{"schema_version":"1.0","name":"PUBM Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-14","ticker":{"uuid":"ce775e12-c466-40a9-8d12-68a5b2a17d2e","symbol":"PUBM","name":"Pubmatic Inc","exchange":"NASDAQ","country":"US","asset_type":"equity","currency":"USD","sector":"Technology","industry":"Software - Application"},"summary":"Market Dynamics strengthened this week and remains positive. Underlying support has contracted across the recent completed path. The upward price structure remains intact, but its underlying support has 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, Drawdown and recovery pressure, Acceleration, deceleration and rollover, Directional strength and control, 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":"Aligned upward","stateTone":"positive","summary":"Market Dynamics strengthened this week and remains positive. Underlying support has contracted across the recent completed path. The upward price structure remains intact, but its underlying support has weakened.","evidenceAlignment":{"status":"Confirmation weakening","headline":"Upward price structure remains intact, but support is fading","summary":"Market Dynamics strengthened this week and remains positive. Underlying support has contracted across the recent completed path. The upward price structure remains intact, but its underlying support has weakened.","take":"Treat the advance as conditional. Renewed Market Dynamics would restore confirmation; continued contraction would increase rollover risk.","tone":"caution","conflict":true},"marketDynamics":{"available":true,"readAvailable":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"],"values":[-0.942946,-0.963769,-1.027873,-1.063989,-1.061383,-0.997274,-0.913727,-0.833104,-0.766629,-0.740707,-0.708408,-0.51971,-0.202061,0.225333,0.470577,0.653528,0.649061,0.527901,0.473644,0.30575,0.071979,-0.085665,-0.131412,-0.130797,0.134985,0.34382,0.366342,0.165142,-0.230268,-0.628308,-0.860287,-0.947726,-0.984849,-1.000402,-0.968512,-0.846276,-0.759424,-0.444841,-0.198996,-0.006674,0.268424,0.418725,0.494574,0.617245,0.729633,0.683578,0.82438,0.850149,0.823356,0.761704,0.528374,0.281568,-0.014438,-0.333695,-0.610672,-0.764922,-0.808124,-0.790423,-0.716942,-0.654656,-0.728772,-0.672305,-0.662712,-0.677718,-0.227922,0.064934,0.375884,0.687596,0.608318,0.579392,0.526538,0.435414,0.328763,0.175087,0.03384,-0.176684,-0.400174,-0.572938,-0.809078,-0.607607,-0.254748,-0.02357,0.288835,0.372678,0.29925,0.449051,0.714987,0.85851,1.044984,1.183086,1.206036,1.201775,1.209247,1.20086,1.097477,1.084034,1.119228,1.092863,1.164752,1.112537,0.931888,0.803902,0.868971,0.994039],"opens":[13.64,16.0,15.3,14.44,14.55,14.54,14.85,14.74,15.16,15.23,14.98,14.5,15.83,14.75,16.27,15.89,16.83,16.41,15.43,14.845,15.19,13.88,14.6,14.6,14.69,16.5,15.84,14.59,10.59,9.88,9.52,9.94,9.07,7.8,8.66,9.01,10.02,9.67,11.64,11.13,11.5,11.59,12.2,11.43,10.9,11.84,12.67,12.93,12.61,12.8,11.32,10.97,8.39,8.98,8.51,8.47,8.25,8.57,8.44,8.56,8.17,8.04,8.87,8.36,7.55,9.4,8.86,8.84,9.23,9.02,8.87,8.89,8.62,8.35,7.5,7.73,7.27,6.49,6.54,6.45,7.91,8.8,8.12,8.1,8.17,8.33,8.41,9.76,9.53,10.22,10.68,9.68,10.29,11.64,11.6,11.35,11.18,12.65,13.43,13.56,12.77,12.76,12.71,17.75],"highs":[15.975,16.2786,15.52,14.95,15.14,15.0499,15.0935,15.16,15.5399,15.55,15.7,16.13,17.74,16.43,16.49,17.17,17.1,16.6832,15.545,15.38,15.62,14.78,15.27,15.75,16.46,17.32,15.84,14.8,11.01,9.95,9.865,10.585,9.5191,9.06,9.23,10.16,10.1413,12.0,12.06,11.855,12.35,12.43,12.24,11.43,11.76,12.98,13.88,13.26,12.92,12.835,11.87,11.07,9.09,9.01,8.688,8.59,8.88,8.92,8.581,9.166,8.38,8.91,8.935,8.37,11.08,9.56,9.2399,9.35,9.44,9.3,9.07,9.13,8.93,8.655,7.96,7.775,7.415,6.9,6.74,8.5,9.175,8.855,8.52,8.42,8.41,8.8322,9.92,9.95,10.305,10.915,10.84,10.3951,11.94,12.335,11.6,11.73,12.79,13.99,13.94,14.04,13.36,13.27,18.4395,18.2],"lows":[13.64,15.25,14.45,13.77,14.42,14.15,14.215,14.38,14.9675,14.6605,14.55,14.29,14.805,14.42,15.65,15.8,16.12,15.13,14.95,14.64,13.8,13.77,14.395,14.47,14.58,15.14,14.4744,10.3537,9.685,9.07,9.3,9.22,7.9,7.46,7.99,8.75,9.69,9.5,11.38,11.11,11.405,11.59,10.69,10.95,10.84,11.7549,12.43,12.01,12.255,11.12,10.72,7.01,7.8,8.3,8.16,8.035,8.13,8.17,8.15,7.99,7.8799,8.04,8.21,7.13,7.46,8.57,8.6,8.72,8.81,8.579,8.7384,8.43,8.29,7.6,7.34,7.22,6.21,6.3,6.15,6.255,7.75,7.945,7.875,7.73,7.89,8.11,8.38,8.87,9.43,9.89,9.37,9.61,10.2,10.96,10.73,11.1,11.094,12.43,12.84,12.59,12.21,12.45,12.71,16.57],"closes":[15.95,15.6,14.51,14.58,14.52,14.91,14.77,15.12,15.29,14.79,14.62,15.61,14.88,16.18,15.95,16.81,16.3,15.44,15.1,15.33,14.095,14.52,14.97,15.12,16.43,15.7,14.52,10.63,9.77,9.48,9.75,9.28,8.25,8.48,9.13,9.96,9.8,11.09,11.42,11.29,11.7,12.06,10.71,11.02,11.66,12.82,12.99,12.49,12.72,11.12,10.93,8.37,9.07,8.67,8.37,8.22,8.63,8.39,8.44,7.99,7.95,8.75,8.36,7.4,9.43,8.82,9.01,9.18,9.05,8.83,8.98,8.59,8.37,7.61,7.73,7.26,6.49,6.54,6.57,8.1,8.91,8.03,7.985,8.19,8.27,8.47,9.81,9.62,10.23,10.74,9.72,10.36,11.68,11.54,11.35,11.3,12.65,13.55,13.55,12.73,12.52,12.6,17.78,17.59],"pressureRange":[-1.378542,1.378542],"priceRange":[6.49,24.02],"zones":{"accumulationBoundary":0.06,"distributionBoundary":0.94},"latest":0.994039,"state":"Positive but weakening over four weeks","context":{"scenario":"positiveWeakening","latestDirection":"strengthening","fourWeekDirection":"weakening","now":{"label":"Stronger this week","detail":"Market Dynamics strengthened this week and remains positive."