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Price has not yet responded to the same extent.","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, Activity pressure and cumulative balance, Drawdown and recovery pressure, Range pressure and compression, 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":58,"displayedObservations":58,"assetType":"ETF","state":"Aligned downward","stateTone":"negative","summary":"Market Dynamics strengthened this week and remains positive. 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Dynamics","kind":"structuralDivergence","expectedDirection":"lower","episodes":0,"completedEpisodes":0,"activeEpisodes":0,"horizons":[{"weeks":4,"sample":0,"expectedCount":0,"confidence":"Not enough evidence"},{"weeks":12,"sample":0,"expectedCount":0,"confidence":"Not enough evidence"},{"weeks":26,"sample":0,"expectedCount":0,"confidence":"Not enough evidence"}],"path":[{"week":0,"sample":0},{"week":1,"sample":0},{"week":2,"sample":0},{"week":3,"sample":0},{"week":4,"sample":0},{"week":5,"sample":0},{"week":6,"sample":0},{"week":7,"sample":0},{"week":8,"sample":0},{"week":9,"sample":0},{"week":10,"sample":0},{"week":11,"sample":0},{"week":12,"sample":0},{"week":13,"sample":0},{"week":14,"sample":0},{"week":15,"sample":0},{"week":16,"sample":0},{"week":17,"sample":0},{"week":18,"sample":0},{"week":19,"sample":0},{"week":20,"sample":0},{"week":21,"sample":0},{"week":22,"sample":0},{"week":23,"sample":0},{"week":24,"sample":0},{"week":25,"sample":0},{"week":26,"sample":0}]},"currentApplication":{"status":"Underlying strength ahead of price","tone":"caution","headline":"Underlying strength is leading price","use":"A positive price response is needed before the early upside case is confirmed.","confirm":"Treat the gap as an early-upside opportunity watch. A continued positive price response would confirm that price is catching up with the stronger foundation.","invalidate":"Reassess the reading when either price structure or the Market Dynamics state changes materially.","level":"positive","direction":"strengthening","zone":"middle","zoneContext":"Market Dynamics has strengthened across the recent completed path and remains strongly positive, while price has not advanced as far through its range. The gap is an early-upside watch; a positive price response is needed for confirmation.","historical":{"label":"Broad directional cases","weeks":12,"direction":"higher","percent":0.0,"averageReturn":-4.8,"sample":1},"nowContext":{"label":"Stronger this week","detail":"Market Dynamics strengthened this week and remains positive."},"fourWeekContext":{"label":"Strengthened over four weeks","detail":"Underlying support has strengthened across the recent completed path."},"priceContext":{"label":"Price is lagging the underlying strength","detail":"Market Dynamics has advanced further through its recent range than price. This is positive divergence and an early-upside watch, but price confirmation is still required."