{"schema_version":"1.0","name":"SPIT Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"69fbd5cd-12b4-4a94-9cb9-81672f4fc537","symbol":"SPIT","name":"Fm Emerald Special Situations ETF","exchange":"NASDAQ","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 has moved below the distribution zone after Market Dynamics weakened.","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 pressure and compression, Range position and boundary pressure, Activity pressure and cumulative balance, Directional strength and control, Acceleration, deceleration and rollover."},{"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":46,"displayedObservations":46,"assetType":"ETF","state":"Aligned upward","stateTone":"positive","summary":"Market Dynamics weakened this week and remains below zero. Underlying support has contracted across the recent completed path. Price has moved below the distribution zone after Market Dynamics weakened.","evidenceAlignment":{"status":"Rollover warning","headline":"Price has moved below distribution as Market Dynamics weakened","summary":"Market Dynamics weakened this week and remains below zero. Underlying support has contracted across the recent completed path. Price has moved below the distribution zone after Market Dynamics weakened.","take":"The prior extension has started to roll over. Further price weakness would confirm the downside transition; a recovery in both readings would remove the warning.","tone":"negative","conflict":true},"marketDynamics":{"available":true,"readAvailable":true,"dates":["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":[0.413409,0.706136,1.021093,1.083659,1.097679,1.057654,0.907098,0.956991,1.073863,1.161809,1.26883,1.321628,1.062677,0.737248,0.396923,0.038665,-0.071665,-0.1408],"opens":[30.56,30.74,31.67,31.73,31.35,32.729,32.91,31.95,33.3698,33.87,34.025,34.63,33.17,32.74,32.5,32.715,34.45,34.6],"highs":[31.22,31.69,32.255,32.2138,32.2731,32.98,33.17,33.209,33.95,33.87,34.96,35.66,35.78,33.03,32.65,34.1789,34.535,34.6],"lows":[30.25,29.94,31.2,31.44,30.62,32.45,31.3757,31.2001,33.0347,33.083,33.79,33.0,32.04,32.01,30.56,32.71,33.98,32.955],"closes":[31.0596,31.6425,31.795,31.485,32.2731,32.8631,31.4687,32.9133,33.8919,33.6956,33.9946,33.6675,32.4083,32.01,32.284,34.1789,34.4352,33.2667],"hoverRows":[[{"label":"Open","value":"30.6","className":"is-ohlc","compact":true},{"label":"High","value":"31.2","className":"is-ohlc","compact":true},{"label":"Low","value":"30.2","className":"is-ohlc","compact":true},{"label":"Close","value":"31.1","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.41","note":"Supportive and strengthening","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"30.7","className":"is-ohlc","compact":true},{"label":"High","value":"31.7","className":"is-ohlc","compact":true},{"label":"Low","value":"29.9","className":"is-ohlc","compact":true},{"label":"Close","value":"31.6","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.71","note":"Supportive and strengthening","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"31.7","className":"is-ohlc","compact":true},{"label":"High","value":"32.3","className":"is-ohlc","compact":true},{"label":"Low","value":"31.2","className":"is-ohlc","compact":true},{"label":"Close","value":"31.8","className":"is-ohlc","compact":true},{"label":"Market 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Dynamics","value":"0.91","note":"Supportive but easing","className":"is-positive","wide":true},{"label":"Signal / event","value":"Reversal danger","className":"is-negative","wide":true}],[{"label":"Open","value":"31.9","className":"is-ohlc","compact":true},{"label":"High","value":"33.2","className":"is-ohlc","compact":true},{"label":"Low","value":"31.2","className":"is-ohlc","compact":true},{"label":"Close","value":"32.9","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.96","note":"Supportive