{"schema_version":"1.0","name":"WDEF Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"0627aee0-94bc-4bfd-bbb9-c88004f1fc5d","symbol":"WDEF","name":"WISDOMTREE EUROPE DEFENSE FUND","exchange":"NYSEARCA","country":"US","asset_type":"etf","currency":"USD","sector":null,"industry":null},"summary":"Market Dynamics strengthened this week and remains positive. Underlying support has strengthened across the recent completed path. Price has not yet responded to the same extent.","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, Activity pressure and cumulative balance, Range position and boundary pressure, Drawdown and recovery pressure, 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":58,"displayedObservations":58,"assetType":"ETF","state":"Aligned upward","stateTone":"positive","summary":"Market Dynamics strengthened this week and remains positive. 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strength ahead of price","tone":"positive","headline":"Underlying strength is leading price","use":"A positive price response is needed before the early upside case is confirmed.","confirm":"Treat the gap as an early-upside opportunity watch. A continued positive price response would confirm that price is catching up with the stronger foundation.","invalidate":"Reassess the reading when either price structure or the Market Dynamics state changes materially.","level":"positive","direction":"strengthening","zone":"middle","zoneContext":"Market Dynamics has strengthened across the recent completed path and remains strongly positive, while price has not advanced as far through its range. The gap is an early-upside watch; a positive price response is needed for confirmation.","historical":{"label":"Broad directional cases","weeks":12,"direction":"higher","percent":0.0,"averageReturn":-11.1,"sample":1},"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 is lagging the underlying strength","detail":"Market Dynamics has advanced further through its recent range than price. This is positive divergence and an early-upside watch, but price confirmation is still required."}},"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":"Early repair watch","title":"Prepare the case before price confirms the recovery","tone":"recovery","approach":"Use the improvement to move the ticker onto a watchlist or define an entry trigger. Commitment should rise only after price responds; fading Market Dynamics cancels the early case.","finding":"In this ticker's completed record, 0.0% of comparable cases moved higher after 12 weeks, with an average move of -11.1% across 1 cases.","watch":"Reassess the reading when either price structure or the Market Dynamics state changes materially."},{"eyebrow":"Zone positioning","title":"Use distribution to protect capital before considering the short case","tone":"negative","finding":"After distribution, 100.0% of completed 12-week outcomes were lower across 1 cases. Distinct visits lasted 1.0 weeks on average before leaving the zone.","approach":"Review long exposure and define the evidence that would confirm a rollover. Short exposure should begin only after price weakens and the loss limit is known.","watch":"A sustained repair in price and Market Dynamics invalidates the downside setup."},{"eyebrow":"Disagreement playbook","title":"Use improving Market Dynamics to prepare, not anticipate","tone":"recovery","finding":"Comparable disagreements produced an average recovery of 0.2% across 1 completed cases, with the largest move arriving after 5.0 weeks on average.","approach":"Define the price level that would confirm the repair. Until that response occurs, keep the idea at watchlist or starter-position size.","watch":"The early repair fails if Market Dynamics fades before price responds."