{"schema_version":"1.0","name":"IQMA Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"a5e10ea7-7eaf-4189-a32d-96d4dcd9c661","symbol":"IQMA","name":"INVESCO MARKETS II PLC INVESCO","exchange":"LSE","country":"GB","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. The upward price structure is leading its underlying support.","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, Range pressure and compression, Directional strength and control, Acceleration, deceleration and rollover."},{"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":47,"displayedObservations":47,"assetType":"ETF","state":"Aligned upward","stateTone":"positive","summary":"Market Dynamics improved this week but remains below zero. Underlying support has contracted across the recent completed path. The upward price structure is leading its underlying support.","evidenceAlignment":{"status":"Price ahead of underlying support","headline":"The upward price response is leading Market Dynamics","summary":"Market Dynamics improved this week but remains below zero. Underlying support has contracted across the recent completed path. The upward price structure is leading its underlying support.","take":"Treat the gap as an early-downside risk watch. Stronger Market Dynamics would confirm the price move; a weaker price response would confirm that the gap is closing through correction.","tone":"caution","conflict":true},"marketDynamics":{"available":true,"readAvailable":true,"dates":["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":[0.113724,0.187523,0.324136,0.497074,0.505475,0.611676,0.743621,0.703405,0.801242,0.855251,0.813706,0.863145,0.768884,0.455801,0.173521,-0.121928,-0.398325,-0.399522,-0.324918],"opens":[5.767,6.058,6.1115,6.288,6.565,6.286,6.638,6.456,6.578,6.907,6.658,6.703,6.576,6.247,6.2825,6.335,6.28,6.5,6.711],"highs":[6.1235,6.107,6.241,6.511,6.565,6.4395,6.73,6.456,6.6765,6.907,6.658,6.703,6.6115,6.247,6.45,6.335,6.4995,6.5995,6.711],"lows":[5.767,6.054,6.0335,6.288,6.308,6.1935,6.592,6.456,6.578,6.907,6.658,6.6915,6.576,6.2255,6.265,6.0295,6.2775,6.4345,6.488],"closes":[6.1235,6.0985,6.1845,6.5095,6.3205,6.4395,6.6985,6.456,6.6765,6.907,6.658,6.6915,6.6115,6.2255,6.318,6.2675,6.4615,6.576,6.62],"hoverRows":[[{"label":"Open","value":"5.77","className":"is-ohlc","compact":true},{"label":"High","value":"6.12","className":"is-ohlc","compact":true},{"label":"Low","value":"5.77","className":"is-ohlc","compact":true},{"label":"Close","value":"6.12","className":"is-ohlc","compact":true},{"label":"Market 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but easing","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"6.33","className":"is-ohlc","compact":true},{"label":"High","value":"6.33","className":"is-ohlc","compact":true},{"label":"Low","value":"6.03","className":"is-ohlc","compact":true},{"label":"Close","value":"6.27","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.12","note":"Cautious and weakening","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"6.28","className":"is-ohlc","compact":true},{"label":"High","value":"6.50","className":"is-ohlc","compact":true},{"label":"Low","value":"6.28","className":"is-ohlc","compact":true},{"label":"Close","value":"6.46","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.40","note":"Cautious and weakening","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"6.50","className":"is-ohlc","compact":true},{"label":"High","value":"6.60","className":"is-ohlc","compact":true},{"label":"Low","value":"6.43","className":"is-ohlc","compact":true},{"label":"Close","value":"6.58","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.40","note":"Cautious and weakening","className":"is-negative","wide":true},{"label":"Signal / event","value":"Reversal