{"schema_version":"1.0","name":"AM98 Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"6f26c584-ea61-4553-aa0c-03c5aba06f82","symbol":"AM98","name":"AMUNDI S&P 500 UCITS ETF","exchange":"VIE","country":"AT","asset_type":"etf","currency":"EUR","sector":null,"industry":null},"summary":"Market Dynamics strengthened this week and remains positive. Underlying support has contracted across the recent completed path. The upward price structure is leading its underlying support.","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, Strength versus the research benchmark, Range position and boundary pressure, Acceleration, deceleration and rollover, Directional strength and control, 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":60,"displayedObservations":60,"assetType":"ETF","state":"Aligned upward","stateTone":"positive","summary":"Market Dynamics strengthened this week and remains positive. 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underlying support","tone":"caution","headline":"Price is leading its underlying support","use":"Market Dynamics must catch up or price may correct toward the weaker underlying position.","confirm":"Treat the gap as an early-downside risk watch. Stronger Market Dynamics would confirm the price move; a weaker price response would confirm that the gap is closing through correction.","invalidate":"Reassess the reading when either price structure or the Market Dynamics state changes materially.","level":"positive","direction":"strengthening","zone":"middle","zoneContext":"Price has advanced further through its recent range than Market Dynamics. The gap is an early-downside risk watch; stronger underlying support or a price reset is needed to close it.","historical":{"label":"Broad directional cases","weeks":12,"direction":"lower","percent":0.0,"averageReturn":9.4,"sample":1},"nowContext":{"label":"Slightly stronger this week","detail":"Market Dynamics strengthened this week and remains positive."},"fourWeekContext":{"label":"Weakened over four weeks","detail":"Underlying support has contracted across the recent completed path."},"priceContext":{"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."}},"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":"In this ticker's completed record, 0.0% of comparable cases moved lower after 12 weeks, with an average move of 9.4% across 1 cases.","watch":"Reassess the reading when either price structure or the Market Dynamics state changes materially."},{"eyebrow":"Zone positioning","title":"Use accumulation to prepare the long case, then wait for confirmation","tone":"positive","finding":"After accumulation, 100.0% of completed 12-week outcomes were higher across 1 cases. Distinct visits lasted 1.0 weeks on average before leaving the zone.","approach":"Build the thesis and entry conditions while price is in accumulation. Increase exposure only when price responds; location alone is not the entry.","watch":"A failed price response or renewed weakness removes the reason to increase long exposure."},{"eyebrow":"Disagreement playbook","title":"Use unsupported price strength to tighten discipline","tone":"caution","finding":"Comparable disagreements produced an average pullback of 4.2% across 1 completed cases, with the largest move arriving after 1.0 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":[],"reversal_warnings":[{"date":"2026-05-01","price":169.639999}],"reversal_dangers":[{"date":"2026-06-26","price":172.5}]}},"smTape":{"available":true,"dates":["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":[149.72,150.06,151.0,152.86,149.94,151.76,154.36,154.92,154.28,155.78,157.4,158.42,158.2,160.96,160.92,157.8,162.32,163.18,158.44,160.98,156.52,162.84,163.64,164.1,162.72,163.64,163.88,165.0,165.56,164.24,165.12,162.48,162.92,162.46,163.32,160.4,158.0,155.3,152.04,155.86,161.9,168.76,169.0,169.64,174.66,175.98,177.08,179.22,177.08,175.88,177.06,172.5,177.16,178.42,176.54,175.74,175.12,182.98,183.44,181.0],"consensus":[100.0,19.3543,65.517,100.0,-40.9262,62.6075,81.4623,72.0973,31.1974,75.0261,84.6915,67.6169,31.4818,87.4919,51.5286,-12