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Price structure remains rotational.","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, Activity pressure and cumulative balance, Strength versus the research benchmark, Drawdown and recovery pressure, Acceleration, deceleration and rollover, Range pressure and compression."},{"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":120,"displayedObservations":104,"assetType":"Equity","state":"Rotational","stateTone":"caution","summary":"Market Dynamics improved this week but remains below zero. 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elevated relative to Market Dynamics","kind":"structuralDivergence","expectedDirection":"lower","episodes":2,"completedEpisodes":2,"activeEpisodes":0,"medianExpectedMove":41.8,"averageExpectedMove":41.8,"averageWeeksToLargestMove":11.0,"horizons":[{"weeks":4,"sample":2,"expectedCount":2,"expectedPercent":100.0,"averageReturn":-12.7,"medianReturn":-12.7,"confidenceLow":34.2,"confidenceHigh":100.0,"confidence":"Mixed historical record"},{"weeks":12,"sample":2,"expectedCount":2,"expectedPercent":100.0,"averageReturn":-29.4,"medianReturn":-29.4,"confidenceLow":34.2,"confidenceHigh":100.0,"confidence":"Mixed historical record"},{"weeks":26,"sample":2,"expectedCount":2,"expectedPercent":100.0,"averageReturn":-13.6,"medianReturn":-13.6,"confidenceLow":34.2,"confidenceHigh":100.0,"confidence":"Mixed historical record"}],"path":[{"week":0,"sample":0},{"week":1,"averageReturn":-5.4,"sample":2},{"week":2,"averageReturn":-6.8,"sample":2},{"week":3,"averageReturn":-13.8,"sample":2},{"week":4,"averageReturn":-12.7,"sample":2},{"week":5,"averageReturn":-14.5,"sample":2},{"week":6,"averageReturn":-21.6,"sample":2},{"week":7,"averageReturn":-26.9,"sample":2},{"week":8,"averageReturn":-31.7,"sample":2},{"week":9,"averageReturn":-27.6,"sample":2},{"week":10,"averageReturn":-38.0,"sample":2},{"week":11,"averageReturn":-28.3,"sample":2},{"week":12,"averageReturn":-29.4,"sample":2},{"week":13,"averageReturn":-30.2,"sample":2},{"week":14,"averageReturn":-32.0,"sample":2},{"week":15,"averageReturn":-23.5,"sample":2},{"week":16,"averageReturn":-25.2,"sample":2},{"week":17,"averageReturn":-27.6,"sample":2},{"week":18,"averageReturn":-28.2,"sample":2},{"week":19,"averageReturn":-22.8,"sample":2},{"week":20,"averageReturn":-25.3,"sample":2},{"week":21,"averageReturn":-21.4,"sample":2},{"week":22,"averageReturn":-24.9,"sample":2},{"week":23,"averageReturn":-18.5,"sample":2},{"week":24,"averageReturn":-19.2,"sample":2},{"week":25,"averageReturn":-12.7,"sample":2},{"week":26,"averageReturn":-13.6,"sample":2}]},"currentApplication":{"status":"Negative pressure; price rotational","tone":"caution","headline":"Market Dynamics is negative while price remains rotational","use":"Treat the pressure as context until price establishes a clear response.","confirm":"The underlying condition is weak, but a negative price response is still required.","invalidate":"Reassess the reading when either price structure or the Market Dynamics state changes materially.","level":"negative","direction":"strengthening","zone":"middle","zoneContext":"Price is between the accumulation and distribution zones. The Market Dynamics bars describe whether the current move is gaining or losing underlying support.","historical":{"label":"Broad directional cases","weeks":12,"direction":"lower","percent":80.0,"averageReturn":-11.7,"sample":10},"nowContext":{"label":"Stronger this week","detail":"Market Dynamics improved this week but remains below zero."},"fourWeekContext":{"label":"Weakened over four weeks","detail":"Underlying support has contracted across the recent completed path."},"priceContext":{"label":"Price has no clear direction","detail":"Price remains rotational while the Market Dynamics condition develops."