{"schema_version":"1.0","name":"QQIA Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"542085ac-145c-49cc-92a2-225ea55f2ba6","symbol":"QQIA","name":"Invesco Markets II plc - Invesco Nasdaq-100 Income Advantage UCITS ETFDist","exchange":"LSE","country":"GB","asset_type":"etf","currency":"USD","sector":null,"industry":null},"summary":"The completed price path and its progression through the positioning zones can be described, but there is not enough usable Market Dynamics history to confirm or challenge the technical state.","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":29,"displayedObservations":29,"assetType":"ETF","state":"Aligned upward","stateTone":"positive","summary":"The completed price path and its progression through the positioning zones can be described, but there is not enough usable Market Dynamics history to confirm or challenge the technical state.","evidenceAlignment":{"status":"Evidence developing","headline":"Price structure is visible; Market Dynamics is not yet established","summary":"The completed price path and its progression through the positioning zones can be described, but there is not enough usable Market Dynamics history to confirm or challenge the technical state.","take":"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.","tone":"neutral","conflict":false},"marketDynamics":{"available":true,"readAvailable":false,"dates":["2026-08-21"],"values":[-0.036902],"opens":[21.370001],"highs":[21.385],"lows":[20.799999],"closes":[20.862499],"hoverRows":[[{"label":"Open","value":"21.4","className":"is-ohlc","compact":true},{"label":"High","value":"21.4","className":"is-ohlc","compact":true},{"label":"Low","value":"20.8","className":"is-ohlc","compact":true},{"label":"Close","value":"20.9","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"Unavailable","note":"Insufficient completed history","className":"is-muted","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}]],"pressureRange":[-2.3,2.3],"priceRange":[19.742499,21.982499],"zones":{"accumulationBoundary":-1.5,"accumulationDarkBoundary":-2.0,"distributionBoundary":1.5,"distributionDarkBoundary":2.0},"state":"Insufficient history","context":{"scenario":"developing","latestDirection":"steady","fourWeekDirection":"steady","now":{"label":"Little changed this week","detail":"Market Dynamics remains below zero and was little changed this week."},"fourWeek":{"label":"Broadly steady over four weeks","detail":"The broader path has not changed enough to establish a new direction."},"price":{"label":"Price and Market Dynamics are broadly aligned","detail":"The current price response is broadly consistent with the underlying Market Dynamics path."}},"diagnosis":{"label":"Zone progression","detail":"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.","tone":"neutral"},"chartSummary":"Price is between the outer positioning zones. The Market Dynamics bars show whether underlying support is strengthening or weakening.","summary":"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.","annotations":[{"label":"Current tape relationship","value":"Zone progression","detail":"Market Dynamics remains below zero and was little changed this week.","tone":"neutral"},{"label":"Price location","value":"Between zones","detail":"Price is progressing between the lower and upper positioning zones while the Market Dynamics read develops.","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":"Unavailable","detail":"Too little usable Market Dynamics history is available for a directional confirmation read.","tone":"neutral"}],"relationshipEvidence":{"available":false,"observations":21,"summary":"More completed weekly history is needed for a dependable ticker-level record."