}]},"summary":"This record compares the ticker's completed price path with its published Market Dynamics history."},"events":{"positioning_recoveries":[],"reversal_warnings":[{"date":"2026-03-13","price":32.69},{"date":"2026-08-14","price":33.38}],"reversal_dangers":[{"date":"2026-03-20","price":31.09},{"date":"2026-08-21","price":31.78}]}},"smTape":{"available":true,"dates":["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":[30.4782,29.6677,28.7645,28.3898,28.8544,28.8993,29.2225,29.3384,31.6162,31.4343,32.7965,34.0604,31.9193,30.0285,31.3326,30.5328,30.2266,29.7987,27.6352,27.4836,28.056,28.8843,29.0392,29.341,29.85,33.955,34.26,34.18,33.3,32.15,32.86,34.57,33.53,32.65,32.69,31.09,28.77,32.27,31.76,32.75,29.92,30.2299,29.4457,27.45,29.88,31.21,29.06,28.971,28.39,26.36,29.5,27.92,27.92,28.8844,30.38,32.19,33.38,31.78],"consensus":[52.3809,-78.6125,11.9781,-51.854,-41.9233,-22.9132,0.0,8.5052,73.2452,19.6692,81.3214,78.6765,-18.8248,-60.0168,21.0111,-39.8631,-25.5316,-28.1972,-73.5281,-28.6572,-14.157,0.0,8.6062,16.8701,31.3791,80.061,47.6526,41.8543,0.0,-21.5507,21.1381,63.2635,-10.1366,-16.0738,0.0,-51.1415,-67.984,37.3364,-18.6384,28.2072,-42.2015,-11.8039,-48.9294,-65.7785,21.7244,32.1518,-45.1378,-13.1131,-38.9933,-67.8833,30.863,-46.7164,-9.8861,20.5781,44.8007,62.1007,62.985,0.7723],"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":[0.0,0.112,67.5943,4.8454,78.5146,73.1344,-25.3168,-51.3601,29.6954,-31.7525,-18.8879,-32.2872,-69.9078,-15.5503,-0.8182,0.0,5.24,14.871,28.7013,83.6648,42.4201,41.2858,0.0,-11.1161,25.479,68.0933,-10.9199,-16.1932,0.0,-47.7635,-69.2698,41.4075,-16.7842,26.7145,-53.9756,-1.4162,-42.4032,-69.318,30.1598,31.8909,-50.3944,-24.0577,-43.5444,-71.2981,38.6808,-45.3315,-5.5543,17.568,51.4758,57.4626,69.5498,15.7667],"force":[0.0,18.2484,83.2738,22.8552,92.4836,85.2666,-81.2518,-88.6039,50.8851,-52.7977,-23.7604,-22.6743,-95.5825,-2.5314,-20.6535,0.0,25.0894,27.3158,45.6679,98.688,31.3789,11.0156,0.0,-70.4956,26.9658,82.3458,-65.3646,-58.7661,0.0,-71.8325,-79.511,81.5938,-30.3978,33.9614,-58.3971,-9.0242,-63.8846,-67.7343,61.4693,56.1719,-61.563,-0.0484,-29.338,-74.154,59.1735,-69.5171,-4.7987,36.1149,58.4694,81.2101,55.971,41.6022],"direction":[0.0,11.138,72.5399,66.9852,76.5561,80.3032,-33.1854,-49.4907,10.2523,-39.8932,-34.3894,-27.4678,-61.9123,-62.2977,-54.2661,0.0,0.6795,11.6936,24.2332,62.6374,65.2568,64.5317,0.0,-1.4845,12.0145,44.1136,-30.2071,-14.5571,0.0,-40.2226,-58.2811,1.0714,-12.3581,25.8031,-17.177,-38.5527,-45.7057,-60.3364,16.3053,15.293,-27.3981,-9.937,-40.6889,-59.5017,1.7066,-32.0128,-25.3258,12.9205,27.4087,53.7518,60.4924,45.5283],"intensity":[66.6667,28.5714,100.0,88.8889,70.0,81.8182,91.6667,84.6154,50.0,40.0,50.0,11.7647,94.4444,100.0,35.0,71.4286,27.2727,52.1739,20.8333,100.0,88.4615,22.2222,46.4286,79.3103,43.3333,74.1935,50.0,75.7576,38.2353,65.7143,94.4444,97.2973,86.8421,43.5897,95.0,82.9268,47.619,93.0233,88.6364,88.8889,71.7391,14.8936,10.4167,69.3878,96.0,52.9412,84.6154,42.3077,53.8462,80.7692,44.2308,50.0],"confirmation":[25.9043,48.4798,91.8302,10.0998,94.4058,93.4618,37.5738,88.2085,32.3555,81.274,76.2174,76.7925,92.2563,53.9071,8.0787,6.1675,25.9743,73.7473,78.5176,94.1323,82.8326,80.4622,12.5602,54.1969,74.8757,88.7523,34.0258,32.2151,24.7902,85.0473,90.0866,58.5678,74.3509,77.2244,81.8186,5.2259,84.2126,89.0548,34.1797,79.0246,82.8646,48.9646,80.1143,89.8617,55.9532,83.6652,26.4724,75.1044,82.6511,88.5253,87.8414,41.6424],"persistence":[28.5714,12.5,12.5,12.5,12.5,37.5,37.5,37.5,50.0,25.0,0.0,25.0,50.0,75.0,75.0,62.5,62.5,37.5,12.5,12.5,37.5,62.5,75.0,62.5,62.5,62.5,37.5,12.5,0.0,25.0,37.5,12.5,37.5,37.5,37.5,37.5,50.0,50.0,25.0,25.0,25.0,50.0,50.0,50.0,25.0,25.0,50.0,50.0,25.0,0.0,25.0,37.5],"assessment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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":"Buyer