{"schema_version":"1.0","name":"FEPD Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"2b145b88-f8e0-484c-8ddc-4b475ca55ae3","symbol":"FEPD","name":"REX Tech Innovation Income & Growth UCITS ETF Distributing","exchange":"LSE","country":"GB","asset_type":"etf","currency":"GBP","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, Drawdown and recovery pressure, Acceleration, deceleration and rollover, Range pressure and compression, Directional strength and control, 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":56,"displayedObservations":56,"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 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cautious, Market Dynamics positive","kind":"disagreement","expectedDirection":"higher","episodes":2,"completedEpisodes":0,"activeEpisodes":2,"horizons":[{"weeks":4,"sample":2,"expectedCount":2,"expectedPercent":100.0,"averageReturn":2.9,"medianReturn":2.9,"confidenceLow":34.2,"confidenceHigh":100.0,"confidence":"Mixed historical record"},{"weeks":12,"sample":0,"expectedCount":0,"confidence":"Not enough evidence"},{"weeks":26,"sample":0,"expectedCount":0,"confidence":"Not enough evidence"}],"path":[{"week":0,"sample":0},{"week":1,"averageReturn":1.2,"sample":2},{"week":2,"averageReturn":-1.7,"sample":2},{"week":3,"averageReturn":2.4,"sample":2},{"week":4,"averageReturn":2.9,"sample":2},{"week":5,"averageReturn":-0.6,"sample":2},{"week":6,"averageReturn":-5.7,"sample":1},{"week":7,"averageReturn":-7.0,"sample":1},{"week":8,"averageReturn":-0.3,"sample":1},{"week":9,"averageReturn":0.4,"sample":1},{"week":10,"averageReturn":-1.3,"sample":1},{"week":11,"sample":0},{"week":12,"sample":0},{"week":13,"sample":0},{"week":14,"sample":0},{"week":15,"sample":0},{"week":16,"sample":0},{"week":17,"sample":0},{"week":18,"sample":0},{"week":19,"sample":0},{"week":20,"sample":0},{"week":21,"sample":0},{"week":22,"sample":0},{"week":23,"sample":0},{"week":24,"sample":0},{"week":25,"sample":0},{"week":26,"sample":0}]}},"pricePressureGap":{"label":"Price elevated relative to Market Dynamics","kind":"structuralDivergence","expectedDirection":"lower","episodes":0,"completedEpisodes":0,"activeEpisodes":0,"horizons":[{"weeks":4,"sample":0,"expectedCount":0,"confidence":"Not enough evidence"},{"weeks":12,"sample":0,"expectedCount":0,"confidence":"Not enough evidence"},{"weeks":26,"sample":0,"expectedCount":0,"confidence":"Not enough evidence"}],"path":[{"week":0,"sample":0},{"week":1,"sample":0},{"week":2,"sample":0},{"week":3,"sample":0},{"week":4,"sample":0},{"week":5,"sample":0},{"week":6,"sample":0},{"week":7,"sample":0},{"week":8,"sample":0},{"week":9,"sample":0},{"week":10,"sample":0},{"week":11,"sample":0},{"week":12,"sample":0},{"week":13,"sample":0},{"week":14,"sample":0},{"week":15,"sample":0},{"week":16,"sample":0},{"week":17,"sample":0},{"week":18,"sample":0},{"week":19,"sample":0},{"week":20,"sample":0},{"week":21,"sample":0},{"week":22,"sample":0},{"week":23,"sample":0},{"week":24,"sample":0},{"week":25,"sample":0},{"week":26,"sample":0}]},"currentApplication":{"status":"Price ahead of underlying support","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":"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.","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":10.8,"sample":2},"nowContext":{"label":"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 