},"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":"Positive support is weakening","detail":"Market Dynamics remains above zero, but support has contracted across the recent completed path. Price confirmation now carries more weight.","tone":"caution"},"chartSummary":"Price is between the outer positioning zones. The Market Dynamics bars show whether underlying support is strengthening or weakening.","summary":"Market Dynamics remains above zero, but support has contracted across the recent completed path. Price confirmation now carries more weight.","annotations":[{"label":"Current tape relationship","value":"Positive support is weakening","detail":"Market Dynamics strengthened this week and remains positive.","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":"Weakening","detail":"Underlying support has contracted across the recent completed path.","tone":"negative"}],"relationshipEvidence":{"available":true,"asOf":"2026-08-14","observations":260,"relationship":{"sameWeekCorrelation":0.38,"forwardCorrelation":-0.2,"directionalAgreement":51.2,"sample":254,"correlationSample":259,"label":"Meaningful relationship"},"accumulation":{"label":"Accumulation","episodes":2,"completedEpisodes":2,"activeEpisodes":0,"averageWeeksInZone":2.5,"medianWeeksInZone":2.5,"averageWeeksToHigher":2.5,"expectedExitPercent":100.0,"horizons":[{"weeks":4,"sample":2,"expectedCount":2,"expectedPercent":100.0,"medianReturn":17.8,"averageReturn":17.8,"confidenceLow":34.2,"confidenceHigh":100.0,"confidence":"Mixed historical record"},{"weeks":12,"sample":2,"expectedCount":1,"expectedPercent":50.0,"medianReturn":15.3,"averageReturn":15.3,"confidenceLow":9.5,"confidenceHigh":90.5,"confidence":"Mixed historical record"},{"weeks":26,"sample":2,"expectedCount":2,"expectedPercent":100.0,"medianReturn":59.3,"averageReturn":59.3,"confidenceLow":34.2,"confidenceHigh":100.0,"confidence":"Mixed historical record"}],"path":[{"week":0,"sample":0},{"week":1,"averageReturn":8.4,"sample":2},{"week":2,"averageReturn":4.6,"sample":2},{"week":3,"averageReturn":6.1,"sample":2},{"week":4,"averageReturn":17.8,"sample":2},{"week":5,"averageReturn":22.5,"sample":2},{"week":6,"averageReturn":15.0,"sample":2},{"week":7,"averageReturn":15.7,"sample":2},{"week":8,"averageReturn":14.4,"sample":2},{"week":9,"averageReturn":13.5,"sample":2},{"week":10,"averageReturn":9.8,"sample":2},{"week":11,"averageReturn":19.8,"sample":2},{"week":12,"averageReturn":15.3,"sample":2},{"week":13,"averageReturn":14.3,"sample":2},{"week":14,"averageReturn":18.2,"sample":2},{"week":15,"averageReturn":11.3,"sample":2},{"week":16,"averageReturn":26.1,"sample":2},{"week":17,"averageReturn":40.6,"sample":2},{"week":18,"averageReturn":33.7,"sample":2},{"week":19,"averageReturn":32.1,"sample":2},{"week":20,"averageReturn":33.2,"sample":2},{"week":21,"averageReturn":43.0,"sample":2},{"week":22,"averageReturn":50.5,"sample":2},{"week":23,"averageReturn":59.6,"sample":2},{"week":24,"averageReturn":52.7,"sample":2},{"week":25,"averageReturn":55.3,"sample":2},{"week":26,"averageReturn":59.3,"sample":2}]},"distribution":{"label":"Distribution","episodes":3,"completedEpisodes":3,"activeEpisodes":0,"averageWeeksInZone":2.3,"medianWeeksInZone":2,"averageWeeksToLower":2.0,"expectedExitPercent":100.0,"horizons":[{"weeks":4,"sample":3,"expectedCount":2,"expectedPercent":66.7,"medianReturn":-7.3,"averageReturn":-5.5,"confidenceLow":20.8,"confidenceHigh":93.9,"confidence":"Mixed historical record"},{"weeks":12,"sample":3,"expectedCount":3,"expectedPercent":100.0,"medianReturn":-8.9,"averageReturn":-19.6,"confidenceLow":43.9,"confidenceHigh":100.0,"confidence":"Mixed historical record"},{"weeks":26,"sample":3,"expectedCount":3,"expectedPercent":100.0,"medianReturn":-37.7,"averageReturn":-37.3,"confidenceLow":43.9,"confidenceHigh":100.0,"confidence":"Mixed historical record"}],"path":[{"week":0,"sample":0},{"week":1,"averageReturn":0.5,"sample":3},{"week":2,"averageReturn":-3.4,"sample":3},{"week":3,"averageReturn":-3.5,"sample":3},{"week":4,"averageReturn":-5.5,"sample":3},{"week":5,"averageReturn":-7.7,"sample":3},{"week":6,"averageReturn":-8.0,"sample":3},{"week":7,"averageReturn":-9.8,"sample":3},{"week":8,"averageReturn":-9.0,"sample":3},{"week":9,"averageReturn":-7.3,"sample":3},{"week":10,"averageReturn":-9.1,"sample":3},{"week":11,"averageReturn":-13.0,"sample":3},{"week":12,"averageReturn":-19.6,"sample":3},{"week":13,"averageReturn":-20.5,"sample":3},{"week":14,"averageReturn":-20.0,"sample":3},{"week":15,"averageReturn":-29.8,"sample":3},{"week":16,"averageReturn":-31.4,"sample":3},{"week":17,"averageReturn":-26.4,"sample":3},{"week":18,"averageReturn":-25.4,"sample":3},{"week":19,"averageReturn":-29.8,"sample":3},{"week":20,"averageReturn":-38.4,"sample":3},{"week":21,"averageReturn":-38.7,"sample":3},{"week":22,"averageReturn":-34.6,"sample":3},{"week":23,"averageReturn":-35.9,"sample":3},{"week":24,"averageReturn":-37.2,"sample":3},{"week":25,"averageReturn":-35.5,"sample":3},{"week":26,"averageReturn":-37.3,"sample":3}]},"regimes":{"alignedPositive":{"label":"Price