{"schema_version":"1.0","name":"MAXS Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"46a27107-eb51-48ac-bb36-3cdcbccba9be","symbol":"MAXS","name":"iShares US Large Cap Max Buffer Sep UCITS ETF USD Acc","exchange":"EBS","country":"CH","asset_type":"etf","currency":"USD","sector":null,"industry":null},"summary":"Market Dynamics paused slightly this week and remains positive. Underlying support has contracted 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, Acceleration, deceleration and rollover, Range pressure and compression."},{"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":44,"displayedObservations":44,"assetType":"ETF","state":"Aligned upward","stateTone":"positive","summary":"Market Dynamics paused slightly this week and remains positive. Underlying support has contracted across the recent completed path. Price remains elevated in the distribution zone.","evidenceAlignment":{"status":"Evidence conflict","headline":"Price is ahead of Market Dynamics","summary":"Market Dynamics paused slightly this week and remains positive. Underlying support has contracted across the recent completed path. Price remains elevated in the distribution zone.","take":"The gap can close through stronger Market Dynamics or weaker price. Until then, the upward structure should be treated as vulnerable rather than fully aligned.","tone":"caution","conflict":true},"marketDynamics":{"available":true,"readAvailable":true,"dates":["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":[0.610405,0.858928,0.941768,1.040973,1.040788,1.038908,1.026419,0.939415,0.966369,0.991282,1.031928,0.991865,0.816689,0.726964,0.592772,0.586758],"opens":[5.194,5.232,5.226,5.24,5.244,5.231,5.256,5.236,5.273,5.268,5.278,5.278,5.275,5.294,5.309,5.316],"highs":[5.232,5.232,5.24,5.25,5.244,5.235,5.256,5.236,5.274,5.268,5.278,5.278,5.275,5.308,5.312,5.316],"lows":[5.194,5.226,5.226,5.24,5.244,5.211,5.256,5.236,5.273,5.268,5.278,5.275,5.275,5.294,5.309,5.316],"closes":[5.232,5.226,5.24,5.25,5.244,5.234,5.256,5.236,5.274,5.268,5.278,5.275,5.275,5.308,5.312,5.316],"hoverRows":[[{"label":"Open","value":"5.19","className":"is-ohlc","compact":true},{"label":"High","value":"5.23","className":"is-ohlc","compact":true},{"label":"Low","value":"5.19","className":"is-ohlc","compact":true},{"label":"Close","value":"5.23","className":"is-ohlc","compact":true},{"label":"Market 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easing","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"5.32","className":"is-ohlc","compact":true},{"label":"High","value":"5.32","className":"is-ohlc","compact":true},{"label":"Low","value":"5.32","className":"is-ohlc","compact":true},{"label":"Close","value":"5.32","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.59","note":"Supportive but easing","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}]],"pressureRange":[-2.3,2.3],"priceRange":[5.2206,5.3214],"zones":{"accumulationBoundary":-1.5,"accumulationDarkBoundary":-2.0,"distributionBoundary":1.5,"distributionDarkBoundary":2.0},"latest":0.586758,"state":"Price ahead of Market Dynamics","context":{"scenario":"priceAhead","latestDirection":"slight easing","fourWeekDirection":"weakening","now":{"label":"Slightly easier this week","detail":"Market Dynamics paused slightly this week and remains positive."},"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":"Unsupported elevation","detail":"Price is in distribution and ahead of Market Dynamics. The advance is not fully confirmed while that gap remains open.","tone":"caution"},"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 paused slightly this week and remains positive.","tone":"caution"},{"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 weakened over four weeks and now lags the elevated price.","tone":"negative"}],"relationshipEvidence":{"available":false,"observations":16,"summary":"More completed weekly history is needed for a dependable ticker-level record."