10.8% 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 2 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 4.0% across 2 completed cases, with the largest move arriving after 1.5 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":[{"date":"2026-05-01","price":1977.663208}],"reversal_warnings":[],"reversal_dangers":[]}},"smTape":{"available":true,"dates":["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":[1931.7114,1973.8704,1967.5768,1941.3022,1927.9313,1936.6238,2006.0137,2067.4607,2039.2054,2062.6873,2076.6768,2089.4167,2864.3101,2203.0627,2095.1333,2130.1104,1994.9987,2071.3911,2091.1309,2051.9016,2054.9001,2037.1365,2011.1475,2038.1361,2012.8967,1985.7583,1911.9972,1808.9297,1799.0328,1785.2373,1809.6295,1876.2085,1867.3114,1816.9261,1743.4412,1805.0284,1831.423,1936.9984,1962.8665,1977.6632,2089.0386,2152.2761,2147.249,2237.4885,2151.5725,2058.5567,2123.435,2032.6919,2055.9342,2060.6321,1956.494,1940.9545,1915.1214,2052.3046,2067.646,2031.0],"consensus":[-64.8094,55.1965,-12.5164,0.0,0.0,0.0,31.4502,54.5016,10.1889,31.2593,21.6768,22.8316,84.5352,-11.0355,-29.5777,0.0,-48.1679,0.0,0.0,-28.4281,0.0,-14.8424,-27.8041,0.0,-22.3961,-20.1829,-44.7735,-58.4577,-39.5515,-35.2648,-17.6391,18.5075,0.0,-28.7511,-44.783,0.0,0.0,43.6763,35.7723,30.2711,66.2411,69.6034,43.6395,64.4801,0.0,0.0,25.4188,-12.691,0.0,0.0,-28.5364,-33.315,-37.9422,38.4345,22.6077,-10.4427],"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":[null,0.0,36.5113,49.4361,0.1867,23.1428,11.4816,20.3651,74.7089,-15.6785,-35.8431,0.0,-42.8299,0.0,0.0,-29.943,0.0,-14.4329,-28.2988,0.0,-20.2322,-14.9313,-42.1163,-50.7215,-37.7446,-29.5234,-10.4357,18.0462,0.0,-38.6024,-51.7943,0.0,0.0,47.9804,34.4523,27.3865,71.2618,68.6996,44.0101,69.4276,0.0,0.0,34.2327,-3.1588,0.0,0.0,-22.2191,-30.5603,-29.9052,41.0883,19.058,-18.3845],"force":[0.0,0.0,26.3619,62.7848,20.3842,19.0799,7.3358,11.9217,94.9035,-60.1156,-50.6723,0.0,-64.182,0.0,0.0,-35.394,0.0,-10.464,-27.2819,0.0,-27.5072,-19.7901,-52.8092,-73.7319,-19.998,-16.9754,-8.5348,54.4905,0.0,-27.0519,-37.3438,0.0,0.0,52.6735,30.527,17.462,69.6446,80.7744,18.8119,53.5262,0.0,0.0,16.0382,-16.8633,0.0,0.0,-20.3687,-28.8715,-39.2232,77.7261,20.4124,-33.7959],"direction":[0.0,0.0,29.3006,54.3742,43.4578,49.2347,43.5719,33.4433,88.3595,-29.3279,-7.3498,0.0,-42.8298,0.0,0.0,-21.7213,0.0,-18.4379,-27.6117,0.0,-21.2184,-26.4654,-42.0704,-56.389,-55.5832,-54.8903,-44.5671,6.6675,0.0,-18.7061,-42.0837,0.0,0.0,32.3308,41.0274,42.7172,58.072,62.657,60.9501,66.6501,0.0,0.0,22.0463,-20.6046,0.0,0.0,-41.5902,-39.6372,-46.2123,7.3362,28.2327,-15.3145],"intensity":[25.0,20.0,100.0,85.7143,62.5,22.2222,70.0,54.5455,100.0,92.3077,85.7143,53.3333,87.5,76.4706,61.1111,26.3158,65.0,4.7619,22.7273,26.087,16.6667,68.0,80.7692,92.5926,82.1429,31.0345,13.3333,70.9677,34.375,54.5455,76.4706,68.5714,80.5556,86.4865,55.2632,69.2308,90.0,65.8537,2.381,83.7209,81.8182,91.1111,78.2609,91.4894,27.0833,2.0408,96.0,49.0196,57.6923,94.2308,78.8462,25.0],"confirmation":[1.4683,23.8954,77.8319,85.7702,6.8297,77.7555,51.9882,75.0112,95.517,33.8797,55.3456,24.0436,83.9831,28.3883,25.0845,77.2862,1.6443,72.6224,76.8739,3.3988,75.3555,74.5266,82.6129,87.2899,80.0881,78.8148,29.444,53.7818,2.1405,76.9984,81.997,30.0988,3.1046,82.185,79.3074,77.3403,89.2244,90.6273,81.2024,88.2244,8.5764,25.