{"schema_version":"1.0","name":"EUCL Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"a4025eb7-2ff2-46e2-b7ec-387a6178ff59","symbol":"EUCL","name":"iShares  AAA CLO Active UCITS E","exchange":"MIL","country":"IT","asset_type":"etf","currency":"EUR","sector":null,"industry":null},"summary":"Market Dynamics strengthened this week and remains positive. Underlying support has strengthened across the recent completed path. The completed evidence supports the upward price structure.","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, Directional strength and control, Activity pressure and cumulative balance, Range position and boundary pressure, Directional pressure and rotation, Range pressure and compression."},{"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":55,"displayedObservations":55,"assetType":"ETF","state":"Aligned upward","stateTone":"positive","summary":"Market Dynamics strengthened this week and remains positive. 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evidence"},{"weeks":26,"sample":0,"expectedCount":0,"confidence":"Not enough evidence"}],"path":[{"week":0,"sample":0},{"week":1,"sample":0},{"week":2,"sample":0},{"week":3,"sample":0},{"week":4,"sample":0},{"week":5,"sample":0},{"week":6,"sample":0},{"week":7,"sample":0},{"week":8,"sample":0},{"week":9,"sample":0},{"week":10,"sample":0},{"week":11,"sample":0},{"week":12,"sample":0},{"week":13,"sample":0},{"week":14,"sample":0},{"week":15,"sample":0},{"week":16,"sample":0},{"week":17,"sample":0},{"week":18,"sample":0},{"week":19,"sample":0},{"week":20,"sample":0},{"week":21,"sample":0},{"week":22,"sample":0},{"week":23,"sample":0},{"week":24,"sample":0},{"week":25,"sample":0},{"week":26,"sample":0}]},"dynamicsAhead":{"label":"Price cautious, Market Dynamics positive","kind":"disagreement","expectedDirection":"higher","episodes":1,"completedEpisodes":1,"activeEpisodes":0,"medianExpectedMove":0.9,"averageExpectedMove":0.9,"averageWeeksToLargestMove":12.0,"horizons":[{"weeks":4,"sample":1,"expectedCount":1,"expectedPercent":100.0,"averageReturn":0.3,"medianReturn":0.3,"confidenceLow":20.7,"confidenceHigh":100.0,"confidence":"Mixed historical record"},{"weeks":12,"sample":1,"expectedCount":1,"expectedPercent":100.0,"averageReturn":0.9,"medianReturn":0.9,"confidenceLow":20.7,"confidenceHigh":100.0,"confidence":"Mixed historical record"},{"weeks":26,"sample":0,"expectedCount":0,"confidence":"Not enough evidence"}],"path":[{"week":0,"sample":0},{"week":1,"averageReturn":-0.0,"sample":1},{"week":2,"averageReturn":0.1,"sample":1},{"week":3,"averageReturn":0.1,"sample":1},{"week":4,"averageReturn":0.3,"sample":1},{"week":5,"averageReturn":0.4,"sample":1},{"week":6,"averageReturn":0.4,"sample":1},{"week":7,"averageReturn":0.5,"sample":1},{"week":8,"averageReturn":0.6,"sample":1},{"week":9,"averageReturn":0.7,"sample":1},{"week":10,"averageReturn":0.7,"sample":1},{"week":11,"averageReturn":0.8,"sample":1},{"week":12,"averageReturn":0.9,"sample":1},{"week":13,"averageReturn":1.0,"sample":1},{"week":14,"averageReturn":1.1,"sample":1},{"week":15,"averageReturn":1.1,"sample":1},{"week":16,"averageReturn":1.2,"sample":1},{"week":17,"averageReturn":1.3,"sample":1},{"week":18,"averageReturn":1.3,"sample":1},{"week":19,"averageReturn":1.3,"sample":1},{"week":20,"averageReturn":1.4,"sample":1},{"week":21,"averageReturn":1.5,"sample":1},{"week":22,"averageReturn":1.6,"sample":1},{"week":23,"sample":0},{"week":24,"sample":0},{"week":25,"sample":0},{"week":26,"sample":0}]}},"pricePressureGap":{"label":"Price