{"schema_version":"1.0","name":"ORBX Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"9916e6d5-b0be-4acd-8937-39ce45b44e45","symbol":"ORBX","name":"Global X Space Tech Index ETF","exchange":"TOR","country":"CA","asset_type":"etf","currency":"CAD","sector":null,"industry":null},"summary":"The completed price path and its progression through the positioning zones can be described, but there is not enough usable Market Dynamics history to confirm or challenge the technical state.","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, Completed returns and cumulative progression, Range expansion and closing direction, Drawdown and recovery pressure, Acceleration, deceleration and rollover, 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":17,"displayedObservations":17,"assetType":"ETF","state":"Aligned downward","stateTone":"negative","summary":"The completed price path and its progression through the positioning zones can be described, but there is not enough usable Market Dynamics history to confirm or challenge the technical state.","evidenceAlignment":{"status":"Evidence developing","headline":"Price structure is visible; Market Dynamics is not yet established","summary":"The completed price path and its progression through the positioning zones can be described, but there is not enough usable Market Dynamics history to confirm or challenge the technical state.","take":"Treat movement through the zones as price-location context only. Reaching the upper zone shows extension, but without an established Market Dynamics read it does not by itself establish active distribution, divergence or reversal risk.","tone":"neutral","conflict":false},"marketDynamics":{"available":true,"readAvailable":false,"dates":["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"],"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],"opens":[18.950001,20.0,22.940001,24.860001,28.08,25.93,25.18,22.09,18.6,21.780001,19.6,16.77,16.91,16.370001,17.67,18.9,19.6],"highs":[20.559999,22.700001,25.559999,27.700001,31.620001,25.93,25.18,22.75,19.48,22.129999,19.6,17.290001,17.65,16.700001,18.809999,19.530001,19.639999],"lows":[18.93,19.709999,22.75,23.25,27.870001,23.5,22.389999,21.92,18.6,21.780001,19.26,16.440001,16.309999,15.45,17.129999,18.52,17.35],"closes":[20.32,22.67,24.35,27.629999,29.870001,23.93,22.809999,22.1,19.23,22.1,19.42,16.9,16.389999,16.15,18.809999,19.110001,17.799999],"hoverRows":[[{"label":"Open","value":"19.0","className":"is-ohlc","compact":true},{"label":"High","value":"20.6","className":"is-ohlc","compact":true},{"label":"Low","value":"18.9","className":"is-ohlc","compact":true},{"label":"Close","value":"20.3","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"Unavailable","note":"Insufficient completed history","className":"is-muted","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"20.0","className":"is-ohlc","compact":true},{"label":"High","value":"22.7","className":"is-ohlc","compact":true},{"label":"Low","value":"19.7","className":"is-ohlc","compact":true},{"label":"Close","value":"22.7","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"Unavailable","note":"Insufficient completed history","className":"is-muted","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"22.9","className":"is-ohlc","compact":true},{"label":"High","value":"25.6","className":"is-ohlc","compact":true},{"label":"Low","value":"22.8","className":"is-ohlc","compact":true},{"label":"Close","value":"24.4","className":"is-ohlc","compact":true},{"label":"Market 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Dynamics","value":"Unavailable","note":"Insufficient completed history","className":"is-muted","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"21.8","className":"is-ohlc","compact":true},{"label":"High","value":"22.1","className":"is-ohlc","compact":true},{"label":"Low","value":"21.8","className":"is-ohlc","compact":true},{"label":"Close","value":"22.1","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"Unavailable","note":"Insufficient completed history","className":"is-muted","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"19.6","className":"is-ohlc","compact":true},{"label":"High","value":"19.6","className":"is-ohlc","compact":true},{"label":"Low","value":"19.3","className":"is-ohlc","compact":true},{"label":"Close","value":"19.4","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"Unavailable","note":"Insufficient completed history","className":"is-muted","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"16.8","className":"is-ohlc","compact":true},{"label":"High","value":"17.3","className":"is-ohlc","compact":true},{"label":"Low","value":"16.4","className":"is-ohlc","compact":true},{"label":"Close","value":"16.9","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"Unavailable","note":"Insufficient completed history","className":"is-muted","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"16.9","className":"is-ohlc","compact":true},{"label":"High","value":"17.6","className":"is-ohlc","compact":true},{"label":"Low","value":"16.3","className":"is-ohlc","compact":true},{"label":"Close","value":"16.4","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"Unavailable","note":"Insufficient