{"schema_version":"1.0","name":"SPMO Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"c1932926-6265-480c-a9ed-31f8b8f0c700","symbol":"SPMO","name":"Invesco S&P 500 Momentum ETF","exchange":"MEX","country":"MX","asset_type":"etf","currency":"MXN","sector":null,"industry":null},"summary":"Market Dynamics weakened this week and 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, Acceleration, deceleration and rollover, Directional strength and control, Activity pressure and cumulative balance, Range position and boundary pressure, Drawdown and recovery 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":43,"displayedObservations":43,"assetType":"ETF","state":"Rotational","stateTone":"caution","summary":"Market Dynamics weakened this week and 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 weakened this week and 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 warning.","tone":"negative","conflict":true},"marketDynamics":{"available":true,"readAvailable":true,"dates":["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":[0.517848,0.683444,0.654255,0.612982,0.491994,0.353369,0.247587,0.053548,0.044226,0.02206,-0.13971,-0.238977,-0.345181,-0.428228,-0.439275],"opens":[2469.700439,2496.657715,2545.969482,2710.70874,2628.838379,2681.754639,2775.0,2680.0,2700.0,2520.0,2545.0,2620.0,2510.0,2561.0,2645.0],"highs":[2469.700439,2535.985352,2650.803411,2710.70874,2628.838379,2681.754639,2830.350098,2680.0,2700.0,2685.98999,2625.0,2620.0,2665.0,2628.0,2651.0],"lows":[2469.700439,2464.099121,2545.969482,2710.70874,2628.838379,2681.754639,2715.0,2680.0,2700.0,2500.0,2540.0,2414.0,2450.0,2538.0,2512.0],"closes":[2469.700439,2535.985352,2620.85083,2710.70874,2628.838379,2681.754639,2715.0,2680.0,2700.0,2685.98999,2620.0,2510.0,2561.0,2605.0,2518.5],"hoverRows":[[{"label":"Open","value":"2,470","className":"is-ohlc","compact":true},{"label":"High","value":"2,470","className":"is-ohlc","compact":true},{"label":"Low","value":"2,470","className":"is-ohlc","compact":true},{"label":"Close","value":"2,470","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.52","note":"Supportive and strengthening","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"2,497","className":"is-ohlc","compact":true},{"label":"High","value":"2,536","className":"is-ohlc","compact":true},{"label":"Low","value":"2,464","className":"is-ohlc","compact":true},{"label":"Close","value":"2,536","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.68","note":"Supportive and strengthening","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"2,546","className":"is-ohlc","compact":true},{"label":"High","value":"2,651","className":"is-ohlc","compact":true},{"label":"Low","value":"2,546","className":"is-ohlc","compact":true},{"label":"Close","value":"2,621","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.65","note":"Supportive but easing","className":"is-positive","wide":true},{"label":"Signal / event","value":"Reversal warning","className":"is-caution","wide":true}],[{"label":"Open","value":"2,711","className":"is-ohlc","compact":true},{"label":"High","value":"2,711","className":"is-ohlc","compact":true},{"label":"Low","value":"2,711","className":"is-ohlc","compact":true},{"label":"Close","value":"2,711","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.61","note":"Supportive but easing","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"2,629","className":"is-ohlc","compact":true},{"label":"High","value":"2,629","className":"is-ohlc","compact":true},{"label":"Low","value":"2,629","className":"is-ohlc","compact":true},{"label":"Close","value":"2,629","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.49","note":"Supportive but easing","className":"is-positive","wide":true},{"label":"Signal / event","value":"Reversal danger","className":"is-negative","wide":true}],[{"label":"Open","value":"2,682","className":"is-ohlc","compact":true},{"label":"High","value":"2,682","className":"is-ohlc","compact":true},{"label":"Low","value":"2,682","className":"is-ohlc","compact":true},{"label":"Close","value":"2,682","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.35","note":"Supportive