{"schema_version":"1.0","name":"BF-A Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-14","ticker":{"uuid":"307445cf-8b2d-471b-b0f2-3386fa5baef8","symbol":"BF-A","name":"Brown-Forman Corporation","exchange":"NYSE","country":"US","asset_type":"equity","currency":"USD","sector":"Consumer Defensive","industry":"Beverages - Wineries & Distilleries"},"summary":"Market Dynamics strengthened this week and remains positive. Underlying support has strengthened across the recent completed path. Price has not yet responded to the same extent.","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, Drawdown and recovery pressure, Strength versus the research benchmark, Activity pressure and cumulative balance, Range position and boundary pressure, Range pressure and compression."},{"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":"Aligned upward","stateTone":"positive","summary":"Market Dynamics strengthened this week and remains positive. 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cautious, Market Dynamics positive","kind":"disagreement","expectedDirection":"higher","episodes":22,"completedEpisodes":20,"activeEpisodes":2,"medianExpectedMove":5.1,"averageExpectedMove":6.7,"averageWeeksToLargestMove":6.3,"horizons":[{"weeks":4,"sample":22,"expectedCount":11,"expectedPercent":50.0,"averageReturn":-0.1,"medianReturn":-0.2,"confidenceLow":30.7,"confidenceHigh":69.3,"confidence":"Mixed historical record"},{"weeks":12,"sample":20,"expectedCount":6,"expectedPercent":30.0,"averageReturn":-5.1,"medianReturn":-5.7,"confidenceLow":14.5,"confidenceHigh":51.9,"confidence":"Mixed historical record"},{"weeks":26,"sample":18,"expectedCount":3,"expectedPercent":16.7,"averageReturn":-11.5,"medianReturn":-12.0,"confidenceLow":5.8,"confidenceHigh":39.2,"confidence":"Historically adverse"}],"path":[{"week":0,"sample":0},{"week":1,"averageReturn":-0.4,"sample":22},{"week":2,"averageReturn":-1.6,"sample":22},{"week":3,"averageReturn":-0.6,"sample":22},{"week":4,"averageReturn":-0.1,"sample":22},{"week":5,"averageReturn":0.4,"sample":22},{"week":6,"averageReturn":0.7,"sample":21},{"week":7,"averageReturn":-0.4,"sample":21},{"week":8,"averageReturn":-0.3,"sample":21},{"week":9,"averageReturn":-2.8,"sample":20},{"week":10,"averageReturn":-3.9,"sample":20},{"week":11,"averageReturn":-4.5,"sample":20},{"week":12,"averageReturn":-5.1,"sample":20},{"week":13,"averageReturn":-4.2,"sample":20},{"week":14,"averageReturn":-4.4,"sample":20},{"week":15,"averageReturn":-4.8,"sample":20},{"week":16,"averageReturn":-6.0,"sample":19},{"week":17,"averageReturn":-7.1,"sample":19},{"week":18,"averageReturn":-7.4,"sample":19},{"week":19,"averageReturn":-8.7,"sample":19},{"week":20,"averageReturn":-9.3,"sample":19},{"week":21,"averageReturn":-10.1,"sample":19},{"week":22,"averageReturn":-11.0,"sample":19},{"week":23,"averageReturn":-10.9,"sample":19},{"week":24,"averageReturn":-11.2,"sample":18},{"week":25,"averageReturn":-11.9,"sample":18},{"week":26,"averageReturn":-11.5,"sample":18}]}},"pricePressureGap":{"label":"Price 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 strength ahead of price","tone":"positive","headline":"Underlying strength is leading price","use":"A positive price response is needed before the early upside case is confirmed.","confirm":"Treat the gap as an early-upside opportunity watch. A continued positive price response would confirm that price is catching up with the stronger foundation.","invalidate":"Reassess the reading when either price structure or the Market Dynamics state changes materially.","level":"positive","direction":"strengthening","zone":"middle","zoneContext":"Market Dynamics has strengthened across the recent completed path and remains strongly positive, while price has not advanced as far through its range. The gap is an early-upside watch; a positive price response is needed for confirmation.","historical":{"label":"Broad directional cases","weeks":12,"direction":"higher","percent":30.0,"averageReturn":-5.1,"sample":20},"nowContext":{"label":"Stronger this week","detail":"Market Dynamics strengthened this week and remains positive."