{"schema_version":"1.0","name":"XML4 Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"28639a8c-2f48-444b-a1b2-36d27f91e93f","symbol":"XML4","name":"L&G UK Equity UCITS ETF","exchange":"GER","country":"DE","asset_type":"etf","currency":"EUR","sector":null,"industry":null},"summary":"Market Dynamics strengthened this week and remains positive. Underlying support has strengthened across the recent completed path. The completed evidence supports the upward price structure.","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, Range pressure and compression, Directional strength and control, Range position and boundary pressure, 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":47,"displayedObservations":47,"assetType":"ETF","state":"Aligned upward","stateTone":"positive","summary":"Market Dynamics strengthened this week and remains positive. Underlying support has strengthened across the recent completed path. The completed evidence supports the upward price structure.","evidenceAlignment":{"status":"Evidence aligned","headline":"Upward price structure retains strong Market Dynamics support","summary":"Market Dynamics strengthened this week and remains positive. Underlying support has strengthened across the recent completed path. The completed evidence supports the upward price structure.","take":"The advance remains supported. Reclassify it only if the broader Market Dynamics path weakens or price structure breaks.","tone":"positive","conflict":false},"marketDynamics":{"available":true,"readAvailable":true,"dates":["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":[-0.015488,-0.034074,-0.071005,-0.182078,-0.325872,-0.29781,-0.325952,-0.361387,-0.270325,-0.348695,-0.208209,0.057583,0.2457,0.527335,0.648889,0.701159,0.798637,0.830526,0.858721],"opens":[22.065001,22.165001,21.795,21.83,21.57,21.254999,22.344999,21.77,21.959999,21.93,22.355,22.91,22.625,22.870001,22.85,23.245001,23.33,23.375,23.205],"highs":[22.34,22.18,21.885,22.1,21.825001,22.18,22.4,21.959999,22.195,21.93,22.355,22.91,22.690001,22.889999,23.129999,23.5,23.525,23.405001,23.235001],"lows":[22.045,21.834999,21.43,21.33,21.264999,21.254999,21.905001,21.695,21.959999,21.870001,22.23,22.745001,22.625,22.775,22.700001,23.215,23.23,23.139999,23.02],"closes":[22.32,21.844999,21.84,21.549999,21.264999,22.18,21.93,21.695,22.155001,21.870001,22.344999,22.9,22.629999,22.889999,23.129999,23.424999,23.41,23.139999,23.235],"hoverRows":[[{"label":"Open","value":"22.1","className":"is-ohlc","compact":true},{"label":"High","value":"22.3","className":"is-ohlc","compact":true},{"label":"Low","value":"22.0","className":"is-ohlc","compact":true},{"label":"Close","value":"22.3","className":"is-ohlc","compact":true},{"label":"Market 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path."}},"diagnosis":{"label":"Sustained positive support","detail":"Market Dynamics remains positive and has strengthened across the recent completed path. A slight weekly pause does not yet change the broader constructive reading.","tone":"positive"},"chartSummary":"Price is between the outer positioning zones. The Market Dynamics bars show whether underlying support is strengthening or weakening.","summary":"Market Dynamics remains positive and has strengthened across the recent completed path. A slight weekly pause does not yet change the broader constructive reading.","annotations":[{"label":"Current tape relationship","value":"Sustained positive support","detail":"Market Dynamics strengthened this week and remains positive.","tone":"positive"},{"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":"Supported","detail":"Underlying support has strengthened across the recent completed path.","tone":"positive"}],"relationshipEvidence":{"available":false,"observations":19,"summary":"More completed weekly history is needed for a dependable ticker-level record."