but easing","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"2,775","className":"is-ohlc","compact":true},{"label":"High","value":"2,830","className":"is-ohlc","compact":true},{"label":"Low","value":"2,715","className":"is-ohlc","compact":true},{"label":"Close","value":"2,715","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.25","note":"Supportive but easing","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"2,680","className":"is-ohlc","compact":true},{"label":"High","value":"2,680","className":"is-ohlc","compact":true},{"label":"Low","value":"2,680","className":"is-ohlc","compact":true},{"label":"Close","value":"2,680","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.05","note":"Supportive but easing","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"2,700","className":"is-ohlc","compact":true},{"label":"High","value":"2,700","className":"is-ohlc","compact":true},{"label":"Low","value":"2,700","className":"is-ohlc","compact":true},{"label":"Close","value":"2,700","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.04","note":"Supportive but easing","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"2,520","className":"is-ohlc","compact":true},{"label":"High","value":"2,686","className":"is-ohlc","compact":true},{"label":"Low","value":"2,500","className":"is-ohlc","compact":true},{"label":"Close","value":"2,686","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.02","note":"Supportive but easing","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"2,545","className":"is-ohlc","compact":true},{"label":"High","value":"2,625","className":"is-ohlc","compact":true},{"label":"Low","value":"2,540","className":"is-ohlc","compact":true},{"label":"Close","value":"2,620","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.14","note":"Cautious and weakening","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"2,620","className":"is-ohlc","compact":true},{"label":"High","value":"2,620","className":"is-ohlc","compact":true},{"label":"Low","value":"2,414","className":"is-ohlc","compact":true},{"label":"Close","value":"2,510","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.24","note":"Cautious and weakening","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"2,510","className":"is-ohlc","compact":true},{"label":"High","value":"2,665","className":"is-ohlc","compact":true},{"label":"Low","value":"2,450","className":"is-ohlc","compact":true},{"label":"Close","value":"2,561","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.35","note":"Cautious and weakening","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"2,561","className":"is-ohlc","compact":true},{"label":"High","value":"2,628","className":"is-ohlc","compact":true},{"label":"Low","value":"2,538","className":"is-ohlc","compact":true},{"label":"Close","value":"2,605","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.43","note":"Cautious and weakening","className":"is-negative","wide":true},{"label":"Signal / event","value":"Reversal warning","className":"is-caution","wide":true}],[{"label":"Open","value":"2,645","className":"is-ohlc","compact":true},{"label":"High","value":"2,651","className":"is-ohlc","compact":true},{"label":"Low","value":"2,512","className":"is-ohlc","compact":true},{"label":"Close","value":"2,518","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.44","note":"Cautious and weakening","className":"is-negative","wide":true},{"label":"Signal / event","value":"Reversal danger","className":"is-negative","wide":true}]],"pressureRange":[-2.3,2.3],"priceRange":[2454.982465,2729.717974],"zones":{"accumulationBoundary":-1.5,"accumulationDarkBoundary":-2.0,"distributionBoundary":1.5,"distributionDarkBoundary":2.0},"latest":-0.439275,"state":"Negative and weakening","context":{"scenario":"negativeWeakening","latestDirection":"slight easing","fourWeekDirection":"weakening","now":{"label":"Slightly easier this week","detail":"Market Dynamics weakened this week and remains below zero."