and Market Dynamics positive","kind":"aligned","expectedDirection":"higher","episodes":20,"completedEpisodes":19,"activeEpisodes":1,"medianExpectedMove":4.4,"averageExpectedMove":20.8,"averageWeeksToLargestMove":4.6,"horizons":[{"weeks":4,"sample":19,"expectedCount":8,"expectedPercent":42.1,"averageReturn":-0.5,"medianReturn":-1.2,"confidenceLow":23.1,"confidenceHigh":63.7,"confidence":"Mixed historical record"},{"weeks":12,"sample":19,"expectedCount":7,"expectedPercent":36.8,"averageReturn":-0.0,"medianReturn":-16.0,"confidenceLow":19.1,"confidenceHigh":59.0,"confidence":"Mixed historical record"},{"weeks":26,"sample":16,"expectedCount":5,"expectedPercent":31.2,"averageReturn":-7.0,"medianReturn":-19.2,"confidenceLow":14.2,"confidenceHigh":55.6,"confidence":"Mixed historical record"}],"path":[{"week":0,"sample":0},{"week":1,"averageReturn":3.8,"sample":20},{"week":2,"averageReturn":3.7,"sample":19},{"week":3,"averageReturn":1.7,"sample":19},{"week":4,"averageReturn":-0.5,"sample":19},{"week":5,"averageReturn":-1.3,"sample":19},{"week":6,"averageReturn":-0.3,"sample":19},{"week":7,"averageReturn":0.4,"sample":19},{"week":8,"averageReturn":-2.3,"sample":19},{"week":9,"averageReturn":-2.5,"sample":19},{"week":10,"averageReturn":-1.2,"sample":19},{"week":11,"averageReturn":0.9,"sample":19},{"week":12,"averageReturn":-0.0,"sample":19},{"week":13,"averageReturn":-6.6,"sample":18},{"week":14,"averageReturn":-3.6,"sample":18},{"week":15,"averageReturn":-1.4,"sample":18},{"week":16,"averageReturn":-0.7,"sample":18},{"week":17,"averageReturn":2.3,"sample":18},{"week":18,"averageReturn":0.2,"sample":18},{"week":19,"averageReturn":-7.4,"sample":17},{"week":20,"averageReturn":-3.7,"sample":17},{"week":21,"averageReturn":-2.2,"sample":17},{"week":22,"averageReturn":-8.7,"sample":16},{"week":23,"averageReturn":-8.0,"sample":16},{"week":24,"averageReturn":-6.9,"sample":16},{"week":25,"averageReturn":-7.6,"sample":16},{"week":26,"averageReturn":-7.0,"sample":16}]},"alignedNegative":{"label":"Price and Market Dynamics negative","kind":"aligned","expectedDirection":"lower","episodes":19,"completedEpisodes":19,"activeEpisodes":0,"medianExpectedMove":10.6,"averageExpectedMove":13.4,"averageWeeksToLargestMove":6.3,"horizons":[{"weeks":4,"sample":19,"expectedCount":8,"expectedPercent":42.1,"averageReturn":5.1,"medianReturn":5.3,"confidenceLow":23.1,"confidenceHigh":63.7,"confidence":"Mixed historical record"},{"weeks":12,"sample":19,"expectedCount":8,"expectedPercent":42.1,"averageReturn":4.7,"medianReturn":4.0,"confidenceLow":23.1,"confidenceHigh":63.7,"confidence":"Mixed historical record"},{"weeks":26,"sample":19,"expectedCount":11,"expectedPercent":57.9,"averageReturn":0.5,"medianReturn":-13.8,"confidenceLow":36.3,"confidenceHigh":76.9,"confidence":"Mixed historical record"}],"path":[{"week":0,"sample":0},{"week":1,"averageReturn":-1.0,"sample":19},{"week":2,"averageReturn":3.7,"sample":19},{"week":3,"averageReturn":5.8,"sample":19},{"week":4,"averageReturn":5.1,"sample":19},{"week":5,"averageReturn":4.9,"sample":19},{"week":6,"averageReturn":3.8,"sample":19},{"week":7,"averageReturn":5.2,"sample":19},{"week":8,"averageReturn":4.0,"sample":19},{"week":9,"averageReturn":4.0,"sample":19},{"week":10,"averageReturn":4.9,"sample":19},{"week":11,"averageReturn":4.0,"sample":19},{"week":12,"averageReturn":4.7,"sample":19},{"week":13,"averageReturn":3.6,"sample":19},{"week":14,"averageReturn":-0.4,"sample":19},{"week":15,"averageReturn":-1.7,"sample":19},{"week":16,"averageReturn":-0.4,"sample":19},{"week":17,"averageReturn":-0.5,"sample":19},{"week":18,"averageReturn":0.1,"sample":19},{"week":19,"averageReturn":-3.9,"sample":19},{"week":20,"averageReturn":-3.8,"sample":19},{"week":21,"averageReturn":-2.4,"sample":19},{"week":22,"averageReturn":-4.1,"sample":19},{"week":23,"averageReturn":-4.4,"sample":19},{"week":24,"averageReturn":-3.3,"sample":19},{"week":25,"averageReturn":-0.9,"sample":19},{"week":26,"averageReturn":0.5,"sample":19}]},"priceAhead":{"label":"Price positive, Market Dynamics cautious","kind":"disagreement","expectedDirection":"lower","episodes":18,"completedEpisodes":18,"activeEpisodes":0,"medianExpectedMove":11.2,"averageExpectedMove":14.6,"averageWeeksToLargestMove":5.8,"horizons":[{"weeks":4,"sample":18,"expectedCount":8,"expectedPercent":44.4,"averageReturn":3.3,"medianReturn":1.0,"confidenceLow":24.6,"confidenceHigh":66.3,"confidence":"Mixed historical record"},{"weeks":12,"sample":18,"expectedCount":9,"expectedPercent":50.0,"averageReturn":0.1,"medianReturn":0.0,"confidenceLow":29.0,"confidenceHigh":71.0,"confidence":"Mixed historical record"},{"weeks":26,"sample":17,"expectedCount":12,"expectedPercent":70.6,"averageReturn":-2.3,"medianReturn":-12.1,"confidenceLow":46.9,"confidenceHigh":86.7,"confidence":"Mixed historical