{"schema_version":"1.0","name":"009805 Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"a0e491b3-743b-4125-b7a7-c31d9da251ce","symbol":"009805","name":"Shin Kong US Electricity Infrastructure Quality Income ETF","exchange":"TAI","country":"TW","asset_type":"etf","currency":"TWD","sector":null,"industry":null},"summary":"Market Dynamics improved this week but remains below zero. The broader path has not changed enough to establish a new direction. 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, Strength versus the research benchmark, Acceleration, deceleration and rollover, Range pressure and compression, Directional strength and control, 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":66,"displayedObservations":66,"assetType":"ETF","state":"Rotational","stateTone":"caution","summary":"Market Dynamics improved this week but remains below zero. The broader path has not changed enough to establish a new direction. 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. The broader path has not changed enough to establish a new direction. 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":["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","2026-02-27","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"],"values":[0.406975,0.485952,0.308158,0.20455,0.044566,-0.131664,-0.259179,-0.133483,0.040461,0.329186,0.553935,0.839509,1.163539,1.369358,1.534072,1.463437,1.271854,1.084746,1.077954,1.083756,1.202104,1.346705,1.409619,1.474207,1.418268,1.215895,0.973235,0.489883,0.085981,-0.185086,-0.473252,-0.508466,-0.676038,-0.787873,-0.817066,-0.836077,-0.787416,-0.78025],"opens":[12.3,12.74,12.66,12.5,12.39,12.56,12.58,12.6,13.37,13.12,13.42,13.94,14.53,15.0,14.2,15.0,14.76,14.6,14.99,15.94,15.88,16.780001,16.950001,16.440001,16.860001,16.67,16.620001,15.902677,16.071643,17.075499,16.608356,16.499027,16.219999,16.18,16.52,15.73,16.17,16.299999],"highs":[12.69,12.78,12.8,12.55,12.62,12.56,12.82,13.22,14.2,13.53,14.02,14.23,15.21,15.12,15.01,15.21,15.29,15.05,15.96,16.110001,16.82,16.82,17.66,17.26,16.959999,16.67,16.690001,15.932495,16.58848,17.164952,16.727627,16.499027,16.219999,16.52,16.530001,16.440001,16.35,16.4],"lows":[12.29,12.54,12.52,12.17,12.37,12.33,12.47,12.53,13.22,13.02,13.28,13.92,14.53,14.46,14.0,14.93,14.67,14.45,14.93,15.78,15.87,16.389999,16.700001,16.43,16.09,16.57,16.120001,15.783407,16.071643,16.896594,16.588479,16.499027,16.01,16.15,14.97,15.72,15.98,15.52],"closes":[12.65,12.72,12.79,12.31,12.58,12.4,12.51,13.17,13.23,13.49,13.54,14.18,15.15,14.66,14.92,15.11,14.88,14.83,15.96,15.8,16.780001,16.42,16.799999,17.1,16.540001,16.66,16.59,15.843041,16.568602,16.946289,16.717688,16.499027,16.02,16.440001,15.73,16.139999,16.17,15.53],"hoverRows":[[{"label":"Open","value":"12.3","className":"is-ohlc","compact":true},{"label":"High","value":"12.7","className":"is-ohlc","compact":true},{"label":"Low","value":"12.3","className":"is-ohlc","compact":true},{"label":"Close","value":"12.7","className":"is-ohlc","compact":true},{"label":"Market 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The gap is a downside-risk warning until support catches up or price resets."}},"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":"23 Jan 2026","detail":"The green dot marks a confirmed recovery where institutional positioning is most plausible.","tone":"neutral"},{"label":"Market Dynamics confirmation","value":"Lagging price","detail":"Price is extended relative to Market Dynamics. 