{"schema_version":"1.0","name":"XDEF Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"80ee5903-523d-4a0e-9359-9748235eddee","symbol":"XDEF","name":"Xtrackers Europe Defence Technologies UCITS ETF 1C EUR","exchange":"MIL","country":"IT","asset_type":"etf","currency":"EUR","sector":null,"industry":null},"summary":"Market Dynamics strengthened this week and remains positive. Underlying support has strengthened across the recent completed path. 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, Acceleration, deceleration and rollover, Activity pressure and cumulative balance, Range pressure and compression, Range position and boundary pressure, 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 strengthened this week and remains positive. Underlying support has strengthened across the recent completed path. Price has not yet responded to the same extent.","evidenceAlignment":{"status":"Underlying strength ahead of price","headline":"Positive Market Dynamics is leading the current price response","summary":"Market Dynamics strengthened this week and remains positive. Underlying support has strengthened across the recent completed path. Price has not yet responded to the same extent.","take":"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.","tone":"positive","conflict":false},"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":[-0.044903,-0.045284,-0.038501,0.091767,0.166195,0.409755,0.647382,0.747057],"opens":[30.795,29.6,28.915001,29.049999,30.955,32.040001,32.994999,34.099998],"highs":[31.299999,29.6,29.235001,30.245001,31.610001,33.685001,34.130001,34.099998],"lows":[30.795,29.475,28.915001,29.049999,30.639999,31.870001,32.994999,32.049999],"closes":[31.299999,29.58,29.23,30.245001,31.305,33.014999,33.955002,32.080002],"hoverRows":[[{"label":"Open","value":"30.8","className":"is-ohlc","compact":true},{"label":"High","value":"31.3","className":"is-ohlc","compact":true},{"label":"Low","value":"30.8","className":"is-ohlc","compact":true},{"label":"Close","value":"31.3","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":"29.6","className":"is-ohlc","compact":true},{"label":"High","value":"29.6","className":"is-ohlc","compact":true},{"label":"Low","value":"29.5","className":"is-ohlc","compact":true},{"label":"Close","value":"29.6","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.05","note":"Cautious and weakening","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"28.9","className":"is-ohlc","compact":true},{"label":"High","value":"29.2","className":"is-ohlc","compact":true},{"label":"Low","value":"28.9","className":"is-ohlc","compact":true},{"label":"Close","value":"29.2","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.04","note":"Cautious but repairing","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"29.0","className":"is-ohlc","compact":true},{"label":"High","value":"30.2","className":"is-ohlc","compact":true},{"label":"Low","value":"29.0","className":"is-ohlc","compact":true},{"label":"Close","value":"30.2","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.09","note":"Supportive and strengthening","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"31.0","className":"is-ohlc","compact":true},{"label":"High","value":"31.6","className":"is-ohlc","compact":true},{"label":"Low","value":"30.6","className":"is-ohlc","compact":true},{"label":"Close","value":"31.3","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.17","note":"Supportive and strengthening","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"32.0","className":"is-ohlc","compact":true},{"label":"High","value":"33.7","className":"is-ohlc","compact":true},{"label":"Low","value":"31.9","className":"is-ohlc","compact":true},{"label":"Close","value":"33.0","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.41","note":"Supportive