},"events":{"positioning_recoveries":[],"reversal_warnings":[],"reversal_dangers":[]}},"smTape":{"available":true,"dates":["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":[19.1327,19.0657,19.1563,19.2282,19.1435,18.9302,18.7684,18.2611,18.7783,19.3876,19.9031,20.3419,20.4319,21.0247,20.9374,21.148,21.4899,21.0092,21.024,21.4403,20.8432,21.0538,20.9968,20.4248,20.2639,20.0955,21.1255,21.21,20.8625],"consensus":[-49.3566,-68.0937,31.5311,-30.5872,0.0,-14.843,-26.1627,-47.7257,14.9353,39.0905,60.5694,61.1714,40.3455,74.3275,35.0178,55.8785,54.5488,0.0,26.0087,25.9983,0.0,10.5641,14.3744,-30.6745,-32.4301,-30.4584,47.3298,28.6242,11.9499],"supportDates":["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,-15.5098,-27.6545,-45.8529,24.6943,37.0471,49.8773,59.2538,32.7876,70.0901,29.9263,54.9855,49.7005,0.0,33.0,23.8053,0.0,9.5344,21.7485,-29.1224,-32.9826,-25.0719,49.076,25.9596,22.1223],"force":[-49.3566,-68.0937,31.5311,-30.5872,0.0,-15.7318,-23.7181,-43.8821,46.3174,50.9974,83.2358,56.2963,18.7936,85.6898,3.9981,48.7462,60.1274,0.0,11.4312,10.378,0.0,1.1432,5.3441,-32.6903,-30.9818,-23.6015,81.5976,23.928,37.472],"direction":[null,null,null,null,0.0,-13.446,-26.204,-52.6114,18.6338,32.9209,56.5988,66.8453,64.3773,71.0543,62.9934,61.9934,56.1049,0.0,28.4312,39.6619,0.0,18.47,12.3971,-31.0085,-32.8331,-41.5124,20.8572,35.0238,17.9058],"intensity":[null,null,null,null,100.0,100.0,83.3333,71.4286,75.0,77.7778,60.0,90.9091,41.6667,69.2308,14.2857,80.0,62.5,41.1765,22.2222,89.4737,100.0,33.3333,9.0909,65.2174,8.3333,64.0,100.0,70.3704,28.5714],"confirmation":[38.4608,44.4566,32.7566,32.4546,0.2705,72.7667,76.2748,83.1836,32.2289,80.903,88.2359,87.4555,80.3689,92.1957,55.6712,85.6773,85.6995,6.5237,75.772,75.8768,25.5825,48.4424,49.5456,77.9009,78.3251,77.6198,84.1633,77.0572,30.9333],"persistence":[null,null,33.3333,50.0,40.0,50.0,57.1429,62.5,37.5,12.5,12.5,12.5,25.0,50.0,75.0,100.0,100.0,87.5,87.5,87.5,75.0,75.0,75.0,50.0,25.0,12.5,12.5,12.5,0.0],"assessmentRisk":[null,null,null,null,6.406,34.4721,36.8237,26.1339,50.8935,24.5264,19.573,19.4137,29.8226,12.829,32.2443,21.1386,22.5001,2.3819,1.581,20.1813,44.3615,0.7334,11.0707,34.2152,29.9204,34.2729,9.169,33.141,49.8863],"volumeParticipation":true,"latest":{"consensus":11.9,"control":22.1,"force":37.5,"direction":17.9,"confirmation":30.9,"persistence":0.0,"assessmentRisk":49.9,"intensity":28.6,"evidenceDepth":100},"analysis":{"status":"Price structure has the available support","headline":"The gauges support the price-technical view","summary":"Market Dynamics does not provide a directional confirmation. The completed evidence supports the upward price structure.","take":"Current assessment: follow price structure with limited confirmation.","tone":"positive","supportedView":"Price structure","direction":"upward","disagreement":false},"support":{"window":"Latest 12 months","controlState":"Buyer control supports the view","controlPath":"Control support is easing","forceState":"Upward commitment","forcePath":"Broadly stable","directionState":"Upward follow-through","persistenceState":"Unsettled","confirmationState":"Limited support","riskState":"Present","intensityState":"Quiet"},"cards":[{"label":"SM Consensus Gauge","value":"+11.9","detail":"Price structure has the available support","tone":"positive"},{"label":"SM Control Gauge","value":"+22.1","detail":"Buyer control supports the view","tone":"positive"},{"label":"SM Force Gauge","value":"+37.5","detail":"Upward commitment","tone":"positive"},{"label":"SM Direction Gauge","value":"+17.9","detail":"Upward follow-through","tone":"positive"},{"label":"SM Confirmation Gauge","value":"31/100","detail":"Limited support","tone":"caution"}]},"kpis":[{"label":"Price structure","value":"Aligned upward","detail":"completed-week alignment","tone":"positive"},{"label":"Momentum","value":"54.5","detail":"Positive","tone":"positive"},{"label":"Risk pressure","value":"3.4%","detail":"Contained","tone":"neutral"},{"label":"Trend quality","value":"38.5","detail":"Directional","tone":"positive"},{"label":"Range position","value":"72%","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":[19.1327,19.0657,19.1563,19.2282,19.1435,18.9302,18.7684,18.2611,18.7783,19.3876,19.9031,20.3419,20.4319,21.0247,20.9374,21.148,21.4899,21.0092,21.024,21.4403,20.8432,21.0538,20.9968,20.4248,20.2639,20.0955,21.1255,21.21,20.8625],"stroke":"#10243b","width":2.1},{"label":"Fast trend","values":[null,null,null,null,19.1451,19.106,19.0446,18.9022,18.8796,18.972,19.1413,19.3596,19.5546,19.8219,20.0247,20.2289,20.4582,20.5584,20.6431,20.788,20.798,20.8445,20.8722,20.7909,20.6951,20.586,20.6841,20.7797,20.7948],"stroke":"#176fa3","width":1.7},{"label":"Slow