{"schema_version":"1.0","name":"XX20 Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"35b39e06-5a82-4384-9303-6e6d93c64afc","symbol":"XX20","name":"First Sentier ex-20 Australian Share Fund Active ETF","exchange":"ASX","country":"AU","asset_type":"etf","currency":"AUD","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 position and boundary pressure, Acceleration, deceleration and rollover, Directional strength and control, Drawdown and recovery 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":36,"displayedObservations":36,"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":["2026-07-03","2026-07-10","2026-07-17","2026-07-24","2026-07-31","2026-08-07","2026-08-14","2026-08-21"],"values":[0.429841,0.642873,0.699887,0.817142,0.951754,1.072836,1.237246,1.319482],"opens":[1.25,1.305,1.27,1.245,1.235,1.28,1.335,1.375],"highs":[1.25,1.305,1.27,1.26,1.28,1.335,1.375,1.38],"lows":[1.25,1.305,1.27,1.235,1.235,1.28,1.335,1.345],"closes":[1.25,1.305,1.27,1.235,1.28,1.335,1.375,1.38],"hoverRows":[[{"label":"Open","value":"1.25","className":"is-ohlc","compact":true},{"label":"High","value":"1.25","className":"is-ohlc","compact":true},{"label":"Low","value":"1.25","className":"is-ohlc","compact":true},{"label":"Close","value":"1.25","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.43","note":"Supportive and strengthening","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"1.30","className":"is-ohlc","compact":true},{"label":"High","value":"1.30","className":"is-ohlc","compact":true},{"label":"Low","value":"1.30","className":"is-ohlc","compact":true},{"label":"Close","value":"1.30","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.64","note":"Supportive and strengthening","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"1.27","className":"is-ohlc","compact":true},{"label":"High","value":"1.27","className":"is-ohlc","compact":true},{"label":"Low","value":"1.27","className":"is-ohlc","compact":true},{"label":"Close","value":"1.27","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.70","note":"Supportive and strengthening","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"1.25","className":"is-ohlc","compact":true},{"label":"High","value":"1.26","className":"is-ohlc","compact":true},{"label":"Low","value":"1.24","className":"is-ohlc","compact":true},{"label":"Close","value":"1.24","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.82","note":"Supportive and strengthening","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"1.24","className":"is-ohlc","compact":true},{"label":"High","value":"1.28","className":"is-ohlc","compact":true},{"label":"Low","value":"1.24","className":"is-ohlc","compact":true},{"label":"Close","value":"1.28","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.95","note":"Supportive and strengthening","className":"is-positive","wide":true},{"label":"Signal / event","value":"Positioning recovery","className":"is-positive","wide":true}],[{"label":"Open","value":"1.28","className":"is-ohlc","compact":true},{"label":"High","value":"1.33","className":"is-ohlc","compact":true},{"label":"Low","value":"1.28","className":"is-ohlc","compact":true},{"label":"Close","value":"1.33","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"1.07","note":"Supportive and strengthening","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"1.33","className":"is-ohlc","compact":true},{"label":"High","value":"1.38","className":"is-ohlc","compact":true},{"label":"Low","value":"1.33","className":"is-ohlc","compact":true},{"label":"Close","value":"1.38","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"1.24","note":"Supportive and strengthening","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"1.38","className":"is-ohlc","compact":true},{"label":"High","value":"1.38","className":"is-ohlc","compact":true},{"label":"Low","value":"1.34","className":"is-ohlc","compact":true},{"label":"Close","value":"1.38","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"1.32","note":"Supportive and strengthening","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}]],"pressureRange":[-2.3,2.3],"priceRange":[1.2263,1.3887],"zones":{"accumulationBoundary":-1.5,"accumulationDarkBoundary":-2.0,"distributionBoundary":1.5,"distributionDarkBoundary":2.0},"latest":1.319482,"state":"Positive and strengthening","context":{"scenario":"positiveSustained","latestDirection":"strengthening","fourWeekDirection":"strengthening","now":{"label":"Stronger this week","detail":"Market Dynamics strengthened this week and remains positive."