and strengthening","className":"is-positive","wide":true},{"label":"Signal / event","value":"Reversal warning","className":"is-caution","wide":true}],[{"label":"Open","value":"33.0","className":"is-ohlc","compact":true},{"label":"High","value":"34.1","className":"is-ohlc","compact":true},{"label":"Low","value":"33.0","className":"is-ohlc","compact":true},{"label":"Close","value":"34.0","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.65","note":"Supportive and strengthening","className":"is-positive","wide":true},{"label":"Signal / event","value":"Reversal danger","className":"is-negative","wide":true}],[{"label":"Open","value":"34.1","className":"is-ohlc","compact":true},{"label":"High","value":"34.1","className":"is-ohlc","compact":true},{"label":"Low","value":"32.0","className":"is-ohlc","compact":true},{"label":"Close","value":"32.1","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.75","note":"Supportive and strengthening","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}]],"pressureRange":[-2.3,2.3],"priceRange":[28.9465,34.238502],"zones":{"accumulationBoundary":-1.5,"accumulationDarkBoundary":-2.0,"distributionBoundary":1.5,"distributionDarkBoundary":2.0},"latest":0.747057,"state":"Positive Market Dynamics ahead of price","context":{"scenario":"dynamicsAhead","latestDirection":"strengthening","fourWeekDirection":"strengthening","now":{"label":"Stronger this week","detail":"Market Dynamics strengthened this week and remains positive."},"fourWeek":{"label":"Strengthened over four weeks","detail":"Underlying support has strengthened across the recent completed path."},"price":{"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."}},"diagnosis":{"label":"Underlying strength ahead of price","detail":"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.","tone":"positive"},"chartSummary":"Price is between the outer positioning zones. The Market Dynamics bars show whether underlying support is strengthening or weakening.","summary":"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.","annotations":[{"label":"Current tape relationship","value":"Underlying strength ahead of price","detail":"Market Dynamics strengthened this week and remains positive.","tone":"positive"},{"label":"Price location","value":"Between zones","detail":"Price is travelling between the two major positioning zones.","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":"Leading price","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.","tone":"positive"}],"relationshipEvidence":{"available":true,"asOf":"2026-08-21","observations":28,"relationship":{"sameWeekCorrelation":0.22,"forwardCorrelation":-0.15,"directionalAgreement":50.0,"sample":4,"correlationSample":27,"label":"Variable relationship"},"accumulation":{"label":"Accumulation","episodes":1,"completedEpisodes":1,"activeEpisodes":0,"averageWeeksInZone":1.0,"medianWeeksInZone":1,"averageWeeksToHigher":1.0,"expectedExitPercent":100.0,"horizons":[{"weeks":4,"sample":1,"expectedCount":1,"expectedPercent":100.0,"medianReturn":16.2,"averageReturn":16.2,"confidenceLow":20.7,"confidenceHigh":100.0,"confidence":"Mixed historical record"},{"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,"averageReturn":3.5,"sample":1},{"week":2,"averageReturn":7.1,"sample":1},{"week":3,"averageReturn":12.9,"sample":1},{"week":4,"averageReturn":16.2,"sample":1},{"week":5,"averageReturn":9.8,"sample":1},{"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}]},"distribution":{"label":"Distribution","episodes":1,"completedEpisodes":1,"activeEpisodes":0,"averageWeeksInZone":1.0,"medianWeeksInZone":1,"averageWeeksToLower":1.0,"expectedExitPercent":100.0,"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,"averageReturn":-5.5,"sample":1},{"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}]},"regimes":{"alignedPositive":{"label":"Price