and strengthening","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"33.4","className":"is-ohlc","compact":true},{"label":"High","value":"34.0","className":"is-ohlc","compact":true},{"label":"Low","value":"33.0","className":"is-ohlc","compact":true},{"label":"Close","value":"33.9","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"1.07","note":"Supportive and strengthening","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"33.9","className":"is-ohlc","compact":true},{"label":"High","value":"33.9","className":"is-ohlc","compact":true},{"label":"Low","value":"33.1","className":"is-ohlc","compact":true},{"label":"Close","value":"33.7","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"1.16","note":"Supportive and strengthening","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"34.0","className":"is-ohlc","compact":true},{"label":"High","value":"35.0","className":"is-ohlc","compact":true},{"label":"Low","value":"33.8","className":"is-ohlc","compact":true},{"label":"Close","value":"34.0","className":"is-ohlc","compact":true},{"label":"Market 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Dynamics","value":"1.06","note":"Supportive but easing","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"32.7","className":"is-ohlc","compact":true},{"label":"High","value":"33.0","className":"is-ohlc","compact":true},{"label":"Low","value":"32.0","className":"is-ohlc","compact":true},{"label":"Close","value":"32.0","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.74","note":"Supportive but easing","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"32.5","className":"is-ohlc","compact":true},{"label":"High","value":"32.6","className":"is-ohlc","compact":true},{"label":"Low","value":"30.6","className":"is-ohlc","compact":true},{"label":"Close","value":"32.3","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.40","note":"Supportive but easing","className":"is-positive","wide":true},{"label":"Signal / event","value":"Reversal warning","className":"is-caution","wide":true}],[{"label":"Open","value":"32.7","className":"is-ohlc","compact":true},{"label":"High","value":"34.2","className":"is-ohlc","compact":true},{"label":"Low","value":"32.7","className":"is-ohlc","compact":true},{"label":"Close","value":"34.2","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.04","note":"Supportive but easing","className":"is-positive","wide":true},{"label":"Signal / event","value":"Reversal warning","className":"is-caution","wide":true}],[{"label":"Open","value":"34.5","className":"is-ohlc","compact":true},{"label":"High","value":"34.5","className":"is-ohlc","compact":true},{"label":"Low","value":"34.0","className":"is-ohlc","compact":true},{"label":"Close","value":"34.4","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.07","note":"Cautious and weakening","className":"is-negative","wide":true},{"label":"Signal / event","value":"Reversal danger","className":"is-negative","wide":true}],[{"label":"Open","value":"34.6","className":"is-ohlc","compact":true},{"label":"High","value":"34.6","className":"is-ohlc","compact":true},{"label":"Low","value":"33.0","className":"is-ohlc","compact":true},{"label":"Close","value":"33.3","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.14","note":"Cautious and weakening","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}]],"pressureRange":[-2.3,2.3],"priceRange":[30.857064,34.637736],"zones":{"accumulationBoundary":-1.5,"accumulationDarkBoundary":-2.0,"distributionBoundary":1.5,"distributionDarkBoundary":2.0},"latest":-0.1408,"state":"Price is moving ahead of Market Dynamics","context":{"scenario":"priceAhead","latestDirection":"easing","fourWeekDirection":"weakening","now":{"label":"Easier this week","detail":"Market Dynamics weakened this week and remains below zero."