elevated relative to Market Dynamics","kind":"structuralDivergence","expectedDirection":"lower","episodes":0,"completedEpisodes":0,"activeEpisodes":0,"horizons":[{"weeks":4,"sample":0,"expectedCount":0,"confidence":"Not enough evidence"},{"weeks":12,"sample":0,"expectedCount":0,"confidence":"Not enough evidence"},{"weeks":26,"sample":0,"expectedCount":0,"confidence":"Not enough evidence"}],"path":[{"week":0,"sample":0},{"week":1,"sample":0},{"week":2,"sample":0},{"week":3,"sample":0},{"week":4,"sample":0},{"week":5,"sample":0},{"week":6,"sample":0},{"week":7,"sample":0},{"week":8,"sample":0},{"week":9,"sample":0},{"week":10,"sample":0},{"week":11,"sample":0},{"week":12,"sample":0},{"week":13,"sample":0},{"week":14,"sample":0},{"week":15,"sample":0},{"week":16,"sample":0},{"week":17,"sample":0},{"week":18,"sample":0},{"week":19,"sample":0},{"week":20,"sample":0},{"week":21,"sample":0},{"week":22,"sample":0},{"week":23,"sample":0},{"week":24,"sample":0},{"week":25,"sample":0},{"week":26,"sample":0}]},"currentApplication":{"status":"Evidence aligned","tone":"positive","headline":"Price and Market Dynamics remain aligned upward","use":"The advance retains underlying support while price structure and Market Dynamics remain intact.","confirm":"The advance remains supported. Reclassify it only if the broader Market Dynamics path weakens or price structure breaks.","invalidate":"Reassess the reading when either price structure or the Market Dynamics state changes materially.","level":"positive","direction":"strengthening","zone":"distribution","zoneContext":"Price is inside distribution conditions, but Market Dynamics still offers support. Extension can persist; a rollover has not been confirmed.","historical":{"label":"Broad directional cases","weeks":12,"direction":"higher","percent":100.0,"averageReturn":1.0,"sample":1},"nowContext":{"label":"Slightly stronger this week","detail":"Market Dynamics strengthened this week and remains positive."},"fourWeekContext":{"label":"Strengthened over four weeks","detail":"Underlying support has strengthened across the recent completed path."},"priceContext":{"label":"Price structure is upward","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":"Trend participation","title":"Let confirmation support the position, then manage extension","tone":"positive","approach":"This is most useful for holding or selectively adding to an established upward case. Risk should still tighten as price becomes extended; confirmation is support, not immunity from reversal.","finding":"In this ticker's completed record, 100.0% of comparable cases moved higher after 12 weeks, with an average move of 1.0% across 1 cases.","watch":"Reassess the reading when either price structure or the Market Dynamics state changes materially."},{"eyebrow":"Disagreement playbook","title":"Use improving Market Dynamics to prepare, not anticipate","tone":"recovery","finding":"Comparable disagreements produced an average recovery of 0.9% across 1 completed cases, with the largest move arriving after 12.0 weeks on average.","approach":"Define the price level that would confirm the repair. Until that response occurs, keep the idea at watchlist or starter-position size.","watch":"The early repair fails if Market Dynamics fades before price responds."