{"schema_version":"1.0","name":"HD Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"33df7af2-e7da-45af-8efc-7b29a95aad2a","symbol":"HD","name":"The Home Depot, Inc.","exchange":"TOR","country":"CA","asset_type":"etf","currency":"CAD","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, Activity pressure and cumulative balance, Range pressure and compression, Drawdown and recovery pressure, Directional strength and control, Acceleration, deceleration and rollover."},{"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":35,"displayedObservations":35,"assetType":"ETF","state":"Aligned downward","stateTone":"negative","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 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Market Dynamics history is not yet sufficient to confirm or challenge that progression.","annotations":[{"label":"Current tape relationship","value":"Zone progression","detail":"Market Dynamics strengthened this week and remains positive.","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 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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.","invalidate":"Reassess the reading when either price structure or the Market Dynamics state changes materially.","level":"positive","direction":"strengthening","zone":"middle","zoneContext":"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.","historical":{"label":"Broad directional cases","weeks":12,"direction":"lower","sample":0},"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 structure is downward","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":"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":"The current relationship is visible, but this ticker does not yet have a completed comparable outcome.","watch":"Reassess the reading when either price structure or the Market Dynamics state changes materially."}]},"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":["2025-12-26","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":[21.676,21.5468,23.325,23.6529,23.8515,23.2754,23.9409,24.2688,23.7323,23.633,22.2224,21.19,20.07,20.08,19.9215,20.8446,21.6089,20.7652,20.0505,19.6436,18.373,19.3259,19.5741,19.23,20.38,20.55,21.64,21.95,21.3,20.98,20.59,20.65,21.95,20.94,20.77],"consensus":[93.7494,8.0,96.3963,39.5872,69.6985,15.3426,59.3077,59.4667,0.0,14.761,-64.2725,-79.6695,-84.5472,-58.7686,-56.3619,10.344,35.0792,-37.9131,-48.2444,-50.7148,-79.9012,0.0,-12.7129,-38.9783,27.0021,0.0,48.7751,24.9833,23.1387,0.0,-26.8705,-14.3375,59.688,-26.7203,-8.0849],"supportDates":["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,7.7127,62.6767,59.4388,0.0,6.1157,-52.8518,-74.8235,-81.9459,-60.4581,-52.4818,16.2848,31.3466,-49.3035,-54.6272,-42.8558,-82.4033,0.0,-11.2551,-47.086,25.2417,0.0,51.7034,10.6528,22.7901,0.0,-17.4797,-10.8697,61.4688,-30.7631,-11.2068],"force":[93.7494,8.0,96.3963,39.5872,28.0415,21.8344,39.8768,45.3424,0.0,6.5376,-86.0482,-93.8478,-95.1376,-29.775,-34.7347,73.1378,70.0712,-52.8429,-58.8536,-56.2669,-94.7126,0.0,-19.1086,-24.1363,36.477,0.0,39.1493,3.1671,1.9075,0.0,-54.5556,-15.7033,79.0214,-62.9582,-17.4538],"direction":[null,null,null,null,99.4535,68.2467,69.3368,69.5873,0.0,39.8546,-61.7708,-75.0805,-79.9556,-77.5475,-76.2444,41.2982,14.3509,-14.2314,-33.3718,-55.7307,-66.462,0.0,-37.1087,-40.3137,22.2462,0.0,52.3042,56.9441,38.7024,0.0,-17.8278,-17.3251,43.8432,-3.7842,-2.1749],"intensity":[null,null,null,null,50.0,60.0,66.6667,28.5714,50.0,22.2222,80.0,72.7273,66.6667,53.8462,28.5714,66.6667,68.75,58.8235,66.6667,47.3684,85.0,61.9048,72.7273,13.0435,79.1667,24.0,65.3846,40.7407,60.7143,34.4828,56.6667,25.8065,90.625,60.6061,23.5294],"confirmation":[52.6665,25.2267,53.5135,35.3346,65.7325,10.4313,86.335,86.5993,31.8286,28.2675,89.4049,94.0002,95.4175,85.8966,85.4358,36.6102,80.3486,80.4136,83.6643,84.5177,93.9816,37.0562,29.8637,79.8972,76.9563,4.0928,83.2701,52.8815,52.096,29.6732,77.5854,72.6825,87.6622,55.7339,48.6224],"persistence":[null,null,100.0,100.0,100.0,100.0,100.0,100.0,87.5,87.5,62.5,37.5,12.5,12.5,37.5,37.5,25.0,50.0,50.0,50.0,50.0,37.5,37.5,62.5,62.5,50.0,25.0,0.0,25.0,25.0,25.0,25.0,25.0,12.5,12.5],"assessmentRisk":[null,null,null,null,14.8897,41.0648,4.5685,6.1844,6.4005,16.9324,16.4911,10.1064,7.7089,20.5995,21.4688,28.5395,31.1177,55.6813,32.7996,21.6943,10.0396,49.2419,20.1399,5.7739,35.8881,44.1463,25.1152,37.4175,30.023,29.5094,31.4843,40.5959,5.16,10.5578,16.9123],"volumeParticipation":true,"latest":{"consensus":-8.1,"control":-11.2,"force":-17.5,"direction":-2.2,"confirmation":48.6,"persistence":12.5,"assessmentRisk":16.9,"intensity":23.5,"evidenceDepth":100},"analysis":{"status":"Price structure has the available support","headline":"The gauges support the price-technical view","summary":"Market Dynamics does not provide a directional confirmation. The completed evidence supports the downward price structure.","take":"Current assessment: follow price structure with limited confirmation.","tone":"negative","supportedView":"Price structure","direction":"downward","disagreement":false},"support":{"window":"Latest 12 months","controlState":"Control support is limited","controlPath":"Broadly stable","forceState":"Downward commitment","forcePath":"Commitment is easing","directionState":"Follow-through is limited","persistenceState":"Unsettled","confirmationState":"Qualified support","riskState":"Contained","intensityState":"Quiet"},"cards":[{"label":"SM Consensus Gauge","value":"-8.1","detail":"Price structure has the available support","tone":"negative"},{"label":"SM Control Gauge","value":"-11.2","detail":"Control support is limited","tone":"negative"},{"label":"SM Force Gauge","value":"-17.5","detail":"Downward commitment","tone":"negative"},{"label":"SM Direction Gauge","value":"-2.2","detail":"Follow-through is limited","tone":"negative"},{"label":"SM Confirmation Gauge","value":"49/100","detail":"Qualified support","tone":"neutral"}]},"kpis":[{"label":"Price structure","value":"Aligned downward","detail":"completed-week alignment","tone":"negative"},{"label":"Momentum","value":"47.6","detail":"Negative","tone":"negative"},{"label":"Risk pressure","value":"5.0%","detail":"Elevated","tone":"caution"},{"label":"Trend quality","value":"18.2","detail":"Range-led","tone":"neutral"},{"label":"Range position","value":"43%","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 downward.","series":[{"label":"Close","values":[21.676,21.5468,23.325,23.6529,23.8515,23.2754,23.9409,24.2688,23.7323,23.633,22.2224,21.19,20.07,20.08,19.9215,20.8446,21.6089,20.7652,20.0505,19.6436,18.373,19.3259,19.5741,19.23,20.38,20.55,21.64,21.95,21.3,20.98,20.59,20.65,21.95,20.94,20.77],"stroke":"#10243b","width":2.1},{"label":"Fast trend","values":[null,null,null,null,22.5535,22.6847,22.9131,23.1596,23.2637,23.3309,23.1293,22.7767,22.2846,21.8838,21.527,21.4029,21.4404,21.3176,21.0872,20.8247,20.379,20.1875,20.076,19.9222,20.0054,20.1044,20.3836,20.6684,20.7832,20.819,20.7774,20.7542,20.9716,20.9659,20.9303],"stroke":"#176fa3","width":1.7},{"label":"Slow trend","values":[null,null,null,null,null,null,null,null,null,null,null,null,22.3038,22.1391,21.9748,21.8911,21.8702,21.7883,21.6596,21.5103,21.2779,21.1333,21.0178,20.8854,20.8479,20.8259,20.8862,20.965,20.9898,20.9891,20.9595,20.9366,21.0116,21.0063,20.9888],"stroke":"#07865c","width":1.8},{"label":"Upper