{"schema_version":"1.0","name":"FUSE Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"8bf1e255-ad7a-4926-ac8b-e8fe8b6542a0","symbol":"FUSE","name":"Fusemachines Inc. Common stock","exchange":"NASDAQ","country":"US","asset_type":"equity","currency":"USD","sector":"Technology","industry":"Software - Application"},"summary":"Price structure and the underlying tape currently reinforce the same downside read.","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, Drawdown and recovery pressure, Activity pressure and cumulative balance, Range pressure and compression, Range position and boundary pressure, Acceleration, deceleration and rollover."},{"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":44,"displayedObservations":44,"assetType":"Equity","state":"Aligned downward","stateTone":"negative","summary":"Price structure and the underlying tape currently reinforce the same downside read.","evidenceAlignment":{"status":"Evidence aligned downward","headline":"Downward price structure is confirmed by Market Dynamics","summary":"Price structure and the underlying tape currently reinforce the same downside read.","take":"The downside state remains confirmed until Market Dynamics repairs or price structure changes.","tone":"negative","conflict":false},"marketDynamics":{"available":true,"readAvailable":true,"dates":["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"],"values":[0.330171,0.417405,0.385038,0.359572,0.279264,0.155527,0.018957,-0.168353,-0.336126,-0.436382,-0.623014,-0.744901,-0.852023,-0.91766,-0.906119,-0.915116],"opens":[1.69,1.48,1.77,1.42,1.29,1.3,1.21,1.16,1.11,1.03,1.02,0.96,0.97,0.849,0.813,0.84],"highs":[1.728,1.72,1.83,1.48,1.415,1.335,1.2534,1.16,1.14,1.0456,1.03,0.9885,0.97,1.84,0.8899,0.8497],"lows":[1.4901,1.34,1.26,1.36,1.16,1.13,1.12,0.91,1.02,0.96,0.91,0.869,0.7508,0.79621,0.7844,0.762],"closes":[1.51,1.62,1.41,1.43,1.28,1.19,1.15,1.09,1.04,0.985,0.9201,0.8808,0.784,0.8554,0.8454,0.7713],"hoverRows":[[{"label":"Open","value":"1.69","className":"is-ohlc","compact":true},{"label":"High","value":"1.73","className":"is-ohlc","compact":true},{"label":"Low","value":"1.49","className":"is-ohlc","compact":true},{"label":"Close","value":"1.51","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.33","note":"Supportive and strengthening","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"1.48","className":"is-ohlc","compact":true},{"label":"High","value":"1.72","className":"is-ohlc","compact":true},{"label":"Low","value":"1.34","className":"is-ohlc","compact":true},{"label":"Close","value":"1.62","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.42","note":"Supportive and strengthening","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"1.77","className":"is-ohlc","compact":true},{"label":"High","value":"1.83","className":"is-ohlc","compact":true},{"label":"Low","value":"1.26","className":"is-ohlc","compact":true},{"label":"Close","value":"1.41","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.39","note":"Supportive but easing","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"1.42","className":"is-ohlc","compact":true},{"label":"High","value":"1.48","className":"is-ohlc","compact":true},{"label":"Low","value":"1.36","className":"is-ohlc","compact":true},{"label":"Close","value":"1.43","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.36","note":"Supportive but easing","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"1.29","className":"is-ohlc","compact":true},{"label":"High","value":"1.42","className":"is-ohlc","compact":true},{"label":"Low","value":"1.16","className":"is-ohlc","compact":true},{"label":"Close","value":"1.28","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.28","note":"Supportive