}]},"summary":"This record compares the ticker's completed price path with its published Market Dynamics history."},"events":{"positioning_recoveries":[{"date":"2026-04-17","price":1025.47998}],"reversal_warnings":[],"reversal_dangers":[]}},"smTape":{"available":true,"dates":["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","2026-08-21"],"close":[1004.94,1005.02,1006.59,1006.0,1006.73,1006.92,1007.96,1008.35,1009.65,1010.7,1010.12,1012.08,1011.56,1011.9,1012.54,1013.35,1013.89,1014.65,1015.36,1016.35,1016.99,1017.33,1018.42,1019.37,1020.2,1021.62,1021.69,1023.09,1023.09,1023.9,1022.54,1022.23,1022.62,1022.26,1023.4,1023.77,1025.48,1026.33,1026.83,1027.9399,1029.04,1029.96,1029.79,1031.27,1032.05,1033.0699,1033.61,1033.7,1034.62,1035.77,1035.5601,1035.84,1037.1899,1037.78,1038.76],"consensus":[100.0,-66.0907,100.0,100.0,95.6087,62.9344,87.2595,72.0047,87.7088,90.7276,32.0021,82.6634,27.2695,72.3284,77.3409,76.9745,73.8346,71.4915,70.4779,81.5113,83.2949,67.9198,72.4768,72.945,83.5452,83.9253,31.1096,75.5209,37.6929,64.3602,13.8361,27.306,25.0697,0.0,52.4973,49.1361,66.223,53.2522,37.7925,38.3261,51.9105,62.5034,17.2176,62.9842,48.984,35.5324,59.6151,39.3019,47.9623,47.6828,22.6355,34.1685,53.4329,43.8307,57.4625],"supportDates":["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","2026-08-21"],"control":[null,null,55.9621,88.4091,69.1273,88.3273,91.3312,12.3326,93.9757,6.7252,71.8643,78.2996,85.3432,70.6687,64.2985,62.225,81.5427,84.4946,76.1582,64.831,65.1747,84.8323,85.0944,12.4219,69.1397,27.9723,70.7972,19.4417,45.6683,34.4809,0.0,47.054,59.7613,81.3636,55.4555,32.7768,27.7792,52.0954,72.7436,1.7915,66.2773,35.0034,22.8652,59.4377,36.4944,47.7788,28.3993,14.9808,23.9682,55.8274,41.3687,63.7462],"force":[100.0,91.9293,55.815,93.5693,62.3096,88.6611,93.2691,7.5817,57.2346,17.0419,61.6375,66.5116,54.5419,79.7188,78.8318,77.2855,87.7329,89.7204,42.3155,78.0828,79.2075,89.6957,88.7232,3.9986,82.4476,2.0683,44.9462,49.6098,2.8041,7.7232,0.0,77.1687,36.6073,56.4726,42.8264,17.02,25.1383,38.5384,45.2053,18.5354,57.1291,51.4519,15.1894,52.6426,11.3328,26.3607,54.2475,16.1323,19.2453,41.3532,28.2079,42.4455],"direction":[null,98.2368,75.9881,81.4388,82.2182,86.3217,88.2224,82.7558,87.8984,82.3997,80.4952,83.9806,83.4336,73.2498,74.469,75.0471,77.0314,77.3343,76.7932,77.2105,77.3521,77.681,79.1623,77.5443,77.866,74.2484,70.8706,52.7482,23.8219,26.7043,0.0,41.0957,45.9422,55.8841,58.1813,58.3623,59.7997,61.2507,63.1561,60.3853,63.4029,63.1989,64.5398,64.7984,62.4885,63.6018,65.0321,59.0751,56.4854,59.3248,57.8035,61.0076],"intensity":[null,50.0,80.0,83.3333,14.2857,87.5,55.5556,30.0,100.0,41.6667,7.6923,35.7143,46.6667,43.75,70.5882,38.8889,68.4211,25.0,52.381,95.4545,60.8696,45.8333,88.0,96.1538,81.4815,3.5714,55.1724,80.0,74.1935,71.875,18.1818,67.6471,100.0,94.4444,83.7838,86.8421,100.0,62.5,41.4634,66.6667,79.0698,95.4545,73.3333,8.6957,48.9362,37.5,71.4286,90.0,7.8431,67.3077,50.0,38.4615],"confirmation":[54.6667,75.7599,88.0283,96.0978,90.7899,96.0864,97.1011,56.2848,93.5049,11.3245,90.8264,92.4045,91.8207,91.8546,91.2106,90.8861,94.2727,94.8319,88.8285,91.4799,91.6517,94.9023,94.9845,55.3562,92.475,56.4575,87.9055,35.6586,53.0447,52.6836,29.4848,85.634,83.1798,88.6635,84.6894,79.537,80.0232,84.201,87.3179,8.6093,87.9263,83.9631,78.9434,86.8671,79.767,82.6924,83.7524,32.2867,78.6345,84.6939,81.5872,93.8346],"persistence":[50.0,60.0,66.6667,71.4286,75.0,75.