{"schema_version":"1.0","name":"IQMA Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"385d446c-b291-48ad-936e-a31dbd37ace6","symbol":"IQMA","name":"Invesco Emerging Markets Enhanced Equity UCITS ETF USD Acc","exchange":"MIL","country":"IT","asset_type":"etf","currency":"EUR","sector":null,"industry":null},"summary":"Market Dynamics weakened this week and remains below zero. Underlying support has contracted across the recent completed path. The upward price structure is leading its underlying support.","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, Directional strength and control, Range position and boundary pressure, 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":46,"displayedObservations":46,"assetType":"ETF","state":"Aligned upward","stateTone":"positive","summary":"Market Dynamics weakened this week and remains below zero. Underlying support has contracted across the recent completed path. The upward price structure is leading its underlying support.","evidenceAlignment":{"status":"Price ahead of underlying support","headline":"The upward price response is leading Market Dynamics","summary":"Market Dynamics weakened this week and remains below zero. Underlying support has contracted across the recent completed path. The upward price structure is leading its underlying support.","take":"Treat the gap as an early-downside risk watch. Stronger Market Dynamics would confirm the price move; a weaker price response would confirm that the gap is closing through correction.","tone":"caution","conflict":true},"marketDynamics":{"available":true,"readAvailable":true,"dates":["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"],"values":[0.336415,0.455097,0.630273,0.723256,0.874613,1.057464,1.03009,1.146554,1.159982,1.080614,1.122411,1.027015,0.682741,0.388975,0.065692,-0.231634,-0.238962,-0.29424],"opens":[5.107,5.232,5.332,5.56,5.465,5.63,5.664,5.653,6.068,5.816,5.814,5.762,5.387,5.473,5.595,5.524,5.592,5.759],"highs":[5.205,5.232,5.569,5.576,5.559,5.795,5.664,5.765,6.069,5.831,5.855,5.781,5.443,5.884,5.595,5.655,5.73,5.797],"lows":[5.107,5.161,5.292,5.417,5.309,5.63,5.592,5.653,6.018,5.777,5.814,5.762,5.34,5.473,5.288,5.44,5.566,5.566],"closes":[5.208,5.205,5.53,5.437,5.545,5.736,5.592,5.765,6.018,5.831,5.849,5.781,5.438,5.543,5.475,5.578,5.686,5.672],"hoverRows":[[{"label":"Open","value":"5.11","className":"is-ohlc","compact":true},{"label":"High","value":"5.21","className":"is-ohlc","compact":true},{"label":"Low","value":"5.11","className":"is-ohlc","compact":true},{"label":"Close","value":"5.21","className":"is-ohlc","compact":true},{"label":"Market 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but easing","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"5.52","className":"is-ohlc","compact":true},{"label":"High","value":"5.66","className":"is-ohlc","compact":true},{"label":"Low","value":"5.44","className":"is-ohlc","compact":true},{"label":"Close","value":"5.58","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.23","note":"Cautious and weakening","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"5.59","className":"is-ohlc","compact":true},{"label":"High","value":"5.73","className":"is-ohlc","compact":true},{"label":"Low","value":"5.57","className":"is-ohlc","compact":true},{"label":"Close","value":"5.69","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.24","note":"Cautious and weakening","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"5.76","className":"is-ohlc","compact":true},{"label":"High","value":"5.80","className":"is-ohlc","compact":true},{"label":"Low","value":"5.57","className":"is-ohlc","compact":true},{"label":"Close","value":"5.67","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.29","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":[5.15622,6.06678],"zones":{"accumulationBoundary":-1.5,"accumulationDarkBoundary":-2.0,"distributionBoundary":1.5,"distributionDarkBoundary":2.0},"latest":-0.29424,"state":"Price