{"schema_version":"1.0","name":"QNTM Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"c14b7725-81c0-45f6-93e4-4f23ab9fd25b","symbol":"QNTM","name":"VanEck Quantum Computing UCITS ETF A USD Acc","exchange":"EBS","country":"CH","asset_type":"etf","currency":"CHF","sector":null,"industry":null},"summary":"Market Dynamics improved this week but remains below zero. Underlying support has contracted across the recent completed path. 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, Activity pressure and cumulative balance, Directional strength and control, Range pressure and compression, Range position and boundary pressure."},{"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":62,"displayedObservations":62,"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. 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. Underlying support has contracted across the recent completed path. 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 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Dynamics has stronger support","headline":"The gauges support the Market Dynamics view","summary":"Price structure and Market Dynamics disagree. The completed evidence gives the downward Market Dynamics view stronger support.","take":"Current assessment: the visible price structure remains vulnerable until Market Dynamics changes.","tone":"negative","supportedView":"Market Dynamics","direction":"downward","disagreement":true},"support":{"window":"Latest 12 months","controlState":"Seller control supports the view","controlPath":"Broadly stable","forceState":"Downward commitment","forcePath":"Commitment is strengthening","directionState":"Downward follow-through","persistenceState":"Unsettled","confirmationState":"Limited support","riskState":"Present","intensityState":"Elevated"},"cards":[{"label":"SM Consensus Gauge","value":"-18.5","detail":"Market Dynamics has stronger support","tone":"negative"},{"label":"SM Control Gauge","value":"-29.6","detail":"Seller control supports the view","tone":"negative"},{"label":"SM Force Gauge","value":"-52.8","detail":"Downward commitment","tone":"negative"},{"label":"SM Direction 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trend references are aligned upward.","series":[{"label":"Close","values":[16.81,16.84,17.276,17.0,17.728,17.498,17.6,17.442,17.9,17.504,17.492,17.492,17.98,20.015,20.5,21.68,21.82,21.775,21.415,22.35,20.33,19.79,18.63,20.095,20.935,20.0,20.0,20.275,20.08,21.38,21.345,20.89,19.888,19.078,18.848,18.928,19.44,18.98,18.622,18.064,17.584,18.182,19.05,21.36,21.36,21.5,22.785,22.875,25.68,25.96,25.405,25.15,25.11,24.26,24.41,23.53,21.61,21.75,22.605,23.775,24.925,23.5],"stroke":"#10243b","width":2.1},{"label":"Fast 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leadership","title":"Strength versus the research benchmark","description":"Relative performance is separated from absolute price direction to reveal leadership and lagging pressure.","reason":"Selected because benchmark-relative leadership is strengthening, fading or diverging from price.","series":[{"label":"Relative 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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,92.2696,102.1139,39.6952,103.2417,70.3123,65.74,291.2945,402.239,174.109,306.3114,184.4368,254.9647,152.218,133.378,42.8043,96.019,29.4721,39.2085,125.6715,52.5469,6.9866,44.9433,56.6696,153.185,33.8723,75.241,51.4043,49.0253,38.1942,30.2783,52.3426,60.9044,51.9157,32.3407,25.3216,53.9648,156.0447,123.1745,61.1399,218.979,206.6174,188.7216,156.5951,46.1268,16.2607,7.2916,18.8496,34.6897,3.4417,49.383,125.4525,109.3281,66.138,118.4848,62.5577],"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."}