{"schema_version":"1.0","name":"410A Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"4e5cda70-9329-4643-8b8b-c1e2bb60e41d","symbol":"410A","name":"GMO COMMERCE INC","exchange":"JPX","country":"JP","asset_type":"equity","currency":"JPY","sector":"Technology","industry":"Software - Infrastructure"},"summary":"Market Dynamics strengthened this week and remains positive. Underlying support has strengthened across the recent completed path. Price has not yet responded to the same extent.","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, Drawdown and recovery pressure, Range pressure and compression, Acceleration, deceleration and rollover, Directional strength and control, Activity pressure and cumulative balance."},{"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":48,"displayedObservations":48,"assetType":"Equity","state":"Rotational","stateTone":"caution","summary":"Market Dynamics strengthened this week and remains positive. Underlying support has strengthened across the recent completed path. Price has not yet responded to the same extent.","evidenceAlignment":{"status":"Underlying strength ahead of price","headline":"Market Dynamics is improving before price has fully responded","summary":"Market Dynamics strengthened this week and remains positive. Underlying support has strengthened across the recent completed path. Price has not yet responded to the same extent.","take":"Treat the gap as an early-upside opportunity watch. A continued positive price response would confirm that price is catching up with the stronger foundation.","tone":"caution","conflict":true},"marketDynamics":{"available":true,"readAvailable":true,"dates":["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"],"values":[0.13863,0.219694,0.275202,0.285694,0.275149,0.280425,0.315022,0.268907,0.17481,0.088749,0.013936,0.055051,0.181623,0.320989,0.477477,0.638462,0.769356,0.831574,0.909978,0.94843],"opens":[1221.0,1231.0,1215.0,1138.0,1143.0,1213.0,1119.0,1059.0,1044.0,1056.0,1080.0,1079.0,1137.0,1138.0,1176.0,1083.0,1140.0,1131.0,1126.0,1127.0],"highs":[1258.0,1246.0,1219.0,1177.0,1214.0,1244.0,1140.0,1079.0,1092.0,1062.0,1080.0,1102.0,1149.0,1167.0,1176.0,1164.0,1149.0,1139.0,1158.0,1144.0],"lows":[1201.0,1186.0,1138.0,1134.0,1143.0,1103.0,1010.0,1026.0,1037.0,1056.0,1056.0,1071.0,1129.0,1135.0,1096.0,1080.0,1102.0,1112.0,1092.0,1105.0],"closes":[1231.0,1215.0,1138.0,1145.0,1212.0,1126.0,1056.0,1055.0,1069.0,1060.0,1058.0,1101.0,1139.0,1167.0,1113.0,1125.0,1134.0,1118.0,1117.0,1126.0],"hoverRows":[[{"label":"Open","value":"1,221","className":"is-ohlc","compact":true},{"label":"High","value":"1,258","className":"is-ohlc","compact":true},{"label":"Low","value":"1,201","className":"is-ohlc","compact":true},{"label":"Close","value":"1,231","className":"is-ohlc","compact":true},{"label":"Market 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Dynamics","value":"0.91","note":"Supportive and strengthening","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"1,127","className":"is-ohlc","compact":true},{"label":"High","value":"1,144","className":"is-ohlc","compact":true},{"label":"Low","value":"1,105","className":"is-ohlc","compact":true},{"label":"Close","value":"1,126","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.95","note":"Supportive and strengthening","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}]],"pressureRange":[-2.3,2.3],"priceRange":[1044.44,1241.56],"zones":{"accumulationBoundary":-1.5,"accumulationDarkBoundary":-2.0,"distributionBoundary":1.5,"distributionDarkBoundary":2.0},"latest":0.94843,"state":"Positive Market Dynamics ahead of price","context":{"scenario":"dynamicsAhead","latestDirection":"slight strengthening","fourWeekDirection":"strengthening","now":{"label":"Slightly stronger this week","detail":"Market Dynamics strengthened this week and remains positive."},"fourWeek":{"label":"Strengthened over four weeks","detail":"Underlying support has strengthened across the recent completed path."