control supports the view","controlPath":"Broadly stable","forceState":"Upward commitment","forcePath":"Broadly stable","directionState":"Upward follow-through","persistenceState":"Unsettled","confirmationState":"Qualified support","riskState":"Present","intensityState":"Normal"},"cards":[{"label":"SM Consensus Gauge","value":"+0.8","detail":"Joint upward confirmation","tone":"positive"},{"label":"SM Control Gauge","value":"+15.8","detail":"Buyer control supports the view","tone":"positive"},{"label":"SM Force Gauge","value":"+41.6","detail":"Upward commitment","tone":"positive"},{"label":"SM Direction Gauge","value":"+45.5","detail":"Upward 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impulse","title":"Acceleration, deceleration and rollover","description":"The impulse path separates directional acceleration from a loss of momentum.","reason":"Selected because the latest 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,0.4867,0.3595,0.3597,0.292,0.2112,0.1114,-0.1407,-0.3487,-0.462,-0.4795,-0.4753,-0.4426,-0.3713,0.0163,0.3441,0.5906,0.7068,0.6981,0.7399,0.9006,0.9334,0.8782,0.8281,0.6518,0.3212,0.3377,0.3061,0.3568,0.1667,0.0406,-0.1212,-0.4058,-0.4303,-0.3385,-0.4342,-0.5114,-0.6123,-0.8464,-0.7697,-0.8268,-0.8621,-0.8031,-0.6283,-0.3399,-0.0151,0.1119],"stroke":"#1678a7","width":2.0},{"label":"Signal","values":[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,0.3712,0.3192,0.2272,0.112,-0.0028,-0.0981,-0.1736,-0.2274,-0.2561,-0.2016,-0.0925,0.0441,0.1767,0.2809,0.3727,0.4783,0.5693,0.6311,0.6705,0.6667,0.5976,0.5456,0.4977,0.4695,0.409,0.3353,0.244,0.114,0.0052,-0.0636,-0.1377,-0.2124,-0.2924,-0.4032,-0.4765,-0.5466,-0.6097,-0.6484,-0.6444,-0.5835,-0.4698,-0.3535],"stroke":"#b87806","width":1.7},{"label":"Expansion","values":[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,-0.16,-0.2078,-0.3679,-0.4607,-0.4592,-0.3813,-0.3018,-0.2152,-0.1151,0.2179,0.4366,0.5465,0.5301,0.4171,0.3672,0.4223,0.364,0.2471,0.1576,-0.015,-0.2765,-0.208,-0.1917,-0.1127,-0.2423,-0.2947,-0.3652,-0.5198,-0.4355,-0.2749,-0.2965,-0.2989,-0.3199,-0.4432,-0.2932,-0.2802,-0.2525,-0.1547,0.016,0.2436,0.4547,0.4654],"stroke":"#07865c","width":1.0,"fill":"rgba(7,134,92,.12)"}],"guides":[{"label":"Neutral","values":[0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0],"stroke":"#8fa0af","width":1.0,"dash":[6,5]}],"dates":["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"]},{"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,104.1384,82.8437,357.5573,146.2382,174.3793,173.1499,99.4342,120.3234,73.1959,56.2559,45.1388,107.148,54.6578,53.0591,60.6007,98.1645,35.6159,88.0212,308.8234,278.9378,325.059,226.9023,185.2275,120.8285,148.8505,127.5083,194.9834,238.6821,84.4801,79.5793,126.166,91.5335,60.437,70.0812,70.6905,230.8173,75.4066,63.4209,115.4316,79.9045,33.1794,30.9028,83.6525,40.7326,119.5805,47.3081,38.2684,90.917,150.5395,70.9227,71.0712],"stroke":"#1678a7","width":1.8},{"label":"Cumulative balance","values":[null,null,null,null,null,null,null,111.2316,120.2775,65.5827,89.0369,119.0328,87.315,69.1084,91.4643,78.1034,68.1079,65.0,65.0,65.0,69.6638,74.9805,83.588,86.6983,94.5932,126.1319,135.0,108.979,88.8544,72.501,83.3814,97.1061,85.2264,65.7151,91.8852,82.3988,73.2225,88.5862,77.1839,84.8569,75.7387,85.1554,65.0,65.0,70.6939,81.0158,74.0364,71.3437,68.9793,65.0,67.8006,65.0,65.0,67.0995,71.7388,79.6827,83.4042,79.8037],"stroke":"#07865c","width":1.7}],"guides":[{"label":"Typical 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risk","title":"Drawdown and recovery pressure","description":"Capital impairment and recovery are shown together so return is not separated from path difficulty.","reason":"Selected because the current recovery or drawdown path is central to the 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