{"schema_version":"1.0","name":"CAIQ Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"9025b5a0-d403-4704-8366-015d691fc06f","symbol":"CAIQ","name":"Calamos Nasdaq Autocallable Income ETF","exchange":"NASDAQ","country":"US","asset_type":"etf","currency":"USD","sector":null,"industry":null},"summary":"Market Dynamics improved this week but remains below zero. Underlying support has contracted across the recent completed path. Price has moved below the distribution zone after Market Dynamics weakened.","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, Activity pressure and cumulative balance, Range position and boundary pressure, Directional strength and control, Acceleration, deceleration and rollover, Directional pressure and rotation."},{"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 contracted across the recent completed path. Price has moved below the distribution zone after Market Dynamics weakened.","evidenceAlignment":{"status":"Rollover warning","headline":"Price has moved below distribution as Market Dynamics weakened","summary":"Market Dynamics improved this week but remains below zero. Underlying support has contracted across the recent completed path. Price has moved below the distribution zone after Market Dynamics weakened.","take":"The prior extension has started to roll over. Further price weakness would confirm the downside transition; a recovery in both readings would remove the warning.","tone":"negative","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":[0.791815,1.060753,1.021139,0.985218,0.944292,0.872082,0.631,0.332444,0.04552,-0.181607,-0.186555,-0.173184],"opens":[26.627446,26.055661,26.479571,26.440137,25.836218,25.764046,25.892127,25.300983,25.586703,25.13,25.9,26.25],"highs":[26.706313,26.371129,26.588013,26.459854,26.108178,26.059618,25.892127,25.596555,25.586703,26.0299,26.28,26.35],"lows":[26.026086,25.87821,26.24297,26.065519,25.632248,25.61626,25.153197,25.020189,24.59161,25.08,25.79,25.59],"closes":[26.078927,26.280826,26.459854,26.18382,25.813308,25.981095,25.363841,25.03684,25.192705,25.9708,26.1801,25.7047],"hoverRows":[[{"label":"Open","value":"26.6","className":"is-ohlc","compact":true},{"label":"High","value":"26.7","className":"is-ohlc","compact":true},{"label":"Low","value":"26.0","className":"is-ohlc","compact":true},{"label":"Close","value":"26.1","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.79","note":"Supportive and strengthening","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"26.1","className":"is-ohlc","compact":true},{"label":"High","value":"26.4","className":"is-ohlc","compact":true},{"label":"Low","value":"25.9","className":"is-ohlc","compact":true},{"label":"Close","value":"26.3","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"1.06","note":"Supportive and strengthening","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"26.5","className":"is-ohlc","compact":true},{"label":"High","value":"26.6","className":"is-ohlc","compact":true},{"label":"Low","value":"26.2","className":"is-ohlc","compact":true},{"label":"Close","value":"26.5","className":"is-ohlc","compact":true},{"label":"Market 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easing","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"25.3","className":"is-ohlc","compact":true},{"label":"High","value":"25.6","className":"is-ohlc","compact":true},{"label":"Low","value":"25.0","className":"is-ohlc","compact":true},{"label":"Close","value":"25.0","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.33","note":"Supportive but easing","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"25.6","className":"is-ohlc","compact":true},{"label":"High","value":"25.6","className":"is-ohlc","compact":true},{"label":"Low","value":"24.6","className":"is-ohlc","compact":true},{"label":"Close","value":"25.2","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.05","note":"Supportive but easing","className":"is-positive","wide":true},{"label":"Signal / event","value":"Reversal