{"schema_version":"1.0","name":"SPGI Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-14","ticker":{"uuid":"b3453e12-8097-4da2-a265-19c070912c4b","symbol":"SPGI","name":"S&P Global Inc","exchange":"NYSE","country":"US","asset_type":"equity","currency":"USD","sector":"Financial Services","industry":"Financial Data & Stock Exchanges"},"summary":"Market Dynamics eased this week but remains positive. Underlying support has contracted across the recent completed path. Price has not yet established a clear direction.","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, Drawdown and recovery pressure, Range pressure and compression, 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":"2026-08-14","observations":260,"displayedObservations":104,"assetType":"Equity","state":"Rotational","stateTone":"caution","summary":"Market Dynamics eased this week but remains positive. 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elevated relative to Market Dynamics","kind":"structuralDivergence","expectedDirection":"lower","episodes":2,"completedEpisodes":2,"activeEpisodes":0,"medianExpectedMove":20.5,"averageExpectedMove":20.5,"averageWeeksToLargestMove":9.0,"horizons":[{"weeks":4,"sample":2,"expectedCount":2,"expectedPercent":100.0,"averageReturn":-14.3,"medianReturn":-14.3,"confidenceLow":34.2,"confidenceHigh":100.0,"confidence":"Mixed historical record"},{"weeks":12,"sample":2,"expectedCount":2,"expectedPercent":100.0,"averageReturn":-13.0,"medianReturn":-13.0,"confidenceLow":34.2,"confidenceHigh":100.0,"confidence":"Mixed historical record"},{"weeks":26,"sample":2,"expectedCount":1,"expectedPercent":50.0,"averageReturn":-6.2,"medianReturn":-6.2,"confidenceLow":9.5,"confidenceHigh":90.5,"confidence":"Mixed historical record"}],"path":[{"week":0,"sample":0},{"week":1,"averageReturn":-0.2,"sample":2},{"week":2,"averageReturn":-1.2,"sample":2},{"week":3,"averageReturn":-5.2,"sample":2},{"week":4,"averageReturn":-14.3,"sample":2},{"week":5,"averageReturn":-16.0,"sample":2},{"week":6,"averageReturn":-14.8,"sample":2},{"week":7,"averageReturn":-17.2,"sample":2},{"week":8,"averageReturn":-15.0,"sample":2},{"week":9,"averageReturn":-18.0,"sample":2},{"week":10,"averageReturn":-16.2,"sample":2},{"week":11,"averageReturn":-15.4,"sample":2},{"week":12,"averageReturn":-13.0,"sample":2},{"week":13,"averageReturn":-13.1,"sample":2},{"week":14,"averageReturn":-11.7,"sample":2},{"week":15,"averageReturn":-11.9,"sample":2},{"week":16,"averageReturn":-12.3,"sample":2},{"week":17,"averageReturn":-14.5,"sample":2},{"week":18,"averageReturn":-15.8,"sample":2},{"week":19,"averageReturn":-13.2,"sample":2},{"week":20,"averageReturn":-11.5,"sample":2},{"week":21,"averageReturn":-11.7,"sample":2},{"week":22,"averageReturn":-12.4,"sample":2},{"week":23,"averageReturn":-12.2,"sample":2},{"week":24,"averageReturn":-11.4,"sample":2},{"week":25,"averageReturn":-5.3,"sample":2},{"week":26,"averageReturn":-6.2,"sample":2}]},"currentApplication":{"status":"Support weakening","tone":"caution","headline":"Positive Market Dynamics has weakened over four weeks","use":"Use the weaker four-week path as caution until price and Market Dynamics establish clearer agreement.","confirm":"Treat the weaker support as caution until price and Market Dynamics establish clearer agreement.","invalidate":"Reassess the reading when either price structure or the Market Dynamics state changes materially.","level":"positive","direction":"weakening","zone":"middle","zoneContext":"Market Dynamics remains above zero, but support has contracted across the recent completed path. Price confirmation now carries more weight.","historical":{"label":"Broad directional cases","weeks":12,"sample":0},"nowContext":{"label":"Easier this week","detail":"Market Dynamics eased this week but remains positive."},"fourWeekContext":{"label":"Weakened over four weeks","detail":"Underlying support has contracted across the recent completed path."},"priceContext":{"label":"Price has no clear direction","detail":"Price remains rotational while the Market Dynamics condition develops."