{"schema_version":"1.0","name":"INFEA Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"3fb98305-bfb3-43d0-9c80-33e57554d506","symbol":"INFEA","name":"Horizon Kinetics Full-Cycle Inf","exchange":"AMS","country":"NL","asset_type":"etf","currency":"EUR","sector":null,"industry":null},"summary":"Market Dynamics improved this week but remains below zero. Underlying support has strengthened across the recent completed path. Price remains elevated in the distribution zone.","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, Range position and boundary pressure, Directional strength and control, Directional pressure and rotation, Range pressure and compression, 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":42,"displayedObservations":42,"assetType":"ETF","state":"Aligned upward","stateTone":"positive","summary":"Market Dynamics improved this week but remains below zero. Underlying support has strengthened across the recent completed path. Price remains elevated in the distribution zone.","evidenceAlignment":{"status":"Material conflict","headline":"Upward price structure is not confirmed by Market Dynamics","summary":"Market Dynamics improved this week but remains below zero. Underlying support has strengthened across the recent completed path. Price remains elevated in the distribution zone.","take":"The divergence must narrow through either a recovery in Market Dynamics or weaker price. In this configuration, price reversal is the principal risk, so the upward alignment should be treated as vulnerable rather than confirmed.","tone":"negative","conflict":true},"marketDynamics":{"available":true,"readAvailable":true,"dates":["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":[-0.196499,-0.278362,-0.412369,-0.49737,-0.58354,-0.598891,-0.594198,-0.632727,-0.631765,-0.754611,-0.733371,-0.690171,-0.741138,-0.610476],"opens":[38.334999,38.334999,37.974998,37.974998,37.974998,37.974998,37.974998,37.974998,37.974998,37.974998,37.974998,37.974998,37.974998,38.59],"highs":[38.334999,38.334999,37.974998,37.974998,37.974998,37.974998,37.974998,37.974998,37.974998,37.974998,37.974998,37.974998,37.974998,40.16],"lows":[38.334999,37.764999,37.974998,37.974998,37.974998,37.974998,37.974998,37.974998,37.974998,37.974998,37.974998,37.974998,37.974998,38.59],"closes":[38.334999,37.974998,37.974998,37.974998,37.974998,37.974998,37.974998,37.974998,37.974998,37.974998,37.974998,37.974998,37.974998,40.16],"hoverRows":[[{"label":"Open","value":"38.3","className":"is-ohlc","compact":true},{"label":"High","value":"38.3","className":"is-ohlc","compact":true},{"label":"Low","value":"38.3","className":"is-ohlc","compact":true},{"label":"Close","value":"38.3","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.20","note":"Cautious and weakening","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"38.3","className":"is-ohlc","compact":true},{"label":"High","value":"38.3","className":"is-ohlc","compact":true},{"label":"Low","value":"37.8","className":"is-ohlc","compact":true},{"label":"Close","value":"38.0","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.28","note":"Cautious and weakening","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"38.0","className":"is-ohlc","compact":true},{"label":"High","value":"38.0","className":"is-ohlc","compact":true},{"label":"Low","value":"38.0","className":"is-ohlc","compact":true},{"label":"Close","value":"38.0","className":"is-ohlc","compact":true},{"label":"Market 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Dynamics","value":"-0.73","note":"Cautious but repairing","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"38.0","className":"is-ohlc","compact":true},{"label":"High","value":"38.0","className":"is-ohlc","compact":true},{"label":"Low","value":"38.0","className":"is-ohlc","compact":true},{"label":"Close","value":"38.0","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.69","note":"Cautious but repairing","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"38.0","className":"is-ohlc","compact":true},{"label":"High","value":"38.0","className":"is-ohlc","compact":true},{"label":"Low","value":"38.0","className":"is-ohlc","compact":true},{"label":"Close","value":"38.0","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.74","note":"Cautious