is moving ahead of Market Dynamics","context":{"scenario":"priceAhead","latestDirection":"easing","fourWeekDirection":"weakening","now":{"label":"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 is ahead of the underlying support","detail":"Price is extended relative to Market Dynamics. The gap is a downside-risk warning until support catches up or price resets."}},"diagnosis":{"label":"Price response ahead of support","detail":"Price has advanced further through its recent range than Market Dynamics. The gap is an early-downside risk watch; stronger underlying support or a price reset is needed to close it.","tone":"caution"},"chartSummary":"Price is between the outer positioning zones. The Market Dynamics bars show whether underlying support is strengthening or weakening.","summary":"Price has advanced further through its recent range than Market Dynamics. The gap is an early-downside risk watch; stronger underlying support or a price reset is needed to close it.","annotations":[{"label":"Current tape relationship","value":"Price response ahead of support","detail":"Market Dynamics weakened this week and remains below zero.","tone":"caution"},{"label":"Price location","value":"Between zones","detail":"Price is travelling between the two major positioning zones.","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":"Lagging price","detail":"Price is extended relative to Market Dynamics. The gap is a downside-risk warning until support catches up or price resets.","tone":"negative"}],"relationshipEvidence":{"available":false,"observations":18,"summary":"More completed weekly history is needed for a dependable ticker-level record."},"events":{"positioning_recoveries":[],"reversal_warnings":[{"date":"2026-05-29","price":5.736}],"reversal_dangers":[{"date":"2026-06-19","price":6.018}]}},"smTape":{"available":true,"dates":["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","2026-08-21"],"close":[4.4,4.3675,4.4145,4.488,4.3615,4.4465,4.3515,4.3375,4.3375,4.3405,4.3675,4.387,4.4655,4.6545,4.741,4.7755,4.802,4.8385,4.9175,5.057,5.092,4.767,4.787,4.6985,4.6365,4.784,4.972,5.198,5.208,5.205,5.53,5.437,5.545,5.736,5.592,5.765,6.018,5.831,5.849,5.781,5.438,5.543,5.475,5.578,5.686,5.672],"consensus":[46.6667,-73.3333,63.3333,0.0,-68.4544,33.6713,-55.8835,-52.8796,-28.9161,-34.8537,22.7153,33.9446,74.252,88.1986,78.5177,74.4167,60.1447,68.1607,68.2063,87.625,56.2987,-38.7884,0.0,-48.0026,-33.658,32.347,63.3188,78.3798,56.0339,38.2156,81.2839,13.8283,71.3775,71.7061,0.0,68.8316,42.9555,32.439,47.7333,30.1924,-31.5006,0.0,-31.1501,8.6317,42.2059,6.9378],"supportDates":["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","2026-08-21"],"control":[null,null,null,null,null,22.3141,-55.3741,-53.8099,-25.6847,-18.3152,14.1283,22.6205,73.6756,87.265,68.9814,75.0044,49.4041,70.9686,72.1497,88.2094,39.332,-39.7856,0.0,-40.6568,-24.6166,41.352,57.5786,81.177,63.2461,35.0889,82.9996,1.2448,68.8566,66.524,0.0,80.0955,30.9554,37.8934,51.8117,41.7843,-20.3167,0.0,-18.2387,18.8469,36.1355,3.0354],"force":[46.6667,-73.3333,63.3333,0.0,-55.1363,21.4143,-53.27,-34.3463,-5.051,-31.4292,68.3621,60.961,82.0894,95.0544,84.2448,58.8559,54.2358,51.9032,48.0066,95.5048,50.1643,-91.9212,0.0,-81.4519,-32.8038,48.408,93.0149,96.8811,35.0587,9.8278,93.8015,33.7297,81.183,81.0245,0.0,52.9841,21.944,5.6806,23.5002,2.4688,-37.0818,0.0,-47.1267,26.2176,70.1034,4.8537],"direction":[null,null,null,null,-77.9673,55.4059,-58.3324,-65.0545,-49.6557,-56.2