}},"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":"Early repair watch","title":"Prepare the case before price confirms the recovery","tone":"recovery","approach":"Use the improvement to move the ticker onto a watchlist or define an entry trigger. Commitment should rise only after price responds; fading Market Dynamics cancels the early case.","finding":"In this ticker's completed record, 0.0% of comparable cases moved higher after 12 weeks, with an average move of -4.8% across 1 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, 100.0% of completed 12-week outcomes were lower across 1 cases. Distinct visits lasted 1.0 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 improving Market Dynamics to prepare, not anticipate","tone":"recovery","finding":"Comparable disagreements produced an average recovery of 0.3% across 1 completed cases, with the largest move arriving after 10.0 weeks on average.","approach":"Define the price level that would confirm the repair. Until that response occurs, keep the idea at watchlist or starter-position size.","watch":"The early repair fails if Market Dynamics fades before price responds."}]},"summary":"This record compares the ticker's completed price path with its published Market Dynamics history."},"events":{"positioning_recoveries":[{"date":"2026-08-07","price":6.8}],"reversal_warnings":[],"reversal_dangers":[]}},"smTape":{"available":true,"dates":["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":[7.818,7.868,7.592,7.591,7.691,8.002,7.91,7.932,8.355,8.806,8.691,9.26,8.398,8.271,8.344,8.303,8.12,8.177,7.559,7.823,7.933,7.773,7.68,7.663,7.806,7.979,8.13,8.07,7.919,7.558,7.372,7.26,7.128,6.715,6.938,6.669,6.506,6.482,6.789,7.184,6.848,6.871,7.084,6.847,6.608,6.819,6.691,6.529,6.404,6.035,6.25,6.621,6.44,6.442,6.709,6.8,6.632,6.49],"consensus":[100.0,-26.0664,-71.5302,-33.0538,-10.2629,37.2049,0.0,10.4319,63.5268,76.2392,18.6746,74.3318,-29.5212,-26.2201,0.0,-25.7653,-33.7316,-14.9025,-62.7762,-24.0864,0.0,-42.4006,-15.8586,-34.5398,0.0,16.3673,16.5884,14.0268,-18.7002,-46.4477,-61.3346,-52.7249,-56.3616,-73.0532,-23.209,-65.323,-59.3983,-42.3143,0.0,43.6372,-26.6713,0.0,33.878,-45.3864,-56.7763,0.0,-39.9832,-33.9198,-33.3232,-37.0616,-20.8679,17.4962,-21.7792,-11.556,42.5519,28.9992,-18.9226,-34.8368],"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":[0.0,0.2317,62.2714,71.5132,5.8978,65.9128,-36.0867,-15.8356,0.0,-19.517,-35.5422,-18.2051,-68.1562,-23.0194,0.0,-41.4473,-14.6557,-42.3171,0.0,4.9496,3.8874,10.0268,-25.9574,-44.4914,-57.8659,-58.4964,-60.2587,-78.144,-21.0538,-72.3544,-63.3779,-46.4751,0.0,43.0063,-44.0589,0.0,28.7761,-37.6536,-60.0108,0.0,-47.4314,-34.8953,-35.3914,-26.4706,-14.1652,18.7156,-31.7066,-27.7809,42.2721,23.3659,-23.7398,-41.3196],"force":[0.0,0.1824,67.459,88.0772,29.6304,83.8021,-76.3971,-46.0753,0.0,-35.524,-42.5181,-10.5996,-63.8257,-1.3112,0.0,-46.2376,-7.7295,-19.3162,0.0,42.4821,17.9884,5.8718,-34.0107,-51.0733,-76.4264,-37.2229,-45.8214,-74.2689,-20.782,-57.7025,-46.0371,-16.1227,0.0,72.4337,-29.5503,0.0,61.9878,-82.4158,-77.9663,0.0,-35.8152,-21.9533,-17.5145,-22.9473,-8.7792,31.903,-18.4203,-8.6889,55.1273,30.3211,-62.5808,-66.3419],"direction":[0.0,29.4102,62.153,73.1846,67.7802,77.1891,-11.4651,-23.9057,0.0,-25.9357,-25.3862,-14.2015,-55.8778,-41.5738,0.0,-40.7494,-23.0398,-36.5255,0.0,10.7628,30.1039,24.4234,-0.5298,-45.3796,-54.519,-57.2019,-59.4364,-66.3667,-57.0941,-62.7303,-64.394,-56.2675,0.0,23.7894,-4.7434,0.0,19.6303,-27.7743,-37.9442,0.0,-34.4481,-41.3526,-42.2515,-59.2472,-49.7048,5.812,-12.8328,-4.9387,33.8891,34.4929,-17.7673,-4.9242],"intensity":[16.6667,14.2857,87.5,100.0,40.0,100.0,100.0,92.3077,50.0,60.0,62.5,11.7647,88.8889,47.3684,15.0,19.0476,31.8182,13.0435,20.8333,64.0,34.6154,37.037,21.4286,86.2069,33.3333,16.129,28.125,84.8485,44.1176,54.2857,55.5556,32.4324,65.7895,74.359,70.0,34.1463,50.0,41.8605,93.1818,35.5556,13.0435,57.4468,16.6667,81.6327,68.0,74.5098,32.6923,48.0769,53.8462,30.7692,25.0,26.9231],"confirmation":[27.9507,25.8