{"schema_version":"1.0","name":"IQMX Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"eb501277-1006-4555-812e-89c58d83f99d","symbol":"IQMX","name":"INVESCO MARKETS II PLC INVESCO","exchange":"LSE","country":"GB","asset_type":"etf","currency":"GBP","sector":null,"industry":null},"summary":"Market Dynamics improved this week but remains below zero. Underlying support has contracted across the recent completed path. The upward price structure is leading its underlying support.","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, Directional strength and control, Range pressure and compression, Acceleration, deceleration and rollover, Activity pressure and cumulative balance, Range position and boundary pressure."},{"name":"SM Tape Intelligence","description":"Resolved consensus with Control, Force, Direction and Confirmation gauges against completed price."},{"name":"Research boundary","description":"Dated scope, interpretation limits, methodology version and source references."}],"research":{"available":true,"asOf":"2026-08-21","observations":46,"displayedObservations":46,"assetType":"ETF","state":"Aligned upward","stateTone":"positive","summary":"Market Dynamics improved this week but remains below zero. Underlying support has contracted across the recent completed path. The upward price structure is leading its underlying support.","evidenceAlignment":{"status":"Price ahead of underlying support","headline":"The upward price response is leading Market Dynamics","summary":"Market Dynamics improved this week but remains below zero. Underlying support has contracted across the recent completed path. The upward price structure is leading its underlying support.","take":"Treat the gap as an early-downside risk watch. Stronger Market Dynamics would confirm the price move; a weaker price response would confirm that the gap is closing through correction.","tone":"caution","conflict":true},"marketDynamics":{"available":true,"readAvailable":true,"dates":["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":[0.410061,0.553084,0.741814,0.788884,0.906409,1.030699,0.945985,1.003839,1.044669,1.014886,1.043916,0.920064,0.576724,0.233029,-0.126907,-0.398338,-0.452409,-0.449972],"opens":[447.149994,453.0,459.649994,481.225006,468.850006,494.424988,492.15,493.6,522.0,503.4,501.3,492.55,463.049988,467.899994,467.824984,468.050003,475.850006,492.238007],"highs":[451.875,454.765991,478.649994,484.075012,479.75,500.667999,492.15,497.725,522.5,503.4,501.3,492.55,463.049988,484.75,467.824984,482.375002,488.799988,494.774994],"lows":[447.049988,449.0,459.649994,467.149994,460.200012,494.424988,482.375,493.6,522.0,503.4,501.3,492.55,462.875,467.899994,453.474998,468.050003,475.850006,478.075012],"closes":[451.875,453.774994,478.0,474.049988,478.700012,496.950012,482.375,497.725,522.5,503.4,501.3,492.55,462.875,473.649994,465.924978,478.474998,485.75,485.850006],"hoverRows":[[{"label":"Open","value":"447.1","className":"is-ohlc","compact":true},{"label":"High","value":"451.9","className":"is-ohlc","compact":true},{"label":"Low","value":"447.0","className":"is-ohlc","compact":true},{"label":"Close","value":"451.9","className":"is-ohlc","compact":true},{"label":"Market 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Dynamics","value":"-0.45","note":"Cautious and weakening","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"492.2","className":"is-ohlc","compact":true},{"label":"High","value":"494.8","className":"is-ohlc","compact":true},{"label":"Low","value":"478.1","className":"is-ohlc","compact":true},{"label":"Close","value":"485.9","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.45","note":"Cautious but repairing","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}]],"pressureRange":[-2.3,2.3],"priceRange":[447.6375,526.7375],"zones":{"accumulationBoundary":-1.5,"accumulationDarkBoundary":-2.0,"distributionBoundary":1.5,"distributionDarkBoundary":2.0},"latest":-0.449972,"state":"Price is moving ahead of Market Dynamics","context":{"scenario":"priceAhead","latestDirection":"slight strengthening","fourWeekDirection":"weakening","now":{"label":"Slightly stronger this week","detail":"Market Dynamics improved this week but remains below zero."