and Market Dynamics positive","kind":"aligned","expectedDirection":"higher","episodes":4,"completedEpisodes":2,"activeEpisodes":2,"medianExpectedMove":4.3,"averageExpectedMove":4.3,"averageWeeksToLargestMove":6.5,"horizons":[{"weeks":4,"sample":4,"expectedCount":2,"expectedPercent":50.0,"averageReturn":-3.3,"medianReturn":-2.5,"confidenceLow":15.0,"confidenceHigh":85.0,"confidence":"Mixed historical record"},{"weeks":12,"sample":2,"expectedCount":1,"expectedPercent":50.0,"averageReturn":-5.5,"medianReturn":-5.5,"confidenceLow":9.5,"confidenceHigh":90.5,"confidence":"Mixed historical record"},{"weeks":26,"sample":0,"expectedCount":0,"confidence":"Not enough evidence"}],"path":[{"week":0,"sample":0},{"week":1,"averageReturn":-0.1,"sample":4},{"week":2,"averageReturn":-0.8,"sample":4},{"week":3,"averageReturn":-0.2,"sample":4},{"week":4,"averageReturn":-3.3,"sample":4},{"week":5,"averageReturn":-4.8,"sample":3},{"week":6,"averageReturn":1.8,"sample":3},{"week":7,"averageReturn":1.0,"sample":3},{"week":8,"averageReturn":-0.7,"sample":3},{"week":9,"averageReturn":-8.8,"sample":2},{"week":10,"averageReturn":-6.9,"sample":2},{"week":11,"averageReturn":-4.7,"sample":2},{"week":12,"averageReturn":-5.5,"sample":2},{"week":13,"averageReturn":-5.6,"sample":2},{"week":14,"averageReturn":-5.5,"sample":1},{"week":15,"averageReturn":-10.7,"sample":1},{"week":16,"averageReturn":-11.8,"sample":1},{"week":17,"averageReturn":-8.7,"sample":1},{"week":18,"averageReturn":-5.5,"sample":1},{"week":19,"averageReturn":-0.3,"sample":1},{"week":20,"averageReturn":2.5,"sample":1},{"week":21,"averageReturn":-3.2,"sample":1},{"week":22,"sample":0},{"week":23,"sample":0},{"week":24,"sample":0},{"week":25,"sample":0},{"week":26,"sample":0}]},"alignedNegative":{"label":"Price and Market Dynamics negative","kind":"aligned","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}]},"priceAhead":{"label":"Price positive, Market Dynamics cautious","kind":"disagreement","expectedDirection":"lower","episodes":1,"completedEpisodes":0,"activeEpisodes":1,"horizons":[{"weeks":4,"sample":1,"expectedCount":0,"expectedPercent":0.0,"averageReturn":0.0,"medianReturn":0.0,"confidenceLow":0.0,"confidenceHigh":79.3,"confidence":"Mixed historical record"},{"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,"averageReturn":-5.5,"sample":1},{"week":2,"averageReturn":-6.6,"sample":1},{"week":3,"averageReturn":-3.4,"sample":1},{"week":4,"averageReturn":0.0,"sample":1},{"week":5,"averageReturn":5.5,"sample":1},{"week":6,"averageReturn":8.5,"sample":1},{"week":7,"averageReturn":2.5,"sample":1},{"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}]},"dynamicsAhead":{"label":"Price cautious, Market Dynamics positive","kind":"disagreement","expectedDirection":"higher","episodes":3,"completedEpisodes":2,"activeEpisodes":1,"medianExpectedMove":6.2,"averageExpectedMove":6.2,"averageWeeksToLargestMove":3.0,"horizons":[{"weeks":4,"sample":3,"expectedCount":3,"expectedPercent":100.0,"averageReturn":4.7,"medianReturn":5.3,"confidenceLow":43.9,"confidenceHigh":100.0,"confidence":"Mixed historical record"},{"weeks":12,"sample":2,"expectedCount":0,"expectedPercent":0.0,"averageReturn":-4.6,"medianReturn":-4.6,"confidenceLow":0.0,"confidenceHigh":65.8,"confidence":"Mixed historical record"},{"weeks":26,"sample":0,"expectedCount":0,"confidence":"Not enough