{"schema_version":"1.0","name":"ELAD Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-14","ticker":{"uuid":"5b7a550e-c276-42b4-add5-07b0362363c7","symbol":"ELAD","name":"ELAD SOFTWARE","exchange":"TLV","country":"IL","asset_type":"equity","currency":"ILA","sector":"Technology","industry":"Software - Application"},"summary":"Price structure and the underlying tape currently reinforce the same downside read.","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, Acceleration, deceleration and rollover, Strength versus the research benchmark, Drawdown and recovery pressure, Range pressure and compression, 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":"2026-08-14","observations":77,"displayedObservations":77,"assetType":"Equity","state":"Aligned downward","stateTone":"negative","summary":"Price structure and the underlying tape currently reinforce the same downside read.","evidenceAlignment":{"status":"Evidence aligned downward","headline":"Downward price structure is confirmed by Market Dynamics","summary":"Price structure and the underlying tape currently reinforce the same downside read.","take":"The downside state remains confirmed until Market Dynamics repairs or price structure changes.","tone":"negative","conflict":false},"marketDynamics":{"available":true,"readAvailable":true,"dates":["2025-09-12","2025-09-19","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"],"values":[0.931351,1.203527,1.127096,1.083965,0.983823,0.925111,0.715799,0.453154,0.139026,-0.011464,-0.052045,0.000665,0.039931,-0.185948,-0.256725,-0.288823,-0.169315,-0.067636,-0.084907,-0.151894,-0.583097,-0.925141,-1.229337,-1.560938,-1.608313,-1.582585,-1.641682,-1.638832,-1.664242,-1.726189,-1.69681,-1.705329,-1.611217,-1.457953,-1.200507,-0.658554,-0.181949,0.236981,0.584177,0.586956,0.579492,0.542132,0.381281,0.297211,0.223689,0.077378,-0.081958,-0.258453,-0.548748],"opens":[115300.0,118300.0,124000.0,120600.0,122700.0,124900.0,122500.0,121400.0,116600.0,117700.0,126000.0,126900.0,133000.0,125000.0,123200.0,129600.0,131500.0,134900.0,128900.0,131000.0,129300.0,118100.0,110200.0,96000.0,102100.0,113000.0,104000.0,105000.0,100800.0,99450.0,98579.9988,98800.0,97829.9988,99940.0024,99800.0,98670.0012,107700.0,110600.0,113800.0,115400.0,111600.0,112500.0,112700.0,105000.0,107700.0,108500.0,103000.0,99840.0024,100000.0],"highs":[121100.0,120700.0,124000.0,124200.0,125400.0,127500.0,125900.0,125000.0,119600.0,129900.0,149400.0,132000.0,134300.0,127700.0,129500.0,134800.0,136900.0,138700.0,137700.0,133500.0,130900.0,118100.0,116900.0,103400.0,102500.0,113000.0,104000.0,105000.0,101500.0,100000.0,99900.0,100000.0,100000.0,100000.0,99800.0,109100.0,112500.0,113800.0,122000.0,121800.0,121700.0,118100.0,115500.0,111500.0,115400.0,109500.0,112000.0,105000.0,100000.0],"lows":[113300.0,115300.0,114400.0,116500.0,120000.0,119400.0,118500.0,109700.0,112600.0,117000.0,122800.0,125100.0,124000.0,121100.0,121500.0,124800.0,128000.0,126000.0,124700.0,122600.0,116300.0,108000.0,96420.0012,96000.0,92200.0,101900.0,95400.0,96950.0,93940.0024,83309.9976,93800.0,94509.9976,97829.9988,99800.0,90100.0,96440.0024,104100.0,103300.0,111700.0,105800.0,105000.0,104000.0,103600.0,103200.0,101300.0,102000.0,98800.0,89200.0,90000.0],"closes":[118500.0,118400.0,118200.0,120500.0,124600.0,123900.0,119100.0,117900.0,117400.0,125500.0,125600.0,128400.0,126100.0,123700.0,128300.0,131700.0,134900.0,128900.0,128800.0,129300.0,118100.0,110200.0,98409.9976,102100.0,100700.0,104000.0,99820.0012,100800.0,99450.0,98579.9988,98800.0,97829.9988,99940.0024,99800.0,98670.0012,107000.0,110600.0,113100.0,115400.0,111600.0,112500.0,110500.0,105000.0,107700.0,108500.0,103000.0,99840.0024,96129.9988,92779.9988],"pressureRange":[-1.967855,1.967855],"priceRange":[92779.9988,134900.0],"zones":{"accumulationBoundary":0.118874,"distributionBoundary":0.881126},"latest":-0.548748,"state":"Negative and weakening","context":{"scenario":"negativeWeakening","latestDirection":"easing","fourWeekDirection":"weakening","now":{"label":"Easier this week","detail":"Market Dynamics weakened this week and remains below zero."},"fourWeek":{"label":"Weakened over four weeks","detail":"Underlying support has contracted across the recent completed path."},"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":"Accumulation pressure","detail":"Price is within accumulation conditions, but the completed tape has not yet confirmed a recovery. The zone is a watch area rather than a directional signal.","tone":"negative"},"chartSummary":"Price is in the accumulation zone. The Market Dynamics bars show whether underlying conditions are repairing or continuing to weaken.","summary":"Price is within accumulation conditions, but the completed tape has not yet confirmed a recovery. The zone is a watch area rather than a directional signal.","annotations":[{"label":"Current tape relationship","value":"Accumulation pressure","detail":"Market Dynamics weakened this week and remains below zero.","tone":"negative"},{"label":"Price location","value":"Accumulation zone","detail":"Price is being tested for a confirmed recovery through the lower zone.","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":"Weakening","detail":"Underlying support has contracted across the recent completed path.","tone":"negative"}],"relationshipEvidence":{"available":true,"asOf":"2026-08-14","observations":49,"relationship":{"sameWeekCorrelation":0.53,"forwardCorrelation":-0.22,"directionalAgreement":54.5,"sample":44,"correlationSample":48,"label":"Strong