and weakening","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"38.6","className":"is-ohlc","compact":true},{"label":"High","value":"40.2","className":"is-ohlc","compact":true},{"label":"Low","value":"38.6","className":"is-ohlc","compact":true},{"label":"Close","value":"40.2","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.61","note":"Cautious but repairing","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}]],"pressureRange":[-2.3,2.3],"priceRange":[37.843898,40.2911],"zones":{"accumulationBoundary":-1.5,"accumulationDarkBoundary":-2.0,"distributionBoundary":1.5,"distributionDarkBoundary":2.0},"latest":-0.610476,"state":"Price ahead of Market Dynamics","context":{"scenario":"priceAhead","latestDirection":"strengthening","fourWeekDirection":"strengthening","now":{"label":"Stronger this week","detail":"Market Dynamics improved this week but remains below zero."},"fourWeek":{"label":"Strengthened over four weeks","detail":"Underlying support has strengthened 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":"Unsupported elevation","detail":"Price is in distribution and ahead of Market Dynamics. The advance is not fully confirmed while that gap remains open.","tone":"negative"},"chartSummary":"Price is in the distribution zone. The Market Dynamics bars show whether underlying support is keeping pace with that elevated price.","summary":"Price is in distribution and ahead of Market Dynamics. The advance is not fully confirmed while that gap remains open.","annotations":[{"label":"Current tape relationship","value":"Unsupported elevation","detail":"Market Dynamics improved this week but remains below zero.","tone":"negative"},{"label":"Price location","value":"Distribution zone","detail":"Price is extended; support can persist, but rollover risk must be monitored.","tone":"caution"},{"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":"Not confirming","detail":"Market Dynamics has strengthened over four weeks, but it still lags the elevated price.","tone":"negative"}],"relationshipEvidence":{"available":false,"observations":14,"summary":"More completed weekly history is needed for a dependable ticker-level record."},"events":{"positioning_recoveries":[],"reversal_warnings":[],"reversal_dangers":[]}},"smTape":{"available":true,"dates":["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":[32.1792,32.6125,31.1635,32.1436,32.555,32.2653,31.9722,32.3134,32.3018,33.5115,35.218,35.6779,34.9839,35.2203,36.3608,37.5891,38.9723,38.4857,38.704,37.1274,37.9584,38.4525,37.9845,38.2997,37.25,37.25,38.335,38.335,38.335,37.975,37.975,37.975,37.975,37.975,37.975,37.975,37.975,37.975,37.975,37.975,37.975,40.16],"consensus":[100.0,-79.5635,-100.0,100.0,66.7513,-23.546,0.0,36.6824,12.385,81.0362,91.3823,81.3274,11.3815,66.4101,84.0034,90.4185,88.8008,12.3937,52.5829,-22.4161,51.37,58.184,0.0,51.9154,-38.6244,-8.8607,50.9783,19.8869,28.5688,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,-82.5732],"supportDates":["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,-20.9237,0.0,42.8584,22.9559,75.5806,91.8972,79.9888,11.2585,63.7538,84.9517,91.3615,92.8492,7.514,46.3509,-25.1976,74.935,72.582,0.0,52.2639,-35.1741,-3.0905,53.9663,26.104,24.9235,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,-89.1715],"force":[100.0,-79.5635,-100.0,100.0,74.3159,-49.8427,0.0,49.6302,16.0841,97.5446,99.1445,77.8646,45.2564,55.2499,86.9881,95.782,95.9892,43.9212,30.7679,-86.7993,48.8499,56.5349,0.0,49.5594,-84.6286,-16.2122,68.7782,0.7923,16.1509,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,-99.9426],"direction":[null,null,null,null,61.3481,-7.7596,0.0,20.3756,2.3382,75.4794,85.2493,85.3306,77.7115,77.4174,80.7876,85.5096,79.0395,75.3702,75.2873,-26.7507,26.2387,42.9072,0.0,53.2001,-9.7076,-17.2682,34.8493,26.4207,41.6048,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,-62.6255],"intensity":[null,null,null,null,25.0,40.0,50.0,42.8571,12.5,88.8889,100.0,81.8182,33.3333,53.8462,71.4286,86.6667,87.5,47.0588,55.5556,94.7368,40.0,14.2857,13.6364,8.6957,62.5,84.0,92.3077,59.2593,3.5714,24.1379,13.3333,6.4516,9.375,12.1212,14.7059,17.1429,19.4444,21.6216,23.6842,25.641,27.5,100.0],"confirmation":[54.6667,48.127,54.6667,54.6667,67.0396,53.7094,49.166,80.0389,49.747,94.5178,97.471,93.9396,36.9841,88.