},"fourWeek":{"label":"Weakened over four weeks","detail":"Underlying support has contracted across the recent completed path."},"price":{"label":"Price and Market Dynamics are broadly aligned","detail":"The current price response is broadly consistent with the underlying Market Dynamics path."}},"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 weakened this week and 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":"None in view","detail":"Entering the lower zone alone does not create a positioning confirmation.","tone":"neutral"},{"label":"Market Dynamics confirmation","value":"Weakening","detail":"Underlying support has contracted across the recent completed path.","tone":"negative"}],"relationshipEvidence":{"available":false,"observations":15,"summary":"More completed weekly history is needed for a dependable ticker-level record."},"events":{"positioning_recoveries":[],"reversal_warnings":[{"date":"2026-05-29","price":2620.85083},{"date":"2026-08-14","price":2605.0}],"reversal_dangers":[{"date":"2026-06-12","price":2628.838379},{"date":"2026-08-21","price":2518.5}]}},"smTape":{"available":true,"dates":["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":[121.0751,117.8918,117.1855,113.6639,119.5332,120.2096,121.1447,118.8965,121.0015,119.3162,119.6752,119.6553,117.601,119.5057,119.5655,117.9401,119.5855,119.0968,2148.9885,2148.9885,2045.2787,2006.15,1950.0,2136.72,2200.0,2246.4436,2277.8938,2469.7004,2469.7004,2535.9854,2620.8508,2710.7087,2628.8384,2681.7546,2715.0,2680.0,2700.0,2685.99,2620.0,2510.0,2561.0,2605.0,2518.5],"consensus":[-100.0,-74.4926,-92.131,-100.0,19.9397,38.607,48.7485,0.0,44.3442,-27.3238,0.0,0.0,-24.9704,19.0738,10.9243,-46.223,35.9616,0.0,90.5982,55.509,22.5847,37.958,12.6751,69.8633,72.2149,70.8017,67.9833,91.952,49.098,81.4154,77.4983,67.1272,28.0056,49.3696,32.6716,19.6085,37.3315,34.3658,9.2477,-39.3582,13.2398,23.8208,-44.5778],"supportDates":["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,33.842,44.5154,0.0,45.6734,-27.7677,0.0,0.0,-10.7133,21.3375,11.7215,-41.7196,36.5724,0.0,92.4883,43.2768,1.3035,16.9279,5.7099,89.021,79.0254,75.6324,71.5871,92.474,40.1763,78.3971,71.0483,55.0897,23.6332,48.6801,15.9722,28.6331,40.5485,53.3988,36.3264,-24.1994,22.1453,37.997,-31.986],"force":[-100.0,-74.4926,-92.131,-100.0,67.4519,56.1026,56.6202,0.0,58.9268,-44.4998,0.0,0.0,-12.296,36.8707,23.0951,-69.7355,61.4274,0.0,86.0527,18.0,41.9275,8.3857,35.2614,37.4449,37.487,35.4712,31.8137,95.3351,10.2905,81.0264,80.2982,67.4235,26.7325,24.0265,21.4333,13.4576,17.8078,10.3477,26.8207,-79.4567,40.2768,42.5506,-84.481],"direction":[null,null,null,null,13.9975,31.5558,47.9637,0.0,32.4089,-14.548,0.0,0.0,-50.3173,3.7746,1.3196,-34.5751,17.0736,0.0,91.6848,96.2809,95.9655,95.095,54.8757,71.1246,89.2371,90.517,89.7002,88.9388,87.0138,85.1427,82.8697,80.6728,72.1012,68.2599,59.7839,32.9133,47.6003,29.7696,4.0636,-28.0409,16.2501,5.7591,-30.4663],"intensity":[null,null,null,null,100.0,40.0,33.3333,85.7143,62.5,22.2222,10.0,18.1818,58.3333,61.5385,64.2857,46.6667,25.0,23.5294,100.0,94.7368,95.0,90.4762,81.8182,95.6522,83.3333,76.0,69.2308,96.2963,89.2857,75.8621,86.6667,90.3226,71.875,57.5758,88.2353,88.5714,50.0,97.2973,63.1579,82.0513,50.0,70.7317,69.0476],"confirmation":[54.6667,46.5043,52.1486,54.6667,13.0319,80.96,83.9039,49.6106,82.6143,77.2603,47.721,1.7544,75.8215,51.9448,49.1879,83.5765,80.2745,1.508,96.8241,84.8062,14.8476,35.5102,10.2237,89.0763,89.9466,89.5062,88.5974,97.5198,82.6646,94.0871,92.9831,89.6732,35.7298,83.0364,78.3669,30.6671,79.302,77.9751,7.1691,82.0477,31.0584,54.5394,83.6729],"persistence":[null,null,100.0,100.0,60.0,33.3333,14.2857,12.5,12.5,12.5,25.0,37.5,12.5,12.5,12.5,0.0,0.0,12.5,25.0,37.5,62.5,62.5,62.5,87.5,87.5,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,75.0,75.0,75.0,50.0],"assessmentRisk":[null,null,null,null,29.3455,10.3303,18.2421,43.1111,1.0338,1.7467,21.7876,11.9261,31.3912,5.6997,7.8448,8.1484,18.6321,14.4156,4.6458,22.1907,38.6236,30.923,23.7885,36.0575,22.2491,14.6026,6.9646,18.5344,1.461,16.1466,10.5386,16.1359,33.2781,22.8599,26.098,29.6739,21.9075,13.8979,48.4352,28.9849,55.4766,54.7941,23.3533],"volumeParticipation":true,"latest":{"consensus":-44.6,"control":-32.0,"force":-84.5,"direction":-30.5,"confirmation":83.7,"persistence":50.0,"assessmentRisk":23.4,"intensity":69.0,"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":"Broadly