relationship"},"accumulation":{"label":"Accumulation","episodes":1,"completedEpisodes":0,"activeEpisodes":1,"horizons":[{"weeks":4,"sample":0,"expectedCount":0,"confidence":"Not enough evidence"},{"weeks":12,"sample":0,"expectedCount":0,"confidence":"Not enough evidence"},{"weeks":26,"sample":0,"expectedCount":0,"confidence":"Not enough evidence"}],"path":[{"week":0,"sample":0},{"week":1,"averageReturn":-3.5,"sample":1},{"week":2,"sample":0},{"week":3,"sample":0},{"week":4,"sample":0},{"week":5,"sample":0},{"week":6,"sample":0},{"week":7,"sample":0},{"week":8,"sample":0},{"week":9,"sample":0},{"week":10,"sample":0},{"week":11,"sample":0},{"week":12,"sample":0},{"week":13,"sample":0},{"week":14,"sample":0},{"week":15,"sample":0},{"week":16,"sample":0},{"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}]},"distribution":{"label":"Distribution","episodes":1,"completedEpisodes":1,"activeEpisodes":0,"averageWeeksInZone":2.0,"medianWeeksInZone":2,"averageWeeksToLower":2.0,"expectedExitPercent":100.0,"horizons":[{"weeks":4,"sample":1,"expectedCount":1,"expectedPercent":100.0,"medianReturn":-1.8,"averageReturn":-1.8,"confidenceLow":20.7,"confidenceHigh":100.0,"confidence":"Mixed historical record"},{"weeks":12,"sample":1,"expectedCount":1,"expectedPercent":100.0,"medianReturn":-23.5,"averageReturn":-23.5,"confidenceLow":20.7,"confidenceHigh":100.0,"confidence":"Mixed historical record"},{"weeks":26,"sample":1,"expectedCount":1,"expectedPercent":100.0,"medianReturn":-16.1,"averageReturn":-16.1,"confidenceLow":20.7,"confidenceHigh":100.0,"confidence":"Mixed historical record"}],"path":[{"week":0,"sample":0},{"week":1,"averageReturn":2.4,"sample":1},{"week":2,"averageReturn":-2.1,"sample":1},{"week":3,"averageReturn":-2.2,"sample":1},{"week":4,"averageReturn":-1.8,"sample":1},{"week":5,"averageReturn":-10.3,"sample":1},{"week":6,"averageReturn":-16.3,"sample":1},{"week":7,"averageReturn":-25.3,"sample":1},{"week":8,"averageReturn":-22.5,"sample":1},{"week":9,"averageReturn":-23.5,"sample":1},{"week":10,"averageReturn":-21.0,"sample":1},{"week":11,"averageReturn":-24.2,"sample":1},{"week":12,"averageReturn":-23.5,"sample":1},{"week":13,"averageReturn":-24.5,"sample":1},{"week":14,"averageReturn":-25.1,"sample":1},{"week":15,"averageReturn":-25.0,"sample":1},{"week":16,"averageReturn":-25.7,"sample":1},{"week":17,"averageReturn":-24.1,"sample":1},{"week":18,"averageReturn":-24.2,"sample":1},{"week":19,"averageReturn":-25.1,"sample":1},{"week":20,"averageReturn":-18.8,"sample":1},{"week":21,"averageReturn":-16.0,"sample":1},{"week":22,"averageReturn":-14.1,"sample":1},{"week":23,"averageReturn":-12.4,"sample":1},{"week":24,"averageReturn":-15.3,"sample":1},{"week":25,"averageReturn":-14.6,"sample":1},{"week":26,"averageReturn":-16.1,"sample":1}]},"regimes":{"alignedPositive":{"label":"Price and Market Dynamics positive","kind":"aligned","expectedDirection":"higher","episodes":3,"completedEpisodes":2,"activeEpisodes":1,"medianExpectedMove":6.7,"averageExpectedMove":6.7,"averageWeeksToLargestMove":8.5,"horizons":[{"weeks":4,"sample":3,"expectedCount":1,"expectedPercent":33.3,"averageReturn":-1.8,"medianReturn":-2.3,"confidenceLow":6.1,"confidenceHigh":79.2,"confidence":"Mixed historical record"},{"weeks":12,"sample":2,"expectedCount":1,"expectedPercent":50.0,"averageReturn":-6.1,"medianReturn":-6.1,"confidenceLow":9.5,"confidenceHigh":90.5,"confidence":"Mixed historical record"},{"weeks":26,"sample":2,"expectedCount":0,"expectedPercent":0.0,"averageReturn":-16.3,"medianReturn":-16.3,"confidenceLow":0.0,"confidenceHigh":65.8,"confidence":"Mixed historical record"}],"path":[{"week":0,"sample":0},{"week":1,"averageReturn":-0.1,"sample":3},{"week":2,"averageReturn":-3.1,"sample":3},{"week":3,"averageReturn":-2.0,"sample":3},{"week":4,"averageReturn":-1.8,"sample":3},{"week":5,"averageReturn":-0.5,"sample":3},{"week":6,"averageReturn":-1.2,"sample":3},{"week":7,"averageReturn":-0.2,"sample":3},{"week":8,"averageReturn":-2.3,"sample":3},{"week":9,"averageReturn":-6.8,"sample":3},{"week":10,"averageReturn":-8.7,"sample":3},{"week":11,"averageReturn":-11.9,"sample":3},{"week":12,"averageReturn":-6.1,"sample":2},{"week":13,"averageReturn":-9.1,"sample":2},{"week":14,"averageReturn":-7.8,"sample":2},{"week":15,"averageReturn":-9.2,"sample":2},{"week":16,"averageReturn":-13.4,"sample":2},{"week":17,"averageReturn":-17.1,"sample":2},{"week":18,"averageReturn":-22.1,"sample":2},{"week":19,"averageReturn":-20.6,"sample":2},{"week":20,"averageReturn":-21.5,"sample":2},{"week":21,"averageReturn":-19.3,"sample":2},{"week":22,"averageReturn":-21.1,"sample":2},{"week":23,"averageReturn":-21.1,"sample":2},{"week":24,"averageReturn":-18.4,"sample":2},{"week":25,"averageReturn":-17.4,"sample":2},{"week":26,"averageReturn":-16.3,"sample":2}]},"alignedNegative":{"label":"Price and Market Dynamics negative","kind":"aligned","expectedDirection":"lower","episodes":5,"completedEpisodes":4,"activeEpisodes":1,"medianExpectedMove":11.7,"averageExpectedMove":12.2,"averageWeeksToLargestMove":9.2,"horizons":[{"weeks":4,"sample":4,"expectedCount":2,"expectedPercent":50.0,"averageReturn":-0.7,"medianReturn":0.6,"confidenceLow":15.0,"confidenceHigh":85.0,"confidence":"Mixed historical record"},{"weeks":12,"sample":4,"expectedCount":2,"expectedPercent":50.0,"averageReturn":-7.1,"medianReturn":-7.4,"confidenceLow":15.0,"confidenceHigh":85.0,"confidence":"Mixed