},"fourWeekContext":{"label":"Strengthened over four weeks","detail":"Underlying support has strengthened across the recent completed path."},"priceContext":{"label":"Price is lagging the underlying strength","detail":"Market Dynamics has advanced further through its recent range than price. This is positive divergence and an early-upside watch, but price confirmation is still required."}},"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":"Early repair watch","title":"Prepare the case before price confirms the recovery","tone":"recovery","approach":"Use the improvement to move the ticker onto a watchlist or define an entry trigger. Commitment should rise only after price responds; fading Market Dynamics cancels the early case.","finding":"In this ticker's completed record, 30.0% of comparable cases moved higher after 12 weeks, with an average move of -5.1% across 20 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, 100.0% of completed 12-week outcomes were higher across 2 cases. Distinct visits lasted 2.0 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 improving Market Dynamics to prepare, not anticipate","tone":"recovery","finding":"Comparable disagreements produced an average recovery of 6.7% across 20 completed cases, with the largest move arriving after 6.3 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":[{"date":"2026-04-17","price":29.476404}],"distribution_rollovers":[],"price_pressure_gaps":[]}},"smTape":{"available":true,"dates":["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","2026-03-06","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"],"close":[43.1459,43.2026,42.5924,43.4368,42.858,44.9454,43.5697,44.8601,45.4768,45.0119,40.6947,37.8483,37.9242,38.9299,39.2431,41.9344,42.4398,38.5678,36.4315,34.2761,32.1112,32.4164,31.9109,31.7774,29.6793,30.0035,30.7856,31.5008,35.1121,33.0777,32.6842,32.3292,30.4675,32.5883,32.2428,32.4539,32.9337,33.0393,34.4211,32.4827,31.8878,26.9746,25.7332,25.4816,26.4587,27.9776,28.3162,27.9969,29.7383,27.639,29.419,29.2642,30.3284,29.361,28.4338,27.2637,26.2008,26.074,27.0784,25.8303,27.8097,26.9126,26.4446,25.9473,27.0686,27.2929,27.8,29.7219,29.7415,27.7666,25.6836,25.7622,25.6738,26.1553,27.3736,27.3441,29.3092,29.6924,29.8103,28.8474,25.2906,23.6466,23.131,26.9581,26.8589,29.4467,29.4764,28.6535,25.9567,28.1181,27.1266,26.7598,26.502,26.4623,27.4,26.64,28.62,26.76,26.6,26.13,26.71,29.22,29.06,28.9],"consensus":[0.0,0.0,-20.0396,23.3354,-21.8013,56.3647,-17.4654,42.2562,37.4011,0.0,-61.9646,-73.893,-37.1305,-9.023,-23.6001,43.6473,26.7251,-55.2378,-63.2008,-65.5659,-71.8615,-34.0751,-44.5744,-41.1428,-66.989,-32.6464,-12.1628,-8.874,55.3165,-21.6119,-13.6683,-9.5221,-52.8976,28.3692,-9.6989,0.0,18.2292,0.0,44.8097,-24.7724,-28.6699,-70.6445,-66.264,-47.1137,0.0,12.7863,0.0,0.0,37.3751,-40.0259,35.0599,0.0,37.5672,0.0,-22.9509,-43.9719,-58.6805,-31.4245,0.0,-52.4101,39.0575,-23.6487,-21.7178,-26.8258,14.5644,10.2545,23.4398,62.3324,29.9728,-28.0004,-55.5548,-27.997,-27.1816,-13.3454,34.0414,15.6154,60.0196,38.4038,38.8249,0.0,-63.4356,-63.6009,-51.4842,30.4661,8.5113,56.3687,31.675,0.0,-41.4034,28.5223,-22.0257,-12.5375,0.0,0.0,22.1936,-15.4827,51.4032,-25.4802,-9.0122,-19.4663,0.0,51.9188,22.3019,28.1523],"supportDates":["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","2026-03-06","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"],"control":[41.4315,0.0,-23.0594,-42.1947,-56.7174,-28.3907,0.0,-59.9898,35.7461,-33.9337,-22.2076,-34.3296,20.6847,9.2003,20.6839,56.083,23.2757,-36.9131,-61.5211,-26.291,-22.0231,-10.1842,31.4638,11.387,55.4649,33.3408,38.0021,0.0,-57.0229,-64.4123,-52.0458,38.8978,4.7869,47.624,27.