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evidence"}],"path":[{"week":0,"sample":0},{"week":1,"averageReturn":2.8,"sample":2},{"week":2,"averageReturn":1.2,"sample":2},{"week":3,"averageReturn":-8.2,"sample":2},{"week":4,"averageReturn":-1.0,"sample":2},{"week":5,"averageReturn":-5.8,"sample":2},{"week":6,"averageReturn":-4.0,"sample":2},{"week":7,"averageReturn":-5.2,"sample":2},{"week":8,"averageReturn":-12.2,"sample":2},{"week":9,"averageReturn":-2.1,"sample":2},{"week":10,"averageReturn":-3.1,"sample":2},{"week":11,"averageReturn":-2.7,"sample":2},{"week":12,"averageReturn":-10.2,"sample":1},{"week":13,"averageReturn":-7.1,"sample":1},{"week":14,"averageReturn":-0.9,"sample":1},{"week":15,"averageReturn":-1.1,"sample":1},{"week":16,"averageReturn":0.1,"sample":1},{"week":17,"sample":0},{"week":18,"sample":0},{"week":19,"sample":0},{"week":20,"sample":0},{"week":21,"sample":0},{"week":22,"sample":0},{"week":23,"sample":0},{"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":2,"completedEpisodes":1,"activeEpisodes":1,"medianExpectedMove":1.7,"averageExpectedMove":1.7,"averageWeeksToLargestMove":1.0,"horizons":[{"weeks":4,"sample":1,"expectedCount":0,"expectedPercent":0.0,"averageReturn":0.5,"medianReturn":0.5,"confidenceLow":0.0,"confidenceHigh":79.3,"confidence":"Mixed historical record"},{"weeks":12,"sample":1,"expectedCount":0,"expectedPercent":0.0,"averageReturn":2.0,"medianReturn":2.0,"confidenceLow":0.0,"confidenceHigh":79.3,"confidence":"Mixed historical record"},{"weeks":26,"sample":0,"expectedCount":0,"confidence":"Not enough evidence"}],"path":[{"week":0,"sample":0},{"week":1,"averageReturn":-0.9,"sample":2},{"week":2,"averageReturn":0.4,"sample":2},{"week":3,"averageReturn":0.1,"sample":1},{"week":4,"averageReturn":0.5,"sample":1},{"week":5,"averageReturn":0.9,"sample":1},{"week":6,"averageReturn":0.7,"sample":1},{"week":7,"averageReturn":0.2,"sample":1},{"week":8,"averageReturn":1.0,"sample":1},{"week":9,"averageReturn":0.3,"sample":1},{"week":10,"averageReturn":1.5,"sample":1},{"week":11,"averageReturn":2.6,"sample":1},{"week":12,"averageReturn":2.0,"sample":1},{"week":13,"averageReturn":2.1,"sample":1},{"week":14,"averageReturn":-5.5,"sample":1},{"week":15,"averageReturn":-1.4,"sample":1},{"week":16,"averageReturn":-5.4,"sample":1},{"week":17,"averageReturn":-22.7,"sample":1},{"week":18,"averageReturn":-9.1,"sample":1},{"week":19,"averageReturn":-11.0,"sample":1},{"week":20,"averageReturn":-11.5,"sample":1},{"week":21,"averageReturn":-10.0,"sample":1},{"week":22,"averageReturn":-6.9,"sample":1},{"week":23,"averageReturn":-0.6,"sample":1},{"week":24,"averageReturn":-0.8,"sample":1},{"week":25,"averageReturn":0.4,"sample":1},{"week":26,"sample":0}]},"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 distribution to protect capital before considering the short case","tone":"negative","finding":"After distribution, 100.0% of completed 12-week outcomes were lower across 1 cases. Distinct visits lasted 4.0 weeks on average before leaving the zone.","approach":"Review long exposure and define the evidence that would confirm a rollover. Short exposure should begin only after price weakens and the loss limit is known.","watch":"A sustained repair in price and Market Dynamics invalidates the downside setup."}]},"summary":"This record compares the ticker's completed price path with its published Market Dynamics history."