{"schema_version":"1.0","name":"EMKT Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"ffb468ee-f09f-48fe-b898-67572d696a86","symbol":"EMKT","name":"LAZARD EMERGING MARKETS OPPORTUNITIES ETF","exchange":"NYSEARCA","country":"US","asset_type":"etf","currency":"USD","sector":null,"industry":null},"summary":"Market Dynamics weakened this week and 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, Activity pressure and cumulative balance, Directional strength and control, Range position and boundary pressure, Range pressure and compression, Acceleration, deceleration and rollover."},{"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":43,"displayedObservations":43,"assetType":"ETF","state":"Aligned upward","stateTone":"positive","summary":"Market Dynamics weakened this week and 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 weakened this week and 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":["2026-05-15","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":[0.478955,0.638035,0.801253,0.741974,0.765525,0.837126,0.824845,0.853873,0.76248,0.488742,0.163826,-0.150931,-0.395222,-0.370465,-0.375631],"opens":[31.22866,30.093435,31.158953,32.314095,30.989665,32.443551,31.37,30.8907,31.8,30.69,29.98,30.1,30.43,31.03,32.0274],"highs":[31.238618,30.461885,32.095016,33.140619,31.766399,33.18,33.24,32.27,32.87,31.06,30.81,30.53,31.57,31.86,32.09],"lows":[29.774775,29.177288,31.158953,30.412094,30.143225,31.965561,31.0,30.5699,30.83,29.335,29.7802,28.88,30.285,30.76,30.955],"closes":[29.874356,30.297875,32.065142,30.491759,31.696692,33.05,31.4127,30.7435,31.6309,29.67,29.7802,30.4191,31.0916,31.6277,31.505],"hoverRows":[[{"label":"Open","value":"31.2","className":"is-ohlc","compact":true},{"label":"High","value":"31.2","className":"is-ohlc","compact":true},{"label":"Low","value":"29.8","className":"is-ohlc","compact":true},{"label":"Close","value":"29.9","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.48","note":"Supportive and strengthening","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"30.1","className":"is-ohlc","compact":true},{"label":"High","value":"30.5","className":"is-ohlc","compact":true},{"label":"Low","value":"29.2","className":"is-ohlc","compact":true},{"label":"Close","value":"30.3","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.64","note":"Supportive and strengthening","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"31.2","className":"is-ohlc","compact":true},{"label":"High","value":"32.1","className":"is-ohlc","compact":true},{"label":"Low","value":"31.2","className":"is-ohlc","compact":true},{"label":"Close","value":"32.1","className":"is-ohlc","compact":true},{"label":"Market 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Dynamics","value":"0.82","note":"Supportive but easing","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"30.9","className":"is-ohlc","compact":true},{"label":"High","value":"32.3","className":"is-ohlc","compact":true},{"label":"Low","value":"30.6","className":"is-ohlc","compact":true},{"label":"Close","value":"30.7","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.85","note":"Supportive and strengthening","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"31.8","className":"is-ohlc","compact":true},{"label":"High","value":"32.9","className":"is-ohlc","compact":true},{"label":"Low","value":"30.8","className":"is-ohlc","compact":true},{"label":"Close","value":"31.6","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.76","note":"Supportive but easing","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"30.7","className":"is-ohlc","compact":true},{"label":"High","value":"31.1","className":"is-ohlc","compact":true},{"label":"Low","value":"29.3","className":"is-ohlc","compact":true},{"label":"Close","value":"29.7","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.49","note":"Supportive