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Distinct visits lasted 2.5 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 0.5% across 1 completed cases, with the largest move arriving after 1.0 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":[{"date":"2025-12-05","price":12.72},{"date":"2026-01-23","price":13.23}],"reversal_warnings":[{"date":"2026-04-24","price":16.780001},{"date":"2026-06-19","price":16.568602},{"date":"2026-08-14","price":16.17}],"reversal_dangers":[{"date":"2026-05-01","price":16.42},{"date":"2026-06-26","price":16.946289},{"date":"2026-07-03","price":16.717688},{"date":"2026-08-21","price":15.53}]}},"smTape":{"available":true,"dates":["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","2026-02-27","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":[10.17,9.85,10.07,10.13,10.02,10.06,10.16,10.33,10.49,10.95,11.17,11.61,11.44,11.38,11.44,11.64,11.43,11.61,11.61,11.74,12.17,12.51,12.61,12.38,12.82,12.67,12.46,12.23,12.65,12.72,12.79,12.31,12.58,12.4,12.51,13.17,13.23,13.49,13.54,14.18,15.15,14.66,14.92,15.11,14.88,14.83,15.96,15.8,16.78,16.42,16.8,17.1,16.54,16.66,16.59,15.843,16.5686,16.9463,16.7177,16.499,16.02,16.44,15.73,16.14,16.17,15.53],"consensus":[30.4348,-95.4545,84.6154,24.1667,-36.907,9.193,20.6647,42.2117,63.5392,82.9196,81.0653,85.2142,14.9669,23.2016,44.1205,62.1799,0.0,61.5222,27.8756,32.4982,76.461,77.385,57.8779,8.8198,67.4252,11.8285,-10.328,-21.7009,45.0418,31.5021,44.5653,-27.3168,32.4244,-22.9078,0.0,69.8394,23.3856,66.4913,35.6282,72.9494,82.8489,8.5721,64.497,51.132,8.9699,28.9197,79.552,18.6774,79.3288,12.2014,40.4037,61.3737,0.0,38.287,18.3271,-30.7922,43.5464,24.5659,21.6971,8.8215,-40.9883,16.7255,-47.5266,0.0,0.0,-55.7279],"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","2026-02-27","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":[32.0132,65.7234,0.0,61.7599,26.5071,21.8168,81.304,83.8688,52.4565,5.0365,62.158,9.2916,-11.4029,-22.4396,63.6739,40.0615,51.3426,-29.7444,43.9937,-19.0465,0.0,69.0679,9.2495,65.0867,28.0673,74.0234,86.1522,2.3237,63.9586,49.9456,16.8692,32.0918,84.9913,5.7291,86.4879,3.0803,25.9789,64.6004,0.0,48.7221,28.6483,-28.8721,58.0766,23.6597,31.723,3.113,-46.0972,34.245,-37.0972,0.0,0.0,-53.9762],"force":[29.4913,68.0411,0.0,74.6801,3.675,34.7206,86.4181,79.6102,51.6996,43.4266,77.3301,38.3629,-55.0458,-54.5329,46.9017,14.4903,32.1559,-60.0125,44.3779,-37.6289,0.0,95.2699,8.3325,83.3689,20.9028,85.6984,94.6257,60.3419,64.9172,34.35,33.9006,7.3302,91.6002,18.6367,82.0744,37.2447,32.8381,52.0682,0.0,18.4448,2.3775,-38.5507,51.1743,10.2172,3.8311,2.2956,-43.0055,28.085,-64.5682,0.0,0.0,-65.4112],"direction":[68.4067,53.9435,0.0,51.8521,46.7257,43.1179,63.814,68.3857,68.4869,61.9744,66.3699,50.5788,-22.8416,-2.5946,22.4195,33.8713,45.6836,-1.1883,10.664,-16.8058,0.0,52.5566,50.2933,56.0413,54.7874,62.6156,70.6617,64.9373,64.8121,64.4749,30.5638,40.7154,64.7299,60.1283,69.1859,64.9847,62.2931,64.3327,0.0,40.5342,21.3203,-27.4447,21.492,35.8506,23.0005,23.2862,-33.7087,11.4108,-47.2735,0.0,0.0,-50.8133],"intensity":[50.0,53.3333,56.25,47.0588,77.7778,89.4737,90.0,76.1905,68.1818,65.2174,91.6667,20.0,42.3077,66.6667,85.7143,65.5172,3.3333,96.7742,65.625,33.3333,64.7059,100.0,100.0,97.2973,89.4737,92.3077,100.0,85.3659,78.5714