},"fourWeek":{"label":"Weakened over four weeks","detail":"Underlying support has contracted across the recent completed path."},"price":{"label":"Price is ahead of the underlying support","detail":"Price is extended relative to Market Dynamics. The gap is a downside-risk warning until support catches up or price resets."}},"diagnosis":{"label":"Distribution rollover","detail":"Price has moved down through distribution conditions as Market Dynamics contracted. The completed tape now carries a stronger continuation-risk warning.","tone":"negative"},"chartSummary":"Price is between the outer positioning zones. The Market Dynamics bars show whether underlying support is strengthening or weakening.","summary":"Price has moved down through distribution conditions as Market Dynamics contracted. The completed tape now carries a stronger continuation-risk warning.","annotations":[{"label":"Current tape relationship","value":"Distribution rollover","detail":"Market Dynamics weakened this week and remains below zero.","tone":"negative"},{"label":"Price location","value":"Between zones","detail":"Price is travelling between the two major positioning zones.","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":"Lagging price","detail":"Price is extended relative to Market Dynamics. The gap is a downside-risk warning until support catches up or price resets.","tone":"negative"}],"relationshipEvidence":{"available":false,"observations":18,"summary":"More completed weekly history is needed for a dependable ticker-level record."},"events":{"positioning_recoveries":[],"reversal_warnings":[{"date":"2026-05-22","price":32.2731},{"date":"2026-07-31","price":32.284},{"date":"2026-08-07","price":34.1789}],"reversal_dangers":[{"date":"2026-06-05","price":31.4687},{"date":"2026-08-14","price":34.4352}]}},"smTape":{"available":true,"dates":["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":[24.1453,24.8684,25.5516,26.3199,25.3432,24.4916,24.0743,26.0623,26.6337,26.0063,25.864,26.3303,26.4807,27.6926,28.453,28.1635,27.7757,27.7041,28.0376,28.6575,28.3513,26.7607,26.4154,26.2912,25.9492,27.061,28.1041,30.3445,31.0596,31.6425,31.795,31.485,32.2731,32.8631,31.4687,32.9133,33.8919,33.6956,33.9946,33.6675,32.4083,32.01,32.284,34.1789,34.4352,33.2667],"consensus":[-100.0,-46.2832,100.0,49.0834,29.1878,-34.24,-35.1218,51.7464,57.0832,0.0,24.1138,34.2253,33.545,77.4538,73.9506,31.0552,8.8934,12.9739,19.5374,39.1388,11.7379,-52.8904,-37.9391,-36.6869,-47.0913,32.7126,49.6764,75.4548,64.7484,65.781,44.674,17.1416,60.9208,51.989,-17.9362,62.9945,68.2678,32.2298,33.046,8.788,-33.1337,-30.699,0.0,53.4247,39.5098,-12.3519],"supportDates":["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":[null,null,null,null,null,-38.7606,-27.4784,69.7463,56.4961,0.0,14.6168,28.4555,44.3736,74.0595,66.347,20.7545,3.9941,10.6632,25.8848,41.9954,6.9157,-47.8388,-34.2197,-33.0702,-44.9119,32.7961,51.085,76.6673,64.7232,69.0987,40.2652,5.3257,68.9257,57.0436,-20.8956,63.212,70.1945,37.7487,22.509,2.115,-24.5381,-27.2592,0.0,65.8963,42.8953,-22.1259],"force":[-100.0,-46.2832,100.0,49.0834,28.0967,-41.7703,-26.0915,48.7764,43.993,0.0,7.3585,36.3551,22.4861,90.0456,82.1452,8.7884,28.6878,3.2493,5.7888,27.8049,17.7278,-92.9521,-38.988,-31.4787,-47.4263,72.7694,62.3197,96.3425,66.6078,60.8839,22.5265,20.041,50.3241,30.9794,-73.2067,72.6191,76.0723,4.7207,13.1866,27.7266,-80.3658,-49.7397,0.0,61.6209,25.3331,-44.5156],"direction":[null,null,null,null,70.1053,-23.6949,-50.3073,33.2965,67.1042,0.0,46.9356,39.298,29.0687,72.