{"schema_version":"1.0","name":"BKNG Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"eee734e6-0548-488c-83aa-fb45c33b1887","symbol":"BKNG","name":"Booking Holdings Inc.","exchange":"TOR","country":"CA","asset_type":"etf","currency":"CAD","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, Acceleration, deceleration and rollover, Range position and boundary pressure, Activity pressure and cumulative balance, Range pressure and compression, Directional strength and control."},{"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":34,"displayedObservations":34,"assetType":"ETF","state":"Aligned upward","stateTone":"positive","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":["2026-07-17","2026-07-24","2026-07-31","2026-08-07","2026-08-14","2026-08-21"],"values":[0.692145,0.845056,0.922278,1.067891,1.172868,1.357261],"opens":[29.379999,29.620001,30.0,31.49,34.07,34.189999],"highs":[29.66,29.620001,33.25,35.0,34.849998,35.02],"lows":[29.24,27.98,29.959999,31.0,33.950001,33.299999],"closes":[29.66,28.860001,31.66,34.849998,34.549999,34.09],"hoverRows":[[{"label":"Open","value":"29.4","className":"is-ohlc","compact":true},{"label":"High","value":"29.7","className":"is-ohlc","compact":true},{"label":"Low","value":"29.2","className":"is-ohlc","compact":true},{"label":"Close","value":"29.7","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"Unavailable","note":"Insufficient completed history","className":"is-muted","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"29.6","className":"is-ohlc","compact":true},{"label":"High","value":"29.6","className":"is-ohlc","compact":true},{"label":"Low","value":"28.0","className":"is-ohlc","compact":true},{"label":"Close","value":"28.9","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"Unavailable","note":"Insufficient completed history","className":"is-muted","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"30.0","className":"is-ohlc","compact":true},{"label":"High","value":"33.2","className":"is-ohlc","compact":true},{"label":"Low","value":"30.0","className":"is-ohlc","compact":true},{"label":"Close","value":"31.7","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"Unavailable","note":"Insufficient completed history","className":"is-muted","wide":true},{"label":"Signal / event","value":"Positioning recovery","className":"is-positive","wide":true}],[{"label":"Open","value":"31.5","className":"is-ohlc","compact":true},{"label":"High","value":"35.0","className":"is-ohlc","compact":true},{"label":"Low","value":"31.0","className":"is-ohlc","compact":true},{"label":"Close","value":"34.8","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"Unavailable","note":"Insufficient completed history","className":"is-muted","wide":true},{"label":"Signal / event","value":"Reversal warning","className":"is-caution","wide":true}],[{"label":"Open","value":"34.1","className":"is-ohlc","compact":true},{"label":"High","value":"34.8","className":"is-ohlc","compact":true},{"label":"Low","value":"34.0","className":"is-ohlc","compact":true},{"label":"Close","value":"34.5","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"Unavailable","note":"Insufficient completed history","className":"is-muted","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"34.2","className":"is-ohlc","compact":true},{"label":"High","value":"35.0","className":"is-ohlc","compact":true},{"label":"Low","value":"33.3","className":"is-ohlc","compact":true},{"label":"Close","value":"34.1","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"Unavailable","note":"Insufficient completed history","className":"is-muted","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}]],"pressureRange":[-2.3,2.3],"priceRange":[28.500601,35.209398],"zones":{"accumulationBoundary":-1.5,"accumulationDarkBoundary":-2.0,"distributionBoundary":1.5,"distributionDarkBoundary":2.0},"state":"Insufficient history","context":{"scenario":"developing","latestDirection":"strengthening","fourWeekDirection":"strengthening","now":{"label":"Stronger this week","detail":"Market Dynamics strengthened this week and remains positive."