}},"strategyApproach":{"headline":"Strategy observations from this ticker's own record","summary":"The current reading identifies the setup. The observations below show how this ticker's completed history can guide positioning, confirmation and risk control without treating any one reading as a forecast.","observations":[{"eyebrow":"Divergence control","title":"Do not chase price while the underlying evidence lags","tone":"caution","approach":"Use the gap to review position size, protect gains and wait for either Market Dynamics to catch up or price to correct. The disagreement is a warning condition, not an automatic exit.","finding":"In this ticker's completed record, 80.0% of comparable cases moved lower after 12 weeks, with an average move of -11.7% across 10 cases.","watch":"Reassess the reading when either price structure or the Market Dynamics state changes materially."},{"eyebrow":"Zone positioning","title":"Use accumulation to prepare the long case, then wait for confirmation","tone":"positive","finding":"After accumulation, 100.0% of completed 12-week outcomes were higher across 2 cases. Distinct visits lasted 1.5 weeks on average before leaving the zone.","approach":"Build the thesis and entry conditions while price is in accumulation. Increase exposure only when price responds; location alone is not the entry.","watch":"A failed price response or renewed weakness removes the reason to increase long exposure."},{"eyebrow":"Disagreement playbook","title":"Use unsupported price strength to tighten discipline","tone":"caution","finding":"Comparable disagreements produced an average pullback of 21.4% across 10 completed cases, with the largest move arriving after 9.1 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":[{"date":"2026-04-24","price":460.100006}],"distribution_rollovers":[{"date":"2024-12-27","price":742.283203},{"date":"2025-01-10","price":701.842224}],"price_pressure_gaps":[{"date":"2024-12-06","price":806.568726},{"date":"2025-01-03","price":778.325073}]}},"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":[773.9694,750.2795,769.9211,801.9574,729.786,790.0724,766.1778,765.178,844.3102,695.4437,759.0794,793.3217,749.8315,744.1328,744.0828,806.5687,799.0704,771.7766,742.2832,778.3251,701.8422,705.7914,625.5095,607.7634,653.5031,538.7289,533.6801,476.9428,496.3384,445.8498,601.6148,639.3563,608.3133,627.6089,609.563,547.0271,540.4285,512.0849,614.2119,634.8573,701.6923,675.6481,676.098,645.8049,682.1467,692.4944,665.5504,668.0499,628.4587,623.1599,604.8641,607.4135,633.5576,615.3117,664.7006,684.3962,661.1,635.3,639.3,674.8,622.35,598.75,646.35,615.65,622.35,628.9,628.8,620.15,636.5,628.8,610.85,596.4,458.9,456.4,379.3,422.1,442.55,501.35,492.1,485.65,458.55,453.4,437.75,408.65,429.8,466.85,486.05,460.1,541.4,550.05,478.15,475.75,475.9,479.3,448.8,448.75,453.95,465.7,465.1,448.95,433.6,440.35,469.05,493.75],"consensus":[89.0491,22.6084,49.1455,54.1009,0.0,54.4368,12.6324,22.3622,65.5281,-39.4529,32.9705,33.2391,-12.2251,8.3491,0.0,39.6723,9.1488,0.0,-20.3271,12.9997,-46.3009,-10.3216,-60.9203,-33.6782,0.0,-71.4134,-31.7191,-58.7822,-21.1425,-61.7717,43.1066,32.0745,0.0,29.1384,0.0,-42.3448,-19.0046,-40.8048,39.7481,29.243,63.5104,0.0,12.7979,0.0,28.0137,14.8664,-11.2567,0.0,-30.8834,-16.1067,-30.5152,-11.3236,13.5697,-22.1045,37.5526,37.8244,-10.8134,-19.4236,0.0,37.4649,-45.6384,-42.219,35.5489,-38.572,0.0,10.067,0.0,-13.3171,19.4376,-9.7466,-22.7162,-28.9351,-75.1558,-43.2102,-81.3223,0.0,-8.9929,27.4586,-9.3602,0.0,-27.8363,-23.7336,-36.3505,-49.4544,0.0,20.59,27.8196,-15.7458,66.0345,31.4795,-34.2092,0.0,-13.667,-8.6747,-16.8753,-12.0699,-11.1451,0.0,0.0,-25.3026,-30.3163,-12.0356,34.4201,-47.1746],"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":[19.2721,-29.3825,35.613,32.9683,-17.9506