{"schema_version":"1.0","name":"XLUI Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"625527fb-4521-4433-ac63-cfcbc47d1f47","symbol":"XLUI","name":"STATE STREET UTILITIES SELECT SECTOR SPDR PREMIUM INCOME ETF","exchange":"NYSEARCA","country":"US","asset_type":"etf","currency":"USD","sector":null,"industry":null},"summary":"Market Dynamics weakened this week and remains below zero. Underlying support has contracted across the recent completed path. Price structure remains rotational.","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, Range position and boundary pressure, Activity pressure and cumulative balance, Acceleration, deceleration and rollover, Range pressure and compression, Directional strength and control."},{"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":56,"displayedObservations":56,"assetType":"ETF","state":"Rotational","stateTone":"caution","summary":"Market Dynamics weakened this week and remains below zero. Underlying support has contracted across the recent completed path. Price structure remains rotational.","evidenceAlignment":{"status":"Negative pressure; price rotational","headline":"Market Dynamics is negative while price has no clear direction","summary":"Market Dynamics weakened this week and remains below zero. Underlying support has contracted across the recent completed path. Price structure remains rotational.","take":"The underlying condition is weak, but a negative price response is still 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pressure; price rotational","tone":"caution","headline":"Market Dynamics is negative while price remains rotational","use":"Treat the pressure as context until price establishes a clear response.","confirm":"The underlying condition is weak, but a negative price response is still required.","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","sample":0},"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 has no clear direction","detail":"Price remains rotational while the Market Dynamics condition develops."}},"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":"Divergence control","title":"Do not chase price while the underlying evidence lags","tone":"caution","approach":"Use the gap to review position size, protect gains and wait for either Market Dynamics to catch up or price to correct. The disagreement is a warning condition, not an automatic exit.","finding":"The current relationship is visible, but this ticker does not yet have a completed comparable outcome.","watch":"Reassess the reading when either price structure or the Market Dynamics state changes materially."}]},"summary":"This record compares the ticker's completed price path with its published Market Dynamics 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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,73.2052,100.0,97.1799,94.2769,76.3538,79.5149,56.5994,63.4912,53.8205,45.7616,74.653,33.0252,20.8018,16.3073,29.3577,38.6789,27.1839,46.6246,29.6763,49.1171,53.5804,93.7409,100.0,97.5789,86.1693,91.4811,53.8902,77.1456,94.7884,91.1322,81.4113,81.5806,79.4114,52.8653,43.0915,62.899,51.9368,51.8917,56.5298,62.189,85.7036,77.9213,73.9394,72.1083,93.0639,55.0317,28.6507,40.4712,10.6872],"stroke":"#10243b","width":2.0},{"label":"From 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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,243.5242,272.8003,187.3326,160.7809,167.528,232.0991,160.2252,96.0935,122.6623,141.817,164.3147,190.4764,131.2807,94.876,76.0586,164.6001,144.4703,75.8223,68.3943,124.4069,146.806,146.7596,101.1701,142.0453,118.829,149.3386,123.8618,132.2696,156.9751,103.8286,148.4625,163.198,274.1371,181.7526,222.2914,131.4881,154.1147,180.4426,110.1122,88.6438,132.3941,137.5824,139.5747,124.3346,127.1269,175.3423,163.6794,138.937,121.2846],"stroke":"#1678a7","width":1.8},{"label":"Cumulative 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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,0.2032,0.1937,0.1945,0.1783,0.1513,0.1723,0.1236,0.0655,0.0125,-0.0094,-0.0124,-0.032,-0.0175,-0.0316,-0.0129,0.0087,0.0864,0.1638,0.2468,0.2972,0.3448,0.3084,0.3208,0.3606,0.4163,0.4328,0.4412,0.4377,0.3689,0.2882,0.2674,0.2227,0.1851,0.1642,0.159,0.2073,0.2248,0.2336,0.2347,0.2756,0.2325,0.1607,0.1296,0.0567],"stroke":"#1678a7","width":2.0},{"label":"Signal","values":[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,0.1868,0.1839,0.1718,0.1506,0.1229,0.0965,0.0747,0.0534,0.0392,0.025,0.0175,0.0157,0.0299,0.0566,0.0947,0.1352,0.1771,0.2034,0.2268,0.2536,0.2861,0.3155,0.3406,0.36,0.3618,0.3471,0.3311,0.3095,0.2846,0.2605,0.2402,0.2336,0.2319,0.2322,0.2327,0.2413,0.2395,0.2238,0.2049,0.1753],"stroke":"#b87806","width":1.7},{"label":"Expansion","values":[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,-0.0354,-0.0116,-0.0482,-0.085,-0.1105,-0.1059,-0.0871,-0.0853,-0.0567,-0.0566,-0.0303,-0.007,0.0566,0.1071,0.1521,0.162,0.1677,0.105,0.0939,0.107,0.1302,0.1173,0.1006,0.0777,0.0071,-0.0589,-0.0638,-0.0867,-0.0995,-0.0963,-0.0812,-0.0263,-0.007,0.0014,0.002,0.0344,-0.0071,-0.0631,-0.0753,-0.1186],"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],"stroke":"#8fa0af","width":1.0,"dash":[6,5]}],"dates":["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","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,1.3316,1.4354,1.5014,1.5896,1.6247,1.8111,1.8165,1.8797,1.8462,1.7843,1.8728,1.8942,1.9109,1.914,1.9443,2.0195,1.9518,1.913,1.9749,1.9501,2.2377,2.3159,2.2994,2.3409,2.3489,2.3832,2.3901,2.5444,2.6145,2.6223,2.6333,2.6558,2.6462,2.6023,2.6532,2.6948,2.5987,2.5295,2.5552,2.7588,2.8477,2.8165,2.933],"stroke":"#c13f3f","width":1.9},{"label":"Envelope width","values":[null,null,null,null,null,null,null,null,null,4.4438,5.1059,5.9277,6.5466,6.3738,6.3123,6.1306,5.9506,6.1246,6.0861,6.2667,6.52,6.5941,6.5552,6.7038,6.4989,6.1419,6.1305,6.0475,6.8544,7.8486,9.2089,9.996,10.8748,10.9182,11.3404,12.1604,13.2304,13.8562,14.0033,13.6458,12.6511,11.9435,11.3229,10.238,9.6019,8.1991,7.2516,6.5884,6.5972,6.6541,6.6577,7.1776,7.186,7.086,7.1448,7.7155],"stroke":"#b87806","width":1.7}],"guides":[],"dates":["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","2026-08-21"]},{"key":"directional","eyebrow":"Trend 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