{"schema_version":"1.0","name":"SPDM Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"e410c64f-54ed-47f1-89e5-11a632c02ea4","symbol":"SPDM","name":"iShares Physical Palladium ETC","exchange":"MIL","country":"IT","asset_type":"etf","currency":"EUR","sector":null,"industry":null},"summary":"The completed price path and its progression through the positioning zones can be described, but there is not enough usable Market Dynamics history to confirm or challenge the technical state.","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, Completed returns and cumulative progression, Range expansion and closing direction, Acceleration, deceleration and rollover, Range pressure and compression, 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":22,"displayedObservations":22,"assetType":"ETF","state":"Rotational","stateTone":"caution","summary":"The completed price path and its progression through the positioning zones can be described, but there is not enough usable Market Dynamics history to confirm or challenge the technical state.","evidenceAlignment":{"status":"Evidence developing","headline":"Price structure is visible; Market Dynamics is not yet established","summary":"The completed price path and its progression through the positioning zones can be described, but there is not enough usable Market Dynamics history to confirm or challenge the technical state.","take":"Treat movement through the zones as price-location context only. Reaching the upper zone shows extension, but without an established Market Dynamics read it does not by itself establish active distribution, divergence or reversal risk.","tone":"neutral","conflict":false},"marketDynamics":{"available":true,"readAvailable":false,"dates":["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"],"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],"opens":[41.377201,35.220001,37.799999,37.330002,37.514999,36.134998,36.974998,36.040001,34.825001,33.825001,33.389999,32.0,32.064999,29.754999,32.0,31.495001,31.155001,31.155001,32.275002,31.815001,33.900002,32.965],"highs":[41.377201,37.240002,38.525002,38.625,38.294998,36.505001,37.865002,36.695,34.825001,33.830002,34.075001,32.0,32.064999,29.754999,32.009998,31.495001,31.33,32.84,32.41,34.860001,34.724998,33.23],"lows":[34.02,35.220001,37.470001,37.325001,36.025002,35.575001,35.790001,35.205002,33.25,33.465,31.1,31.535,32.064999,29.754999,32.0,31.495001,31.155001,31.155001,31.309999,31.205,32.380001,31.915001],"closes":[34.82,37.154999,37.259998,38.244999,36.625,36.365002,35.98,34.825001,33.830002,33.465,31.125,31.57,32.064999,29.754999,32.009998,31.495001,31.26,31.690001,31.875,33.935001,32.57,32.68],"hoverRows":[[{"label":"Open","value":"41.4","className":"is-ohlc","compact":true},{"label":"High","value":"41.4","className":"is-ohlc","compact":true},{"label":"Low","value":"34.0","className":"is-ohlc","compact":true},{"label":"Close","value":"34.8","className":"is-ohlc","compact":true},{"label":"Market 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Market Dynamics history is not yet sufficient to confirm or challenge that progression.","tone":"neutral"},"chartSummary":"Price is between the outer positioning zones. The Market Dynamics bars show whether underlying support is strengthening or weakening.","summary":"Price is travelling between the lower accumulation area and the upper positioning zone. Market Dynamics history is not yet sufficient to confirm or challenge that progression.","annotations":[{"label":"Current tape relationship","value":"Zone progression","detail":"Market Dynamics remains positive and was little changed this week.","tone":"neutral"},{"label":"Price location","value":"Between zones","detail":"Price is progressing between the lower and upper positioning zones while the Market Dynamics read develops.","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":"Unavailable","detail":"Too little usable Market Dynamics history is available for a directional confirmation read.","tone":"neutral"}],"relationshipEvidence":{"available":false,"observations":22,"summary":"More completed weekly history is needed for a dependable ticker-level record."},"events":{"positioning_recoveries":[],"reversal_warnings":[{"date":"2026-04-03","price":37.154999}],"reversal_dangers":[{"date":"2026-04-10","price":37.259998}]}},"smTape":{"available":true,"dates":["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":[34.82,37.155,37.26,38.245,36.625,36.365,35.98,34.825,33.83,33.465,31.125,31.57,32.065,29.755,32.01,31.495,31.26,31.69,31.875,33.935,32.57,32.68],"consensus":[-78.2526,91.5839,-100.0,24.0922,0.0,0.0,-13.2825,-31.6956,-24.3351,-31.0289,-58.7139,-33.0088,-15.9178,-39.8774,14.9095,-13.9578,-12.5078,0.0,0.0,42.8492,-15.962,0.0],"supportDates":["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,0.0,-17.4135,-29.6115,-22.4932,-35.9507,-51.9937,-35.0019,-11.6389,-36.3553,24.4054,-15.8573,-10.3056,0.0,0.0,34.9174,-25.1981,0.0],"force":[-78.2526,91.5839,-100.0,24.0922,0.0,0.0,-16.0767,-44.7664,-19.8039,-21.1019,-78.0799,-14.8858,-0.584,-24.51,30.8074,-4.757,-4.7657,0.0,0.0,76.2633,-35.5391,0.0],"direction":[null,null,null,null,0.0,0.0,-6.5655,-24.7412,-29.6768,-32.4947,-52.5613,-43.676,-31.7607,-54.8794,7.2986,-18.359,-20.5547,0.0,0.0,28.0469,-8.5771,0.0],"intensity":[null,null,null,null,50.0,60.0,33.3333,28.5714,75.0,22.2222,90.0,72.7273,8.3333,84.6154,78.5714,6.6667,6.25,47.0588,11.1111,94.7368,45.0,47.619],"confirmation":[47.7075,51.9735,54.6667,30.3762,4.6009,25.0375,49.6059,78.5727,75.6772,77.5517,87.4811,77.9801,50.0249,80.3461,52.0012,49.4905,49.1334,2.6797,24.3639,82.8509,30.0602,24.6573],"persistence":[null,null,33.3333,0.0,0.0,0.0,14.2857,25.0,25.0,50.0,50.0,75.0,87.5,100.0,75.0,75.0,75.0,62.5,50.0,25.0,25.0,12.5],"assessmentRisk":[null,null,null,null,39.2904,30.5052,32.2976,33.7674,36.9015,33.8944,20.5985,33.0108,37.1346,29.7702,22.8695,3.9828,23.3306,46.0297,3.4763,26.0381,45.4128,28.6235],"volumeParticipation":true,"latest":{"consensus":0.0,"control":0.0,"force":0.0,"direction":0.0,"confirmation":24.7,"persistence":12.5,"assessmentRisk":28.6,"intensity":47.6,"evidenceDepth":85},"analysis":{"status":"No 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