{"schema_version":"1.0","name":"IGG Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-14","ticker":{"uuid":"248f4f73-b630-4cf0-b1aa-6bd3f73deeab","symbol":"IGG","name":"IG Group Holdings plc","exchange":"LSE","country":"GB","asset_type":"equity","currency":"GBP","sector":"Financial Services","industry":"Capital Markets"},"summary":"Market Dynamics weakened this week and remains below zero. Underlying support has contracted across the recent completed path. Price structure remains rotational.","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, Activity pressure and cumulative balance, Drawdown and recovery pressure, 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":"2026-08-14","observations":260,"displayedObservations":104,"assetType":"Equity","state":"Rotational","stateTone":"caution","summary":"Market Dynamics weakened this week and remains below zero. Underlying support has contracted across the recent completed path. Price structure remains rotational.","evidenceAlignment":{"status":"Underlying support lags price","headline":"Market Dynamics is weaker than the current price position","summary":"Market Dynamics weakened this week and remains below zero. Underlying support has contracted across the recent completed path. Price structure remains rotational.","take":"This is a downside risk watch, not a completed reversal. 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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 evidence"}],"path":[{"week":0,"sample":0},{"week":1,"sample":0},{"week":2,"sample":0},{"week":3,"sample":0},{"week":4,"sample":0},{"week":5,"sample":0},{"week":6,"sample":0},{"week":7,"sample":0},{"week":8,"sample":0},{"week":9,"sample":0},{"week":10,"sample":0},{"week":11,"sample":0},{"week":12,"sample":0},{"week":13,"sample":0},{"week":14,"sample":0},{"week":15,"sample":0},{"week":16,"sample":0},{"week":17,"sample":0},{"week":18,"sample":0},{"week":19,"sample":0},{"week":20,"sample":0},{"week":21,"sample":0},{"week":22,"sample":0},{"week":23,"sample":0},{"week":24,"sample":0},{"week":25,"sample":0},{"week":26,"sample":0}]},"currentApplication":{"status":"Underlying support lags price","tone":"caution","headline":"Price is leading its underlying support","use":"Market Dynamics must catch up or price may correct toward the weaker underlying position.","confirm":"This is a downside risk watch, not a completed reversal. Stronger Market Dynamics or weaker price is needed to close the gap.","invalidate":"Reassess the reading when either price structure or the Market Dynamics state changes materially.","level":"negative","direction":"weakening","zone":"middle","zoneContext":"Price has advanced further through its recent range than Market Dynamics. The gap is an early-downside risk watch; stronger underlying support or a price reset is needed to close it.","historical":{"label":"Broad directional cases","weeks":12,"direction":"lower","percent":35.3,"averageReturn":3.0,"sample":17},"nowContext":{"label":"Easier this week","detail":"Market Dynamics weakened this week and remains below zero."},"fourWeekContext":{"label":"Weakened over four weeks","detail":"Underlying support has contracted across the recent completed path."},"priceContext":{"label":"Price is ahead of the underlying support","detail":"Price is extended relative to Market Dynamics. The gap is a downside-risk warning until support catches up or price resets."}},"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, 35.3% of comparable cases moved lower after 12 weeks, with an average move of 3.0% across 17 cases.","watch":"Reassess the reading when either price structure or the Market Dynamics state changes materially."