record"}],"path":[{"week":0,"sample":0},{"week":1,"averageReturn":-1.1,"sample":18},{"week":2,"averageReturn":4.0,"sample":18},{"week":3,"averageReturn":3.3,"sample":18},{"week":4,"averageReturn":3.3,"sample":18},{"week":5,"averageReturn":4.8,"sample":18},{"week":6,"averageReturn":5.7,"sample":18},{"week":7,"averageReturn":5.3,"sample":18},{"week":8,"averageReturn":5.6,"sample":18},{"week":9,"averageReturn":4.9,"sample":18},{"week":10,"averageReturn":4.0,"sample":18},{"week":11,"averageReturn":3.2,"sample":18},{"week":12,"averageReturn":0.1,"sample":18},{"week":13,"averageReturn":1.2,"sample":18},{"week":14,"averageReturn":-1.3,"sample":18},{"week":15,"averageReturn":-3.6,"sample":18},{"week":16,"averageReturn":-7.4,"sample":18},{"week":17,"averageReturn":-3.4,"sample":18},{"week":18,"averageReturn":-3.9,"sample":18},{"week":19,"averageReturn":-0.9,"sample":18},{"week":20,"averageReturn":-2.7,"sample":18},{"week":21,"averageReturn":-3.1,"sample":18},{"week":22,"averageReturn":-0.3,"sample":18},{"week":23,"averageReturn":0.2,"sample":18},{"week":24,"averageReturn":1.4,"sample":18},{"week":25,"averageReturn":-5.8,"sample":17},{"week":26,"averageReturn":-2.3,"sample":17}]},"dynamicsAhead":{"label":"Price cautious, Market Dynamics positive","kind":"disagreement","expectedDirection":"higher","episodes":19,"completedEpisodes":18,"activeEpisodes":1,"medianExpectedMove":8.1,"averageExpectedMove":18.8,"averageWeeksToLargestMove":6.7,"horizons":[{"weeks":4,"sample":18,"expectedCount":6,"expectedPercent":33.3,"averageReturn":-2.0,"medianReturn":-3.6,"confidenceLow":16.3,"confidenceHigh":56.3,"confidence":"Mixed historical record"},{"weeks":12,"sample":18,"expectedCount":5,"expectedPercent":27.8,"averageReturn":-1.2,"medianReturn":-12.2,"confidenceLow":12.5,"confidenceHigh":50.9,"confidence":"Mixed historical record"},{"weeks":26,"sample":16,"expectedCount":5,"expectedPercent":31.2,"averageReturn":-12.7,"medianReturn":-21.6,"confidenceLow":14.2,"confidenceHigh":55.6,"confidence":"Mixed historical record"}],"path":[{"week":0,"sample":0},{"week":1,"averageReturn":-4.0,"sample":19},{"week":2,"averageReturn":-0.3,"sample":19},{"week":3,"averageReturn":0.4,"sample":19},{"week":4,"averageReturn":-2.0,"sample":18},{"week":5,"averageReturn":-5.7,"sample":18},{"week":6,"averageReturn":-6.6,"sample":18},{"week":7,"averageReturn":-5.8,"sample":18},{"week":8,"averageReturn":-5.4,"sample":18},{"week":9,"averageReturn":-5.9,"sample":18},{"week":10,"averageReturn":-8.6,"sample":18},{"week":11,"averageReturn":-6.3,"sample":18},{"week":12,"averageReturn":-1.2,"sample":18},{"week":13,"averageReturn":0.1,"sample":18},{"week":14,"averageReturn":-4.2,"sample":17},{"week":15,"averageReturn":-5.3,"sample":17},{"week":16,"averageReturn":-7.4,"sample":17},{"week":17,"averageReturn":-8.2,"sample":17},{"week":18,"averageReturn":-1.5,"sample":17},{"week":19,"averageReturn":-0.1,"sample":17},{"week":20,"averageReturn":-6.7,"sample":16},{"week":21,"averageReturn":-7.1,"sample":16},{"week":22,"averageReturn":-6.7,"sample":16},{"week":23,"averageReturn":-9.4,"sample":16},{"week":24,"averageReturn":-10.3,"sample":16},{"week":25,"averageReturn":-13.0,"sample":16},{"week":26,"averageReturn":-12.7,"sample":16}]}},"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":"Confirmation weakening","tone":"caution","headline":"Market Dynamics remains positive but has weakened over four weeks","use":"The upward structure still has positive support, but renewed strength is needed to restore full confirmation.","confirm":"Treat the advance as conditional. Renewed Market Dynamics would restore confirmation; continued contraction would increase rollover risk.","invalidate":"Reassess the reading when either price structure or the Market Dynamics state changes materially.","level":"positive","direction":"strengthening","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":"Stronger this week","detail":"Market Dynamics strengthened this week and remains positive."},"fourWeekContext":{"label":"Weakened over four weeks","detail":"Underlying support has contracted 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":"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 2.3 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 14.6% across 18 completed cases, with the largest move arriving after 5.8 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":[],"price_pressure_gaps":[]}},"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":[15.95,15.6,14.51,14.58,14.52,14.91,14.77,15.12,15.29,14.79,14.62,15.61,14.88,16.18,15.95,16.81,16.3,15.44,15.1,15.33,14.095,14.52,14.97,15.12,16.43,15.7,14.52,10.63,9.77,9.48,9.75,9.28,8.25,8.48,9.13,9.96,9.8,11.09,11.42,11.29,11.7,12.06,10.71,11.02,11.66,12.82,12.99,12.49,12.72,11.12,10.93,8.37,9.07,8.67,8.37,8.22,8.63,8.39,8.44,7.99,7.95,8.75,8.36,7.4,9.43,8.82,9.01,9.18,9.05,8.83,8.98,8.59,8.37,7.61,7.73,7.26,6.49,6.54,6.57,8.1,8.91,8.03,7.985,8.19,8.27,8.47,9.81,9.62,10.23,10.74,9.72,10.36,11.68,11.54,11.35,11.3,12.65,13.55,13.55,12.73,12.52,12.6,17.78,17.59],"consensus":[0.0,-44.1417,-49.4524,-16.6979,-40.4629,-11.8596,-18.7277,0.0,0.0,-32.0783,-28.2108,23.2693,-32.8127,43.6173,0.0,39.8299,0.0,-28.9724,-24.575,0.0,-49.9558,0.0,0.0,0.0,53.5679,-8.4755,-41.9077,-74.5025,-70.2932,-48.7102,-25.3375,-57.8587,-65.945,-22.8236,0.0,14.1688,-16.1496,42.0333,15.0668,9.475,25.8644,32.9627,-37.6705,0.0,32.325,53.4821,