{"schema_version":"1.0","name":"QJUN Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"1be4e239-b0e7-48b9-9b91-cc65e629e726","symbol":"QJUN","name":"First Trust Vest Nasdaq-100 Moderate Buffer UCITS ETF - June Class A ACC","exchange":"GER","country":"DE","asset_type":"etf","currency":"EUR","sector":null,"industry":null},"summary":"Market Dynamics weakened this week and remains below zero. Underlying support has contracted across the recent completed path. Price structure remains rotational.","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, Strength versus the research benchmark, Acceleration, deceleration and rollover, Directional strength and control, Range pressure and compression."},{"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":61,"displayedObservations":61,"assetType":"ETF","state":"Rotational","stateTone":"caution","summary":"Market Dynamics weakened this week and remains below zero. Underlying support has contracted across the recent completed path. Price structure remains rotational.","evidenceAlignment":{"status":"Underlying support lags price","headline":"Market Dynamics is weaker than the current price position","summary":"Market Dynamics weakened this week and remains below zero. Underlying support has contracted across the recent completed path. Price structure remains rotational.","take":"This is a downside risk watch, not a completed reversal. Stronger Market Dynamics or weaker price is needed to close the gap.","tone":"caution","conflict":true},"marketDynamics":{"available":true,"readAvailable":true,"dates":["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":[0.050078,0.182203,0.228762,0.123388,-0.13223,-0.407343,-0.550769,-0.553113,-0.375131,-0.180454,-0.134398,-0.134501,-0.171791,-0.142689,-0.010561,0.3527,0.587682,0.767604,1.007214,1.090869,1.128425,1.154471,1.128867,1.161929,1.122447,1.076166,1.069575,0.63326,0.305785,-0.049385,-0.327023,-0.214461,-0.221316],"opens":[18.504,18.566,18.652,18.368,18.275999,18.274,18.208,18.274,18.35,18.488001,18.860001,18.422001,18.318001,18.624001,18.761999,18.912001,19.040001,19.158001,19.108,19.34,19.372,19.448,19.544001,19.757999,19.438,19.476,19.52,19.152,19.202,19.261999,19.073999,19.493999,19.624001],"highs":[18.718,18.75,18.666,18.368,18.518,18.334,18.422001,18.441999,18.733999,18.858,18.878,18.620001,18.636,18.834,18.875999,19.108,19.152,19.188,19.337999,19.459999,19.427999,19.584,19.563999,19.785999,19.49,19.516001,19.624001,19.25,19.441999,19.32,19.666,19.702,19.792],"lows":[18.469999,18.566,18.386,18.122,18.174,18.167999,18.195999,18.261999,18.35,18.488001,18.554001,18.336,18.318001,18.566,18.700001,18.879999,18.99,19.034,19.086,19.304001,19.316,19.42,19.518,19.724001,19.32,19.476,19.52,19.1,19.184,18.76,19.032,19.448,19.153999],"closes":[18.718,18.73,18.548,18.316,18.309999,18.181999,18.408001,18.304001,18.733999,18.841999,18.554001,18.336,18.636,18.747999,18.870001,19.09,19.07,19.112,19.337999,19.431999,19.316,19.572001,19.525999,19.761999,19.441999,19.516001,19.596001,19.18,19.202,18.988001,19.455999,19.511999,19.18],"hoverRows":[[{"label":"Open","value":"18.5","className":"is-ohlc","compact":true},{"label":"High","value":"18.7","className":"is-ohlc","compact":true},{"label":"Low","value":"18.5","className":"is-ohlc","compact":true},{"label":"Close","value":"18.7","className":"is-ohlc","compact":true},{"label":"Market 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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. 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support lags price","tone":"caution","headline":"Price is leading its underlying support","use":"Market Dynamics must catch up or price may correct toward the weaker underlying position.","confirm":"This is a downside risk watch, not a completed reversal. Stronger Market Dynamics or weaker price is needed to close the gap.","invalidate":"Reassess the reading when either price structure or the Market Dynamics state changes materially.","level":"negative","direction":"weakening","zone":"middle","zoneContext":"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.","historical":{"label":"Broad directional cases","weeks":12,"direction":"lower","percent":0.0,"averageReturn":3.5,"sample":2},"nowContext":{"label":"Slightly easier this week","detail":"Market Dynamics weakened this week and remains below zero."