{"schema_version":"1.0","name":"466A Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"8e745d62-d5cd-44cc-a01a-267945c581be","symbol":"466A","name":"Global X Defense Tech ETF","exchange":"JPX","country":"JP","asset_type":"etf","currency":"JPY","sector":null,"industry":null},"summary":"Market Dynamics improved this week but remains below zero. Underlying support has strengthened across the recent completed path. Price has not yet established a clear direction.","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, Drawdown and recovery pressure, Range pressure and compression, Activity pressure and cumulative balance, 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":40,"displayedObservations":40,"assetType":"ETF","state":"Rotational","stateTone":"caution","summary":"Market Dynamics improved this week but remains below zero. Underlying support has strengthened across the recent completed path. Price has not yet established a clear direction.","evidenceAlignment":{"status":"Repair in progress","headline":"Market Dynamics is improving while price remains rotational","summary":"Market Dynamics improved this week but remains below zero. Underlying support has strengthened across the recent completed path. Price has not yet established a clear direction.","take":"Treat the repair as constructive context until price confirms it.","tone":"caution","conflict":true},"marketDynamics":{"available":true,"readAvailable":true,"dates":["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":[-0.760033,-1.068093,-1.135992,-1.257242,-1.182231,-1.187047,-1.175899,-0.96661,-0.855007,-0.561234,-0.22483,-0.064631],"opens":[1073.973215,1083.0,1050.0,990.0,1064.0,1040.0,1020.0,1019.0,1078.0,1040.0,1125.0,1172.0],"highs":[1073.973215,1089.0,1052.0,990.0,1073.0,1042.0,1020.0,1079.0,1094.0,1121.0,1169.0,1177.0],"lows":[1057.988498,1075.0,1035.0,970.0,1060.0,1032.0,1004.0,1006.0,1033.0,1028.0,1125.0,1110.0],"closes":[1064.981812,1084.0,1036.0,970.0,1069.0,1032.0,1012.0,1077.0,1039.0,1121.0,1164.0,1110.0],"hoverRows":[[{"label":"Open","value":"1,074","className":"is-ohlc","compact":true},{"label":"High","value":"1,074","className":"is-ohlc","compact":true},{"label":"Low","value":"1,058","className":"is-ohlc","compact":true},{"label":"Close","value":"1,065","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.76","note":"Cautious and weakening","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"1,083","className":"is-ohlc","compact":true},{"label":"High","value":"1,089","className":"is-ohlc","compact":true},{"label":"Low","value":"1,075","className":"is-ohlc","compact":true},{"label":"Close","value":"1,084","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-1.07","note":"Cautious and weakening","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"1,050","className":"is-ohlc","compact":true},{"label":"High","value":"1,052","className":"is-ohlc","compact":true},{"label":"Low","value":"1,035","className":"is-ohlc","compact":true},{"label":"Close","value":"1,036","className":"is-ohlc","compact":true},{"label":"Market 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Dynamics","value":"-1.18","note":"Cautious but repairing","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"1,019","className":"is-ohlc","compact":true},{"label":"High","value":"1,079","className":"is-ohlc","compact":true},{"label":"Low","value":"1,006","className":"is-ohlc","compact":true},{"label":"Close","value":"1,077","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.97","note":"Cautious but repairing","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"1,078","className":"is-ohlc","compact":true},{"label":"High","value":"1,094","className":"is-ohlc","compact":true},{"label":"Low","value":"1,033","className":"is-ohlc","compact":true},{"label":"Close","value":"1,039","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.86","note":"Cautious but repairing","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"1,040","className":"is-ohlc","compact":true},{"label":"High","value":"1,121","className":"is-ohlc","compact":true},{"label":"Low","value":"1,028","className":"is-ohlc","compact":true},{"label":"Close","value":"1,121","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.56","note":"Cautious but repairing","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"1,125","className":"is-ohlc","compact":true},{"label":"High","value":"1,169","className":"is-ohlc","compact":true},{"label":"Low","value":"1,125","className":"is-ohlc","compact":true},{"label":"Close","value":"1,164","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.22","note":"Cautious but