34.0842,10.467,32.2151,-50.2001,-30.1622,-66.1694,0.0,-40.1867,-41.2111,-33.5451,-9.4387,-31.8635,-13.3509,-44.8135,-35.104,21.0117,-28.2248,-54.5892,47.6447,-16.7546,16.535,25.9011,0.0,-8.1489,11.0647,-23.4289,-27.0862,-53.8755,-17.301,-51.9132,-63.3808,-32.2855,-25.2854,48.2818,58.2203,-15.8251,0.0,16.5007,9.2534,21.5973,68.7741,29.2608,62.0743,60.7553,-17.3544,54.4904,70.1839,26.9078,30.9286,23.5025,69.217,63.7419,42.3375,0.0,0.0,0.0,78.3783,39.9161],"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":[0.0,-36.7091,-39.8114,-40.6445,-6.4634,-37.0771,-14.5726,-50.3085,-40.7053,22.3007,-35.004,-56.8112,36.6692,-20.4938,13.6078,21.0624,0.0,-12.0329,14.618,-26.0827,-30.0908,-56.6658,-10.6063,-57.2599,-61.3056,-31.1604,-17.7448,42.4522,50.0974,-29.1209,0.0,16.6228,18.181,18.1125,67.2702,24.097,64.1392,59.7313,-18.4137,58.3916,70.7706,21.9551,26.38,15.7196,72.4359,64.9572,39.6564,0.0,0.0,0.0,73.3596,37.1789],"force":[0.0,-26.6599,-23.0368,-14.4281,-24.0307,-18.7604,-6.9338,-49.6566,-18.747,51.5973,-31.8094,-70.5217,84.439,-40.0408,18.7665,26.3923,0.0,-17.2178,11.6078,-30.8061,-29.0781,-65.4436,-2.935,-49.9678,-76.9558,-6.7131,-1.9781,89.5523,84.3485,-51.5838,0.0,20.228,5.0457,18.6442,84.0519,1.9266,59.5054,56.899,-74.3217,56.5377,79.0854,4.4059,3.1048,0.6202,78.8801,58.2578,14.9253,0.0,0.0,0.0,97.2082,1.7048],"direction":[0.0,-53.8232,-55.7924,-39.0864,-36.7457,-35.2644,-26.4439,-35.0741,-40.3863,2.3084,-17.9166,-40.6694,33.9063,-4.1517,18.2865,31.0802,0.0,-2.7678,6.6157,-15.1266,-22.2295,-42.4235,-39.4063,-47.1923,-56.0561,-51.8374,-50.5514,25.4654,48.8406,-24.912,0.0,13.6987,2.0559,27.6891,59.5799,54.6867,61.5493,64.6801,-24.5472,48.5694,63.1551,54.9351,56.001,48.7416,58.6359,66.2702,64.9816,0.0,0.0,0.0,70.6641,70.3382],"intensity":[94.2308,26.9231,11.5385,3.8462,23.0769,7.6923,15.3846,34.6154,46.1538,46.1538,19.2308,67.3077,94.2308,84.6154,11.5385,3.8462,1.9231,7.6923,7.6923,28.8462,7.6923,53.8462,50.0,36.5385,71.1538,42.3077,5.7692,88.4615,84.6154,65.3846,23.0769,9.6154,5.7692,40.3846,80.7692,44.2308,53.8462,53.8462,78.8462,57.6923,90.3846,61.5385,59.6154,30.7692,84.6154,80.7692,38.4615,69.2308,55.7692,19.2308,100.0,98.0769],"confirmation":[10.644,80.5005,80.655,78.0436,7.1722,77.7175,50.448,82.4042,78.6494,53.462,77.0379,85.9202,84.5349,52.2332,73.4038,76.3771,24.9628,48.7486,48.8364,75.6816,76.6825,85.5502,50.9811,84.4715,88.7272,54.9025,52.8293,84.7968,87.5506,33.9324,3.7915,73.3919,25.3635,74.8742,90.4962,53.9424,87.754,87.3398,35.1768,85.4399,90.7212,54.0049,54.4518,52.2754,90.3949,88.2117,80.7534,33.501,5.0227,3.4356,93.7314,64.9837],"persistence":[12.5,12.5,37.5,62.5,87.5,87.5,87.5,87.5,100.0,75.0,75.0,75.0,50.0,50.0,25.0,0.0,12.5,12.5,12.5,12.5,12.5,12.5,37.5,62.5,75.0,75.0,100.0,75.0,50.0,50.0,37.5,12.5,12.5,37.5,62.5,62.5,62.5,87.5,75.0,75.0,75.0,75.0,75.0,75.0,75.0,75.0,100.0,87.5,75.0,62.5,62.5,62.5],"assessmentRisk":[47.2169,29.1356,28.818,8.905,16.9171,1.1608,10.8729,8.7252,16.3623,9.139,9.028,3.8433,24.4658,13.1644,27.5509,36.3584,22.0794,4.7762,7.646,22.0658,23.625,19.488,38.5686,21.7799,17.8816,33.6773,37.278,21.2383,20.8582,56.952,46.9587,1.2987,42.8118,19.1341,15.1266,33.7858,18.6543,19.5591,2.3899,11.5109,13.4338,27.8668,34.0294,33.7025,9.8871,17.8276,28.6461,46.3255,11.8919,45.4433,10.4439,29.9143],"volumeParticipation":true,"latest":{"consensus":39.9,"control":37.2,"force":1.7,"direction":70.3,"confirmation":65.0,"persistence":62.5,"assessmentRisk":29.9,"intensity":98.1,"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":"Commitment is limited","forcePath":"Broadly stable","directionState":"Upward follow-through","persistenceState":"Developing","confirmationState":"Qualified support","riskState":"Contained","intensityState":"Elevated"},"cards":[{"label":"SM Consensus Gauge","value":"+39.9","detail":"Joint upward confirmation","tone":"positive"},{"label":"SM Control Gauge","value":"+37.2","detail":"Buyer control supports the view","tone":"positive"},{"label":"SM Force Gauge","value":"+1.7","detail":"Commitment is limited","tone":"positive"},{"label":"SM Direction Gauge","value":"+70.3","detail":"Upward follow-through","tone":"positive"},{"label":"SM Confirmation Gauge","value":"65/100","detail":"Qualified support","tone":"neutral"}]},"kpis":[{"label":"Price structure","value":"Aligned upward","detail":"completed-week alignment","tone":"positive"},{"label":"Momentum","value":"78.2","detail":"Stretched positive","tone":"positive"},{"label":"Risk pressure","value":"8.3%","detail":"Contained","tone":"neutral"},{"label":"Trend quality","value":"41.0","detail":"Directional","tone":"positive"},{"label":"Range position","value":"93%","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":[15.95,15.6,14.51,14.58,14.52,14.91,14.77,15.12,15.29,14.79,14.62,15.61,14.88,16.18,15.95,16.81,16.3,15.44,15.1,15.33,14.095,14.52,14.97,15.12,16.43,15.7,14.52,10.63,9.77,9.48,9.75,9.28,8.25,8.48,9.13,9.96,9.8,11.09,11.42,11.29,11.7,12.06,10.71,11.02,11.66,12.82,12.99,12.49,12.72,11.12,10.93,8.37,9.07,8.67,8.37,8.22,8.63,8.39,8.44,7.99,7.95,8.75,8.36,7.4,9.43,8.82,9.01,9.18,9.05,8.83,8.98,8.59,8.37,7.61,7.73,7.26,6.49,6.54,6.57,8.1,8.91,8.03,7.985,8.19,8.27,8.47,9.81,9.62,10.23,10.74,9.72,10.36,11.68,11.54,11.35,11.3,12.65,13.55,13.55,12.73,12.52,12.6,17.78,17.59],"stroke":"#10243b","width":2.1},{"label":"Fast