{"schema_version":"1.0","name":"ALFA Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"f351d376-aa7a-4b25-99c5-ba1fe2db8f87","symbol":"ALFA","name":"VanEck Australian Long Short Complex ETF","exchange":"ASX","country":"AU","asset_type":"etf","currency":"AUD","sector":null,"industry":null},"summary":"Market Dynamics improved this week but remains below zero. Underlying support has strengthened across the recent completed path. Price has moved below the distribution zone after Market Dynamics 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, Range pressure and compression, Activity pressure and cumulative balance, Strength versus the research benchmark, Acceleration, deceleration and rollover, 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":83,"displayedObservations":83,"assetType":"ETF","state":"Aligned downward","stateTone":"negative","summary":"Market Dynamics improved this week but remains below zero. Underlying support has strengthened across the recent completed path. Price has moved below the distribution zone after Market Dynamics weakened.","evidenceAlignment":{"status":"Downside evidence aligned","headline":"Price and Market Dynamics now support the same downside case","summary":"Market Dynamics improved this week but remains below zero. Underlying support has strengthened across the recent completed path. Price has moved below the distribution zone after Market Dynamics weakened.","take":"The downside is confirmed on the completed evidence. A recovery in both price and Market Dynamics would challenge it.","tone":"negative","conflict":false},"marketDynamics":{"available":true,"readAvailable":true,"dates":["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","2026-08-21"],"values":[0.003767,-0.015986,0.021063,0.156267,0.199704,0.324718,0.459233,0.488514,0.686152,0.906387,1.123597,1.152502,1.085334,0.712962,0.212156,-0.225481,-0.631221,-0.785004,-0.823188,-0.833166,-0.816812,-0.835304,-0.802446,-0.699546,-0.513292,-0.299762,-0.232166,-0.047899,0.040141,0.232421,0.528546,0.663215,0.621875,0.597969,0.591258,0.595189,0.74334,0.719548,0.676788,0.634632,0.666187,0.638037,0.725015,0.493386,0.407695,0.208697,-0.179874,-0.393495,-0.844978,-1.054926,-1.165664,-1.126996,-0.929939,-0.774279,-0.663923],"opens":[20.73,21.379999,21.33,21.549999,22.84,22.57,23.1,23.0,23.110001,24.35,24.309999,24.0,23.440001,22.950001,22.379999,21.639999,21.0,21.25,20.719999,20.700001,21.290001,21.68,21.43,21.889999,22.77,23.309999,22.65,21.66,22.48,23.0,24.280001,23.139999,22.52,21.99,22.809999,23.360001,23.799999,24.0,23.444971,22.810521,23.425144,23.395405,23.712632,24.773354,23.772111,23.37558,23.088094,22.51,22.360001,22.209999,22.4,23.0,22.57,23.17,22.93],"highs":[21.780001,21.51,21.459999,23.299999,22.92,23.08,23.1,23.360001,24.35,24.620001,24.469999,24.17,23.74,23.0,22.85,21.68,21.42,21.25,21.0,21.200001,22.0,21.68,22.08,22.700001,23.25,23.35,22.65,22.99,23.0,24.02,24.4,23.139999,22.709999,23.02,25.0,24.030001,23.99,24.0,23.524279,23.940637,23.762198,23.722544,24.138905,24.773354,23.960465,23.4648,23.1674,22.799999,22.440001,22.309999,22.469999,23.0,23.190001,23.5,23.0],"lows":[20.73,21.15,21.110001,21.549999,22.219999,22.57,22.35,22.82,23.110001,24.200001,23.77,23.115,22.629999,21.969999,21.4,20.639999,20.959999,20.540001,20.530001,20.67,21.290001,21.18,21.32,21.889999,22.6,22.639999,21.200001,21.66,22.48,23.0,23.07,22.09,21.870001,21.549999,22.57,23.334999,23.57,23.4,23.157486,22.770867,23.415232,23.157486,23.623411,23.435058,23.509409,23.296273,22.98896,22.5,22.309999,22.200001,22.219999,22.26,22.450001,22.700001,22.42],"closes":[21.66,21.51,21.42,23.07,22.57,23.02,22.68,23.120001,24.35,24.34,23.84,23.389999,22.950001,22.0,21.469999,20.75,21.25,20.719999,20.98,21.200001,21.59,21.43,21.93,22.6,23.040001,22.639999,21.280001,22.48,22.799999,24.02,23.139999,22.809999,22.110001,22.780001,23.09,23.799999,23.73,23.540001,23.524279,23.474712,23.484627,23.68289,24.138905,23.444971,23.742373,23.395407,22.98896,22.799999,22.440001,22.280001,22.25,22.57,23.17,22.780001,22.799999],"hoverRows":[[{"label":"Open","value":"20.7","className":"is-ohlc","compact":true},{"label":"High","value":"21.8","className":"is-ohlc","compact":true},{"label":"Low","value":"20.7","className":"is-ohlc","compact":true},{"label":"Close","value":"21.7","className":"is-ohlc","compact":true},{"label":"Market 