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evidence"}],"path":[{"week":0,"sample":0},{"week":1,"averageReturn":0.3,"sample":3},{"week":2,"averageReturn":0.7,"sample":3},{"week":3,"averageReturn":1.3,"sample":3},{"week":4,"averageReturn":0.8,"sample":2},{"week":5,"averageReturn":0.9,"sample":2},{"week":6,"averageReturn":1.9,"sample":2},{"week":7,"averageReturn":1.0,"sample":2},{"week":8,"averageReturn":1.7,"sample":2},{"week":9,"averageReturn":3.8,"sample":2},{"week":10,"averageReturn":3.5,"sample":2},{"week":11,"averageReturn":3.8,"sample":2},{"week":12,"averageReturn":5.6,"sample":2},{"week":13,"averageReturn":5.3,"sample":2},{"week":14,"averageReturn":7.2,"sample":2},{"week":15,"averageReturn":9.5,"sample":2},{"week":16,"averageReturn":7.9,"sample":2},{"week":17,"averageReturn":8.1,"sample":1},{"week":18,"averageReturn":8.7,"sample":1},{"week":19,"averageReturn":8.0,"sample":1},{"week":20,"averageReturn":9.8,"sample":1},{"week":21,"averageReturn":11.3,"sample":1},{"week":22,"averageReturn":9.2,"sample":1},{"week":23,"sample":0},{"week":24,"sample":0},{"week":25,"sample":0},{"week":26,"sample":0}]}},"pricePressureGap":{"label":"Price elevated relative to Market Dynamics","kind":"structuralDivergence","expectedDirection":"lower","episodes":2,"completedEpisodes":1,"activeEpisodes":1,"medianExpectedMove":8.7,"averageExpectedMove":8.7,"averageWeeksToLargestMove":12.0,"horizons":[{"weeks":4,"sample":2,"expectedCount":1,"expectedPercent":50.0,"averageReturn":-1.8,"medianReturn":-1.8,"confidenceLow":9.5,"confidenceHigh":90.5,"confidence":"Mixed historical record"},{"weeks":12,"sample":1,"expectedCount":1,"expectedPercent":100.0,"averageReturn":-8.7,"medianReturn":-8.7,"confidenceLow":20.7,"confidenceHigh":100.0,"confidence":"Mixed historical record"},{"weeks":26,"sample":1,"expectedCount":0,"expectedPercent":0.0,"averageReturn":1.1,"medianReturn":1.1,"confidenceLow":0.0,"confidenceHigh":79.3,"confidence":"Mixed historical record"}],"path":[{"week":0,"sample":0},{"week":1,"averageReturn":-1.2,"sample":2},{"week":2,"averageReturn":-0.3,"sample":2},{"week":3,"averageReturn":-0.3,"sample":2},{"week":4,"averageReturn":-1.8,"sample":2},{"week":5,"averageReturn":-1.3,"sample":2},{"week":6,"averageReturn":-0.7,"sample":2},{"week":7,"averageReturn":0.1,"sample":2},{"week":8,"averageReturn":0.3,"sample":2},{"week":9,"averageReturn":0.9,"sample":2},{"week":10,"averageReturn":-0.6,"sample":2},{"week":11,"averageReturn":-7.9,"sample":1},{"week":12,"averageReturn":-8.7,"sample":1},{"week":13,"averageReturn":-7.5,"sample":1},{"week":14,"averageReturn":-7.2,"sample":1},{"week":15,"averageReturn":-6.7,"sample":1},{"week":16,"averageReturn":-3.9,"sample":1},{"week":17,"averageReturn":-4.0,"sample":1},{"week":18,"averageReturn":-2.0,"sample":1},{"week":19,"averageReturn":0.8,"sample":1},{"week":20,"averageReturn":-0.2,"sample":1},{"week":21,"averageReturn":0.1,"sample":1},{"week":22,"averageReturn":0.5,"sample":1},{"week":23,"averageReturn":-0.0,"sample":1},{"week":24,"averageReturn":1.6,"sample":1},{"week":25,"averageReturn":3.0,"sample":1},{"week":26,"averageReturn":1.1,"sample":1}]},"currentApplication":{"status":"Evidence developing","tone":"neutral","headline":"Market Dynamics is negative while price remains rotational","use":"Treat the pressure as context until price establishes a clear response.","confirm":"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.","invalidate":"Reassess the reading when either price structure or the Market Dynamics state changes materially.","level":"positive","direction":"steady","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":"Little changed this week","detail":"Market Dynamics remains positive and was little changed this week."