{"schema_version":"1.0","name":"532A Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"5e960850-9588-4e17-93c1-04d9cbd24b1a","symbol":"532A","name":"NZAM ETF TOPIX High Dividend 40","exchange":"JPX","country":"JP","asset_type":"etf","currency":"JPY","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 pressure and compression."},{"name":"SM Tape Intelligence","description":"Resolved consensus with Control, Force, Direction and Confirmation gauges against completed price."},{"name":"Research boundary","description":"Dated scope, interpretation limits, methodology version and source references."}],"research":{"available":true,"asOf":"2026-08-21","observations":23,"displayedObservations":23,"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":["2026-03-20","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"],"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],"opens":[2000.0,2270.0,2096.0,2130.0,2098.0,2087.0,2095.0,2053.0,2047.0,2132.0,2134.0,2106.0,2051.0,2093.0,2093.0,2114.0,2167.0,2169.0,2158.0,2273.0,2284.0,2280.0,2299.0],"highs":[2061.659912,2610.0,2533.0,2217.0,2108.0,2099.0,2095.0,2067.0,2157.0,2153.0,2135.0,2106.0,2084.0,2104.0,2093.0,2123.0,2167.0,2169.0,2228.0,2328.0,2284.0,2312.0,2299.0],"lows":[1999.800049,2000.0,2015.0,2080.0,2062.0,1994.0,1995.0,2026.0,2046.0,2105.0,2074.0,2100.0,2051.0,2086.0,2049.0,2114.0,2123.0,2158.0,2158.0,2234.0,2158.0,2243.0,2199.0],"closes":[1999.800049,2096.0,2080.0,2097.0,2068.0,2018.0,2025.0,2026.0,2130.0,2113.0,2101.0,2101.0,2084.0,2092.0,2060.0,2117.0,2125.0,2158.0,2228.0,2259.0,2250.0,2277.0,2277.0],"hoverRows":[[{"label":"Open","value":"2,000","className":"is-ohlc","compact":true},{"label":"High","value":"2,062","className":"is-ohlc","compact":true},{"label":"Low","value":"2,000","className":"is-ohlc","compact":true},{"label":"Close","value":"2,000","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}]],"pressureRange":[-2.3,2.3],"priceRange":[1983.168052,2293.631997],"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":"Across the displayed history, price has progressed from the lower accumulation area, through the middle range and into the upper positioning zone. This describes price location only; it does not establish active distribution or a reversal.","tone":"neutral"},"chartSummary":"Price is in the distribution zone. The Market Dynamics bars show whether underlying support is keeping pace with that elevated price.","summary":"Across the displayed history, price has progressed from the lower accumulation area, through the middle range and into the upper positioning zone. This describes price location only; it does not establish active distribution or a reversal.","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":"Upper positioning zone","detail":"Price is in the area labelled as the distribution zone on the chart. With limited Market Dynamics history, the label describes location and extension only.","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":"Unavailable","detail":"Too little usable Market Dynamics history is available for a directional confirmation read.","tone":"neutral"}],"relationshipEvidence":{"available":false,"observations":23,"summary":"More completed weekly history is needed for a dependable ticker-level record."