},"events":{"positioning_recoveries":[],"reversal_warnings":[{"date":"2026-02-27","price":20.264999},{"date":"2026-08-07","price":20.145}],"reversal_dangers":[{"date":"2026-03-06","price":19.924},{"date":"2026-06-19","price":19.162001},{"date":"2026-08-14","price":20.110001}]}},"smTape":{"available":true,"dates":["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":[20.265,19.924,20.23,20.285,20.37,20.45,20.405,20.3,20.47,20.325,20.565,20.79,20.665,20.695,19.142,19.99,19.162,15.664,18.418,18.03,17.938,18.242,18.872,20.145,20.11,20.35],"consensus":[100.0,-100.0,-99.0741,-51.0622,15.5859,27.0014,0.0,-11.1392,14.7042,-14.93,20.3996,43.273,8.7566,16.4094,-72.162,-13.5516,-37.1914,-62.5512,-19.5393,-46.9991,-28.2021,0.0,21.6781,62.4371,22.8746,45.0557],"supportDates":["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,19.3811,0.0,-14.1047,14.0286,-18.4209,18.3194,43.5633,4.7513,10.3054,-76.243,-6.0557,-19.1365,-63.2125,-20.7316,-50.9781,-21.2728,0.0,26.4827,61.2656,14.6936,46.5485],"force":[100.0,-100.0,-99.0741,-51.0622,0.8759,24.358,0.0,-23.6332,16.4258,-23.4834,23.1969,44.2288,4.8764,8.7851,-65.6737,-7.9045,-44.6118,-47.407,-12.2687,-32.4933,-8.7707,0.0,37.2163,85.7872,1.4934,33.9297],"direction":[null,null,null,null,26.093,37.5984,0.0,-1.1743,14.2468,-4.8309,20.7788,42.2585,23.072,28.8314,-72.1325,-37.4443,-52.5252,-72.6127,-40.8966,-52.8129,-50.0009,0.0,5.0884,47.0972,47.4967,51.297],"intensity":[null,null,null,null,100.0,20.0,50.0,57.1429,100.0,100.0,20.0,18.1818,16.6667,7.6923,85.7143,66.6667,100.0,100.0,94.4444,42.1053,35.0,52.381,68.1818,73.913,66.6667,20.0],"confirmation":[54.6667,54.6667,54.3704,39.0066,26.9817,76.676,25.2468,49.484,72.7681,50.3184,74.6448,81.8721,26.1546,73.1117,90.8319,28.1498,80.4025,87.5448,30.549,82.537,76.5381,26.1541,52.6707,88.7093,52.1263,55.0],"persistence":[null,null,33.3333,50.0,20.0,0.0,0.0,12.5,12.5,12.5,12.5,37.5,37.5,37.5,25.0,25.0,0.0,0.0,25.0,50.0,75.0,87.5,62.5,37.5,12.5,12.5],"assessmentRisk":[null,null,null,null,13.318,35.8422,32.6214,9.6156,17.7203,22.6704,24.8715,27.8786,35.0569,40.3443,13.7336,39.1579,30.9864,18.717,14.8194,21.3496,21.9452,46.0381,5.1958,14.009,34.1616,22.6548],"volumeParticipation":true,"latest":{"consensus":45.1,"control":46.5,"force":33.9,"direction":51.3,"confirmation":55.0,"persistence":12.5,"assessmentRisk":22.7,"intensity":20.0,"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 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":"+45.1","detail":"Completed tape has stronger support","tone":"positive"},{"label":"SM Control Gauge","value":"+46.5","detail":"Buyer control supports the view","tone":"positive"},{"label":"SM Force Gauge","value":"+33.9","detail":"Upward commitment","tone":"positive"},{"label":"SM Direction Gauge","value":"+51.3","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":"50.6","detail":"Positive","tone":"positive"},{"label":"Risk pressure","value":"4.7%","detail":"Normal","tone":"neutral"},{"label":"Trend quality","value":"-","detail":"Developing","tone":"neutral"},{"label":"Range position","value":"73%","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":[20.265,19.924,20.23,20.285,20.37,20.45,20.405,20.3,20.47,20.325,20.565,20.79,20.665,20.695,19.142,19.99,19.162,15.664,18.418,18.03,17.938,18.242,18.872,20.145,20.11,20.35],"stroke":"#10243b","width":2.1},{"label":"Fast trend","values":[null,null,null,null,20.2488,20.2854,20.3072,20.3059,20.3357,20.3338,20.3758,20.4511,20.49,20.5273,20.2754,20.2235,20.0305,19.2366,19.0878,18.8954,18.7214,18.6342,18.6774,18.9443,19.1562,19.3733],"stroke":"#176fa3","width":1.7},{"label":"Slow trend","values":[null,null,null,null,null,null,null,null,null,null,null,null,20.3736,20.3974,20.3044,20.2811,20.1982,19.8623,19.7554,19.6276,19.5024,19.409,19.3693,19.4267,19.4773,19.542],"stroke":"#07865c","width":1.8},{"label":"Upper