{"schema_version":"1.0","name":"0137W0 Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"7363eb99-22a1-4e29-b381-4595c0143449","symbol":"0137W0","name":"Kiwoom Kiwoom Us S&P 500 & Gold ETF","exchange":"KSC","country":"KR","asset_type":"etf","currency":"KRW","sector":null,"industry":null},"summary":"Market Dynamics weakened this week and remains below zero. Underlying support has contracted across the recent completed path. Price structure remains rotational.","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, Range pressure and compression, Activity pressure and cumulative balance, Directional strength and control, Drawdown and recovery 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":37,"displayedObservations":37,"assetType":"ETF","state":"Rotational","stateTone":"caution","summary":"Market Dynamics weakened this week and remains below zero. Underlying support has contracted across the recent completed path. Price structure remains rotational.","evidenceAlignment":{"status":"Negative pressure; price rotational","headline":"Market Dynamics is negative while price has no clear direction","summary":"Market Dynamics weakened this week and remains below zero. Underlying support has contracted across the recent completed path. Price structure remains rotational.","take":"The underlying condition is weak, but a negative price response is still required.","tone":"caution","conflict":true},"marketDynamics":{"available":true,"readAvailable":true,"dates":["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":[0.460381,0.58642,0.526396,0.408963,0.172748,-0.065812,-0.277461,-0.400135,-0.420057],"opens":[11279.196124,11299.176765,11094.372956,11009.454004,10819.636533,10639.808589,10490.0,10695.0,10750.0],"highs":[11279.196124,11299.176765,11114.353817,11079.387015,10839.617395,10689.760742,10865.0,10875.0,10750.0],"lows":[10904.554977,11199.272461,10989.473437,10829.626363,10539.904297,10270.0,10415.0,10650.0,10365.0],"closes":[10939.521484,11199.272461,10999.463867,10909.549805,10539.904297,10365.0,10675.0,10780.0,10400.0],"hoverRows":[[{"label":"Open","value":"11,279","className":"is-ohlc","compact":true},{"label":"High","value":"11,279","className":"is-ohlc","compact":true},{"label":"Low","value":"10,905","className":"is-ohlc","compact":true},{"label":"Close","value":"10,940","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.46","note":"Supportive and strengthening","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"11,299","className":"is-ohlc","compact":true},{"label":"High","value":"11,299","className":"is-ohlc","compact":true},{"label":"Low","value":"11,199","className":"is-ohlc","compact":true},{"label":"Close","value":"11,199","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.59","note":"Supportive and strengthening","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"11,094","className":"is-ohlc","compact":true},{"label":"High","value":"11,114","className":"is-ohlc","compact":true},{"label":"Low","value":"10,989","className":"is-ohlc","compact":true},{"label":"Close","value":"10,999","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.53","note":"Supportive but easing","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"11,009","className":"is-ohlc","compact":true},{"label":"High","value":"11,079","className":"is-ohlc","compact":true},{"label":"Low","value":"10,830","className":"is-ohlc","compact":true},{"label":"Close","value":"10,910","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.41","note":"Supportive but easing","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"10,820","className":"is-ohlc","compact":true},{"label":"High","value":"10,840","className":"is-ohlc","compact":true},{"label":"Low","value":"10,540","className":"is-ohlc","compact":true},{"label":"Close","value":"10,540","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.17","note":"Supportive but