},"price":{"label":"Price is lagging the underlying strength","detail":"Market Dynamics has advanced further through its recent range than price. This is positive divergence and an early-upside watch, but price confirmation is still required."}},"diagnosis":{"label":"Underlying strength ahead of price","detail":"Market Dynamics has strengthened across the recent completed path and remains strongly positive, while price has not advanced as far through its range. The gap is an early-upside watch; a positive price response is needed for confirmation.","tone":"positive"},"chartSummary":"Price is between the outer positioning zones. The Market Dynamics bars show whether underlying support is strengthening or weakening.","summary":"Market Dynamics has strengthened across the recent completed path and remains strongly positive, while price has not advanced as far through its range. The gap is an early-upside watch; a positive price response is needed for confirmation.","annotations":[{"label":"Current tape relationship","value":"Underlying strength ahead of price","detail":"Market Dynamics strengthened this week and remains positive.","tone":"positive"},{"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":"Leading price","detail":"Market Dynamics has advanced further through its recent range than price. This is positive divergence and an early-upside watch, but price confirmation is still required.","tone":"positive"}],"relationshipEvidence":{"available":false,"observations":20,"summary":"More completed weekly history is needed for a dependable ticker-level record."},"events":{"positioning_recoveries":[],"reversal_warnings":[],"reversal_dangers":[]}},"smTape":{"available":true,"dates":["2025-09-26","2025-10-03","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":[1625.62,1396.5774,1416.9583,1378.1375,1450.9264,1446.0739,1426.6635,1471.3074,1415.0172,1406.2826,1325.7295,1364.5502,1316.0243,1326.7,1306.0,1349.0,1330.0,1297.0,1263.0,1224.0,1100.0,1088.0,1131.0,1074.0,1033.0,1025.0,1129.0,1216.0,1231.0,1215.0,1138.0,1145.0,1212.0,1126.0,1056.0,1055.0,1069.0,1060.0,1058.0,1101.0,1139.0,1167.0,1113.0,1125.0,1134.0,1118.0,1117.0,1126.0],"consensus":[-91.9732,-86.0465,72.6618,-34.2574,-10.6426,0.0,0.0,11.3533,-8.6475,-9.3658,-26.8648,0.0,-24.9582,0.0,-22.8332,8.3281,-9.8518,-13.0545,-16.5921,-27.8597,-57.2672,-21.5048,-8.7442,-34.4707,-29.4316,-31.7793,21.0363,36.2753,19.2134,10.3194,-27.1276,-12.3343,25.2706,-34.7874,-37.5406,-19.36,-13.875,-13.9029,-21.7343,19.7075,18.6709,37.0617,-13.4764,11.4335,8.6214,-15.3348,0.0,6.2691],"supportDates":["2025-09-26","2025-10-03","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,0.0,0.0,14.8579,-7.5181,-10.6028,-29.8979,0.0,-27.5358,0.0,-32.5606,16.6925,-15.1847,-14.1157,-19.7262,-32.0723,-54.07,-12.9424,-0.7787,-32.732,-31.8176,-39.7417,18.401,36.8778,13.0277,1.603,-39.1347,-13.5555,36.6461,-34.511,-37.3881,-17.3792,-6.855,-9.7562,-33.5233,24.8193,15.7886,41.4156,-27.0629,9.6583,10.3578,-17.1103,0.0,4.8575],"force":[-91.9732,-86.0465,72.6618,-34.2574,-7.0853,0.0,0.0,17.5168,-7.2813,-4.304,-26.0043,0.0,-22.6403,0.0,-16.4322,18.4097,-7.173,-11.9495,-10.7436,-21.4956,-81.4838,-5.4099,-12.4965,-30.9753,-17.2491,-15.0435,67.6369,54.7469,15.6889,2.4928,-38.0173,-8.2743,30.473,-56.066,-46.9595,-5.8688,-0.4662,-3.358,-12.7816,29.8155,17.4695,32.7044,-26.8469,15.8399,7.818,-22.9428,0.0,9.2258],"direction":[null,null,null,null,-23.3055,0.0,0.0,2.9455,-10.914,-11.5677,-24.0129,0.0,-23.6681,0.0,-16.2885,8.4324,-5.6704,-12.6309,-17.1877,-27.5909,-43.6236,-42.7868,-33.0195,-38.9545,-35.4064,-34.6335,9.238,22.3927,28.8003,25.8714,-5.6269,-13.8387,8.554,-19.9044,-30.987,-31.2603,-31.4757,-26.174,-14.6559,6.6453,22.823,35.1982,-11.6015,10.3147,7.2108,-7.8715,0.0,5.7705],"intensity":[null,null,null,null,25.0,20.0,33.3333,42.8571,50.0,33.3333,80.0,27.2727,50.0,46.1538,21.4286,40.0,25.0,64.7059,22.2222,42.1053,90.0,90.4762,77.2727,65.2174,66.6667,4.0,84.6154,81.4815,82.1429,6.8966,70.0,35.4839,62.5,78.7879,82.3529,54.2857,5.5556,16.2162,13.1579,41.0256,57.5,17.0732,52.381,9.3023,15.9091,11.1111,17.3913,6.383],"confirmation":[52.0