warning","className":"is-caution","wide":true}],[{"label":"Open","value":"6.71","className":"is-ohlc","compact":true},{"label":"High","value":"6.71","className":"is-ohlc","compact":true},{"label":"Low","value":"6.49","className":"is-ohlc","compact":true},{"label":"Close","value":"6.62","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.32","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":[6.04999,6.95551],"zones":{"accumulationBoundary":-1.5,"accumulationDarkBoundary":-2.0,"distributionBoundary":1.5,"distributionDarkBoundary":2.0},"latest":-0.324918,"state":"Price is moving ahead of Market Dynamics","context":{"scenario":"priceAhead","latestDirection":"strengthening","fourWeekDirection":"weakening","now":{"label":"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 is ahead of the underlying support","detail":"Price is extended relative to Market Dynamics. The gap is a downside-risk warning until support catches up or price resets."}},"diagnosis":{"label":"Price response ahead of support","detail":"Price has advanced further through its recent range than Market Dynamics. The gap is an early-downside risk watch; stronger underlying support or a price reset is needed to close it.","tone":"caution"},"chartSummary":"Price is between the outer positioning zones. The Market Dynamics bars show whether underlying support is strengthening or weakening.","summary":"Price has advanced further through its recent range than Market Dynamics. The gap is an early-downside risk watch; stronger underlying support or a price reset is needed to close it.","annotations":[{"label":"Current tape relationship","value":"Price response ahead of support","detail":"Market Dynamics improved this week but remains below zero.","tone":"caution"},{"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":"Lagging price","detail":"Price is extended relative to Market Dynamics. The gap is a downside-risk warning until support catches up or price resets.","tone":"negative"}],"relationshipEvidence":{"available":false,"observations":19,"summary":"More completed weekly history is needed for a dependable ticker-level record."},"events":{"positioning_recoveries":[],"reversal_warnings":[{"date":"2026-05-29","price":6.6985},{"date":"2026-08-14","price":6.576}],"reversal_dangers":[{"date":"2026-06-05","price":6.456}]}},"smTape":{"available":true,"dates":["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":[5.085,4.953,5.059,5.1295,5.1555,5.0415,5.165,4.9437,5.095,5.1565,5.095,5.1235,5.1685,5.309,5.4195,5.5,5.5925,5.6955,5.721,5.8315,5.9565,6.019,5.525,5.476,5.4275,5.3385,5.4355,5.825,6.1235,6.0985,6.1845,6.5095,6.3205,6.4395,6.6985,6.456,6.6765,6.907,6.658,6.6915,6.6115,6.2255,6.318,6.2675,6.4615,6.576,6.62],"consensus":[0.0,-100.0,37.5271,53.0,56.3289,-33.5756,41.6637,-78.0602,28.2156,58.4907,-35.6842,35.7611,57.862,76.6638,77.5087,64.2589,83.5294,67.0277,64.3207,75.8033,76.4437,54.22,-44.81,-34.4468,-42.7174,-57.0389,0.0,68.2246,79.6137,45.7821,57.469,84.4476,0.0,66.9712,72.8469,10.2461,68.9339,53.9071,9.6309,23.1584,21.5392,-65.0184,0.0,-28.6936,20.794,48.29,27.978],"supportDates":["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,null,null,null,-53.7896,30.5153,-66.0657,47.6308,59.9426,-22.6832,27.1968,59.6512,83.5737,69.8404,45.8437,84.7679,53.6402,69.7941,69.1539,84.1428,46.8359,-48.5677,-31.1,-40.7797,-54.0523,0.0,63.9882,83.4505,48.6395,57.7334,88.7086,0.0,71.7764,69.9443,11.916,77.7249,53.2779,10.9393,10.3698,36.4277,-67.1386,0.0,-14.754,38.3949,43.5129,20.8418],"force":[0.0,-100.0,37.5271,53.0,0.6734,-37.2147,19.7374,-99.8002,44.1444,51.6741,-84.6863,35.7615,57.3911,63.8783,82.483,66.4536,90.7541,73.2822,36.9005,81.4695,57.0688,29.0378,-67.7783,-36.3468,-42.9378,-65.1922,0.0,98.79,97.6279,17.1881,46.7023,95.8915,0.0,61