.1995,81.0924,31.731,-42.4832,35.2138,-55.9021,55.5412,56.5531,49.4669,20.8184,32.5625,0.0,46.1318,42.2531,16.5453,30.1646,-39.1157,-18.5634,-22.9032,0.0,-53.1013,-58.3283,-70.9165,-72.8361,0.0,53.5544,72.9182,55.1517,57.0409,81.0625,55.6802,67.9462,70.6606,9.0136,37.2271,47.4405,-37.6703,50.8393,55.0313,20.4113,11.5096,-9.2105,72.6414,44.8728,2.4485],"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":[16.3886,66.1949,84.82,60.7361,14.9647,88.2469,42.5322,-14.2247,86.1538,20.728,-38.4314,28.0088,-47.9455,64.9012,59.352,53.0888,11.5196,36.8357,0.0,52.9332,40.6827,14.3995,29.7399,-33.3929,-9.2148,-17.5951,0.0,-51.8492,-53.2893,-68.4004,-72.8707,0.0,50.9857,72.4463,57.5898,59.4575,85.8148,51.6611,69.54,72.7736,5.3675,46.5238,60.4673,-38.3351,65.283,62.1559,31.7216,3.011,-2.6997,76.439,41.9732,11.711],"force":[6.8435,84.15,89.6428,58.43,8.1869,91.258,24.0095,-54.7747,96.4487,6.847,-94.9022,32.3587,-89.3574,77.4445,57.5545,42.0111,4.2997,24.2921,0.0,46.1695,35.5586,10.2756,27.6269,-70.5516,-33.2979,-33.5697,0.0,-70.1994,-65.5197,-82.0175,-75.6928,0.0,91.194,97.1955,46.2151,47.5991,91.2507,43.1978,62.4442,64.9683,39.1493,17.5403,34.2987,-73.025,50.0217,51.151,0.8599,0.7295,-24.7574,90.648,30.4546,39.1535],"direction":[75.2936,78.6017,81.008,82.0427,78.6934,83.9391,81.4669,-20.5257,64.339,62.0802,-9.6717,45.4875,-41.0987,29.1988,52.639,50.6531,43.2445,33.5862,0.0,38.3319,48.8295,23.4759,32.4627,-23.2017,-18.723,-21.3507,0.0,-42.3193,-58.9504,-65.8629,-70.756,0.0,29.6046,56.1168,58.7484,61.0233,68.3539,69.1893,70.0547,72.3117,59.8511,40.6643,41.9397,-11.6572,34.9161,49.6607,21.4504,29.9645,-5.5466,55.4394,58.4854,48.3464],"intensity":[50.0,55.5556,90.0,72.7273,16.6667,84.6154,50.0,100.0,100.0,94.1176,100.0,57.8947,90.0,100.0,81.8182,8.6957,45.8333,56.0,19.2308,25.9259,25.0,75.8621,63.3333,61.2903,3.125,39.3939,23.5294,77.1429,52.7778,67.5676,81.5789,82.0513,97.5,100.0,100.0,6.9767,90.9091,73.3333,23.913,74.4681,39.5833,63.2653,44.0,88.2353,88.4615,23.0769,34.6154,32.6923,13.4615,100.0,90.3846,42.3077],"confirmation":[55.8427,92.421,95.2502,89.4623,33.5301,96.1007,83.7876,32.216,94.3404,54.8965,83.2539,79.2912,87.0295,86.2981,86.0848,83.547,51.6335,78.1028,5.7728,82.6597,81.3409,73.1361,77.5818,81.5623,74.5318,75.735,25.1328,85.5326,86.961,91.0699,91.3941,36.3042,86.3237,92.0809,85.339,85.9285,94.1781,85.4985,89.5508,90.4057,11.1326,79.171,82.5819,81.1218,84.0236,85.3832,51.0967,26.2619,26.1871,91.7361,81.9641,41.2492],"persistence":[75.0,75.0,75.0,75.0,100.0,100.0,100.0,75.0,75.0,75.0,50.0,50.0,25.0,25.0,25.0,50.0,50.0,50.0,62.5,62.5,87.5,87.5,87.5,62.5,37.5,12.5,12.5,12.5,37.5,62.5,87.5,75.0,50.0,25.0,12.5,12.5,37.5,62.5,87.5,100.0,100.0,100.0,100.0,75.0,75.0,75.0,75.0,75.0,50.0,50.0,50.0,62.5],"assessmentRisk":[33.9214,11.9093,5.9085,15.4229,33.8805,6.172,23.4047,10.3959,7.5897,26.3797,18.0636,26.2479,20.7431,33.1755,18.2645,13.4115,37.6861,3.8309,1.2334,8.856,16.3969,2.5814,6.2508,18.8839,30.7998,24.0448,45.2652,19.2677,20.7353,14.5331,13.5819,49.6884,18.0502,13.5134,22.4212,21.4588,9.4198,20.841,15.264,14.354,27.0183,20.1899,24.0596,29.8186,24.1634,7.5563,20.318,36.862,28.3406,8.9416,26.5183,45.42],"volumeParticipation":false,"latest":{"consensus":2.4,"control":11.7,"force":39.2,"direction":48.3,"confirmation":41.2,"persistence":62.5,"assessmentRisk":45.4,"intensity":42.3,"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":"Control support is limited","controlPath":"Broadly stable","forceState":"Upward commitment","forcePath":"Commitment is strengthening","directionState":"Upward follow-through","persistenceState":"Developing","confirmationState":"Qualified support","riskState":"Present","intensityState":"Normal"},"cards":[{"label":"SM Consensus Gauge","value":"+2.4","detail":"Joint upward confirmation","tone":"positive"},{"label":"SM Control Gauge","value":"+11.7","detail":"Control support is limited","tone":"positive"},{"label":"SM Force Gauge","value":"+39.2","detail":"Upward commitment","tone":"positive"},{"label":"SM Direction Gauge","value":"+48.3","detail":"Upward 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