trend","values":[18.1671,17.7003,17.1203,16.6584,16.2696,16.0224,15.7947,15.672,15.6026,15.4548,15.303,15.3589,15.2718,15.4369,15.5302,15.7629,15.8605,15.7841,15.6597,15.5998,15.3262,15.1796,15.1415,15.1376,15.3726,15.4321,15.2663,14.4233,13.5772,12.8323,12.2719,11.7279,11.0956,10.62,10.3491,10.2783,10.1914,10.3548,10.5484,10.6833,10.8681,11.0848,11.0167,11.0173,11.1341,11.4407,11.7224,11.8619,12.0179,11.8547,11.6866,11.0835,10.7174,10.3452,9.9861,9.665,9.4768,9.2792,9.1266,8.92,8.7436,8.7448,8.6748,8.443,8.6225,8.6584,8.7223,8.8055,8.85,8.8463,8.8706,8.8196,8.7379,8.5328,8.3868,8.182,7.8743,7.6317,7.4387,7.5589,7.8046,7.8456,7.8709,7.9289,7.9909,8.078,8.3929,8.616,8.9095,9.2423,9.3292,9.5166,9.9099,10.2063,10.4143,10.5753,10.9525,11.4248,11.8112,11.9782,12.0767,12.1719,13.1915,13.9913],"stroke":"#176fa3","width":1.7},{"label":"Slow trend","values":[19.3011,19.027,18.6924,18.3877,18.1012,17.8649,17.6356,17.4493,17.2893,17.1042,16.9202,16.8231,16.6792,16.6422,16.5909,16.6072,16.5844,16.4996,16.396,16.317,16.1524,16.0315,15.9529,15.8912,15.9311,15.914,15.8107,15.427,15.0079,14.5984,14.2393,13.8719,13.4555,13.0869,12.7938,12.5839,12.3777,12.2823,12.2184,12.1497,12.1164,12.1122,12.0083,11.9351,11.9147,11.9818,12.0565,12.0886,12.1354,12.0601,11.9764,11.7093,11.5138,11.3031,11.0859,10.8736,10.7074,10.5357,10.3805,10.2034,10.0365,9.9412,9.8241,9.6445,9.6286,9.5687,9.5273,9.5016,9.4682,9.4209,9.3882,9.3291,9.2581,9.136,9.0318,8.9006,8.722,8.5604,8.413,8.3898,8.4283,8.3988,8.3682,8.355,8.3487,8.3577,8.4652,8.5508,8.6752,8.8281,8.8942,9.0028,9.2011,9.3743,9.5207,9.6525,9.8745,10.1468,10.3989,10.5715,10.7159,10.8554,11.3684,11.8292],"stroke":"#07865c","width":1.8},{"label":"Upper envelope","values":[26.4346,26.3773,26.4855,26.2696,25.9059,25.5656,24.8453,24.0306,23.4913,23.0363,22.4917,22.1182,21.6196,21.1893,20.6214,19.7366,18.0431,16.7406,16.7076,16.5981,16.574,16.5411,16.5345,16.5329,16.6883,16.7247,16.7375,17.6001,18.2413,18.7008,18.9612,19.0946,19.3272,19.2499,19.0416,18.5623,18.1048,17.7225,17.3691,16.9376,16.7004,16.4033,15.9248,15.3671,14.3731,13.6055,13.1834,13.4079,13.6635,13.6822,13.6921,13.7823,13.6916,13.6681,13.7496,13.8731,13.9337,13.9584,13.9201,13.8983,13.7936,13.563,13.4938,13.4199,13.1957,12.6824,12.036,11.4323,10.5524,10.0797,9.5444,9.5498,9.4952,9.5309,9.5546,9.6294,9.789,9.8917,9.947,9.9512,10.0262,9.9737,9.9542,9.9612,9.81,9.7704,9.9295,10.0118,10.2469,10.6102,10.7115,10.9558,11.4886,11.9117,12.2382,12.4861,12.8757,13.3753,13.7369,13.9936,14.2125,14.3342,15.7168,16.7211],"stroke":"#98a9b8","width":1.0,"dash":[6,5]},{"label":"Lower envelope","values":[14.8844,14.2157,13.3975,12.7504,12.2231,11.8054,11.6007,11.5524,11.4307,11.2527,11.1373,11.0828,11.0384,11.1047,11.2476,11.6854,12.7689,13.6114,13.7484,14.0279,13.8665,13.7914,13.844,13.8996,13.9352,13.9778,13.94,12.6284,11.4352,10.4447,9.6973,8.9309,8.0353,7.3426,6.8689,6.6632,6.4707,6.418,6.4034,6.4309,6.4286,6.4797,6.5322,6.6799,7.1969,7.6765,7.9456,7.9071,7.9465,8.0918,8.1999,8.0187,8.1914,8.2339,8.0764,7.7789,7.6013,7.3066,7.0469,6.7387,6.4684,6.368,6.2022,5.9141,5.9153,6.0286,6.277,6.5497,7.0626,7.3063,7.6466,7.6632,7.6478,7.5061,7.4184,7.2476,6.874,6.5863,6.344,6.3508,6.3718,6.3523,6.3343,6.4063,6.4415,6.4461,6.367,6.3287,6.2116,6.0393,6.012,5.9447,5.7429,5.7128,5.7483,5.9044,6.1308,6.3322,6.6686,6.8749,7.017,7.3523,6.9492,6.8849],"stroke":"#98a9b8","width":1.0,"dash":[6,5]}],"guides":[],"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"]},{"key":"relative","eyebrow":"Relative 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 strength","values":[-20.7495,-21.6955,-22.5972,-26.4709,-27.757,-26.462,-27.14,-26.2428,-25.5027,-27.9633,-27.5286,-26.3181,-26.8844,-21.5697,-22.8118,-20.7856,-23.3172,-25.2991,-27.2133,-25.2436,-29.416,-29.0475,-27.646,-25.6474,-19.1015,-24.4728,-28.1864,-44.8373,-46.866,-46.2175,-43.8769,-44.3013,-44.0145,-45.4547,-38.8156,-36.0618,-37.9491,-28.4454,-29.7104,-27.4932,-25.0468,-23.1798,-30.2997,-27.2689,-25.043,-17.8373,-15.4233,-18.4123,-16.1103,-23.6468,-26.991,-43.7654,-37.674,-39.4469,-41.3076,-42.6511,-40.3201,-40.9317,-40.4989,-41.5392,-42.3649,-37.0798,-40.167,-44.4748,-28.2162,-29.6423,-30.449,-28.7006,-27.2549,-28.3565,-27.0024,-27.8413,-30.1999,-34.9597,-32.9947,-35.8222,-40.1547,-37.6757,-36.9191,-21.355,-11.8924,-19.2039,-17.4153,-11.9288,-13.9256,-15.1218,-6.8098,-9.8725,-5.0558,-4.6345,-12.5332,-7.0012,2.7643,7.1877,3.6525,1.2454,19.2045,27.2671,25.7875,23.9511,24.5723,24.9836,66.6166,61.028],"stroke":"#176fa3","width":2.0,"fill":"rgba(23,111,163,.08)"}],"guides":[{"label":"Neutral","values":[0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0],"stroke":"#8fa0af","width":1.0,"dash":[6,5]}],"dates":["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"]},{"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":[-59.8742,-60.7547,-63.4969,-63.3208,-63.4717,-62.4906,-62.8428,-61.9623,-61.5346,-62.7925,-63.2201,-60.7296,-62.566,-59.2956,-59.8742,-57.7107,-58.9937,-61.1572,-62.0126,-61.434,-64.5409,-63.4717,-62.3396,-61.9623,-58.6667,-