},"fourWeekContext":{"label":"Broadly steady over four weeks","detail":"The broader path has not changed enough to establish a new direction."},"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."},{"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 1 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."}]},"summary":"This record compares the ticker's completed price path with its published Market Dynamics history."},"events":{"positioning_recoveries":[],"reversal_warnings":[{"date":"2026-02-20","price":16.955904},{"date":"2026-06-12","price":16.290686}],"reversal_dangers":[{"date":"2026-02-27","price":16.558348},{"date":"2026-06-19","price":16.283337}]}},"smTape":{"available":true,"dates":["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":[16.9559,16.5583,16.5035,16.0217,15.6888,15.8275,15.9182,16.3147,16.076,16.0452,15.8756,15.6133,15.489,15.6889,15.7326,15.816,16.2907,16.2833,16.6131,17.0977,16.9269,16.9646,17.048,16.95,17.222,17.462,17.138],"consensus":[-96.6559,-83.0355,-85.9461,10.3569,-25.3787,0.0,-9.7484,14.4401,9.2593,9.2694,-17.8415,-22.7297,0.0,0.0,-11.8235,11.8728,14.6159,8.4995,18.9895,40.4872,26.1193,17.8369,30.8838,0.0,27.7372,37.2699,14.8516],"supportDates":["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,0.0,-10.5108,18.1475,16.3718,17.6092,-28.649,-28.141,0.0,0.0,-18.0974,20.5447,12.8181,5.5056,16.7196,48.6697,32.8118,14.7258,37.6691,0.0,25.2635,37.7225,19.155],"force":[-96.6559,-83.0355,-85.9461,10.3569,-18.8849,0.0,-4.5248,26.2784,11.7084,12.1305,-14.7172,-18.1432,0.0,0.0,-6.8768,14.8969,14.1194,3.9568,13.2868,30.5262,12.5303,6.5991,24.8283,0.0,32.6306,39.0803,52.418],"direction":[null,null,null,null,-30.0171,0.0,-12.6082,1.7471,0.6186,2.3054,-7.7218,-19.8215,0.0,0.0,-8.1866,0.198,17.0252,15.1659,25.657,38.2508,28.1771,29.4196,27.4546,0.0,27.069,35.4595,16.8998],"intensity":[null,null,null,null,50.0,40.0,33.3333,71.4286,50.0,22.2222,20.0,54.5455,75.0,30.7692,35.7143,6.6667,87.5,5.8824,66.6667,84.2105,80.0,47.619,9.0909,86.9565,45.8333,60.0,61.5385],"confirmation":[53.5966,49.238,50.1694,25.9809,53.1576,27.2216,48.282,50.2585,48.3945,48.7515,50.7827,75.0513,24.9767,27.7161,48.8705,49.1349,72.6894,25.2937,73.9374,80.5276,75.8421,50.7461,77.5949,27.5717,77.0627,79.9746,32.1038],"persistence":[null,null,100.0,50.0,60.0,50.0,57.1429,37.5,12.5,12.5,12.5,12.5,0.0,0.0,0.0,0.0,0.0,0.0,25.0,50.0,62.5,75.0,100.0,87.5,87.5,87.5,62.5],"assessmentRisk":[null,null,null,null,37.3107,51.7582,44.3361,30.3566,39.1843,28.7721,0.6911,38.2815,45.539,48.3855,21.6424,29.0586,42.5743,45.352,40.462,29.7523,36.3722,40.7988,32.3114,25.9023,30.6944,30.7515,25.9016],"volumeParticipation":true,"latest":{"consensus":14.9,"control":19.2,"force":52.4,"direction":16.9,"confirmation":32.1,"persistence":62.5,"assessmentRisk":25.9,"intensity":61.5,"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 easing","forceState":"Upward commitment","forcePath":"Commitment is strengthening","directionState":"Upward follow-through","persistenceState":"Developing","confirmationState":"Limited support","riskState":"Contained","intensityState":"Normal"},"cards":[{"label":"SM Consensus Gauge","value":"+14.9","detail":"Price structure has the available support","tone":"positive"},{"label":"SM Control Gauge","value":"+19.2","detail":"Buyer control supports the view","tone":"positive"},{"label":"SM Force Gauge","value":"+52.4","detail":"Upward commitment","tone":"positive"},{"label":"SM Direction Gauge","value":"+16.9","detail":"Upward follow-through","tone":"positive"},{"label":"SM Confirmation Gauge","value":"32/100","detail":"Limited support","tone":"caution"}]},"kpis":[{"label":"Price