evidence"}],"path":[{"week":0,"sample":0},{"week":1,"averageReturn":-1.1,"sample":3},{"week":2,"averageReturn":1.3,"sample":3},{"week":3,"averageReturn":2.6,"sample":3},{"week":4,"averageReturn":4.7,"sample":3},{"week":5,"averageReturn":0.1,"sample":3},{"week":6,"averageReturn":-1.9,"sample":3},{"week":7,"averageReturn":-2.7,"sample":3},{"week":8,"averageReturn":-0.5,"sample":3},{"week":9,"averageReturn":3.4,"sample":3},{"week":10,"averageReturn":7.6,"sample":3},{"week":11,"averageReturn":0.5,"sample":3},{"week":12,"averageReturn":-4.6,"sample":2},{"week":13,"averageReturn":-3.4,"sample":2},{"week":14,"averageReturn":-4.1,"sample":2},{"week":15,"averageReturn":1.7,"sample":2},{"week":16,"averageReturn":6.7,"sample":2},{"week":17,"averageReturn":0.8,"sample":2},{"week":18,"averageReturn":-5.5,"sample":1},{"week":19,"averageReturn":-2.2,"sample":1},{"week":20,"averageReturn":1.2,"sample":1},{"week":21,"averageReturn":6.7,"sample":1},{"week":22,"averageReturn":9.8,"sample":1},{"week":23,"averageReturn":3.7,"sample":1},{"week":24,"sample":0},{"week":25,"sample":0},{"week":26,"sample":0}]}},"pricePressureGap":{"label":"Price elevated relative to Market Dynamics","kind":"structuralDivergence","expectedDirection":"lower","episodes":1,"completedEpisodes":0,"activeEpisodes":1,"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,"averageReturn":2.8,"sample":1},{"week":2,"averageReturn":-2.8,"sample":1},{"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":"positive","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":-4.6,"sample":2},"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 -4.6% across 2 cases.","watch":"Reassess the reading when either price structure or the Market Dynamics state changes materially."},{"eyebrow":"Disagreement playbook","title":"Use improving Market Dynamics to prepare, not anticipate","tone":"recovery","finding":"Comparable disagreements produced an average recovery of 6.2% across 2 completed cases, with the largest move arriving after 3.0 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":[],"reversal_warnings":[{"date":"2026-08-07","price":33.014999}],"reversal_dangers":[{"date":"2026-08-14","price":33.955002}]}},"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":[28.96,28.945,29.785,33.035,33.51,32.82,31.99,30.935,31.8,33.13,32.46,31.415,31.855,30.26,28.705,31.14,31.095,31.87,29.015,29.15,28.855,27.345,29.2,30.685,29.325,29.48,29.795,28.335,31.3,29.58,29.23,30.245,31.305,33.015,33.955,32.08],"consensus":[100.0,57.8939,92.1053,53.666,71.1365,22.5668,12.1508,-39.2888,21.6102,69.5559,0.0,-25.7947,16.6825,-63.0139,-75.7231,31.7017,0.0,36.7428,-49.1081,-20.0979,-47.9216,-76.7311,22.1456,34.6941,-33.4177,-8.2131,0.0,-29.2447,57.0215,-8.8612,0.0,48.2354,40.5079,65.4279,66.6399,10.0342],"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,0.8435,11.6888,-31.961,24.4007,76.5215,0.0,-33.9397,18.6854,-48.6639,-68.3135,41.7739,0.0,38.3269,-62.926,-7.3213,-41.6645,-76.881,29.5642,34.9173,-34.7177,-25.8656,0.0,-18.6166,69.6121,-8.5975,0.0,42.0042,45.6731,60.4783,67.2237,26.1231],"force":[100.0,57.8939,92.1053,53.666,31.0004,18.8398,23.6913,-78.3986,38.5741,80.2802,0.0,-63.3818,15.1215,-90.7784,-89.5231,59.3036,0.0,40.969,-51.7557,-4.3345,-49.652,-93.2972,67.0446,43.2401,-65.1143,-1.8519,0.0,-20.4455,54.6995,-16.5018,0.0,85.8216,50.0274,81.3441,68.5036,58.7036],"direction":[null,null,null,null,99.8051,76.9696,64.9974,-19.7278,6.304,53.9349,0.0,-10.3619,15.5086,-59.5822,-74.3341,0.4748,0.0,31.9138,-31.425,-52.1514,-53.8366,-64.7267,18.4036,28.3347,-9.2914,-7.4176,0.0,-47.6761,44.2909,-3.7049,0.0,28.5094,27.8053,59.7157,64.6414,43.117],"intensity":[null,null,null,null,75.0,20.0,66.6667,71.4286,37.5,77.7778,10.0,63.6364,8.3333,84.6154,85.7143,93.3333,75