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The completed tape now carries a stronger continuation-risk warning.","historical":{"label":"Broad directional cases","weeks":12,"direction":"lower","percent":0.0,"averageReturn":7.6,"sample":1},"nowContext":{"label":"Stronger this week","detail":"Market Dynamics improved this week but remains below zero."},"fourWeekContext":{"label":"Strengthened over four weeks","detail":"Underlying support has strengthened across the recent completed path."},"priceContext":{"label":"Price has moved below distribution","detail":"Price left the upper zone as Market Dynamics weakened."}},"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, 0.0% of comparable cases moved lower after 12 weeks, with an average move of 7.6% across 1 cases.","watch":"A recovery in both price and Market Dynamics would remove the rollover warning."},{"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 1.0 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 0.4% across 1 completed cases, with the largest move arriving after 7.0 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":[],"reversal_warnings":[{"date":"2025-08-29","price":23.07},{"date":"2026-01-23","price":23.040001},{"date":"2026-04-03","price":23.09},{"date":"2026-08-07","price":23.17}],"reversal_dangers":[{"date":"2025-09-05","price":22.57},{"date":"2026-01-30","price":22.639999},{"date":"2026-06-05","price":23.444971},{"date":"2026-08-14","price":22.780001}]}},"smTape":{"available":true,"dates":["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","2026-08-21"],"close":[20.7838,20.7938,21.0723,21.4206,21.0922,20.4455,19.8585,18.6746,19.0328,18.7044,17.9682,18.7044,19.2218,19.3312,19.8088,20.4356,20.0376,21.142,21.6792,22.0673,22.0175,21.4703,21.2713,20.91,20.67,20.86,20.0,20.94,21.66,21.51,21.42,23.07,22.57,23.02,22.68,23.12,24.35,24.34,23.84,23.39,22.95,22.0,21.47,20.75,21.25,20.72,20.98,21.2,21.59,21.43,21.93,22.6,23.04,22.64,21.28,22.48,22.8,24.02,23.14,22.81,22.11,22.78,23.09,23.8,23.73,23.54,23.5243,23.4747,23.4846,23.6829,24.1389,23.445,23.7424,23.3954,22.989,22.8,22.44,22.28,22.25,22.57,23.17,22.78,22.8],"consensus":[90.2654,9.9997,0.0,-22.434,8.8753,-44.1806,-51.3858,-73.3329,-17.6886,-55.5507,-52.3183,8.3822,0.0,0.0,39.5548,57.561,0.0,65.3022,58.2707,49.5793,33.0537,0.0,0.0,-22.9015,-26.8057,12.4369,-53.6725,34.6172,48.2015,29.0171,27.0683,70.8277,16.6579,55.9347,17.2967,35.4671,75.1491,33.6776,0.0,0.0,-27.7855,-61.8298,-56.2142,-63.8734,-14.0868,-56.3642,-9.5505,0.0,9.3226,-8.188,32.0583,49.2718,48.6104,0.0,-49.3116,29.7768,24.3692,67.0375,0.0,0.0,-35.0064,25.7178,16.0859,46.2229,21.4513,0.0,25.5758,9.5269,0.0,27.4277,51.0701,-26.4806,22.4625,-8.9176,-39.4429,-12.4502,-24.6782,-29.048,-39.9315,-10.118,42.367,-21.767,-3.7076],"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":[71.1328,11.8379,61.6635,7.0615,42.365,82.3746,25.8031,0.0,0.0,-19.1771,-57.0053,-52.0701,-67.8122,-5.6486,-55.9481,-3.0822,0.0,7.8316,-16.6131,32.3172,54.9501,48.8735,0.0,-54.0446,39.5232,35.1416,77.6833,0.0,0.0,-34.8301,31.8027,11.5579,46.4508,14.3395,0.0,31.3457,16.0339,0.0,33.9401,54.5725,-32.2344,17.3992,-6.5035,-45.0487,-0.1208,-11.7754,-19.735,-42.6877,-9.7749,41.9489,-28.7789,-1.3206],"force":[84.1209,23.0453,43.4777,12.1429,20.8468,77.5504,4.2838,0.0,0.0,-60.4965,-91.858,-65.6217,-60.1253,-28.9894,-52.7816,-21.8455,0.0,31.4211,-2.7302,47.1517,49.0527,44.9104,0.0,-58.1655,37.8444,16.2823,62.9122,0.0,0.0,-49.0902,63.3471,26.0524,50.7731,1.2326,0.0,16.1756,3.1819,0.0,28.123,62.9756,-57.0415,37.6398,-12.9357,-36.6394,-0.9625,-10.023