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,87.5,87.5,87.5,87.5,87.5,87.5,87.5,87.5,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0],"assessmentRisk":[null,1.0778,18.0186,4.401,13.925,6.1302,4.6354,33.7679,8.6599,35.3875,9.1482,11.1182,8.4271,12.9934,14.2289,14.7432,9.2344,8.3456,16.0213,13.7558,13.5263,8.2274,8.0373,34.4452,12.2396,31.1534,17.818,34.8136,54.5846,40.7735,52.3966,13.5752,23.6411,16.7835,23.3681,31.087,30.8338,24.0337,18.7394,41.3331,18.5048,25.5051,32.232,20.1924,30.3423,26.0159,26.1582,38.6354,32.8895,23.2765,28.0365,21.2682],"volumeParticipation":true,"latest":{"consensus":57.5,"control":63.7,"force":42.4,"direction":61.0,"confirmation":93.8,"persistence":100.0,"assessmentRisk":21.3,"intensity":38.5,"evidenceDepth":100},"analysis":{"status":"Joint upward confirmation","headline":"The gauges support the upward market view","summary":"Price structure and Market Dynamics agree. Control, force and direction support the same upward assessment.","take":"Current assessment: upward pressure has broad support.","tone":"positive","supportedView":"Price structure and Market Dynamics","direction":"upward","disagreement":false},"support":{"window":"Latest 12 months","controlState":"Buyer control supports the view","controlPath":"Control support is strengthening","forceState":"Upward commitment","forcePath":"Commitment is strengthening","directionState":"Upward follow-through","persistenceState":"Established","confirmationState":"Strong support","riskState":"Contained","intensityState":"Normal"},"cards":[{"label":"SM Consensus Gauge","value":"+57.5","detail":"Joint upward confirmation","tone":"positive"},{"label":"SM Control Gauge","value":"+63.7","detail":"Buyer control supports the view","tone":"positive"},{"label":"SM Force Gauge","value":"+42.4","detail":"Upward commitment","tone":"positive"},{"label":"SM Direction Gauge","value":"+61.0","detail":"Upward follow-through","tone":"positive"},{"label":"SM Confirmation Gauge","value":"94/100","detail":"Strong support","tone":"positive"}]},"kpis":[{"label":"Price structure","value":"Aligned upward","detail":"completed-week alignment","tone":"positive"},{"label":"Momentum","value":"93.9","detail":"Stretched positive","tone":"positive"},{"label":"Risk pressure","value":"0.2%","detail":"Elevated","tone":"caution"},{"label":"Trend quality","value":"77.0","detail":"Directional","tone":"positive"},{"label":"Range position","value":"98%","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 upward.","series":[{"label":"Close","values":[1004.94,1005.02,1006.59,1006.0,1006.73,1006.92,1007.96,1008.35,1009.65,1010.7,1010.12,1012.08,1011.56,1011.9,1012.54,1013.35,1013.89,1014.65,1015.36,1016.35,1016.99,1017.33,1018.42,1019.37,1020.2,1021.62,1021.69,1023.09,1023.09,1023.9,1022.54,1022.23,1022.62,1022.26,1023.4,1023.77,1025.48,1026.33,1026.83,1027.9399,1029.04,1029.96,1029.79,1031.27,1032.05,1033.0699,1033.61,1033.7,1034.62,1035.77,1035.5601,1035.84,1037.1899,1037.78,1038.76],"stroke":"#10243b","width":2.1},{"label":"Fast trend","values":[null,null,null,null,1005.6319,1005.8661,1006.2468,1006.6292,1007.1785,1007.8187,1008.2372,1008.9359,1009.413,1009.8652,1010.3515,1010.8967,1011.4409,1012.0244,1012.6309,1013.3071,1013.9767,1014.5864,1015.2834,1016.0264,1016.7853,1017.6643,1018.3962,1019.2497,1019.9479,1020.6665,1021.0071,1021.2295,1021.4823,1021.6237,1021.9467,1022.2782,1022.8603,1023.4912,1024.0982,1024.7967,1025.5682,1026.3667,1026.9891,1027.7675,1028.5461,1029.3686,1030.1398,1030.7871,1031.484,1032.2633,1032.8627,1033.404,1034.0924,1034.7628,1035.4896],"stroke":"#176fa3","width":1.7},{"label":"Slow