008,0.076,27.5889,69.3125,84.3686,85.3257,84.8598,76.6403,76.5643,78.1279,81.3286,80.0709,-0.3033,0.0,-32.5055,-44.6012,10.5835,48.6676,61.9677,62.7738,62.0661,70.382,65.0248,67.2545,70.9726,0.0,67.2783,71.6781,53.4338,60.3816,36.7472,-40.2957,0.0,-34.4942,15.6043,29.2167,19.82],"intensity":[null,null,null,null,100.0,60.0,83.3333,42.8571,12.5,77.7778,100.0,54.5455,66.6667,100.0,92.8571,26.6667,62.5,17.6471,61.1111,89.4737,90.0,100.0,68.1818,39.1304,91.6667,84.0,96.1538,96.2963,85.7143,17.2414,96.6667,54.8387,53.125,93.9394,70.5882,80.0,100.0,86.4865,10.5263,20.5128,100.0,100.0,85.7143,65.1163,50.0,17.7778],"confirmation":[37.6,46.1333,42.9333,2.1694,66.6299,78.5743,85.8108,84.3425,53.9084,79.3008,54.1404,79.8582,92.0083,96.4467,93.4455,91.3301,87.2299,89.2732,89.1503,96.2712,86.0872,59.4144,48.1558,84.4922,78.8823,78.7033,89.2545,93.6028,85.1817,79.4115,94.3662,10.6666,91.178,91.3089,32.8151,89.3715,81.2883,55.6808,82.474,53.9734,78.4207,7.2276,78.6517,29.138,82.4486,18.4481],"persistence":[null,null,33.3333,25.0,0.0,16.6667,0.0,12.5,37.5,37.5,37.5,25.0,0.0,0.0,25.0,50.0,75.0,100.0,100.0,100.0,100.0,75.0,62.5,37.5,12.5,12.5,12.5,12.5,12.5,37.5,50.0,75.0,100.0,100.0,87.5,87.5,87.5,87.5,87.5,87.5,62.5,50.0,37.5,37.5,37.5,25.0],"assessmentRisk":[null,null,null,null,11.3594,21.1578,4.3042,21.6792,1.7719,28.4692,0.7768,16.2017,11.155,5.8688,10.7339,12.7868,19.9115,15.6125,15.5194,6.1829,21.8488,8.2136,43.6499,25.7527,33.115,9.4459,13.3609,10.7461,21.9606,30.6844,9.2751,38.1353,12.8334,13.9832,17.9767,14.6308,28.4054,11.1487,22.643,9.9978,34.0797,47.997,32.7029,46.4192,24.1892,29.485],"volumeParticipation":true,"latest":{"consensus":6.9,"control":3.0,"force":4.9,"direction":19.8,"confirmation":18.4,"persistence":25.0,"assessmentRisk":29.5,"intensity":17.8,"evidenceDepth":100},"analysis":{"status":"Price structure has stronger support","headline":"The gauges support the price-technical view","summary":"Price structure and Market Dynamics disagree. The completed evidence gives the upward price structure stronger support.","take":"Current assessment: price structure remains primary, but the disagreement lowers confirmation.","tone":"positive","supportedView":"Price structure","direction":"upward","disagreement":true},"support":{"window":"Latest 12 months","controlState":"Control support is limited","controlPath":"Broadly stable","forceState":"Commitment is limited","forcePath":"Broadly stable","directionState":"Upward follow-through","persistenceState":"Unsettled","confirmationState":"Limited support","riskState":"Contained","intensityState":"Quiet"},"cards":[{"label":"SM Consensus Gauge","value":"+6.9","detail":"Price structure has stronger support","tone":"positive"},{"label":"SM Control Gauge","value":"+3.0","detail":"Control support is limited","tone":"positive"},{"label":"SM Force Gauge","value":"+4.9","detail":"Commitment is limited","tone":"positive"},{"label":"SM Direction Gauge","value":"+19.8","detail":"Upward follow-through","tone":"positive"},{"label":"SM Confirmation Gauge","value":"18/100","detail":"Limited support","tone":"caution"}]},"kpis":[{"label":"Price structure","value":"Aligned upward","detail":"completed-week alignment","tone":"positive"},{"label":"Momentum","value":"59.0","detail":"Positive","tone":"positive"},{"label":"Risk pressure","value":"3.7%","detail":"Elevated","tone":"caution"},{"label":"Trend quality","value":"30.7","detail":"Directional","tone":"positive"},{"label":"Range position","value":"74%","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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Market Dynamics construction and private inputs are not disclosed. Historical research is not a forecast or instruction to trade."}