{"schema_version":"1.0","name":"00991A Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"2a30db9e-99a3-43e8-a963-c7774bda2c94","symbol":"00991A","name":"Fuh Hwa Taiwan Future 50 Active ETF","exchange":"TAI","country":"TW","asset_type":"etf","currency":"TWD","sector":null,"industry":null},"summary":"The completed price path and its progression through the positioning zones can be described, but there is not enough usable Market Dynamics history to confirm or challenge the technical state.","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 pressure and compression, Drawdown and recovery pressure, Range position and boundary pressure."},{"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":35,"displayedObservations":35,"assetType":"ETF","state":"Aligned upward","stateTone":"positive","summary":"The completed price path and its progression through the positioning zones can be described, but there is not enough usable Market Dynamics history to confirm or challenge the technical state.","evidenceAlignment":{"status":"Evidence developing","headline":"Price structure is visible; Market Dynamics is not yet established","summary":"The completed price path and its progression through the positioning zones can be described, but there is not enough usable Market Dynamics history to confirm or challenge the technical state.","take":"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 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Market Dynamics history is not yet sufficient to confirm or challenge that progression.","tone":"neutral"},"chartSummary":"Price is between the outer positioning zones. The Market Dynamics bars show whether underlying support is strengthening or weakening.","summary":"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.","annotations":[{"label":"Current tape relationship","value":"Zone progression","detail":"Market Dynamics improved this week but remains below zero.","tone":"neutral"},{"label":"Price location","value":"Between zones","detail":"Price is progressing between the lower and upper positioning zones while the Market Dynamics read develops.","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":"Unavailable","detail":"Too little usable Market Dynamics history is available for a directional confirmation 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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":"negative","direction":"strengthening","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":"Slightly stronger this week","detail":"Market Dynamics improved this week but remains below zero."},"fourWeekContext":{"label":"Weakened over four weeks","detail":"Underlying support has contracted across the recent completed path."},"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."}]},"summary":"This record compares the ticker's completed price path with its published Market Dynamics history."},"events":{"positioning_recoveries":[],"reversal_warnings":[],"reversal_dangers":[]}},"smTape":{"available":true,"dates":["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","2026-02-27","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":[9.84,10.35,10.42,10.42,11.05,11.42,11.82,11.28,12.06,12.88,12.02,12.3,13.12,12.58,12.3,13.89,14.65,16.25,16.8,17.49,17.65,18.58,19.64,19.22,19.05,20.68,18.8283,19.7626,18.5995,16.0351,16.42,15.41,16.86,18.24,17.52],"consensus":[63.6364,80.9524,18.1818,-25.4386,80.7609,76.3166,67.7862,0.0,80.6639,84.2764,0.0,56.6978,72.8871,0.0,11.3171,80.2518,70.3542,82.5395,63.045,62.6797,36.4429,79.7051,54.8638,25.1901,23.1422,79.3944,-15.1094,56.4317,0.0,-69.4603,-15.8852,-54.247,15.9535,49.6742,17.8401],"supportDates":["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","2026-02-27","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,85.7385,69.0164,0.0,86.4817,83.6837,0.0,44.8377,67.528,0.0,5.461,80.516,77.7142,87.5602,59.0053,54.4283,18.1642,85.1177,49.1277,16.9971,6.6266,86.7311,-19.9737,70.3905,0.0,-74.6813,-6.556,-39.4036,26.126,47.5981,23.3478],"force