,95.3488,52.2727,44.4444,100.0,91.4894,97.9167,79.5918,88.0,58.8235,80.7692,71.1538,63.4615,86.5385,84.6154,86.5385,53.8462,25.0,65.3846,50.0,100.0,80.7692,34.6154,73.0769],"confirmation":[81.8572,88.0222,9.6398,88.0845,53.5368,78.6299,92.6972,92.7322,86.4153,11.78,89.9582,33.1449,32.191,53.8205,82.1861,77.4318,81.7794,55.0342,78.5638,75.838,1.1918,91.1354,75.24,89.813,79.0675,91.716,94.8202,13.611,88.66,83.8689,31.3423,53.8813,93.741,9.0127,93.3598,11.233,80.9184,87.3068,9.2617,79.4881,50.9169,78.1192,81.9459,75.4376,51.5792,25.7274,81.0999,30.5324,83.8868,29.4907,1.018,86.1547],"persistence":[100.0,100.0,87.5,87.5,87.5,87.5,87.5,87.5,87.5,87.5,100.0,100.0,75.0,50.0,50.0,50.0,50.0,25.0,25.0,0.0,12.5,37.5,37.5,37.5,37.5,62.5,62.5,87.5,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,87.5,87.5,87.5,62.5,62.5,62.5,62.5,62.5,50.0,50.0,25.0,37.5,25.0,0.0],"assessmentRisk":[23.1292,22.8396,2.5469,10.9166,21.3663,7.5364,11.6827,11.2829,21.0569,45.3143,16.0358,25.6172,23.7641,16.6922,51.3713,5.6786,21.4641,27.2365,27.9573,29.4068,38.614,14.6374,36.8659,16.6937,32.1067,13.3662,8.5728,45.3993,17.6392,23.4261,35.1029,6.3481,9.3003,35.9728,10.2947,43.695,26.1115,18.6967,19.3765,3.3825,30.2543,33.7997,19.1766,11.8072,0.5101,39.5052,19.6023,49.6276,24.8728,35.7622,15.9754,20.2514],"volumeParticipation":true,"latest":{"consensus":-55.7,"control":-54.0,"force":-65.4,"direction":-50.8,"confirmation":86.2,"persistence":0.0,"assessmentRisk":20.3,"intensity":73.1,"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 strengthening","forceState":"Downward commitment","forcePath":"Commitment is strengthening","directionState":"Downward follow-through","persistenceState":"Unsettled","confirmationState":"Strong support","riskState":"Contained","intensityState":"Elevated"},"cards":[{"label":"SM Consensus Gauge","value":"-55.7","detail":"Market Dynamics has stronger support","tone":"negative"},{"label":"SM Control Gauge","value":"-54.0","detail":"Seller control supports the view","tone":"negative"},{"label":"SM Force Gauge","value":"-65.4","detail":"Downward commitment","tone":"negative"},{"label":"SM Direction Gauge","value":"-50.8","detail":"Downward follow-through","tone":"negative"},{"label":"SM Confirmation Gauge","value":"86/100","detail":"Strong support","tone":"positive"}]},"kpis":[{"label":"Price structure","value":"Rotational","detail":"completed-week alignment","tone":"caution"},{"label":"Momentum","value":"48.8","detail":"Negative","tone":"negative"},{"label":"Risk pressure","value":"4.2%","detail":"Elevated","tone":"caution"},{"label":"Trend quality","value":"33.1","detail":"Directional","tone":"positive"},{"label":"Range position","value":"42%","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":[10.17,9.85,10.07,10.13,10.02,10.06,10.16,10.33,10.49,10.95,11.17,11.61,11.44,11.38,11.44,11.64,11.43,11.61,11.61,11.74,12.17,12.51,12.61,12.38,12.82,12.67,12.46,12.23,12.65,12.72,12.79,12.31,12.58,12.4,12.51,13.17,13.23,13.49,13.54,14.18,15.15,14.66,14.92,15.11,14.88,14.83,15.96,15.8,16.78,16.42,16.8,17.1,16.54,16.66,16.59,15.843,16.5686,16.9463,16.7177,16.499,16.02,16.44,15.73,16.14,16.17,15.53],"stroke":"#10243b","width":2.1},{"label":"Fast 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Market Dynamics construction and private inputs are not disclosed. Historical research is not a forecast or instruction to trade."}