9516,94.9576,97.083,96.5736,13.5259,84.2567,37.4664,84.0025,86.3492,7.9758,84.5358,81.8144,49.2342,84.81,51.0205,76.8191,5.5384,2.4939,2.7518,3.0002,23.8961,23.6538,23.7405,1.1512,1.2202,1.2818,1.3366,1.3856,44.64],"persistence":[null,null,33.3333,0.0,20.0,0.0,0.0,12.5,12.5,37.5,62.5,62.5,62.5,87.5,100.0,100.0,100.0,100.0,100.0,75.0,75.0,75.0,62.5,62.5,37.5,12.5,12.5,37.5,37.5,25.0,25.0,12.5,25.0,37.5,25.0,12.5,0.0,0.0,0.0,0.0,0.0,12.5],"assessmentRisk":[null,null,null,null,14.0071,7.8626,35.7448,6.8726,23.9894,6.1057,4.2624,9.3122,44.1624,15.4891,2.0934,4.4022,5.5981,43.7829,23.5291,12.2564,65.8788,30.9259,30.9438,18.6025,13.8877,39.9021,6.7415,7.8719,29.6321,38.3745,24.9731,24.3617,29.2753,2.2654,1.8349,1.439,1.0754,0.7418,0.4358,0.1552,0.102,8.6465],"volumeParticipation":false,"latest":{"consensus":-82.6,"control":-89.2,"force":-99.9,"direction":-62.6,"confirmation":44.6,"persistence":12.5,"assessmentRisk":8.6,"intensity":100.0,"evidenceDepth":100},"analysis":{"status":"Market Dynamics has stronger support","headline":"The gauges support the Market Dynamics view","summary":"Price structure and Market Dynamics disagree. The completed evidence gives the downward Market Dynamics view stronger support.","take":"Current assessment: the visible price structure remains vulnerable until Market Dynamics changes.","tone":"negative","supportedView":"Market Dynamics","direction":"downward","disagreement":true},"support":{"window":"Latest 12 months","controlState":"Seller control supports the view","controlPath":"Control support is strengthening","forceState":"Downward commitment","forcePath":"Commitment is strengthening","directionState":"Downward follow-through","persistenceState":"Unsettled","confirmationState":"Qualified support","riskState":"Contained","intensityState":"Elevated"},"cards":[{"label":"SM Consensus Gauge","value":"-82.6","detail":"Market Dynamics has stronger support","tone":"negative"},{"label":"SM Control Gauge","value":"-89.2","detail":"Seller control supports the view","tone":"negative"},{"label":"SM Force Gauge","value":"-99.9","detail":"Downward commitment","tone":"negative"},{"label":"SM Direction Gauge","value":"-62.6","detail":"Downward follow-through","tone":"negative"},{"label":"SM Confirmation Gauge","value":"45/100","detail":"Qualified support","tone":"neutral"}]},"kpis":[{"label":"Price structure","value":"Aligned upward","detail":"completed-week alignment","tone":"positive"},{"label":"Momentum","value":"78.8","detail":"Stretched positive","tone":"positive"},{"label":"Risk pressure","value":"1.1%","detail":"Contained","tone":"neutral"},{"label":"Trend quality","value":"42.4","detail":"Directional","tone":"positive"},{"label":"Range position","value":"100%","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":[32.1792,32.6125,31.1635,32.1436,32.555,32.2653,31.9722,32.3134,32.3018,33.5115,35.218,35.6779,34.9839,35.2203,36.3608,37.5891,38.9723,38.4857,38.704,37.1274,37.9584,38.4525,37.9845,38.2997,37.25,37.25,38.335,38.335,38.335,37.975,37.975,37.975,37.975,37.975,37.975,37.975,37.975,37.975,37.975,37.975,37.975,40.16],"stroke":"#10243b","width":2.1},{"label":"Fast trend","values":[null,null,null,null,32.1618,32.1806,32.1427,32.1737,32.197,32.436,32.9418,33.4393,33.7201,33.9929,34.4234,34.999,35.7214,36.224,36.6749,36.7572,36.9756,37.2441,37.3787,37.5462,37.4923,37.4483,37.6095,37.7414,37.8493,37.8722,37.8909,37.9062,37.9187,37.9289,37.9373,37.9442,37.9498,37.9544,37.9581,37.9612,37.9637,38.363],"stroke":"#176fa3","width":1.7},{"label":"Slow 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INFEA Technical Research Pack, completed week 2026-08-21, https://sharemaestro.com/terminal/3fb98305-bfb3-43d0-9c80-33e57554d506/technical-pack/","data_notes":{"time_series":"Parallel time-series arrays align by index with their dates array.","events":"Sparse chart markers are published as compact dated event records rather than null-filled arrays.","missing_values":"A remaining null in an aligned series means that observation is genuinely unavailable; zero remains a valid value."},"boundary":"Completed market observations and published proprietary outputs only. Market Dynamics construction and private inputs are not disclosed. Historical research is not a forecast or instruction to trade."}