envelope","values":[null,null,null,null,null,null,null,null,null,25.0551,24.9845,25.0677,25.3146,25.4043,25.4436,25.3476,25.2346,25.1503,25.1148,25.1023,25.3066,25.3574,25.1995,24.9662,24.6146,24.3397,23.9576,23.4743,23.0036,22.442,22.1928,22.1335,22.3488,22.3935,22.4188],"stroke":"#98a9b8","width":1.0,"dash":[6,5]},{"label":"Lower envelope","values":[null,null,null,null,null,null,null,null,null,21.5254,21.4019,20.9848,20.2831,19.805,19.4079,19.3063,19.3349,19.2502,19.0595,18.8277,18.2931,18.0201,17.8029,17.594,17.5984,17.6007,17.7527,18.0042,18.2317,18.5279,18.614,18.6193,18.5919,18.6333,18.6928],"stroke":"#98a9b8","width":1.0,"dash":[6,5]}],"guides":[],"dates":["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,37.7232,31.0345,54.5084,63.4945,284.8723,142.6674,87.6737,91.9421,139.6584,91.7611,84.7284,127.1616,215.6641,322.461,120.7727,154.1743,8.8011,10.101,2.1657,14.7031,2.4231,13.6459,26.0365,298.9558,147.0811,92.9286,93.9459,165.1431],"stroke":"#1678a7","width":1.8},{"label":"Cumulative balance","values":[null,null,null,null,null,null,null,135.0,132.323,127.8473,122.8174,95.6917,81.6059,90.1808,81.2399,95.1897,104.3083,95.9635,83.2477,65.0,65.0,71.7301,79.695,79.2451,79.7547,79.8603,80.5673,80.6821,80.0393,78.8228,65.0,72.12,76.5544,72.025,65.0],"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],"stroke":"#8fa0af","width":1.0,"dash":[6,5]}],"dates":["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,4.3837,4.3877,4.4244,4.3207,4.5712,4.7814,4.9036,5.366,5.3387,5.1734,5.0362,4.8648,4.6885,4.5238,4.3626,4.4496,4.5148,4.636,4.6901,4.5528,4.9022,4.9848],"stroke":"#c13f3f","width":1.9},{"label":"Envelope width","values":[null,null,null,null,null,null,null,null,null,15.1556,15.4465,17.7312,22.0691,24.7707,26.9141,27.0581,26.4742,26.5767,27.4152,28.5664,32.1722,33.8302,34.4008,34.6439,33.2416,32.1359,29.7523,26.3759,23.1446,19.1073,17.5403,17.2466,18.3529,18.3306,18.1262],"stroke":"#b87806","width":1.7}],"guides":[],"dates":["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":"drawdown","eyebrow":"Path risk","title":"Drawdown and recovery pressure","description":"Capital impairment and recovery are shown together so return is not separated from path difficulty.","reason":"Selected because the current recovery or drawdown path is central to the tape.","series":[{"label":"Drawdown","values":[0.0,-0.5958,0.0,0.0,0.0,-2.4157,0.0,0.0,-2.2104,-2.6197,-8.4323,-12.6861,-17.3011,-17.2599,-17.9131,-14.1093,-10.96,-14.4365,-17.3813,-19.0583,-24.2935,-20.3671,-19.3446,-20.7623,-16.0237,-15.3233,-10.8319,-9.5545,-12.2329,-13.5514,-15.1584,-14.9112,-9.5545,-13.7162,-14.4167],"stroke":"#c13f3f","width":1.9,"fill":"rgba(193,63,63,.10)"},{"label":"Recovery","values":[null,null,null,null,null,null,null,12.6325,10.1429,9.6819,3.1351,0.0,0.0,0.0498,0.0,4.6338,8.4704,4.2352,0.6477,0.0,0.0,5.1864,6.537,4.6643,10.9235,11.8487,17.7813,19.4686,15.9308,14.1891,12.0664,12.393,19.4686,13.9714,13.0461],"stroke":"#07865c","width":1.7}],"guides":[{"label":"Prior high","values":[0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0],"stroke":"#8fa0af","width":1.0,"dash":[6,5]}],"dates":["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,28.0506,27.1614,25.3477,24.2497,22.8046,21.4216,20.5706,19.5138,18.2326],"stroke":"#10243b","width":2.0},{"label":"Positive direction","values":[null,null,null,null,null,null,null,null,null,null,null,null,null,11.6661,10.9091,13.6752,17.4033,16.7917,15.4382,14.2677,12.9441,11.4854,12.8266,12.4538,18.645,21.2259,24.8707,28.0102,26.2791,28.7901,26.528,28.1869,28.6542,25.9027,23.8476],"stroke":"#07865c","width":1.6},{"label":"Negative 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