4848,75.7138,49.6668,3.313,24.9902,76.979,78.5674,80.303,58.7894,75.2217,21.5036],"persistence":[20.0,16.6667,0.0,12.5,37.5,37.5,62.5,75.0,87.5,75.0,50.0,37.5,12.5,0.0,12.5,37.5,50.0,50.0,50.0,50.0,50.0,62.5,75.0,75.0,87.5,87.5,87.5,75.0,62.5,62.5,62.5,50.0,37.5,12.5,12.5,12.5,25.0,50.0,75.0,87.5,87.5,75.0,75.0,50.0,37.5,25.0,0.0,25.0,37.5,25.0,25.0,25.0],"assessmentRisk":[5.5904,44.8102,25.2284,22.6707,44.678,34.3015,37.8244,18.826,7.6903,28.4301,18.0169,5.2631,25.6771,22.24,1.7139,0.9817,10.7974,1.5009,0.3593,2.4478,3.9579,3.8258,24.7789,20.7451,30.1918,32.359,40.8507,36.9656,47.9289,46.3637,22.805,45.5027,29.1541,26.4777,32.0531,34.6645,16.8737,15.1685,28.0905,17.7519,34.3928,40.1717,29.6154,43.3751,45.9723,2.1971,34.8397,26.4102,29.1961,24.8014,34.3268,47.5275],"volumeParticipation":true,"latest":{"consensus":-10.4,"control":-18.4,"force":-33.8,"direction":-15.3,"confirmation":21.5,"persistence":25.0,"assessmentRisk":47.5,"intensity":25.0,"evidenceDepth":100},"analysis":{"status":"Market Dynamics has stronger support","headline":"The gauges support the Market Dynamics view","summary":"Price structure and Market Dynamics disagree. The completed evidence gives the downward Market Dynamics view stronger support.","take":"Current assessment: the visible price structure remains vulnerable until Market Dynamics changes.","tone":"negative","supportedView":"Market Dynamics","direction":"downward","disagreement":true},"support":{"window":"Latest 12 months","controlState":"Seller control supports the view","controlPath":"Control support is easing","forceState":"Downward commitment","forcePath":"Broadly stable","directionState":"Downward follow-through","persistenceState":"Unsettled","confirmationState":"Limited support","riskState":"Present","intensityState":"Quiet"},"cards":[{"label":"SM Consensus Gauge","value":"-10.4","detail":"Market Dynamics has stronger support","tone":"negative"},{"label":"SM Control Gauge","value":"-18.4","detail":"Seller control supports the view","tone":"negative"},{"label":"SM Force Gauge","value":"-33.8","detail":"Downward commitment","tone":"negative"},{"label":"SM Direction Gauge","value":"-15.3","detail":"Downward follow-through","tone":"negative"},{"label":"SM Confirmation Gauge","value":"22/100","detail":"Limited support","tone":"caution"}]},"kpis":[{"label":"Price structure","value":"Aligned upward","detail":"completed-week alignment","tone":"positive"},{"label":"Momentum","value":"51.9","detail":"Positive","tone":"positive"},{"label":"Risk pressure","value":"5.1%","detail":"Contained","tone":"neutral"},{"label":"Trend quality","value":"19.1","detail":"Range-led","tone":"neutral"},{"label":"Range position","value":"59%","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":[1931.7114,1973.8704,1967.5768,1941.3022,1927.9313,1936.6238,2006.0137,2067.4607,2039.2054,2062.6873,2076.6768,2089.4167,2864.3101,2203.0627,2095.1333,2130.1104,1994.9987,2071.3911,2091.1309,2051.9016,2054.9001,2037.1365,2011.1475,2038.1361,2012.8967,1985.7583,1911.9972,1808.9297,1799.0328,1785.2373,1809.6295,1876.2085,1867.3114,1816.9261,1743.4412,1805.0284,1831.423,1936.9984,1962.8665,1977.6632,2089.0386,2152.2761,2147.249,2237.4885,2151.5725,2058.5567,2123.435,2032.6919,2055.9342,2060.6321,1956.494,1940.9545,1915.1214,2052.3046,2067.646,2031.0],"stroke":"#10243b","width":2.1},{"label":"Fast