479,88.4676,92.8293,11.0196,92.2031,35.8879,77.1538,24.4934,76.6375,79.0343,72.5873,88.0384,52.3631,28.1729,81.6997,50.1787,78.4703,29.1732,51.5407,50.8778,49.6343,51.7864,83.034,88.1399,84.3116,85.6551,91.3365,33.2192,88.564,86.5396,80.679,33.0389,82.8511,53.6909,25.1634,79.7754,83.77,86.7649,5.6924,80.5541,78.4748,78.1501,79.5909,30.4159,51.3526,74.7157,49.7502,82.0041,77.4059,33.7694,41.2866],"persistence":[28.5714,12.5,12.5,12.5,37.5,62.5,62.5,37.5,37.5,12.5,12.5,37.5,62.5,87.5,75.0,75.0,87.5,87.5,75.0,50.0,25.0,0.0,12.5,12.5,12.5,12.5,25.0,50.0,75.0,100.0,100.0,100.0,87.5,62.5,62.5,50.0,25.0,25.0,25.0,12.5,25.0,50.0,50.0,62.5,87.5,62.5,62.5,75.0,50.0,25.0,25.0,25.0],"assessmentRisk":[45.8089,43.1741,18.0816,11.7937,40.5612,12.8309,20.5702,32.1338,34.4974,36.7188,16.0317,5.5964,16.9958,30.1129,21.8058,18.5288,24.8154,4.41,21.8846,29.0945,40.1422,40.7221,33.0839,24.1429,19.1786,23.6292,21.816,13.4678,37.3649,17.0849,20.1132,21.1161,32.8669,26.9308,57.5058,42.7227,24.8546,21.1701,8.6374,10.5833,26.49,27.0223,19.5031,31.3265,36.7683,8.5152,18.6671,53.552,26.9317,18.8511,44.8164,28.5664],"volumeParticipation":true,"latest":{"consensus":-34.8,"control":-41.3,"force":-66.3,"direction":-4.9,"confirmation":41.3,"persistence":25.0,"assessmentRisk":28.6,"intensity":26.9,"evidenceDepth":100},"analysis":{"status":"Price structure has stronger support","headline":"The gauges support the price-technical view","summary":"Price structure and Market Dynamics disagree. The completed evidence gives the downward price structure stronger support.","take":"Current assessment: price structure remains primary, but the disagreement lowers confirmation.","tone":"negative","supportedView":"Price structure","direction":"downward","disagreement":true},"support":{"window":"Latest 12 months","controlState":"Seller control supports the view","controlPath":"Control support is strengthening","forceState":"Downward commitment","forcePath":"Commitment is strengthening","directionState":"Follow-through is limited","persistenceState":"Unsettled","confirmationState":"Qualified support","riskState":"Contained","intensityState":"Quiet"},"cards":[{"label":"SM Consensus Gauge","value":"-34.8","detail":"Price structure has stronger support","tone":"negative"},{"label":"SM Control Gauge","value":"-41.3","detail":"Seller control supports the view","tone":"negative"},{"label":"SM Force Gauge","value":"-66.3","detail":"Downward commitment","tone":"negative"},{"label":"SM 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and its trend references are aligned downward.","series":[{"label":"Close","values":[7.818,7.868,7.592,7.591,7.691,8.002,7.91,7.932,8.355,8.806,8.691,9.26,8.398,8.271,8.344,8.303,8.12,8.177,7.559,7.823,7.933,7.773,7.68,7.663,7.806,7.979,8.13,8.07,7.919,7.558,7.372,7.26,7.128,6.715,6.938,6.669,6.506,6.482,6.789,7.184,6.848,6.871,7.084,6.847,6.608,6.819,6.691,6.529,6.404,6.035,6.25,6.621,6.44,6.442,6.709,6.8,6.632,6.49],"stroke":"#10243b","width":2.1},{"label":"Fast trend","values":[null,null,null,null,7.7386,7.7865,7.809,7.8313,7.9265,8.0864,8.1964,8.3898,8.3913,8.3694,8.3648,8.3535,8.3111,8.2867,8.1544,8.0941,8.0648,8.0118,7.9515,7.899,7.8821,7.8997,7.9416,7.9649,7.9566,7.8841,7.791,7.6945,7.5915,7.4321,7.3423,7.2199,7.0901,6.9795,6.9449,6.9883,6.9628,6.9461,6.9712,6.9486,6.8867,6.8744,6.841,6.7843,6.7152,6.5915,6.5294,6.5461,6.5268,6.5114,6.5473,6.5932,6.6003,6.5802],"stroke":"#176fa3","width":1.7},{"label":"Slow 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