60.5031,-63.4717,-73.2579,-75.4214,-76.1509,-75.4717,-76.6541,-79.2453,-78.6667,-77.0314,-74.9434,-75.3459,-72.1006,-71.2704,-71.5975,-70.566,-69.6604,-73.0566,-72.2767,-70.6667,-67.7484,-67.3208,-68.5786,-68.0,-72.0252,-72.5031,-78.9434,-77.1824,-78.1887,-78.9434,-79.3208,-78.2893,-78.8931,-78.7673,-79.8994,-80.0,-77.9874,-78.9686,-81.3836,-76.2767,-77.8113,-77.3333,-76.9057,-77.2327,-77.7862,-77.4088,-78.3899,-78.9434,-80.8553,-80.5535,-81.7358,-83.673,-83.5472,-83.4717,-79.6226,-77.5849,-79.7987,-79.9119,-79.3962,-79.195,-78.6918,-75.3208,-75.7987,-74.2642,-72.9811,-75.5472,-73.9371,-70.6164,-70.9686,-71.4465,-71.5723,-68.1761,-65.9119,-65.9119,-67.9748,-68.5031,-68.3019,-55.2704,-55.7484],"stroke":"#c13f3f","width":1.9,"fill":"rgba(193,63,63,.10)"},{"label":"Recovery","values":[17.0213,14.4534,6.4563,6.9699,6.5297,9.391,8.3639,10.9318,12.179,8.5106,7.2634,14.5268,9.1709,18.7087,17.0213,23.3309,19.5891,13.2795,10.785,12.4725,3.4116,6.5297,9.8313,10.9318,20.5429,11.387,3.0153,0.0,0.0,0.0,2.8481,0.0,0.0,2.7879,10.6667,20.7273,18.7879,34.4242,38.4242,36.8485,41.8182,46.1818,29.8182,33.5758,41.3333,55.3939,57.4545,51.3939,54.1818,34.7879,32.4848,1.4545,9.9394,5.0909,1.4545,0.0,4.9878,2.0681,2.6764,0.0,0.0,10.0629,5.1572,0.0,27.4324,19.1892,21.7568,24.0541,22.2973,19.3243,21.3514,16.0811,13.1081,2.8378,4.4595,0.0,0.0,0.7704,1.2327,24.8074,37.2881,23.7288,23.0354,26.1941,27.4268,30.5085,51.1556,48.228,57.6271,65.4854,49.7689,59.6302,79.9692,77.812,74.8844,74.114,94.9153,108.7827,108.7827,96.1479,92.9122,94.1448,171.8654,167.7321],"stroke":"#07865c","width":1.7}],"guides":[{"label":"Prior high","values":[0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0],"stroke":"#8fa0af","width":1.0,"dash":[6,5]}],"dates":["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"]},{"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":[-0.7537,-0.933,-1.1497,-1.3009,-1.4093,-1.4471,-1.4713,-1.4456,-1.3955,-1.3802,-1.366,-1.2604,-1.2215,-1.0734,-0.9635,-0.7978,-0.6995,-0.6832,-0.6897,-0.6687,-0.743,-0.759,-0.7269,-0.6815,-0.5337,-0.47,-0.5089,-0.8439,-1.1653,-1.427,-1.5942,-1.7446,-1.9247,-2.0255,-2.0295,-1.9433,-1.8664,-1.682,-1.492,-1.3366,-1.1668,-0.9918,-0.9511,-0.8836,-0.7696,-0.579,-0.4095,-0.3119,-0.2135,-0.2617,-0.3116,-0.5513,-0.6771,-0.7998,-0.9107,-0.9992,-1.0245,-1.0517,-1.0571,-1.0852,-1.098,-1.0317,-0.9991,-1.0388,-0.8961,-0.8227,-0.7407,-0.6545,-0.5898,-0.55,-0.5005,-0.4872,-0.4888,-0.545,-0.5733,-0.6265,-0.7224,-0.7853,-0.8233,-0.7216,-0.5691,-0.5133,-0.4673,-0.4097,-0.3534,-0.2894,-0.129,-0.017,0.1196,0.2659,0.2961,0.3675,0.5245,0.6304,0.691,0.7267,0.854,1.0158,1.131,1.143,1.1226,1.1002,1.4833,1.7514],"stroke":"#1678a7","width":2.0},{"label":"Signal","values":[0.2438,0.0084,-0.2232,-0.4388,-0.6329,-0.7957,-0.9308,-1.0338,-1.1061,-1.1609,-1.202,-1.2136,-1.2152,-1.1868,-1.1422,-1.0733,-0.9985,-0.9355,-0.8863,-0.8428,-0.8228,-0.8101,-0.7934,-0.771,-0.7236,-0.6728,-0.6401,-0.6808,-0.7777,-0.9076,-1.0449,-1.1848,-1.3328,-1.4713,-1.583,-1.655,-1.6973,-1.6943,-1.6538,-1.5904,-1.5057,-1.4029,-1.3125,-1.2267,-1.1353,-1.024,-0.9011,-0.7833,-0.6693,-0.5878,-0.5326,-0.5363,-0.5645,-0.6115,-0.6714,-0.7369,-0.7944,-0.8459,-0.8881,-0.9275,-0.9616,-0.9756,-0.9803,-0.992,-0.9728,-0.9428,-0.9024,-0.8528,-0.8002,-0.7502,-0.7002,-0.6576,-0.6239,-0.6081,-0.6011,-0.6062,-0.6294,-0.6606,-0.6932,-0.6988,-0.6729,-0.641,-0.6062,-0.5669,-0.5242,-0.4772,-0.4076,-0.3295,-0.2397,-0.1386,-0.0516,0.0322,0.1307,0.2306,0.3227,0.4035,0.4936,0.598,0.7046,0.7923,0.8583,0.9067,1.022,1.1679],"stroke":"#b87806","width":1.7},{"label":"Expansion","values":[-0.9974,-0.9414,-0.9265,-0.8622,-0.7764,-0.6514,-0.5405,-0.4118,-0.2894,-0.2192,-0.1641,-0.0467,-0.0063,0.1135,0.1787,0.2755,0.299,0.2523,0.1966,0.1741,0.0798,0.0511,0.0666,0.0896,0.1899,0.2029,0.1312,-0.1631,-0.3876,-0.5194,-0.5493,-0.5597,-0.5919,-0.5541,-0.4465,-0.2883,-0.1691,0.0122,0.1618,0.2538,0.3388,0.4111,0.3615,0.3431,0.3657,0.4451,0.4916,0.4714,0.4558,0.3261,0.221,-0.015,-0.1126,-0.1882,-0.2393,-0.2623,-0.23,-0.2058,-0.169,-0.1576,-0.1363,-0.056,-0.0188,-0.0467,0.0768,0.1201,0.1617,0.1983,0.2104,0.2002,0.1997,0.1704,0.1351,0.0631,0.0278,-0.0203,-0.0929,-0.1247,-0.1301,-0.0227,0.1038,0.1277,0.1389,0.1573,0.1708,0.1879,0.2786,0.3125,0.3592,0.4044,0.3477,0.3353,0.3939,0.3998,0.3683,0.3232,0.3604,0.4178,0.4264,0.3507,0.2642,0.1934,0.4613,0.5835],"stroke":"#07865c","width":1.0,"fill":"rgba(7,134,92,.12)"}],"guides":[{"label":"Neutral","values":[0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0],"stroke":"#8fa0af","width":1.0,"dash":[6,5]}],"dates":["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"]},{"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":[24.0784,23.9064,24.0497,24.4328,24.659,24.9777,25.24,25.429,25.2823,25.3091,25.1955,24.6883,22.9391,21.5609,20.2338,19.1083,18.0632,17.2663,16.6653,16.35,16.6725,16.9932,16.754,16.0331,15.0912,14.9395,14.154,15.4416,16.9147,18.5276,20.0252,20.7392,21.9932,23.3371,24.4174,24.5367,24.6474,23.2047,21.8207,20.7275,19.3147,17.9378,17.3624,16.8281,16.0165,15.5213,15.7029,15.4727,15.2589,14.3147,13.7646,15.3758,16.8718,18.261,19.6182,20.9411,21.836,22.6194,23.3597,23.3068,23.3436,22.7181,22.1063,22.4543,21.5319,20.6754,19.8801,19.2345,18.7147,17.9648,17.2685,16.2418,15.1158,14.7973,14.7761,14.8843,15.9386,16.9177,17.9612,16.7992,16.3835,15.9976,15.5501,14.943,14.3792,14.362,15.4172,16.4231,17.6678,19.3079,19.9671,20.5792,22.3142,24.1585,25.4923,26.8179,28.6791,30.9503,33.0592,34.5876,35.3687,36.0939,38.6241,40.9736],"stroke":"#10243b","width":2.0},{"label":"Positive