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elevated relative to Market Dynamics","kind":"structuralDivergence","expectedDirection":"lower","episodes":5,"completedEpisodes":5,"activeEpisodes":0,"medianExpectedMove":13.7,"averageExpectedMove":20.0,"averageWeeksToLargestMove":8.8,"horizons":[{"weeks":4,"sample":5,"expectedCount":3,"expectedPercent":60.0,"averageReturn":-3.4,"medianReturn":-6.4,"confidenceLow":23.1,"confidenceHigh":88.2,"confidence":"Mixed historical record"},{"weeks":12,"sample":5,"expectedCount":4,"expectedPercent":80.0,"averageReturn":-15.1,"medianReturn":-12.3,"confidenceLow":37.6,"confidenceHigh":96.4,"confidence":"Mixed historical record"},{"weeks":26,"sample":5,"expectedCount":4,"expectedPercent":80.0,"averageReturn":-40.7,"medianReturn":-53.9,"confidenceLow":37.6,"confidenceHigh":96.4,"confidence":"Mixed historical record"}],"path":[{"week":0,"sample":0},{"week":1,"averageReturn":-2.2,"sample":5},{"week":2,"averageReturn":-2.0,"sample":5},{"week":3,"averageReturn":-4.7,"sample":5},{"week":4,"averageReturn":-3.4,"sample":5},{"week":5,"averageReturn":-7.9,"sample":5},{"week":6,"averageReturn":-8.5,"sample":5},{"week":7,"averageReturn":-12.9,"sample":5},{"week":8,"averageReturn":-8.4,"sample":5},{"week":9,"averageReturn":-12.2,"sample":5},{"week":10,"averageReturn":-12.5,"sample":5},{"week":11,"averageReturn":-14.4,"sample":5},{"week":12,"averageReturn":-15.1,"sample":5},{"week":13,"averageReturn":-19.7,"sample":5},{"week":14,"averageReturn":-14.9,"sample":5},{"week":15,"averageReturn":-20.9,"sample":5},{"week":16,"averageReturn":-18.4,"sample":5},{"week":17,"averageReturn":-22.8,"sample":5},{"week":18,"averageReturn":-26.2,"sample":5},{"week":19,"averageReturn":-28.5,"sample":5},{"week":20,"averageReturn":-31.1,"sample":5},{"week":21,"averageReturn":-35.5,"sample":5},{"week":22,"averageReturn":-35.9,"sample":5},{"week":23,"averageReturn":-38.2,"sample":5},{"week":24,"averageReturn":-38.2,"sample":5},{"week":25,"averageReturn":-37.9,"sample":5},{"week":26,"averageReturn":-40.7,"sample":5}]},"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":"strengthening","zone":"middle","zoneContext":"Price is between the accumulation and distribution zones. The Market Dynamics bars describe whether the current move is gaining or losing underlying support.","historical":{"label":"Broad directional cases","weeks":12,"direction":"lower","percent":35.3,"averageReturn":37.0,"sample":17},"nowContext":{"label":"Slightly stronger this week","detail":"Market Dynamics improved this week but 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, 35.3% of comparable cases moved lower after 12 weeks, with an average move of 37.0% across 17 cases.","watch":"Reassess the reading when either price structure or the Market Dynamics state changes materially."},{"eyebrow":"Zone positioning","title":"Use distribution to protect capital before considering the short case","tone":"negative","finding":"After distribution, 83.3% of completed 12-week outcomes were lower across 6 cases. Distinct visits lasted 2.5 weeks on average before leaving the zone.","approach":"Review long exposure and define the evidence that would confirm a rollover. Short exposure should begin only after price weakens and the loss limit is known.","watch":"A sustained repair in price and Market Dynamics invalidates the downside setup."