304,0.0,-43.3698,37.3767,-17.6095,-6.2832,0.0,0.0,26.7153,-16.1508,50.3742,-31.7864,-6.5356,-21.4315,0.0,49.1526,17.7418,27.5799],"force":[45.6662,0.0,-33.1889,-59.8343,-78.506,-15.5563,0.0,-58.5751,75.2798,-37.6978,-21.64,-26.9951,36.404,14.7138,24.0524,83.5339,9.5999,-64.3041,-67.0437,-9.8425,-13.3826,-4.2399,53.7398,13.6625,79.4995,25.7237,23.1102,0.0,-96.4519,-72.5981,-40.2436,74.6763,6.2516,81.3643,15.5302,0.0,-62.9918,53.0352,-35.2969,-11.6639,0.0,0.0,36.7886,-25.2595,76.5137,-46.0286,-4.9649,-18.8121,0.0,70.1162,5.7207,15.9782],"direction":[27.3659,0.0,-15.5141,-34.6726,-46.7629,-46.2261,0.0,-39.344,16.9689,-1.8595,-21.2136,-18.1291,8.0299,8.2741,26.1518,54.3308,52.1787,-8.1166,-40.5297,-42.9142,-42.9335,-29.5193,22.9171,21.8427,51.3109,53.2472,50.9901,0.0,-47.1814,-56.2469,-58.8714,10.7488,14.3819,48.5086,48.2023,0.0,-23.7357,0.8938,-17.5932,-20.3093,0.0,0.0,6.6009,-7.7358,34.6431,-3.5959,-14.7336,-17.6876,0.0,42.0819,39.3572,37.5023],"intensity":[30.7692,25.0,38.4615,32.6923,26.9231,34.6154,42.3077,36.5385,65.3846,19.2308,32.6923,11.5385,32.6923,5.7692,28.8462,80.7692,46.1538,73.0769,90.3846,59.6154,5.7692,36.5385,44.2308,11.5385,82.6923,84.6154,11.5385,23.0769,96.1538,96.1538,63.4615,96.1538,90.3846,92.3077,80.7692,19.2308,88.4615,82.6923,40.3846,23.0769,3.8462,1.9231,30.7692,17.3077,75.0,69.2308,23.0769,7.6923,13.4615,88.4615,32.6923,19.2308],"confirmation":[80.2094,30.2026,75.6547,82.5815,87.4119,77.6185,5.855,84.8436,81.6528,53.1724,74.9399,76.4751,29.6127,71.4334,75.5614,88.6877,77.0725,34.3289,86.0367,76.4318,76.3562,50.0206,79.5329,73.0018,87.8694,79.9799,79.9576,31.7896,89.4033,88.6141,84.1238,35.9278,25.3782,86.933,77.7106,29.9597,81.8771,55.0726,75.52,49.414,1.2842,25.3805,52.8112,50.5756,85.23,54.0172,25.465,74.1793,26.8911,85.2107,52.0341,84.6464],"persistence":[37.5,25.0,12.5,0.0,25.0,25.0,37.5,50.0,50.0,62.5,62.5,62.5,37.5,12.5,0.0,25.0,25.0,25.0,25.0,25.0,0.0,25.0,25.0,25.0,25.0,0.0,25.0,37.5,37.5,37.5,12.5,12.5,12.5,12.5,12.5,12.5,12.5,37.5,37.5,12.5,0.0,12.5,12.5,25.0,0.0,25.0,25.0,25.0,25.0,12.5,12.5,12.5],"assessmentRisk":[2.7516,41.1593,22.4507,24.6998,20.5417,33.8798,40.495,15.6167,22.4749,41.4299,14.9348,19.3999,37.877,13.2369,32.3477,18.7366,34.4702,33.7378,18.7037,35.8299,36.2961,38.674,28.5758,37.004,19.7754,30.5756,29.1183,44.4246,17.9408,18.1754,24.2514,55.6569,32.3068,21.6518,34.0727,36.6922,0.8565,43.6279,30.4572,30.8737,15.6157,34.1196,2.868,4.1322,19.6185,22.5193,22.8515,8.9116,45.0265,22.044,37.5364,35.2781],"volumeParticipation":true,"latest":{"consensus":28.2,"control":27.6,"force":16.0,"direction":37.5,"confirmation":84.6,"persistence":12.5,"assessmentRisk":35.3,"intensity":19.2,"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":"Broadly stable","directionState":"Upward follow-through","persistenceState":"Unsettled","confirmationState":"Strong support","riskState":"Contained","intensityState":"Quiet"},"cards":[{"label":"SM Consensus Gauge","value":"+28.2","detail":"Joint upward confirmation","tone":"positive"},{"label":"SM Control Gauge","value":"+27.6","detail":"Buyer control supports the view","tone":"positive"},{"label":"SM Force Gauge","value":"+16.0","detail":"Upward commitment","tone":"positive"},{"label":"SM Direction Gauge","value":"+37.5","detail":"Upward follow-through","tone":"positive"},{"label":"SM Confirmation Gauge","value":"85/100","detail":"Strong support","tone":"positive"}]},"kpis":[{"label":"Price structure","value":"Aligned upward","detail":"completed-week alignment","tone":"positive"},{"label":"Momentum","value":"55.2","detail":"Positive","tone":"positive"},{"label":"Risk pressure","value":"7.4%","detail":"Normal","tone":"neutral"},{"label":"Trend quality","value":"10.1","detail":"Range-led","tone":"neutral"},{"label":"Range position","value":"76%","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 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