{"schema_version":"1.0","name":"IU28 Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"2aabe582-818a-4590-b7f3-0390b706ba68","symbol":"IU28","name":"ISHARES IBONDS DEC 2028 TERM $ HIGH YIELD CORP UCITS ETF USD (ACC)","exchange":"AMS","country":"NL","asset_type":"etf","currency":"USD","sector":null,"industry":null},"summary":"Market Dynamics strengthened this week and remains positive. Underlying support has contracted across the recent completed path. The upward price structure remains intact, but its underlying support has weakened.","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 position and boundary pressure, Range pressure and compression, 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":37,"displayedObservations":37,"assetType":"ETF","state":"Aligned upward","stateTone":"positive","summary":"Market Dynamics strengthened this week and remains positive. Underlying support has contracted across the recent completed path. The upward price structure remains intact, but its underlying support has weakened.","evidenceAlignment":{"status":"Confirmation weakening","headline":"Upward price structure remains intact, but support is fading","summary":"Market Dynamics strengthened this week and remains positive. Underlying support has contracted across the recent completed path. The upward price structure remains intact, but its underlying support has weakened.","take":"Treat the advance as conditional. 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Price confirmation now carries more weight.","historical":{"label":"Broad directional cases","weeks":12,"sample":0},"nowContext":{"label":"Stronger this week","detail":"Market Dynamics strengthened this week and remains positive."},"fourWeekContext":{"label":"Weakened over four weeks","detail":"Underlying support has contracted across the recent completed path."},"priceContext":{"label":"Price structure is upward","detail":"Price is responding in the same broad direction as Market Dynamics."}},"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":"Disagreement playbook","title":"Use improving Market Dynamics to prepare, not anticipate","tone":"recovery","finding":"Comparable disagreements produced an average recovery of 1.7% across 2 completed cases, with the largest move arriving after 11.5 weeks on average.","approach":"Define the price level that would confirm the repair. Until that response occurs, keep the idea at watchlist or starter-position size.","watch":"The early repair fails if Market Dynamics fades before price responds."}]},"summary":"This record compares the ticker's completed price path with its published Market Dynamics history."},"events":{"positioning_recoveries":[],"reversal_warnings":[],"reversal_dangers":[]}},"smTape":{"available":true,"dates":["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":[101.01,101.09,101.32,101.64,101.64,101.96,102.12,101.8,101.9,101.95,102.14,102.12,101.86,101.0,101.09,100.78,101.93,102.55,102.55,102.54,102.88,103.11,102.5,103.19,103.12,103.3,103.4,103.76,103.59,103.71,103.73,103.73,103.57,103.83,103.79,104.36,104.06],"consensus":[37.1434,-88.8956,-46.6657,-32.2217,56.6898,69.7285,55.4261,-8.8504,31.8524,12.5809,41.5351,19.3737,-9.9407,-73.8009,-31.4342,-57.7991,47.1665,59.2643,33.7532,20.3721,61.355,48.281,-23.6334,62.7353,17.682,31.2588,28.8709,43.0204,22.8633,33.8598,24.5354,20.8797,-10.0436,18.6074,0.0,68.8249,6.4213],"supportDates":["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,77.7253,53.0245,-16.1372,17.9652,6.709,38.4974,3.569,-14.0972,-63.3257,-17.8281,-44.751,51.8063,52.9971,30.1681,6.186,56.972,38.8294,-26.2756,55.2848,15.9488,34.4417,17.382,43.7456,18.231,33.3699,19.2724,26.0967,-15.7806,13.6603,0.0,69.9024,12.5268],"force":[37.1434,-88.8956,-46.6657,-32.2217,10.0115,49.0674,31.4885,-72.7303,28.3872,6.8116,46.1778,6.6734,-29.7578,-93.2117,-6.9139,-62.5697,76.0381,77.4603,10.3644,4.0049,72.2357,52.0143,-77.6044,88.565,10.1975,12.4228,13.6838,25.2473,5.3236,13.9666,3.7813,0.6901,-42.0537,6.6699,0.0,89.7075,63.0307],"direction":[null,null,null,null,90.0314,75.3472,75.269,-45.1059,50.1986,33.1434,41.6904,56.0412