{"schema_version":"1.0","name":"TMNL Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"279e74be-6bd7-4cbd-930f-072bb712e347","symbol":"TMNL","name":"T. ROWE PRICE LONG MUNICIPAL INCOME ETF","exchange":"NASDAQ","country":"US","asset_type":"etf","currency":"USD","sector":null,"industry":null},"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, Activity pressure and cumulative balance, Acceleration, deceleration and rollover, Range pressure and compression, Directional strength and control, 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":40,"displayedObservations":40,"assetType":"ETF","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":"Negative pressure; price rotational","headline":"Market Dynamics is negative while price has no clear direction","summary":"Market Dynamics weakened this week and remains below zero. Underlying support has contracted across the recent completed path. Price structure remains rotational.","take":"The underlying condition is weak, but a negative price response is still required.","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":[0.068306,0.146968,0.236743,0.28488,0.399805,0.414504,0.303948,0.08375,-0.142699,-0.369224,-0.5372,-0.556335],"opens":[50.145186,50.149272,50.233975,50.244651,50.450607,50.507605,50.141706,49.948293,49.673371,49.5401,49.831,49.582],"highs":[50.273835,50.210059,50.291175,50.373581,50.473227,50.507605,50.161635,49.948293,49.8902,49.8332,49.9432,49.6631],"lows":[50.135719,50.054404,50.153956,50.244651,50.383745,50.101847,49.982273,49.282561,49.5273,49.54,49.7382,49.455],"closes":[50.135719,50.210059,50.153956,50.373581,50.473227,50.198703,50.043056,49.570935,49.5273,49.8332,49.7382,49.455],"hoverRows":[[{"label":"Open","value":"50.1","className":"is-ohlc","compact":true},{"label":"High","value":"50.3","className":"is-ohlc","compact":true},{"label":"Low","value":"50.1","className":"is-ohlc","compact":true},{"label":"Close","value":"50.1","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.07","note":"Supportive and strengthening","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"50.1","className":"is-ohlc","compact":true},{"label":"High","value":"50.2","className":"is-ohlc","compact":true},{"label":"Low","value":"50.1","className":"is-ohlc","compact":true},{"label":"Close","value":"50.2","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.15","note":"Supportive and strengthening","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"50.2","className":"is-ohlc","compact":true},{"label":"High","value":"50.3","className":"is-ohlc","compact":true},{"label":"Low","value":"50.2","className":"is-ohlc","compact":true},{"label":"Close","value":"50.2","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.24","note":"Supportive and strengthening","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"50.2","className":"is-ohlc","compact":true},{"label":"High","value":"50.4","className":"is-ohlc","compact":true},{"label":"Low","value":"50.2","className":"is-ohlc","compact":true},{"label":"Close","value":"50.4","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.28","note":"Supportive and strengthening","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"50.5","className":"is-ohlc","compact":true},{"label":"High","value":"50.5","className":"is-ohlc","compact":true},{"label":"Low","value":"50.4","className":"is-ohlc","compact":true},{"label":"Close","value":"50.5","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.40","note":"Supportive and strengthening","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"50.5","className":"is-ohlc","compact":true},{"label":"High","value":"50.5","className":"is-ohlc","compact":true},{"label":"Low","value":"50.1","className":"is-ohlc","compact":true},{"label":"Close","value":"50.2","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.41","note":"Supportive and strengthening","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"50.1","className":"is-ohlc","compact":true},{"label":"High","value":"50.2","className":"is-ohlc","compact":true},{"label":"Low","value":"50.0","className":"is-ohlc","compact":true},{"label":"Close","value":"50.0","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.30","note":"Supportive but