},"fourWeek":{"label":"Weakened over four weeks","detail":"Underlying support has contracted across the recent completed path."},"price":{"label":"Price is ahead of the underlying support","detail":"Price is extended relative to Market Dynamics. The gap is a downside-risk warning until support catches up or price resets."}},"diagnosis":{"label":"Price response ahead of support","detail":"Price has advanced further through its recent range than Market Dynamics. The gap is an early-downside risk watch; stronger underlying support or a price reset is needed to close it.","tone":"caution"},"chartSummary":"Price is between the outer positioning zones. The Market Dynamics bars show whether underlying support is strengthening or weakening.","summary":"Price has advanced further through its recent range than Market Dynamics. The gap is an early-downside risk watch; stronger underlying support or a price reset is needed to close it.","annotations":[{"label":"Current tape relationship","value":"Price response ahead of support","detail":"Market Dynamics improved this week but remains below zero.","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":"Lagging price","detail":"Price is extended relative to Market Dynamics. The gap is a downside-risk warning until support catches up or price resets.","tone":"negative"}],"relationshipEvidence":{"available":false,"observations":18,"summary":"More completed weekly history is needed for a dependable ticker-level record."},"events":{"positioning_recoveries":[],"reversal_warnings":[{"date":"2026-05-29","price":496.950012}],"reversal_dangers":[{"date":"2026-06-26","price":503.4}]}},"smTape":{"available":true,"dates":["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","2026-08-21"],"close":[370.9,377.625,512.952,392.5,382.95,392.55,377.85,385.05,386.925,381.475,383.4,382.9,393.8,404.1,411.0,412.05,415.025,420.4,428.55,441.325,446.9,414.425,413.5,407.375,401.675,410.55,432.55,452.4,451.875,453.775,478.0,474.05,478.7,496.95,482.375,497.725,522.5,503.4,501.3,492.55,462.875,473.65,465.925,478.475,485.75,485.85],"consensus":[-100.0,22.3215,100.0,-37.8719,-15.4972,8.9936,-44.9688,0.0,14.2963,-30.2293,12.0136,0.0,42.0894,61.2479,49.0791,40.2155,38.1815,56.9926,48.2787,65.7686,54.9551,-39.7353,-10.9038,-36.8013,-41.2558,0.0,61.1729,74.4013,48.9336,46.0258,80.6989,27.7111,56.7409,59.3938,0.0,64.1233,73.3685,17.1091,30.5201,0.0,-65.145,0.0,-25.834,11.6847,31.7492,9.3525],"supportDates":["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","2026-08-21"],"control":[null,null,null,null,null,0.4864,-46.833,0.0,19.887,-35.9826,14.1327,0.0,37.6161,56.255,35.5269,34.9233,32.0038,57.6694,35.9849,76.6868,51.2757,-39.7481,-6.3952,-36.4854,-42.2671,0.0,58.1366,76.3588,55.7081,48.3369,84.3252,18.8571,61.2054,50.4048,0.0,74.3722,78.2497,13.3335,26.1192,0.0,-67.6712,0.0,-15.9291,28.0339,34.3332,5.0653],"force":[-100.0,22.3215,100.0,-37.8719,-36.8712,12.9502,-39.6899,0.0,22.7324,-27.202,26.062,0.0,72.6109,78.7786,52.6068,18.8263,31.9497,64.9749,58.3004,51.7515,46.331,-88.7712,-10.7672,-42.2915,-37.5955,0.0,90.9063,94.2309,24.9742,24.4752,94.5036,6.1616,41.0425,61.5407,0.0,49.5898,70.4656,20.7129,4.6755,0.0,-84.9984,0.0,-15.8931,24.7534,34.9735,1.2581],"direction":[null,null,null,null,-0.2301,17.0017,-46.609,0.0,1.8813,-25.8163,0.4428,0.0,25.4006,54.4321,62.0473,61.5418,49.6931,50.5174,55.1704,63.303,65.3201,-4.6951,-16.1542,-33.2408,-42.7146,0.0,43.4047,58.0003,58.3051,58.7779,66.6942,62.0246,62.8517,68.1335,0.0,62.7914,69.8635,48.4399,54.0103,0.0,-48.0768,0.0,-44.2544,16.3348,26.493,20.0337],"intensity":[null,null,null,null,50.0,60.0,66.6667,28.5714,12.5,22.2222,40.0,27.2727,75.0,76.9231,64.2857,6.6667,18.75,23.5294,88.8889,73.6842,75.0,90.4762,86.3636,30.4348,54.1667,44.0,88.4615,81.4815,75.0,10.3