},{"eyebrow":"Disagreement playbook","title":"Use unsupported price strength to tighten discipline","tone":"caution","finding":"Comparable disagreements produced an average pullback of 23.5% across 17 completed cases, with the largest move arriving after 6.6 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":[{"date":"2026-07-03","price":100.77}],"distribution_rollovers":[{"date":"2024-12-20","price":364.2},{"date":"2025-01-24","price":353.67},{"date":"2025-06-20","price":369.7},{"date":"2025-08-01","price":366.63},{"date":"2025-08-15","price":366.32}],"price_pressure_gaps":[{"date":"2025-01-17","price":396.5},{"date":"2025-05-02","price":394.37},{"date":"2025-06-13","price":382.87},{"date":"2025-06-27","price":383.88},{"date":"2025-08-08","price":395.13}]}},"smTape":{"available":true,"dates":["2024-08-23","2024-08-30","2024-09-06","2024-09-13","2024-09-20","2024-09-27","2024-10-04","2024-10-11","2024-10-18","2024-10-25","2024-11-01","2024-11-08","2024-11-15","2024-11-22","2024-11-29","2024-12-06","2024-12-13","2024-12-20","2024-12-27","2025-01-03","2025-01-10","2025-01-17","2025-01-24","2025-01-31","2025-02-07","2025-02-14","2025-02-21","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":[150.01,132.42,114.3,141.47,144.78,176.22,176.51,212.59,215.86,234.34,229.71,270.42,340.65,421.88,387.47,395.01,408.67,364.2,330.0,339.66,327.91,396.5,353.67,334.79,327.56,337.73,299.69,255.43,287.18,297.49,304.0,289.41,293.61,299.98,317.2,368.71,394.37,416.03,399.8,369.51,369.06,374.47,382.87,369.7,383.88,403.99,434.58,423.22,405.89,366.63,395.13,366.32,358.13,334.41,335.87,331.44,344.75,309.06,351.63,304.79,289.87,289.08,269.51,241.93,199.75,170.5,177.18,178.99,176.45,164.82,158.81,157.16,157.33,173.71,163.11,149.71,134.93,133.88,131.05,129.5,133.53,139.67,135.66,126.03,119.83,128.64,166.52,171.02,177.17,187.59,177.42,159.89,159.09,120.44,123.97,112.53,82.31,100.77,94.64,94.85,91.67,93.28,100.01,93.04],"consensus":[25.2973,-44.0836,-61.0179,36.8916,12.2292,63.9587,41.3011,77.066,41.9312,66.1648,16.9865,75.3547,74.2194,72.5223,14.49,41.0778,53.4463,-14.7324,-18.9293,14.4757,-16.8492,54.6571,-14.4418,-10.3917,0.0,0.0,-44.756,-54.4014,0.0,0.0,0.0,-20.2604,0.0,10.7496,19.4527,53.8811,48.4745,49.7103,15.0269,-13.3231,0.0,0.0,11.4552,-9.5853,24.1577,35.6417,53.8075,0.0,0.0,-44.3735,15.149,-40.6448,-19.6273,-46.6181,-23.7619,-25.9731,0.0,-50.2151,29.2323,-56.7418,-45.2248,-29.0726,-50.4035,-53.8948,-72.2683,-72.8761,-33.8848,-30.0516,-41.9372,-42.0621,-42.1265,-31.3725,-37.3456,0.0,-24.5545,-38.0987,-39.6462,-24.9549,-27.0105,-24.7393,-16.2469,0.0,-22.3704,-34.7909,-34.3662,0.0,56.7644,33.8368,42.7874,50.595,0.0,-24.3923,0.0,-63.3348,-21.3983,-50.5382,-74.4014,0.0,-41.8261,-27.7324,-28.7646,-23.0684,0.0,-33.2412],"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":[-10.1472,-51.7084,-15.7869,-20.6862,0.0,-49.331,31.5703,-56.2121,-43.6421,-29.2543,-47.8609,-50.0834,-75.1384,-70.8709,-27.3014,-20.9138,-45.905,-45.6617,-46.7474,-28.935,-42.5891,0.0,-29.0318,-41.376,-30.547,-17.802,-22.3146,-23.0042,-23.0713,0.0,-33.071,-45.1784,-41.6673,0.0,49.7303,26.1263,38.9887,49.0917,0.0,-32.7791,0.0,-61.5568,-15.9808,-53.0259,-76.5616,0.0,-43.8207,-27.6289,-43.2293,-26.5633,0.0,-43.2337],"force":[-13.0749,-43.4562,-5.2518,-10.375,0.0,-58.0176,65.4883,-77.1039,-37.7076,-10.0093,-45.507,-51.4766,-75.9145,-81.1247,-2.3693,-2.0177,-19.1829,-30.1894,-21.3595,-7.0367,-14.2408,0.0,-15.8305,-36.2818,-46.8657,-3.989,-8.6195,-6.6251,-4.911,0.0,-19.5362,-34.9181,-26.2554,0.0,84.1963,22.9744,32.7