easing","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"10,640","className":"is-ohlc","compact":true},{"label":"High","value":"10,690","className":"is-ohlc","compact":true},{"label":"Low","value":"10,270","className":"is-ohlc","compact":true},{"label":"Close","value":"10,365","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.07","note":"Cautious and weakening","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"10,490","className":"is-ohlc","compact":true},{"label":"High","value":"10,865","className":"is-ohlc","compact":true},{"label":"Low","value":"10,415","className":"is-ohlc","compact":true},{"label":"Close","value":"10,675","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.28","note":"Cautious and weakening","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"10,695","className":"is-ohlc","compact":true},{"label":"High","value":"10,875","className":"is-ohlc","compact":true},{"label":"Low","value":"10,650","className":"is-ohlc","compact":true},{"label":"Close","value":"10,780","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.40","note":"Cautious and weakening","className":"is-negative","wide":true},{"label":"Signal / event","value":"Reversal warning","className":"is-caution","wide":true}],[{"label":"Open","value":"10,750","className":"is-ohlc","compact":true},{"label":"High","value":"10,750","className":"is-ohlc","compact":true},{"label":"Low","value":"10,365","className":"is-ohlc","compact":true},{"label":"Close","value":"10,400","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.42","note":"Cautious and weakening","className":"is-negative","wide":true},{"label":"Signal / event","value":"Reversal danger","className":"is-negative","wide":true}]],"pressureRange":[-2.3,2.3],"priceRange":[10314.943652,11249.328809],"zones":{"accumulationBoundary":-1.5,"accumulationDarkBoundary":-2.0,"distributionBoundary":1.5,"distributionDarkBoundary":2.0},"latest":-0.420057,"state":"Negative and weakening","context":{"scenario":"negativeWeakening","latestDirection":"slight easing","fourWeekDirection":"weakening","now":{"label":"Slightly 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 and Market Dynamics are broadly aligned","detail":"The current price response is broadly consistent with the underlying Market Dynamics path."}},"diagnosis":{"label":"Accumulation pressure","detail":"Price is within accumulation conditions, but the completed tape has not yet confirmed a recovery. The zone is a watch area rather than a directional signal.","tone":"negative"},"chartSummary":"Price is in the accumulation zone. The Market Dynamics bars show whether underlying conditions are repairing or continuing to weaken.","summary":"Price is within accumulation conditions, but the completed tape has not yet confirmed a recovery. The zone is a watch area rather than a directional signal.","annotations":[{"label":"Current tape relationship","value":"Accumulation pressure","detail":"Market Dynamics weakened this week and remains below zero.","tone":"negative"},{"label":"Price location","value":"Accumulation zone","detail":"Price is being tested for a confirmed recovery through the lower zone.","tone":"caution"},{"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":"Weakening","detail":"Underlying support has contracted across the recent completed path.","tone":"negative"}],"relationshipEvidence":{"available":false,"observations":25,"summary":"More completed weekly history is needed for a dependable ticker-level record."},"events":{"positioning_recoveries":[],"reversal_warnings":[{"date":"2026-08-14","price":10780.0}],"reversal_dangers":[{"date":"2026-08-21","price":10400.0}]}},"smTape":{"available":true,"dates":["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":[10034.9688,9880.584,9925.4062,9785.9619,9960.2666,10169.4316,10134.5713,9988.127,9938.2607,9843.5156,9943.248,9913.3281,10097.832,10023.0332,9928.2881,9788.6641,9893.3818,10042.9795,10342.1748,10416.9727,10345.0,10630.0,11000.0,11125.0,11155.0,11395.0,10975.0,11125.0,10939.5215,11199.2725,10999.4639,10909.5498,10539.9043,10365.0,10675.0,10780.0,10400.0],"consensus":[100.0,-14.286,-37.7048,-28.9999,0.0,48.0167,27.4954,0.0,-11.8587,-43.066,0.0,-13.1146,35.8195,11.9798,-19.1