{"schema_version":"1.0","name":"TCAL Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"6581ef3f-2444-4962-af72-b7a03387c126","symbol":"TCAL","name":"T. ROWE PRICE CAPITAL APPRECIATION PREMIUM INCOME ETF","exchange":"NYSEARCA","country":"US","asset_type":"etf","currency":"USD","sector":null,"industry":null},"summary":"Market Dynamics strengthened this week and remains positive. Underlying support has strengthened across the recent completed path. The completed evidence supports the upward price structure.","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, Range position and boundary 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":"2026-08-21","observations":74,"displayedObservations":74,"assetType":"ETF","state":"Aligned upward","stateTone":"positive","summary":"Market Dynamics strengthened this week and remains positive. Underlying support has strengthened across the recent completed path. The completed evidence supports the upward price structure.","evidenceAlignment":{"status":"Evidence aligned","headline":"Upward price structure retains strong Market Dynamics support","summary":"Market Dynamics strengthened this week and remains positive. Underlying support has strengthened across the recent completed path. The completed evidence supports the upward price structure.","take":"The advance remains supported. Reclassify it only if the broader Market Dynamics path weakens or price structure 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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."},{"eyebrow":"Position management","title":"Separate downside warning from short execution","tone":"negative","finding":"Across 1 completed distribution cycles, the average gross downside opportunity was 7.5%, while the average adverse move was 0.0%.","approach":"Use distribution to reduce or hedge first. A short entry needs confirmed weakness because price can continue rising while distribution persists.","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 history."},"events":{"positioning_recoveries":[],"reversal_warnings":[{"date":"2026-04-03","price":22.167675},{"date":"2026-06-26","price":21.967163}],"reversal_dangers":[{"date":"2026-04-10","price":22.334645},{"date":"2026-07-03","price":22.412424}]}},"smTape":{"available":true,"dates":["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","2026-08-21"],"close":[22.0521,21.1617,21.6362,21.6887,21.6844,21.9845,21.9068,22.066,21.9684,22.2415,22.2057,22.0624,21.9728,22.1328,22.3678,22.3497,22.3768,22.6082,22.328,22.5718,22.6174,22.827,22.501,22.4551,22.5561,22.3264,22.4466,22.7245,22.5763,22.6874,22.7893,22.3296,22.3577,22.6484,22.6297,22.8863,22.3943,22.5268,22.5835,22.746,22.5741,22.8128,22.9942,22.9465,22.8274,23.1266,22.7019,22.9625,23.2341,22.8111,22.3686,21.8434,21.6078,22.1677,22.3346,22.6686,22.3248,21.8897,21.4995,21.4995,21.9385,21.736,21.7557,21.8934,21.736,21.9672,22.4124,22.5311,22.3234,22.3828,22.65,23.1,23.26,23.16],"consensus":[-83.1224,-99.0162,69.2436,-35.7845,-32.4823,37.493,0.0,31.6064,0.0,41.1143,19.3406,-8.6555,-10.7421,19.6317,14.3963,12.0902,13.7747,32.926,-14.1914,33.771,18.4554,35.7748,-20.126,0.0,16.2468,-25.8674,17.865,40.3014,-15.9226,24.4521,19.2308,-46.0747,0.0,29.928,0.0,41.3529,-35.2722,9.8119,0.0,19.4188,-12.5399,34.3842,41.4407,20.4356,0.0,40.4359,-33.0355,33.1158,45.8702,-32.4854,-45.8824,-64.5447,-59.4974,0.0,0.0,41.4204,-18.2167,-43.7563,-62.6248,-35.233,13.3777,-35.0475,0.0,13.8327,-29.403,26.2574,51.3046,39.7529,0.0,15.2389,33.4606,67.0415,57.3886,24.8419],"supportDates":["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"],"control":[-21.0666,0.0,20.7251,-19.6167,25.2088,40.2912,-21.2271,20.2759,12.3726,-39.3749,0.0,30.4425,0.0,41.6746,-40.5104,14.7752,0.0,29.4826,-19.4716,32.4457,43.3964,22.9804,0.0,36.0148,-25.0721,39.0615,46.691,-29.8834,-45.0767,-62.6039,-63.6818,0.0,0.0,42.278,-32.8207,-46.0206,-67.6397,-30.5961,27.9842,-41.0571,0.0,12.2547,-31.7345,27.4874,50.4871,40.6891,0.0,5.8385,31.6235