.9974,81.3073,27.6251,61.7013,34.4711,26.9913,1.2117,1.0472,-86.401,0.0,-31.9794,32.5328,74.5148,27.228],"direction":[null,null,null,null,97.0447,-7.8746,70.0664,-76.2397,5.3507,61.7005,-15.5409,45.5487,56.1536,77.8991,82.7194,83.7373,76.9535,77.8602,77.6513,79.3554,81.4839,80.6462,-24.1096,-36.9147,-44.7745,-54.6285,0.0,51.2338,62.3615,62.9407,64.8573,71.4037,0.0,65.0323,70.1211,35.3886,64.0531,68.5092,34.2942,53.4502,20.657,-47.322,0.0,-42.2776,7.706,35.0175,36.6695],"intensity":[null,null,null,null,75.0,100.0,66.6667,100.0,87.5,11.1111,10.0,54.5455,58.3333,84.6154,92.8571,60.0,18.75,100.0,27.7778,78.9474,55.0,85.7143,100.0,82.6087,4.1667,48.0,23.0769,96.2963,92.8571,89.6552,60.0,90.3226,75.0,48.4848,97.0588,82.8571,75.0,91.8919,78.9474,2.5641,27.5,92.6829,69.0476,76.7442,77.2727,55.5556,23.913],"confirmation":[0.0,54.6667,34.6753,39.6267,38.3016,55.8804,80.834,93.8246,55.6934,86.4872,81.1104,79.5741,86.4742,92.0375,93.0712,88.9104,94.9307,89.8435,87.6636,92.5311,91.7542,84.6955,82.9819,79.1319,81.7058,86.5464,30.7887,90.8279,93.9669,81.7353,86.0579,95.3071,35.296,89.206,91.6131,30.6592,89.7045,84.6675,30.3706,52.2701,51.5341,89.4252,7.6886,77.4945,53.7209,84.3248,44.64],"persistence":[null,null,0.0,25.0,40.0,16.6667,28.5714,12.5,25.0,50.0,25.0,25.0,25.0,50.0,50.0,75.0,75.0,75.0,100.0,100.0,100.0,100.0,75.0,50.0,25.0,0.0,12.5,12.5,12.5,12.5,12.5,37.5,50.0,75.0,87.5,87.5,87.5,87.5,87.5,87.5,100.0,75.0,62.5,37.5,37.5,37.5,37.5],"assessmentRisk":[null,null,null,null,4.3346,52.9284,18.2011,6.1457,35.8888,7.2856,8.5644,28.0383,0.3336,5.6226,11.0426,17.8007,8.2056,16.4188,17.6509,12.002,11.7779,22.8896,19.7213,31.6509,28.5059,21.4572,26.7978,13.4696,10.0928,27.0549,21.206,7.6016,32.8435,11.9276,12.3918,18.6202,13.0635,22.2782,14.3718,28.8164,26.7274,17.3071,42.5549,33.6838,41.6377,22.9652,31.52],"volumeParticipation":true,"latest":{"consensus":28.0,"control":20.8,"force":27.2,"direction":36.7,"confirmation":44.6,"persistence":37.5,"assessmentRisk":31.5,"intensity":23.9,"evidenceDepth":100},"analysis":{"status":"Price structure has stronger support","headline":"The gauges support the price-technical view","summary":"Price structure and Market Dynamics disagree. The completed evidence gives the upward price structure stronger support.","take":"Current assessment: price structure remains primary, but the disagreement lowers confirmation.","tone":"positive","supportedView":"Price structure","direction":"upward","disagreement":true},"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":"Unsettled","confirmationState":"Qualified support","riskState":"Contained","intensityState":"Quiet"},"cards":[{"label":"SM Consensus Gauge","value":"+28.0","detail":"Price structure has stronger support","tone":"positive"},{"label":"SM Control Gauge","value":"+20.8","detail":"Buyer control supports the view","tone":"positive"},{"label":"SM Force Gauge","value":"+27.2","detail":"Upward commitment","tone":"positive"},{"label":"SM Direction Gauge","value":"+36.7","detail":"Upward follow-through","tone":"positive"},{"label":"SM Confirmation Gauge","value":"45/100","detail":"Qualified support","tone":"neutral"}]},"kpis":[{"label":"Price structure","value":"Aligned upward","detail":"completed-week alignment","tone":"positive"},{"label":"Momentum","value":"58.4","detail":"Positive","tone":"positive"},{"label":"Risk pressure","value":"3.2%","detail":"Elevated","tone":"caution"},{"label":"Trend quality","value":"23.0","detail":"Range-led","tone":"neutral"},{"label":"Range position","value":"82%","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 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Market Dynamics construction and private inputs are not disclosed. Historical research is not a forecast or instruction to trade."}