{"schema_version":"1.0","name":"MHQA Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"429d867b-43c1-4332-bddd-68eef808961c","symbol":"MHQA","name":"Invesco Emerging Markets Enhanced Equity UCITS ETF USD Acc","exchange":"GER","country":"DE","asset_type":"etf","currency":"EUR","sector":null,"industry":null},"summary":"Market Dynamics improved this week but 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, Directional strength and control, Range pressure and compression, 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 improved this week but 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 improved this week but 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":[0.303814,0.417661,0.610387,0.708147,0.878011,1.049326,0.995952,1.081815,1.096534,1.081339,1.130553,1.035251,0.690325,0.356366,0.087206,-0.203191,-0.154942,-0.088085],"opens":[5.133,5.219,5.319,5.554,5.418,5.609,5.655,5.651,6.045,5.815,5.818,5.76,5.379,5.442,5.592,5.512,5.584,5.73],"highs":[5.224,5.232,5.564,5.592,5.554,5.796,5.684,5.761,6.045,5.848,5.867,5.812,5.45,5.672,5.592,5.657,5.78,5.79],"lows":[5.119,5.15,5.287,5.399,5.342,5.609,5.611,5.651,6.021,5.774,5.818,5.737,5.379,5.442,5.237,5.427,5.56,5.583],"closes":[5.215,5.208,5.524,5.445,5.554,5.733,5.614,5.75,6.03,5.846,5.84,5.773,5.45,5.555,5.447,5.593,5.68,5.708],"hoverRows":[[{"label":"Open","value":"5.13","className":"is-ohlc","compact":true},{"label":"High","value":"5.22","className":"is-ohlc","compact":true},{"label":"Low","value":"5.12","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":"5.51","className":"is-ohlc","compact":true},{"label":"High","value":"5.66","className":"is-ohlc","compact":true},{"label":"Low","value":"5.43","className":"is-ohlc","compact":true},{"label":"Close","value":"5.59","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":"5.58","className":"is-ohlc","compact":true},{"label":"High","value":"5.78","className":"is-ohlc","compact":true},{"label":"Low","value":"5.56","className":"is-ohlc","compact":true},{"label":"Close","value":"5.68","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.15","note":"Cautious but repairing","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"5.73","className":"is-ohlc","compact":true},{"label":"High","value":"5.79","className":"is-ohlc","compact":true},{"label":"Low","value":"5.58","className":"is-ohlc","compact":true},{"label":"Close","value":"5.71","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.09","note":"Cautious but repairing","className":"is-negative","wide":true},{"label":"Signal / event","value":"Reversal warning","className":"is-caution","wide":true}]],"pressureRange":[-2.3,2.3],"priceRange":[5.15868,6.07932],"zones":{"accumulationBoundary":-1.5,"accumulationDarkBoundary":-2.0,"distributionBoundary":1.5,"distributionDarkBoundary":2.0},"latest":-0.088085,"state":"Price is moving ahead of Market Dynamics","context":{"scenario":"priceAhead","latestDirection":"strengthening","fourWeekDirection":"weakening","now":{"label":"Stronger this week","detail":"Market Dynamics improved this week but 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 improved this week but 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":5.733},{"date":"2026-08-21","price":5.708}],"reversal_dangers":[{"date":"2026-06-05","price":5.614}]}},"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":[4.257,4.3385,5.1295,4.4685,4.352,4.444,4.3085,4.395,4.4305,4.3435,4.372,4.3625,4.523,4.6585,4.745,4.7515,4.7955,4.8445,4.915,5.053,5.111,4.774,4.792,4.69,4.6325,4.707,4.961,5.194,5.215,5.208,5.524,5.445,5.554,5.733,5.614,5.75,6.03,5.846,5.84,5.773,5.45,5.555,5.447,5.593,5.68,5.708],"consensus":[-100.0,28.4404,100.0,0.0,-8.132,16.4133,-38.3525,16.3596,22.3859,-39.4032,11.8482,-9.6687,48.9968,69.4587,57.6757,46.5706,39.4381,51.9843,42.1103,71.3014,48.7193,-28.3983,0.0,-38.1255,-28.1843,0.0,57.6239,66.5506,49.3761,37.847,77.0254,19.8047,70.1675,