},"events":{"positioning_recoveries":[],"reversal_warnings":[{"date":"2026-03-27","price":2096.0},{"date":"2026-07-17","price":2158.0}],"reversal_dangers":[{"date":"2026-04-03","price":2080.0},{"date":"2026-07-24","price":2228.0}]}},"smTape":{"available":true,"dates":["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":[1999.8,2096.0,2080.0,2097.0,2068.0,2018.0,2025.0,2026.0,2130.0,2113.0,2101.0,2101.0,2084.0,2092.0,2060.0,2117.0,2125.0,2158.0,2228.0,2259.0,2250.0,2277.0,2277.0],"consensus":[-100.0,-68.5246,-74.9035,-75.1825,14.818,-24.1976,-13.537,-19.5998,52.4244,11.177,10.5114,8.5923,8.3212,0.0,-21.8826,20.3861,0.0,17.206,69.3512,40.4422,26.1201,39.2709,28.346],"supportDates":["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,-24.5673,-11.6512,-21.3043,46.781,2.2268,2.6366,4.5788,21.579,0.0,-23.3539,19.7999,0.0,7.1492,69.8212,26.3595,20.8311,33.6566,27.3808],"force":[-100.0,-68.5246,-74.9035,-75.1825,11.6797,-27.6254,-14.9987,-20.1966,77.1238,7.4447,6.4266,1.853,6.3064,0.0,-25.7836,16.0381,0.0,5.2343,88.9219,40.3216,1.7266,27.7495,8.4001],"direction":[null,null,null,null,33.7449,-21.3265,-14.6481,-17.2256,41.2316,39.7969,31.6097,31.1059,5.3916,0.0,-17.4147,24.1619,0.0,37.2508,54.8351,56.6228,52.0551,53.9168,43.6961],"intensity":[null,null,null,null,50.0,20.0,16.6667,28.5714,62.5,33.3333,30.0,18.1818,41.6667,38.4615,42.8571,60.0,43.75,35.2941,72.2222,78.9474,70.0,76.1905,40.9091],"confirmation":[54.6667,44.5945,46.6358,46.7251,7.2679,75.8421,72.4051,74.2642,85.6146,27.9433,27.0051,26.6707,26.2162,0.9093,75.0989,74.4,4.1317,27.961,90.7817,81.1524,53.292,80.3011,55.0],"persistence":[null,null,100.0,100.0,60.0,66.6667,71.4286,75.0,50.0,25.0,0.0,25.0,25.0,37.5,37.5,62.5,50.0,50.0,50.0,50.0,50.0,62.5,87.5],"assessmentRisk":[null,null,null,null,36.8703,33.3826,34.5695,36.5857,15.244,42.156,40.6003,41.9521,42.7686,23.0242,29.982,9.3854,37.1665,38.3406,15.3106,29.7232,36.7929,30.3342,32.7327],"volumeParticipation":true,"latest":{"consensus":28.3,"control":27.4,"force":8.4,"direction":43.7,"confirmation":55.0,"persistence":87.5,"assessmentRisk":32.7,"intensity":40.9,"evidenceDepth":88},"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":"Commitment is limited","forcePath":"Commitment is easing","directionState":"Upward follow-through","persistenceState":"Established","confirmationState":"Qualified support","riskState":"Contained","intensityState":"Normal"},"cards":[{"label":"SM Consensus Gauge","value":"+28.3","detail":"Price structure has the available support","tone":"positive"},{"label":"SM Control Gauge","value":"+27.4","detail":"Buyer control supports the view","tone":"positive"},{"label":"SM Force Gauge","value":"+8.4","detail":"Commitment is limited","tone":"positive"},{"label":"SM Direction Gauge","value":"+43.7","detail":"Upward follow-through","tone":"positive"},{"label":"SM Confirmation Gauge","value":"55/100","detail":"Qualified support","tone":"neutral"}]},"kpis":[{"label":"Price structure","value":"Aligned upward","detail":"completed-week alignment","tone":"positive"},{"label":"Momentum","value":"87.6","detail":"Stretched positive","tone":"positive"},{"label":"Risk pressure","value":"3.7%","detail":"Normal","tone":"neutral"},{"label":"Trend quality","value":"-","detail":"Developing","tone":"neutral"},{"label":"Range position","value":"46%","detail":"location inside observed range","tone":"neutral"},{"label":"Adaptive set","value":"6 views","detail":"selected for the current tape","tone":"neutral"}],"charts":[{"key":"price","eyebrow":"Price architecture","title":"Trend, acceptance and volatility envelope","description":"Price is shown against fast and slow trend references with its current volatility envelope.","reason":"Selected as the anchor because price and its trend references are aligned 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Market Dynamics construction and private inputs are not disclosed. Historical research is not a forecast or instruction to trade."}