historical record"},{"weeks":26,"sample":2,"expectedCount":2,"expectedPercent":100.0,"averageReturn":-15.1,"medianReturn":-15.1,"confidenceLow":34.2,"confidenceHigh":100.0,"confidence":"Mixed historical record"}],"path":[{"week":0,"sample":0},{"week":1,"averageReturn":-0.3,"sample":5},{"week":2,"averageReturn":-1.1,"sample":5},{"week":3,"averageReturn":-0.5,"sample":4},{"week":4,"averageReturn":-0.7,"sample":4},{"week":5,"averageReturn":-1.4,"sample":4},{"week":6,"averageReturn":-0.5,"sample":4},{"week":7,"averageReturn":-4.4,"sample":4},{"week":8,"averageReturn":-5.1,"sample":4},{"week":9,"averageReturn":-6.2,"sample":4},{"week":10,"averageReturn":-4.8,"sample":4},{"week":11,"averageReturn":-5.8,"sample":4},{"week":12,"averageReturn":-7.1,"sample":4},{"week":13,"averageReturn":-8.2,"sample":4},{"week":14,"averageReturn":-9.4,"sample":4},{"week":15,"averageReturn":-13.0,"sample":3},{"week":16,"averageReturn":-10.2,"sample":3},{"week":17,"averageReturn":-9.0,"sample":3},{"week":18,"averageReturn":-10.4,"sample":3},{"week":19,"averageReturn":-10.3,"sample":3},{"week":20,"averageReturn":-12.5,"sample":3},{"week":21,"averageReturn":-13.7,"sample":3},{"week":22,"averageReturn":-14.0,"sample":2},{"week":23,"averageReturn":-14.7,"sample":2},{"week":24,"averageReturn":-12.6,"sample":2},{"week":25,"averageReturn":-11.4,"sample":2},{"week":26,"averageReturn":-15.1,"sample":2}]},"priceAhead":{"label":"Price positive, Market Dynamics cautious","kind":"disagreement","expectedDirection":"lower","episodes":5,"completedEpisodes":5,"activeEpisodes":0,"medianExpectedMove":10.2,"averageExpectedMove":9.8,"averageWeeksToLargestMove":7.8,"horizons":[{"weeks":4,"sample":5,"expectedCount":2,"expectedPercent":40.0,"averageReturn":2.6,"medianReturn":0.4,"confidenceLow":11.8,"confidenceHigh":76.9,"confidence":"Mixed historical record"},{"weeks":12,"sample":5,"expectedCount":3,"expectedPercent":60.0,"averageReturn":-4.1,"medianReturn":-10.2,"confidenceLow":23.1,"confidenceHigh":88.2,"confidence":"Mixed historical record"},{"weeks":26,"sample":2,"expectedCount":2,"expectedPercent":100.0,"averageReturn":-13.5,"medianReturn":-13.5,"confidenceLow":34.2,"confidenceHigh":100.0,"confidence":"Mixed historical record"}],"path":[{"week":0,"sample":0},{"week":1,"averageReturn":1.4,"sample":5},{"week":2,"averageReturn":2.3,"sample":5},{"week":3,"averageReturn":2.9,"sample":5},{"week":4,"averageReturn":2.6,"sample":5},{"week":5,"averageReturn":3.9,"sample":5},{"week":6,"averageReturn":3.2,"sample":5},{"week":7,"averageReturn":0.6,"sample":5},{"week":8,"averageReturn":-1.7,"sample":5},{"week":9,"averageReturn":0.3,"sample":5},{"week":10,"averageReturn":-1.3,"sample":5},{"week":11,"averageReturn":-2.1,"sample":5},{"week":12,"averageReturn":-4.1,"sample":5},{"week":13,"averageReturn":-8.3,"sample":5},{"week":14,"averageReturn":-7.1,"sample":4},{"week":15,"averageReturn":-9.0,"sample":4},{"week":16,"averageReturn":-10.5,"sample":4},{"week":17,"averageReturn":-12.1,"sample":3},{"week":18,"averageReturn":-11.0,"sample":3},{"week":19,"averageReturn":-13.3,"sample":3},{"week":20,"averageReturn":-14.8,"sample":3},{"week":21,"averageReturn":-13.9,"sample":3},{"week":22,"averageReturn":-14.3,"sample":3},{"week":23,"averageReturn":-16.1,"sample":2},{"week":24,"averageReturn":-15.3,"sample":2},{"week":25,"averageReturn":-17.2,"sample":2},{"week":26,"averageReturn":-13.5,"sample":2}]},"dynamicsAhead":{"label":"Price cautious, Market Dynamics positive","kind":"disagreement","expectedDirection":"higher","episodes":2,"completedEpisodes":1,"activeEpisodes":1,"medianExpectedMove":14.4,"averageExpectedMove":14.4,"averageWeeksToLargestMove":9.0,"horizons":[{"weeks":4,"sample":2,"expectedCount":1,"expectedPercent":50.0,"averageReturn":1.1,"medianReturn":1.1,"confidenceLow":9.5,"confidenceHigh":90.5,"confidence":"Mixed historical record"},{"weeks":12,"sample":1,"expectedCount":1,"expectedPercent":100.0,"averageReturn":9.7,"medianReturn":9.7,"confidenceLow":20.7,"confidenceHigh":100.0,"confidence":"Mixed historical record"},{"weeks":26,"sample":1,"expectedCount":0,"expectedPercent":0.0,"averageReturn":-15.4,"medianReturn":-15.4,"confidenceLow":0.0,"confidenceHigh":79.3,"confidence":"Mixed historical record"}],"path":[{"week":0,"sample":0},{"week":1,"averageReturn":-2.7,"sample":2},{"week":2,"averageReturn":2.0,"sample":2},{"week":3,"averageReturn":2.4,"sample":2},{"week":4,"averageReturn":1.1,"sample":2},{"week":5,"averageReturn":-1.3,"sample":2},{"week":6,"averageReturn":-4.0,"sample":2},{"week":7,"averageReturn":-3.6,"sample":2},{"week":8,"averageReturn":11.7,"sample":1},{"week":9,"averageReturn":14.4,"sample":1},{"week":10,"averageReturn":9.3,"sample":1},{"week":11,"averageReturn":9.2,"sample":1},{"week":12,"averageReturn":9.7,"sample":1},{"week":13,"averageReturn":0.2,"sample":1},{"week":14,"averageReturn":-6.5,"sample":1},{"week":15,"averageReturn":-16.5,"sample":1},{"week":16,"averageReturn":-13.4,"sample":1},{"week":17,"averageReturn":-14.6,"sample":1},{"week":18,"averageReturn":-11.8,"sample":1},{"week":19,"averageReturn":-15.3,"sample":1},{"week":20,"averageReturn":-14.5,"sample":1},{"week":21,"averageReturn":-15.6,"sample":1},{"week":22,"averageReturn":-16.4,"sample":1},{"week":23,"averageReturn":-16.2,"sample":1},{"week":24,"averageReturn":-17.0,"sample":1},{"week":25,"averageReturn":-15.2,"sample":1},{"week":26,"averageReturn":-15.4,"sample":1}]}},"pricePressureGap":{"label":"Price