{"schema_version":"1.0","name":"PFSI Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-14","ticker":{"uuid":"8ff14450-e3a1-4c6d-9d24-7877aec9d28f","symbol":"PFSI","name":"PennyMac Finl Svcs Inc","exchange":"NYSE","country":"US","asset_type":"equity","currency":"USD","sector":"Financial Services","industry":"Mortgage Finance"},"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 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elevated relative to Market Dynamics","kind":"structuralDivergence","expectedDirection":"lower","episodes":1,"completedEpisodes":1,"activeEpisodes":0,"medianExpectedMove":47.1,"averageExpectedMove":47.1,"averageWeeksToLargestMove":8.0,"horizons":[{"weeks":4,"sample":1,"expectedCount":1,"expectedPercent":100.0,"averageReturn":-42.1,"medianReturn":-42.1,"confidenceLow":20.7,"confidenceHigh":100.0,"confidence":"Mixed historical record"},{"weeks":12,"sample":1,"expectedCount":1,"expectedPercent":100.0,"averageReturn":-42.5,"medianReturn":-42.5,"confidenceLow":20.7,"confidenceHigh":100.0,"confidence":"Mixed historical record"},{"weeks":26,"sample":1,"expectedCount":1,"expectedPercent":100.0,"averageReturn":-46.2,"medianReturn":-46.2,"confidenceLow":20.7,"confidenceHigh":100.0,"confidence":"Mixed historical record"}],"path":[{"week":0,"sample":0},{"week":1,"averageReturn":-5.4,"sample":1},{"week":2,"averageReturn":-37.3,"sample":1},{"week":3,"averageReturn":-40.0,"sample":1},{"week":4,"averageReturn":-42.1,"sample":1},{"week":5,"averageReturn":-42.0,"sample":1},{"week":6,"averageReturn":-42.2,"sample":1},{"week":7,"averageReturn":-45.8,"sample":1},{"week":8,"averageReturn":-47.1,"sample":1},{"week":9,"averageReturn":-46.9,"sample":1},{"week":10,"averageReturn":-46.2,"sample":1},{"week":11,"averageReturn":-43.3,"sample":1},{"week":12,"averageReturn":-42.5,"sample":1},{"week":13,"averageReturn":-40.5,"sample":1},{"week":14,"averageReturn":-42.5,"sample":1},{"week":15,"averageReturn":-42.0,"sample":1},{"week":16,"averageReturn":-43.0,"sample":1},{"week":17,"averageReturn":-46.1,"sample":1},{"week":18,"averageReturn":-45.8,"sample":1},{"week":19,"averageReturn":-47.0,"sample":1},{"week":20,"averageReturn":-48.7,"sample":1},{"week":21,"averageReturn":-48.4,"sample":1},{"week":22,"averageReturn":-48.0,"sample":1},{"week":23,"averageReturn":-45.7,"sample":1},{"week":24,"averageReturn":-47.3,"sample":1},{"week":25,"averageReturn":-48.0,"sample":1},{"week":26,"averageReturn":-46.2,"sample":1}]},"currentApplication":{"status":"Evidence aligned downward","tone":"negative","headline":"Price and Market Dynamics remain aligned downward","use":"The downside remains supported until Market Dynamics repairs or price structure changes.","confirm":"The downside state remains confirmed until Market Dynamics repairs or price structure changes.","invalidate":"Reassess the reading when either price structure or the Market Dynamics state changes materially.","level":"negative","direction":"weakening","zone":"middle","zoneContext":"Price is between the accumulation and distribution zones. The Market Dynamics bars describe whether the current move is gaining or losing underlying support.","historical":{"label":"Broad directional cases","weeks":12,"direction":"lower","percent":35.0,"averageReturn":9.2,"sample":20},"nowContext":{"label":"Easier this week","detail":"Market Dynamics weakened this week and remains below zero."},"fourWeekContext":{"label":"Weakened over four weeks","detail":"Underlying support has contracted across the recent completed path."},"priceContext":{"label":"Price structure is downward","detail":"Price is responding in the same broad direction as Market Dynamics."}},"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":"Capital protection","title":"Treat agreement on the downside as a defensive condition","tone":"negative","approach":"Reduce the burden of proof for risk control and raise it for new long exposure. A short position still needs a defined entry, exit and maximum loss.","finding":"In this ticker's completed record, 35.0% of comparable cases moved lower after 12 weeks, with an average move of 9.2% across 20 cases.","watch":"Reassess the reading when either price structure or the Market Dynamics state changes materially."},{"eyebrow":"Zone positioning","title":"Use accumulation to prepare the long case, then wait for confirmation","tone":"positive","finding":"After accumulation, 100.0% of completed 12-week outcomes were higher across 2 cases. Distinct visits lasted 4.5 weeks on average before leaving the zone.","approach":"Build the thesis and entry conditions while price is in accumulation. Increase exposure only when price responds; location alone is not the entry.","watch":"A failed price response or renewed weakness removes the reason to increase long exposure."