trend","values":[null,null,null,null,null,null,null,null,null,null,null,null,19.2894,19.418,19.5305,19.6503,19.7866,19.8772,19.9621,20.0716,20.1288,20.1973,20.2565,20.269,20.2686,20.2558,20.3202,20.3861,20.4214],"stroke":"#07865c","width":1.8},{"label":"Upper envelope","values":[null,null,null,null,null,null,null,null,null,19.5921,19.8518,20.2032,20.4653,20.8592,21.1079,21.3524,21.6295,21.7399,21.8317,21.9816,22.0696,22.1679,22.2448,22.2558,22.244,22.1976,22.1826,22.0055,21.8065],"stroke":"#98a9b8","width":1.0,"dash":[6,5]},{"label":"Lower envelope","values":[null,null,null,null,null,null,null,null,null,18.3783,18.2855,18.1463,18.0777,17.9342,17.8909,17.8525,17.7974,17.8311,17.8696,17.8787,17.9617,18.0622,18.1694,18.278,18.4018,18.5647,18.8155,19.2875,19.6949],"stroke":"#98a9b8","width":1.0,"dash":[6,5]}],"guides":[],"dates":["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"]},{"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,26.0349,73.7524,53.9621,198.3545,83.6298,3.4208,292.4193,223.6511,194.7582,206.5498,3.5443,0.9087,3.3917,21.1305,1.9548,8.8208,3.591,17.105,13.2349,96.7655,572.752,25.9354],"stroke":"#1678a7","width":1.8},{"label":"Cumulative balance","values":[null,null,null,null,null,null,null,65.0,71.0915,75.3315,92.6172,99.7983,100.0702,127.3465,104.4637,125.734,135.0,134.7248,134.7916,135.0,133.5458,133.6679,133.1433,132.9351,131.9433,131.1782,135.0,135.0,134.1761],"stroke":"#07865c","width":1.7}],"guides":[{"label":"Typical activity","values":[100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0],"stroke":"#8fa0af","width":1.0,"dash":[6,5]}],"dates":["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"]},{"key":"directional","eyebrow":"Trend quality","title":"Directional strength and control","description":"Directional pressure shows which side controls the tape while strength remains direction-neutral.","reason":"Selected because directional control or trend strength is materially changing.","series":[{"label":"Trend strength","values":[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,41.5316,40.0958,38.4658],"stroke":"#10243b","width":2.0},{"label":"Positive direction","values":[null,null,null,null,null,null,null,null,null,null,null,null,null,20.5944,18.7169,18.0388,21.5485,20.4666,19.7296,25.5813,23.768,26.1438,25.7369,23.9769,25.0165,23.0648,28.4106,28.0051,26.351],"stroke":"#07865c","width":1.6},{"label":"Negative direction","values":[null,null,null,null,null,null,null,null,null,null,null,null,null,5.2942,6.9928,6.7395,6.3027,6.3969,8.2025,7.54,13.0555,12.5169,13.1371,18.0861,17.0489,21.273,18.8587,18.1206,18.5871],"stroke":"#c13f3f","width":1.6}],"guides":[],"dates":["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"]},{"key":"volatility","eyebrow":"Risk geometry","title":"Range pressure and compression","description":"Movement pressure and envelope width show whether risk is expanding, settling or compressed.","reason":"Selected because current variability is unusually compressed or expanded versus this ticker's own tape.","series":[{"label":"Range pressure","values":[null,null,null,null,null,null,null,null,null,null,null,null,null,4.0122,4.1164,3.9266,3.8368,3.8369,3.6933,3.6584,3.761,3.6062,3.4108,3.4948,3.47,3.5241,3.5113,3.3798,3.3909],"stroke":"#c13f3f","width":1.9},{"label":"Envelope width","values":[null,null,null,null,null,null,null,null,null,6.3931,8.2142,10.7267,12.3894,15.0799,16.4975,17.8548,19.439,19.7559,19.9597,20.5865,20.5236,20.4114,20.1679,19.6268,18.9058,17.8247,16.4261,13.1645,10.1763],"stroke":"#b87806","width":1.7}],"guides":[],"dates":["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"]},{"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,-3.8615,29.749,58.0552,82.0059,100.6802,87.8492,100.0,92.0942,99.0219,93.633,80.2055,80.6194,87.5239,71.699,77.2804,75.7697,60.6104,56.3448,51.8823,79.1822,81.4209,72.2108],"stroke":"#10243b","width":2.0},{"label":"From high","values":[null,null,null,null,null,null,null,-10.0016,-7.4525,-4.4496,-1.9089,0.0733,-1.5292,0.0,-1.1348,-0.1404,-1.0495,-3.2628,-3.1946,-2.1484,-4.8734,-3.9123,-4.1724,-6.7828,-7.5173,-8.2857,-3.5848,-3.1993,-4.7852],"stroke":"#c13f3f","width":1.5},{"label":"From 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