stable","forceState":"Downward commitment","forcePath":"Commitment is strengthening","directionState":"Downward follow-through","persistenceState":"Developing","confirmationState":"Strong support","riskState":"Contained","intensityState":"Elevated"},"cards":[{"label":"SM Consensus Gauge","value":"-44.6","detail":"Market Dynamics has stronger support","tone":"negative"},{"label":"SM Control Gauge","value":"-32.0","detail":"Seller control supports the view","tone":"negative"},{"label":"SM Force Gauge","value":"-84.5","detail":"Downward commitment","tone":"negative"},{"label":"SM Direction Gauge","value":"-30.5","detail":"Downward follow-through","tone":"negative"},{"label":"SM Confirmation Gauge","value":"84/100","detail":"Strong support","tone":"positive"}]},"kpis":[{"label":"Price structure","value":"Rotational","detail":"completed-week alignment","tone":"caution"},{"label":"Momentum","value":"68.5","detail":"Positive","tone":"positive"},{"label":"Risk pressure","value":"4.7%","detail":"Normal","tone":"neutral"},{"label":"Trend quality","value":"55.0","detail":"Directional","tone":"positive"},{"label":"Range position","value":"89%","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":[121.0751,117.8918,117.1855,113.6639,119.5332,120.2096,121.1447,118.8965,121.0015,119.3162,119.6752,119.6553,117.601,119.5057,119.5655,117.9401,119.5855,119.0968,2148.9885,2148.9885,2045.2787,2006.15,1950.0,2136.72,2200.0,2246.4436,2277.8938,2469.7004,2469.7004,2535.9854,2620.8508,2710.7087,2628.8384,2681.7546,2715.0,2680.0,2700.0,2685.99,2620.0,2510.0,2561.0,2605.0,2518.5],"stroke":"#10243b","width":2.1},{"label":"Fast trend","values":[null,null,null,null,118.9018,119.1396,119.5042,119.3937,119.686,119.6188,119.629,119.6338,119.2642,119.3081,119.3549,119.0977,119.1864,119.1701,488.228,790.1845,1018.3834,1197.9773,1334.7087,1480.529,1611.3419,1726.8149,1827.0111,1943.8637,2039.4704,2129.7458,2219.0376,2308.4324,2366.688,2423.9729,2476.8869,2513.8165,2547.6681,2572.8175,2581.3962,2568.415,2567.0668,2573.9638,2563.8795],"stroke":"#176fa3","width":1.7},{"label":"Slow trend","values":[null,null,null,null,null,null,null,null,null,null,null,null,119.8091,119.7866,119.7703,119.6347,119.6311,119.5915,269.9172,409.1077,530.3055,639.6273,736.692,840.3977,941.109,1037.8005,1129.6592,1228.9216,1320.8311,1410.8425,1500.4728,1590.1199,1667.062,1742.2244,1814.2819,1878.4091,1939.2677,1994.5805,2040.9078,2075.6554,2111.6069,2148.1545,2175.5875],"stroke":"#07865c","width":1.8},{"label":"Upper envelope","values":[null,null,null,null,null,null,null,null,null,123.3628,123.24,123.1256,122.9344,122.8371,122.7537,122.6074,122.5455,122.4504,1132.4429,1540.0053,1843.8209,2088.3678,2286.9111,2497.5957,2692.7109,2870.0982,3028.0195,3194.6654,3333.826,3456.6717,3564.394,3654.8139,3698.2811,3711.1512,3681.5702,3584.2243,3389.7916,2934.3217,2952.4857,2955.7741,2949.4173,2932.0951,2879.044],"stroke":"#98a9b8","width":1.0,"dash":[6,5]},{"label":"Lower envelope","values":[null,null,null,null,null,null,null,null,null,114.6208,114.8679,115.0824,115.0424,115.2136,115.369,115.3752,115.507,115.6099,-680.7028,-895.9533,-1007.3485,-1063.0696,-1078.3315,-1086.7104,-1073.779,-1038.5429,-980.7892,-912.3547,-816.6454,-697.8242,-555.4289,-386.7435,-179.087,64.2678,353.3923,706.9441,1159.4183,1871.5775,1900.5147,1933.3274,1991.2563,2068.4635,2178.3646],"stroke":"#98a9b8","width":1.0,"dash":[6,5]}],"guides":[],"dates":["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":"impulse","eyebrow":"Price