but easing","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"1.30","className":"is-ohlc","compact":true},{"label":"High","value":"1.33","className":"is-ohlc","compact":true},{"label":"Low","value":"1.13","className":"is-ohlc","compact":true},{"label":"Close","value":"1.19","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.16","note":"Supportive but easing","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"1.21","className":"is-ohlc","compact":true},{"label":"High","value":"1.25","className":"is-ohlc","compact":true},{"label":"Low","value":"1.12","className":"is-ohlc","compact":true},{"label":"Close","value":"1.15","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.02","note":"Supportive but easing","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"1.16","className":"is-ohlc","compact":true},{"label":"High","value":"1.16","className":"is-ohlc","compact":true},{"label":"Low","value":"0.91","className":"is-ohlc","compact":true},{"label":"Close","value":"1.09","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.17","note":"Cautious and weakening","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"1.11","className":"is-ohlc","compact":true},{"label":"High","value":"1.14","className":"is-ohlc","compact":true},{"label":"Low","value":"1.02","className":"is-ohlc","compact":true},{"label":"Close","value":"1.04","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.34","note":"Cautious and weakening","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"1.03","className":"is-ohlc","compact":true},{"label":"High","value":"1.05","className":"is-ohlc","compact":true},{"label":"Low","value":"0.96","className":"is-ohlc","compact":true},{"label":"Close","value":"0.98","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.44","note":"Cautious and weakening","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"1.02","className":"is-ohlc","compact":true},{"label":"High","value":"1.03","className":"is-ohlc","compact":true},{"label":"Low","value":"0.91","className":"is-ohlc","compact":true},{"label":"Close","value":"0.92","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.62","note":"Cautious and weakening","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"0.96","className":"is-ohlc","compact":true},{"label":"High","value":"0.99","className":"is-ohlc","compact":true},{"label":"Low","value":"0.87","className":"is-ohlc","compact":true},{"label":"Close","value":"0.88","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.74","note":"Cautious and weakening","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"0.97","className":"is-ohlc","compact":true},{"label":"High","value":"0.97","className":"is-ohlc","compact":true},{"label":"Low","value":"0.75","className":"is-ohlc","compact":true},{"label":"Close","value":"0.78","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.85","note":"Cautious and weakening","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"0.85","className":"is-ohlc","compact":true},{"label":"High","value":"1.84","className":"is-ohlc","compact":true},{"label":"Low","value":"0.80","className":"is-ohlc","compact":true},{"label":"Close","value":"0.86","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.92","note":"Cautious and weakening","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"0.81","className":"is-ohlc","compact":true},{"label":"High","value":"0.89","className":"is-ohlc","compact":true},{"label":"Low","value":"0.78","className":"is-ohlc","compact":true},{"label":"Close","value":"0.85","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.91","note":"Cautious