{"schema_version":"1.0","name":"XTAX Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-14","ticker":{"uuid":"5d096406-a3f6-4d96-bace-aa57f01efe4e","symbol":"XTAX","name":"Xtrackers Global Equity Top Active UCITS ETF","exchange":"GER","country":"DE","asset_type":"etf","currency":"EUR","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, Completed returns and cumulative progression, Range expansion and closing direction, Activity pressure and cumulative balance, Acceleration, deceleration and rollover, Range position and boundary pressure."},{"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":20,"displayedObservations":20,"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":["2026-04-03","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":[0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0],"opens":[29.040701,26.344999,27.129999,27.92,28.424999,28.825001,29.540001,29.42,30.540001,30.705,30.700001,31.915001,31.780001,31.975,31.875,31.559999,30.995001,31.305,31.299999,31.584999],"highs":[29.744499,27.405001,27.985001,28.41,28.525,29.775,29.955,30.205,30.825001,30.715,31.075001,31.945,31.780001,32.23,32.014999,32.040001,31.665001,31.455,31.855,32.02],"lows":[25.955,26.155001,27.129999,27.885,28.02,28.615,29.23,29.370001,30.4,30.645,30.700001,31.915001,31.459999,31.975,31.875,30.889999,30.975,30.165001,31.075001,31.584999],"closes":[26.23,27.395,27.955,28.25,28.434999,29.254999,29.74,30.205,30.82,30.645,31.075001,31.945,31.65,32.16,31.969999,31.129999,31.235001,30.969999,31.66,31.685],"hoverRows":[[{"label":"Open","value":"29.0","className":"is-ohlc","compact":true},{"label":"High","value":"29.7","className":"is-ohlc","compact":true},{"label":"Low","value":"26.0","className":"is-ohlc","compact":true},{"label":"Close","value":"26.2","className":"is-ohlc","compact":true},{"label":"Market 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Dynamics","value":"Unavailable","note":"Insufficient completed history","className":"is-muted","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"31.6","className":"is-ohlc","compact":true},{"label":"High","value":"32.0","className":"is-ohlc","compact":true},{"label":"Low","value":"30.9","className":"is-ohlc","compact":true},{"label":"Close","value":"31.1","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}],[{"label":"Open","value":"31.0","className":"is-ohlc","compact":true},{"label":"High","value":"31.7","className":"is-ohlc","compact":true},{"label":"Low","value":"31.0","className":"is-ohlc","compact":true},{"label":"Close","value":"31.2","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}],[{"label":"Open","value":"31.3","className":"is-ohlc","compact":true},{"label":"High","value":"31.5","className":"is-ohlc","compact":true},{"label":"Low","value":"30.2","className":"is-ohlc","compact":true},{"label":"Close","value":"31.0","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}],[{"label":"Open","value":"31.3","className":"is-ohlc","compact":true},{"label":"High","value":"31.9","className":"is-ohlc","compact":true},{"label":"Low","value":"31.1","className":"is-ohlc","compact":true},{"label":"Close","value":"31.7","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}],[{"label":"Open","value":"31.6","className":"is-ohlc","compact":true},{"label":"High","value":"32.0","className":"is-ohlc","compact":true},{"label":"Low","value":"31.6","className":"is-ohlc","compact":true},{"label":"Close","value":"31.7","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":[25.8742,32.5158],"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 positive 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 positive 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":20,"summary":"More completed weekly history is needed for a dependable ticker-level record."