envelope","values":[null,null,null,null,null,null,null,null,null,20.5961,20.6444,20.763,20.8026,20.8396,21.082,21.0548,21.1422,22.2554,22.2202,22.2105,22.2165,22.2066,22.141,22.1267,22.0993,22.0875],"stroke":"#98a9b8","width":1.0,"dash":[6,5]},{"label":"Lower envelope","values":[null,null,null,null,null,null,null,null,null,20.0087,20.0081,19.9668,19.9734,19.9803,19.5688,19.5541,19.3323,17.711,17.5814,17.404,17.1653,17.007,16.9368,16.9371,16.9385,16.9403],"stroke":"#98a9b8","width":1.0,"dash":[6,5]}],"guides":[],"dates":["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,95.9059,53.8915,33.1003,70.7792,114.2845,52.6572,51.567,29.1276,8.7791,122.0657,25.2937,4.6786,16.2128,5.5654,28.5707,37.9641,100.8745,326.9441,45.9342],"stroke":"#1678a7","width":1.8},{"label":"Cumulative balance","values":[null,null,null,null,null,null,null,124.879,129.2009,126.73,131.8636,135.0,131.7639,134.8192,133.1766,133.6433,127.0635,125.7574,125.9869,125.2254,124.9641,126.1839,127.491,130.6408,119.9391,121.3585],"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],"stroke":"#8fa0af","width":1.0,"dash":[6,5]}],"dates":["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":"range","eyebrow":"Acceptance map","title":"Range position and boundary pressure","description":"Price location inside its observed range shows whether the tape is pressing an outer boundary or rotating through value.","reason":"Selected because price is testing an observed boundary or moving rapidly through its recent range.","series":[{"label":"Range position","values":[null,null,null,null,null,null,null,17.0212,53.1579,49.3421,55.6579,61.579,58.2895,59.0789,18.2105,40.5263,27.3412,4.9639,44.7042,39.1054,37.7778,42.1645,51.2554,69.6248,69.1198,72.583],"stroke":"#10243b","width":2.0},{"label":"From high","values":[null,null,null,null,null,null,null,-8.764,-8.0,-8.6517,-7.573,-6.5618,-7.1236,-6.9888,-13.9685,-10.1573,-13.8786,-29.6,-17.2225,-18.9663,-19.3798,-18.0135,-15.182,-9.4607,-9.618,-8.5393],"stroke":"#c13f3f","width":1.5},{"label":"From low","values":[null,null,null,null,null,null,null,2.01,10.9485,10.1626,11.4634,12.6829,12.0054,12.168,3.7507,8.3469,6.4556,2.2454,20.2219,17.6893,17.0888,19.0731,23.1854,31.4948,31.2663,32.8329],"stroke":"#07865c","width":1.5}],"guides":[{"label":"Range centre","values":[50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0],"stroke":"#8fa0af","width":1.0,"dash":[6,5]}],"dates":["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":"impulse","eyebrow":"Price impulse","title":"Acceleration, deceleration and rollover","description":"The impulse path separates directional acceleration from a loss of momentum.","reason":"Selected because the latest impulse is unusually active or is approaching a change of direction.","series":[{"label":"Impulse","values":[null,null,null,null,null,null,null,null,null,null,null,null,0.0907,0.1024,-0.0135,-0.0365,-0.1201,-0.4634,-0.5073,-0.5669,-0.6145,-0.6205,-0.5679,-0.4186,-0.2997,-0.184],"stroke":"#1678a7","width":2.0},{"label":"Signal","values":[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,0.0161,-0.0798,-0.1653,-0.2456,-0.3194,-0.3796,-0.4173,-0.4175,-0.394,-0.352],"stroke":"#b87806","width":1.7},{"label":"Expansion","values":[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,-0.1362,-0.3835,-0.342,-0.3213,-0.2951,-0.2409,-0.1506,-0.0011,0.0943,0.168],"stroke":"#07865c","width":1.0,"fill":"rgba(7,134,92,.12)"}],"guides":[{"label":"Neutral","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],"stroke":"#8fa0af","width":1.0,"dash":[6,5]}],"dates":["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 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