but easing","className":"is-positive","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":"30.8","className":"is-ohlc","compact":true},{"label":"Low","value":"29.8","className":"is-ohlc","compact":true},{"label":"Close","value":"29.8","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.16","note":"Supportive but easing","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"30.1","className":"is-ohlc","compact":true},{"label":"High","value":"30.5","className":"is-ohlc","compact":true},{"label":"Low","value":"28.9","className":"is-ohlc","compact":true},{"label":"Close","value":"30.4","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.15","note":"Cautious and weakening","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"30.4","className":"is-ohlc","compact":true},{"label":"High","value":"31.6","className":"is-ohlc","compact":true},{"label":"Low","value":"30.3","className":"is-ohlc","compact":true},{"label":"Close","value":"31.1","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.40","note":"Cautious and weakening","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"31.0","className":"is-ohlc","compact":true},{"label":"High","value":"31.9","className":"is-ohlc","compact":true},{"label":"Low","value":"30.8","className":"is-ohlc","compact":true},{"label":"Close","value":"31.6","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.37","note":"Cautious but repairing","className":"is-negative","wide":true},{"label":"Signal / event","value":"Reversal warning","className":"is-caution","wide":true}],[{"label":"Open","value":"32.0","className":"is-ohlc","compact":true},{"label":"High","value":"32.1","className":"is-ohlc","compact":true},{"label":"Low","value":"31.0","className":"is-ohlc","compact":true},{"label":"Close","value":"31.5","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.38","note":"Cautious and weakening","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}]],"pressureRange":[-2.3,2.3],"priceRange":[29.4672,33.2528],"zones":{"accumulationBoundary":-1.5,"accumulationDarkBoundary":-2.0,"distributionBoundary":1.5,"distributionDarkBoundary":2.0},"latest":-0.375631,"state":"Price is moving ahead of Market Dynamics","context":{"scenario":"priceAhead","latestDirection":"slight easing","fourWeekDirection":"weakening","now":{"label":"Slightly easier this week","detail":"Market Dynamics weakened this week and 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 weakened this week and 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":15,"summary":"More completed weekly history is needed for a dependable ticker-level record."},"events":{"positioning_recoveries":[],"reversal_warnings":[{"date":"2026-05-29","price":32.065142},{"date":"2026-08-14","price":31.6277}],"reversal_dangers":[{"date":"2026-06-05","price":30.491759}]}},"smTape":{"available":true,"dates":["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":[25.1872,24.7011,24.6143,23.9194,24.5885,24.763,24.5775,24.6214,24.975,25.64,25.9309,26.3402,26.5929,26.8271,27.5441,28.0122,28.4902,28.4304,26.2098,25.8612,25.3036,25.0347,25.7816,27.5857,28.9061,29.0312,28.9971,30.9996,29.8744,30.2979,32.0651,30.4918,31.6967,33.05,31.4127,30.7435,31.6309,29.67,29.7802,30.4191,31.0916,31.6277,31.505],"consensus":[-46.3088,-51.8716,17.7952,-40.1538,-17.2522,0.0,-21.3619,0.0,34.2482,64.5038,45.1137,69.2577,64.2459,48.2229,82.5939,67.756,71.0074,29.5296,-54.7257,-42.3668,-57.7075,-53.2062,8.6101,59.2101,69.1444,52.9375,37.4972,80.9728,0.0,48.9716,75.8991,-16.7208,60.6224,65.4607,-9.316,-11.3558,22.0323,-46.5802,-23.877,12.9418,19.1804,42.5636,14.264],"supportDates":["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,0.0,-27.3585,0.0,34.3601,60.3962,31.8588,59.8417,63.8702,31.0567,