{"schema_version":"1.0","name":"MEMA Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"79a224e1-a0e1-4ea9-8ab8-5b3ddabefeaf","symbol":"MEMA","name":"Man Active Emerging Markets Alternative 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 remains elevated in the distribution zone.","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, Range pressure and compression, Range position and boundary pressure, Acceleration, deceleration and rollover, Directional strength and control."},{"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":36,"displayedObservations":36,"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 remains elevated in the distribution zone.","evidenceAlignment":{"status":"Material conflict","headline":"Upward price structure is not confirmed by Market Dynamics","summary":"Market Dynamics weakened this week and remains below zero. Underlying support has contracted across the recent completed path. Price remains elevated in the distribution zone.","take":"The divergence must narrow through either a recovery in Market Dynamics or weaker price. In this configuration, price reversal is the principal risk, so the upward alignment should be treated as vulnerable rather than confirmed.","tone":"negative","conflict":true},"marketDynamics":{"available":true,"readAvailable":true,"dates":["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":[0.098156,0.084911,-0.044165,-0.201886,-0.255007,-0.40098,-0.475984,-0.493628],"opens":[30.8884,31.2189,30.2,29.38,29.85,29.85,30.08,30.9852],"highs":[31.2916,31.2189,30.2,29.9,29.85,30.5008,30.6006,31.2411],"lows":[30.1843,30.2,28.73,29.2783,28.1035,29.41,30.0659,29.9913],"closes":[30.1843,30.7753,29.3395,29.5142,29.3997,30.4428,30.6006,31.2411],"hoverRows":[[{"label":"Open","value":"30.9","className":"is-ohlc","compact":true},{"label":"High","value":"31.3","className":"is-ohlc","compact":true},{"label":"Low","value":"30.2","className":"is-ohlc","compact":true},{"label":"Close","value":"30.2","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.10","note":"Supportive and strengthening","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"31.2","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":"30.8","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.08","note":"Supportive but easing","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"30.2","className":"is-ohlc","compact":true},{"label":"High","value":"30.2","className":"is-ohlc","compact":true},{"label":"Low","value":"28.7","className":"is-ohlc","compact":true},{"label":"Close","value":"29.3","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.04","note":"Cautious and weakening","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"29.4","className":"is-ohlc","compact":true},{"label":"High","value":"29.9","className":"is-ohlc","compact":true},{"label":"Low","value":"29.3","className":"is-ohlc","compact":true},{"label":"Close","value":"29.5","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.20","note":"Cautious and weakening","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"29.9","className":"is-ohlc","compact":true},{"label":"High","value":"29.9","className":"is-ohlc","compact":true},{"label":"Low","value":"28.1","className":"is-ohlc","compact":true},{"label":"Close","value":"29.4","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.26","note":"Cautious and weakening","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"29.9","className":"is-ohlc","compact":true},{"label":"High","value":"30.5","className":"is-ohlc","compact":true},{"label":"Low","value":"29.4","className":"is-ohlc","compact":true},{"label":"Close","value":"30.4","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.40","note":"Cautious and weakening","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"30.1","className":"is-ohlc","compact":true},{"label":"High","value":"30.6","className":"is-ohlc","compact":true},{"label":"Low","value":"30.1","className":"is-ohlc","compact":true},{"label":"Close","value":"30.6","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.48","note":"Cautious and weakening","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"31.0","className":"is-ohlc","compact":true},{"label":"High","value":"31.2","className":"is-ohlc","compact":true},{"label":"Low","value":"30.0","className":"is-ohlc","compact":true},{"label":"Close","value":"31.2","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.49","note":"Cautious and weakening","className":"is-negative","wide":true},{"label":"Signal / event","value":"Reversal