but repairing","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"0.84","className":"is-ohlc","compact":true},{"label":"High","value":"0.85","className":"is-ohlc","compact":true},{"label":"Low","value":"0.76","className":"is-ohlc","compact":true},{"label":"Close","value":"0.77","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.92","note":"Cautious and weakening","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}]],"pressureRange":[-2.3,2.3],"priceRange":[0.720378,1.670922],"zones":{"accumulationBoundary":-1.5,"accumulationDarkBoundary":-2.0,"distributionBoundary":1.5,"distributionDarkBoundary":2.0},"latest":-0.915116,"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":16,"summary":"More completed weekly history is needed for a dependable ticker-level record."},"events":{"positioning_recoveries":[],"reversal_warnings":[],"reversal_dangers":[]}},"smTape":{"available":true,"dates":["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":[2.73,2.7,1.8,1.83,1.67,1.83,1.78,2.06,2.07,1.91,1.7,1.79,1.67,1.66,1.58,1.98,1.61,1.38,1.37,1.46,1.33,1.42,1.18,0.9336,1.83,1.83,1.87,1.7,1.51,1.62,1.41,1.43,1.28,1.19,1.15,1.09,1.04,0.985,0.9201,0.8808,0.784,0.8554,0.8454,0.7713],"consensus":[-100.0,-22.2222,-90.2439,0.0,-40.6782,-15.2166,-12.6113,0.0,0.0,-11.8942,-19.0126,0.0,-27.3458,-18.0913,-21.774,12.1931,-30.5386,-30.6682,-10.3552,0.0,-26.1929,9.3283,-35.4539,-42.1541,49.4318,14.0868,23.3107,0.0,-24.826,8.3416,-29.052,0.0,-19.4324,-27.7673,-25.8032,-19.8461,-29.7775,-27.8283,-36.5478,-34.0835,-40.151,-12.2502,-12.8063,-32.2643],"supportDates":["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":[null,null,null,null,null,-7.8667,-14.6585,0.0,0.0,-16.8889,-20.3731,0.0,-31.1839,-20.0368,-27.6054,0.9558,-33.7617,-35.9673,-8.3344,0.0,-33.0622,15.1971,-45.6503,-39.9904,43.7448,9.4178,18.4424,0.0,-28.4506,13.963,-26.4413,0.0,-20.1134,-29.364,-30.1471,-14.2412,-35.6002,-32.2579,-43.5731,-41.4163,-46.2778,-11.6192,-11.9891,-40.2712],"force":[-100.0,-22.2222,-90.2439,0.0,-18.5566,-2.5464,-3.2289,0.0,0.0,-9.3473,-17.1312,0.0,-22.6429,-9.8318,-14.368,33.8476,-53.4188,-33.9318,-0.288,0.0,-21.0964,24.8006,-35.0237,-50.1393,87.9735,5.1992,19.3651,0.0,-36.6544,15.7391,-44.9701,0.0,-15.382,-20.9641,-15.8818,-11.5025,-18.708,-15.076,-27.241,-20.6511,-30.1895,-4.8762,-1.5732,-27.0495],"direction":[null,null,null,null,-56.4793,-32.6667,-16.9734,0.0,0.0,-8.0052,-18.8017,0.0,-26.3185,-21.7676,-20.3997,9.5682,-10.512,-22.2809,-20.2669,0.0,-21.9828,8.4305,-24.1081,-38.9233,28.4013,25.771,31.6928,0.0,-12.2346,3.3667,-20.6655,0.0,-21.5472,-30.802,-27.9254,-32.2114,-31.0297,-31.8747,-35.1665,-35.2978,-40.2642,-25.2045,-21.7639,-26.8386],"intensity":[null,null,null,null,25.0,40.0,16.6667,57.1429,50.0,22.2222,60.0,18.1818,58.3333,30.7692,35.7143,100.0,93.75,70.5882,55.5556,10.5263,15.0,4.7619,63.6364,69.5652,83.3333,76.0,57.6923,48.1481,53.5714,20.6897,56.6667,67.7419,50.0,6.0606,2.9412,57.1429,16.6667,10.8108,2.6316,2.5641,25.0,87.8049,92.8571,6.9767],"confirmation":[54.6667,29.7778,51.5447,1.856,57.3391,27.2618,49.0518,25.3293,24.3047,71.6524,74.006,25.9102,76.5488,73.5079,74.6531,50.0663,78.4205,77.8325,48.4149,26.0891,76.1217,27.8323,79.1768,81.7657,85.0794,49.6414,75.4134,28.0236,76.2496,48.8607,77.8215,24.736,74.0845,76.6539,75.8885,74.1819,77.1027,76.4489,79.3046,78.3856,80.4514,49.7813,49.1015,86.0437],"persistence":[null,null,100.0,75.0,80.0,83.3333,85.7143,75.