},"events":{"positioning_recoveries":[],"reversal_warnings":[{"date":"2026-05-22","price":30.205}],"reversal_dangers":[{"date":"2026-05-29","price":30.82}]}},"smTape":{"available":true,"dates":["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":[26.23,27.395,27.955,28.25,28.435,29.255,29.74,30.205,30.82,30.645,31.075,31.945,31.65,32.16,31.97,31.13,31.235,30.97,31.66,31.685],"consensus":[-85.4862,98.3998,92.9822,39.0476,35.753,29.4244,32.6303,45.3695,47.4762,12.7693,43.6563,51.29,25.5804,42.124,29.4464,-18.8371,0.0,0.0,24.9727,9.7401],"supportDates":["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":[null,null,null,null,null,27.785,32.9762,48.2839,51.4057,1.7505,50.6774,58.3006,23.9059,42.8745,29.3155,-11.0377,0.0,0.0,35.4778,6.0812],"force":[-85.4862,98.3998,92.9822,39.0476,15.3807,15.2574,15.5803,36.4586,30.8048,10.111,25.6903,31.0433,0.8787,22.1083,6.5261,-63.2391,0.0,0.0,26.7248,1.0589],"direction":[null,null,null,null,50.3047,41.4173,44.4136,48.4037,54.8934,45.7064,48.465,57.7398,45.1381,55.5633,45.9677,-3.9649,0.0,0.0,11.7153,21.6355],"intensity":[null,null,null,null,25.0,80.0,33.3333,28.5714,75.0,22.2222,30.0,81.8182,33.3333,46.1538,14.2857,73.3333,25.0,64.7059,66.6667,42.1053],"confirmation":[50.0223,54.1546,52.421,35.1619,55.843,77.009,77.9168,82.2023,82.6244,6.1406,81.3155,83.6889,52.7918,80.8583,54.0597,53.6791,24.8545,26.2642,75.8846,25.7361],"persistence":[null,null,33.3333,50.0,60.0,66.6667,71.4286,75.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,75.0,62.5,50.0,50.0,50.0],"assessmentRisk":[null,null,null,null,32.1226,35.2849,33.683,27.3149,26.2619,43.5722,28.1322,24.351,35.6816,28.9012,34.5911,37.4917,38.878,45.286,40.8995,36.3517],"volumeParticipation":true,"latest":{"consensus":9.7,"control":6.1,"force":1.1,"direction":21.6,"confirmation":25.7,"persistence":50.0,"assessmentRisk":36.4,"intensity":42.1,"evidenceDepth":77},"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":"Control support is limited","controlPath":"Broadly stable","forceState":"Commitment is limited","forcePath":"Commitment is easing","directionState":"Upward follow-through","persistenceState":"Developing","confirmationState":"Limited support","riskState":"Contained","intensityState":"Normal"},"cards":[{"label":"SM Consensus Gauge","value":"+9.7","detail":"Price structure has the available support","tone":"positive"},{"label":"SM Control Gauge","value":"+6.1","detail":"Control support is limited","tone":"positive"},{"label":"SM Force Gauge","value":"+1.1","detail":"Commitment is limited","tone":"positive"},{"label":"SM Direction Gauge","value":"+21.6","detail":"Upward follow-through","tone":"positive"},{"label":"SM Confirmation Gauge","value":"26/100","detail":"Limited support","tone":"caution"}]},"kpis":[{"label":"Price structure","value":"Aligned upward","detail":"completed-week alignment","tone":"positive"},{"label":"Momentum","value":"85.5","detail":"Stretched positive","tone":"positive"},{"label":"Risk pressure","value":"4.7%","detail":"Contained","tone":"neutral"},{"label":"Trend quality","value":"-","detail":"Developing","tone":"neutral"},{"label":"Range position","value":"91%","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":[26.23,27.395,27.955,28.25,28.435,29.255,29.74,30.205,30.82,30.645,31.075,31.945,31.65,32.16,31.97,31.13,31.235,30.97,31.66,31.685],"stroke":"#10243b","width":2.1},{"label":"Fast trend","values":[null,null,null,null,27.2574,27.6206,28.0059,28.4058,28.8447,29.172,29.518,29.9593,30.2667,30.6109,30.858,30.9075,30.967,30.9676,31.0935,31.201],"stroke":"#176fa3","width":1.7},{"label":"Slow trend","values":[null,null,null,null,null,null,null,null,null,null,null,null,28.5949,28.859,29.0895,29.2406,29.3883,29.5055,29.6651,29.8147],"stroke":"#07865c","width":1.8},{"label":"Upper envelope","values":[null,null,null,null,null,null,null,null,null,31.7349,32.0774,32.5943,32.8798,33.2221,33.4379,33.4589,33.4851,33.4694,33.5388,33.5974],"stroke":"#98a9b8","width":1.0,"dash":[6,5]},{"label":"Lower 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Market Dynamics construction and private inputs are not disclosed. Historical research is not a forecast or instruction to trade."}