elevated relative to Market Dynamics","kind":"structuralDivergence","expectedDirection":"lower","episodes":1,"completedEpisodes":1,"activeEpisodes":0,"medianExpectedMove":25.3,"averageExpectedMove":25.3,"averageWeeksToLargestMove":7.0,"horizons":[{"weeks":4,"sample":1,"expectedCount":1,"expectedPercent":100.0,"averageReturn":-1.8,"medianReturn":-1.8,"confidenceLow":20.7,"confidenceHigh":100.0,"confidence":"Mixed historical record"},{"weeks":12,"sample":1,"expectedCount":1,"expectedPercent":100.0,"averageReturn":-23.5,"medianReturn":-23.5,"confidenceLow":20.7,"confidenceHigh":100.0,"confidence":"Mixed historical record"},{"weeks":26,"sample":1,"expectedCount":1,"expectedPercent":100.0,"averageReturn":-16.1,"medianReturn":-16.1,"confidenceLow":20.7,"confidenceHigh":100.0,"confidence":"Mixed historical record"}],"path":[{"week":0,"sample":0},{"week":1,"averageReturn":2.4,"sample":1},{"week":2,"averageReturn":-2.1,"sample":1},{"week":3,"averageReturn":-2.2,"sample":1},{"week":4,"averageReturn":-1.8,"sample":1},{"week":5,"averageReturn":-10.3,"sample":1},{"week":6,"averageReturn":-16.3,"sample":1},{"week":7,"averageReturn":-25.3,"sample":1},{"week":8,"averageReturn":-22.5,"sample":1},{"week":9,"averageReturn":-23.5,"sample":1},{"week":10,"averageReturn":-21.0,"sample":1},{"week":11,"averageReturn":-24.2,"sample":1},{"week":12,"averageReturn":-23.5,"sample":1},{"week":13,"averageReturn":-24.5,"sample":1},{"week":14,"averageReturn":-25.1,"sample":1},{"week":15,"averageReturn":-25.0,"sample":1},{"week":16,"averageReturn":-25.7,"sample":1},{"week":17,"averageReturn":-24.1,"sample":1},{"week":18,"averageReturn":-24.2,"sample":1},{"week":19,"averageReturn":-25.1,"sample":1},{"week":20,"averageReturn":-18.8,"sample":1},{"week":21,"averageReturn":-16.0,"sample":1},{"week":22,"averageReturn":-14.1,"sample":1},{"week":23,"averageReturn":-12.4,"sample":1},{"week":24,"averageReturn":-15.3,"sample":1},{"week":25,"averageReturn":-14.6,"sample":1},{"week":26,"averageReturn":-16.1,"sample":1}]},"currentApplication":{"status":"Evidence aligned downward","tone":"negative","headline":"Price and Market Dynamics remain aligned downward","use":"The downside remains supported until Market Dynamics repairs or price structure changes.","confirm":"The downside state remains confirmed until Market Dynamics repairs or price structure changes.","invalidate":"Reassess the reading when either price structure or the Market Dynamics state changes materially.","level":"negative","direction":"weakening","zone":"accumulation","zoneContext":"Price is within accumulation conditions, but the completed tape has not yet confirmed a recovery. The zone is a watch area rather than a directional signal.","historical":{"label":"Broad directional cases","weeks":12,"direction":"lower","percent":50.0,"averageReturn":-7.1,"sample":4},"nowContext":{"label":"Easier this week","detail":"Market Dynamics weakened this week and remains below zero."},"fourWeekContext":{"label":"Weakened over four weeks","detail":"Underlying support has contracted across the recent completed path."},"priceContext":{"label":"Price structure is downward","detail":"Price is responding in the same broad direction as Market Dynamics."}},"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":"Capital protection","title":"Treat agreement on the downside as a defensive condition","tone":"negative","approach":"Reduce the burden of proof for risk control and raise it for new long exposure. A short position still needs a defined entry, exit and maximum loss.","finding":"In this ticker's completed record, 50.0% of comparable cases moved lower after 12 weeks, with an average move of -7.1% across 4 cases.","watch":"Reassess the reading when either price structure or the Market Dynamics state changes materially."},{"eyebrow":"Disagreement playbook","title":"Use unsupported price strength to tighten discipline","tone":"caution","finding":"Comparable disagreements produced an average pullback of 9.8% across 5 completed cases, with the largest move arriving after 7.8 weeks on average.","approach":"Avoid adding simply because price is rising. Let improving Market Dynamics confirm the move, or let price reset before reassessing it.","watch":"The warning ends when Market Dynamics catches up or price gives way."}]},"summary":"This record compares the ticker's completed price path with its published Market Dynamics history."},"events":{"positioning_recoveries":[],"distribution_rollovers":[],"price_pressure_gaps":[{"date":"2025-12-26","price":131700.0}]}},"smTape":{"available":true,"dates":["2025-02-28","2025-03-07","2025-03-14","2025-03-21","2025-03-28","2025-04-04","2025-04-11","2025-04-18","2025-04-25","2025-05-02","2025-05-09","2025-05-16","2025-05-23","2025-05-30","2025-06-06","2025-06-13","2025-06-20","2025-06-27","2025-07-04","2025-07-11","2025-07-18","2025-07-25","2025-08-01","2025-08-08","2025-08-15","2025-08-22","2025-08-29","2025-09-05","2025-09-12","2025-09-19","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"],"close":[71600.0,70879.9988,69059.9976,71409.9976,71540.0024,66800.0,66400.0,72429.9988,73050.0,73300.0,70509.9976,72000.0,70050.0,74620.0012,73179.9988,73000.0,75300.0,80470.0012,81500.0,86020.0012,98159.9976,108000.0,109600.0,103400.0,103700.0,105200.0,111100.0,115100.0,118500.0,118400.0,118200.0,120500.0,124600.0,123900.0,119100.0,117900.0,117400.0,125500.0,125600.0,128400.0,126100.0,123700