.0,23.5294,94.4444,84.2105,60.0,66.6667,72.7273,100.0,66.6667,8.0,3.8462,70.3704,92.8571,62.069,10.0,38.7097,53.125,78.7879,44.1176,74.2857],"confirmation":[54.6667,41.1927,52.1403,39.8398,66.2622,10.3096,33.3736,81.876,52.7231,90.4786,11.939,34.1529,73.2603,89.2293,92.7649,56.1656,47.5534,79.8624,83.5847,29.4728,83.483,93.0565,34.9347,79.3592,79.6398,26.4144,25.3444,77.2521,85.9843,48.4058,25.5921,84.6758,81.174,89.4974,89.3727,44.314],"persistence":[null,null,100.0,100.0,100.0,100.0,100.0,75.0,75.0,75.0,62.5,37.5,37.5,12.5,12.5,12.5,0.0,0.0,12.5,12.5,37.5,37.5,12.5,12.5,25.0,50.0,37.5,37.5,12.5,12.5,25.0,25.0,0.0,25.0,37.5,37.5],"assessmentRisk":[null,null,null,null,14.3601,38.4086,40.1489,25.8632,54.0916,22.7464,18.6048,31.1606,6.0541,17.4759,11.7874,25.1009,25.7555,25.6228,35.6381,34.7586,22.5506,11.5065,4.5712,21.4031,31.8498,48.6549,22.0292,31.7264,14.6664,7.5906,15.4396,19.924,20.0764,16.3942,16.5817,47.7447],"volumeParticipation":true,"latest":{"consensus":10.0,"control":26.1,"force":58.7,"direction":43.1,"confirmation":44.3,"persistence":37.5,"assessmentRisk":47.7,"intensity":74.3,"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":"Buyer control supports the view","controlPath":"Control support is easing","forceState":"Upward commitment","forcePath":"Commitment is easing","directionState":"Upward follow-through","persistenceState":"Unsettled","confirmationState":"Qualified support","riskState":"Present","intensityState":"Elevated"},"cards":[{"label":"SM Consensus Gauge","value":"+10.0","detail":"Joint upward confirmation","tone":"positive"},{"label":"SM Control Gauge","value":"+26.1","detail":"Buyer control supports the view","tone":"positive"},{"label":"SM Force Gauge","value":"+58.7","detail":"Upward commitment","tone":"positive"},{"label":"SM Direction Gauge","value":"+43.1","detail":"Upward follow-through","tone":"positive"},{"label":"SM Confirmation Gauge","value":"44/100","detail":"Qualified support","tone":"neutral"}]},"kpis":[{"label":"Price structure","value":"Aligned upward","detail":"completed-week alignment","tone":"positive"},{"label":"Momentum","value":"54.8","detail":"Positive","tone":"positive"},{"label":"Risk pressure","value":"4.7%","detail":"Normal","tone":"neutral"},{"label":"Trend quality","value":"12.1","detail":"Range-led","tone":"neutral"},{"label":"Range position","value":"71%","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":[28.96,28.945,29.785,33.035,33.51,32.82,31.99,30.935,31.8,33.13,32.46,31.415,31.855,30.26,28.705,31.14,31.095,31.87,29.015,29.15,28.855,27.345,29.2,30.685,29.325,29.48,29.795,28.335,31.3,29.58,29.23,30.245,31.305,33.015,33.955,32.08],"stroke":"#10243b","width":2.1},{"label":"Fast trend","values":[null,null,null,null,30.4924,30.9156,31.1109,31.0789,31.21,31.5591,31.7229,31.6669,31.7011,31.4391,30.942,30.978,30.9993,31.1576,30.768,30.4738,30.1795,29.6641,29.5798,29.7807,29.6978,29.6582,29.6831,29.438,29.7765,29.7408,29.6479,29.7565,30.038,30.5793,31.1931,31.3543],"stroke":"#176fa3","width":1.7},{"label":"Slow trend","values":[null,null,null,null,null,null,null,null,null,null,null,null,30.7337,30.6986,30.5509,30.5946,30.6316,30.7234,30.5968,30.4896,30.3686,30.1446,30.0746,30.1198,30.061,30.0179,30.0014,29.878,29.9833,29.9534,29.8998,29.9254,30.0276,30.2489,30.5234,30.6387],"stroke":"#07865c","width":1.8},{"label":"Upper envelope","values":[null,null,null,null,null,null,null,null,null,34.7995,34.7824,34.6337,34.5396,34.4185,34.4571,34.3477,34.2463,34.2078,34.1915,34.1465,34.1563,34.3655,34.3882,34.1386,33.7561,33.4614,33.2827,33.2712,33.2023,32.7178,32.3339,32.1803,32.0687,32.6018,33.3228,33.4523],"stroke":"#98a9b8","width":1.0,"dash":[6,5]},{"label":"Lower