warning","className":"is-caution","wide":true}]],"pressureRange":[-2.3,2.3],"priceRange":[29.225404,31.355196],"zones":{"accumulationBoundary":-1.5,"accumulationDarkBoundary":-2.0,"distributionBoundary":1.5,"distributionDarkBoundary":2.0},"latest":-0.493628,"state":"Price ahead of Market Dynamics","context":{"scenario":"priceAhead","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 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":"Unsupported elevation","detail":"Price is in distribution and ahead of Market Dynamics. The advance is not fully confirmed while that gap remains open.","tone":"negative"},"chartSummary":"Price is in the distribution zone. The Market Dynamics bars show whether underlying support is keeping pace with that elevated price.","summary":"Price is in distribution and ahead of Market Dynamics. The advance is not fully confirmed while that gap remains open.","annotations":[{"label":"Current tape relationship","value":"Unsupported elevation","detail":"Market Dynamics weakened this week and remains below zero.","tone":"negative"},{"label":"Price location","value":"Distribution zone","detail":"Price is extended; support can persist, but rollover risk must be monitored.","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":"Not confirming","detail":"Market Dynamics has weakened over four weeks and now lags the elevated price.","tone":"negative"}],"relationshipEvidence":{"available":false,"observations":24,"summary":"More completed weekly history is needed for a dependable ticker-level record."},"events":{"positioning_recoveries":[],"reversal_warnings":[{"date":"2026-08-21","price":31.2411}],"reversal_dangers":[]}},"smTape":{"available":true,"dates":["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":[25.425,25.8851,26.3923,27.061,27.3314,27.7914,28.095,28.319,28.836,29.4456,29.5213,27.305,27.1055,26.3663,26.1895,26.9222,28.8523,30.1513,30.2794,30.7551,32.1721,30.6053,30.9801,32.0018,30.1532,31.5353,32.8098,30.9619,30.1843,30.7753,29.3395,29.5142,29.3997,30.4428,30.6006,31.2411],"consensus":[100.0,92.8193,100.0,55.825,67.9939,76.5599,52.1278,71.3657,68.159,81.2743,53.3396,-59.7935,-38.0819,-68.7445,-54.953,17.7555,62.1764,69.389,55.2549,61.7812,77.042,0.0,45.3479,56.6517,-41.055,60.1186,69.7635,-34.5822,-26.1689,10.9461,-53.9327,-19.2326,-20.738,28.7048,27.1273,-41.6864],"supportDates":["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,86.0839,43.7467,75.7173,60.0033,87.2166,45.5282,-48.3994,-28.2186,-53.8574,-46.6231,22.5702,63.6781,83.4254,63.1265,69.825,87.4686,0.0,51.0993,47.5011,-35.0605,58.3426,71.8112,-29.9865,-36.271,11.5217,-44.4832,-16.2482,-13.4037,35.3542,32.1563,-40.6572],"force":[100.0,92.8193,100.0,55.825,23.6178,51.8248,22.5984,49.8854,60.3295,66.8044,24.8238,-96.7198,-32.2498,-92.8166,-50.5896,69.106,77.3034,59.2438,33.0525,44.9897,69.9496,0.0,29.6026,67.3227,-96.2949,84.6068,82.7395,-88.1408,-34.3914,34.471,-79.547,-4.4544,-13.623,63.2584,28.8547,-52.6531],"direction":[null,null,null,null,99.6911,83.3432,82.7986,81.7355,83.0724,84.8187,82.6353,-46.4393,-53.5201,-68.564,-67.5895,24.4259,49.6552,60.5939,62.1178,64.5822,70.192,0.0,50.0216,59.4875,-8.4487,44.6566,58.1548,-1.5781,-8.7503,6.5153,-46.4362,-39.5625,-34.2023,3.5756,20.1459,-35.0293],"intensity":[null,null,null,null,75.0,20.0,83.3333,14.2857,87.5,66.6667,20.0,100.0,66.6667,61.5385,42.8571,60.0,93.75,100.0,5.5556,31.5789,85.0,85.7143,77.2727,82.6087,87.5,76.0,92.3077,81.4815,75.0,34.4828,73.3333,25.8065,62.5,63.6364,38.2353,37.1429],"confirmation":[54.6667,52.3688,54.6667,40.5307,65.0628,91.6002,83.9087,90.1161,89.6966,93.4762,84.3186,88.4329,80.1588,90.9587,85.5789,35.0509,88.3346,89.6814,84.885,87.1357,92.2784,35.0025,81.9438,86.5932,82.9124,88.0113,90.6886,58.1019,76.4707,50.9342,86.1831,51.7616,74.5311,56.2334,76.6567,44.64],"persistence":[null,null,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,75.0,50.0,25.0,0.0,0.0,0.0,0.0,0.0,25.0,50.0,62.5,87.5,87.5,62.5,62.5,62.5,37.5,12.5,25.0,0.0,25.0,25.0,25.0,25.0,0.0],"assessmentRisk":[null,null,null,null,16.003,11.7201,23.9361,14.3172,15.9205,9.3628,23.3302,13.3323,29.9934,15.599,22.5098,32.0566,16.8604,15.2693,22.3538,19.0766,11.3406,21.6276,5.1818,11.5826,27.125,4.0233,11.6873,16.7071,14.2954,33.5513,22.7028,31.9121,18.2201,28.1445,27.2694,24.9052],"volumeParticipation":true,"latest":{"consensus":-41.7,"control":-40.7,"force":-52.7,"direction":-35.0,"confirmation":44.6,"persistence":0.0,"assessmentRisk":24.9,"intensity":37.1,"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":"Control support is strengthening","forceState":"Downward commitment","forcePath":"Commitment is