":[63.6364,80.9524,18.1818,-25.4386,54.3503,51.0886,41.9421,0.0,70.7394,83.5678,0.0,57.7948,76.452,0.0,13.472,84.1675,66.0311,88.2808,52.1634,56.0646,11.4846,76.8731,32.2433,26.3882,11.898,77.8316,-62.9986,42.7317,0.0,-81.184,-15.9269,-70.8936,66.5836,78.7396,49.2791],"direction":[null,null,null,null,99.6257,83.5686,84.8404,0.0,81.1041,85.4598,0.0,69.4687,76.4655,0.0,35.7162,77.1529,65.0306,72.7007,75.4345,76.8348,75.1602,75.542,77.577,71.3951,67.0459,72.126,-24.6563,50.2646,0.0,-55.1193,-49.2699,-59.3204,31.8367,31.2857,10.9107],"intensity":[null,null,null,null,100.0,60.0,100.0,71.4286,100.0,100.0,90.0,54.5455,100.0,38.4615,28.5714,100.0,87.5,100.0,94.4444,73.6842,60.0,66.6667,100.0,69.5652,37.5,92.0,96.1538,59.2593,75.0,96.5517,40.0,90.3226,93.75,72.7273,38.2353],"confirmation":[43.0303,48.5714,28.4848,30.807,69.9695,91.5089,88.8852,15.06,93.4213,94.9559,37.2305,86.3575,91.5142,8.663,5.8292,93.7959,90.2694,94.5111,87.9043,87.9816,79.1796,93.3368,84.9544,34.9099,9.1275,93.2468,34.147,85.4279,4.4233,90.505,7.6536,86.0925,35.9516,84.8132,31.5773],"persistence":[null,null,100.0,50.0,60.0,66.6667,71.4286,62.5,62.5,62.5,50.0,75.0,75.0,62.5,62.5,75.0,75.0,75.0,87.5,87.5,87.5,100.0,100.0,100.0,100.0,100.0,75.0,75.0,62.5,37.5,12.5,12.5,12.5,12.5,12.5],"assessmentRisk":[null,null,null,null,9.6059,11.8258,16.1065,45.7428,9.077,7.7828,19.7826,19.9287,12.011,25.6031,18.0429,9.0501,13.7868,8.7246,18.4769,18.653,31.758,10.0034,22.5292,36.8533,36.7233,9.9369,27.0263,2.0461,20.2334,15.2108,40.4107,22.8074,52.1401,21.8457,43.447],"volumeParticipation":true,"latest":{"consensus":17.8,"control":23.3,"force":49.3,"direction":10.9,"confirmation":31.6,"persistence":12.5,"assessmentRisk":43.4,"intensity":38.2,"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 strengthening","forceState":"Upward commitment","forcePath":"Commitment is strengthening","directionState":"Follow-through is limited","persistenceState":"Unsettled","confirmationState":"Limited support","riskState":"Present","intensityState":"Normal"},"cards":[{"label":"SM Consensus Gauge","value":"+17.8","detail":"Price structure has the available support","tone":"positive"},{"label":"SM Control Gauge","value":"+23.3","detail":"Buyer control supports the view","tone":"positive"},{"label":"SM Force Gauge","value":"+49.3","detail":"Upward commitment","tone":"positive"},{"label":"SM Direction Gauge","value":"+10.9","detail":"Follow-through is limited","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":"57.4","detail":"Positive","tone":"positive"},{"label":"Risk pressure","value":"8.2%","detail":"Elevated","tone":"caution"},{"label":"Trend quality","value":"28.2","detail":"Directional","tone":"positive"},{"label":"Range position","value":"67%","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":[9.84,10.35,10.42,10.42,11.05,11.42,11.82,11.28,12.06,12.88,12.02,12.3,13.12,12.58,12.3,13.89,14.65,16.25,16.8,17.49,17.65,18.58,19.64,19.22,19.05,20.68,18.8283,19.7626,18.5995,16.0351,16.42,15.41,16.86,18.24,17.52],"stroke":"#10243b","width":2.1},{"label":"Fast trend","values":[null,null,null,null,10.2677,10.4772,10.7213,10.8229,11.0478,11.381,11.4971,11.6431,11.9116,12.0332,12.0817,12.4105,12.8177,13.4417,14.0523,14.6773,15.2178,15.8291,16.522,17.0126,17.383,17.9825,18.1363,18.432,18.4624,18.0211,17.73,17.3082,17.2267,17.4109,17.4308],"stroke":"#176fa3","width":1.7},{"label":"Slow trend","values":[null,null,null,null,null,null,null,null,null,null,null,null,11.0291,11.144,11.2296,11.4267,11.6654,12.005,12.3602,12.7402,13.1039,13.5095,13.9636,14.353,14.7009,15.1438,15.4167,15.7387,15.9506,15.9568,15.9911,15.9481,16.0156,16.1804,16.2796],"stroke":"#07865c","width":1.8},{"label":"Upper envelope","values":[null,null,null,null,null,null,null,null,null,12.9194,12.9881,13.1028,13.4214,13.5161,13.537,13.9232,14.434,15.309,16.1054,16.894,17.6045,18.4369,19.3744,20.0323,20.5714,21.3649,21.7007,22.0542,22.2015,22.1479,21.989,21.7904,21.6727,21.5024,21.0732],"stroke":"#98a9b8","width":1.0,"dash":[6,5]},{"label":"Lower