.0,128300.0,131700.0,134900.0,128900.0,128800.0,129300.0,118100.0,110200.0,98409.9976,102100.0,100700.0,104000.0,99820.0012,100800.0,99450.0,98579.9988,98800.0,97829.9988,99940.0024,99800.0,98670.0012,107000.0,110600.0,113100.0,115400.0,111600.0,112500.0,110500.0,105000.0,107700.0,108500.0,103000.0,99840.0024,96129.9988,92779.9988],"consensus":[81.7768,36.6705,11.969,48.7608,0.0,-51.0032,-30.1822,51.6856,21.5333,27.9793,-10.5732,14.1588,-39.5337,49.2971,0.0,0.0,48.4308,74.8086,56.967,63.8338,82.6774,81.6006,61.1826,11.8367,30.5669,30.3284,50.3974,52.616,63.0181,40.2521,26.0121,39.3816,54.5875,30.0357,0.0,0.0,0.0,48.1964,14.6449,33.468,0.0,0.0,37.534,32.6369,42.7015,-14.8815,0.0,0.0,-57.288,-63.6923,-72.6139,-14.6696,-32.882,-25.8209,-31.5083,-23.256,-20.8608,-17.7198,-11.036,-20.8094,0.0,-21.9527,-8.8439,46.125,36.7984,38.18,31.6872,0.0,12.3791,0.0,-31.028,0.0,0.0,-33.2119,-29.8665,-36.2865,-42.771],"supportDates":["2025-08-22","2025-08-29","2025-09-05","2025-09-12","2025-09-19","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"],"control":[31.3259,43.3506,47.8286,56.2389,36.3593,17.7983,38.3824,62.2583,28.1875,0.0,0.0,0.0,51.2624,7.1108,31.8548,0.0,0.0,43.8904,36.8344,44.6195,-15.923,0.0,0.0,-48.477,-58.0407,-67.399,-2.6624,-20.1199,-29.3182,-37.3185,-24.6513,-18.5536,-9.5832,-6.8112,-18.3111,0.0,-34.7788,-6.6548,39.1781,36.0854,37.095,24.3008,0.0,9.9115,0.0,-32.5075,0.0,0.0,-37.6642,-31.5523,-28.7379,-42.118],"force":[16.2158,59.2978,40.2219,66.959,11.1368,5.2967,19.8201,38.5209,1.5425,0.0,0.0,0.0,64.9745,3.1003,22.5754,0.0,0.0,43.8556,27.4208,39.2922,-63.3965,0.0,0.0,-89.446,-82.0915,-90.3969,-33.2139,-14.1716,-6.5415,-16.5008,-2.6187,-3.4917,-0.4902,-7.9971,-7.9432,0.0,-10.8618,-1.6262,83.8146,36.0161,31.4953,20.112,0.0,4.6454,0.0,-39.9369,0.0,0.0,-36.585,-28.8575,-42.2002,-37.9249],"direction":[39.2687,52.0936,66.9403,67.951,65.4975,57.7626,54.496,57.2972,52.5002,0.0,0.0,0.0,32.708,35.9305,43.0922,0.0,0.0,25.7541,31.5655,42.9448,-20.9624,0.0,0.0,-44.3876,-57.0088,-65.8717,-62.5946,-60.8317,-44.94,-35.5878,-36.4023,-35.9041,-40.0258,-29.4594,-32.8547,0.0,-15.2163,-18.8244,27.1431,38.1722,44.1948,48.3968,0.0,20.7232,0.0,-22.9736,0.0,0.0,-25.7143,-28.6606,-40.6893,-46.9788],"intensity":[48.0,96.1538,70.3704,57.1429,27.5862,50.0,32.2581,65.625,27.2727,70.5882,88.5714,77.7778,91.8919,100.0,97.4359,30.0,78.0488,59.5238,69.7674,40.9091,75.5556,6.5217,55.3191,89.5833,91.8367,88.0,92.1569,48.0769,82.6923,76.9231,9.6154,40.3846,82.6923,78.8462,3.8462,36.5385,17.3077,73.0769,71.1538,65.3846,28.8462,65.3846,55.7692,1.9231,36.5385,51.9231,38.4615,38.4615,61.5385,25.0,76.9231,50.0],"confirmation":[77.2598,84.5058,84.5324,88.3892,80.0527,53.9581,80.0212,84.8615,54.1046,32.7334,3.6137,25.1813,83.8875,27.5884,78.4024,6.417,24.8665,80.1067,78.2209,81.5314,33.3634,24.496,24.2186,87.4465,89.0284,91.8579,10.5036,78.1465,53.952,77.5368,52.125,51.5146,50.6773,27.3886,51.6383,28.2555,74.4914,25.5579,84.0145,79.7625,80.0304,77.8997,5.5655,49.0965,24.7322,78.1779,47.9625,0.9071,78.6628,77.5008,79.9069,89.549],"persistence":[100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,87.5,75.0,62.5,62.5,62.5,62.5,50.0,37.5,50.0,62.5,75.0,50.0,37.5,25.0,12.5,0.0,25.0,50.0,75.0,75.0,87.5,100.0,100.0,100.0,100.0,100.0,87.5,87.5,87.5,62.5,37.5,12.5,12.5,25.0,37.5,50.0,50.0,37.5,25.0,0.0,25.0,37.5,62.5],"assessmentRisk":[42.5646,9.4626,23.1781,18.3829,29.6161,32.9372,22.1513,16.6456,30.2616,17.2897,31.502,50.9437,1.5562,40.7223,33.1505,47.38,24.8294,14.6319,21.1119,28.0558,51.3762,4.9824,32.4946,21.2753,18.0817,13.6919,42.66,33.4075,27.4105,28.1063,0.2949,1.5519,31.3696,4.8591,17.0267,2.9661,25.1263,2.6902,26.7113,31.5179,30.8967,34.1553,45.3148,22.7093,34.1803,34.2807,42.4555,41.355,31.6083,28.6477,31.5637,28.6094],"volumeParticipation":true,"latest":{"consensus":-42.8,"control":-42.1,"force":-37.9,"direction":-47.0,"confirmation":89.5,"persistence":62.5,"assessmentRisk":28.6,"intensity":50.0,"evidenceDepth":100},"analysis":{"status":"Joint downward confirmation","headline":"The gauges support the downward market view","summary":"Price structure and Market Dynamics agree. Control, force and direction support the same downward assessment.","take":"Current assessment: downward pressure has broad support.","tone":"negative","supportedView":"Price structure and Market Dynamics","direction":"downward","disagreement":false},"support":{"window":"Latest 12 months","controlState":"Seller control supports the view","controlPath":"Control support is strengthening","forceState":"Downward commitment","forcePath":"Commitment is strengthening","directionState":"Downward follow-through","persistenceState":"Developing","confirmationState":"Strong support","riskState":"Contained","intensityState":"Normal"},"cards":[{"label":"SM Consensus Gauge","value":"-42.8","detail":"Joint downward confirmation","tone":"negative"},{"label":"SM Control Gauge","value":"-42.1","detail":"Seller control supports the view","tone":"negative"},{"label":"SM Force Gauge","value":"-37.9","detail":"Downward commitment","tone":"negative"},{"label":"SM Direction Gauge","value":"-47.0","detail":"Downward follow-through","tone":"negative"},{"label":"SM Confirmation Gauge","value":"90/100","detail":"Strong support","tone":"positive"}]},"kpis":[{"label":"Price structure","value":"Aligned downward","detail":"completed-week alignment","tone":"negative"},{"label":"Momentum","value":"34.2","detail":"Negative","tone":"negative"},{"label":"Risk