warning","className":"is-caution","wide":true}],[{"label":"Open","value":"25.1","className":"is-ohlc","compact":true},{"label":"High","value":"26.0","className":"is-ohlc","compact":true},{"label":"Low","value":"25.1","className":"is-ohlc","compact":true},{"label":"Close","value":"26.0","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.18","note":"Cautious and weakening","className":"is-negative","wide":true},{"label":"Signal / event","value":"Reversal danger","className":"is-negative","wide":true}],[{"label":"Open","value":"25.9","className":"is-ohlc","compact":true},{"label":"High","value":"26.3","className":"is-ohlc","compact":true},{"label":"Low","value":"25.8","className":"is-ohlc","compact":true},{"label":"Close","value":"26.2","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.19","note":"Cautious and weakening","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"26.2","className":"is-ohlc","compact":true},{"label":"High","value":"26.4","className":"is-ohlc","compact":true},{"label":"Low","value":"25.6","className":"is-ohlc","compact":true},{"label":"Close","value":"25.7","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.17","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":[24.951459,26.545235],"zones":{"accumulationBoundary":-1.5,"accumulationDarkBoundary":-2.0,"distributionBoundary":1.5,"distributionDarkBoundary":2.0},"latest":-0.173184,"state":"Negative and weakening","context":{"scenario":"negativeWeakening","latestDirection":"slight strengthening","fourWeekDirection":"weakening","now":{"label":"Slightly stronger this week","detail":"Market Dynamics improved this week but 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":"Distribution rollover","detail":"Price has moved down through distribution conditions as Market Dynamics contracted. The completed tape now carries a stronger continuation-risk warning.","tone":"negative"},"chartSummary":"Price is between the outer positioning zones. The Market Dynamics bars show whether underlying support is strengthening or weakening.","summary":"Price has moved down through distribution conditions as Market Dynamics contracted. The completed tape now carries a stronger continuation-risk warning.","annotations":[{"label":"Current tape relationship","value":"Distribution rollover","detail":"Market Dynamics improved this week but remains below zero.","tone":"negative"},{"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":"Weakening","detail":"Underlying support has contracted across the recent completed path.","tone":"negative"}],"relationshipEvidence":{"available":false,"observations":12,"summary":"More completed weekly history is needed for a dependable ticker-level record."},"events":{"positioning_recoveries":[],"reversal_warnings":[{"date":"2026-07-31","price":25.192705}],"reversal_dangers":[{"date":"2026-08-07","price":25.9708}]}},"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":[23.0118,23.7289,23.9596,23.705,23.7944,24.0638,23.6383,24.2589,23.9336,24.0155,23.9942,23.643,23.3673,23.6506,23.7612,23.4632,23.2414,22.9113,22.2936,23.1011,24.0065,25.3373,25.8818,25.7248,26.279,26.1428,26.3665,26.6095,26.0789,26.2808,26.4599,26.1838,25.8133,25.9811,25.3638,25.0368,25.1927,25.9708,26.1801,25.7047],"consensus":[18.9764,88.5968,60.6793,-46.9566,57.8691,47.1583,-19.6024,72.7306,0.0,29.1153,14.9,-33.1566,-38.9748,11.472,8.0241,-23.761,-30.0863,-48.0409,-65.8451,15.3041,50.4508,75.4341,69.2652,46.9405,68.6451,32.1236,50.0532,56.7281,-9.5566,41.0293,33.584,0.0,-16.1295,19.5494,-47.669,-50.5441,-16.8948,41.2433,37.7165,-18.3027],"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,50.1692,-22.817,67.9596,0.0,31.6986,6.1045,-18.9672,-29.8041,21.6153,14.3416,-20.1224,-32.6258,-47.2032,-64.396,28.7103,50.476,75.3596,74.6047,53.4837,73.1002,29.0128,54.703,60.8666,-12.3233,47.0978,38.2262,0.0,-10.4662,28.2798,-40.9647,-48.7336,-10.3804,47.0433,38.9554,-27.535],"force":[18.9764,88.5968,60.6793,-46.9566,25.4288,26.361,-38.6962,91.1096,0.0,33.4287,1.4677,-62.3475,-47.8825,34.7734,15.2445,-31.7204,-32.6433,-50.7719,-76.7603,48.8187,68.249,97.0792,66.5856,12.8062,63.8613,3.0547,32.8431,40.893,-60.7863,32.4616,17.7048,0.0,-47.058,27.9321,-72.8747,-56.0314,-1.0964,73.0023,39.3874,-46.1771],"direction":[null,null,null,null,81.0408,58.5726,-2.2901,65.0552,0.0,23.0818,36.643,-28.5223,-43.093,16.7643,4.3534,-22.234