completed history","className":"is-muted","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"16.4","className":"is-ohlc","compact":true},{"label":"High","value":"16.7","className":"is-ohlc","compact":true},{"label":"Low","value":"15.4","className":"is-ohlc","compact":true},{"label":"Close","value":"16.1","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"Unavailable","note":"Insufficient completed history","className":"is-muted","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"17.7","className":"is-ohlc","compact":true},{"label":"High","value":"18.8","className":"is-ohlc","compact":true},{"label":"Low","value":"17.1","className":"is-ohlc","compact":true},{"label":"Close","value":"18.8","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"Unavailable","note":"Insufficient completed history","className":"is-muted","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"18.9","className":"is-ohlc","compact":true},{"label":"High","value":"19.5","className":"is-ohlc","compact":true},{"label":"Low","value":"18.5","className":"is-ohlc","compact":true},{"label":"Close","value":"19.1","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"Unavailable","note":"Insufficient completed history","className":"is-muted","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"19.6","className":"is-ohlc","compact":true},{"label":"High","value":"19.6","className":"is-ohlc","compact":true},{"label":"Low","value":"17.4","className":"is-ohlc","compact":true},{"label":"Close","value":"17.8","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"Unavailable","note":"Insufficient completed history","className":"is-muted","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}]],"pressureRange":[-2.3,2.3],"priceRange":[15.3268,30.693201],"zones":{"accumulationBoundary":-1.5,"accumulationDarkBoundary":-2.0,"distributionBoundary":1.5,"distributionDarkBoundary":2.0},"state":"Insufficient history","context":{"scenario":"developing","latestDirection":"steady","fourWeekDirection":"steady","now":{"label":"Little changed this week","detail":"Market Dynamics remains positive and was little changed this week."},"fourWeek":{"label":"Broadly steady over four weeks","detail":"The broader path has not changed enough to establish a new direction."},"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":"Zone progression","detail":"Price is travelling between the lower accumulation area and the upper positioning zone. Market Dynamics history is not yet sufficient to confirm or challenge that progression.","tone":"neutral"},"chartSummary":"Price is between the outer positioning zones. The Market Dynamics bars show whether underlying support is strengthening or weakening.","summary":"Price is travelling between the lower accumulation area and the upper positioning zone. Market Dynamics history is not yet sufficient to confirm or challenge that progression.","annotations":[{"label":"Current tape relationship","value":"Zone progression","detail":"Market Dynamics remains positive and was little changed this week.","tone":"neutral"},{"label":"Price location","value":"Between zones","detail":"Price is progressing between the lower and upper positioning zones while the Market Dynamics read develops.","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":"Unavailable","detail":"Too little usable Market Dynamics history is available for a directional confirmation read.","tone":"neutral"}],"relationshipEvidence":{"available":false,"observations":17,"summary":"More completed weekly history is needed for a dependable ticker-level record."},"events":{"positioning_recoveries":[],"reversal_warnings":[{"date":"2026-05-29","price":29.870001}],"reversal_dangers":[{"date":"2026-06-05","price":23.93}]}},"smTape":{"available":true,"dates":["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":[20.32,22.67,24.35,27.63,29.87,23.93,22.81,22.1,19.23,22.1,19.42,16.9,16.39,16.15,18.81,19.11,17.8],"consensus":[70.5523,97.9932,13.879,56.1752,73.9906,-12.2112,-28.0459,-33.4033,-45.343,11.7699,-47.9636,-52.1294,-54.9626,-41.9374,19.7732,0.0,-31.0519],"supportDates":["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,-30.4139,-29.2327,-28.7511,-35.3457,31.3799,-45.3007,-46.3922,-56.9731,-31.966,26.1119,0.0,-43.7226],"force":[70.5523,97.9932,13.879,56.1752,37.9266,-33.6304,-33.6211,-25.6691,-28.1356,29.8427,-34.9005,-32.3652,-32.4748,-15.74,71.8821,0.0,-36.8662],"direction":[null,null,null,null,99.7506,-23.8912,-22.7072,-44.2447,-69.0594,23.5505,-60.3378,-72.8035,-68.7274,-72.0457,24.6917,0.0,-12.418],"intensity":[null,null,null,null,100.0,100.0,16.6667,42.8571,75.0,55.5556,40.0,45.4545,8.3333,15.3846,42.8571,26.6667,25.0],"confirmation":[45.2434,54.0245,27.108,40.6427,67.3617,32.0465,77.1265,78.5242,82.1377,31.7091,82.9908,84.1665,84.872,80.7735,35.7531,48.1268,55.0],"persistence":[null,null,100.0,100.0,100.0,66.6667,42.8571,25.0,0.0,0.0,25.0,50.0,75.0,75.0,50.0,37.5,37.5],"assessmentRisk":[null,null,null,null,13.0047,23.973,8.629,31.013,27.2563,33.5973,17.1441,21.3615,11.3379,27.953,21.1612,31.1996,42.0801],"volumeParticipation":true,"latest":{"consensus":-31.1,"control":-43.7,"force":-36.9,"direction":-12.4,"confirmation":55.0,"persistence":37.5,"assessmentRisk":42.1,"intensity":25.0,"evidenceDepth":65},"analysis":{"status":"Price