structure","value":"Aligned upward","detail":"completed-week alignment","tone":"positive"},{"label":"Momentum","value":"45.7","detail":"Negative","tone":"negative"},{"label":"Risk pressure","value":"5.3%","detail":"Contained","tone":"neutral"},{"label":"Trend quality","value":"30.9","detail":"Directional","tone":"positive"},{"label":"Range position","value":"81%","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":[16.9559,16.5583,16.5035,16.0217,15.6888,15.8275,15.9182,16.3147,16.076,16.0452,15.8756,15.6133,15.489,15.6889,15.7326,15.816,16.2907,16.2833,16.6131,17.0977,16.9269,16.9646,17.048,16.95,17.222,17.462,17.138],"stroke":"#10243b","width":2.1},{"label":"Fast trend","values":[null,null,null,null,16.4919,16.3711,16.2887,16.2935,16.2539,16.216,16.1541,16.0557,15.9527,15.9047,15.8735,15.863,15.9408,16.0031,16.114,16.2928,16.4081,16.5093,16.6072,16.6696,16.77,16.8958,16.9399],"stroke":"#176fa3","width":1.7},{"label":"Slow trend","values":[null,null,null,null,null,null,null,null,null,null,null,null,16.3421,16.2937,16.2521,16.2198,16.2251,16.2294,16.2578,16.32,16.365,16.4094,16.4567,16.4932,16.5472,16.615,16.6537],"stroke":"#07865c","width":1.8},{"label":"Upper envelope","values":[null,null,null,null,null,null,null,null,null,16.9272,16.8873,16.8741,16.8693,16.8374,16.8051,16.7738,16.7794,16.782,16.8366,16.9926,16.9857,17.0634,17.1613,17.2615,17.3962,17.5672,17.6537],"stroke":"#98a9b8","width":1.0,"dash":[6,5]},{"label":"Lower envelope","values":[null,null,null,null,null,null,null,null,null,15.4548,15.4373,15.359,15.2673,15.245,15.2362,15.2419,15.2695,15.2957,15.3016,15.2484,15.2524,15.2153,15.1719,15.1645,15.1831,15.1756,15.2111],"stroke":"#98a9b8","width":1.0,"dash":[6,5]}],"guides":[],"dates":["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,12.1917,7.9168,7.3647,4.3269,0.5251,1.9909,5.4116,6.1592,7.5863,15.7075,15.5818,21.2239,29.5153,26.5929,27.2386,28.6653,26.9885,31.6425,35.7489,80.5598],"stroke":"#10243b","width":2.0},{"label":"From high","values":[null,null,null,null,null,null,null,-23.1062,-24.2311,-24.3764,-25.1758,-26.412,-26.9976,-26.0553,-25.8494,-25.4562,-23.2192,-23.2538,-21.6996,-19.4157,-20.2207,-20.0428,-19.6498,-20.1117,-18.8297,-17.6986,-2.4254],"stroke":"#c13f3f","width":1.5},{"label":"From low","values":[null,null,null,null,null,null,null,4.3539,2.8272,2.63,1.5452,0.1898,0.7569,2.0574,2.3416,2.8842,5.9718,5.924,8.069,11.2213,10.1102,10.3557,10.8981,10.2606,12.03,13.5912,11.4836],"stroke":"#07865c","width":1.5}],"guides":[{"label":"Range centre","values":[50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0],"stroke":"#8fa0af","width":1.0,"dash":[6,5]}],"dates":["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":"volatility","eyebrow":"Risk geometry","title":"Range pressure and compression","description":"Movement pressure and envelope width show whether risk is expanding, settling or compressed.","reason":"Selected because current variability is unusually compressed or expanded versus this ticker's own tape.","series":[{"label":"Range pressure","values":[null,null,null,null,null,null,null,null,null,null,null,null,null,11.8147,11.0332,10.2288,9.4295,8.7631,8.1175,7.5265,7.232,6.7164,6.2623,6.1074,5.7632,5.3917,5.2529],"stroke":"#c13f3f","width":1.9},{"label":"Envelope width","values":[null,null,null,null,null,null,null,null,null,9.0937,8.9711,9.401,9.9699,9.927,9.7931,9.57,9.4223,9.2673,9.5523,10.8201,10.753,11.4505,12.3058,12.9343,13.5864,14.6086,14.8644],"stroke":"#b87806","width":1.7}],"guides":[],"dates":["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":"directional","eyebrow":"Trend 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 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