79.8959,54.8212,66.7551,19.147,-48.5456,-31.1784,-50.5753,-50.6318,16.3136,57.971,73.1964,58.8574,35.0976,83.0422,0.0,51.8627,82.4248,-21.3817,65.3381,71.9627,-7.7283,-11.7709,24.4661,-42.8591,-22.78,21.4613,28.9827,38.5689,7.923],"force":[-46.3088,-51.8716,17.7952,-40.1538,-31.7115,0.0,-17.6773,0.0,42.962,73.352,32.9336,78.1542,50.9152,40.8642,92.9766,72.6572,79.6948,7.0858,-95.9221,-59.9414,-76.894,-54.6506,43.5058,80.136,77.7904,33.9579,11.4504,95.7703,0.0,33.1052,76.5889,-69.1017,56.5989,55.8903,-53.797,-49.7948,15.8006,-68.8336,-17.7153,24.2219,23.7793,57.8265,0.0816],"direction":[null,null,null,null,-52.2263,0.0,-17.1404,0.0,27.8962,62.8781,68.9623,73.6641,74.1972,73.0976,78.2612,79.0378,69.6617,67.5492,-32.3626,-42.6003,-52.154,-55.1165,25.1193,45.6792,58.338,59.7287,58.8446,68.0382,0.0,57.0007,67.9483,-26.021,58.1069,64.866,-20.6416,-16.5751,23.7022,-34.9375,-29.5321,4.852,4.6929,36.227,31.6412],"intensity":[null,null,null,null,50.0,20.0,16.6667,28.5714,50.0,66.6667,100.0,18.1818,16.6667,100.0,78.5714,100.0,31.25,29.4118,100.0,89.4737,45.0,28.5714,72.7273,95.6522,91.6667,72.0,7.6923,96.2963,85.7143,62.069,93.3333,83.871,81.25,90.9091,82.3529,71.4286,61.1111,91.8919,21.0526,64.1026,77.5,29.2683,7.1429],"confirmation":[37.4855,39.2656,28.3611,35.5159,13.4301,24.7902,74.6321,48.3221,79.2233,88.9735,82.2672,90.5771,88.1581,83.4686,94.7876,90.0284,91.0519,55.3367,86.8619,82.2635,87.1598,85.1092,31.7268,87.6039,90.328,84.2714,79.2419,94.3307,36.3017,83.1433,92.2093,35.0938,87.2047,88.5567,8.7645,31.0017,74.8233,83.6406,75.4696,50.7238,51.4619,82.1464,19.3648],"persistence":[null,null,33.3333,50.0,60.0,50.0,57.1429,50.0,25.0,0.0,0.0,25.0,50.0,62.5,87.5,100.0,100.0,100.0,75.0,50.0,25.0,0.0,0.0,0.0,0.0,0.0,25.0,50.0,62.5,87.5,87.5,62.5,62.5,62.5,37.5,12.5,25.0,0.0,25.0,0.0,0.0,0.0,25.0],"assessmentRisk":[null,null,null,null,32.2559,4.083,6.5427,43.2629,19.5719,15.8357,27.2624,15.3433,17.8438,25.6637,8.6844,16.1101,14.4963,35.2349,20.2588,28.5526,21.1268,23.3859,30.0843,18.3649,15.3796,23.5104,31.1407,9.3564,35.7569,16.1352,11.4645,13.2179,16.1368,16.6407,19.7345,15.5487,13.7522,26.1548,30.5169,18.5914,30.5433,25.3325,37.9217],"volumeParticipation":true,"latest":{"consensus":14.3,"control":7.9,"force":0.1,"direction":31.6,"confirmation":19.4,"persistence":25.0,"assessmentRisk":37.9,"intensity":7.1,"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":"Control support is easing","forceState":"Commitment is limited","forcePath":"Commitment is easing","directionState":"Upward follow-through","persistenceState":"Unsettled","confirmationState":"Limited support","riskState":"Contained","intensityState":"Quiet"},"cards":[{"label":"SM Consensus Gauge","value":"+14.3","detail":"Price structure has stronger support","tone":"positive"},{"label":"SM Control Gauge","value":"+7.9","detail":"Control support is limited","tone":"positive"},{"label":"SM Force Gauge","value":"+0.1","detail":"Commitment is limited","tone":"positive"},{"label":"SM Direction Gauge","value":"+31.6","detail":"Upward follow-through","tone":"positive"},{"label":"SM Confirmation Gauge","value":"19/100","detail":"Limited support","tone":"caution"}]},"kpis":[{"label":"Price structure","value":"Aligned upward","detail":"completed-week alignment","tone":"positive"},{"label":"Momentum","value":"57.3","detail":"Positive","tone":"positive"},{"label":"Risk pressure","value":"4.6%","detail":"Elevated","tone":"caution"},{"label":"Trend quality","value":"31.3","detail":"Directional","tone":"positive"},{"label":"Range position","value":"80%","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 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Market Dynamics construction and private inputs are not disclosed. Historical research is not a forecast or instruction to trade."}