impulse","title":"Acceleration, deceleration and rollover","description":"The impulse path separates directional acceleration from a loss of momentum.","reason":"Selected because the latest impulse is unusually active or is approaching a change of direction.","series":[{"label":"Impulse","values":[null,null,null,null,null,null,null,null,null,null,null,null,-0.4665,-0.4189,-0.3721,-0.4609,-0.3939,-0.3759,161.5712,286.6115,373.0382,433.3789,471.2364,510.4216,540.3535,561.3514,573.9145,592.5178,600.3408,604.916,608.3769,611.3235,600.1345,588.7502,575.7736,556.2532,536.2158,513.2886,484.2122,447.1384,417.0649,392.26,361.4556],"stroke":"#1678a7","width":2.0},{"label":"Signal","values":[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,-0.4341,-0.4225,31.9763,82.9033,140.9303,199.42,253.7833,305.1109,352.1594,393.9978,429.9812,462.4885,490.059,513.0304,532.0997,547.9444,558.3824,564.456,566.7195,564.6263,558.9442,549.8131,536.6929,518.782,498.4386,477.2029,454.0534],"stroke":"#b87806","width":1.7},{"label":"Expansion","values":[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,0.0402,0.0466,129.5949,203.7082,232.1079,233.9589,217.4531,205.3107,188.1941,167.3536,143.9333,130.0293,110.2818,91.8857,76.2772,63.3791,41.752,24.2942,9.0541,-8.3731,-22.7284,-36.5244,-52.4807,-71.6435,-81.3737,-84.9428,-92.5978],"stroke":"#07865c","width":1.0,"fill":"rgba(7,134,92,.12)"}],"guides":[{"label":"Neutral","values":[0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0],"stroke":"#8fa0af","width":1.0,"dash":[6,5]}],"dates":["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,46.331,49.0017,51.4816,53.838,56.1137,58.2704,59.4888,60.6896,61.9848,62.8517,63.686,62.6357,61.6603,59.7264,58.098,56.5859,54.9525],"stroke":"#10243b","width":2.0},{"label":"Positive direction","values":[null,null,null,null,null,null,null,null,null,null,null,null,null,19.6168,17.6283,20.3503,19.4556,18.1291,98.5774,98.5774,93.1505,90.361,87.4292,86.3445,86.8081,86.9958,87.2565,88.7389,88.7389,88.9058,89.7541,88.3564,83.4024,84.0258,85.6552,83.4949,83.7472,71.9111,64.7206,56.1837,51.632,48.792,44.7024],"stroke":"#07865c","width":1.6},{"label":"Negative direction","values":[null,null,null,null,null,null,null,null,null,null,null,null,null,23.1605,28.1394,25.7508,24.6187,25.4268,0.4265,0.4265,5.9083,8.4086,10.8516,9.722,9.3623,9.08,8.898,7.863,7.863,7.4845,6.9123,6.4938,11.7366,11.2958,10.1435,12.4098,12.2202,24.6262,22.1638,27.3082,23.7823,22.4742,22.1583],"stroke":"#c13f3f","width":1.6}],"guides":[],"dates":["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":"participation","eyebrow":"Participation","title":"Activity 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,null,null,null,null,null,null,null,null,null,null,null,1900.0,1318.5841,1992.8347,50.2565,2.8087,15.071,2.4781,0.52,179.8976,3.2791,0.4445,6.6734,13.0124,7.5095,2.4363,0.0,165.698,0.0,2.4824,23.6384,6.6003,26.0562,356.0563,184.4422,48.5843],"stroke":"#1678a7","width":1.8},{"label":"Cumulative balance","values":[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,135.0,135.0,65.0,65.0,65.0,65.267,65.3109,65.3202,68.8274,68.8915,68.8915,69.0223,69.2789,69.4276,69.3793,69.3793,72.961,72.961,73.0147,72.497,72.3521,71.7736,74.0029,75.1854,74.8674],"stroke":"#07865c","width":1.7}],"guides":[{"label":"Typical activity","values":[100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0],"stroke":"#8fa0af","width":1.0,"dash":[6,5]}],"dates":["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":"range","eyebrow":"Acceptance map","title":"Range position and boundary pressure","description":"Price location inside its observed range shows whether the tape is pressing an outer boundary or rotating through value.","reason":"Selected because price is testing an observed boundary or moving rapidly through its recent range.","series":[{"label":"Range