pressure","value":"11.8%","detail":"Elevated","tone":"caution"},{"label":"Trend quality","value":"17.4","detail":"Range-led","tone":"neutral"},{"label":"Range position","value":"24%","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 downward.","series":[{"label":"Close","values":[71600.0,70879.9988,69059.9976,71409.9976,71540.0024,66800.0,66400.0,72429.9988,73050.0,73300.0,70509.9976,72000.0,70050.0,74620.0012,73179.9988,73000.0,75300.0,80470.0012,81500.0,86020.0012,98159.9976,108000.0,109600.0,103400.0,103700.0,105200.0,111100.0,115100.0,118500.0,118400.0,118200.0,120500.0,124600.0,123900.0,119100.0,117900.0,117400.0,125500.0,125600.0,128400.0,126100.0,123700.0,128300.0,131700.0,134900.0,128900.0,128800.0,129300.0,118100.0,110200.0,98409.9976,102100.0,100700.0,104000.0,99820.0012,100800.0,99450.0,98579.9988,98800.0,97829.9988,99940.0024,99800.0,98670.0012,107000.0,110600.0,113100.0,115400.0,111600.0,112500.0,110500.0,105000.0,107700.0,108500.0,103000.0,99840.0024,96129.9988,92779.9988],"stroke":"#10243b","width":2.1},{"label":"Fast trend","values":[null,null,null,null,71179.9751,70383.616,69659.3222,70163.0815,70687.9758,71162.8893,71044.1817,71217.9669,71005.6093,71662.7714,71938.6309,72131.6071,72707.6786,74119.01,75461.0081,77380.8251,81158.8564,86039.0644,90322.8708,92700.5307,94700.4342,96609.4462,99244.0923,102126.9846,105103.8965,107521.3699,109462.939,111469.6774,113857.0087,115683.0072,116304.2786,116594.4097,116740.8807,118333.4478,119654.6391,121244.7048,122127.4857,122413.3974,123483.6888,124977.5635,126781.6429,127166.7987,127463.7444,127797.6091,126034.4074,123155.4243,118656.2558,115646.0275,112928.5679,111305.1919,109216.9754,107686.6163,106189.0497,104805.5859,103713.6612,102643.9044,102152.2858,101724.5975,101169.2164,102229.3588,103751.2936,105451.0584,107259.9569,108049.0556,108858.3182,109156.8058,108401.023,108273.5642,108314.7344,107348.419,105983.2524,104191.7517,102116.8876],"stroke":"#176fa3","width":1.7},{"label":"Slow trend","values":[null,null,null,null,null,null,null,null,null,null,null,null,71094.4928,71355.6415,71490.7791,71602.5733,71876.4567,72513.0156,73178.7181,74129.9243,75909.9297,78286.9719,80606.4555,82294.8662,83880.4317,85459.659,87358.9435,89413.8366,91568.3672,93555.8955,95381.3848,97242.0229,99268.5397,101093.0924,102426.9374,103573.0902,104597.3057,106145.6534,107586.7161,109128.4409,110385.5934,111371.8457,112625.7831,114038.688,115583.9704,116570.343,117476.2435,118352.0773,118333.4049,117730.9305,116299.7503,115247.9169,114170.2934,113416.9384,112409.7578,111549.7758,110653.4961,109759.163,108947.3731,108123.8639,107517.6519,106945.974,106332.939,106382.3509,106694.7694,107169.2309,107778.9175,108061.9606,108390.7043,108546.9484,108284.2115,108240.9366,108260.1265,107870.4875,107275.6367,106450.0339,105437.4387],"stroke":"#07865c","width":1.8},{"label":"Upper envelope","values":[null,null,null,null,null,null,null,null,null,75281.1775,75053.7622,75046.2071,74840.6167,75452.6701,75585.5184,75655.7563,76169.5652,78122.2702,79817.3397,82429.5015,88749.3161,96632.5353,102984.0248,106638.8557,109850.4002,112696.4967,116171.9712,120200.079,124324.2381,127768.732,130360.822,132857.3026,135203.7484,137132.9848,137414.5032,136681.3007,135287.4093,134948.3135,133588.7519,132325.6317,132260.5606,132722.4881,133828.7549,134518.7921,135355.1245,134576.7275,134387.7989,134568.1096,134596.984,135687.9661,139068.2022,140565.4608,141550.496,141775.7593,142514.8462,142963.3318,143370.9368,142941.3658,142193.9235,140814.0533,139383.5001,138079.2673,135789.3507,132453.8146,127953.3743,124847.9963,121672.7495,116975.4384,115669.1558,115716.8038,115769.054,116092.9994,116457.9519,116433.2671,116432.4936,116703.4701,117271.1418],"stroke":"#98a9b8","width":1.0,"dash":[6,5]},{"label":"Lower envelope","values":[null,null,null,null,null,null,null,null,null,66012.8216,66215.3274,66450.4584,66548.6129,66497.329,66658.4806,66822.9928,66786.9045,65833.2847,65140.5544,63882.498,60218.6832,56047.4641,53749.9748,53294.1442,53298.5995,54292.5029,55287.0284,55525.9207,55946.7616,57012.2678,59189.178,61542.6974,64651.2516,67650.0151,71960.4968,77183.6993,82787.5907,87629.6864,93399.248,98900.3681,101759.4394,102867.5119,103631.2451,105771.2079,108054.8755,111203.2725,113162.2011,114401.8904,114333.016,112422.0339,107062.7975,103725.5389,100350.5037,98135.2405,95468.1536,93309.6681,91107.063,88844.6339,86912.0762,85234.9464,84049.4997,82963.7326,82290.6493,83156.1854,85226.6257,86752.0037,88587.2505,91514.5616,92260.8442,92243.1962,92849.9462,93086.0008,93501.0483,93425.7331,93428.5068,92690.5301,91455.8583],"stroke":"#98a9b8","width":1.0,"dash":[6,5]}],"guides":[],"dates":["2025-02-28","2025-03-07","2025-03-14","2025-03-21","2025-03-28","2025-04-04","2025-04-11","2025-04-18","2025-04-25","2025-05-02","2025-05-09","2025-05-16","2025-05-23","2025-05-30","2025-06-06","2025-06-13","2025-06-20","2025-06-27","2025-07-04","2025-07-11","2025-07-18","2025-07-25","2025-08-01","2025-08-08","2025-08-15","2025-08-22","2025-08-29","2025-09-05","2025-09-12","2025-09-19","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"]},{"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,-95.7968,200.1783,314.9144,386.8597,622.2943,1212.0816,1742.5179,2498.8141,4031.3101,5971.0002,7550.2902,8206.9955,8651.9129,9021.5556,9679.0073,10402.8911,11122.71,11551.939,11740.6291,11938.1427,12283.9081,12358.9789,11894.046,11298.5111,10663.28,10