repairing","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"1,172","className":"is-ohlc","compact":true},{"label":"High","value":"1,177","className":"is-ohlc","compact":true},{"label":"Low","value":"1,110","className":"is-ohlc","compact":true},{"label":"Close","value":"1,110","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.06","note":"Cautious but repairing","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}]],"pressureRange":[-2.3,2.3],"priceRange":[958.36,1175.64],"zones":{"accumulationBoundary":-1.5,"accumulationDarkBoundary":-2.0,"distributionBoundary":1.5,"distributionDarkBoundary":2.0},"latest":-0.064631,"state":"Negative but repairing over four weeks","context":{"scenario":"negativeRepair","latestDirection":"strengthening","fourWeekDirection":"strengthening","now":{"label":"Stronger this week","detail":"Market Dynamics improved this week but remains below zero."},"fourWeek":{"label":"Strengthened over four weeks","detail":"Underlying support has strengthened 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":"Underlying pressure is repairing","detail":"Market Dynamics remains below zero, but it has improved across the recent completed path. This is an early repair watch until price confirms it.","tone":"caution"},"chartSummary":"Price is between the outer positioning zones. The Market Dynamics bars show whether underlying support is strengthening or weakening.","summary":"Market Dynamics remains below zero, but it has improved across the recent completed path. This is an early repair watch until price confirms it.","annotations":[{"label":"Current tape relationship","value":"Underlying pressure is repairing","detail":"Market Dynamics improved this week but remains below zero.","tone":"caution"},{"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":"Repairing","detail":"Underlying support has strengthened across the recent completed path.","tone":"positive"}],"relationshipEvidence":{"available":false,"observations":12,"summary":"More completed weekly history is needed for a dependable ticker-level record."},"events":{"positioning_recoveries":[],"reversal_warnings":[],"reversal_dangers":[]}},"smTape":{"available":true,"dates":["2025-11-21","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":[999.0449,1025.02,1024.021,1059.9867,1039.0067,1083.9637,1068.978,1255.7994,1293.7632,1252.8022,1221.8319,1200.8519,1129.9198,1237.8166,1210.8424,1248.8062,1250.8042,1254.8004,1198.8539,1213.8396,1229.8242,1209.8434,1158.8921,1118.9303,1075.9713,1052.9933,1072.9742,1121.9274,1064.9818,1084.0,1036.0,970.0,1069.0,1032.0,1012.0,1077.0,1039.0,1121.0,1164.0,1110.0],"consensus":[0.0,-84.105,99.9999,96.0,37.5901,56.1657,18.5846,90.3118,69.963,0.0,15.8788,0.0,-48.7888,53.8889,0.0,47.2548,28.8191,21.8958,-22.2442,13.0027,0.0,-16.0774,-43.7412,-51.599,-62.4777,-54.8671,-16.5091,17.3818,-40.9518,0.0,-55.3484,-68.1826,10.5195,-48.3133,-33.3411,37.9186,-39.836,55.1483,58.1732,-16.2638],"supportDates":["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,54.6042,0.4383,86.2585,54.7376,0.0,3.0423,0.0,-40.4985,63.2497,0.0,38.0989,23.9982,23.3568,-27.2749,23.2188,0.0,-13.1908,-46.8134,-55.4607,-68.5642,-54.2936,-1.3116,24.7147,-47.7156,0.0,-66.1374,-78.1506,19.3228,-56.879,-35.018,38.3149,-39.878,53.9299,62.713,-28.1471],"force":[0.0,-84.105,99.9999,96.0,13.9943,34.5413,14.3371,99.8452,69.4792,0.0,45.3877,0.0,-80.59,64.5896,0.0,49.2012,9.0448,3.6537,-41.0889,19.7438,0.0,-26.2019,-49.6826,-41.4145,-52.1138,-39.9808,-18.8899,56.0844,-28.7132,0.0,-41.4312,-52.1018,34.7815,-38.4163,-16.8868,64.7821,-55.0894,77.6508,57.3017,-53.7471],"direction":[null,null,null,null,74.4362,73.3961,63.8406,88.1345,87.709,0.0,74.3108,0.0,-35.5483,35.5474,0.0,56.3283,48.4533,33.256,-3.0343,3.488,0.0,-12.1447,-35.9862,-54.4604,-62.9246,-66.1556,-59.1625,18.6435,-41.9636,0.0,-52.959,-68.2769,16.8714,-45.5933,-43.1778,18.2775,-28.8927,40.4676,53.6074,-24.0909],"intensity":[null,null,null,null,25.0,60.0,33.3333,71.4286,62.5,44.4444,60.0,54.5455,58.3333,69.2308,21.4286,46.6667,6.25,5.8824,55.5556,57.8947,75.0,14.2857,45.4545,69.5652,37.5,64.0,19.2308,44.4444,57.1429,10.3448,43.3333,70.9677,84.375,30.303,23.5294,68.5714,33.3333,81.0811,84.2105,48.7179],"confirmation":[0.0,49.5803,54.6666,53.3867,14.1489,85.3378,8.3857,97.2521,90.6054,39.7521,13.0923,6.637,84.7079,85.4279,28.876,83.3204,76.6929,51.7618,52.9491,50.2881,24.7762,73.4973,82.1314,84.1425,87.5843,85.1125,8.4655,33.2739,80.6285,4.8198,85.1229,89.1765,30.2374,83.0281,78.1421,80.9466,81.2117,86.3518,86.5197,33.9717],"persistence":[null,null,0.0,25.0,40.0,50.0,57.1429,62.5,75.0,87.5,87.5,75.0,50.0,50.0,37.5,37.5,37.5,50.0,25.0,37.5,50.0,25.0,12.5,12.5,37.5,62.5,62.5,62.5,75.0,62.5,62.5,62.5,37.5,37.5,37.5,37.5,37.5,25.0,0.0,0.0],"assessmentRisk":[null,null,null,null,28.4538,21.1187,37.9267,4.5889,14.9937,46.0166,41.3331,33.8791,25.0562,38.1313,11.9744,7.086,32.9689,1.6082,2.4332,30.1772,25.2845,30.3922,13.7079,22.7074,18.6338,22.4995,41.4689,4.173,4.3497,38.5831,11.7506,15.8891,0.977,16.1654,7.0377,29.6922,7.0398,18.9327,20.5553,34.4679],"volumeParticipation":true,"latest":{"consensus":-16.3,"control":-28.1,"force":-53.7,"direction":-24.1,"confirmation":34.0,"persistence":0.0,"assessmentRisk":34.5,"intensity":48.7,"evidenceDepth":100},"analysis":{"status":"Market