509,40.1006,0.0,-45.8695,0.0,-91.0408,-0.6704,-49.899,-93.4141,0.0,-28.4798,-6.3595,-13.7803,-3.2201,0.0,-30.1224],"direction":[-35.1419,-43.0591,-46.0977,-43.157,0.0,-45.6522,0.6633,-42.8029,-52.403,-42.4815,-56.8069,-59.9778,-66.3837,-69.276,-67.3044,-63.4013,-53.6556,-46.4287,-51.6789,-51.5409,-47.8564,0.0,-25.6689,-35.651,-44.8885,-48.1052,-45.5137,-39.6609,-23.5603,0.0,-12.1657,-22.8286,-31.8154,0.0,45.2091,50.4077,54.2978,59.8091,0.0,-0.5334,0.0,-45.5767,-43.3531,-48.1518,-58.352,0.0,-49.0797,-43.117,-22.9365,-33.2516,0.0,-24.0489],"intensity":[80.7692,32.6923,19.2308,3.8462,23.0769,59.6154,73.0769,80.7692,84.6154,7.6923,28.8462,55.7692,69.2308,59.6154,38.4615,11.5385,21.1538,30.7692,1.9231,3.8462,3.8462,32.6923,38.4615,30.7692,71.1538,26.9231,1.9231,3.8462,21.1538,7.6923,5.7692,19.2308,30.7692,19.2308,82.6923,78.8462,11.5385,51.9231,28.8462,67.3077,42.3077,88.4615,63.4615,28.8462,73.0769,46.1538,21.1538,1.9231,3.8462,9.6154,19.2308,21.1538],"confirmation":[74.2255,82.7439,52.4946,75.9166,5.7177,84.3201,55.757,86.786,82.267,76.7195,84.0186,85.2307,91.1932,91.6023,55.6773,54.5422,80.666,81.0432,80.7772,54.668,79.1665,7.4156,75.5233,80.0863,81.0455,52.7889,76.1544,52.7243,50.8312,26.5087,74.9091,78.9787,78.6387,4.2775,87.1078,78.6142,81.444,83.8935,7.8666,53.7794,1.1646,89.1386,51.7338,84.1148,92.355,11.1845,80.9472,53.5579,76.5276,52.0571,4.2184,86.3899],"persistence":[0.0,25.0,50.0,62.5,62.5,62.5,62.5,62.5,62.5,62.5,62.5,62.5,75.0,75.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,87.5,87.5,87.5,87.5,87.5,87.5,87.5,87.5,87.5,87.5,87.5,87.5,75.0,50.0,25.0,0.0,12.5,25.0,25.0,37.5,25.0,0.0,25.0,50.0,62.5,75.0,75.0,87.5,87.5,75.0,75.0],"assessmentRisk":[39.2396,21.9859,37.7341,33.4891,27.2511,15.322,13.1316,10.657,26.0566,18.1834,24.6846,22.6923,13.8207,13.5573,33.0088,34.4228,16.2351,9.015,12.7371,27.7469,25.1838,23.4439,25.7141,3.4228,25.7576,37.4579,36.4504,37.0568,0.5586,32.1959,37.1609,2.5955,29.3356,40.0202,20.726,32.9919,28.5978,24.6994,34.2513,22.3544,42.501,18.2956,39.1203,24.3348,12.7725,38.666,24.5049,26.9009,41.7602,11.5619,16.4576,10.4804],"volumeParticipation":true,"latest":{"consensus":-33.2,"control":-43.2,"force":-30.1,"direction":-24.0,"confirmation":86.4,"persistence":75.0,"assessmentRisk":10.5,"intensity":21.2,"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":"Established","confirmationState":"Strong support","riskState":"Contained","intensityState":"Quiet"},"cards":[{"label":"SM Consensus Gauge","value":"-33.2","detail":"Joint downward confirmation","tone":"negative"},{"label":"SM Control Gauge","value":"-43.2","detail":"Seller control supports the view","tone":"negative"},{"label":"SM Force Gauge","value":"-30.1","detail":"Downward commitment","tone":"negative"},{"label":"SM Direction Gauge","value":"-24.0","detail":"Downward follow-through","tone":"negative"},{"label":"SM Confirmation Gauge","value":"86/100","detail":"Strong support","tone":"positive"}]},"kpis":[{"label":"Price structure","value":"Aligned downward","detail":"completed-week alignment","tone":"negative"},{"label":"Momentum","value":"35.2","detail":"Negative","tone":"negative"},{"label":"Risk pressure","value":"22.9%","detail":"Elevated","tone":"caution"},{"label":"Trend quality","value":"26.5","detail":"Directional","tone":"positive"},{"label":"Range position","value":"10%","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 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