easing","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"49.9","className":"is-ohlc","compact":true},{"label":"High","value":"49.9","className":"is-ohlc","compact":true},{"label":"Low","value":"49.3","className":"is-ohlc","compact":true},{"label":"Close","value":"49.6","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.08","note":"Supportive but easing","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"49.7","className":"is-ohlc","compact":true},{"label":"High","value":"49.9","className":"is-ohlc","compact":true},{"label":"Low","value":"49.5","className":"is-ohlc","compact":true},{"label":"Close","value":"49.5","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.14","note":"Cautious and weakening","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"49.5","className":"is-ohlc","compact":true},{"label":"High","value":"49.8","className":"is-ohlc","compact":true},{"label":"Low","value":"49.5","className":"is-ohlc","compact":true},{"label":"Close","value":"49.8","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.37","note":"Cautious and weakening","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"49.8","className":"is-ohlc","compact":true},{"label":"High","value":"49.9","className":"is-ohlc","compact":true},{"label":"Low","value":"49.7","className":"is-ohlc","compact":true},{"label":"Close","value":"49.7","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.54","note":"Cautious and weakening","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"49.6","className":"is-ohlc","compact":true},{"label":"High","value":"49.7","className":"is-ohlc","compact":true},{"label":"Low","value":"49.5","className":"is-ohlc","compact":true},{"label":"Close","value":"49.5","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.56","note":"Cautious and weakening","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}]],"pressureRange":[-2.3,2.3],"priceRange":[49.393906,50.534321],"zones":{"accumulationBoundary":-1.5,"accumulationDarkBoundary":-2.0,"distributionBoundary":1.5,"distributionDarkBoundary":2.0},"latest":-0.556335,"state":"Negative and weakening","context":{"scenario":"negativeWeakening","latestDirection":"slight easing","fourWeekDirection":"weakening","now":{"label":"Slightly easier this week","detail":"Market Dynamics weakened this week and remains below zero."},"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":"Accumulation pressure","detail":"Price is within accumulation conditions, but the completed tape has not yet confirmed a recovery. The zone is a watch area rather than a directional signal.","tone":"negative"},"chartSummary":"Price is in the accumulation zone. The Market Dynamics bars show whether underlying conditions are repairing or continuing to weaken.","summary":"Price is within accumulation conditions, but the completed tape has not yet confirmed a recovery. The zone is a watch area rather than a directional signal.","annotations":[{"label":"Current tape relationship","value":"Accumulation pressure","detail":"Market Dynamics weakened this week and remains below zero.","tone":"negative"},{"label":"Price location","value":"Accumulation zone","detail":"Price is being tested for a confirmed recovery through the lower zone.","tone":"caution"},{"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":[49.0098,49.2414,49.0518,49.0099,49.0107,49.0473,49.2389,49.4901,49.4159,49.2779,49.556,49.6298,50.0127,50.111,50.2709,49.9004,49.643,49.0754,49.0608,49.6504,49.776,50.074,49.9384,49.7953,49.9541,49.4767,49.5542,50.0617,50.1357,50.2101,50.154,50.3736,50.4732,50.1987,50.0431,49.5709,49.5273,49.8332,49.7382,49.455],"consensus":[-100.0,92.7479,80.9061,-32.3335,-8.2673,-9.4329,71.6973,91.2719,26.4159,0.0,79.1452,59.3982,82.7283,73.5738,78.5129,0.0,-43.0269,-65.1965,-43.9294,36.3992,41.1084,60.5621,24.1832,0.0,42.6234,-58.3261,0.0,55.6384,18.607,47.8472,12.3814,60.0383,52.5211,-20.7066,-18.402,-61.3551,-49.0741,16.1303,-36.1056,-54.8355],"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,-2.179,81.0116,91.9314,14.6221,0.0,86.7054,44.6765,91.5625,78.7589,79.227,0.0,-35.9762,-64.8596,-35.3539,48.9896,38.9842,71.3662,19.9897,0.0,48.6659,-49.9514,0.0,56.9395,11.1915,54.0049,3.2934,69.5881,61.2182,-20.2404,-20.8486,-52.5196,-47.256,30.8842,-36.9937,-65.3201],"force":[-100.0,92.7479,80.9061,-32.3335,-5.8592,-12.7307,51.9725,99.2261,27.6244,0.0,66.2647,62.5533,63.263,46.7982,64.7147,0.0,-90.4347,-70.4763,-33.3058,72.3979,62.4466,53.2734,0.3137,0.0,42.7279,-93.5822,0.0,74.7599,0.5351,32.6521,11.0709,55.6199,33.9197