961,-29.3649,0.0,28.1943,56.5795,49.0286,11.7811,67.8032,73.5981,66.4898,48.4179,58.8381,0.0,23.9309,-15.2863,16.3424,0.0,-13.7236,-58.6508,-55.0121,10.3324,0.0,-52.7446],"supportDates":["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,49.9748,23.2412,0.0,-10.7507,-38.5475,0.0,-10.5234,37.2172,5.4501,-23.217,-26.0627,0.0,37.5463,60.5042,53.2606,5.4725,76.1856,80.1987,73.7481,46.2355,58.5242,0.0,21.4647,-19.2127,19.6745,0.0,-11.4248,-63.2747,-53.4314,19.9425,0.0,-58.238],"force":[100.0,-14.286,-37.7048,-28.9999,0.0,40.2845,16.153,0.0,-10.138,-45.7498,0.0,-9.9724,32.1978,5.5762,-22.7536,-17.4274,0.0,34.5361,56.6254,31.484,15.7278,61.4974,68.53,47.9034,19.3945,37.9085,0.0,3.6044,-46.1253,0.4441,0.0,-27.06,-67.0675,-54.5214,50.1156,0.0,-59.6349],"direction":[null,null,null,null,0.0,51.3019,40.4591,0.0,-14.3541,-46.3129,0.0,-18.3204,36.8091,24.0165,-12.0598,-41.6656,0.0,12.9764,52.0614,56.724,51.1487,62.7275,69.6746,71.4707,71.6432,74.1465,0.0,41.2683,-11.229,24.5245,0.0,-6.825,-47.3543,-57.169,29.0672,0.0,-41.5449],"intensity":[null,null,null,null,100.0,100.0,16.6667,42.8571,25.0,33.3333,90.0,18.1818,91.6667,38.4615,35.7143,86.6667,62.5,100.0,94.4444,100.0,15.0,85.7143,100.0,73.913,66.6667,84.0,96.1538,51.8519,67.8571,82.7586,63.3333,35.4839,93.75,72.7273,85.2941,68.5714,94.4444],"confirmation":[54.6667,27.2382,34.7322,31.9466,7.0289,83.0999,76.5177,28.5841,71.7592,81.9318,27.5034,72.1404,79.3306,26.4046,74.1899,77.0833,29.9636,77.0729,86.047,83.09,7.7172,89.3771,91.2963,88.5997,82.6425,86.1951,7.8042,52.4093,30.8338,50.0953,30.2931,50.1664,86.9543,85.613,33.24,27.2854,85.0046],"persistence":[null,null,33.3333,50.0,40.0,16.6667,0.0,0.0,25.0,25.0,12.5,12.5,0.0,0.0,25.0,37.5,25.0,0.0,12.5,37.5,37.5,37.5,62.5,87.5,100.0,100.0,87.5,87.5,62.5,62.5,50.0,25.0,0.0,25.0,12.5,25.0,25.0],"assessmentRisk":[null,null,null,null,26.9594,23.7948,31.3754,48.4408,2.2157,27.8352,44.6476,20.8031,24.3908,38.6242,3.426,23.2331,50.0473,5.9142,21.5025,25.4771,44.0215,16.0711,13.1757,16.7415,25.7879,20.5741,7.4763,11.9654,31.2652,44.5381,9.2854,30.8131,16.9753,22.37,48.1168,29.0306,0.6368],"volumeParticipation":true,"latest":{"consensus":-52.7,"control":-58.2,"force":-59.6,"direction":-41.5,"confirmation":85.0,"persistence":25.0,"assessmentRisk":0.6,"intensity":94.4,"evidenceDepth":100},"analysis":{"status":"Market Dynamics has stronger support","headline":"The gauges support the downward view","summary":"The completed evidence gives the downward view the clearer support.","take":"Current assessment: downward pressure has the stronger support.","tone":"negative","supportedView":"Market Dynamics","direction":"downward","disagreement":false},"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":"Strong support","riskState":"Contained","intensityState":"Elevated"},"cards":[{"label":"SM Consensus Gauge","value":"-52.7","detail":"Market Dynamics has stronger support","tone":"negative"},{"label":"SM Control Gauge","value":"-58.2","detail":"Seller control supports the view","tone":"negative"},{"label":"SM Force Gauge","value":"-59.6","detail":"Downward commitment","tone":"negative"},{"label":"SM Direction Gauge","value":"-41.5","detail":"Downward follow-through","tone":"negative"},{"label":"SM Confirmation Gauge","value":"85/100","detail":"Strong support","tone":"positive"}]},"kpis":[{"label":"Price structure","value":"Rotational","detail":"completed-week alignment","tone":"caution"},{"label":"Momentum","value":"43.7","detail":"Negative","tone":"negative"},{"label":"Risk pressure","value":"3.0%","detail":"Elevated","tone":"caution"},{"label":"Trend quality","value":"19.5","detail":"Range-led","tone":"neutral"},{"label":"Range position","value":"46%","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 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rollover","description":"The impulse path separates directional acceleration from a loss of momentum.","reason":"Selected because the latest impulse is unusually active or is approaching a change of 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