},"fourWeek":{"label":"Strengthened over four weeks","detail":"Underlying support has strengthened across the recent completed path."},"price":{"label":"Price and Market Dynamics are broadly aligned","detail":"The current price response is broadly consistent with the underlying Market Dynamics path."}},"diagnosis":{"label":"Extended but supported","detail":"Price is inside distribution conditions, but Market Dynamics still offers support. Extension can persist; a rollover has not been confirmed.","tone":"caution"},"chartSummary":"Price is in the distribution zone. The Market Dynamics bars show whether underlying support is keeping pace with that elevated price.","summary":"Price is inside distribution conditions, but Market Dynamics still offers support. Extension can persist; a rollover has not been confirmed.","annotations":[{"label":"Current tape relationship","value":"Extended but supported","detail":"Market Dynamics strengthened this week and remains positive.","tone":"caution"},{"label":"Price location","value":"Distribution zone","detail":"Price is extended; support can persist, but rollover risk must be monitored.","tone":"caution"},{"label":"Latest positioning marker","value":"31 Jul 2026","detail":"The green dot marks a confirmed recovery where institutional positioning is most plausible.","tone":"positive"},{"label":"Market Dynamics confirmation","value":"Supported","detail":"Underlying support has strengthened across the recent completed path.","tone":"positive"}],"relationshipEvidence":{"available":false,"observations":24,"summary":"More completed weekly history is needed for a dependable ticker-level record."},"events":{"positioning_recoveries":[{"date":"2026-07-31","price":1.28}],"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","2026-02-20","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":[1.485,1.485,1.48,1.465,1.465,1.46,1.46,1.3,1.31,1.265,1.3,1.2925,1.25,1.14,1.15,1.135,1.135,1.135,1.26,1.22,1.22,1.22,1.22,1.21,1.255,1.2374,1.2571,1.2374,1.25,1.305,1.27,1.235,1.28,1.335,1.375,1.38],"consensus":[70.4797,0.0,-100.0,-100.0,-41.0912,-44.6479,-26.9221,-86.4064,-54.5496,-82.4346,-11.3722,-54.9658,-88.3371,-94.3554,-27.1276,-46.9481,-44.1895,-35.5804,52.8938,-36.9417,0.0,0.0,-15.7655,-14.2426,41.8758,0.0,37.6615,0.0,19.7292,56.2356,9.2222,-39.7004,63.9459,78.2769,84.0772,60.7415],"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","2026-02-20","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,-48.4864,-19.8673,-75.3454,-61.9823,-90.9748,-13.1038,-66.0496,-88.7494,-95.0713,-7.1901,-20.0816,-37.6158,-37.1116,48.3973,-49.7257,0.0,0.0,-12.6131,-3.6088,40.206,0.0,32.9091,0.0,22.3361,54.2693,0.0004,-46.4486,56.8907,79.5406,85.3892,61.1009],"force":[70.4797,0.0,-100.0,-100.0,-12.6981,-28.3922,-7.9573,-99.998,-0.8725,-61.4936,-47.0692,-29.2738,-95.1868,-99.7977,-25.3135,-35.2396,-10.419,-1.6721,91.3574,-71.6058,0.0,0.0,-9.0505,-24.4412,36.0136,0.0,27.1026,0.0,11.3908,39.3474,20.9691,-77.1206,93.6756,94.7512,94.0553,39.9259],"direction":[null,null,null,null,-61.3721,-51.8724,-48.531,-89.3393,-85.6424,-87.6323,-81.0887,-60.6501,-82.9734,-89.6498,-87.3712,-86.0159,-75.824,-58.0505,30.5587,-2.4287,0.0,0.0,-24.1647,-19.1109,47.9714,0.0,50.6348,0.0,22.7058,70.5459,41.3264,-5.2594,50.7736,65.0654,75.4507,75.1992],"intensity":[null,null,null,null,100.0,40.0,50.0,100.0,87.5,77.7778,