envelope","values":[null,null,null,null,null,null,null,null,null,28.1825,28.3758,28.4971,28.6357,28.5672,28.1569,28.2454,28.3232,28.4266,28.2006,28.041,28.0207,27.6515,27.5703,27.5849,27.5489,27.5096,27.4688,27.2203,27.2392,27.3687,27.4296,27.4662,27.5228,27.2652,27.0692,27.0337],"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":"impulse","eyebrow":"Price impulse","title":"Acceleration, deceleration and 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 direction.","series":[{"label":"Impulse","values":[null,null,null,null,null,null,null,null,null,null,null,null,0.8236,0.6591,0.3987,0.3843,0.3651,0.4077,0.2087,0.0612,-0.0786,-0.3077,-0.3357,-0.2354,-0.2626,-0.2685,-0.245,-0.3402,-0.1745,-0.1798,-0.2098,-0.15,-0.0169,0.224,0.4852,0.5347],"stroke":"#1678a7","width":2.0},{"label":"Signal","values":[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,0.5904,0.5539,0.4848,0.4001,0.3044,0.1819,0.0784,0.0157,-0.04,-0.0857,-0.1176,-0.1621,-0.1646,-0.1676,-0.1761,-0.1709,-0.1401,-0.0672,0.0432,0.1415],"stroke":"#b87806","width":1.7},{"label":"Expansion","values":[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,-0.2253,-0.1461,-0.2761,-0.3389,-0.383,-0.4897,-0.4141,-0.251,-0.2226,-0.1828,-0.1274,-0.1781,-0.0099,-0.0122,-0.0338,0.0208,0.1232,0.2913,0.442,0.3932],"stroke":"#07865c","width":1.0,"fill":"rgba(7,134,92,.12)"}],"guides":[{"label":"Neutral","values":[0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0],"stroke":"#8fa0af","width":1.0,"dash":[6,5]}],"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,87.3431,182.3672,99.6203,160.2617,94.2297,11.9416,112.5739,182.826,45.7377,79.5031,27.8039,12.5546,36.8262,226.4039,252.6404,62.9581,50.9817,234.0057,28.551,25.0684,1.2922,12.0188,2.0173,14.6526,114.6338,80.0962,168.2324,99.1018,53.4416],"stroke":"#1678a7","width":1.8},{"label":"Cumulative balance","values":[null,null,null,null,null,null,null,100.0263,124.8885,135.0,113.8532,101.4843,102.9446,89.0435,65.0479,70.8413,65.0,67.9857,66.7,70.35,65.0,65.0,68.2018,70.5155,65.0,66.1573,67.1711,67.1208,67.5485,67.4806,67.0328,70.5121,73.0254,78.3866,81.3151,79.7427],"stroke":"#07865c","width":1.7}],"guides":[{"label":"Typical activity","values":[100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0],"stroke":"#8fa0af","width":1.0,"dash":[6,5]}],"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":"volatility","eyebrow":"Risk geometry","title":"Range pressure and compression","description":"Movement pressure and envelope width show whether risk is expanding, settling or compressed.","reason":"Selected because current 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,3.905,4.2692,4.2415,4.2348,4.1572,4.8481,4.6096,4.6955,4.9926,4.8259,4.6286,4.9467,4.6964,4.4695,4.7788,4.6937,5.0526,4.9103,4.6888,4.5179,4.4928,4.2952,4.678],"stroke":"#c13f3f","width":1.9},{"label":"Envelope width","values":[null,null,null,null,null,null,null,null,null,21.0122,20.2876,19.4409,18.6906,18.5796,20.1239,19.4982,18.9329,18.46,19.2041,19.6361,19.7358,21.6522,22.0078,21.2356,20.2501,19.5234,19.1401,20.0057,19.7321,17.8047,16.4124,15.8067,15.2566,17.8281,20.71,21.2235],"stroke":"#b87806","width":1.7}],"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":"range","eyebrow":"Acceptance map","title":"Range position and boundary pressure","description":"Price location inside its observed range shows whether the tape is pressing an outer boundary or rotating through value.","reason":"Selected because price is testing an observed boundary or moving rapidly through its recent range.","series":[{"label":"Range