0,62.5,62.5,62.5,62.5,62.5,62.5,62.5,50.0,62.5,62.5,62.5,62.5,62.5,37.5,37.5,62.5,37.5,12.5,12.5,12.5,12.5,12.5,12.5,25.0,0.0,25.0,50.0,62.5,62.5,87.5,87.5,100.0,100.0,100.0,100.0,100.0],"assessmentRisk":[null,null,null,null,29.322,41.4418,3.4122,25.0803,39.3419,18.367,3.4675,34.7431,30.882,27.3827,10.0023,33.8914,0.7572,28.52,34.0443,46.8863,32.4651,5.932,20.2767,28.4951,21.1017,35.9376,37.0681,48.9656,26.7875,35.2123,31.5392,33.3061,23.3252,31.2855,23.0483,31.9446,20.464,34.9488,31.1291,32.245,29.7495,39.9657,33.6145,32.3195],"volumeParticipation":true,"latest":{"consensus":-32.3,"control":-40.3,"force":-27.0,"direction":-26.8,"confirmation":86.0,"persistence":100.0,"assessmentRisk":32.3,"intensity":7.0,"evidenceDepth":100},"analysis":{"status":"Joint downward confirmation","headline":"The gauges support the downward market view","summary":"Price structure and Market Dynamics agree. Control, force and direction support the same downward assessment.","take":"Current assessment: downward pressure has broad support.","tone":"negative","supportedView":"Price structure and 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":"Established","confirmationState":"Strong support","riskState":"Contained","intensityState":"Quiet"},"cards":[{"label":"SM Consensus Gauge","value":"-32.3","detail":"Joint downward confirmation","tone":"negative"},{"label":"SM Control Gauge","value":"-40.3","detail":"Seller control supports the view","tone":"negative"},{"label":"SM Force Gauge","value":"-27.0","detail":"Downward commitment","tone":"negative"},{"label":"SM Direction Gauge","value":"-26.8","detail":"Downward follow-through","tone":"negative"},{"label":"SM Confirmation Gauge","value":"86/100","detail":"Strong support","tone":"positive"}]},"kpis":[{"label":"Price structure","value":"Aligned downward","detail":"completed-week alignment","tone":"negative"},{"label":"Momentum","value":"31.6","detail":"Negative","tone":"negative"},{"label":"Risk pressure","value":"48.0%","detail":"Normal","tone":"neutral"},{"label":"Trend quality","value":"19.8","detail":"Range-led","tone":"neutral"},{"label":"Range position","value":"1%","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 downward.","series":[{"label":"Close","values":[2.73,2.7,1.8,1.83,1.67,1.83,1.78,2.06,2.07,1.91,1.7,1.79,1.67,1.66,1.58,1.98,1.61,1.38,1.37,1.46,1.33,1.42,1.18,0.9336,1.83,1.83,1.87,1.7,1.51,1.62,1.41,1.43,1.28,1.19,1.15,1.09,1.04,0.985,0.9201,0.8808,0.784,0.8554,0.8454,0.7713],"stroke":"#10243b","width":2.1},{"label":"Fast trend","values":[null,null,null,null,2.2872,2.2041,2.127,2.1148,2.1067,2.0709,2.0035,1.9647,1.9111,1.8654,1.8135,1.8438,1.8013,1.7247,1.6602,1.6238,1.5704,1.543,1.477,1.3782,1.4604,1.5276,1.5898,1.6099,1.5917,1.5969,1.5629,1.5387,1.4917,1.4368,1.3847,1.3311,1.2782,1.2249,1.1695,1.117,1.0564,1.0199,0.9882,0.9487],"stroke":"#176fa3","width":1.7},{"label":"Slow trend","values":[null,null,null,null,null,null,null,null,null,null,null,null,2.2118,2.1709,2.1271,2.1162,2.0787,2.027,1.9783,1.9399,1.8947,1.8596,1.8092,1.7444,1.7507,1.7566,1.765,1.7602,1.7416,1.7326,1.7087,1.6881,1.6579,1.6232,1.5882,1.5513,1.5134,1.4742,1.4332,1.3923,1.3472,1.3108,1.2763,1.2389],"stroke":"#07865c","width":1.8},{"label":"Upper envelope","values":[null,null,null,null,null,null,null,null,null,2.7536,2.7167,2.6789,2.6488,2.6206,2.598,2.5809,2.5596,2.5557,2.5483,2.5319,2.3606,2.1325,2.1522,2.195,2.21,2.21,2.2205,2.1701,2.1024,2.0665,2.0531,2.0259,2.015,2.0069,2.0052,1.9321,1.9237,1.9346,1.9476,1.9519,1.9686,1.9655,1.9729,1.9827],"stroke":"#98a9b8","width":1.0,"dash":[6,5]},{"label":"Lower