,-8.9648,-71.9077,-64.4986,-69.3038,21.2413,53.4296,54.5567,53.9969,58.5922,56.4163,-17.9372,52.8005,39.5768,41.0756,52.849,54.8867,48.291,48.6292,45.3746,30.3243,-19.3772,32.788,0.0,52.6774,40.9918],"intensity":[null,null,null,null,25.0,80.0,100.0,71.4286,100.0,66.6667,20.0,9.0909,100.0,100.0,14.2857,80.0,100.0,100.0,66.6667,31.5789,55.0,80.9524,86.3636,86.9565,75.0,72.0,69.2308,59.2593,25.0,17.2414,13.3333,12.9032,75.0,30.303,50.0,77.1429,33.3333],"confirmation":[34.5525,51.1132,37.5997,32.9776,61.3402,89.5616,85.0434,36.9572,78.2988,27.6442,81.479,29.7369,28.3008,92.3675,54.8523,86.8399,83.9025,87.6146,78.1428,29.5134,88.032,83.7077,35.6605,88.976,29.6771,77.3803,76.9509,81.2138,52.9969,78.2363,52.6323,51.4252,30.9026,50.9993,5.7228,90.644,43.0986],"persistence":[null,null,33.3333,50.0,20.0,0.0,14.2857,0.0,0.0,25.0,50.0,75.0,50.0,25.0,0.0,0.0,0.0,0.0,0.0,0.0,25.0,50.0,50.0,75.0,75.0,75.0,75.0,75.0,75.0,75.0,100.0,100.0,75.0,75.0,62.5,62.5,50.0],"assessmentRisk":[null,null,null,null,21.6509,15.1356,22.2868,36.7463,27.6067,8.9981,15.1404,37.9008,5.2301,12.8827,34.1685,21.0815,15.6799,20.2373,32.9451,39.7661,17.8072,17.9269,6.7727,10.9582,12.5995,2.0298,34.0301,21.747,28.8075,25.6155,28.0961,15.5092,1.71,9.876,9.5844,14.8677,51.8852],"volumeParticipation":true,"latest":{"consensus":6.4,"control":12.5,"force":63.0,"direction":41.0,"confirmation":43.1,"persistence":50.0,"assessmentRisk":51.9,"intensity":33.3,"evidenceDepth":100},"analysis":{"status":"Joint upward confirmation","headline":"The gauges support the upward market view","summary":"Price structure and Market Dynamics agree. Control, force and direction support the same upward assessment.","take":"Current assessment: upward pressure has broad support.","tone":"positive","supportedView":"Price structure and Market Dynamics","direction":"upward","disagreement":false},"support":{"window":"Latest 12 months","controlState":"Buyer control supports the view","controlPath":"Broadly stable","forceState":"Upward commitment","forcePath":"Commitment is strengthening","directionState":"Upward follow-through","persistenceState":"Developing","confirmationState":"Qualified support","riskState":"Present","intensityState":"Quiet"},"cards":[{"label":"SM Consensus Gauge","value":"+6.4","detail":"Joint upward confirmation","tone":"positive"},{"label":"SM Control Gauge","value":"+12.5","detail":"Buyer control supports the view","tone":"positive"},{"label":"SM Force Gauge","value":"+63.0","detail":"Upward commitment","tone":"positive"},{"label":"SM Direction Gauge","value":"+41.0","detail":"Upward follow-through","tone":"positive"},{"label":"SM Confirmation Gauge","value":"43/100","detail":"Qualified support","tone":"neutral"}]},"kpis":[{"label":"Price structure","value":"Aligned upward","detail":"completed-week alignment","tone":"positive"},{"label":"Momentum","value":"67.0","detail":"Positive","tone":"positive"},{"label":"Risk pressure","value":"0.5%","detail":"Contained","tone":"neutral"},{"label":"Trend quality","value":"32.7","detail":"Directional","tone":"positive"},{"label":"Range position","value":"89%","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":[101.01,101.09,101.32,101.64,101.64,101.96,102.12,101.8,101.9,101.95,102.14,102.12,101.86,101.0,101.09,100.78,101.93,102.55,102.55,102.54,102.88,103.11,102.5,103.19,103.12,103.3,103.4,103.76,103.59,103.71,103.73,103.73,103.57,103.83,103.79,104.36,104.06],"stroke":"#10243b","width":2.1},{"label":"Fast trend","values":[null,null,null,null,101.264,101.3905,101.5231,101.5735,101.6329,101.6905,101.7722,101.8355,101.8399,101.6872,101.5786,101.4334,101.5237,101.7103,101.863,101.9861,102.1486,102.3234,102.3555,102.5072,102.6187,102.7425,102.8621,103.0253,103.128,103.2338,103.324,103.3978,103.4291,103.502,103.5544,103.7009,103.7662],"stroke":"#176fa3","width":1.7},{"label":"Slow trend","values":[null,null,null,null,null,null,null,null,null,null,null,null,101.519,101.4806,101.4516,101.4019,101.441,101.5232,101.5992,101.6689,101.7586,101.8587,101.9062,102.0013,102.0842,102.1742,102.265,102.3758,102.4657,102.5579,102.6447,102.7251,102.7877,102.8649,102.9334,103.0391,103.1147],"stroke":"#07865c","width":1.8},{"label":"Upper