{"schema_version":"1.0","name":"FTAI Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"2fbeca76-1a64-40aa-99e3-5cf019f52275","symbol":"FTAI","name":"First Trust Bloomberg Artificial Intelligence UCITS ETF Class A Acc","exchange":"LSE","country":"GB","asset_type":"etf","currency":"USD","sector":null,"industry":null},"summary":"Market Dynamics improved this week but remains below zero. Underlying support has contracted across the recent completed path. Price has moved below the distribution zone after Market Dynamics weakened.","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, Range position and boundary pressure, 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":60,"displayedObservations":60,"assetType":"ETF","state":"Aligned upward","stateTone":"positive","summary":"Market Dynamics improved this week but remains below zero. Underlying support has contracted across the recent completed path. Price has moved below the distribution zone after Market Dynamics weakened.","evidenceAlignment":{"status":"Rollover warning","headline":"Price has moved below distribution as Market Dynamics weakened","summary":"Market Dynamics improved this week but remains below zero. Underlying support has contracted across the recent completed path. Price has moved below the distribution zone after Market Dynamics weakened.","take":"The prior extension has started to roll over. Further price weakness would confirm the downside transition; a recovery in both readings would remove the 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Further price weakness would confirm the rollover.","confirm":"Further price weakness with weak Market Dynamics would confirm the rollover.","invalidate":"A recovery in both price and Market Dynamics would remove the rollover warning.","level":"negative","direction":"strengthening","zone":"middle","zoneContext":"Price has moved down through distribution conditions as Market Dynamics contracted. The completed tape now carries a stronger continuation-risk warning.","historical":{"label":"Broad directional cases","weeks":12,"direction":"lower","percent":0.0,"averageReturn":34.2,"sample":2},"nowContext":{"label":"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 has moved below distribution","detail":"Price left the upper zone as Market Dynamics weakened."}},"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 34.2% across 2 cases.","watch":"A recovery in both price and Market Dynamics would remove the rollover warning."},{"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 8.6% across 2 completed cases, with the largest move arriving after 2.0 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":26.77}],"reversal_warnings":[{"date":"2026-05-29","price":31.7325},{"date":"2026-08-07","price":31.3125}],"reversal_dangers":[{"date":"2026-06-12","price":30.192499},{"date":"2026-08-21","price":30.592501}]}},"smTape":{"available":true,"dates":["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":[20.42,20.4825,20.8375,21.215,20.8425,21.52,21.655,21.215,21.22,21.405,22.295,22.995,22.555,23.315,23.31,23.3525,23.88,25.0075,23.59,23.9425,22.21,23.7425,24.18,23.6,23.585,24.04,23.905,24.3575,24.22,25.63,24.2825,22.5975,22.74,23.0025,22.625,22.88,22.4325,22.2825,21.0575,21.7875,23.205,25.34,26.1275,26.77,28.785,28.82,29.655,31.7325,30.6075,30.1925,31.3425,29.745,30.0825,30.3425,28.56,28.39,28.785,31.3125,31.51,30.5925],"consensus":[61.5381,-24.242,33.0004,97.9491,22.3276,70.5799,50.4498,0.0,19.1224,30.4349,68.2717,85.9089,0.0,78.5304,27.5513,24.3735,61.4831,64.7769,-18.9399,32.2867,-62.6175,40.4947,57.3209,-24.4297,17.4397,43.4644,0.0,52.3877,0.0,67.19,-19.4638,-60.6263,-28.9682,0.0,-46.9223,0.0,-49.6081,-43.1011,-69.0735,0.0,42.7618,67.793,60.8001,65.0296,86.7857,40.2019,74.0345,89.0411,13.5566,34.275,54.6832,14.2406,25.4638,20.1218,-30.7772,-31.9218,9.6556,69.5419,40.599,-9.6232],"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":[9.0866,40.0291,74.5651,85.2326,0.0,72.3558,7.6148,8.9498,62.7306,54.4219,-27.4216,26.2961,-56.0044,59.3407,60.6718,-16.6298,11.428,53.6