{"schema_version":"1.0","name":"QALT Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"ebf32a41-efa8-46eb-add8-315efbc9bc1f","symbol":"QALT","name":"SEI DBI MULTI-STRATEGY ALTERNATIVE ETF","exchange":"NASDAQ","country":"US","asset_type":"etf","currency":"USD","sector":null,"industry":null},"summary":"Market Dynamics eased this week but 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, Activity pressure and cumulative balance, Directional strength and control, Range pressure and compression, Range position and boundary pressure, Directional pressure and rotation."},{"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":52,"displayedObservations":52,"assetType":"ETF","state":"Aligned upward","stateTone":"positive","summary":"Market Dynamics eased this week but 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 eased this week but 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":["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"],"values":[0.002007,-0.11387,-0.368957,-0.496402,-0.607901,-0.635756,-0.605217,-0.575698,-0.524556,-0.461815,-0.368014,-0.217541,-0.160847,0.071301,0.282405,0.449147,0.658667,0.717305,0.778916,0.845094,0.858949,0.764038,0.744328,0.664933],"opens":[25.038522,25.1578,25.19756,25.127981,25.28,25.3,25.3,25.43,25.45,25.76,25.95,26.11,25.99991,25.989967,26.248475,26.506982,26.298188,26.58,26.43,26.45,26.55,26.22,26.48,27.04],"highs":[25.406297,26.092147,25.267139,25.237319,25.31,25.36,25.4,25.47,25.78,26.0354,26.17,26.24,26.208704,26.149049,26.372757,26.506982,26.417499,26.59,26.5,26.63,26.55,26.605,26.65,27.04],"lows":[24.849664,25.108101,25.13802,25.127981,25.06,25.1,25.2756,25.19,25.39,25.76,25.92,26.11,25.910426,25.741402,26.149049,26.07945,25.950197,26.16,26.25,25.85,26.15,26.22,26.22,26.25],"closes":[25.13792,25.111977,25.247259,25.222409,25.2794,25.3,25.4,25.405,25.775,25.9563,26.105,26.202,25.93409,26.11425,26.372757,26.181561,26.183848,26.38,26.3451,26.4955,26.399,26.48,26.6348,26.5364],"hoverRows":[[{"label":"Open","value":"25.0","className":"is-ohlc","compact":true},{"label":"High","value":"25.4","className":"is-ohlc","compact":true},{"label":"Low","value":"24.8","className":"is-ohlc","compact":true},{"label":"Close","value":"25.1","className":"is-ohlc","compact":true},{"label":"Market 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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 eased this week but 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":false,"observations":24,"summary":"More completed weekly history is needed for a dependable ticker-level record."},"events":{"positioning_recoveries":[],"reversal_warnings":[],"reversal_dangers":[]}},"smTape":{"available":true,"dates":["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","2026-08-21"],"close":[23.5216,23.5807,23.8465,23.9901,23.9462,24.1451,23.7347,24.2071,24.5329,24.5333,24.3641,24.4927,24.3393,24.6291,24.5684,24.6111,24.7865,24.8498,24.8825,25.0926,25.2109,25.3175,25.3666,25.8395,26.0055,26.1681,26.299,25.1527,25.1379,25.112,25.2473,25.2224,25.2794,25.3,25.4,25.405,25.775,25.9563,26.105,26.202,25.9341,26.1142,26.3728,26.1816,26.1838,26.38,26.3451,26.4955,26.399,26.48,26.6348,26.5364],"consensus":[93.3399,48.2834,81.6551,23.9384,0.0,9.1857,-13.3431,0.0,17.3077,0.0,0.0,0.0,0.0,14.1417,0.0,0.0,18.4849,16.5268,16.2271,20.9365,12.3058,16.8829,0.0,36.6936,23.6601,20.7584,26.0928,-31.8748,-8.6371,-18.8315,0.0,0.0,9.1749,0.0,17.5793,8.5067,34.5824,29.4182,31.8399,31.5065,0.0,28.1419,39.6819,0.0,11.2618,22.847,0.0,30.6196,8.2605,22.0705,36.3188,4.571],"supportDates":["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","2026-08-21"],"control":[null,null,null,null,null,12.9391,-23.19,0.0,23.4942,0.0,0.0,0.0,0.0,21.2415,0.0,0.0,27.058,26.1069,24.859,28.6102,13.5077,20.6345,0.0,42.6601,25.1911,15.8528,26.9716,-33.213,-3.7017,-17.6318,0.0,0.0,14.7666,0.0,26.4475