{"schema_version":"1.0","name":"539A Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"6f70673a-3fb4-42ab-b6b3-817f6d095dd4","symbol":"539A","name":"NZAM ETF FTSE WGBI ex Japan(Unhedged)","exchange":"JPX","country":"JP","asset_type":"etf","currency":"JPY","sector":null,"industry":null},"summary":"The completed price path and its progression through the positioning zones can be described, but there is not enough usable Market Dynamics history to confirm or challenge the technical state.","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, Completed returns and cumulative progression, Range expansion and closing direction, Activity pressure and cumulative balance, Acceleration, deceleration and rollover, Range position and boundary pressure."},{"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":23,"displayedObservations":23,"assetType":"ETF","state":"Aligned downward","stateTone":"negative","summary":"The completed price path and its progression through the positioning zones can be described, but there is not enough usable Market Dynamics history to confirm or challenge the technical state.","evidenceAlignment":{"status":"Evidence developing","headline":"Price structure is visible; Market Dynamics is not yet established","summary":"The completed price path and its progression through the positioning zones can be described, but there is not enough usable Market Dynamics history to confirm or challenge the technical state.","take":"Treat movement through the zones as price-location context only. Reaching the upper zone shows extension, but without an established Market Dynamics read it does not by itself establish active distribution, divergence or reversal risk.","tone":"neutral","conflict":false},"marketDynamics":{"available":true,"readAvailable":false,"dates":["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"],"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],"opens":[5000.0,5555.0,5000.0,6301.0,5100.0,5168.0,5185.0,5096.0,5010.0,4966.0,5002.0,5042.0,4988.930528,5025.628418,5026.620605,5022.652832,5021.661133,5021.0,5022.0,5045.0,4926.0,4907.0,4957.0],"highs":[5000.100098,6245.0,6264.0,6301.0,5176.0,5365.0,5188.0,5106.0,5061.0,4984.0,5034.0,5042.0,4989.922363,5025.628418,5026.620605,5022.652832,5021.661133,5022.0,5045.0,5059.0,4926.0,4978.0,4993.0],"lows":[4997.509766,5138.0,5000.0,5066.0,5012.0,5160.0,5183.0,5033.0,4960.0,4936.0,5002.0,5042.0,4988.930528,5025.628418,5026.620605,5022.652832,5021.661133,5021.0,5022.0,4975.0,4884.0,4907.0,4957.0],"closes":[4997.509766,5138.0,5301.0,5100.0,5168.0,5160.0,5188.0,5033.0,4966.0,4984.0,5034.0,5042.0,4989.922363,5025.628418,5026.620605,5022.652832,5021.661133,5022.0,5045.0,4981.0,4913.0,4959.0,4967.0],"hoverRows":[[{"label":"Open","value":"5,000","className":"is-ohlc","compact":true},{"label":"High","value":"5,000","className":"is-ohlc","compact":true},{"label":"Low","value":"4,998","className":"is-ohlc","compact":true},{"label":"Close","value":"4,998","className":"is-ohlc","compact":true},{"label":"Market 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between the lower accumulation area and the upper positioning zone. Market Dynamics history is not yet sufficient to confirm or challenge that progression.","tone":"neutral"},"chartSummary":"Price is between the outer positioning zones. The Market Dynamics bars show whether underlying support is strengthening or weakening.","summary":"Price is travelling between the lower accumulation area and the upper positioning zone. Market Dynamics history is not yet sufficient to confirm or challenge that progression.","annotations":[{"label":"Current tape relationship","value":"Zone progression","detail":"Market Dynamics remains positive and was little changed this week.","tone":"neutral"},{"label":"Price location","value":"Between zones","detail":"Price is progressing between the lower and upper positioning zones while the Market Dynamics read develops.","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":"Unavailable","detail":"Too little usable Market Dynamics history is available for a directional confirmation read.","tone":"neutral"}],"relationshipEvidence":{"available":false,"observations":23,"summary":"More completed weekly history is needed for a dependable ticker-level record."