},"fourWeek":{"label":"Strengthened over four weeks","detail":"Underlying support has strengthened 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":"Zone progression","detail":"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.","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 strengthened this week and remains positive.","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":"31 Jul 2026","detail":"The green dot marks a confirmed recovery where institutional positioning is most plausible.","tone":"positive"},{"label":"Market Dynamics confirmation","value":"Unavailable","detail":"Too little usable Market Dynamics history is available for a directional confirmation 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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.","invalidate":"Reassess the reading when either price structure or the Market Dynamics state changes materially.","level":"positive","direction":"strengthening","zone":"middle","zoneContext":"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.","historical":{"label":"Broad directional cases","weeks":12,"direction":"lower","sample":0},"nowContext":{"label":"Stronger this week","detail":"Market Dynamics strengthened this week and remains positive."},"fourWeekContext":{"label":"Strengthened over four weeks","detail":"Underlying support has strengthened 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":"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":"The current relationship is visible, but this ticker does not yet have a completed comparable outcome.","watch":"Reassess the reading when either price structure or the Market Dynamics state changes materially."}]},"summary":"This record compares the ticker's completed price path with its published Market Dynamics history."},"events":{"positioning_recoveries":[{"date":"2026-07-31","price":31.66}],"reversal_warnings":[{"date":"2026-08-07","price":34.849998}],"reversal_dangers":[]}},"smTape":{"available":true,"dates":["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":[34.6207,35.808,34.062,33.4733,32.8248,29.2929,27.2775,26.6689,27.7165,29.99,27.85,28.15,26.6,27.2417,28.2192,31.3314,29.4761,27.6107,27.0522,25.0472,26.2342,27.4112,26.91,26.9,28.26,29.46,29.93,29.0,29.66,28.86,31.66,34.85,34.55,34.09],"consensus":[-100.0,100.0,-100.0,9.3215,-63.6301,-73.1229,-74.8303,-59.3343,-8.9942,25.9187,-52.8025,-24.2003,-62.5973,-18.2282,8.1041,65.9701,-13.9177,-39.4455,-40.6161,-71.1446,0.0,17.5442,-28.3842,0.0,37.2141,39.1109,35.3214,11.9886,43.3273,-11.6312,61.7814,80.8742,41.9911,31.1165],"supportDates":["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,-77.6223,-82.3452,-50.1433,-5.066,26.8362,-68.1057,-41.7147,-70.015,-11.015,1.5157,55.4307,-27.6289,-44.963,-45.7349,-73.7731,0.0,14.1199,-40.0469,0.0,41.7459,39.0809,30.8837,2.1437,49.5571,-10.9088,54.915,80.4056,40.6168,23.1107],"force":[-100.0,100.0,-100.0,9.3215,-34.0952,-54.2132,-49.5878,-41.1615,-62.7323,80.6392,-51.9102,-0.7127,-53.9432,-33.529,53.4453,93.733,-40.9844,-62.9326,-41.8399,-90.0398,0.0,63.0485,-27.2668,0.0,42.3735,30.7804,18.1999,6.7949,33.5985,-36.5431,80.6424,96.6647,5.5898,5.3127],"direction":[null,null,null,null,-84.7264,-81.4876,-84.2722,-82.8188,-76.2963,14.2159,-35.9506,-20.9608,-60.3015,-63.4413,16.7528,58.1846,-21.0856,-16.3634,-33.8919,-54.644,0.0,11.0455,-15.8535,0.0,28.3497,45.0957,52.6227,36.6567,43.1568,-5.3374,56.1567,70.1309,69.5626,66.2868],"intensity":[null,null,null,null,25.0,100.0,83.3333,57.1429,25.0,77.7778,70.0,9.0909,50.0,38.4615,85.7143,86.6667,62.5,64.7059,16.6667,63.1579,25.0,52.381,9.0909,17.3913,37.5,48.0,15.3846,29.6296,14.2857,41.3793,93.3333,90.3226,84.375,12.1212],"confirmation":[54.6667,54.6667,54.6667,25.6495,64.3448,90.7545,91.0619,86.5732,15.3701,35.6471,84.6364,52.0947,87.6544,34.1851,7.6495,90.1172,32.2345,81.2543,80.9565,91.3021,32.6558,32.0761,76.8712,2.4238,79.9967,80.2621,78.8487,27.5302,81.4733,50.9642,88.4495,94.3681,57.682,55.0],"persistence":[null,null,33.3333,0.0,20.0,33.3333,42.8571,50.0,50.0,50.0,50.0,75.0,75.0,75.0,50.0,25.0,25.0,50.0,50.0,50.0,37.5,12.5,37.5,50.0,25.0,0.0,25.0,50.0,62.5,37.5,62.5,75.0,75.0,75.0],"assessmentRisk":[null,null,null,null,15.009,13.4162,12.5757,20.3281,45.4074,6.4645,42.7634,48.1108,0.926,38.012,7.6806,14.2539,52.7664,29.3958,10.0543,14.3773,46.9154,14.6311,9.6527,42.3541,25.0058,24.6651,30.746,38.5164,19.4084,18.6888,13.5463,9.538,28.9693,34.4169],"volumeParticipation":true,"latest":{"consensus":31.1,"control":23.1,"force":5.3,"direction":66.3,"confirmation":55.0,"persistence":75.0,"assessmentRisk":34.4,"intensity":12.1,"evidenceDepth":100},"analysis":{"status":"Price structure has the available support","headline":"The