676,0.0,59.6683,0.0,69.4886,-22.7299,-48.7949,-25.0513,0.0,-49.6899,0.0,-48.0162,-47.8451,-77.785,0.0,49.5748,78.494,53.9796,74.5179,90.6449,31.4012,81.7173,92.2802,9.9915,26.4741,52.9021,30.9487,34.8743,12.4956,-28.9057,-29.0221,17.3762,74.0524,37.8301,-18.4845],"force":[3.2639,22.9048,50.8285,92.7518,0.0,86.6217,8.0558,3.1689,55.3445,73.2218,-84.5647,22.1567,-98.4113,60.8679,74.3158,-77.1156,12.6241,47.985,0.0,55.8469,0.0,75.6233,-68.2544,-90.5377,-8.6471,0.0,-38.2915,0.0,-67.3946,-30.4099,-60.5429,0.0,58.7414,64.7735,67.2965,45.3469,96.7704,5.2815,57.6605,95.4377,33.6116,2.0456,33.0405,20.3518,4.3489,3.4725,-38.387,-37.534,39.354,94.4155,25.7481,-67.0301],"direction":[41.9194,24.8489,73.5388,81.794,0.0,79.8076,75.7694,61.6736,64.442,70.579,-37.6283,46.3689,-44.6083,4.4042,41.3521,-4.2888,27.7499,28.5745,0.0,41.5962,0.0,58.5393,-19.1192,-52.7826,-47.9597,0.0,-49.9243,0.0,-38.7228,-46.7445,-65.2108,0.0,23.5614,57.7201,63.9546,68.245,75.2431,75.2031,76.9499,80.7703,74.1603,69.1337,72.1779,19.8545,29.791,40.7298,-27.4804,-31.2271,20.381,46.6202,54.3714,-41.5089],"intensity":[50.0,22.2222,100.0,90.9091,58.3333,69.2308,57.1429,40.0,56.25,100.0,100.0,78.9474,100.0,95.2381,72.7273,43.4783,83.3333,60.0,3.8462,37.037,3.5714,89.6552,83.3333,100.0,50.0,81.8182,20.5882,14.2857,36.1111,10.8108,78.9474,51.2821,90.0,97.561,95.2381,44.186,93.1818,62.2222,58.6957,93.617,70.8333,73.4694,70.0,90.1961,40.3846,5.7692,88.4615,44.2308,57.6923,100.0,86.5385,51.9231],"confirmation":[51.1221,77.3635,89.2195,95.7097,39.4456,93.4704,9.7536,53.2045,87.4685,89.1438,38.6255,78.1143,89.2292,58.6254,86.8096,55.7903,73.5255,81.8909,5.1946,84.7586,6.1825,89.7228,34.411,88.4923,76.7102,32.1941,82.7099,29.0902,84.4409,81.3333,89.7108,34.8048,82.0669,89.4387,87.7579,88.065,96.0169,57.2678,91.0749,96.6387,35.2281,55.7497,84.8662,30.2565,52.6948,51.3811,78.1091,78.4302,30.8919,90.9427,80.5813,26.0754],"persistence":[62.5,87.5,87.5,87.5,75.0,75.0,75.0,87.5,87.5,87.5,62.5,62.5,50.0,50.0,50.0,25.0,25.0,25.0,37.5,37.5,50.0,50.0,25.0,25.0,0.0,12.5,25.0,37.5,50.0,75.0,75.0,62.5,37.5,25.0,0.0,12.5,37.5,62.5,87.5,100.0,100.0,100.0,100.0,100.0,100.0,100.0,75.0,50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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":"Commitment is strengthening","directionState":"Downward follow-through","persistenceState":"Unsettled","confirmationState":"Limited support","riskState":"Present","intensityState":"Normal"},"cards":[{"label":"SM Consensus Gauge","value":"-9.6","detail":"Market Dynamics has stronger support","tone":"negative"},{"label":"SM Control Gauge","value":"-18.5","detail":"Seller control supports the view","tone":"negative"},{"label":"SM Force Gauge","value":"-67.0","detail":"Downward commitment","tone":"negative"},{"label":"SM Direction 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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,0.0,0.0,0.0,12.3457,61.8267,460.7889,535.1333,24.7996,99.1306,19.7414,67.0791,109.4332,20.8522,215.8978,20.2115,167.2552,1242.9243,366.7104,10.3576,98.1501,28.3272,370.5092,15.393,466.9486,930.9323,152.7845,272.5851,5.8564,9.6454,54.9388,1.7167,2.0102,13.5771,0.0,3.4571,38.6111,3.5292,21.8418,2.7853,5.4777,17.3447,0.6991,0.0,0.0,2.0034,0.0,38.8073,0.0,55.9566,506.2514,422.3542,69.1715,1148.652],"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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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 range.","series":[{"label":"Range position","values":[null,null,null,null,null,null,null,56.2698,56.5332,66.2804,93.7787,100.0,76.9821,93.9224,81.1442,74.6681,86.9555,94.3603,66.8414,73.6847,40.0505,69.802,78.2955,67.0355,66.7443,75.5776,71.4432,80.3776,76.3881,100.0,72.3873,37.8586,40.7787,45.6005,37.7847,33.5749,12.1566,8.0357,-7.3911,22.2953,50.9606,94.1355,95.2319,100.0,100.0,92.998,100.0,100.0,89.8167,86.0602,96.4698,82.0095,85.0645,87.418,71.2831,69.7443,73.3198,96.1982,97.986,89.6809],"stroke":"#10243b","width":2.0},{"label":"From 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