},"events":{"positioning_recoveries":[],"reversal_warnings":[{"date":"2026-03-27","price":5138.0},{"date":"2026-05-29","price":5034.0}],"reversal_dangers":[{"date":"2026-04-03","price":5301.0},{"date":"2026-06-05","price":5042.0}]}},"smTape":{"available":true,"dates":["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":[4997.5098,5138.0,5301.0,5100.0,5168.0,5160.0,5188.0,5033.0,4966.0,4984.0,5034.0,5042.0,4989.9224,5025.6284,5026.6206,5022.6528,5021.6611,5022.0,5045.0,4981.0,4913.0,4959.0,4967.0],"consensus":[-100.0,-100.0,-52.3734,-94.4939,37.2982,0.0,18.1819,-33.2813,-43.1108,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,8.6986,22.8093,-42.5159,-41.6885,0.0,-16.7378],"supportDates":["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,0.0,36.0187,-42.5067,-38.2291,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,18.7249,28.4968,-40.2757,-29.5383,0.0,-14.2941],"force":[-100.0,-100.0,-52.3734,-94.4939,26.4971,0.0,9.6804,-36.9124,-53.0867,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,11.5614,37.641,-74.5939,-59.3929,0.0,-8.0151],"direction":[null,null,null,null,45.0134,0.0,3.8696,-20.1444,-41.5643,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,4.805,5.7151,-22.1634,-42.9284,0.0,-25.7611],"intensity":[null,null,null,null,75.0,40.0,33.3333,14.2857,12.5,22.2222,10.0,9.0909,16.6667,7.6923,7.1429,13.3333,6.25,5.8824,27.7778,47.3684,65.0,38.0952,36.3636],"confirmation":[54.6667,54.6667,39.4262,52.9047,56.775,3.5319,50.6207,78.6201,82.1739,29.0613,29.3659,0.6207,24.801,23.9711,0.985,24.3457,0.6937,49.0764,52.9976,82.6168,82.065,31.7946,55.0],"persistence":[null,null,100.0,100.0,60.0,50.0,28.5714,37.5,37.5,25.0,12.5,0.0,12.5,12.5,25.0,12.5,0.0,12.5,25.0,12.5,0.0,0.0,12.5],"assessmentRisk":[null,null,null,null,22.6608,8.3381,45.9239,7.2603,24.8559,42.9151,46.5851,4.7264,11.9266,18.1608,2.3837,9.6948,26.1616,7.8593,5.4458,11.4793,28.7902,49.9586,40.1467],"volumeParticipation":true,"latest":{"consensus":-16.7,"control":-14.3,"force":-8.0,"direction":-25.8,"confirmation":55.0,"persistence":12.5,"assessmentRisk":40.1,"intensity":36.4,"evidenceDepth":88},"analysis":{"status":"Price structure has the available support","headline":"The gauges support the price-technical view","summary":"Market Dynamics does not provide a directional confirmation. The completed evidence supports the downward price structure.","take":"Current assessment: follow price structure with limited confirmation.","tone":"negative","supportedView":"Price structure","direction":"downward","disagreement":false},"support":{"window":"Latest 12 months","controlState":"Seller control supports the view","controlPath":"Control support is easing","forceState":"Commitment is limited","forcePath":"Commitment is easing","directionState":"Downward follow-through","persistenceState":"Unsettled","confirmationState":"Qualified support","riskState":"Present","intensityState":"Quiet"},"cards":[{"label":"SM Consensus Gauge","value":"-16.7","detail":"Price structure has the available support","tone":"negative"},{"label":"SM Control Gauge","value":"-14.3","detail":"Seller control supports the view","tone":"negative"},{"label":"SM Force Gauge","value":"-8.0","detail":"Commitment is limited","tone":"negative"},{"label":"SM Direction Gauge","value":"-25.8","detail":"Downward follow-through","tone":"negative"},{"label":"SM Confirmation Gauge","value":"55/100","detail":"Qualified support","tone":"neutral"}]},"kpis":[{"label":"Price structure","value":"Aligned downward","detail":"completed-week alignment","tone":"negative"},{"label":"Momentum","value":"69.3","detail":"Positive","tone":"positive"},{"label":"Risk pressure","value":"2.0%","detail":"Contained","tone":"neutral"},{"label":"Trend quality","value":"-","detail":"Developing","tone":"neutral"},{"label":"Range position","value":"6%","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 references are aligned 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Market Dynamics construction and private inputs are not disclosed. Historical research is not a forecast or instruction to trade."}