},"events":{"positioning_recoveries":[],"reversal_warnings":[],"reversal_dangers":[]}},"smTape":{"available":true,"dates":["2025-10-24","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":[5.064,5.074,5.048,5.06,5.049,5.074,5.091,5.088,5.084,5.096,5.112,5.112,5.116,5.116,5.127,5.116,5.124,5.123,5.118,5.122,5.103,5.071,5.057,5.097,5.126,5.181,5.195,5.194,5.232,5.226,5.24,5.25,5.244,5.234,5.256,5.236,5.274,5.268,5.278,5.275,5.275,5.308,5.312,5.316],"consensus":[100.0,-100.0,-100.0,-30.0,-55.0951,42.8477,65.892,18.0768,9.7958,62.4501,71.4651,41.7305,65.8431,40.6604,40.3593,-10.0098,51.9736,40.6583,-13.1799,42.612,-31.876,-69.4165,-66.4529,27.5239,52.9383,73.527,75.2526,28.4311,78.3657,24.613,69.5979,75.6435,33.5623,26.6881,50.5566,0.0,66.4359,32.9738,44.6188,21.4165,27.0845,70.242,61.2916,46.0613],"supportDates":["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,57.9379,71.7468,0.0966,5.6624,68.8415,79.9042,33.301,63.2074,32.5181,20.3789,-17.1939,65.807,50.9923,-9.1008,54.8114,-13.2775,-59.6447,-75.5992,40.3065,55.6748,86.8029,76.4437,12.188,90.6525,5.3306,78.432,74.3828,29.1178,39.1775,52.4445,0.0,78.4684,27.3442,44.612,5.7779,32.305,86.47,65.0653,41.1947],"force":[100.0,-100.0,-100.0,-30.0,-37.7907,39.2629,49.8708,18.6021,32.8078,45.2427,54.3938,9.826,57.0614,9.5955,27.3702,-77.063,35.6612,18.6799,-55.6976,30.5251,-61.0745,-96.3492,-50.9492,79.4804,64.5311,66.6598,83.3285,3.1989,63.2855,13.4371,47.4419,76.5255,3.3935,31.7587,30.9337,0.0,50.1191,1.0594,22.5914,8.5658,0.604,51.5634,50.0068,26.8434],"direction":[null,null,null,null,-67.4553,28.1623,70.6444,65.0457,57.8934,67.4366,74.0142,74.1531,75.128,72.1549,72.4719,-46.0957,47.8157,44.5469,-12.5281,37.3033,-32.2754,-61.3467,-67.0742,24.1966,41.5304,63.2597,68.1227,69.5876,75.0954,73.8289,75.3276,76.4543,65.0386,54.1622,62.4152,0.0,64.3392,62.2035,60.3605,60.7051,40.0328,65.0376,65.0396,65.3503],"intensity":[null,null,null,null,25.0,80.0,50.0,42.8571,12.5,44.4444,60.0,45.4545,16.6667,38.4615,78.5714,26.6667,56.25,5.8824,22.2222,26.3158,100.0,95.2381,95.4545,95.6522,83.3333,100.0,96.1538,48.1481,82.1429,79.3103,50.0,51.6129,9.375,81.8182,94.1176,60.0,83.3333,10.8108,21.0526,2.5641,5.0,80.4878,52.381,16.2791],"confirmation":[54.6667,54.6667,54.6667,32.2667,62.1727,81.3721,88.5079,8.9327,10.2788,87.3622,90.22,80.5099,88.8423,80.1886,80.8236,37.6376,83.9236,80.1834,30.9148,81.0816,79.3736,91.183,88.6531,38.0249,85.2519,91.117,92.3088,54.3973,92.4302,9.877,89.4615,92.252,55.7387,36.0105,83.5513,29.867,88.5789,54.9981,81.6068,8.0052,53.1138,89.6609,87.2119,90.2281],"persistence":[null,null,33.3333,50.0,60.0,33.3333,14.2857,0.0,0.0,25.0,50.0,75.0,100.0,100.0,100.0,75.0,75.0,75.0,50.0,50.0,25.0,0.0,25.0,0.0,0.0,0.0,25.0,25.0,50.0,75.0,100.0,100.0,100.0,100.0,100.0,87.5,87.5,87.5,87.5,87.5,87.5,87.5,87.5,100.0],"assessmentRisk":[null,null,null,null,9.5768,21.4238,16.3291,37.7803,44.0107,13.7733,8.8745,25.9581,16.2279,25.2895,20.7546,22.7744,5.8632,10.4081,32.9562,12.1458,32.9822,15.2618,16.767,59.1761,16.0056,13.2285,12.373,35.7593,10.8001,35.125,12.6654,11.1863,5.7884,2.7447,7.0498,32.0226,11.1465,29.518,20.4951,38.2006,10.6514,14.0764,17.8468,26.3519],"volumeParticipation":true,"latest":{"consensus":46.1,"control":41.2,"force":26.8,"direction":65.4,"confirmation":90.2,"persistence":100.0,"assessmentRisk":26.4,"intensity":16.3,"evidenceDepth":100},"analysis":{"status":"Joint upward confirmation","headline":"The gauges support the upward market view","summary":"Price structure and Market Dynamics agree. Control, force and direction support the same upward assessment.","take":"Current assessment: upward pressure has broad support.","tone":"positive","supportedView":"Price structure and Market Dynamics","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":"Established","confirmationState":"Strong support","riskState":"Contained","intensityState":"Quiet"},"cards":[{"label":"SM Consensus Gauge","value":"+46.1","detail":"Joint upward confirmation","tone":"positive"},{"label":"SM Control Gauge","value":"+41.2","detail":"Buyer control supports the view","tone":"positive"},{"label":"SM Force Gauge","value":"+26.8","detail":"Upward commitment","tone":"positive"},{"label":"SM Direction Gauge","value":"+65.4","detail":"Upward follow-through","tone":"positive"},{"label":"SM Confirmation Gauge","value":"90/100","detail":"Strong support","tone":"positive"}]},"kpis":[{"label":"Price structure","value":"Aligned upward","detail":"completed-week alignment","tone":"positive"},{"label":"Momentum","value":"77.0","detail":"Stretched positive","tone":"positive"},{"label":"Risk pressure","value":"0.3%","detail":"Contained","tone":"neutral"},{"label":"Trend quality","value":"36.6","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 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Market Dynamics construction and private inputs are not disclosed. Historical research is not a forecast or instruction to trade."}