},{"eyebrow":"Zone positioning","title":"Use accumulation to prepare the long case, then wait for confirmation","tone":"positive","finding":"After accumulation, 0.0% of completed 12-week outcomes were higher across 3 cases. Distinct visits lasted 11.3 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 6.0% across 17 completed cases, with the largest move arriving after 4.8 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":1786.713}],"price_pressure_gaps":[]}},"smTape":{"available":true,"dates":["2024-08-16","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","2026-03-13","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":[963.5734,976.0613,971.0662,958.5782,969.0681,911.9377,917.934,921.9315,919.4331,950.4139,926.4288,898.4459,915.4355,926.9284,935.4232,956.91,965.9044,966.9038,975.3986,987.3912,996.3856,986.3918,1053.3505,1014.3745,1018.5104,995.5215,967.0352,951.5426,951.5426,936.0501,950.5431,949.0438,954.5412,914.0607,984.5268,1030.5046,1059.4908,1074.4835,1088.4768,1114.4644,1127.4581,1121.4609,1075.483,1065.4879,1053.4937,1067.4869,1058.4912,1078.4817,1073.484,1130.4565,1125.4591,1138.4528,1137.4532,1152.446,1129.4572,1137.4532,1156.4441,1073.802,1051.806,1070.8026,1074.8018,1062.8041,1111.795,1113.7947,1111.795,1086.7996,1032.8096,1134.7908,1153.7872,1152.7875,1301.76,1311.7582,1305.7593,1318.7568,1327.7551,1359.7493,1351.7507,1350.751,1368.7476,1361.7489,1300.7601,1356.7499,1449.7327,1413.7394,1443.7338,1478.2274,1519.7197,1508.7218,1520.5,1528.0,1533.0,1850.0,1795.0,1839.0,1938.0,1895.0,1826.0,1863.0,1786.713,1724.3857,1686.7915,1444.4079,1328.6575,1363.0],"consensus":[73.5695,54.2671,30.1679,22.3133,31.4715,-43.6328,0.0,0.0,-9.5464,47.3324,-17.2466,-37.2178,12.9728,0.0,16.6359,49.3546,35.3171,29.0994,39.8581,41.9983,43.5542,0.0,73.1081,-8.4459,28.5595,-14.9412,-45.3742,-36.7602,-19.7352,-43.421,0.0,-10.4633,0.0,-53.6076,46.955,55.8289,61.3181,51.6918,39.6008,62.8809,47.0553,27.2262,-18.9742,-13.4052,-22.9904,10.294,-9.9926,23.3942,0.0,59.2764,28.9068,39.8052,24.9999,44.5624,-13.094,25.0261,38.946,-59.122,-51.8151,-8.5306,-18.402,-27.559,43.6111,16.6129,12.1439,-16.5758,-62.0243,52.0209,39.7559,26.6269,78.0457,52.1628,32.3308,42.5618,43.4209,61.3115,33.4339,29.8541,45.5182,17.6324,-36.3664,45.6995,69.6477,0.0,51.9767,61.865,60.8223,24.429,42.3241,28.9309,31.8352,81.8437,14.3073,40.5882,63.4268,28.4081,12.8151,50.4436,0.0,-39.2902,-37.0539,-77.0984,-79.3515,-22.6011],"supportDates":["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","2026-03-13","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":[19.3008,54.1756,-16.2581,29.8334,44.6037,-50.0199,-52.3513,-2.164,-8.6595,-29.3695,45.3455,13.0804,8.418,-23.5922,-54.5097,50.1168,41.7689,23.6005,76.7871,53.8294,21.8468,34.0532,47.4687,64.4527,30.8,27.0407,46.0226,18.5136,-30.15,50.1461,66.9012,0.0,52.3337,67.5969,65.7083,15.782,42.8219,21.8512,37.6157,79.3346,0.688,28.8594,64.4888,24.9021,4.3204,63.9168,0.0,-33.1951,-33.3399,-70.5143,-76.8489,-12.8222],"force":[5.5617,34.9521,-54.141,25.7673,35.5156,-94.076,-50.272,-21.456,-4.3041,-20.3522,65.944,12.3177,6.3991,-27.1924,-87.3775,89.7889,37.788,10.8175,97.5933,28.0958,0.543,21.9112,20.2607,55.2622,2.7452,4.2344,34.1374,10.9212,-84.8593,61.0394,91.1266,0.0,46.1089,57.4765,56.2204,7.7748,23.504,9.6688,11.383,97.9961,40.9793,15.0279,45.439,12.8679,26.1467,30.4422,0.0,-72.7976,-41.2902,-98.6821,-89.4886,-33.995],"direction":[45.3977,40.4403,-19.8415,19.0025,34.9303,-44.5572,-52.3046,-42.172,-39.6063,-30.6374,25.677,23.7182,20.5055,-0.9739,-52.5029,27.22,38.861,41.3782,65.5214,67.4488,67.018,67.0363