,67.0464,54.483,17.1379],"force":[-64.3253,0.0,23.5523,-43.6732,32.5297,61.1045,-39.7562,31.2215,17.937,-86.2193,0.0,62.7072,0.0,50.635,-62.3754,26.122,0.0,23.7052,-27.1322,52.2205,46.3137,8.8577,0.0,54.965,-70.5944,52.0352,55.025,-62.5621,-59.1773,-77.6736,-50.0323,0.0,0.0,58.5833,-29.9905,-45.8931,-62.4852,-11.9379,50.1818,-30.5494,0.0,30.6782,-30.3549,49.1883,65.6294,28.8879,0.0,6.8045,29.9418,81.9368,56.0678,8.9545],"direction":[-12.52,0.0,5.9105,-20.2925,1.0027,25.4535,-7.1637,24.3897,27.9928,-25.0569,0.0,5.9263,0.0,34.3553,-9.9262,7.5105,0.0,4.8555,-5.8051,23.8594,35.7249,25.7971,0.0,35.1105,-15.3086,12.8068,38.393,-13.9758,-37.3068,-57.385,-61.4762,0.0,0.0,28.181,-6.8836,-39.6423,-56.9931,-57.1716,29.6042,-31.3924,0.0,3.6037,-26.0586,8.4724,42.0067,46.4437,0.0,32.0067,38.0735,56.3964,61.6526,57.7868],"intensity":[63.6364,60.8696,12.5,36.0,7.6923,66.6667,32.1429,13.7931,66.6667,83.871,87.5,69.697,2.9412,48.5714,83.3333,45.9459,44.7368,20.5128,22.5,43.9024,73.8095,6.9767,9.0909,62.2222,82.6087,53.1915,62.5,81.6327,84.0,88.2353,88.4615,88.4615,80.7692,67.3077,71.1538,92.3077,75.0,53.8462,78.8462,46.1538,55.7692,40.3846,19.2308,71.1538,90.3846,86.5385,21.1538,67.3077,76.9231,82.6923,67.3077,5.7692],"confirmation":[33.1106,25.0819,50.6867,76.9155,51.5991,81.5306,52.6023,76.0946,74.2189,84.0695,3.3401,55.9014,23.675,81.5109,80.0333,50.4968,47.2583,51.5246,50.9236,79.5761,81.3797,74.1478,5.2456,81.4496,79.8373,79.083,82.945,79.3516,83.0998,89.084,86.687,34.483,3.7509,81.7645,52.7675,82.0326,87.9593,78.6353,34.1621,78.9866,3.2805,50.2972,77.4025,77.0825,84.8665,80.3755,31.8038,27.4293,78.6281,89.9071,86.3684,39.6138],"persistence":[50.0,37.5,37.5,12.5,37.5,37.5,12.5,12.5,37.5,25.0,12.5,37.5,25.0,25.0,25.0,25.0,12.5,37.5,25.0,25.0,37.5,37.5,50.0,50.0,37.5,37.5,62.5,37.5,12.5,12.5,25.0,37.5,25.0,25.0,50.0,50.0,50.0,50.0,25.0,37.5,37.5,37.5,37.5,12.5,12.5,37.5,25.0,50.0,62.5,62.5,87.5,87.5],"assessmentRisk":[46.582,24.4267,24.4088,36.5198,22.8394,23.9547,12.982,35.0736,37.5484,24.3119,37.8861,23.6112,33.2198,28.8733,24.9441,27.4941,11.9808,35.7565,38.3662,24.2639,25.9386,23.6154,43.1655,24.4379,25.2888,13.369,23.2397,26.9044,19.233,17.6679,20.2495,51.447,5.9374,28.4198,57.3046,9.7247,17.6616,32.2428,45.5227,2.6469,31.5028,34.2578,14.0301,18.6405,23.2126,28.863,50.3407,38.09,20.8467,15.8246,21.2825,37.5103],"volumeParticipation":true,"latest":{"consensus":24.8,"control":17.1,"force":9.0,"direction":57.8,"confirmation":39.6,"persistence":87.5,"assessmentRisk":37.5,"intensity":5.8,"evidenceDepth":100},"analysis":{"status":"Joint upward confirmation","headline":"The gauges support the upward market view","summary":"Price structure and Market Dynamics agree. Control, force and direction support the same upward assessment.","take":"Current assessment: upward pressure has broad support.","tone":"positive","supportedView":"Price structure and Market Dynamics","direction":"upward","disagreement":false},"support":{"window":"Latest 12 months","controlState":"Buyer control supports the view","controlPath":"Control support is strengthening","forceState":"Commitment is limited","forcePath":"Broadly stable","directionState":"Upward follow-through","persistenceState":"Established","confirmationState":"Qualified support","riskState":"Contained","intensityState":"Quiet"},"cards":[{"label":"SM Consensus Gauge","value":"+24.8","detail":"Joint upward confirmation","tone":"positive"},{"label":"SM Control Gauge","value":"+17.1","detail":"Buyer control supports the view","tone":"positive"},{"label":"SM Force Gauge","value":"+9.0","detail":"Commitment is limited","tone":"positive"},{"label":"SM Direction Gauge","value":"+57.8","detail":"Upward 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TCAL Technical Research Pack, completed week 2026-08-21, https://sharemaestro.com/terminal/6581ef3f-2444-4962-af72-b7a03387c126/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. 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