,-25.3576,-47.0474,-59.7046,23.9564,37.7089,60.0585,65.0769,63.844,66.9705,60.8061,57.0319,63.3091,-30.1979,40.2138,39.6208,0.0,-0.51,3.5843,-37.3271,-48.6938,-37.1906,11.9297,35.1072,-12.1589],"intensity":[null,null,null,null,50.0,80.0,66.6667,85.7143,25.0,22.2222,70.0,90.9091,16.6667,23.0769,7.1429,33.3333,6.25,52.9412,83.3333,100.0,100.0,100.0,95.4545,4.3478,66.6667,60.0,11.5385,40.7407,67.8571,37.931,50.0,22.5806,59.375,3.0303,76.4706,37.1429,58.3333,89.1892,84.2105,61.5385],"confirmation":[28.7391,51.0176,42.0841,37.6928,62.3685,82.411,52.139,91.9066,8.8591,77.409,27.383,79.7159,80.8832,30.4696,48.9535,75.9015,77.6669,83.4691,89.4252,33.4918,84.6863,92.7997,90.0018,81.881,89.7527,55.2398,83.4217,85.6073,33.6861,80.7758,78.1922,6.2297,51.5236,51.7116,84.1244,84.3689,50.5245,82.0774,80.1013,31.8262],"persistence":[null,null,100.0,50.0,60.0,66.6667,42.8571,50.0,37.5,37.5,37.5,37.5,12.5,12.5,37.5,12.5,0.0,25.0,50.0,25.0,0.0,0.0,0.0,25.0,50.0,75.0,100.0,100.0,75.0,75.0,75.0,62.5,37.5,37.5,12.5,12.5,12.5,12.5,12.5,25.0],"assessmentRisk":[null,null,null,null,19.9507,15.8618,25.1311,8.1713,17.7744,20.928,30.3908,30.0624,26.2856,44.377,36.5533,14.8006,4.7591,25.1682,17.0661,43.7634,21.8124,12.2667,15.3671,26.5194,15.6459,28.7131,10.1033,17.6767,11.9547,8.4723,8.2012,31.7631,15.95,38.1297,25.9193,24.6144,38.9659,21.9918,29.8143,55.9154],"volumeParticipation":true,"latest":{"consensus":-18.3,"control":-27.5,"force":-46.2,"direction":-12.2,"confirmation":31.8,"persistence":25.0,"assessmentRisk":55.9,"intensity":61.5,"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":"Broadly stable","directionState":"Downward follow-through","persistenceState":"Unsettled","confirmationState":"Limited support","riskState":"Present","intensityState":"Normal"},"cards":[{"label":"SM Consensus Gauge","value":"-18.3","detail":"Market Dynamics has stronger support","tone":"negative"},{"label":"SM Control Gauge","value":"-27.5","detail":"Seller control supports the view","tone":"negative"},{"label":"SM Force Gauge","value":"-46.2","detail":"Downward commitment","tone":"negative"},{"label":"SM Direction Gauge","value":"-12.2","detail":"Downward follow-through","tone":"negative"},{"label":"SM Confirmation Gauge","value":"32/100","detail":"Limited support","tone":"caution"}]},"kpis":[{"label":"Price structure","value":"Rotational","detail":"completed-week alignment","tone":"caution"},{"label":"Momentum","value":"59.1","detail":"Positive","tone":"positive"},{"label":"Risk pressure","value":"2.6%","detail":"Normal","tone":"neutral"},{"label":"Trend quality","value":"16.9","detail":"Range-led","tone":"neutral"},{"label":"Range position","value":"78%","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 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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,205.0132,156.461,179.2915,144.7311,177.6886,136.1889,105.8443,115.0312,103.6825,90.8294,75.3984,113.3055,59.1038,73.2441,152.368,118.8703,165.473,99.6833,130.5573,95.2102,111.2193,118.2049,131.3042,87.0723,130.7149,152.4311,159.1113,128.9697,127.6978,120.9618,131.8525,122.2827,119.1806],"stroke":"#1678a7","width":1.8},{"label":"Cumulative 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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,98.7784,77.3895,82.7765,71.5405,51.2409,35.3045,51.6823,58.0732,40.8477,28.0296,8.9436,1.0622,42.6898,80.1463,98.3901,99.2408,95.1552,98.8585,95.0116,97.7877,99.5736,86.4707,90.8245,94.6852,88.7326,80.7427,84.361,71.0501,63.9985,67.3596,84.1389,88.6524,78.4006],"stroke":"#10243b","width":2.0},{"label":"From high","values":[null,null,null,null,null,null,null,-0.0765,-1.4165,-1.079,-2.0106,-3.4448,-4.5706,-3.4136,-2.9621,-4.179,-5.0846,-6.433,-8.9555,-5.6579,-1.96,-0.2106,-0.1126,-0.7183,-0.1846,-0.8115,-0.3674,-0.073,-2.3492,-1.5932,-0.9228,-1.9564,-3.3438,-2.7155,-5.0268,-6.2512,-5.6676,-2.7541,-1.9704,-3.7505],"stroke":"#c13f3f","width":1.5},{"label":"From 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CAIQ Technical Research Pack, completed week 2026-08-21, https://sharemaestro.com/terminal/9025b5a0-d403-4704-8366-015d691fc06f/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."}