position","values":[null,null,null,null,null,null,null,50.8347,65.2754,87.4791,76.2938,58.8481,66.1937,39.5659,13.606,54.2571,53.5058,66.4441,18.7813,21.0351,16.1102,-2.1094,30.8204,52.7716,32.6682,34.9593,39.6157,18.034,61.8625,36.4375,31.2639,51.0604,68.3524,89.8021,97.5054,70.7769],"stroke":"#10243b","width":2.0},{"label":"From high","values":[null,null,null,null,null,null,null,-8.6924,-6.1393,-2.2137,-4.1913,-7.2757,-5.977,-10.6848,-15.2745,-8.0874,-8.2202,-5.9327,-14.3595,-13.961,-14.8318,-19.2887,-13.8135,-9.4303,-13.4445,-12.987,-12.0573,-16.3666,-7.6151,-12.6919,-13.7249,-9.0239,-5.8355,-1.989,-0.5127,-6.0064],"stroke":"#c13f3f","width":1.5},{"label":"From low","values":[null,null,null,null,null,null,null,10.9179,14.0194,18.7881,16.3858,12.6389,14.2166,8.4977,2.9222,11.6529,11.4916,14.2704,4.0337,4.5178,3.46,-0.4913,7.6895,13.1661,8.1505,8.7221,9.8838,4.4994,15.4343,9.0909,7.8001,11.5434,15.4527,21.7592,25.2259,18.3109],"stroke":"#07865c","width":1.5}],"guides":[{"label":"Range centre","values":[50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0],"stroke":"#8fa0af","width":1.0,"dash":[6,5]}],"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":"directional","eyebrow":"Trend quality","title":"Directional strength and control","description":"Directional pressure shows which side controls the tape while strength remains direction-neutral.","reason":"Selected because directional control or trend strength is materially changing.","series":[{"label":"Trend strength","values":[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,11.343,12.4789,11.6532,11.4467,11.5287,10.9983,10.655,11.27,12.0209,12.1391],"stroke":"#10243b","width":2.0},{"label":"Positive direction","values":[null,null,null,null,null,null,null,null,null,null,null,null,null,17.7996,15.9373,17.1109,18.1336,19.8626,17.3714,16.8866,22.932,21.1323,19.0114,25.9138,23.5596,22.9214,23.6035,21.5553,32.8636,29.9972,29.0045,32.3459,37.0098,42.7602,42.5627,38.4097],"stroke":"#07865c","width":1.6},{"label":"Negative direction","values":[null,null,null,null,null,null,null,null,null,null,null,null,null,15.6245,25.6471,22.0964,20.5802,18.9936,23.8218,26.9312,24.8015,31.4093,30.1071,27.7375,33.8346,32.9182,31.7793,37.6992,32.2646,35.7591,37.3625,35.1137,32.6931,28.9462,27.3371,29.1676],"stroke":"#c13f3f","width":1.6}],"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"]}]},"canonical_url":"https://sharemaestro.com/terminal/80ee5903-523d-4a0e-9359-9748235eddee/technical-pack/","technicals_url":"https://sharemaestro.com/terminal/80ee5903-523d-4a0e-9359-9748235eddee/technicals/","canonical_technicals_url":"https://sharemaestro.com/terminal/80ee5903-523d-4a0e-9359-9748235eddee/technicals/","distributions":{"pdf":"https://sharemaestro.com/terminal/80ee5903-523d-4a0e-9359-9748235eddee/technical-pack/download.pdf","json":"https://sharemaestro.com/terminal/80ee5903-523d-4a0e-9359-9748235eddee/technical-pack/data.json"},"source_fingerprint":"0516b7e5c2446223ed967cc0d5d6c590b4d7d46b3152a03756088dadc1dd4921","content_hash":"c10dca5da05631303acebdc85c6e0baed3dd3f942dc2bd3b856f64e6bac73141","citation":"Sharemaestro, XDEF Technical Research Pack, completed week 2026-08-21, https://sharemaestro.com/terminal/80ee5903-523d-4a0e-9359-9748235eddee/technical-pack/","data_notes":{"time_series":"Parallel time-series arrays align by index with their dates array.","events":"Sparse chart markers are published as compact dated event records rather than null-filled arrays.","missing_values":"A remaining null in an aligned series means that observation is genuinely unavailable; zero remains a valid value."},"boundary":"Completed market observations and published proprietary outputs only. Market Dynamics construction and private inputs are not disclosed. Historical research is not a forecast or instruction to trade."}