,55.3379,62.0426,58.3645,51.3691,53.071,37.0208,-8.833,29.6606,57.4443,0.0,55.76,58.4488,58.5254,57.3141,55.1981,50.7806,39.8377,73.1737,70.9352,72.2501,75.0615,61.8979,50.3533,49.3323,0.0,-22.322,-38.2724,-69.206,-74.9709,-74.2027],"intensity":[1.9231,28.8462,50.0,71.1538,82.6923,98.0769,92.3077,34.6154,25.0,13.4615,80.7692,40.3846,5.7692,53.8462,84.6154,98.0769,98.0769,15.3846,100.0,98.0769,25.0,46.1538,7.6923,53.8462,5.7692,5.7692,32.6923,46.1538,84.6154,78.8462,96.1538,86.5385,50.0,53.8462,71.1538,42.3077,17.3077,67.3077,21.1538,100.0,98.0769,75.0,86.5385,67.3077,80.7692,59.6154,82.6923,75.0,63.4615,96.1538,96.1538,80.7692],"confirmation":[52.8277,81.8206,32.2923,75.9577,80.2719,88.123,84.5256,7.0178,50.9408,76.5716,82.6098,73.2391,49.1011,50.8542,88.7349,85.8267,80.6312,76.0849,93.5895,83.9332,54.8702,81.1201,81.1272,87.3875,55.137,54.1487,82.2113,29.7553,81.2098,83.0236,90.9837,34.8321,84.4483,87.5757,87.2484,53.9596,80.9626,76.7787,77.4759,94.7205,12.0109,80.388,87.7322,33.2979,8.6208,83.3271,27.2361,81.6869,80.0429,93.4296,93.7396,35.5755],"persistence":[62.5,62.5,62.5,62.5,75.0,50.0,25.0,0.0,25.0,50.0,25.0,25.0,25.0,25.0,25.0,0.0,25.0,50.0,50.0,50.0,50.0,75.0,100.0,100.0,100.0,100.0,100.0,100.0,75.0,75.0,75.0,62.5,62.5,62.5,62.5,62.5,87.5,87.5,87.5,100.0,100.0,100.0,100.0,100.0,100.0,100.0,87.5,62.5,37.5,12.5,12.5,37.5],"assessmentRisk":[37.1498,15.1037,14.933,15.0829,18.2991,19.8634,23.4394,44.3474,40.303,3.2813,26.4306,36.3859,36.3571,41.3452,18.2323,3.5937,17.3317,32.11,10.9736,23.8167,33.5508,28.5562,1.7533,6.3311,19.2054,12.9597,11.3199,6.6023,22.5396,16.3913,11.3586,45.2581,23.9647,18.9134,17.0734,37.0342,27.009,28.6863,0.8807,9.0303,42.591,29.6216,18.2753,8.7176,9.6348,12.6256,44.068,27.1614,25.5299,11.3477,10.2582,38.382],"volumeParticipation":true,"latest":{"consensus":-22.6,"control":-12.8,"force":-34.0,"direction":-74.2,"confirmation":35.6,"persistence":37.5,"assessmentRisk":38.4,"intensity":80.8,"evidenceDepth":100},"analysis":{"status":"Market Dynamics 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":"Market Dynamics","direction":"downward","disagreement":false},"support":{"window":"Latest 12 months","controlState":"Seller control supports the view","controlPath":"Control support is easing","forceState":"Downward commitment","forcePath":"Commitment is easing","directionState":"Downward follow-through","persistenceState":"Unsettled","confirmationState":"Limited support","riskState":"Present","intensityState":"Elevated"},"cards":[{"label":"SM Consensus Gauge","value":"-22.6","detail":"Market Dynamics has stronger support","tone":"negative"},{"label":"SM Control Gauge","value":"-12.8","detail":"Seller control supports the view","tone":"negative"},{"label":"SM Force Gauge","value":"-34.0","detail":"Downward commitment","tone":"negative"},{"label":"SM Direction Gauge","value":"-74.2","detail":"Downward follow-through","tone":"negative"},{"label":"SM Confirmation Gauge","value":"36/100","detail":"Limited support","tone":"caution"}]},"kpis":[{"label":"Price structure","value":"Rotational","detail":"completed-week alignment","tone":"caution"},{"label":"Momentum","value":"39.1","detail":"Negative","tone":"negative"},{"label":"Risk pressure","value":"7.0%","detail":"Elevated","tone":"caution"},{"label":"Trend quality","value":"40.2","detail":"Directional","tone":"positive"},{"label":"Range position","value":"11%","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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Market Dynamics construction and private inputs are not disclosed. Historical research is not a forecast or instruction to trade."}