,-27.9807,0.0,39.0513,-43.9642,-43.8235,35.3901,-27.4141,0.0,5.4096,0.0,-15.6887,15.5776,-9.7615,-23.3717,-32.8714,-70.726,-40.0444,-83.4608,0.0,-5.0215,21.9504,-21.2716,0.0,-36.8839,-20.9566,-38.69,-53.5315,0.0,22.7774,27.6207,-33.3115,60.9379,23.2691,-41.4239,0.0,-9.557,-2.1414,-13.2034,-7.9828,-9.5119,0.0,0.0,-30.3498,-32.9068,-9.2959,31.7761,-35.8283],"force":[22.884,-24.4482,53.074,45.6433,-39.8687,-35.6093,0.0,69.9061,-77.8243,-51.1254,77.3496,-70.1951,0.0,23.2831,0.0,-19.3111,42.5531,-20.4422,-28.3717,-25.9903,-97.9497,-18.7732,-93.4619,0.0,-33.5295,77.9939,-7.9352,0.0,-26.3092,-11.3074,-27.1078,-43.3942,0.0,41.6639,33.7998,-24.7454,94.1401,14.7589,-65.7264,0.0,-14.015,-7.5991,-10.2404,-0.5032,-1.2076,0.0,0.0,-35.0387,-26.7621,-3.7743,71.7087,-75.5605],"direction":[0.3995,-12.1128,28.6825,37.7893,-18.0972,-1.917,0.0,12.4796,-24.5618,-34.0237,5.8728,-28.7359,0.0,5.9496,0.0,-6.3253,7.338,-2.0899,-17.9273,-26.54,-63.9371,-64.2832,-70.2072,0.0,-43.9046,2.3429,-3.2349,0.0,-18.5869,-35.7833,-40.2787,-49.1237,0.0,3.0373,23.7754,-10.7576,51.7838,52.8061,-3.4516,0.0,-18.1156,-16.9097,-25.811,-25.0029,-20.1098,0.0,0.0,-12.5799,-29.8944,-26.4594,10.807,-39.8661],"intensity":[25.0,5.7692,42.3077,36.5385,11.5385,28.8462,3.8462,34.6154,59.6154,40.3846,51.9231,26.9231,34.6154,11.5385,7.6923,5.7692,34.6154,48.0769,15.3846,19.2308,96.1538,92.3077,82.6923,57.6923,76.9231,78.8462,25.0,50.0,28.8462,9.6154,7.6923,36.5385,13.4615,75.0,40.3846,28.8462,92.3077,88.4615,88.4615,75.0,7.6923,38.4615,69.2308,7.6923,9.6154,19.2308,7.6923,15.3846,25.0,3.8462,46.1538,44.2308],"confirmation":[49.8726,75.034,80.5194,80.4161,30.7644,52.3207,24.2103,80.9533,83.6107,81.7571,57.9853,81.4768,27.2788,26.3618,24.8889,49.7413,52.3167,48.778,75.4315,77.1095,92.812,81.1308,94.3605,14.0647,8.7953,56.244,26.1271,24.079,76.7232,75.2584,79.3148,83.5786,29.5447,52.5311,77.0876,30.0069,90.0653,77.689,57.1309,1.187,72.4467,25.5094,73.2538,26.2388,48.6218,47.5853,24.5698,76.3166,77.5534,49.5498,80.1911,84.1339],"persistence":[37.5,62.5,37.5,25.0,25.0,25.0,12.5,12.5,12.5,12.5,12.5,37.5,25.0,0.0,0.0,25.0,0.0,0.0,25.0,25.0,37.5,62.5,75.0,62.5,87.5,62.5,62.5,50.0,50.0,50.0,50.0,62.5,50.0,50.0,25.0,37.5,12.5,12.5,12.5,25.0,12.5,12.5,37.5,37.5,62.5,75.0,62.5,75.0,75.0,75.0,50.0,25.0],"assessmentRisk":[1.952,6.2639,30.3142,30.8146,45.0543,43.5599,37.4751,36.8935,20.7762,22.254,6.4675,28.4473,3.6962,32.6695,26.3183,14.9493,14.5634,4.6818,18.8478,21.8379,12.4012,28.3738,9.336,47.4846,13.0654,22.7847,53.7654,45.8963,29.9139,26.3632,22.587,21.4562,25.6197,8.2777,30.2214,55.4635,16.8653,33.6256,6.2446,20.6408,40.6811,43.961,25.2494,25.9551,22.502,15.0882,20.2485,12.9583,12.8688,35.1786,8.8638,26.1199],"volumeParticipation":true,"latest":{"consensus":-47.2,"control":-35.8,"force":-75.6,"direction":-39.9,"confirmation":84.1,"persistence":25.0,"assessmentRisk":26.1,"intensity":44.2,"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":"Unsettled","confirmationState":"Strong support","riskState":"Contained","intensityState":"Normal"},"cards":[{"label":"SM Consensus Gauge","value":"-47.2","detail":"Market Dynamics has stronger support","tone":"negative"},{"label":"SM Control Gauge","value":"-35.8","detail":"Seller control supports the view","tone":"negative"},{"label":"SM Force Gauge","value":"-75.6","detail":"Downward commitment","tone":"negative"},{"label":"SM Direction Gauge","value":"-39.9","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":"52.6","detail":"Positive","tone":"positive"},{"label":"Risk pressure","value":"8.3%","detail":"Contained","tone":"neutral"},{"label":"Trend quality","value":"17.2","detail":"Range-led","tone":"neutral"},{"label":"Range position","value":"59%","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 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