981,50.2016,45.9184,33.629,27.5292,0.9199,1.2198,49.1008,25.4094,48.1573,76.5243,3.4495,75.8767,3.7701,74.9633,27.3104,25.6563,72.1276,73.0835,76.6569,87.1123,51.8548,4.9381,78.9506,77.0105,77.538,32.8294,80.1618,74.1351,25.8632,54.1631,71.8046,76.0718,79.7847,80.3024,51.1475,26.805,49.5241,74.5025,51.8699,73.982,79.6606,29.6545,71.82,25.3746,50.4453,1.492,24.7844],"persistence":[null,null,33.3333,50.0,60.0,50.0,42.8571,25.0,25.0,25.0,50.0,37.5,37.5,37.5,50.0,50.0,50.0,50.0,50.0,62.5,62.5,75.0,75.0,100.0,100.0,100.0,75.0,50.0,25.0,0.0,0.0,0.0,25.0,25.0,0.0,25.0,50.0,75.0,75.0,50.0,50.0,25.0,25.0,0.0,25.0,25.0,37.5,25.0],"assessmentRisk":[null,null,null,null,40.2119,22.9557,6.8782,32.7691,15.3408,17.9265,29.3051,42.5722,30.8367,38.7943,10.4055,21.2398,20.6815,26.6183,32.4824,35.9271,21.3637,39.2413,45.2765,32.6408,31.3886,29.5352,12.4025,31.0207,40.2825,44.6951,20.9241,35.0888,27.2618,28.1758,24.861,35.6673,42.3523,34.1385,12.6294,26.3133,36.3903,30.5591,47.786,19.5259,10.0703,35.0135,7.6738,1.0487],"volumeParticipation":true,"latest":{"consensus":6.3,"control":4.9,"force":9.2,"direction":5.8,"confirmation":24.8,"persistence":25.0,"assessmentRisk":1.0,"intensity":6.4,"evidenceDepth":100},"analysis":{"status":"Market Dynamics 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":"Market Dynamics","direction":"upward","disagreement":false},"support":{"window":"Latest 12 months","controlState":"Control support is limited","controlPath":"Broadly stable","forceState":"Commitment is limited","forcePath":"Broadly stable","directionState":"Follow-through is limited","persistenceState":"Unsettled","confirmationState":"Limited support","riskState":"Contained","intensityState":"Quiet"},"cards":[{"label":"SM Consensus Gauge","value":"+6.3","detail":"Market Dynamics has stronger support","tone":"positive"},{"label":"SM Control Gauge","value":"+4.9","detail":"Control support is limited","tone":"positive"},{"label":"SM Force Gauge","value":"+9.2","detail":"Commitment is limited","tone":"positive"},{"label":"SM Direction Gauge","value":"+5.8","detail":"Follow-through is limited","tone":"positive"},{"label":"SM Confirmation Gauge","value":"25/100","detail":"Limited support","tone":"caution"}]},"kpis":[{"label":"Price structure","value":"Rotational","detail":"completed-week alignment","tone":"caution"},{"label":"Momentum","value":"37.0","detail":"Negative","tone":"negative"},{"label":"Risk pressure","value":"7.2%","detail":"Contained","tone":"neutral"},{"label":"Trend quality","value":"26.8","detail":"Directional","tone":"positive"},{"label":"Range position","value":"51%","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 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risk","title":"Drawdown and recovery pressure","description":"Capital impairment and recovery are shown together so return is not separated from path difficulty.","reason":"Selected because the current recovery or drawdown path is central to the tape.","series":[{"label":"Drawdown","values":[0.0,-14.0896,-12.8358,-15.2239,-10.7463,-11.0448,-12.2388,-9.4925,-12.9552,-13.4925,-18.4478,-16.0597,-19.0448,-18.3881,-19.6614,-17.0163,-18.1851,-20.2151,-22.3066,-24.7057,-32.3335,-33.0717,-30.4265,-33.9329,-36.455,-36.9471,-30.5496,-25.1978,-24.275,-25.2593,-29.9959,-29.5653,-25.4438,-30.7341,-35.0402,-35.1017,-34.2405,-34.7941,-34.9171,-32.272,-29.9344,-28.212,-31.5338,-30.7956,-30.242,-31.2262,-31.2878,-30.7341],"stroke":"#c13f3f","width":1.9,"fill":"rgba(193,63,63,.10)"},{"label":"Recovery","values":[null,null,null,null,null,null,null,6.7606,2.6761,2.0423,0.0,2.9283,0.0,0.8112,0.0,3.2925,1.8377,0.0,0.0,0.0,0.0,0.0,3.9522,0.0,0.0,0.0,10.1463,18.6341,20.0976,18.5366,11.0244,11.7073,18.2439,9.8537,3.0244,2.9268,4.2927,3.4146,3.2195,7.4146,11.122,13.8537,8.5854,9.7561,10.6341,9.0732,8.9756,9.8537],"stroke":"#07865c","width":1.7}],"guides":[{"label":"Prior 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Market Dynamics construction and private inputs are not disclosed. Historical research is not a forecast or instruction to trade."}