690.2268,10597.4902,10627.426,10346.294,9816.6743,9656.8108,9692.7376,9865.6974,9410.1452,8938.0157,8506.142,7177.3961,5424.3627,3048.5743,1446.8193,63.7141,-757.3935,-1725.5274,-2386.1962,-2984.3133,-3488.3162,-3825.8874,-4124.1454,-4142.5051,-4120.8498,-4147.0645,-3455.8417,-2587.7231,-1678.6533,-763.8134,-341.4879,65.0803,223.3309,-93.9752,-126.1212,-86.0519,-492.4244,-1057.2753,-1783.7283,-2599.7957],"stroke":"#1678a7","width":2.0},{"label":"Signal","values":[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,207.9253,408.7566,675.5089,1040.1699,1638.398,2504.9184,3513.9928,4452.5933,5292.4572,6038.2769,6766.423,7493.7166,8219.5153,8886.0,9456.9258,9953.1692,10419.317,10807.2494,11024.6087,11079.3892,10996.1673,10934.9792,10867.4814,10819.4703,10724.8351,10543.2029,10365.9245,10231.2871,10158.1692,10008.5644,9794.4547,9536.7921,9064.9129,8336.8029,7279.1572,6112.6896,4902.8945,3770.8369,2671.564,1660.012,731.1469,-112.7457,-855.374,-1509.1283,-2035.8037,-2452.8129,-2791.6632,-2924.4989,-2857.1438,-2621.4457,-2249.9192,-1868.233,-1481.5703,-1140.5901,-931.2671,-770.2379,-633.4007,-605.2055,-695.6194,-913.2412,-1250.5521],"stroke":"#b87806","width":1.7},{"label":"Expansion","values":[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,414.3689,803.325,1067.0091,1458.6442,2392.9122,3466.0818,4036.2974,3754.4022,3359.4556,2983.2787,2912.5843,2909.1745,2903.1947,2665.939,2283.7033,1984.9734,1864.5911,1551.7295,869.4373,219.122,-332.8873,-244.7524,-269.9912,-192.0443,-378.5411,-726.5286,-709.1137,-538.5495,-292.4718,-598.4192,-856.4389,-1030.6501,-1887.5169,-2912.4402,-4230.5828,-4665.8703,-4839.1804,-4528.2304,-4397.0914,-4046.2082,-3715.4603,-3375.5705,-2970.5134,-2615.0171,-2106.7015,-1668.0369,-1355.4013,-531.3428,269.4206,942.7924,1486.1058,1526.745,1546.6506,1363.9209,837.2919,644.1167,547.3488,112.7811,-361.6559,-870.4871,-1349.2436],"stroke":"#07865c","width":1.0,"fill":"rgba(7,134,92,.12)"}],"guides":[{"label":"Neutral","values":[0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0],"stroke":"#8fa0af","width":1.0,"dash":[6,5]}],"dates":["2025-02-28","2025-03-07","2025-03-14","2025-03-21","2025-03-28","2025-04-04","2025-04-11","2025-04-18","2025-04-25","2025-05-02","2025-05-09","2025-05-16","2025-05-23","2025-05-30","2025-06-06","2025-06-13","2025-06-20","2025-06-27","2025-07-04","2025-07-11","2025-07-18","2025-07-25","2025-08-01","2025-08-08","2025-08-15","2025-08-22","2025-08-29","2025-09-05","2025-09-12","2025-09-19","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"]},{"key":"relative","eyebrow":"Relative leadership","title":"Strength versus the research benchmark","description":"Relative performance is separated from absolute price direction to reveal leadership and lagging pressure.","reason":"Selected because benchmark-relative leadership is strengthening, fading or diverging from price.","series":[{"label":"Relative 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,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,-24.9884,-23.9485,-25.355,-25.1211,-26.5455,-23.5289,-25.6426,-29.5114,-29.3225,-26.7929,-27.6377,-29.6614,-21.3092,-18.7389,-17.9541,-12.6126,-16.8909,-12.2222,-11.2895,-17.5856,-13.9539,-14.7531,-20.6535,-20.5525,-23.2693,-25.9261],"stroke":"#176fa3","width":2.0,"fill":"rgba(23,111,163,.08)"}],"guides":[{"label":"Neutral","values":[0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0],"stroke":"#8fa0af","width":1.0,"dash":[6,5]}],"dates":["2025-02-28","2025-03-07","2025-03-14","2025-03-21","2025-03-28","2025-04-04","2025-04-11","2025-04-18","2025-04-25","2025-05-02","2025-05-09","2025-05-16","2025-05-23","2025-05-30","2025-06-06","2025-06-13","2025-06-20","2025-06-27","2025-07-04","2025-07-11","2025-07-18","2025-07-25","2025-08-01","2025-08-08","2025-08-15","2025-08-22","2025-08-29","2025-09-05","2025-09-12","2025-09-19","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"]},{"key":"drawdown","eyebrow":"Path 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,-1.0056,-3.5475,-0.2654,-0.0838,-6.7039,-7.2626,0.0,0.0,0.0,-3.8063,-1.7735,-4.4338,0.0,-1.9298,-2.171,0.0,0.0,0.0,0.0,0.0,0.0,0.0,-5.6569,-5.3832,-4.0146,0.0,0.0,0.0,-0.0844,-0.2532,0.0,0.0,-0.5618,-4.4141,-5.3772,-5.7785,0.0,0.0,0.0,-1.7913,-3.6604,-0.0779,0.0,0.0,-4.4477,-4.5219,-4.1512,-12.4537,-18.3099,-27.0497,-24.3143,-25.3521,-22.9059,-26.0044,-25.278,-26.2787,-26.9236,-26.7606,-27.4796,-25.9155,-26.0193,-26.8569,-20.682,-18.0133,-16.1601,-14.4552,-17.2721,-16.6049,-18.0875,-22.1646,-20.1631,-19.5701,-23.6471,-25.9896,-28.7398,-31.2231],"stroke":"#c13f3f","width":1.9,"fill":"rgba(193,63,63,.10)"},{"label":"Recovery","values":[null,null,null,null,null,null,null,9.0813,10.0151,10.3916,6.1898,8.4337,5.497,12.3795,10.2108,9.9398,13.4036,21.1898,22.741,29.5482,47.8313,62.6506,65.0602,55.7229,56.1747,58.4337,67.3193,73.3434,78.4639,78.3133,78.012,81.4759,77.8729,76.8737,70.0214,68.3084,67.5946,79.1577,72.0548,75.8904,72.7397,64.2762,59.4383,61.5951,56.824,31.3162,24.5648,25.0484,14.2166,6.2681,0.0,3.7496,2.327,5.6803,1.4328,2.4286,1.0568,0.1727,0.3963,0.0,2.1568,2.0137,0.8586,9.3734,13.0533,15.6087,17.9597,14.0754,14.9954,12.951,7.329,10.0889,10.9067,5.2847,2.0546,0.0,0.0],"stroke":"#07865c","width":1.7}],"guides":[{"label":"Prior