},"fourWeekContext":{"label":"Weakened over four weeks","detail":"Underlying support has contracted across the recent completed path."},"priceContext":{"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."}},"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 3.5% across 2 cases.","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."},{"eyebrow":"Disagreement playbook","title":"Use unsupported price strength to tighten discipline","tone":"caution","finding":"Comparable disagreements produced an average pullback of 1.6% across 2 completed cases, with the largest move arriving after 2.5 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":"2026-01-09","price":18.718},{"date":"2026-03-06","price":18.733999}],"reversal_dangers":[{"date":"2026-03-13","price":18.841999}]}},"smTape":{"available":true,"dates":["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":[17.394,17.3,17.45,17.636,17.606,17.752,17.81,17.844,17.776,17.818,17.768,17.948,18.02,17.996,18.104,18.112,18.032,18.31,18.556,18.236,18.296,18.322,18.46,18.472,18.302,18.388,18.37,18.41,18.718,18.73,18.548,18.316,18.31,18.182,18.408,18.304,18.734,18.842,18.554,18.336,18.636,18.748,18.87,19.09,19.07,19.112,19.338,19.432,19.316,19.572,19.526,19.762,19.442,19.516,19.596,19.18,19.202,18.988,19.456,19.512,19.18],"consensus":[-94.529,-26.3163,28.7671,33.8341,0.0,0.0,0.0,0.0,-8.835,0.0,-10.1334,19.6774,18.506,0.0,25.1657,0.0,0.0,20.6704,34.3184,-16.3635,8.4565,0.0,18.7617,14.17,-12.7308,19.9718,0.0,0.0,42.2699,30.6325,0.0,-9.374,-12.6465,-34.1464,25.8571,-14.2497,57.1262,43.0551,-16.167,-27.7273,38.2689,25.4188,40.2463,55.0077,28.2865,31.6624,61.7824,48.2483,8.5198,59.3344,18.6905,58.9189,0.0,32.5795,37.2029,-39.4192,-18.7969,-52.0658,36.2191,21.5952,-42.1569],"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,-18.8036,24.2487,23.5981,0.0,30.3316,0.0,0.0,21.5265,43.6074,-21.8497,5.7378,0.0,28.4618,14.2936,-21.7033,28.1295,0.0,0.0,51.5122,36.176,0.0,-7.6711,-7.1667,-34.5234,30.8391,-17.1024,56.3036,46.9375,-28.8962,-35.177,43.8796,30.3164,47.2751,59.6214,24.5649,26.3385,68.3432,53.6356,4.3458,68.7458,11.2082,53.0565,0.0,49.9104,43.0477,-31.193,-16.7043,-38.9004,40.839,13.2915,-40.1335],"force":[0.0,-14.3982,24.7233,14.5963,0.0,24.5708,0.0,0.0,20.0744,26.3365,-45.737,2.8791,0.0,14.2289,6.6865,-22.0512,21.6969,0.0,0.0,39.2697,20.1393,0.0,-9.9528,-9.3233,-36.3301,62.2454,-18.412,88.2615,37.2303,-34.9974,-39.9985,74.2497,35.4736,33.3798,52.7817,8.1189,19.6567,60.785,30.4923,23.9635,45.811,11.7168,68.4753,0.0,19.4254,32.3902,-57.8948,-8.9334,-77.5033,72.8023,21.3223,-81.6884],"direction":[0.0,-2.8218,10.8488,15.4792,0.0,19.6867,0.0,0.0,20.1177,29.4036,-10.8874,15.5475,0.0,10.9137,19.3741,-4.181,9.4165,0.0,0.0,33.8501,31.7923,0.0,-10.9068,-21.2829,-32.1558,5.8281,-8.0165,35.8269,42.7787,-11.8308,-10.4482,6.1562,12.6396,37.1181,51.3248,46.9453,46.3225,54.9968,54.7742,46.4258,58.238,48.9613,58.7926,0.0,22.1685,33.9607,-35.6238,-28.2338,-48.9424,4.8085,31.2801,-16.2324],"intensity":[22.2222,20.0,63.6364,41.6667,53.8462,57.1429,86.6667,68.75,88.2353,77.7778,84.2105,50.0,4.7619,59.0909,17.3913,54.1667,44.0,42.3077,11.1111,85.7143,37.931,63.3333,83.871,46.875,63.6364,73.5294,34.2857,94.4444,37.8378,81.5789,79.4872,85.0,73.1707,33.3333,67.4419,31.8182,4.4444,65.2174,61.7021,33.3333,79.5918,26.0,72.549,94.2308,46.1538,30.7692,96.1538,57.6923,98.0769,100.0,92.3077,88.4615],"confirmation":[1.8068,49.1758,74.3809,73.7252,24.7578,75.9562,26.4263,25.2821,74.5833,78.5971,31.0372,25.2442,47.7568,73.7178,49.6378,50.4464,74.3192,1.0337,1.1045,81.2941,77.3981,3.306,48.3766,49.3624,78.9877,55.884,72.6433,87.2418,81.541,30.7439,77.1332,58.5905,76.3658,80.5625,85.4643,76.4938,77.8472,87.64,82.8162,7.9717,86.4314,30.3345,87.2346,9.426,77.7605,79.6692,81.3026,73.7463,85.6369,57.968,75.0287,82.7258],"persistence":[12.5,12.5,12.5,0.0,0.0,12.5,12.5,25.0,37.5,62.5,37.5,37.5,37.5,37.5,50.0,37.5,37.5,25.0,37.5,37.5,50.0,37.5,12.5,12.5,12.5,0.0,12.5,12.5,12.5,25.0,25.0,0.0,25.0,25.0,50.0,50.0,50.0,75.0,100.0,100.0,100.0,100.0,100.0,87.5,87.5,87.5,62.5,37.5,12.5,12.5,12.5,0.0],"assessmentRisk":[30.9816,15.9794,29.4285,40.1876,44.3003,37.382,48.9415,9.3289,39.4771,32.8135,42.11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Dynamics