envelope","values":[null,null,null,null,null,null,null,null,null,9.3886,9.4774,9.5405,9.4986,9.5639,9.6443,9.5456,9.3777,8.9854,8.6788,8.4,8.4705,8.4611,8.4456,8.6677,8.9286,9.0611,9.4261,9.9209,10.4276,10.7966,11.3955,11.9052,12.3969,13.1332,14.0843],"stroke":"#98a9b8","width":1.0,"dash":[6,5]}],"guides":[],"dates":["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","2026-02-27","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,121.7754,51.4014,97.3863,141.6386,108.012,114.5396,113.1496,90.2882,84.0295,72.7466,103.4291,131.4112,123.3519,159.3112,103.0838,30.9299,143.2456,23.733,89.3452,53.9576,27.0615,0.0,97.9768,178.8326,404.5437,200.2746,123.9832,154.8609],"stroke":"#1678a7","width":1.8},{"label":"Cumulative balance","values":[null,null,null,null,null,null,null,125.8635,129.4992,135.0,124.9687,132.6746,135.0,127.9439,122.3523,127.5015,131.8846,135.0,135.0,135.0,135.0,135.0,135.0,130.6419,129.9379,132.5983,131.0291,131.7771,131.7771,129.1449,134.0138,121.0146,127.7856,132.0288,126.511],"stroke":"#07865c","width":1.7}],"guides":[{"label":"Typical activity","values":[100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0],"stroke":"#8fa0af","width":1.0,"dash":[6,5]}],"dates":["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","2026-02-27","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 strength","values":[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,41.5312,41.1233,40.1902,37.625,35.1579,33.6158,31.6398,29.7502,28.1611],"stroke":"#10243b","width":2.0},{"label":"Positive direction","values":[null,null,null,null,null,null,null,null,null,null,null,null,null,30.8243,27.0691,32.6417,37.3727,45.7527,47.8101,51.6963,52.4918,45.8137,50.4319,44.2062,42.0626,44.0458,38.8293,36.3694,33.6501,28.5766,29.0894,24.7841,26.2514,30.196,29.5854],"stroke":"#07865c","width":1.6},{"label":"Negative direction","values":[null,null,null,null,null,null,null,null,null,null,null,null,null,16.656,18.8598,15.9813,14.5091,12.3525,11.5735,10.3654,9.2153,13.7383,12.5305,18.3906,17.4988,15.5772,18.3481,17.1857,18.9038,31.1308,27.348,32.5654,29.5746,27.219,25.4559],"stroke":"#c13f3f","width":1.6}],"guides":[],"dates":["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","2026-02-27","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,5.2011,5.6248,5.4582,5.293,5.2046,4.9892,4.9688,5.1426,5.1975,5.0059,5.4188,5.3354,5.1268,5.9312,5.6021,5.9739,7.5767,7.8209,9.0825,8.4879,7.9158,8.1825],"stroke":"#c13f3f","width":1.9},{"label":"Envelope width","values":[null,null,null,null,null,null,null,null,null,31.6547,31.2538,31.4643,34.2298,34.2478,33.5853,37.3054,42.4687,52.0582,59.93,67.1621,70.0589,74.175,78.5681,79.1959,78.9341,80.8774,78.8686,75.8923,72.1681,68.9115,63.4632,58.6733,54.4519,48.3275,39.7576],"stroke":"#b87806","width":1.7}],"guides":[],"dates":["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","2026-02-27","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":"drawdown","eyebrow":"Path 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 tape.","series":[{"label":"Drawdown","values":[0.0,0.0,0.0,0.0,0.0,0.0,0.0,-4.5685,0.0,0.0,-6.677,-4.5031,0.0,-4.1159,-6.25,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,-2.1385,-3.0041,0.0,-8.9539,-4.4362,-10.0603,-22.461,-20.5996,-25.4836,-18.4719,-11.7988,-15.2805],"stroke":"#c13f3f","width":1.9,"fill":"rgba(193,63,63,.10)"},{"label":"Recovery","values":[null,null,null,null,null,null,null,14.6341,22.561,30.8943,22.1545,25.0,33.3333,27.8455,25.0,41.1585,48.8821,65.1423,70.7317,77.7439,79.3699,88.8211,99.5935,95.3252,93.5976,110.1626,81.9163,89.6603,78.4984,45.1137,45.5674,36.6135,49.4681,51.7471,45.7571],"stroke":"#07865c","width":1.7}],"guides":[{"label":"Prior high","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],"stroke":"#8fa0af","width":1.0,"dash":[6,5]}],"dates":["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","2026-02-27","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 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