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evidence"}],"path":[{"week":0,"sample":0},{"week":1,"averageReturn":-4.4,"sample":4},{"week":2,"averageReturn":-8.4,"sample":4},{"week":3,"averageReturn":2.8,"sample":4},{"week":4,"averageReturn":-6.7,"sample":4},{"week":5,"averageReturn":3.9,"sample":4},{"week":6,"averageReturn":9.0,"sample":3},{"week":7,"averageReturn":0.3,"sample":3},{"week":8,"averageReturn":1.4,"sample":3},{"week":9,"averageReturn":2.1,"sample":2},{"week":10,"averageReturn":-8.5,"sample":2},{"week":11,"averageReturn":-1.5,"sample":2},{"week":12,"averageReturn":-14.6,"sample":2},{"week":13,"averageReturn":-0.5,"sample":2},{"week":14,"averageReturn":5.1,"sample":2},{"week":15,"averageReturn":8.4,"sample":2},{"week":16,"averageReturn":-7.8,"sample":1},{"week":17,"averageReturn":-3.3,"sample":1},{"week":18,"averageReturn":-18.7,"sample":1},{"week":19,"averageReturn":-26.7,"sample":1},{"week":20,"averageReturn":-29.3,"sample":1},{"week":21,"averageReturn":-11.7,"sample":1},{"week":22,"averageReturn":-12.5,"sample":1},{"week":23,"averageReturn":-7.4,"sample":1},{"week":24,"sample":0},{"week":25,"sample":0},{"week":26,"sample":0}]}},"pricePressureGap":{"label":"Price elevated relative to Market Dynamics","kind":"structuralDivergence","expectedDirection":"lower","episodes":1,"completedEpisodes":1,"activeEpisodes":0,"medianExpectedMove":42.3,"averageExpectedMove":42.3,"averageWeeksToLargestMove":12.0,"horizons":[{"weeks":4,"sample":1,"expectedCount":1,"expectedPercent":100.0,"averageReturn":-20.1,"medianReturn":-20.1,"confidenceLow":20.7,"confidenceHigh":100.0,"confidence":"Mixed historical record"},{"weeks":12,"sample":1,"expectedCount":1,"expectedPercent":100.0,"averageReturn":-42.3,"medianReturn":-42.3,"confidenceLow":20.7,"confidenceHigh":100.0,"confidence":"Mixed historical record"},{"weeks":26,"sample":1,"expectedCount":1,"expectedPercent":100.0,"averageReturn":-30.1,"medianReturn":-30.1,"confidenceLow":20.7,"confidenceHigh":100.0,"confidence":"Mixed historical record"}],"path":[{"week":0,"sample":0},{"week":1,"averageReturn":-6.1,"sample":1},{"week":2,"averageReturn":-19.2,"sample":1},{"week":3,"averageReturn":-8.7,"sample":1},{"week":4,"averageReturn":-20.1,"sample":1},{"week":5,"averageReturn":-27.4,"sample":1},{"week":6,"averageReturn":-41.8,"sample":1},{"week":7,"averageReturn":-37.2,"sample":1},{"week":8,"averageReturn":-34.5,"sample":1},{"week":9,"averageReturn":-7.3,"sample":1},{"week":10,"averageReturn":-16.9,"sample":1},{"week":11,"averageReturn":-36.4,"sample":1},{"week":12,"averageReturn":-42.3,"sample":1},{"week":13,"averageReturn":-43.7,"sample":1},{"week":14,"averageReturn":-43.7,"sample":1},{"week":15,"averageReturn":-23.7,"sample":1},{"week":16,"averageReturn":-41.8,"sample":1},{"week":17,"averageReturn":-38.7,"sample":1},{"week":18,"averageReturn":-28.8,"sample":1},{"week":19,"averageReturn":-29.1,"sample":1},{"week":20,"averageReturn":-26.3,"sample":1},{"week":21,"averageReturn":-22.7,"sample":1},{"week":22,"averageReturn":-35.1,"sample":1},{"week":23,"averageReturn":-41.4,"sample":1},{"week":24,"averageReturn":-43.5,"sample":1},{"week":25,"averageReturn":-29.4,"sample":1},{"week":26,"averageReturn":-30.1,"sample":1}]},"currentApplication":{"status":"Evidence developing","tone":"neutral","headline":"Market Dynamics is negative while price remains rotational","use":"Treat the pressure as context until price establishes a clear response.","confirm":"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.","invalidate":"Reassess the reading when either price structure or the Market Dynamics state changes materially.","level":"positive","direction":"steady","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":"Little changed this week","detail":"Market Dynamics remains positive and was little changed this week."