structure has the available support","headline":"The gauges support the price-technical view","summary":"Market Dynamics does not provide a directional confirmation. The completed evidence supports the downward price structure.","take":"Current assessment: follow price structure with limited confirmation.","tone":"negative","supportedView":"Price structure","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":"Qualified support","riskState":"Present","intensityState":"Quiet"},"cards":[{"label":"SM Consensus Gauge","value":"-31.1","detail":"Price structure has the available support","tone":"negative"},{"label":"SM Control Gauge","value":"-43.7","detail":"Seller control supports the view","tone":"negative"},{"label":"SM Force Gauge","value":"-36.9","detail":"Downward commitment","tone":"negative"},{"label":"SM Direction Gauge","value":"-12.4","detail":"Downward follow-through","tone":"negative"},{"label":"SM Confirmation Gauge","value":"55/100","detail":"Qualified support","tone":"neutral"}]},"kpis":[{"label":"Price structure","value":"Aligned downward","detail":"completed-week alignment","tone":"negative"},{"label":"Momentum","value":"63.1","detail":"Positive","tone":"positive"},{"label":"Risk pressure","value":"12.8%","detail":"Elevated","tone":"caution"},{"label":"Trend quality","value":"-","detail":"Developing","tone":"neutral"},{"label":"Range position","value":"15%","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":[20.32,22.67,24.35,27.63,29.87,23.93,22.81,22.1,19.23,22.1,19.42,16.9,16.39,16.15,18.81,19.11,17.8],"stroke":"#10243b","width":2.1},{"label":"Fast trend","values":[null,null,null,null,23.8683,23.8795,23.6851,23.3969,22.6393,22.5412,21.9737,21.0512,20.2037,19.4667,19.3473,19.3041,19.0307],"stroke":"#176fa3","width":1.7},{"label":"Slow trend","values":[null,null,null,null,null,null,null,null,null,null,null,null,21.0105,20.6504,20.5141,20.4101,20.2168],"stroke":"#07865c","width":1.8},{"label":"Upper envelope","values":[null,null,null,null,null,null,null,null,null,29.5664,29.371,29.5075,29.5415,29.4812,29.1621,28.8598,28.617],"stroke":"#98a9b8","width":1.0,"dash":[6,5]},{"label":"Lower envelope","values":[null,null,null,null,null,null,null,null,null,17.4356,16.889,15.7142,14.7231,13.9288,13.8619,13.864,13.6877],"stroke":"#98a9b8","width":1.0,"dash":[6,5]}],"guides":[],"dates":["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":"returns","eyebrow":"Observed return path","title":"Completed returns and cumulative progression","description":"Period returns are shown beside the total move recorded across the available tape.","reason":"Selected because direct returns remain fully observable while longer indicators develop.","series":[{"label":"Period return","values":[null,11.565,7.4107,13.4702,8.1071,-19.8862,-4.6803,-3.1127,-12.9864,14.9246,-12.1267,-12.9763,-3.0178,-1.4643,16.4706,1.5949,-6.8551],"stroke":"#176fa3","width":1.7},{"label":"Cumulative progression","values":[0.0,11.565,19.8327,35.9744,46.998,17.7657,12.2539,8.7598,-5.3642,8.7598,-4.4291,-16.8307,-19.3406,-20.5217,-7.4311,-5.9547,-12.4016],"stroke":"#07865c","width":2.0}],"guides":[{"label":"Starting level","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],"stroke":"#8fa0af","width":1.0,"dash":[6,5]}],"dates":["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":"bar_range","eyebrow":"Completed-bar anatomy","title":"Range expansion and closing direction","description":"The completed range and open-to-close direction expose expansion, compression and control.","reason":"Selected because these measures use every completed bar and do not require a long history.","series":[{"label":"Completed range","values":[8.0216,13.1892,11.54,16.1057,12.5544,10.1546,12.2315,3.7557,4.5762,1.5837,1.7508,5.0296,8.1757,7.7399,8.9314,5.2852,12.8652],"stroke":"#b87806","width":1.8},{"label":"Open-to-close direction","values":[7.2295,13.35,6.1465,11.1424,6.3746,-7.7131,-9.4122,0.0453,3.3871,1.4692,-0.9184,0.7752,-3.0751,-1.3439,6.4516,1.1111,-9.1837],"stroke":"#176fa3","width":1.8}],"guides":[{"label":"Unchanged close","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],"stroke":"#8fa0af","width":1.0,"dash":[6,5]}],"dates":["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":[0.0,0.0,0.0,0.0,0.0,-19.8862,-23.6358,-26.0127,-35.621,-26.0127,-34.9849,-43.4215,-45.1289,-45.9324,-37.0271,-36.0228,-40.4084],"stroke":"#c13f3f","width":1.9,"fill":"rgba(193,63,63,.10)"},{"label":"Recovery","values":[null,null,null,null,null,null,null,8.7598,0.0,14.9246,0.988,0.0,0.0,0.0,16.4706,18.3282,10.2167],"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],"stroke":"#8fa0af","width":1.0,"dash":[6,5]}],"dates":["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 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