}},"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":"Zone positioning","title":"Use distribution to protect capital before considering the short case","tone":"negative","finding":"After distribution, 100.0% of completed 12-week outcomes were lower across 3 cases. Distinct visits lasted 4.0 weeks on average before leaving the zone.","approach":"Review long exposure and define the evidence that would confirm a rollover. Short exposure should begin only after price weakens and the loss limit is known.","watch":"A sustained repair in price and Market Dynamics invalidates the downside setup."},{"eyebrow":"Disagreement playbook","title":"Use unsupported price strength to tighten discipline","tone":"caution","finding":"Comparable disagreements produced an average pullback of 6.8% across 19 completed cases, with the largest move arriving after 5.7 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":[],"distribution_rollovers":[{"date":"2025-09-19","price":478.444764}],"price_pressure_gaps":[{"date":"2025-02-14","price":506.378844},{"date":"2026-01-09","price":512.248682}]}},"smTape":{"available":true,"dates":["2024-08-23","2024-08-30","2024-09-06","2024-09-13","2024-09-20","2024-09-27","2024-10-04","2024-10-11","2024-10-18","2024-10-25","2024-11-01","2024-11-08","2024-11-15","2024-11-22","2024-11-29","2024-12-06","2024-12-13","2024-12-20","2024-12-27","2025-01-03","2025-01-10","2025-01-17","2025-01-24","2025-01-31","2025-02-07","2025-02-14","2025-02-21","2025-02-28","2025-03-07","2025-03-14","2025-03-21","2025-03-28","2025-04-04","2025-04-11","2025-04-18","2025-04-25","2025-05-02","2025-05-09","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","2026-02-20","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"],"close":[468.032,480.7233,478.288,486.5399,490.4925,480.2362,479.7211,488.9377,491.5509,459.527,452.6895,470.9635,471.4037,481.866,490.2592,484.8735,474.5337,461.4541,470.8275,468.7352,452.9252,470.8838,482.0399,489.2271,487.1066,506.3788,500.4771,501.7045,467.1697,457.2905,467.9968,472.3489,424.4006,437.2219,435.0976,451.19,476.2123,477.2556,491.1015,479.4082,482.9825,489.1039,472.2749,474.827,487.55,498.7568,496.3647,493.8314,503.7857,513.8717,524.4287,524.052,524.2309,517.3875,507.5952,513.4159,478.4448,459.596,452.6433,458.5772,446.3981,461.7375,459.6243,468.3129,465.9355,465.6525,471.5006,471.2075,473.58,484.5161,500.443,484.5728,512.2487,516.4171,504.3751,498.8739,415.2131,387.1025,394.6075,418.6271,428.5556,400.2574,402.0953,384.8626,408.4712,393.5595,419.2808,413.8049,403.6396,398.0121,381.9352,395.6248,402.6069,403.0247,397.7737,390.1869,387.5661,439.89,430.5,450.84,426.4,411.93,408.19,418.8],"consensus":[56.3955,69.4976,25.4966,56.3509,47.2482,0.0,16.9294,46.1994,28.4124,-55.9442,-47.3245,25.673,-8.9478,42.5774,43.2939,0.0,-22.0977,-47.8566,0.0,-13.9949,-57.9673,35.5644,35.8177,39.3369,25.4111,63.5257,8.3639,34.0464,-56.3527,-42.8514,0.0,-17.6185,-71.6065,0.0,-42.9152,8.1729,50.4996,23.0839,52.6354,0.0,18.4892,35.2648,-31.1708,0.0,35.1836,47.6961,20.6019,17.2198,45.25,45.2137,48.1023,22.7885,35.4736,0.0,-15.7091,14.1624,-64.4172,-69.3593,-55.9468,-22.5308,-62.4494,9.4243,-17.6278,12.6333,0.0,0.0,19.0841,0.0,15.2033,42.3383,59.1135,-11.8316,64.3456,43.9864,0.0,0.0,-72.4752,-69.9161,-29.1251,0.0,10.6262,-52.6154,-24.0291,-63.7391,0.0,-42.5277,32.1938,-9.0105,-30.1603,-23.4418,-52.4581,0.0,9.7317,0.0,0.0,-26.6667,-16.5868,65.7747,10.9234,53.2877,0.0,-30.6199,-20.0247,10.7021],"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","2026-02-20","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"],"control":[35.5429,0.0,-11.3132,21.7892,-56.4621,-66.0941,-54.7453,-15.1378,-61.5169,13.0251,-19.7042,11.5326,0.0,0.0,20.3241,0.0,15.1128,38.8246,65.1144,-25.4018,63.1528,42.1687,0.0,0.0,-64.7776,-64.3387,-22.6175,0.0,11.8867,-64.4175,-33.3678,-65.1159,0.0,-46.2179,31.9957,-20.7403,-34.0009,-32.1101,-52.9103,0.0,13.1569,0.0,0.0,-30.5977,-11.7731,59.1851,1.1218,51.0015,0.0,-26.6179,-19.7032,21.5853],"force":[14.9824,0.0,-34.6155,16.1792,-95.4342,-86.7374,-47.2675,-18.0101,-63.8332,57.9715,-6.6363,41.432,0.0,0.0,33.1664,0.