trend","values":[null,null,null,null,null,null,null,null,null,null,null,null,1007.4127,1007.7451,1008.1003,1008.4892,1008.8892,1009.3159,1009.7637,1010.2515,1010.7507,1011.238,1011.77,1012.333,1012.9157,1013.5605,1014.1627,1014.824,1015.4363,1016.0632,1016.543,1016.9642,1017.3832,1017.7444,1018.1634,1018.5787,1019.0899,1019.6262,1020.1598,1020.7361,1021.3512,1021.9889,1022.5668,1023.2114,1023.8662,1024.5479,1025.2192,1025.8474,1026.4972,1027.1841,1027.8045,1028.3997,1029.0509,1029.6975,1030.3688],"stroke":"#07865c","width":1.8},{"label":"Upper envelope","values":[null,null,null,null,null,null,null,null,null,1010.8665,1011.3264,1012.3268,1012.8569,1013.3394,1013.8658,1014.4703,1015.0685,1015.7141,1016.3853,1017.1393,1017.8905,1018.5171,1019.3581,1020.1384,1020.9617,1021.8951,1022.7085,1023.6465,1024.4797,1025.3775,1025.7448,1026.1046,1026.3259,1026.3664,1026.4873,1026.5961,1026.903,1027.2874,1027.6686,1028.24,1028.9493,1029.6961,1030.3143,1031.2028,1032.1498,1033.2525,1034.2756,1035.2151,1036.1883,1037.277,1038.0465,1038.6456,1039.3401,1039.8555,1040.4618],"stroke":"#98a9b8","width":1.0,"dash":[6,5]},{"label":"Lower envelope","values":[null,null,null,null,null,null,null,null,null,1003.7055,1003.7608,1003.5165,1003.5462,1003.592,1003.6089,1003.581,1003.555,1003.5026,1003.4368,1003.3267,1003.7805,1004.3849,1004.7269,1005.2836,1005.8073,1006.3439,1006.9035,1007.4395,1007.9503,1008.3725,1009.2472,1009.9024,1010.7871,1011.7826,1012.7477,1013.6809,1014.533,1015.3166,1016.0824,1016.67,1017.1657,1017.6818,1018.2007,1018.5022,1018.7402,1018.7825,1018.9514,1019.0729,1019.2526,1019.351,1019.8835,1020.6454,1021.4079,1022.4445,1023.3742],"stroke":"#98a9b8","width":1.0,"dash":[6,5]}],"guides":[],"dates":["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","2026-08-21"]},{"key":"directional","eyebrow":"Trend quality","title":"Directional strength and control","description":"Directional pressure shows which side controls the tape while strength remains direction-neutral.","reason":"Selected because directional control or trend strength is materially changing.","series":[{"label":"Trend strength","values":[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,90.2096,90.6937,91.152,90.1784,88.9929,87.8921,87.1206,85.5533,82.6673,80.139,78.3997,77.2076,76.3376,75.9961,75.6791,75.3847,75.3296,75.2997,75.563,75.8206,75.4455,75.0971,74.9558,75.0603,75.3945,75.765,76.1091,76.506,76.9717],"stroke":"#10243b","width":2.0},{"label":"Positive 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pressure and cumulative 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,0.0,0.0,0.0,582.5784,103.1847,565.8273,12.4777,13.2509,0.0,172.6984,55.3846,277.1353,284.1037,281.0078,0.0,186.3799,110.2804,84.154,369.3431,57.1429,202.8241,1334.3303,7.2371,107.8044,1.255,15.7377,72.1367,370.829,4.462,0.0,24.4238,0.3506,20.2307,9.4271,6.8654,25.8088,17.122,92.8521,7.3059,39.3218,0.0,0.0,270.3119,519.7847,156.5421,18.7135,34.4828,15.1448],"stroke":"#1678a7","width":1.8},{"label":"Cumulative 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Market Dynamics construction and private inputs are not disclosed. Historical research is not a forecast or instruction to trade."}