64.5718,10.4994,60.5238,53.2691,31.5962,32.8875,16.5864,-24.344,0.0,-39.3624,15.0833,33.9666,21.0698],"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,14.9262,-35.9587,27.5954,20.389,-36.5642,8.4372,-9.6439,49.9897,64.7412,52.2716,42.0757,29.1407,49.6892,41.6987,70.8652,42.6149,-36.7424,0.0,-34.2484,-21.5177,0.0,54.9996,71.635,55.2132,36.8868,78.2243,7.2062,69.8454,63.4578,2.2045,69.0229,48.9446,37.5858,28.7054,17.3159,-13.9175,0.0,-24.442,26.1246,26.8198,17.749],"force":[-100.0,28.4404,100.0,0.0,-25.8011,13.4132,-35.9684,32.3047,31.9494,-66.5641,26.4595,-9.2998,59.7856,81.6517,48.1247,22.6535,33.0362,53.1943,24.566,82.9788,36.3866,-54.0105,0.0,-55.4881,-24.2142,0.0,88.3037,72.4359,28.4923,13.2421,91.3036,15.2887,81.0282,62.8235,25.2127,43.4299,37.8906,6.3562,7.7327,8.5621,-22.3512,0.0,-64.6918,35.8038,55.1757,20.9268],"direction":[null,null,null,null,-4.4888,20.2558,-42.7911,7.8707,17.8371,-23.2472,5.3098,-9.9606,40.1558,66.1408,70.6741,68.7912,55.7794,53.7429,55.1122,63.4588,64.5048,-0.5679,0.0,-30.1547,-38.6393,0.0,38.709,56.5361,57.6221,56.5193,65.4564,59.2698,62.7781,67.0937,50.5268,63.0205,69.196,51.8598,55.6348,33.7157,-37.6835,0.0,-38.3219,12.3358,26.9851,24.9671],"intensity":[null,null,null,null,50.0,40.0,66.6667,28.5714,12.5,44.4444,20.0,54.5455,83.3333,84.6154,64.2857,6.6667,87.5,17.6471,72.2222,68.4211,55.0,90.4762,68.1818,43.4783,75.0,16.0,88.4615,85.1852,82.1429,6.8966,90.0,41.9355,40.625,87.8788,47.0588,57.1429,94.4444,78.3784,7.8947,20.5128,92.5,75.6098,73.8095,69.7674,47.7273,4.4444],"confirmation":[54.6667,31.7676,54.6667,1.6873,27.5131,73.1835,80.2366,52.5622,75.4854,81.4801,49.622,71.0831,83.9927,90.6703,86.2475,82.2422,80.582,84.7068,80.9469,91.179,83.3073,55.0742,24.7363,80.7884,76.9996,28.442,87.4146,89.3981,83.0749,79.3758,93.065,8.7216,90.7895,88.6267,8.314,86.7172,84.6433,55.5522,55.1544,29.0233,75.8882,30.2378,81.5953,30.5882,79.6246,44.64],"persistence":[null,null,33.3333,25.0,0.0,16.6667,0.0,12.5,37.5,12.5,12.5,0.0,25.0,25.0,50.0,50.0,50.0,75.0,75.0,100.0,100.0,75.0,62.5,37.5,12.5,0.0,0.0,0.0,0.0,25.0,37.5,62.5,87.5,100.0,100.0,100.0,100.0,100.0,100.0,100.0,75.0,62.5,37.5,37.5,37.5,37.5],"assessmentRisk":[null,null,null,null,13.1043,2.9307,28.6758,17.2873,0.8303,5.8606,3.4284,0.2275,9.9684,4.4605,13.5641,24.5989,30.0624,23.1085,27.6691,14.3402,25.6349,11.7039,40.706,30.6511,35.8585,28.7317,13.8903,16.6352,25.2822,30.9821,11.3887,35.4419,13.2954,17.5118,23.3535,18.5171,23.2596,15.5358,28.3475,0.8233,37.6947,49.9578,29.0597,47.5816,27.4107,26.4815],"volumeParticipation":true,"latest":{"consensus":21.1,"control":17.7,"force":20.9,"direction":25.0,"confirmation":44.6,"persistence":37.5,"assessmentRisk":26.5,"intensity":4.4,"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":"Buyer control supports the view","controlPath":"Control support is strengthening","forceState":"Upward commitment","forcePath":"Commitment is strengthening","directionState":"Upward follow-through","persistenceState":"Unsettled","confirmationState":"Qualified support","riskState":"Contained","intensityState":"Quiet"},"cards":[{"label":"SM Consensus Gauge","value":"+21.1","detail":"Price structure has stronger support","tone":"positive"},{"label":"SM Control Gauge","value":"+17.7","detail":"Buyer control supports the view","tone":"positive"},{"label":"SM Force Gauge","value":"+20.9","detail":"Upward commitment","tone":"positive"},{"label":"SM Direction Gauge","value":"+25.0","detail":"Upward follow-through","tone":"positive"},{"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":"61.1","detail":"Positive","tone":"positive"},{"label":"Risk pressure","value":"3.8%","detail":"Normal","tone":"neutral"},{"label":"Trend quality","value":"36.1","detail":"Directional","tone":"positive"},{"label":"Range position","value":"77%","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 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