},"events":{"positioning_recoveries":[],"reversal_warnings":[],"reversal_dangers":[]}},"smTape":{"available":true,"dates":["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":[19.684,19.606,19.482,19.902,20.105,19.818,19.714,19.636,20.01,19.99,19.816,20.37,20.545,20.795,21.06,21.275,21.06,21.245,21.58,21.675,22.15,22.535,21.72,21.525,20.8,20.88,21.755,22.195,22.32,21.845,21.84,21.55,21.265,22.18,21.93,21.695,22.155,21.87,22.345,22.9,22.63,22.89,23.13,23.425,23.41,23.14,23.235],"consensus":[99.4612,-100.0,-54.3624,63.7306,12.3374,-9.7182,-9.1181,0.0,19.8149,0.0,-12.3062,33.2167,30.9714,35.2958,38.2801,38.7848,14.5694,35.8169,32.0989,27.6863,49.9237,53.2696,-22.0524,0.0,-51.0229,-11.2464,42.5768,47.8153,43.6379,-14.8562,14.3153,-26.4478,-38.8448,52.1046,-9.3113,-14.2812,37.947,-19.4834,39.4041,52.9833,0.0,48.3393,51.3091,47.8766,35.8307,0.0,37.2492],"supportDates":["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":[null,null,null,null,null,-16.1422,-17.6468,0.0,25.3224,0.0,-22.5592,38.4367,35.8345,36.5721,34.1428,40.1608,13.7538,42.5428,35.8543,31.7448,50.5851,58.6378,-25.5237,0.0,-43.5302,-2.8874,44.8083,45.7095,45.961,-22.4066,19.7336,-18.2141,-35.548,52.8849,-16.9979,-24.7648,43.202,-25.9577,49.9985,62.1445,0.0,56.5461,59.4299,54.441,34.7209,0.0,45.8108],"force":[99.4612,-100.0,-54.3624,63.7306,6.4279,-18.5862,-11.3851,0.0,32.4478,0.0,-15.9181,35.4605,29.6443,32.7746,34.5674,27.4874,0.5547,35.0655,22.1313,12.7521,50.769,44.0531,-75.4198,0.0,-87.0213,-4.9388,77.0115,67.0321,38.817,-60.6506,10.9391,-52.6149,-53.3639,86.9723,-25.3644,-20.2582,37.0418,-28.9278,33.5163,40.4552,0.0,33.8418,38.0917,31.1733,12.0353,0.0,31.4315],"direction":[null,null,null,null,16.5586,-3.9579,-2.2482,0.0,4.497,0.0,-1.9914,25.6481,26.3615,35.638,45.6605,45.2819,26.3044,28.6668,34.9268,33.7152,48.5641,53.7177,-20.0344,0.0,-33.8729,-32.3604,15.4303,36.4957,44.4265,-26.4831,10.5344,-17.1668,-32.2416,26.3073,-10.9399,-1.9695,32.5878,-5.3381,31.5019,51.4619,0.0,49.3153,51.4691,52.3055,54.0958,0.0,31.6201],"intensity":[null,null,null,null,50.0,40.0,16.6667,71.4286,62.5,33.3333,10.0,90.9091,66.6667,38.4615,57.1429,13.3333,18.75,29.4118,94.4444,52.6316,85.0,71.4286,95.4545,82.6087,91.6667,92.0,96.1538,81.4815,64.2857,65.5172,56.6667,35.4839,28.125,96.9697,79.4118,60.0,63.8889,27.027,65.7895,76.9231,17.5,17.0732,14.2857,72.093,2.2727,24.4444,4.3478],"confirmation":[54.4943,54.6667,40.0626,43.0604,26.3445,49.4599,48.6699,1.2124,51.9752,1.339,49.65,78.6182,77.7963,79.1984,80.1995,80.0459,49.6654,79.336,77.9107,76.3426,83.9913,84.6836,35.571,25.7849,85.5386,26.9532,82.64,83.9187,81.7818,34.351,72.3954,77.3862,80.923,85.7242,28.3522,50.3459,80.0354,51.7572,80.2684,84.4332,6.1076,82.9017,83.8923,82.7114,78.7575,30.5932,87.612],"persistence":[null,null,33.3333,0.0,20.0,0.0,14.2857,12.5,12.5,0.0,0.0,0.0,0.0,25.0,50.0,62.5,62.5,75.0,100.0,100.0,100.0,100.0,75.0,62.5,37.5,12.5,12.5,12.5,12.5,12.5,12.5,0.0,0.0,25.0,0.0,25.0,25.0,25.0,25.0,0.0,12.5,12.5,37.5,62.5,62.5,75.0,75.0],"assessmentRisk":[null,null,null,null,41.6769,39.1717,42.3442,39.9859,28.6507,29.5999,27.3682,32.9996,33.014,32.1918,30.8552,30.5524,41.2817,29.6924,32.9781,33.8065,25.0332,23.3644,30.2209,20.04,24.3864,44.3561,17.3989,21.0307,28.0543,55.7566,1.7409,30.6562,29.3898,2.1207,13.2766,22.0483,28.5774,20.5538,16.4744,23.1923,36.9098,25.0634,22.5201,19.472,30.4547,28.4612,2.1644],"volumeParticipation":true,"latest":{"consensus":37.2,"control":45.8,"force":31.4,"direction":31.6,"confirmation":87.6,"persistence":75.0,"assessmentRisk":2.2,"intensity":4.3,"evidenceDepth":100},"analysis":{"status":"Joint upward confirmation","headline":"The gauges support the upward market view","summary":"Price structure and Market Dynamics agree. 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":"Control support is easing","forceState":"Upward commitment","forcePath":"Broadly stable","directionState":"Upward follow-through","persistenceState":"Established","confirmationState":"Strong support","riskState":"Contained","intensityState":"Quiet"},"cards":[{"label":"SM Consensus Gauge","value":"+37.2","detail":"Joint upward confirmation","tone":"positive"},{"label":"SM Control Gauge","value":"+45.8","detail":"Buyer control supports the view","tone":"positive"},{"label":"SM Force Gauge","value":"+31.4","detail":"Upward commitment","tone":"positive"},{"label":"SM Direction Gauge","value":"+31.6","detail":"Upward 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Market Dynamics construction and private inputs are not disclosed. Historical research is not a forecast or instruction to trade."}