trend","values":[null,null,null,null,1941.0145,1940.2162,1952.1793,1973.1396,1985.1516,1999.249,2013.3267,2027.1613,2179.3702,2183.6779,2167.5789,2160.7664,2130.6268,2119.8567,2114.6338,2103.228,2094.4411,2084.0221,2070.7721,2064.8383,2055.3944,2042.7333,2018.9631,1980.7752,1947.7311,1918.1868,1898.4491,1894.4054,1889.4792,1876.2877,1852.1338,1843.5692,1841.3608,1858.7494,1877.6798,1895.8586,1930.9822,1971.2175,2003.2232,2045.8169,2065.0452,2063.8655,2074.6963,2067.0591,2065.0364,2064.2356,2044.6462,2025.7932,2005.6711,2014.1499,2023.8764,2025.1716],"stroke":"#176fa3","width":1.7},{"label":"Slow 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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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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,8.9757,9.2869,8.9595,9.6365,9.0232,8.5778,8.4062,8.1379,7.8626,7.6165,7.2692,7.1042,7.0163,7.1832,7.8476,7.7344,7.6022,7.3168,6.9382,6.845,6.9144,7.1449,6.7936,6.5551,6.1924,6.0308,5.7351,5.4275,5.114,5.0459,4.8875,5.0278,5.294,5.0122,5.3433,5.0533,4.8325,5.4406,5.4057,5.5022,5.3192,5.0941,5.0653],"stroke":"#c13f3f","width":1.9},{"label":"Envelope 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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,57.4136,54.079,50.9825,48.3172,45.7844,42.8116,39.8478,37.1883,35.5093,34.1472,31.9517,30.2493,29.0463,28.1551,28.2547,28.8242,29.4332,30.6398,31.7602,31.0434,30.8782,29.2187,27.9574,26.8586,25.7041,24.3641,23.6441,21.956,20.5277,19.0965],"stroke":"#10243b","width":2.0},{"label":"Positive direction","values":[null,null,null,null,null,null,null,null,null,null,null,null,null,29.3797,27.7252,26.2475,24.195,23.1092,23.0561,22.5537,21.6015,20.9419,20.3338,19.5214,18.7807,17.8991,16.8606,15.1474,14.3498,13.6613,13.2184,14.8762,15.6997,14.8323,13.8901,13.1022,16.1749,18.9383,19.832,20.5046,25.0678,27.8547,26.966,30.8497,28.9587,26.6923,29.4778,26.8223,28.18,27.8679,24.2084,24.5979,22.7429,27.1849,27.2034,25.8624],"stroke":"#07865c","width":1.6},{"label":"Negative direction","values":[null,null,null,null,null,null,null,null,null,null,null,null,null,2.1583,3.3676,4.4972,8.1222,7.7576,7.506,7.2482,9.3926,9.1058,9.135,9.3291,9.055,11.4792,13.2874,18.7883,17.7991,17.9867,17.1195,16.1692,15.2912,15.6288,18.2937,18.2577,17.3171,16.0943,15.1428,14.6757,13.6321,13.0394,12.3002,11.3162,10.6225,17.1641,16.3199,23.0126,22.3397,21.6424,30.0074,28.2685,30.3233,27.1793,26.1576,26.1178],"stroke":"#c13f3f","width":1.6}],"guides":[],"dates":["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":"range","eyebrow":"Acceptance 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FEPD Technical Research Pack, completed week 2026-08-21, https://sharemaestro.com/terminal/2b145b88-f8e0-484c-8ddc-4b475ca55ae3/technical-pack/","data_notes":{"time_series":"Parallel time-series arrays align by index with their dates array.","events":"Sparse chart markers are published as compact dated event records rather than null-filled arrays.","missing_values":"A remaining null in an aligned series means that observation is genuinely unavailable; zero remains a valid value."},"boundary":"Completed market observations and published proprietary outputs only. Market Dynamics construction and private inputs are not disclosed. Historical research is not a forecast or instruction to trade."}