high","values":[0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0],"stroke":"#8fa0af","width":1.0,"dash":[6,5]}],"dates":["2025-02-28","2025-03-07","2025-03-14","2025-03-21","2025-03-28","2025-04-04","2025-04-11","2025-04-18","2025-04-25","2025-05-02","2025-05-09","2025-05-16","2025-05-23","2025-05-30","2025-06-06","2025-06-13","2025-06-20","2025-06-27","2025-07-04","2025-07-11","2025-07-18","2025-07-25","2025-08-01","2025-08-08","2025-08-15","2025-08-22","2025-08-29","2025-09-05","2025-09-12","2025-09-19","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"]},{"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,5.1751,5.2006,4.9878,4.7272,4.5691,4.4696,4.8042,5.0372,5.0343,5.0431,5.917,5.7677,5.7683,6.2419,6.1407,6.0087,5.91,6.0772,5.9919,5.6904,5.7807,6.028,6.5813,6.5631,6.4352,7.4835,7.1813,7.3734,7.3607,7.0352,6.9064,6.7322,7.2461,7.4547,7.4976,8.5053,9.1186,10.9682,10.3344,10.4602,10.2496,10.5315,10.2546,10.1944,10.759,10.4093,10.1625,9.3924,8.7481,8.9185,8.4818,8.1621,8.0747,7.986,8.6922,9.0671,9.4832,10.0767,9.6728,9.8439,10.149,10.6667,11.461,11.7965],"stroke":"#c13f3f","width":1.9},{"label":"Envelope width","values":[null,null,null,null,null,null,null,null,null,13.1192,12.5129,12.1498,11.7293,12.6176,12.5517,12.3987,13.1266,17.0733,20.2497,25.3527,38.3044,53.1636,62.825,66.7088,69.3253,69.9495,71.0198,73.608,75.8608,76.5841,75.0954,73.3689,70.6037,67.8601,62.5232,55.6403,48.1484,42.5187,35.4111,28.9113,26.0671,25.3449,25.4338,23.9274,22.4315,19.0198,17.1485,16.1997,16.2809,18.7545,26.0068,30.1607,34.0635,36.3806,39.5379,42.0308,44.5789,46.6782,48.2588,49.1744,49.5307,49.8686,49.0634,45.7285,40.0851,36.0076,31.471,24.4241,22.5156,22.5751,21.9722,21.9974,21.868,21.9267,21.9231,22.9357,24.7359],"stroke":"#b87806","width":1.7}],"guides":[],"dates":["2025-02-28","2025-03-07","2025-03-14","2025-03-21","2025-03-28","2025-04-04","2025-04-11","2025-04-18","2025-04-25","2025-05-02","2025-05-09","2025-05-16","2025-05-23","2025-05-30","2025-06-06","2025-06-13","2025-06-20","2025-06-27","2025-07-04","2025-07-11","2025-07-18","2025-07-25","2025-08-01","2025-08-08","2025-08-15","2025-08-22","2025-08-29","2025-09-05","2025-09-12","2025-09-19","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"]},{"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,192.7127,23.4569,473.8578,37.3514,38.8303,55.1873,17.3753,8.4606,12.5805,20.6778,303.8853,120.4351,73.0914,518.4215,91.3684,19.4134,87.6006,23.7778,179.7758,334.3666,31.2439,150.4935,36.8109,37.9259,24.4406,17.2408,27.7541,60.6755,119.3946,86.8346,85.0377,25.2655,29.041,52.216,13.779,46.6152,33.9789,55.0698,118.6905,305.5453,484.8661,416.0305,144.9941,223.934,128.7608,125.5455,168.3537,28.1951,57.4474,40.8399,23.7852,77.2675,85.71,10.7851,10.5796,43.061,135.6781,49.4538,21.268,46.3807,36.568,11.7919,12.6767,17.1916,23.5772,29.4109,18.7416,26.2473,123.9114,52.8972],"stroke":"#1678a7","width":1.8},{"label":"Cumulative balance","values":[null,null,null,null,null,null,null,90.1358,92.9282,135.0,132.1985,134.9575,131.1774,132.2964,131.785,131.0664,132.1917,135.0,135.0,135.0,135.0,135.0,135.0,132.8018,133.396,135.0,135.0,135.0,135.0,134.3639,133.7068,134.1286,134.4221,133.9462,132.8764,130.6469,128.9622,130.5168,130.9652,131.4747,130.7514,130.5692,131.1932,131.6314,132.3508,130.8941,127.6744,134.2254,127.9493,125.6407,121.7085,124.096,121.6319,125.1963,124.6061,125.7782,124.9627,124.5007,126.0437,124.2783,124.4977,124.2823,123.3999,126.3506,127.4352,127.891,128.8321,128.1983,128.3666,128.1992,128.0043,128.2463,128.516,128.3762,128.1857,127.3045,126.9403],"stroke":"#07865c","width":1.7}],"guides":[{"label":"Typical activity","values":[100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0],"stroke":"#8fa0af","width":1.0,"dash":[6,5]}],"dates":["2025-02-28","2025-03-07","2025-03-14","2025-03-21","2025-03-28","2025-04-04","2025-04-11","2025-04-18","2025-04-25","2025-05-02","2025-05-09","2025-05-16","2025-05-23","2025-05-30","2025-06-06","2025-06-13","2025-06-20","2025-06-27","2025-07-04","2025-07-11","2025-07-18","2025-07-25","2025-08-01","2025-08-08","2025-08-15","2025-08-22","2025-08-29","2025-09-05","2025-09-12","2025-09-19","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"]}]},"canonical_url":"https://sharemaestro.com/terminal/5b7a550e-c276-42b4-add5-07b0362363c7/technical-pack/","technicals_url":"https://sharemaestro.com/terminal/5b7a550e-c276-42b4-add5-07b0362363c7/technicals/","canonical_technicals_url":"https://sharemaestro.com/terminal/5b7a550e-c276-42b4-add5-07b0362363c7/technicals/","distributions":{"pdf":"https://sharemaestro.com/terminal/5b7a550e-c276-42b4-add5-07b0362363c7/technical-pack/download.pdf","json":"https://sharemaestro.com/terminal/5b7a550e-c276-42b4-add5-07b0362363c7/technical-pack/data.json"},"source_fingerprint":"f7d96f2b7155ceafcf02f5794663ad7b0e72f2279c356ee4304543dcdb625424","content_hash":"40a27b6573b71e59b4fb59e9918caee26281e5cf252b21f93bb243abe01c9b24","citation":"Sharemaestro, ELAD Technical Research Pack, completed week 2026-08-14, https://sharemaestro.com/terminal/5b7a550e-c276-42b4-add5-07b0362363c7/technical-pack/","data_notes":{"time_series":"Parallel time-series arrays align by index with their dates array.","events":"Sparse chart markers are published as compact dated event records rather than null-filled arrays.","missing_values":"A remaining null in an aligned series means that observation is genuinely unavailable; zero remains a valid value."},"boundary":"Completed market observations and published proprietary outputs only. Market Dynamics construction and private inputs are not disclosed. Historical research is not a forecast or instruction to trade."}