Dynamics has stronger support","headline":"The gauges support the downward view","summary":"The completed evidence gives the downward view the clearer support.","take":"Current assessment: downward pressure has the stronger support.","tone":"negative","supportedView":"Market Dynamics","direction":"downward","disagreement":false},"support":{"window":"Latest 12 months","controlState":"Seller control supports the view","controlPath":"Control support is easing","forceState":"Downward commitment","forcePath":"Commitment is easing","directionState":"Downward follow-through","persistenceState":"Unsettled","confirmationState":"Limited support","riskState":"Contained","intensityState":"Normal"},"cards":[{"label":"SM Consensus Gauge","value":"-16.3","detail":"Market Dynamics has stronger support","tone":"negative"},{"label":"SM Control Gauge","value":"-28.1","detail":"Seller control supports the view","tone":"negative"},{"label":"SM Force Gauge","value":"-53.7","detail":"Downward commitment","tone":"negative"},{"label":"SM Direction Gauge","value":"-24.1","detail":"Downward follow-through","tone":"negative"},{"label":"SM Confirmation Gauge","value":"34/100","detail":"Limited support","tone":"caution"}]},"kpis":[{"label":"Price structure","value":"Rotational","detail":"completed-week alignment","tone":"caution"},{"label":"Momentum","value":"52.6","detail":"Positive","tone":"positive"},{"label":"Risk pressure","value":"5.3%","detail":"Elevated","tone":"caution"},{"label":"Trend quality","value":"19.5","detail":"Range-led","tone":"neutral"},{"label":"Range position","value":"45%","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 is rotating through its trend references.","series":[{"label":"Close","values":[999.0449,1025.02,1024.021,1059.9867,1039.0067,1083.9637,1068.978,1255.7994,1293.7632,1252.8022,1221.8319,1200.8519,1129.9198,1237.8166,1210.8424,1248.8062,1250.8042,1254.8004,1198.8539,1213.8396,1229.8242,1209.8434,1158.8921,1118.9303,1075.9713,1052.9933,1072.9742,1121.9274,1064.9818,1084.0,1036.0,970.0,1069.0,1032.0,1012.0,1077.0,1039.0,1121.0,1164.0,1110.0],"stroke":"#10243b","width":2.1},{"label":"Fast trend","values":[null,null,null,null,1021.003,1032.4504,1039.0918,1078.4932,1117.6332,1142.2094,1156.6862,1164.7163,1158.3897,1172.831,1179.7421,1192.2992,1202.9365,1212.3663,1209.9095,1210.6241,1214.115,1213.3383,1203.439,1188.0738,1167.6915,1146.8373,1133.4077,1131.3203,1119.2588,1112.8481,1098.8757,1075.4438,1074.2722,1066.5863,1056.6615,1060.3594,1056.4759,1068.2076,1085.6244,1090.0563],"stroke":"#176fa3","width":1.7},{"label":"Slow 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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,53.9682,57.2085,56.9435,59.1154,60.3027,60.8645,56.1481,53.0085,51.2197,47.6406,40.2291,30.7761,19.5922,8.7736,1.7915,0.2058,-5.5816,-8.5351,-14.5809,-24.4164,-23.9466,-26.2572,-29.3638,-26.2778,-26.5919,-19.9937,-11.1661,-8.4303],"stroke":"#1678a7","width":2.0},{"label":"Signal","values":[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,56.7713,57.5899,57.3016,56.443,55.3983,53.8468,51.1232,47.0538,41.5615,35.0039,28.3614,22.7303,17.0679,11.9473,6.6417,0.4301,-4.4453,-8.8077,-12.9189,-15.5907,-17.7909,-18.2315,-16.8184,-15.1408],"stroke":"#b87806","width":1.7},{"label":"Expansion","values":[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,3.5314,3.2746,-1.1535,-3.4345,-4.1786,-6.2062,-10.8941,-16.2777,-21.9693,-26.2303,-26.57,-22.5245,-22.6495,-20.4824,-21.2226,-24.8465,-19.5014,-17.4496,-16.4449,-10.6871,-8.801,-1.7622,5.6523,6.7105],"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],"stroke":"#8fa0af","width":1.0,"dash":[6,5]}],"dates":["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 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466A Technical Research Pack, completed week 2026-08-21, https://sharemaestro.com/terminal/8e745d62-d5cd-44cc-a01a-267945c581be/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."}