envelope","values":[null,null,null,null,null,null,null,null,null,1.3224,1.2979,1.2994,1.2804,1.2652,1.2394,1.2641,1.2487,1.1943,1.1485,1.1261,1.1574,1.2575,1.1758,1.0434,1.0444,1.0444,1.0429,1.0572,1.069,1.0758,1.0603,1.0514,1.0234,0.9845,0.9432,0.9273,0.8787,0.8283,0.7703,0.708,0.6367,0.5834,0.5426,0.5165],"stroke":"#98a9b8","width":1.0,"dash":[6,5]}],"guides":[],"dates":["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"]},{"key":"drawdown","eyebrow":"Path risk","title":"Drawdown and recovery pressure","description":"Capital impairment and recovery are shown together so return is not separated from path difficulty.","reason":"Selected because the current recovery or drawdown path is central to the tape.","series":[{"label":"Drawdown","values":[0.0,-1.0989,-34.0659,-32.967,-38.8278,-32.967,-34.7985,-24.5421,-24.1758,-30.0366,-37.7289,-34.4322,-38.8278,-39.1941,-42.1245,-27.4725,-41.0256,-49.4505,-49.8168,-46.5201,-51.2821,-47.9853,-56.7766,-65.8022,-32.967,-32.967,-31.5018,-37.7289,-44.6886,-40.6593,-48.3516,-47.619,-53.1136,-56.4103,-57.8755,-60.0733,-61.9048,-63.9194,-66.2967,-67.7363,-71.2821,-68.6667,-69.033,-71.7473],"stroke":"#c13f3f","width":1.9,"fill":"rgba(193,63,63,.10)"},{"label":"Recovery","values":[null,null,null,null,null,null,null,23.3533,23.9521,14.3713,1.7964,7.1856,0.0,0.0,0.0,25.3165,1.8987,0.0,0.0,6.5693,0.0,6.7669,0.0,0.0,96.0154,96.0154,100.2999,82.0908,61.7395,73.5219,51.0283,53.1705,37.1037,27.4636,23.1791,16.7524,11.3967,5.5056,0.0,0.0,0.0,9.1071,7.8316,0.0],"stroke":"#07865c","width":1.7}],"guides":[{"label":"Prior high","values":[0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0],"stroke":"#8fa0af","width":1.0,"dash":[6,5]}],"dates":["2025-10-24","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"]},{"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,58.6533,84.2753,16.9768,53.8933,22.9007,27.1813,19.8058,18.9802,1523.0952,7.6453,5.6033,3.3083,3.5301,1.5421,5.833,1.9849,6.2201,707.7654,97.28,11.13,4.0045,3.3283,3.6197,5.4606,1.1682,1.6295,1.3379,1.0802,10.5964,2.5246,1.4073,7.087,1.4627,3.0698,722.944,12.6712,6.5207],"stroke":"#1678a7","width":1.8},{"label":"Cumulative balance","values":[null,null,null,null,null,null,null,71.7109,78.5838,77.3162,73.4696,74.9971,73.2878,72.1147,71.052,135.0,134.831,134.7136,134.6478,134.7146,134.6857,134.7937,134.7571,134.6423,135.0,135.0,135.0,134.9234,134.8599,134.9291,134.8245,134.8469,134.8157,134.79,134.7693,134.6855,134.6657,134.6546,134.5991,134.5876,134.5636,135.0,134.8746,134.81],"stroke":"#07865c","width":1.7}],"guides":[{"label":"Typical activity","values":[100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0],"stroke":"#8fa0af","width":1.0,"dash":[6,5]}],"dates":["2025-10-24","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"]},{"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,51.8782,51.4255,45.645,54.6984,60.8275,58.0764,52.1204,53.9332,47.7115,54.858,67.5971,36.7452,37.0089,35.12,37.2592,40.0765,36.3625,41.6816,38.7624,41.7184,42.8988,42.0487,42.8328,42.5097,42.2981,42.9788,42.6586,46.4995,48.392,46.3583,47.9948],"stroke":"#c13f3f","width":1.9},{"label":"Envelope width","values":[null,null,null,null,null,null,null,null,null,70.2244,70.6851,69.3513,69.6501,69.7636,70.8084,68.4929,68.8446,72.6109,75.7298,76.8592,68.3981,51.6189,58.6824,71.1203,71.6318,71.6318,72.1708,68.9658,65.1731,63.0524,63.774,63.3341,65.2737,68.3571,72.0393,70.2782,74.5792,80.0858,86.6337,93.5292,102.241,108.4458,113.7233,117.3402],"stroke":"#b87806","width":1.7}],"guides":[],"dates":["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"]},{"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,17.3585,17.7358,11.6981,8.9286,12.1429,7.8571,7.5,4.6429,18.9286,5.7143,1.493,4.7934,7.7686,3.4711,6.4463,0.0,3.705,29.8551,29.8551,37.2822,31.3589,24.7387,28.5714,21.2544,21.9512,16.7247,13.5889,12.1951,10.1045,8.3624,6.446,4.1847,2.8153,1.1373,6.9308,6.2682,1.3583],"stroke":"#10243b","width":2.0},{"label":"From