,-11.3473,-22.0316,-13.215,70.555,-44.5174,-9.1308],"direction":[60.9839,50.5258,58.2854,50.0224,38.0267,65.1762,63.6725,0.0,0.0,-14.2588,-45.8949,-54.2308,-62.0492,-54.4991,-59.3986,-46.4134,0.0,4.7581,-2.4579,20.9815,42.9389,50.9527,0.0,-37.5783,12.8756,17.8342,57.8175,0.0,0.0,-25.1481,8.1145,14.142,42.7124,44.021,0.0,25.6959,6.6225,0.0,19.4885,38.5635,-1.9243,17.4084,-8.8064,-35.0387,-36.1214,-49.8923,-52.3347,-49.5674,-27.1765,22.7105,-2.4969,-5.5803],"intensity":[93.5484,50.0,30.303,17.6471,34.2857,88.8889,81.0811,36.8421,48.7179,35.0,75.6098,45.2381,86.0465,36.3636,40.0,8.6957,8.5106,66.6667,14.2857,40.0,58.8235,61.5385,23.0769,94.2308,88.4615,69.2308,90.3846,75.0,92.3077,57.6923,50.0,98.0769,78.8462,9.6154,5.7692,32.6923,26.9231,48.0769,11.5385,32.6923,61.5385,71.1538,38.4615,23.0769,38.4615,17.3077,3.8462,5.7692,51.9231,55.7692,23.0769,48.0769],"confirmation":[91.0653,31.777,85.4322,7.3842,78.7988,92.0108,55.3343,13.0711,31.3018,78.0194,88.7742,86.3384,88.2652,9.508,85.9337,7.6097,29.4775,27.3612,24.9921,78.7147,83.6738,83.4386,31.4935,83.9774,77.6259,75.3875,89.1641,34.7279,4.3381,79.634,33.6815,73.5202,82.9265,51.6899,5.5312,75.8098,25.4228,1.5749,76.6988,84.6519,55.0614,75.7277,48.3462,80.4509,26.6352,75.647,76.8978,80.1906,28.0177,82.4229,53.4179,32.3767],"persistence":[50.0,75.0,75.0,100.0,100.0,100.0,100.0,87.5,75.0,50.0,25.0,0.0,25.0,50.0,75.0,87.5,87.5,62.5,62.5,37.5,12.5,12.5,25.0,25.0,37.5,37.5,62.5,50.0,37.5,12.5,25.0,50.0,50.0,50.0,37.5,50.0,62.5,75.0,75.0,75.0,50.0,50.0,37.5,12.5,12.5,25.0,50.0,75.0,75.0,75.0,75.0,62.5],"assessmentRisk":[14.4464,35.6665,20.9431,39.2366,13.9377,11.815,31.041,45.3314,20.9304,34.5747,18.9471,21.7482,17.9758,42.6247,20.4592,29.4528,28.8974,21.4425,50.279,32.1208,24.9117,25.2912,48.4104,15.4852,23.9244,30.714,14.8364,52.3133,21.0739,18.6323,59.0475,11.2996,19.6475,37.865,35.1457,13.3517,28.5714,21.1305,1.0108,18.1152,9.7945,15.9183,27.3375,30.0916,41.0848,37.644,35.4169,29.315,25.7615,26.9809,54.1976,43.162],"volumeParticipation":true,"latest":{"consensus":-3.7,"control":-1.3,"force":-9.1,"direction":-5.6,"confirmation":32.4,"persistence":62.5,"assessmentRisk":43.2,"intensity":48.1,"evidenceDepth":100},"analysis":{"status":"Joint downward confirmation","headline":"The gauges support the downward market view","summary":"Price structure and Market Dynamics agree. Control, force and direction support the same downward assessment.","take":"Current assessment: downward pressure has broad support.","tone":"negative","supportedView":"Price structure and Market Dynamics","direction":"downward","disagreement":false},"support":{"window":"Latest 12 months","controlState":"Control support is limited","controlPath":"Control support is easing","forceState":"Commitment is limited","forcePath":"Commitment is easing","directionState":"Follow-through is limited","persistenceState":"Developing","confirmationState":"Limited support","riskState":"Present","intensityState":"Normal"},"cards":[{"label":"SM Consensus Gauge","value":"-3.7","detail":"Joint downward confirmation","tone":"negative"},{"label":"SM Control Gauge","value":"-1.3","detail":"Control support is limited","tone":"negative"},{"label":"SM Force Gauge","value":"-9.1","detail":"Commitment is limited","tone":"negative"},{"label":"SM Direction Gauge","value":"-5.6","detail":"Follow-through is limited","tone":"negative"},{"label":"SM Confirmation Gauge","value":"32/100","detail":"Limited support","tone":"caution"}]},"kpis":[{"label":"Price structure","value":"Aligned downward","detail":"completed-week alignment","tone":"negative"},{"label":"Momentum","value":"49.2","detail":"Negative","tone":"negative"},{"label":"Risk pressure","value":"3.1%","detail":"Contained","tone":"neutral"},{"label":"Trend quality","value":"14.7","detail":"Range-led","tone":"neutral"},{"label":"Range position","value":"36%","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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