{"schema_version":"1.0","name":"533A Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"25267397-b947-45e1-908d-4ab4277f3305","symbol":"533A","name":"NZAM ETF S&P500(Unhedged)","exchange":"JPX","country":"JP","asset_type":"etf","currency":"JPY","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, Acceleration, deceleration and rollover, Range pressure and compression, Activity pressure and cumulative balance."},{"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":[2000.0,2750.0,1945.0,2000.0,2148.0,2150.0,2299.0,2530.0,2438.0,2215.0,2229.0,2297.0,2224.0,2263.0,2321.0,2251.0,2299.0,2287.0,2267.0,2403.0,2347.0,2399.0,2395.0],"highs":[2000.040039,2831.0,2000.0,2136.0,2148.0,2448.0,2649.0,2530.0,2438.0,2229.0,2298.0,2297.0,2259.0,2263.0,2321.0,2495.0,2302.0,2287.0,2414.0,2403.0,2352.0,2399.0,2395.0],"lows":[1981.339966,1923.0,1888.0,1950.0,2031.0,2051.0,2138.0,2228.0,2165.0,2188.0,2203.0,2265.0,2224.0,2263.0,2321.0,2251.0,2299.0,2282.0,2267.0,2360.0,2302.0,2305.0,2282.0],"closes":[1981.339966,1940.0,1999.0,2052.0,2090.0,2280.0,2377.0,2288.0,2165.0,2229.0,2256.0,2265.0,2259.0,2263.0,2321.0,2285.0,2302.0,2282.0,2414.0,2397.0,2352.0,2397.0,2285.0],"hoverRows":[[{"label":"Open","value":"2,000","className":"is-ohlc","compact":true},{"label":"High","value":"2,000","className":"is-ohlc","compact":true},{"label":"Low","value":"1,981","className":"is-ohlc","compact":true},{"label":"Close","value":"1,981","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":[1911.56,2442.44],"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":"2026-04-24","price":2280.0}],"reversal_dangers":[{"date":"2026-05-01","price":2377.0},{"date":"2026-07-03","price":2285.0}]}},"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":[1981.34,1940.0,1999.0,2052.0,2090.0,2280.0,2377.0,2288.0,2165.0,2229.0,2256.0,2265.0,2259.0,2263.0,2321.0,2285.0,2302.0,2282.0,2414.0,2397.0,2352.0,2397.0,2285.0],"consensus":[-100.0,-96.2555,98.2143,9.6774,48.6178,59.3329,50.5386,10.98,-22.7231,29.1224,14.9612,0.0,33.3621,17.7461,35.585,0.0,29.8687,0.0,56.0979,31.8364,19.5895,38.2161,-46.6678],"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,54.1665,41.7391,9.191,-28.7248,45.0939,25.4401,0.0,36.9626,16.4489,32.9366,0.0,41.2282,0.0,65.6776,34.6245,23.4029,40.6733,-40.391],"force":[-100.0,-96.2555,98.2143,9.6774,9.5026,43.9262,29.4755,28.4115,-76.1349,22.9378,6.675,0.0,19.9914,3.6884,25.1483,0.0,19.6496,0.0,56.3905,10.9914,4.9697,32.2223,-89.0124],"direction":[null,null,null,null,76.5573,76.2421,75.6402,62.1693,-22.2873,15.2868,8.9039,0.0,38.7977,29.2699,46.0664,0.0,24.1857,0.0,44.9406,43.5393,25.6741,39.6892,-23.5951],"intensity":[null,null,null,null,25.0,60.0,50.0,28.5714,37.5,66.6667,10.0,9.0909,8.3333,7.6923,21.4286,66.6667,68.75,5.8824,55.5556,42.1053,25.0,19.0476,50.0],"confirmation":[54.6667,53.4684,54.0952,25.7634,59.1029,86.5957,83.6645,33.309,36.229,76.8873,49.7087,4.1806,78.2135,50.6034,79.1095,4.759,77.0734,27.4805,85.8143,77.5099,51.0983,80.009,55.0],"persistence":[null,null,33.3333,0.0,20.0,33.3333,42.8571,50.0,50.0,75.0,75.0,62.5,62.5,62.5,62.5,50.0,75.0,62.5,62.5,75.0,75.0,75.0,50.0],"assessmentRisk":[null,null,null,null,25.2391,20.3228,24.7289,44.1475,44.024,39.8719,51.6891,15.0398,24.6465,11.8998,17.1425,11.1385,10.6767,14.5653,16.029,31.3564,24.7893,30.197,25.705],"volumeParticipation":true,"latest":{"consensus":-46.7,"control":-40.4,"force":-89.0,"direction":-23.6,"confirmation":55.0,"persistence":50.0,"assessmentRisk":25.7,"intensity":50.0,"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 easing","forceState":"Downward commitment","forcePath":"Commitment is strengthening","directionState":"Downward follow-through","persistenceState":"Developing","confirmationState":"Qualified support","riskState":"Contained","intensityState":"Normal"},"cards":[{"label":"SM Consensus Gauge","value":"-46.7","detail":"Completed tape has stronger support","tone":"negative"},{"label":"SM Control Gauge","value":"-40.4","detail":"Seller control supports the view","tone":"negative"},{"label":"SM Force Gauge","value":"-89.0","detail":"Downward 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Market Dynamics construction and private inputs are not disclosed. Historical research is not a forecast or instruction to trade."}