,11.955,41.3492,31.6111,34.1676,32.8115,0.0,34.4099,50.3281,0.0,8.8777,19.7967,0.0,26.3904,8.575,26.4961,38.7572,5.6085],"force":[93.3399,48.2834,81.6551,23.9384,0.0,7.4009,-15.322,0.0,17.8141,0.0,0.0,0.0,0.0,13.1424,0.0,0.0,18.025,13.3808,12.836,19.7231,8.0772,12.7642,0.0,42.4499,14.8732,15.6841,16.3021,-55.1119,-5.1494,-20.0313,0.0,0.0,12.9954,0.0,22.2359,8.1493,40.3369,24.6893,24.098,20.2086,0.0,27.4985,33.6229,0.0,1.612,20.9699,0.0,39.0294,9.7183,19.1739,41.718,29.721],"direction":[null,null,null,null,0.0,6.171,-0.6759,0.0,9.8758,0.0,0.0,0.0,0.0,6.7415,0.0,0.0,9.0156,7.8253,8.7842,13.0331,13.9527,15.5373,0.0,25.763,28.1868,29.9891,32.0818,-13.7476,-16.7686,-19.3456,0.0,0.0,0.0555,0.0,4.1179,4.8209,22.7385,30.2897,34.7095,38.0849,0.0,21.4379,31.8427,0.0,20.8791,27.6737,0.0,29.446,20.7432,19.0818,29.6754,14.579],"intensity":[null,null,null,null,25.0,40.0,83.3333,85.7143,62.5,55.5556,30.0,18.1818,16.6667,69.2308,14.2857,20.0,25.0,76.4706,5.5556,47.3684,45.0,19.0476,59.0909,95.6522,87.5,96.0,76.9231,96.2963,92.8571,93.1034,93.3333,3.2258,15.625,12.1212,29.4118,20.0,72.2222,72.973,26.3158,38.4615,57.5,36.5854,76.1905,39.5349,18.1818,46.6667,17.3913,76.5957,64.5833,14.2857,26.0,76.4706],"confirmation":[52.5354,38.1174,48.7963,30.3269,1.0938,25.4945,49.5134,47.8094,73.4596,24.5966,1.9984,1.932,47.3312,49.72,0.9267,1.3934,73.7705,50.3801,72.9578,74.5458,71.7907,73.2198,24.8096,79.8265,75.2801,74.5628,76.0379,78.8877,25.3994,74.0809,4.2115,48.0402,48.3005,47.6341,50.9655,47.992,79.1386,77.2363,77.9174,77.7179,28.6197,76.8903,80.3513,5.2825,48.6793,75.3003,3.4153,78.119,26.8306,74.9068,79.7494,13.3236],"persistence":[null,null,100.0,100.0,80.0,83.3333,57.1429,50.0,50.0,37.5,25.0,12.5,12.5,12.5,25.0,25.0,25.0,37.5,50.0,62.5,75.0,75.0,75.0,87.5,87.5,87.5,87.5,62.5,37.5,12.5,12.5,0.0,0.0,12.5,12.5,12.5,37.5,62.5,75.0,87.5,75.0,87.5,87.5,75.0,75.0,75.0,62.5,62.5,75.0,75.0,75.0,75.0],"assessmentRisk":[null,null,null,null,48.5087,45.4042,16.5275,30.6703,40.4128,46.3559,49.7848,42.9088,31.4253,12.5575,34.3,24.0232,38.7972,29.2655,36.204,39.0458,43.5377,41.4879,46.3903,31.6484,38.1673,39.6206,36.9536,31.8897,44.8691,40.3051,50.7665,6.2003,14.2518,20.6555,11.456,19.3902,27.3218,33.0779,32.4098,33.2704,43.6491,26.0483,27.5797,3.8579,39.7943,34.5588,11.1615,32.2242,37.8475,17.3975,29.6033,15.1376],"volumeParticipation":true,"latest":{"consensus":4.6,"control":5.6,"force":29.7,"direction":14.6,"confirmation":13.3,"persistence":75.0,"assessmentRisk":15.1,"intensity":76.5,"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":"Control support is limited","controlPath":"Control support is easing","forceState":"Upward commitment","forcePath":"Broadly stable","directionState":"Upward follow-through","persistenceState":"Established","confirmationState":"Limited support","riskState":"Contained","intensityState":"Elevated"},"cards":[{"label":"SM Consensus Gauge","value":"+4.6","detail":"Joint upward confirmation","tone":"positive"},{"label":"SM Control Gauge","value":"+5.6","detail":"Control support is limited","tone":"positive"},{"label":"SM Force Gauge","value":"+29.7","detail":"Upward commitment","tone":"positive"},{"label":"SM Direction Gauge","value":"+14.6","detail":"Upward follow-through","tone":"positive"},{"label":"SM Confirmation Gauge","value":"13/100","detail":"Limited support","tone":"caution"}]},"kpis":[{"label":"Price structure","value":"Aligned upward","detail":"completed-week alignment","tone":"positive"},{"label":"Momentum","value":"66.5","detail":"Positive","tone":"positive"},{"label":"Risk pressure","value":"2.2%","detail":"Contained","tone":"neutral"},{"label":"Trend quality","value":"32.9","detail":"Directional","tone":"positive"},{"label":"Range