},"fourWeekContext":{"label":"Broadly steady over four weeks","detail":"The broader path has not changed enough to establish a new direction."},"priceContext":{"label":"Price has no clear direction","detail":"Price remains rotational while the Market Dynamics condition develops."}},"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."},{"eyebrow":"Zone positioning","title":"Use accumulation to prepare the long case, then wait for confirmation","tone":"positive","finding":"After accumulation, 50.0% of completed 12-week outcomes were higher across 2 cases. Distinct visits lasted 1.8 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."}]},"summary":"This record compares the ticker's completed price path with its published Market Dynamics history."},"events":{"positioning_recoveries":[],"reversal_warnings":[{"date":"2026-02-13","price":21.165049}],"reversal_dangers":[{"date":"2026-02-20","price":19.878375}]}},"smTape":{"available":true,"dates":["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":[21.165,19.8784,17.0934,19.3157,16.9079,15.3745,12.3248,13.3005,13.8702,19.6156,17.5848,13.452,12.2164,11.9075,11.9102,16.1523,12.3177,12.9737,15.0662,15.0047,15.59,16.3529,13.745,12.3988,11.9595,14.9378,14.7865,15.6496],"consensus":[-43.5753,-49.6708,-65.3263,36.0268,-56.1762,-46.8019,-63.1169,-21.9241,-29.9299,57.2135,-8.5289,-48.8736,-48.3708,-42.7798,-31.9485,46.9357,-45.0008,0.0,29.9499,0.0,16.1119,24.6185,-31.294,-36.7086,-25.6988,23.0303,8.0381,27.6042],"supportDates":["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,-46.344,-69.6436,-6.9127,-25.9403,45.8932,-20.88,-47.0321,-48.3247,-36.5733,-23.1553,39.3545,-46.4881,0.0,17.9048,0.0,8.6191,17.8362,-32.613,-42.6025,-21.0423,33.0753,6.8733,25.2869],"force":[-43.5753,-49.6708,-65.3263,36.0268,-33.8843,-29.7567,-44.8745,-14.0351,-5.4783,90.617,-37.241,-76.4554,-49.6912,-26.2775,-10.14,84.8282,-78.0707,0.0,64.0842,0.0,15.9465,27.4963,-52.8522,-37.4431,-22.0561,38.525,3.6704,29.4255],"direction":[null,null,null,null,-72.099,-59.5003,-68.6881,-64.7652,-51.9548,46.2913,-26.0954,-31.2769,-47.4804,-61.6602,-57.5753,28.5338,-19.6796,0.0,19.3341,0.0,24.7933,30.3141,-14.388,-29.4481,-33.6224,0.4827,12.4891,28.9516],"intensity":[null,null,null,null,75.0,20.0,100.0,71.4286,75.0,100.0,90.0,90.9091,83.3333,7.6923,7.1429,80.0,75.0,64.7059,44.4444,10.5263,20.0,19.0476,50.0,56.5217,37.5,68.0,23.0769,18.5185],"confirmation":[36.6108,38.5613,43.5711,34.1952,62.2907,82.4641,87.542,9.1427,54.2265,87.4988,31.6498,84.5082,83.5196,81.2812,77.6929,84.2898,83.3854,3.9073,78.8078,24.0451,73.2649,76.069,78.651,79.6793,76.1835,53.0222,25.1235,55.0],"persistence":[null,null,100.0,50.0,60.0,66.6667,71.4286,75.0,75.0,50.0,50.0,75.0,75.0,75.0,75.0,50.0,50.0,62.5,37.5,25.0,0.0,25.0,25.0,0.0,0.0,12.5,12.5,25.0],"assessmentRisk":[null,null,null,null,20.5851,25.9737,17.9881,38.8891,31.6222,17.2308,52.4781,27.21,3.7896,28.3921,32.9364,14.3232,24.2954,17.349,25.3386,22.0885,33.9182,30.2166,10.8116,22.9767,34.8567,41.2213,19.2464,32.0412],"volumeParticipation":true,"latest":{"consensus":27.6,"control":25.3,"force":29.4,"direction":29.0,"confirmation":55.0,"persistence":25.0,"assessmentRisk":32.0,"intensity":18.5,"evidenceDepth":100},"analysis":{"status":"Completed