envelope","values":[null,null,null,null,null,null,null,null,null,102.3707,102.4385,102.4812,102.4655,102.4817,102.4697,102.4919,102.4996,102.6282,102.7295,102.8092,102.954,103.1277,103.174,103.3464,103.4804,103.6339,103.7869,103.997,104.1471,104.3005,104.4407,104.5652,104.6426,104.6377,104.5799,104.4403,104.4272],"stroke":"#98a9b8","width":1.0,"dash":[6,5]},{"label":"Lower envelope","values":[null,null,null,null,null,null,null,null,null,100.9153,100.9378,100.9671,101.0037,100.8826,100.8157,100.6856,100.7181,100.694,100.6863,100.6898,100.732,100.7603,100.832,100.8146,100.8286,100.8091,100.7841,100.77,100.7889,100.8115,100.8303,100.8668,100.9604,101.2483,101.5761,102.0737,102.2998],"stroke":"#98a9b8","width":1.0,"dash":[6,5]}],"guides":[],"dates":["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":"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,244.1053,532.0056,29.9068,85.2872,10.8421,17.2499,49.1375,31.7552,53.9881,39.6193,254.3454,0.0,12.1622,80.7647,223.0984,60.2056,169.0772,109.1494,0.0,75.8366,0.0,37.9922,0.0,41.0006,0.0,52.1264,23.4335,366.6836,189.0367,234.3444],"stroke":"#1678a7","width":1.8},{"label":"Cumulative balance","values":[null,null,null,null,null,null,null,116.8647,135.0,135.0,135.0,134.5676,133.9239,132.1595,133.2468,131.4533,132.7216,135.0,135.0,134.6744,135.0,135.0,133.5195,135.0,132.1796,132.1796,134.0321,134.0321,133.4509,133.4509,134.0266,134.0266,133.2929,133.6137,127.6188,130.9159,126.3905],"stroke":"#07865c","width":1.7}],"guides":[{"label":"Typical activity","values":[100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0],"stroke":"#8fa0af","width":1.0,"dash":[6,5]}],"dates":["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,21.2928,22.7967,23.2883,23.7448,24.4485,25.1019,26.5445,27.8841,29.5926,31.1792,32.6524],"stroke":"#10243b","width":2.0},{"label":"Positive direction","values":[null,null,null,null,null,null,null,null,null,null,null,null,null,18.0858,15.6159,12.859,11.0978,24.1139,24.1139,27.0293,28.3391,31.423,28.8109,24.5245,25.0991,24.5444,29.3114,27.9682,26.9344,26.4825,28.0879,28.0879,33.1456,30.4127,32.1219,29.308,27.9878],"stroke":"#07865c","width":1.6},{"label":"Negative direction","values":[null,null,null,null,null,null,null,null,null,null,null,null,null,16.5695,16.6102,19.0763,16.4635,14.3839,14.3839,13.8313,12.8287,11.2001,11.3247,14.478,12.9588,12.6724,11.8718,11.3278,14.6055,14.3605,13.9612,13.9612,12.4785,11.4496,10.1984,9.305,8.8858],"stroke":"#c13f3f","width":1.6}],"guides":[],"dates":["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":"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,66.4519,61.4132,64.1303,74.4565,73.3697,59.2392,12.5001,17.3912,7.5758,65.6566,83.843,83.843,83.4063,92.975,84.9315,64.0411,87.6712,83.2776,89.2977,87.107,98.4278,93.0817,96.8554,95.679,95.679,80.9917,88.1543,82.2917,97.1354,89.3228],"stroke":"#10243b","width":2.0},{"label":"From high","values":[null,null,null,null,null,null,null,-0.5082,-0.6919,-0.6432,-0.458,-0.4775,-0.7309,-1.569,-1.4813,-1.7835,-0.6627,-0.3595,-0.3595,-0.3692,-0.165,-0.4249,-1.014,-0.3477,-0.4825,-0.3088,-0.3949,-0.0482,-0.2119,-0.0963,-0.1348,-0.1348,-0.6618,-0.4124,-0.6509,-0.1053,-0.3925],"stroke":"#c13f3f","width":1.5},{"label":"From low","values":[null,null,null,null,null,null,null,1.0221,1.1214,1.171,1.3595,1.3397,1.0817,0.2282,0.3176,0.1491,1.2919,1.908,1.908,1.898,2.2359,2.4645,1.8583,2.544,2.4744,2.6533,2.7527,3.1104,2.9415,3.0607,3.0806,3.0806,2.9216,3.18,3.1402,3.7067,3.4085],"stroke":"#07865c","width":1.5}],"guides":[{"label":"Range centre","values":[50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0],"stroke":"#8fa0af","width":1.0,"dash":[6,5]}],"dates":["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":"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,0.3997,0.4295,0.4858,0.5168,0.5459,0.5069,0.4896,0.4885,0.5184,0.5281,0.5723,0.5941,0.5631,0.5576,0.5408,0.5223,0.4927,0.4705,0.4369,0.4546,0.4589,0.4786,0.4844,0.4724],"stroke":"#c13f3f","width":1.9},{"label":"Envelope 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