high","values":[null,null,null,null,null,null,null,-51.5294,-51.2941,-55.0588,-60.0,-57.8824,-60.7059,-60.9412,-62.8235,-53.4118,-62.1176,-67.5294,-67.7647,-65.6471,-68.7059,-66.5882,-72.2353,-78.0329,-56.9412,-56.9412,-49.0463,-53.6785,-58.8556,-55.8583,-61.5804,-61.0354,-65.1226,-67.5749,-68.6649,-70.2997,-71.6621,-73.1608,-74.9292,-76.0,-78.6376,-62.1504,-62.5929,-65.8717],"stroke":"#c13f3f","width":1.5},{"label":"From low","values":[null,null,null,null,null,null,null,28.75,29.375,19.375,17.2414,23.4483,15.1724,14.4828,8.9655,36.5517,11.0345,3.2548,11.8367,19.1837,8.5714,15.9184,0.0,15.8311,128.75,128.75,133.75,112.5,88.75,102.5,76.25,78.75,60.0,48.75,43.75,36.25,30.0,23.125,15.0125,10.1,4.4219,13.9318,12.5999,2.7304],"stroke":"#07865c","width":1.5}],"guides":[{"label":"Range centre","values":[50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0],"stroke":"#8fa0af","width":1.0,"dash":[6,5]}],"dates":["2025-10-24","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"]},{"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,-0.2518,-0.2571,-0.2647,-0.2357,-0.2398,-0.2587,-0.2713,-0.2709,-0.2779,-0.273,-0.2852,-0.3112,-0.2565,-0.2107,-0.1692,-0.1484,-0.1455,-0.1328,-0.1381,-0.1391,-0.1503,-0.1645,-0.1769,-0.1894,-0.2011,-0.2123,-0.2238,-0.2335,-0.2461,-0.2474,-0.2465,-0.2489],"stroke":"#1678a7","width":2.0},{"label":"Signal","values":[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,-0.249,-0.251,-0.255,-0.2582,-0.2621,-0.2643,-0.2685,-0.277,-0.2729,-0.2605,-0.2422,-0.2235,-0.2079,-0.1929,-0.1819,-0.1734,-0.1687,-0.1679,-0.1697,-0.1736,-0.1791,-0.1858,-0.1934,-0.2014,-0.2103,-0.2178,-0.2235,-0.2286],"stroke":"#b87806","width":1.7},{"label":"Expansion","values":[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,0.0092,-0.0077,-0.0163,-0.0127,-0.0157,-0.0087,-0.0167,-0.0342,0.0164,0.0498,0.073,0.0751,0.0624,0.06,0.0438,0.0342,0.0185,0.0034,-0.0072,-0.0158,-0.022,-0.0265,-0.0305,-0.0321,-0.0357,-0.0297,-0.023,-0.0203],"stroke":"#07865c","width":1.0,"fill":"rgba(7,134,92,.12)"}],"guides":[{"label":"Neutral","values":[0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0],"stroke":"#8fa0af","width":1.0,"dash":[6,5]}],"dates":["2025-10-24","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"]}]},"canonical_url":"https://sharemaestro.com/terminal/8bf1e255-ad7a-4926-ac8b-e8fe8b6542a0/technical-pack/","technicals_url":"https://sharemaestro.com/terminal/8bf1e255-ad7a-4926-ac8b-e8fe8b6542a0/technicals/","canonical_technicals_url":"https://sharemaestro.com/terminal/8bf1e255-ad7a-4926-ac8b-e8fe8b6542a0/technicals/","distributions":{"pdf":"https://sharemaestro.com/terminal/8bf1e255-ad7a-4926-ac8b-e8fe8b6542a0/technical-pack/download.pdf","json":"https://sharemaestro.com/terminal/8bf1e255-ad7a-4926-ac8b-e8fe8b6542a0/technical-pack/data.json"},"source_fingerprint":"db2b8f89b3ddc5951b62d29c4e6600827549168b25c07e51bf815ea89c0beac3","content_hash":"3491a593a0ea7fe484f5bb28fa4e5eb6eb5f1af927bb62315a16d0a7423ff653","citation":"Sharemaestro, FUSE Technical Research Pack, completed week 2026-08-21, https://sharemaestro.com/terminal/8bf1e255-ad7a-4926-ac8b-e8fe8b6542a0/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."}