70.0,54.5455,75.0,84.6154,78.5714,60.0,50.0,5.8824,94.4444,73.6842,60.0,9.5238,13.6364,34.7826,75.0,36.0,38.4615,40.7407,25.0,79.3103,56.6667,58.0645,71.875,81.8182,82.3529,20.0],"confirmation":[45.2202,0.0,54.6667,54.6667,57.1846,81.7334,53.4779,96.2328,61.173,93.6107,37.7346,84.6372,96.4703,98.3487,12.7866,83.076,81.2116,55.6623,86.1668,58.5344,3.326,26.2691,72.8884,50.3638,81.247,4.7341,79.8023,28.136,74.0195,85.5107,6.6449,59.0751,89.4763,93.5314,95.1888,94.7974],"persistence":[null,null,0.0,25.0,40.0,50.0,57.1429,62.5,87.5,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,75.0,75.0,62.5,50.0,50.0,50.0,25.0,12.5,12.5,0.0,12.5,25.0,50.0,50.0,50.0,62.5,62.5,75.0],"assessmentRisk":[null,null,null,null,29.309,27.6652,36.4835,6.5561,22.4498,8.7409,44.1305,19.8175,1.3825,2.073,36.1375,26.3087,26.7394,12.9791,20.191,61.4886,46.9737,46.1897,25.291,2.9787,8.9532,15.1331,18.4216,29.1316,16.2707,18.441,10.1518,15.6933,7.1321,2.0807,7.8083,19.6167],"volumeParticipation":true,"latest":{"consensus":60.7,"control":61.1,"force":39.9,"direction":75.2,"confirmation":94.8,"persistence":75.0,"assessmentRisk":19.6,"intensity":20.0,"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 strengthening","forceState":"Upward commitment","forcePath":"Commitment is easing","directionState":"Upward follow-through","persistenceState":"Established","confirmationState":"Strong support","riskState":"Contained","intensityState":"Quiet"},"cards":[{"label":"SM Consensus Gauge","value":"+60.7","detail":"Joint upward confirmation","tone":"positive"},{"label":"SM Control Gauge","value":"+61.1","detail":"Buyer control supports the view","tone":"positive"},{"label":"SM Force Gauge","value":"+39.9","detail":"Upward commitment","tone":"positive"},{"label":"SM Direction Gauge","value":"+75.2","detail":"Upward follow-through","tone":"positive"},{"label":"SM Confirmation Gauge","value":"95/100","detail":"Strong support","tone":"positive"}]},"kpis":[{"label":"Price structure","value":"Aligned upward","detail":"completed-week alignment","tone":"positive"},{"label":"Momentum","value":"62.0","detail":"Positive","tone":"positive"},{"label":"Risk pressure","value":"2.4%","detail":"Contained","tone":"neutral"},{"label":"Trend quality","value":"38.4","detail":"Directional","tone":"positive"},{"label":"Range position","value":"100%","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":[1.485,1.485,1.48,1.465,1.465,1.46,1.46,1.3,1.31,1.265,1.3,1.2925,1.25,1.14,1.15,1.135,1.135,1.135,1.26,1.22,1.22,1.22,1.22,1.21,1.255,1.2374,1.2571,1.2374,1.25,1.305,1.27,1.235,1.28,1.335,1.375,1.38],"stroke":"#10243b","width":2.1},{"label":"Fast trend","values":[null,null,null,null,1.4778,1.4745,1.4719,1.4406,1.4169,1.3893,1.373,1.3584,1.3387,1.3026,1.2748,1.2494,1.2286,1.2116,1.2204,1.2203,1.2203,1.2202,1.2202,1.2183,1.225,1.2272,1.2327,1.2335,1.2365,1.249,1.2528,1.2496,1.2551,1.2696,1.2888,1.3054],"stroke":"#176fa3","width":1.7},{"label":"Slow trend","values":[null,null,null,null,null,null,null,null,null,null,null,null,1.4069,1.3871,1.3696,1.3522,1.3361,1.3212,1.3167,1.3095,1.3029,1.2967,1.2911,1.285,1.2828,1.2795,1.2778,1.2748,1.273,1.2753,1.2749,1.272,1.2726,1.2772,1.2844,1.2915],"stroke":"#07865c","width":1.8},{"label":"Upper 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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,49.4764,130.344,0.8807,0.6197,0.6756,760.0284,322.1978,37.0385,457.3972,0.0,0.0,18.4325,61.5322,10.4761,0.0,0.0,608.3299,0.4257,0.0,0.0,0.0,0.0,0.0,0.0,740.3654,476.0457,429.5496,786.0617,768.7029],"stroke":"#1678a7","width":1.8},{"label":"Cumulative balance","values":[null,null,null,null,null,null,null,65.0,70.9275,70.8914,70.9145,70.8914,65.0,65.0,65.9768,65.0,65.0,65.0,65.3809,65.0,65.0,65.0,65.0,65.0,65.0073,65.0073,65.0073,65.0073,65.0073,65.0073,65.0073,65.0,73.7204,82.985,110.7201,135.0],"stroke":"#07865c","width":1.7}],"guides":[{"label":"Typical 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