{"label":"Upper envelope","values":[null,null,null,null,null,null,null,null,null,51.0572,51.6461,52.113,52.6249,53.2881,53.7215,54.202,54.7459,55.0435,55.402,55.7828,56.0953,56.4742,56.9052,57.1706,57.3056,57.3421,57.4324,57.1576,56.8029],"stroke":"#98a9b8","width":1.0,"dash":[6,5]},{"label":"Lower envelope","values":[null,null,null,null,null,null,null,null,null,45.3437,45.2767,45.2758,45.2483,45.138,45.1555,45.1448,45.0986,45.1747,45.2157,45.2413,45.278,45.3757,45.422,45.5886,46.0019,46.6408,47.5173,48.8687,50.0474],"stroke":"#98a9b8","width":1.0,"dash":[6,5]}],"guides":[],"dates":["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":"participation","eyebrow":"Participation","title":"Activity 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,58.2965,78.4333,38.8517,65.6903,27.4308,46.2045,126.406,163.9037,138.5478,84.0364,59.1886,154.2637,95.4971,104.9267,39.1732,623.8529,25.9718,71.4612,71.212,77.5642,195.5701,8.4172],"stroke":"#1678a7","width":1.8},{"label":"Cumulative balance","values":[null,null,null,null,null,null,null,65.0,69.1329,71.0499,74.1836,75.4112,77.3902,82.9166,75.4081,81.9225,85.8347,83.1438,90.3752,94.8411,89.8579,91.6396,131.7969,130.1261,126.1258,130.1835,134.6235,135.0,134.6221],"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],"stroke":"#8fa0af","width":1.0,"dash":[6,5]}],"dates":["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,35.5267,35.9767,35.5434],"stroke":"#10243b","width":2.0},{"label":"Positive direction","values":[null,null,null,null,null,null,null,null,null,null,null,null,null,23.3766,24.8991,23.4712,26.083,28.305,25.9296,28.376,26.7213,25.1929,24.91,23.5934,22.4285,20.5188,28.8969,33.1946,31.0885],"stroke":"#07865c","width":1.6},{"label":"Negative direction","values":[null,null,null,null,null,null,null,null,null,null,null,null,null,10.6867,10.0449,10.0889,9.7057,8.8777,11.6363,11.017,12.6408,11.9178,11.4523,12.052,13.0831,16.376,14.5033,13.6152,16.7731],"stroke":"#c13f3f","width":1.6}],"guides":[],"dates":["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":"volatility","eyebrow":"Risk geometry","title":"Range pressure and compression","description":"Movement pressure and envelope width show whether risk is expanding, settling or compressed.","reason":"Selected because current variability is unusually compressed or expanded versus this ticker's own tape.","series":[{"label":"Range pressure","values":[null,null,null,null,null,null,null,null,null,null,null,null,null,2.6848,2.6631,2.5935,2.4705,2.5372,2.5422,2.4719,2.4819,2.4173,2.3115,2.3002,2.2564,2.2716,2.2946,2.2541,2.2678],"stroke":"#c13f3f","width":1.9},{"label":"Envelope width","values":[null,null,null,null,null,null,null,null,null,11.8536,13.1433,14.0409,15.0738,16.5609,17.3265,18.2335,19.3246,19.6945,20.2475,20.8693,21.3415,21.794,22.4441,22.5419,21.8836,20.5828,18.8951,15.6355,12.6448],"stroke":"#b87806","width":1.7}],"guides":[],"dates":["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":"range","eyebrow":"Acceptance map","title":"Range position and boundary pressure","description":"Price location inside its observed range shows whether the 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,0.0,37.8812,72.3921,100.0,100.0,96.3267,99.1745,89.3035,96.9131,100.0,84.1586,90.879,95.4995,85.0017,91.4509,97.609,88.9014,86.4414,91.1781,99.9049,93.9469,86.8862],"stroke":"#10243b","width":2.0},{"label":"From high","values":[null,null,null,null,null,null,null,-9.3551,-5.9652,-2.6512,0.0,0.0,-0.4631,-0.1148,-1.586,-0.4577,0.0,-2.6705,-1.5376,-0.7616,-2.5382,-1.4468,-0.4046,-1.8783,-2.2946,-1.493,-0.0178,-1.2287,-2.6619],"stroke":"#c13f3f","width":1.5},{"label":"From 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