direction","values":[19.8619,20.2025,19.3794,18.5445,18.7604,18.0901,17.6148,17.3107,18.5746,17.8069,17.5477,18.0467,22.7713,20.8021,20.2904,22.102,21.0986,19.5813,19.017,18.3104,16.6698,15.8225,17.6415,18.9635,20.7549,22.7425,21.2205,17.1872,16.1991,15.5593,15.1457,17.5781,16.2364,15.0167,14.9396,18.3772,17.9601,24.6851,23.8069,22.9075,24.2093,23.5541,21.636,20.789,21.5598,26.7467,29.5615,27.5252,26.4801,23.9542,22.4105,18.0001,16.8645,16.2072,15.7537,15.2701,16.2706,15.7891,15.3704,17.8557,17.2834,19.6401,18.8611,17.3259,28.9518,27.3179,26.2853,25.9459,25.4813,24.2886,23.7383,22.5755,21.5367,19.9103,19.0022,18.2018,16.5699,15.8099,15.0775,25.1796,27.3615,25.5306,24.3574,23.1327,22.2258,24.2329,29.4693,27.3732,28.2195,30.5616,27.3949,25.8541,33.3025,32.8838,30.9538,30.5022,34.1051,38.4017,35.6827,32.4238,30.0775,28.4942,45.7597,42.1184],"stroke":"#07865c","width":1.6},{"label":"Negative direction","values":[32.5275,31.38,32.9358,33.9996,33.0635,32.9542,31.7611,30.6984,29.9075,30.0979,28.4602,26.0205,22.6806,22.3757,21.5374,20.2078,19.2904,22.487,22.7107,23.4234,25.4601,24.317,23.2161,21.6705,19.6059,17.5214,19.6107,33.4981,34.4737,35.8723,34.9188,32.66,36.3897,35.7219,33.6143,31.3493,30.6377,26.9838,25.7029,26.101,24.6728,23.572,26.381,25.3484,24.0528,22.2922,20.5158,21.4171,20.6039,24.9515,25.585,38.5333,36.1022,34.6951,34.4663,34.0996,32.6414,31.2044,30.4998,28.2946,28.0934,26.3476,25.0801,30.1281,23.9084,22.5591,21.7064,20.8701,20.0385,20.6002,20.1335,21.3054,21.3316,24.6597,25.4477,25.2865,30.534,29.1335,28.9616,24.341,21.9475,20.4788,20.0365,20.0857,19.2982,18.2292,16.1721,14.9021,13.9465,12.9027,15.2311,14.3744,12.6731,11.5135,12.3894,11.8471,10.5131,9.4582,8.7885,9.5605,11.2598,10.6671,7.5992,6.9945],"stroke":"#c13f3f","width":1.6}],"guides":[],"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"]},{"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":[163.3079,97.9031,72.1766,71.6138,91.9464,59.9702,75.2361,65.3396,59.0197,55.1579,57.1631,85.6245,142.908,132.3942,47.1341,77.4482,62.0413,76.4491,36.6164,53.0234,73.9651,88.79,73.8627,88.8239,88.1325,129.5869,90.6883,218.5203,262.1463,163.865,158.2421,122.8353,145.6215,149.4414,124.5455,123.0256,102.3908,186.5151,132.2834,100.4928,90.7421,112.2417,80.2323,98.6906,107.7791,59.8671,97.5885,81.493,71.961,112.2174,95.1823,276.7425,144.4035,77.2906,52.6207,95.0526,109.2807,73.147,82.4641,154.6514,92.6572,83.0274,79.4512,123.4807,349.9462,97.5319,77.2993,70.5209,83.2207,82.0846,32.884,49.3675,68.7817,91.282,62.5636,76.755,135.7901,104.2153,65.3428,168.054,173.4785,98.1525,74.3902,114.6352,82.121,96.3852,104.0183,85.3242,96.9355,126.3696,140.7682,86.534,97.9089,109.383,66.4252,55.0433,103.5323,78.3769,56.4961,71.0303,74.8821,53.8263,177.3874,159.2073],"stroke":"#1678a7","width":1.8},{"label":"Cumulative balance","values":[72.1322,70.6171,69.4956,70.6142,69.1446,70.0736,68.9245,69.9108,70.7948,69.2038,66.013,67.1524,65.0,67.1992,66.4314,67.6959,66.6863,65.4271,65.0,65.6895,65.0,66.0386,66.8886,67.9013,68.8783,67.4128,66.3983,65.0,65.0,65.0,66.9263,65.4074,65.0,66.7727,68.3077,69.8573,68.5413,71.0821,72.9816,71.4914,72.8671,74.6204,73.3432,74.9536,76.7678,77.7703,79.4465,78.0763,79.2278,77.4341,75.9292,71.0859,73.6755,72.305,71.3881,69.7267,71.6712,70.4167,71.8101,69.1028,67.4689,68.9205,67.5268,65.3241,72.5057,70.4529,72.0778,73.5644,71.784,70.0294,70.7189,69.7802,68.518,66.8284,67.9942,66.5731,65.0,66.9456,68.1609,71.3317,74.7648,72.795,71.2968,73.6156,75.0488,76.715,78.525,77.0385,78.7251,80.957,78.3333,79.9778,81.871,79.7286,78.4219,77.3476,79.343,80.8358,80.8358,79.5551,78.286,79.169,82.2163,79.4453],"stroke":"#07865c","width":1.7}],"guides":[{"label":"Typical activity","values":[100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0],"stroke":"#8fa0af","width":1.0,"dash":[6,5]}],"dates":["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"]}]},"canonical_url":"https://sharemaestro.com/terminal/ce775e12-c466-40a9-8d12-68a5b2a17d2e/technical-pack/","technicals_url":"https://sharemaestro.com/terminal/ce775e12-c466-40a9-8d12-68a5b2a17d2e/technicals/","canonical_technicals_url":"https://sharemaestro.com/terminal/ce775e12-c466-40a9-8d12-68a5b2a17d2e/technicals/","distributions":{"pdf":"https://sharemaestro.com/terminal/ce775e12-c466-40a9-8d12-68a5b2a17d2e/technical-pack/download.pdf","json":"https://sharemaestro.com/terminal/ce775e12-c466-40a9-8d12-68a5b2a17d2e/technical-pack/data.json"},"source_fingerprint":"d85c809bf978b3edf23a4a631e9e0955aa8b2e3842653e270cee41f56023e3fc","content_hash":"d7e699d7bbb57d513185a2bbfb5fec0f647d81099abaf95bfebdc835df6f7f72","citation":"Sharemaestro, PUBM Technical Research Pack, completed week 2026-08-14, https://sharemaestro.com/terminal/ce775e12-c466-40a9-8d12-68a5b2a17d2e/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."}