,-76.2063,-29.074,-85.5622,-42.6476,56.5621,-34.8397,-52.8702],"direction":[null,null,null,null,-18.3577,-20.3481,75.1416,84.8367,78.4948,0.0,79.7054,73.9692,86.536,86.7734,87.5527,0.0,-17.222,-61.8101,-61.3182,3.7031,28.2945,53.4208,46.4735,0.0,35.6431,-42.7142,0.0,40.4931,39.9903,51.6635,47.047,52.2803,55.8683,-18.4033,-7.9831,-54.1622,-55.7424,29.6113,-35.995,-44.257],"intensity":[null,null,null,null,25.0,40.0,83.3333,100.0,25.0,55.5556,100.0,72.7273,100.0,61.5385,57.1429,93.3333,87.5,100.0,66.6667,100.0,80.0,71.4286,22.7273,30.4348,33.3333,92.0,84.6154,100.0,71.4286,10.3448,20.0,48.3871,28.125,66.6667,73.5294,100.0,55.5556,67.5676,39.4737,64.1026],"confirmation":[54.6667,52.346,48.5566,33.0134,26.5414,49.0942,90.2001,97.4394,35.5457,35.2929,92.8187,87.3279,93.7452,90.6486,92.6927,40.1293,83.3208,89.0289,81.8643,58.6763,81.8374,86.9931,52.4562,29.1676,81.5506,87.8664,30.7264,86.3672,50.8498,82.7542,6.5505,86.9321,84.1073,34.9173,51.5099,88.506,83.5356,35.1528,79.5017,85.3277],"persistence":[null,null,33.3333,0.0,20.0,33.3333,14.2857,0.0,25.0,12.5,12.5,37.5,62.5,87.5,87.5,75.0,50.0,37.5,12.5,12.5,12.5,12.5,12.5,12.5,37.5,37.5,50.0,50.0,50.0,50.0,50.0,62.5,62.5,62.5,50.0,25.0,0.0,0.0,25.0,50.0],"assessmentRisk":[null,null,null,null,4.4255,39.8491,7.4799,4.1915,36.3607,43.7747,8.4412,6.129,8.5318,13.2085,10.7278,45.6601,25.7028,17.361,28.0244,51.9213,0.2486,19.5684,37.579,24.295,4.9154,18.6533,42.3466,4.7156,15.8633,25.0902,42.6871,11.0551,18.7676,8.0345,12.6605,19.0822,25.3852,51.5367,24.539,6.0326],"volumeParticipation":true,"latest":{"consensus":-54.8,"control":-65.3,"force":-52.9,"direction":-44.3,"confirmation":85.3,"persistence":50.0,"assessmentRisk":6.0,"intensity":64.1,"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 strengthening","forceState":"Downward commitment","forcePath":"Commitment is easing","directionState":"Downward follow-through","persistenceState":"Developing","confirmationState":"Strong support","riskState":"Contained","intensityState":"Normal"},"cards":[{"label":"SM Consensus Gauge","value":"-54.8","detail":"Market Dynamics has stronger support","tone":"negative"},{"label":"SM Control Gauge","value":"-65.3","detail":"Seller control supports the view","tone":"negative"},{"label":"SM Force Gauge","value":"-52.9","detail":"Downward commitment","tone":"negative"},{"label":"SM Direction Gauge","value":"-44.3","detail":"Downward follow-through","tone":"negative"},{"label":"SM Confirmation Gauge","value":"85/100","detail":"Strong support","tone":"positive"}]},"kpis":[{"label":"Price structure","value":"Rotational","detail":"completed-week alignment","tone":"caution"},{"label":"Momentum","value":"47.2","detail":"Negative","tone":"negative"},{"label":"Risk pressure","value":"0.6%","detail":"Elevated","tone":"caution"},{"label":"Trend quality","value":"26.5","detail":"Directional","tone":"positive"},{"label":"Range position","value":"37%","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":[49.0098,49.2414,49.0518,49.0099,49.0107,49.0473,49.2389,49.4901,49.4159,49.2779,49.556,49.6298,50.0127,50.111,50.2709,49.9004,49.643,49.0754,49.0608,49.6504,49.776,50.074,49.9384,49.7953,49.9541,49.4767,49.5542,50.0617,50.1357,50.2101,50.154,50.3736,50.4732,50.1987,50.0431,49.5709,49.5273,49.8332,49.7382,49.455],"stroke":"#10243b","width":2.1},{"label":"Fast trend","values":[null,null,null,null,49.0382,49.0398,49.076,49.1513,49.1994,49.2137,49.2759,49.3402,49.4625,49.5804,49.706,49.7413,49.7234,49.6056,49.5066,49.5327,49.5769,49.6673,49.7166,49.7309,49.7715,49.7179,49.6881,49.756,49.8251,49.8951,49.9421,50.0206,50.1029,50.1203,50.1063,50.0089,49.9214,49.9053,49.8749,49.7986],"stroke":"#176fa3","width":1.7},{"label":"Slow 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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,145.6098,144.1041,78.8524,26.809,269.6688,0.0994,14.0293,45.3822,119.2823,229.7441,27.4006,158.952,89.0233,266.3238,17.1598,10.0999,9.6939,39.0877,144.4941,194.5975,84.1764,8.9327,14.7444,11.0832,30.9894,16.7126,90.3104,13.2167,63.0292,220.139,63.4004,22.164,21.7747],"stroke":"#1678a7","width":1.8},{"label":"Cumulative 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TMNL Technical Research Pack, completed week 2026-08-21, https://sharemaestro.com/terminal/279e74be-6bd7-4cbd-930f-072bb712e347/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."}