},{"eyebrow":"Disagreement playbook","title":"Use unsupported price strength to tighten discipline","tone":"caution","finding":"Comparable disagreements produced an average pullback of 9.1% across 20 completed cases, with the largest move arriving after 5.9 weeks on average.","approach":"Avoid adding simply because price is rising. Let improving Market Dynamics confirm the move, or let price reset before reassessing it.","watch":"The warning ends when Market Dynamics catches up or price gives way."}]},"summary":"This record compares the ticker's completed price path with its published Market Dynamics history."},"events":{"positioning_recoveries":[],"distribution_rollovers":[],"price_pressure_gaps":[{"date":"2026-01-16","price":158.39224}]}},"smTape":{"available":true,"dates":["2024-08-23","2024-08-30","2024-09-06","2024-09-13","2024-09-20","2024-09-27","2024-10-04","2024-10-11","2024-10-18","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"],"close":[100.2811,105.7755,104.4337,112.8664,109.4973,111.4561,104.4631,104.0812,107.0683,98.8022,97.3429,103.1018,100.3594,103.7474,105.2306,105.1717,102.5981,99.8576,100.2603,98.9637,94.514,105.7119,107.4211,102.8339,102.3034,100.2526,99.7502,102.1146,100.2132,95.5139,99.5137,98.8635,102.154,91.9278,95.6222,92.2135,96.6567,96.1641,100.567,93.5904,94.8652,94.5588,94.7466,94.2723,97.9681,101.1994,98.8772,99.6579,92.958,94.717,96.9601,106.0379,108.7233,109.0998,116.4227,123.3789,123.8843,122.9132,122.0313,116.0461,118.9198,131.4648,124.6671,124.8554,125.8661,125.4146,133.6689,130.0334,129.6063,133.7186,132.9935,130.6294,145.2111,158.3922,149.8796,99.2509,94.9599,91.6919,91.9111,91.6122,85.902,83.8491,84.158,85.1745,89.7885,91.094,94.243,91.074,91.8115,90.227,85.3937,85.88,83.87,81.24,81.66,82.38,86.08,83.47,82.35,85.29,84.35,75.41,77.41,78.03],"consensus":[52.9768,69.0794,21.4728,77.3552,0.0,46.6643,-24.6039,0.0,25.3078,-56.0002,-41.6738,30.1403,-29.851,31.5154,23.2344,16.4819,-15.3734,-32.6924,-12.1454,-23.6491,-57.3127,52.7412,34.6449,-24.5512,8.8037,-23.8376,-17.8562,17.6998,-22.4396,-46.3167,14.6887,-18.7273,33.5661,-51.0547,0.0,-44.9002,11.6165,0.0,33.3677,-37.9668,-8.0186,0.0,-20.4853,-8.7839,33.6668,40.0003,0.0,24.1691,-49.3812,0.0,8.8262,62.5213,53.3625,42.9965,69.7827,72.6218,37.2442,41.6856,26.6306,-21.1788,29.0216,71.5197,0.0,34.6518,25.5359,0.0,61.9947,0.0,18.1368,46.5568,19.4384,0.0,72.5418,81.4679,9.2955,-69.4549,-51.6436,-54.5651,-52.451,-36.1836,-63.7432,-54.455,-44.4015,-31.6717,0.0,0.0,13.7742,-20.4646,0.0,-15.0293,-52.5683,-21.4175,-45.869,-46.7375,-17.5882,-22.0315,22.2377,-22.7243,-13.6393,16.8826,-8.5603,-58.6289,0.0,-15.9599],"supportDates":["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"],"control":[53.3892,43.9821,69.3293,69.3075,27.1869,40.9636,19.5248,-16.7498,41.5954,67.8001,0.0,34.2495,19.2603,0.0,64.308,0.0,15.7289,43.166,27.3122,0.0,69.9905,84.7979,0.8778,-57.8167,-40.4332,-47.1591,-56.0806,-30.9669,-60.459,-57.1648,-47.3443,-28.1199,0.0,0.0,10.7886,-29.885,0.0,-12.4497,-58.5868,-19.1831,-52.3972,-49.2369,-13.2368,-23.4644,22.5374,-32.2061,-17.2192,14.15,-7.3661,-51.6981,0.0,-10.5301],"force":[48.717,22.1942,77.9518,83.3382,10.2854,8.9582,4.695,-67.66,26.6361,92.9951,0.0,19.6977,10.3611,0.0,69.0702,0.0,0.3624,51.4716,0.94,0.0,95.4223,96.2968,44.4743,-97.3721,-47.2826,-44.5387,-21.2904,-7.9069,-66.0908,-36.2258,-14.0498,-0.1974,0.0,0.0,38.8429,-18.1636,0.0,-9.68,-52.9931,-2.1547,-37.7437,-40.1086,-4.0144,-4.5851,52.486,-27.8373,-6.7676,35.0855,-8.7593,-87.899,0.0,-2.2656],"direction":[56.6502,56.7287,64.4658,68.7551,67.9946,65.8876,57.1269,-6.9604,16.3555,60.431,0.0,45.7929,43.5471,0.0,54.2969,0.0,34.1023,46.9214,24.9959,0.0,59.1143,67.0701,59.3292,-62.8149,-67.5703,-70.1908,-70.5603,-62.3431,-65.8197,-64.379,-62.7181,-58.2124,0.0,0.0,0.72,-11.3419,0.0,-21.7982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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":"Control support is limited","controlPath":"Broadly stable","forceState":"Commitment is limited","forcePath":"Commitment is easing","directionState":"Downward follow-through","persistenceState":"Unsettled","confirmationState":"Qualified support","riskState":"Present","intensityState":"Quiet"},"cards":[{"label":"SM Consensus Gauge","value":"-16.0","detail":"Joint downward confirmation","tone":"negative"},{"label":"SM Control Gauge","value":"-10.5","detail":"Control support is limited","tone":"negative"},{"label":"SM Force Gauge","value":"-2.3","detail":"Commitment is limited","tone":"negative"},{"label":"SM Direction Gauge","value":"-35.2","detail":"Downward 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