position","values":[null,null,null,null,null,null,null,53.4552,74.9601,57.7434,61.4109,61.2071,40.2211,59.679,60.2903,43.6848,60.494,55.5021,100.0,100.0,94.9045,92.982,90.2233,99.3972,100.0,100.0,100.0,100.0,100.0,100.0,98.8185,100.0,96.8451,98.8842,95.7508,94.4615,95.1982,94.6822,92.2513,88.1991,90.0711,91.693,88.5044],"stroke":"#10243b","width":2.0},{"label":"From high","values":[null,null,null,null,null,null,null,-3.6906,-1.9854,-3.3506,-3.0598,-3.0759,-4.7399,-3.1971,-3.1486,-4.4653,-3.1325,-3.5283,0.0,0.0,-4.826,-6.6468,-9.2596,-0.5709,0.0,0.0,0.0,0.0,0.0,0.0,-1.1299,0.0,-3.0203,-1.0681,-4.0755,-5.3121,-4.6054,-5.1004,-7.4319,-11.3184,-9.5165,-7.9619,-11.0181],"stroke":"#c13f3f","width":1.5},{"label":"From low","values":[null,null,null,null,null,null,null,4.6035,6.4555,4.9728,5.2887,5.2711,3.4638,5.1395,5.1922,3.7621,5.2097,4.7798,1790.6512,1790.6512,1699.4087,1664.9838,1615.5838,1779.8575,1835.5304,1876.3909,1904.0603,2072.8092,2072.8092,2091.554,2164.8932,2242.5468,2171.7959,2217.5252,2246.2553,2216.0089,2233.2925,2221.1853,2164.1579,2069.0979,2078.256,2115.6802,2042.1077],"stroke":"#07865c","width":1.5}],"guides":[{"label":"Range centre","values":[50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0],"stroke":"#8fa0af","width":1.0,"dash":[6,5]}],"dates":["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":"drawdown","eyebrow":"Path risk","title":"Drawdown and recovery pressure","description":"Capital impairment and recovery are shown together so return is not separated from path difficulty.","reason":"Selected because the current recovery or drawdown path is central to the tape.","series":[{"label":"Drawdown","values":[0.0,-2.6292,-3.2126,-6.1211,-1.2735,-0.7148,0.0,-1.8558,-0.1182,-1.5093,-1.213,-1.2294,-2.9251,-1.3529,-1.3035,-2.6453,-1.2871,-1.6904,0.0,0.0,-4.826,-6.6468,-9.2596,-0.5709,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,-3.0203,-1.0681,0.0,-1.2891,-0.5525,-1.0685,-3.4991,-7.5506,-5.6722,-4.0516,-7.2376],"stroke":"#c13f3f","width":1.9,"fill":"rgba(193,63,63,.10)"},{"label":"Recovery","values":[null,null,null,null,null,null,null,4.6035,6.4555,4.9728,5.2887,5.2711,3.4638,5.1395,5.1922,3.7621,5.2097,4.7798,1790.6512,1790.6512,1699.4087,1664.9838,1615.5838,1779.8575,1835.5304,1876.3909,1904.0603,2072.8092,2072.8092,2056.4311,2128.595,2205.0041,2135.3871,2180.3835,2208.6531,2178.8915,2195.8981,2183.985,2121.4669,2028.1992,2071.4415,2087.2955,2014.6655],"stroke":"#07865c","width":1.7}],"guides":[{"label":"Prior high","values":[0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0],"stroke":"#8fa0af","width":1.0,"dash":[6,5]}],"dates":["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"]}]},"canonical_url":"https://sharemaestro.com/terminal/c1932926-6265-480c-a9ed-31f8b8f0c700/technical-pack/","technicals_url":"https://sharemaestro.com/terminal/c1932926-6265-480c-a9ed-31f8b8f0c700/technicals/","canonical_technicals_url":"https://sharemaestro.com/terminal/c1932926-6265-480c-a9ed-31f8b8f0c700/technicals/","distributions":{"pdf":"https://sharemaestro.com/terminal/c1932926-6265-480c-a9ed-31f8b8f0c700/technical-pack/download.pdf","json":"https://sharemaestro.com/terminal/c1932926-6265-480c-a9ed-31f8b8f0c700/technical-pack/data.json"},"source_fingerprint":"4901929dcf106c58a3eb1023ea402e890bc9393c69dc9ea155cf30bbd41b98c8","content_hash":"3f76ba58869188886f87deaabfc94bd010518ce9c60cd99b0c872ffa548872f7","citation":"Sharemaestro, SPMO Technical Research Pack, completed week 2026-08-21, https://sharemaestro.com/terminal/c1932926-6265-480c-a9ed-31f8b8f0c700/technical-pack/","data_notes":{"time_series":"Parallel time-series arrays align by index with their dates array.","events":"Sparse chart markers are published as compact dated event records rather than null-filled arrays.","missing_values":"A remaining null in an aligned series means that observation is genuinely unavailable; zero remains a valid value."},"boundary":"Completed market observations and published proprietary outputs only. Market Dynamics construction and private inputs are not disclosed. Historical research is not a forecast or instruction to trade."}