tape has stronger support","headline":"The gauges support the upward view","summary":"The completed evidence gives the upward view the clearer support.","take":"Current assessment: upward pressure has the stronger support.","tone":"positive","supportedView":"Completed tape","direction":"upward","disagreement":false},"support":{"window":"Latest 12 months","controlState":"Buyer control supports the view","controlPath":"Control support is easing","forceState":"Upward commitment","forcePath":"Broadly stable","directionState":"Upward follow-through","persistenceState":"Unsettled","confirmationState":"Qualified support","riskState":"Contained","intensityState":"Quiet"},"cards":[{"label":"SM Consensus Gauge","value":"+27.6","detail":"Completed tape has stronger support","tone":"positive"},{"label":"SM Control Gauge","value":"+25.3","detail":"Buyer control supports the view","tone":"positive"},{"label":"SM Force Gauge","value":"+29.4","detail":"Upward commitment","tone":"positive"},{"label":"SM Direction Gauge","value":"+29.0","detail":"Upward follow-through","tone":"positive"},{"label":"SM Confirmation Gauge","value":"55/100","detail":"Qualified support","tone":"neutral"}]},"kpis":[{"label":"Price structure","value":"Rotational","detail":"completed-week alignment","tone":"caution"},{"label":"Momentum","value":"44.9","detail":"Negative","tone":"negative"},{"label":"Risk pressure","value":"21.4%","detail":"Contained","tone":"neutral"},{"label":"Trend quality","value":"15.7","detail":"Range-led","tone":"neutral"},{"label":"Range position","value":"51%","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":[21.165,19.8784,17.0934,19.3157,16.9079,15.3745,12.3248,13.3005,13.8702,19.6156,17.5848,13.452,12.2164,11.9075,11.9102,16.1523,12.3177,12.9737,15.0662,15.0047,15.59,16.3529,13.745,12.3988,11.9595,14.9378,14.7865,15.6496],"stroke":"#10243b","width":2.1},{"label":"Fast trend","values":[null,null,null,null,19.4922,18.7435,17.5765,16.799,16.2665,16.8754,17.0044,16.3585,15.6054,14.9331,14.3834,14.7051,14.271,14.0351,14.2226,14.3648,14.5876,14.9085,14.697,14.2791,13.8574,14.0538,14.187,14.453],"stroke":"#176fa3","width":1.7},{"label":"Slow trend","values":[null,null,null,null,null,null,null,null,null,null,null,null,17.7786,17.3437,16.9412,16.8828,16.5446,16.2801,16.1902,16.1024,16.0644,16.0858,15.9124,15.6521,15.3786,15.346,15.3045,15.3301],"stroke":"#07865c","width":1.8},{"label":"Upper envelope","values":[null,null,null,null,null,null,null,null,null,22.7396,22.5453,22.3535,22.2781,22.1787,22.0357,21.8654,21.6974,21.4967,21.3183,21.1513,20.2301,19.6074,19.3555,18.6074,18.3236,18.2805,18.3269,18.4627],"stroke":"#98a9b8","width":1.0,"dash":[6,5]},{"label":"Lower envelope","values":[null,null,null,null,null,null,null,null,null,11.0296,11.3513,10.9603,10.3525,9.8223,9.4199,9.6433,9.407,9.3212,9.4635,9.5918,9.9556,10.2257,10.1427,10.1992,9.9882,9.9876,10.1874,10.2865],"stroke":"#98a9b8","width":1.0,"dash":[6,5]}],"guides":[],"dates":["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 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