strengthening","directionState":"Downward follow-through","persistenceState":"Unsettled","confirmationState":"Qualified support","riskState":"Contained","intensityState":"Quiet"},"cards":[{"label":"SM Consensus Gauge","value":"-41.7","detail":"Market Dynamics has stronger support","tone":"negative"},{"label":"SM Control Gauge","value":"-40.7","detail":"Seller control supports the view","tone":"negative"},{"label":"SM Force Gauge","value":"-52.7","detail":"Downward commitment","tone":"negative"},{"label":"SM Direction Gauge","value":"-35.0","detail":"Downward follow-through","tone":"negative"},{"label":"SM Confirmation Gauge","value":"45/100","detail":"Qualified support","tone":"neutral"}]},"kpis":[{"label":"Price structure","value":"Aligned upward","detail":"completed-week alignment","tone":"positive"},{"label":"Momentum","value":"59.4","detail":"Positive","tone":"positive"},{"label":"Risk pressure","value":"4.0%","detail":"Normal","tone":"neutral"},{"label":"Trend quality","value":"14.9","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 references are aligned upward.","series":[{"label":"Close","values":[25.425,25.8851,26.3923,27.061,27.3314,27.7914,28.095,28.319,28.836,29.4456,29.5213,27.305,27.1055,26.3663,26.1895,26.9222,28.8523,30.1513,30.2794,30.7551,32.1721,30.6053,30.9801,32.0018,30.1532,31.5353,32.8098,30.9619,30.1843,30.7753,29.3395,29.5142,29.3997,30.4428,30.6006,31.2411],"stroke":"#10243b","width":2.1},{"label":"Fast trend","values":[null,null,null,null,26.1785,26.4718,26.7669,27.0491,27.374,27.7507,28.0726,27.933,27.7826,27.5251,27.2822,27.2168,27.5141,27.9936,28.4092,28.8358,29.4424,29.6538,29.8949,30.278,30.2553,30.488,30.9102,30.9196,30.7859,30.784,30.5213,30.3382,30.1676,30.2176,30.2873,30.4607],"stroke":"#176fa3","width":1.7},{"label":"Slow trend","values":[null,null,null,null,null,null,null,null,null,null,null,null,26.9182,26.8774,26.8264,26.8335,26.983,27.2177,27.4445,27.6897,28.0218,28.2131,28.4181,28.6836,28.7924,28.9956,29.2781,29.4029,29.4607,29.5581,29.5419,29.5399,29.5295,29.5971,29.6715,29.7877],"stroke":"#07865c","width":1.8},{"label":"Upper envelope","values":[null,null,null,null,null,null,null,null,null,29.9096,30.2669,30.134,30.0112,29.9178,29.837,29.7412,29.8605,30.2479,30.5812,30.9548,31.5987,31.8031,32.0591,32.5073,32.6038,32.8913,33.3927,33.5329,33.5884,33.6797,33.6739,33.6203,33.5218,33.3089,32.927,32.5805],"stroke":"#98a9b8","width":1.0,"dash":[6,5]},{"label":"Lower envelope","values":[null,null,null,null,null,null,null,null,null,25.0067,25.0246,25.1007,25.1447,25.0651,24.9722,25.0078,25.0623,24.9737,24.9213,24.8482,24.879,25.1466,25.3494,25.3952,25.581,25.6678,25.6379,25.762,25.8413,25.883,25.8706,26.1451,26.4731,27.0936,27.9166,28.695],"stroke":"#98a9b8","width":1.0,"dash":[6,5]}],"guides":[],"dates":["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"]},{"key":"participation","eyebrow":"Participation","title":"Activity pressure and cumulative balance","description":"Observed activity is compared with its normal backdrop while cumulative balance tracks directional participation.","reason":"Selected because participation is confirming or diverging from the latest price path.","series":[{"label":"Activity versus norm","values":[null,null,null,null,null,null,null,9.4162,16.5785,8.9143,24.9603,67.9393,9.4063,68.6874,52.5983,150.3997,19.8726,2.4654,2.7648,11.2281,28.0175,2.3987,0.2069,349.6981,70.7687,370.2281,211.8525,418.3346,1.3516,112.5418,369.0965,372.2172,346.5227,95.3178,3.9258,42.5346],"stroke":"#1678a7","width":1.8},{"label":"Cumulative balance","values":[null,null,null,null,null,null,null,135.0,135.0,135.0,135.0,125.301,124.0525,115.1495,108.5551,128.0665,130.5217,130.8097,131.1162,132.3053,133.5157,133.4213,133.4294,135.0,132.6735,135.0,135.0,121.8894,121.8479,125.4732,111.2639,127.8777,109.2864,114.4569,114.6644,116.7726],"stroke":"#07865c","width":1.7}],"guides":[{"label":"Typical 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variability is unusually compressed or expanded versus this ticker's own tape.","series":[{"label":"Range pressure","values":[null,null,null,null,null,null,null,null,null,null,null,null,null,3.0011,3.1766,3.286,3.3305,3.2671,3.2288,3.1798,3.1722,3.4887,3.4403,3.4509,4.0651,3.9567,3.8143,4.2826,4.3411,4.1938,4.5827,4.3807,4.5079,4.3009,4.0979,4.0129],"stroke":"#c13f3f","width":1.9},{"label":"Envelope 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change of 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Market Dynamics construction and private inputs are not disclosed. Historical research is not a forecast or instruction to trade."}