position","value":"77%","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":[23.5216,23.5807,23.8465,23.9901,23.9462,24.1451,23.7347,24.2071,24.5329,24.5333,24.3641,24.4927,24.3393,24.6291,24.5684,24.6111,24.7865,24.8498,24.8825,25.0926,25.2109,25.3175,25.3666,25.8395,26.0055,26.1681,26.299,25.1527,25.1379,25.112,25.2473,25.2224,25.2794,25.3,25.4,25.405,25.775,25.9563,26.105,26.202,25.9341,26.1142,26.3728,26.1816,26.1838,26.38,26.3451,26.4955,26.399,26.48,26.6348,26.5364],"stroke":"#10243b","width":2.1},{"label":"Fast trend","values":[null,null,null,null,23.7139,23.7923,23.7818,23.8592,23.9816,24.082,24.1332,24.1986,24.2242,24.2978,24.347,24.395,24.4662,24.5359,24.599,24.6887,24.7836,24.8807,24.9691,25.1273,25.287,25.4472,25.6021,25.5204,25.4508,25.3892,25.3634,25.3378,25.3272,25.3222,25.3364,25.3488,25.4263,25.5227,25.6286,25.7328,25.7694,25.8321,25.9304,25.9761,26.0139,26.0804,26.1285,26.1953,26.2323,26.2773,26.3423,26.3776],"stroke":"#176fa3","width":1.7},{"label":"Slow trend","values":[null,null,null,null,null,null,null,null,null,null,null,null,23.9357,23.987,24.0301,24.0731,24.126,24.1796,24.2316,24.2954,24.3632,24.4339,24.503,24.602,24.706,24.8143,24.9243,24.9412,24.9558,24.9673,24.9881,25.0054,25.0257,25.046,25.0723,25.0969,25.1471,25.2071,25.2736,25.3424,25.3862,25.4401,25.5092,25.559,25.6053,25.6627,25.7132,25.7712,25.8177,25.8667,25.9236,25.969],"stroke":"#07865c","width":1.8},{"label":"Upper envelope","values":[null,null,null,null,null,null,null,null,null,24.6773,24.7113,24.768,24.7759,24.8447,24.883,24.9213,24.988,25.0545,25.1146,25.2063,25.2874,25.3697,25.4681,25.6735,25.8752,26.0919,26.2518,26.2451,26.2516,26.2531,26.2454,26.2387,26.21,26.2024,26.187,26.1652,26.1905,26.238,26.3006,26.3839,26.4164,26.4728,26.5692,26.6097,26.6333,26.6689,26.677,26.7584,26.8026,26.8385,26.8978,26.9143],"stroke":"#98a9b8","width":1.0,"dash":[6,5]},{"label":"Lower envelope","values":[null,null,null,null,null,null,null,null,null,23.3304,23.3619,23.3812,23.4139,23.4215,23.4412,23.4591,23.4625,23.4654,23.4709,23.4591,23.5469,23.6384,23.692,23.6715,23.6757,23.6613,23.7578,23.8591,23.9131,23.9695,24.0655,24.1452,24.2679,24.3425,24.4412,24.5423,24.6159,24.6791,24.7387,24.7663,24.8062,24.8294,24.8336,24.8274,24.8215,24.8071,24.8037,24.8565,24.9385,25.0394,25.1188,25.2337],"stroke":"#98a9b8","width":1.0,"dash":[6,5]}],"guides":[],"dates":["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","2026-08-21"]},{"key":"participation","eyebrow":"Participation","title":"Activity pressure and cumulative balance","description":"Observed activity is compared with its normal backdrop while cumulative balance tracks directional participation.","reason":"Selected because participation is confirming or diverging from the latest price path.","series":[{"label":"Activity versus norm","values":[null,null,null,null,null,null,null,152.1594,170.4528,93.8307,111.852,127.5078,89.5285,62.8406,86.9136,84.9082,100.5435,57.5227,67.8012,108.6688,96.1011,70.3914,84.717,163.8048,85.8456,293.92,87.219,81.2234,120.9871,105.9037,83.9076,65.9604,90.672,134.9395,133.9457,85.4168,67.0146,62.8952,63.1832,55.0049,72.435,75.5022,51.0715,78.8925,87.7558,134.3229,123.6316,309.5688,144.5024,79.3973,149.113,254.4762],"stroke":"#1678a7","width":1.8},{"label":"Cumulative 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quality","title":"Directional strength and control","description":"Directional pressure shows which side controls the tape while strength remains direction-neutral.","reason":"Selected because directional control or trend strength is materially changing.","series":[{"label":"Trend strength","values":[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,55.6394,52.856,50.0178,48.6286,47.3387,46.1092,45.0964,44.2471,43.5344,42.5334,42.2141,42.3472,42.6794,43.0955,42.6305,41.5333,40.9747,40.7125,39.9475,39.5921,39.2621,37.4101,35.6903,34.2477,33.0379,32.9013],"stroke":"#10243b","width":2.0},{"label":"Positive 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