gauges support the price-technical view","summary":"Market Dynamics does not provide a directional confirmation. The completed evidence supports the upward price structure.","take":"Current assessment: follow price structure with limited confirmation.","tone":"positive","supportedView":"Price structure","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":"Commitment is easing","directionState":"Upward follow-through","persistenceState":"Established","confirmationState":"Qualified support","riskState":"Contained","intensityState":"Quiet"},"cards":[{"label":"SM Consensus Gauge","value":"+31.1","detail":"Price structure has the available support","tone":"positive"},{"label":"SM Control Gauge","value":"+23.1","detail":"Buyer control supports the view","tone":"positive"},{"label":"SM Force Gauge","value":"+5.3","detail":"Commitment is limited","tone":"positive"},{"label":"SM Direction Gauge","value":"+66.3","detail":"Upward follow-through","tone":"positive"},{"label":"SM Confirmation Gauge","value":"55/100","detail":"Qualified support","tone":"neutral"}]},"kpis":[{"label":"Price structure","value":"Aligned upward","detail":"completed-week alignment","tone":"positive"},{"label":"Momentum","value":"65.6","detail":"Positive","tone":"positive"},{"label":"Risk pressure","value":"5.4%","detail":"Contained","tone":"neutral"},{"label":"Trend quality","value":"26.7","detail":"Directional","tone":"positive"},{"label":"Range position","value":"91%","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 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impulse is unusually active or is approaching a change of direction.","series":[{"label":"Impulse","values":[null,null,null,null,null,null,null,null,null,null,null,null,-1.9111,-1.9516,-1.8831,-1.5597,-1.4365,-1.4725,-1.5284,-1.7148,-1.7465,-1.6576,-1.6091,-1.5535,-1.3838,-1.1393,-0.8972,-0.7716,-0.6117,-0.5433,-0.2601,0.2192,0.5683,0.7986],"stroke":"#1678a7","width":2.0},{"label":"Signal","values":[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,-1.7605,-1.7029,-1.668,-1.6774,-1.6912,-1.6845,-1.6694,-1.6462,-1.5937,-1.5028,-1.3817,-1.2597,-1.1301,-1.0127,-0.8622,-0.6459,-0.4031,-0.1628],"stroke":"#b87806","width":1.7},{"label":"Expansion","values":[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,0.324,0.2304,0.1396,-0.0374,-0.0554,0.0268,0.0603,0.0927,0.21,0.3636,0.4845,0.4881,0.5184,0.4695,0.6021,0.8651,0.9714,0.9613],"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],"stroke":"#8fa0af","width":1.0,"dash":[6,5]}],"dates":["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":"range","eyebrow":"Acceptance map","title":"Range position and boundary pressure","description":"Price location inside its observed range shows whether the tape is pressing an outer boundary or rotating through value.","reason":"Selected because price is testing an observed boundary or moving rapidly through its recent range.","series":[{"label":"Range position","values":[null,null,null,null,null,null,null,11.8156,25.6176,46.4655,26.8415,29.5925,15.3789,21.2631,30.2273,58.7664,41.7527,24.6476,19.5252,1.1394,12.3087,23.0675,18.4858,18.3944,30.8255,41.794,46.1742,38.8287,52.2461,43.4881,80.9864,98.5167,95.55,90.8215],"stroke":"#10243b","width":2.0},{"label":"From high","values":[null,null,null,null,null,null,null,-25.5639,-22.6399,-16.2944,-22.2674,-21.4301,-25.7563,-23.9653,-21.2369,-12.5504,-17.7288,-22.9352,-24.4943,-30.0904,-26.7773,-23.492,-24.891,-24.919,-21.123,-17.7737,-16.4153,-18.2609,-12.8213,-15.1727,-4.782,-0.4286,-1.2857,-2.6556],"stroke":"#c13f3f","width":1.5},{"label":"From 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latest price path.","series":[{"label":"Activity versus norm","values":[null,null,null,null,null,null,null,110.1639,280.8271,100.1353,57.152,22.6558,28.8,573.9288,249.6973,72.5802,46.3463,86.6774,110.582,118.5115,88.6047,653.9372,7.577,24.1153,4.4185,8.6681,0.3426,15.9778,7.0869,36.1582,92.9978,191.9443,86.1656,65.8762],"stroke":"#1678a7","width":1.8},{"label":"Cumulative balance","values":[null,null,null,null,null,null,null,65.0,87.2435,95.1761,90.8346,92.4426,90.513,135.0,135.0,135.0,132.9536,129.1561,124.2827,119.0084,123.1013,135.0,134.7348,133.8838,134.0385,134.3259,134.3369,133.8285,134.0385,132.9776,135.0,135.0,132.5249,130.9206],"stroke":"#07865c","width":1.7}],"guides":[{"label":"Typical 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