3388,76.787,71.287,50.4658,27.2027,22.1036,43.9696,38.2958,-30.0481,-41.4405,-44.5404,-49.3429,4.0051,39.0355,59.1493,63.4489,65.4873,65.5323,57.2044,59.3414,61.2192,-24.925,55.8712,60.4912,52.3158,59.2737,42.4961,-9.2199,-21.0295,0.0,33.3169,45.7669,-21.7924],"intensity":[null,null,null,null,75.0,60.0,33.3333,100.0,50.0,11.1111,90.0,90.9091,8.3333,84.6154,64.2857,13.3333,18.75,94.1176,88.8889,31.5789,10.0,95.2381,72.7273,8.6957,20.8333,76.0,92.3077,100.0,96.4286,24.1379,76.6667,16.129,43.75,90.9091,82.3529,82.8571,91.6667,2.7027,57.8947,38.4615,70.0,100.0,80.9524,95.3488,68.1818,57.7778],"confirmation":[54.6667,37.4773,54.6667,38.3734,15.7123,79.1174,79.0802,84.194,85.8766,35.161,52.6838,79.1049,78.2324,93.2207,92.0298,33.4218,8.8691,49.7189,51.0696,80.1355,6.7135,86.2228,80.2291,79.6362,83.1126,57.0209,84.2603,92.7636,88.7765,88.8501,81.6879,8.8076,87.0497,83.9192,35.3629,88.4483,90.0542,55.4437,78.1301,7.716,80.1732,78.4564,3.5033,85.1556,80.1595,23.1117],"persistence":[null,null,33.3333,0.0,20.0,0.0,14.2857,0.0,25.0,37.5,37.5,37.5,37.5,62.5,87.5,87.5,87.5,100.0,100.0,100.0,100.0,75.0,50.0,25.0,0.0,0.0,0.0,0.0,0.0,25.0,50.0,75.0,100.0,100.0,75.0,75.0,75.0,75.0,75.0,75.0,50.0,25.0,37.5,37.5,37.5,12.5],"assessmentRisk":[null,null,null,null,31.6699,4.7275,30.4673,38.5988,15.5696,46.2141,36.2222,1.8158,26.0842,9.6166,12.8335,33.2725,41.3627,5.7394,36.1122,11.3149,34.4549,17.6243,30.2682,31.5746,26.3851,3.2019,24.3263,12.2596,17.6245,17.1059,27.638,33.9755,13.0151,17.8045,9.0069,14.6795,13.4571,21.1884,33.2092,30.6381,30.9887,33.1909,48.5887,1.707,29.0407,49.1326],"volumeParticipation":true,"latest":{"consensus":-12.4,"control":-22.1,"force":-44.5,"direction":-21.8,"confirmation":23.1,"persistence":12.5,"assessmentRisk":49.1,"intensity":57.8,"evidenceDepth":100},"analysis":{"status":"Market Dynamics has stronger support","headline":"The gauges support the Market Dynamics view","summary":"Price structure and Market Dynamics disagree. The completed evidence gives the downward Market Dynamics view stronger support.","take":"Current assessment: the visible price structure remains vulnerable until Market Dynamics changes.","tone":"negative","supportedView":"Market Dynamics","direction":"downward","disagreement":true},"support":{"window":"Latest 12 months","controlState":"Seller control supports the view","controlPath":"Broadly stable","forceState":"Downward commitment","forcePath":"Broadly stable","directionState":"Downward follow-through","persistenceState":"Unsettled","confirmationState":"Limited support","riskState":"Present","intensityState":"Normal"},"cards":[{"label":"SM Consensus Gauge","value":"-12.4","detail":"Market Dynamics has stronger support","tone":"negative"},{"label":"SM Control Gauge","value":"-22.1","detail":"Seller control supports the view","tone":"negative"},{"label":"SM Force Gauge","value":"-44.5","detail":"Downward commitment","tone":"negative"},{"label":"SM Direction Gauge","value":"-21.8","detail":"Downward follow-through","tone":"negative"},{"label":"SM Confirmation Gauge","value":"23/100","detail":"Limited support","tone":"caution"}]},"kpis":[{"label":"Price structure","value":"Aligned upward","detail":"completed-week alignment","tone":"positive"},{"label":"Momentum","value":"61.3","detail":"Positive","tone":"positive"},{"label":"Risk pressure","value":"4.5%","detail":"Elevated","tone":"caution"},{"label":"Trend quality","value":"15.6","detail":"Range-led","tone":"neutral"},{"label":"Range position","value":"76%","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 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Market Dynamics construction and private inputs are not disclosed. Historical research is not a forecast or instruction to trade."}