has stronger support","headline":"The gauges support the downward view","summary":"The completed evidence gives the downward view the clearer support.","take":"Current assessment: downward pressure has the stronger support.","tone":"negative","supportedView":"Market Dynamics","direction":"downward","disagreement":false},"support":{"window":"Latest 12 months","controlState":"Seller control supports the view","controlPath":"Control support is strengthening","forceState":"Downward commitment","forcePath":"Commitment is strengthening","directionState":"Downward follow-through","persistenceState":"Unsettled","confirmationState":"Strong support","riskState":"Contained","intensityState":"Elevated"},"cards":[{"label":"SM Consensus Gauge","value":"-42.2","detail":"Market Dynamics has stronger support","tone":"negative"},{"label":"SM Control Gauge","value":"-40.1","detail":"Seller control supports the view","tone":"negative"},{"label":"SM Force Gauge","value":"-81.7","detail":"Downward 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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,156.9473,192.8785,304.7319,66.6766,200.2169,50.8077,284.2058,170.6668,273.9336,330.5589,63.9378,0.0375,149.852,27.8879,391.7134,29.6857,95.9527,8.1255,94.5039,13.4901,42.1373,0.698,3.7958,44.7999,0.7145,56.5726,57.3175,200.4239,52.9218,220.3411,6.2079,7.8054,56.9334,258.9509,617.5518,23.9655,44.2161,11.6833,167.0533,48.8488,23.9467,35.5405,3.4676,53.0339,162.0543,102.7991,0.0,70.917,48.7914,136.2664,168.6203,392.8521,264.0309,291.223],"stroke":"#1678a7","width":1.8},{"label":"Cumulative 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leadership","title":"Strength versus the research benchmark","description":"Relative performance is separated from absolute price direction to reveal leadership and lagging pressure.","reason":"Selected because benchmark-relative leadership is strengthening, fading or diverging from price.","series":[{"label":"Relative 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direction.","series":[{"label":"Impulse","values":[null,null,null,null,null,null,null,null,null,null,null,null,0.1382,0.1468,0.1605,0.17,0.1691,0.1887,0.2215,0.2192,0.2196,0.2195,0.228,0.233,0.2207,0.2153,0.2073,0.2018,0.2198,0.2323,0.225,0.1982,0.1744,0.1436,0.1359,0.12,0.1404,0.1635,0.1567,0.1322,0.1355,0.1454,0.1612,0.1894,0.2077,0.223,0.2505,0.2766,0.2847,0.3083,0.3195,0.3435,0.3329,0.3267,0.3244,0.2858,0.2541,0.2092,0.209,0.2109,0.1836],"stroke":"#1678a7","width":2.0},{"label":"Signal","values":[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,0.1532,0.1603,0.1726,0.1819,0.1894,0.1955,0.202,0.2082,0.2107,0.2116,0.2107,0.209,0.2111,0.2154,0.2173,0.2135,0.2057,0.1933,0.1818,0.1694,0.1636,0.1636,0.1622,0.1562,0.1521,0.1507,0.1528,0.1601,0.1696,0.1803,0.1943,0.2108,0.2256,0.2421,0.2576,0.2748,0.2864,0.2945,0.3004,0.2975,0.2888,0.2729,0.2601,0.2503,0.2369],"stroke":"#b87806","width":1.7},{"label":"Expansion","values":[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,0.0159,0.0284,0.049,0.0373,0.0302,0.0241,0.026,0.0248,0.01,0.0037,-0.0034,-0.0071,0.0087,0.017,0.0077,-0.0153,-0.0312,-0.0496,-0.0459,-0.0495,-0.0232,-0.0001,-0.0055,-0.024,-0.0166,-0.0053,0.0084,0.0292,0.038,0.0427,0.0561,0.0658,0.0592,0.0661,0.0619,0.0687,0.0465,0.0322,0.024,-0.0117,-0.0348,-0.0637,-0.0511,-0.0393,-0.0534],"stroke":"#07865c","width":1.0,"fill":"rgba(7,134,92,.12)"}],"guides":[{"label":"Neutral","values":[0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0],"stroke":"#8fa0af","width":1.0,"dash":[6,5]}],"dates":["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"]},{"key":"directional","eyebrow":"Trend 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