0,22.6859,59.1254,59.5147,-43.5012,76.0785,27.1349,0.0,0.0,-99.2394,-81.5442,-15.0695,0.0,51.5358,-62.6281,-3.1779,-67.8355,0.0,-43.587,68.7109,-12.328,-36.8305,-18.4796,-58.7275,0.0,27.2485,0.0,0.0,-30.2569,-9.7973,95.4105,20.4646,51.3841,0.0,-58.2044,-23.4307,21.2119],"direction":[50.0311,0.0,-7.2286,4.0055,-51.3537,-60.6779,-63.5195,-59.9379,-62.5265,29.3675,-23.1059,6.6791,0.0,0.0,7.6081,0.0,9.9618,34.3632,51.9686,-26.2983,57.3281,58.1005,0.0,0.0,-62.1553,-67.9846,-68.13,0.0,20.0356,-31.9753,-32.79,-59.2395,0.0,-37.5537,6.3365,-6.7645,-21.0065,-17.0795,-47.4632,0.0,6.695,0.0,0.0,-19.6098,-26.9379,52.1373,44.5452,57.2602,0.0,-15.4904,-17.9594,9.2427],"intensity":[71.1538,13.4615,50.0,15.3846,94.2308,88.4615,67.3077,9.6154,42.3077,50.0,21.1538,44.2308,9.6154,23.0769,11.5385,1.9231,9.6154,44.2308,63.4615,61.5385,84.6154,78.8462,69.2308,13.4615,100.0,98.0769,78.8462,75.0,86.5385,84.6154,44.2308,63.4615,75.0,51.9231,82.6923,59.6154,32.6923,75.0,59.6154,50.0,21.1538,1.9231,11.5385,30.7692,73.0769,96.1538,94.2308,71.1538,78.8462,44.2308,71.1538,30.7692],"confirmation":[78.726,6.5404,51.0034,49.8105,89.68,90.7743,85.6568,32.5958,88.0402,33.3722,50.6076,51.6953,24.7521,24.8966,51.8505,1.4211,73.0945,82.1134,86.8371,32.8215,88.9663,81.5898,6.749,4.8433,92.125,90.8125,33.9538,37.8489,31.5689,84.9622,52.7291,88.5004,33.8073,81.5849,56.7513,49.5822,77.796,75.2181,84.9708,30.4663,50.3574,0.9416,25.4298,76.5829,73.1742,90.0515,7.054,85.0289,33.0023,78.7,74.5166,28.2176],"persistence":[100.0,87.5,62.5,62.5,37.5,12.5,12.5,37.5,62.5,50.0,50.0,50.0,37.5,25.0,0.0,12.5,37.5,37.5,62.5,37.5,50.0,62.5,50.0,50.0,25.0,0.0,25.0,12.5,12.5,37.5,50.0,62.5,50.0,50.0,25.0,37.5,62.5,62.5,62.5,50.0,37.5,25.0,37.5,37.5,37.5,12.5,12.5,25.0,12.5,0.0,12.5,12.5],"assessmentRisk":[31.7258,19.2304,39.9662,52.2212,17.728,15.308,22.0135,38.7186,18.1138,3.27,33.7549,26.1288,49.403,17.5755,26.9207,9.0801,19.5663,27.307,20.3695,50.7873,17.7166,27.7971,15.0665,39.9386,13.7138,15.0367,35.4127,51.1367,17.0703,47.9361,25.0303,10.2512,33.0808,9.1295,10.9089,42.9727,6.6604,23.8505,22.5934,40.6294,8.1113,14.3693,44.6233,5.4206,32.7286,15.4089,42.0545,23.2642,51.8129,29.7339,31.376,52.3752],"volumeParticipation":true,"latest":{"consensus":10.7,"control":21.6,"force":21.2,"direction":9.2,"confirmation":28.2,"persistence":12.5,"assessmentRisk":52.4,"intensity":30.8,"evidenceDepth":100},"analysis":{"status":"Market Dynamics has stronger support","headline":"The gauges support the upward view","summary":"The completed evidence gives the upward view the clearer support.","take":"Current assessment: upward pressure has the stronger support.","tone":"positive","supportedView":"Market Dynamics","direction":"upward","disagreement":false},"support":{"window":"Latest 12 months","controlState":"Buyer control supports the view","controlPath":"Control support is easing","forceState":"Upward commitment","forcePath":"Commitment is easing","directionState":"Follow-through is limited","persistenceState":"Unsettled","confirmationState":"Limited support","riskState":"Present","intensityState":"Quiet"},"cards":[{"label":"SM Consensus Gauge","value":"+10.7","detail":"Market Dynamics has stronger support","tone":"positive"},{"label":"SM Control Gauge","value":"+21.6","detail":"Buyer control supports the view","tone":"positive"},{"label":"SM Force Gauge","value":"+21.2","detail":"Upward commitment","tone":"positive"},{"label":"SM Direction Gauge","value":"+9.2","detail":"Follow-through is limited","tone":"positive"},{"label":"SM Confirmation Gauge","value":"28/100","detail":"Limited support","tone":"caution"}]},"kpis":[{"label":"Price structure","value":"Rotational","detail":"completed-week alignment","tone":"caution"},{"label":"Momentum","value":"49.5","detail":"Negative","tone":"negative"},{"label":"Risk pressure","value":"6.6%","detail":"Elevated","tone":"caution"},{"label":"Trend quality","value":"20.7","detail":"Range-led","tone":"neutral"},{"label":"Range position","value":"51%","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 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