448,90.0,38.7097,34.375,93.9394,67.6471,71.4286,88.8889,72.973,7.8947,38.4615,90.0,80.4878,66.6667,58.1395,34.0909,20.0],"confirmation":[54.6667,29.8096,54.6667,34.7857,28.6029,48.5801,82.2007,28.5419,50.0801,77.4934,49.668,2.8974,82.4669,88.2097,84.0193,80.2978,80.1223,86.4706,83.9419,88.4524,85.3789,59.5429,48.8871,79.9486,81.0749,27.3936,88.5277,92.3829,82.8253,82.0363,94.1891,54.6179,85.6106,87.2084,32.8984,87.9204,91.3151,31.4652,54.3792,27.4641,89.413,8.8487,76.1148,30.0397,78.2186,18.3442],"persistence":[null,null,33.3333,0.0,20.0,0.0,14.2857,12.5,12.5,12.5,12.5,0.0,25.0,25.0,50.0,62.5,62.5,87.5,87.5,100.0,100.0,75.0,50.0,25.0,0.0,12.5,12.5,12.5,12.5,12.5,37.5,62.5,87.5,100.0,87.5,87.5,87.5,87.5,87.5,75.0,50.0,37.5,25.0,25.0,25.0,25.0],"assessmentRisk":[null,null,null,null,14.351,4.5927,24.9305,9.3322,4.0711,6.1155,1.2156,2.7406,14.5686,9.7051,0.2504,15.042,30.5613,20.6839,25.3337,17.1149,22.5222,4.7141,38.5635,31.3712,29.3379,19.9175,15.072,12.693,25.484,26.8452,9.4731,31.3632,19.3745,20.0105,16.7933,16.0058,13.2313,12.9769,28.1886,20.007,17.3687,48.758,35.752,41.963,29.1697,28.2325],"volumeParticipation":true,"latest":{"consensus":9.4,"control":5.1,"force":1.3,"direction":20.0,"confirmation":18.3,"persistence":25.0,"assessmentRisk":28.2,"intensity":20.0,"evidenceDepth":100},"analysis":{"status":"Price structure has stronger support","headline":"The gauges support the price-technical view","summary":"Price structure and Market Dynamics disagree. The completed evidence gives the upward price structure stronger support.","take":"Current assessment: price structure remains primary, but the disagreement lowers confirmation.","tone":"positive","supportedView":"Price structure","direction":"upward","disagreement":true},"support":{"window":"Latest 12 months","controlState":"Control support is limited","controlPath":"Broadly stable","forceState":"Commitment is limited","forcePath":"Broadly stable","directionState":"Upward follow-through","persistenceState":"Unsettled","confirmationState":"Limited support","riskState":"Contained","intensityState":"Quiet"},"cards":[{"label":"SM Consensus Gauge","value":"+9.4","detail":"Price structure has stronger support","tone":"positive"},{"label":"SM Control Gauge","value":"+5.1","detail":"Control support is limited","tone":"positive"},{"label":"SM Force Gauge","value":"+1.3","detail":"Commitment is limited","tone":"positive"},{"label":"SM Direction Gauge","value":"+20.0","detail":"Upward 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direction.","series":[{"label":"Impulse","values":[null,null,null,null,null,null,null,null,null,null,null,null,3.4339,4.505,5.8432,6.9088,7.9023,9.0194,10.442,12.4566,14.3378,13.0577,11.8322,10.2485,8.4363,7.6283,8.6633,10.959,12.5908,13.8774,16.6597,18.3346,19.8089,22.1941,22.6472,23.9686,26.7071,27.0246,26.7979,25.6169,22.0325,19.8326,17.2668,16.0609,15.5134,14.9157],"stroke":"#1678a7","width":2.0},{"label":"Signal","values":[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,5.3016,6.0452,6.9246,8.031,9.2923,10.0454,10.4028,10.3719,9.9848,9.5135,9.3435,9.6666,10.2514,10.9766,12.1132,13.3575,14.6478,16.157,17.4551,18.7578,20.3476,21.683,22.706,23.2882,23.037,22.3962,21.3703,20.3084,19.3494,18.4627],"stroke":"#b87806","width":1.7},{"label":"Expansion","values":[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,2.6007,2.9742,3.5174,4.4257,5.0455,3.0123,1.4294,-0.1234,-1.5485,-1.8852,-0.6801,1.2924,2.3394,2.9008,4.5465,4.9771,5.1611,6.037,5.1921,5.2108,6.3594,5.3416,4.0919,2.3287,-1.0046,-2.5636,-4.1035,-4.2475,-3.836,-3.547],"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],"stroke":"#8fa0af","width":1.0,"dash":[6,5]}],"dates":["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","2026-08-21"]},{"key":"participation","eyebrow":"Participation","title":"Activity 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Market Dynamics construction and private inputs are not disclosed. Historical research is not a forecast or instruction to trade."}