{"schema_version":"1.0","name":"9023 Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"8befd916-5100-4a35-a4fd-594529e86c22","symbol":"9023","name":"TOKYO METRO CO LTD","exchange":"JPX","country":"JP","asset_type":"equity","currency":"JPY","sector":"Industrials","industry":"Railroads"},"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, Strength versus the research benchmark, Acceleration, deceleration and rollover, Drawdown and recovery pressure, Directional strength and control, Activity pressure and cumulative balance."},{"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":96,"displayedObservations":96,"assetType":"Equity","state":"Rotational","stateTone":"caution","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":"Market Dynamics is improving before price has fully responded","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 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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":-7.7,"sample":3},"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 -7.7% across 3 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 2.0 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 1.2% across 3 completed cases, with the largest move arriving after 3.3 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":1469.0}],"reversal_warnings":[],"reversal_dangers":[]}},"smTape":{"available":true,"dates":["2024-10-25","2024-11-01","2024-11-08","2024-11-15","2024-11-22","2024-11-29","2024-12-06","2024-12-13","2024-12-20","2024-12-27","2025-01-03","2025-01-10","2025-01-17","2025-01-24","2025-01-31","2025-02-07","2025-02-14","2025-02-21","2025-02-28","2025-03-07","2025-03-14","2025-03-21","2025-03-28","2025-04-04","2025-04-11","2025-04-18","2025-04-25","2025-05-02","2025-05-09","2025-05-16","2025-05-23","2025-05-30","2025-06-06","2025-06-13","2025-06-20","2025-06-27","2025-07-04","2025-07-11","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":[1536.2819,1596.4346,1557.2875,1621.2594,1658.4968,1584.9769,1553.4684,1565.4033,1508.5924,1516.7083,1538.1914,1600.2538,1629.8527,1623.1691,1658.0194,1668.0449,1728.1976,1698.1212,1687.141,1664.2257,1755.8871,1887.1727,1814.1918,1800.5366,1913.6798,1974.6405,1919.532,1749.3296,1750.7926,1809.3149,1792.246,1773.7139,1670.3245,1653.7432,1653.7432,1635.6989,1611.3146,1596.684,1566.9351,1572.2996,1622.0436,1678.6151,1668.8615,1696.6595,1668.8615,1683.0044,1675.2013,1717.1423,1710.8024,1629.3591,1594.3138,1592.833,1593.3265,1598.7561,1606.6537,1584.4419,1599.7433,1584.9354,1588.3906,1561.2429,1540.0183,1584.4419,1574.0764,1579.5059,1627.8783,1627.3846,1631.3335,1662.9236,1693.033,1638.7374,1650.5837,1632.8142,1607.6409,1592.3394,1618.5,1668.5,1602.5,1602.5,1581.0,1544.0,1517.0,1543.0,1498.5,1462.0,1385.0,1348.0,1371.5,1386.5,1445.0,1439.5,1472.0,1435.0,1457.5,1469.0,1462.5,1480.0],"consensus":[-95.4286,16.8317,-62.3189,31.3333,44.6939,-17.2861,-16.8721,0.0,-35.2531,0.0,0.0,34.8516,39.8788,10.0648,37.565,32.5348,51.051,0.0,0.0,0.0,47.8722,71.7698,0.0,29.2082,63.1926,58.6705,0.0,-46.143,-19.1343,12.5517,-13.6917,-15.4507,-56.1269,-40.4683,-30.3408,-42.3247,-41.3566,-36.2538,-50.2489,-32.2436,16.1866,36.0293,9.0476,24.7901,0.0,9.133,0.0,38.6082,14.666,-48.895,-50.2352,-31.934,-35.2376,-17.455,0.0,-35.9132,9.3833,-27.5621,-8.4759,-40.7653,-45.0953,24.7959,-24.4044,0.0,52.5295,16.8956,23.7662,48.2654,51.9411,-19.9683,10.2302,-10.7123,-26.042,-34.6381,9.0932,46.6351,-36.8476,0.0,-35.0404,-44.7418,-48.7057,0.0,-61.1008,-62.2513,-54.2619,-49.9012,-16.115,-21.5475,0.0,-9.7696,14.5811,-25.7961,9.7063,20.3691,0.0,29.4344],"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":[0.0,10.3726,0.0,46.8602,12.0938,-52.9825,-51.0572,-29.8149,-35.8232,-16.6904,0.0,-42.9042,11.6073,-31.3875,-4.1103,-44.6555,-42.6259,27.3361,-29.8628,0.0,49.7864,10.4489,17.2264,44.6527,52.8673,-29.6772,1.9902,-6.5626,-18.8269,-40.3798,15.9129,48.6762,-45.4834,0.0,-37.3016,-36.4394,-52.3821,0.0,-66.0996,-65.3004,-52.1152,-45.0078,-2.755,-6.0659,0.0,-23.8449,6.268,-36.7605,4.2192,17.9671,0.0,26.6102],"force":[0.0,9.2337,0.0,44.6362,1.5916,-66.3949,-57.4226,-15.149,-20.9312,-0.743,0.0,-37.4542,36.8418,-25.7334,-4.7623,-43.7731,-46.4747,67.0563,-25.4454,0.0,74.903,4.3187,17.4268,53.2265,47.7038,-56.148,10.5178,-26.6253,-37.7424,-34.1981,26.5489,62.0104,-56.2973,0.0,-35.8423,-51.6594,-36.6805,0.0,-62.5674,-61.2369,-38.9356,-28.4566,-25.465,-10.208,0.0,-0.3862,18.7741,-41.6115,27.9433,31.2302,0.0,38.1982],"direction":[0.0,7.6444,0.0,24.8716,26.9447,-31.7236,-44.1621,-46.3451,-44.7872,-31.3274,0.0,-26.8228,12.7717,-24.4964,-22.9211,-34.1709,-46.9322,8.293,-17.4227,0.0,39.6833,33.2468,35.7683,48.8506,53.9092,-16.9701,23.9908,-4.0883,-25.9304,-28.3906,11.1693,33.3202,-13.0853,0.0,-31.8833,-49.289,-53.0936,0.0,-54.3403,-59.4912,-67.6627,-70.8113,-67.3806,-61.9234,0.0,-0.9378,21.0867,-1.9687,2.9508,15.3562,0.0,26.4021],"intens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Dynamics has stronger support","headline":"The gauges support the upward view","summary":"The completed evidence gives the upward view the clearer support.","take":"Current assessment: upward pressure has the stronger support.","tone":"positive","supportedView":"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":"Broadly stable","directionState":"Upward follow-through","persistenceState":"Unsettled","confirmationState":"Strong support","riskState":"Contained","intensityState":"Quiet"},"cards":[{"label":"SM Consensus Gauge","value":"+29.4","detail":"Market Dynamics has stronger support","tone":"positive"},{"label":"SM Control Gauge","value":"+26.6","detail":"Buyer control supports the view","tone":"positive"},{"label":"SM Force Gauge","value":"+38.2","detail":"Upward 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