{"schema_version":"1.0","name":"MULT Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"63e49a93-4d4a-4990-8738-7e00d5bf67d3","symbol":"MULT","name":"Franklin Multisector Income ETF","exchange":"NASDAQ","country":"US","asset_type":"etf","currency":"USD","sector":null,"industry":null},"summary":"Market Dynamics improved this week but remains below zero. Underlying support has strengthened across the recent completed path. The upward price structure has improving support, but confirmation is not complete.","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, Range pressure and compression, Directional strength and control, Activity pressure and cumulative balance, 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":52,"displayedObservations":52,"assetType":"ETF","state":"Aligned upward","stateTone":"positive","summary":"Market Dynamics improved this week but remains below zero. Underlying support has strengthened across the recent completed path. The upward price structure has improving support, but confirmation is not complete.","evidenceAlignment":{"status":"Repair in progress","headline":"Market Dynamics is improving but remains below zero","summary":"Market Dynamics improved this week but remains below zero. Underlying support has strengthened across the recent completed path. The upward price structure has improving support, but confirmation is not complete.","take":"Continued repair would strengthen the upward case. Renewed weakness would leave price ahead of the underlying position.","tone":"caution","conflict":true},"marketDynamics":{"available":true,"readAvailable":true,"dates":["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"],"values":[0.020747,-0.126005,-0.349641,-0.513051,-0.516923,-0.383586,-0.227336,-0.216224,-0.274981,-0.425168,-0.639781,-0.638281,-0.702994,-0.591435,-0.456735,-0.389197,-0.374076,-0.438209,-0.492101,-0.679772,-0.796506,-0.737671,-0.672677,-0.538595],"opens":[25.049529,24.960762,24.869951,24.7998,24.904327,25.043236,25.142456,25.05436,24.921019,24.990492,24.810655,24.921019,24.982264,24.952481,25.038544,25.020614,25.006225,24.97958,24.904895,24.954685,24.785399,25.11,24.92,24.9753],"highs":[25.049529,25.009858,24.869951,24.953937,25.122612,25.192066,25.172222,25.05436,25.010341,24.990492,24.86147,25.000416,25.002186,25.012147,25.061952,25.091835,25.006225,24.984559,24.974601,24.954685,24.899916,25.11,25.025,25.0448],"lows":[24.891044,24.74941,24.700996,24.7998,24.904327,25.043236,25.11269,24.856693,24.895115,24.782072,24.727486,24.911094,24.922498,24.902576,24.992225,24.985352,24.954685,24.916745,24.875021,24.805315,24.785399,24.86,24.92,24.89],"closes":[24.891044,24.74941,24.720757,24.953937,25.018431,25.192066,25.152378,24.950694,25.010341,24.787035,24.851545,25.000416,24.922498,25.000692,25.051693,25.091835,24.994517,24.944727,24.974601,24.839172,24.835189,25.0071,24.9973,24.965],"hoverRows":[[{"label":"Open","value":"25.0","className":"is-ohlc","compact":true},{"label":"High","value":"25.0","className":"is-ohlc","compact":true},{"label":"Low","value":"24.9","className":"is-ohlc","compact":true},{"label":"Close","value":"24.9","className":"is-ohlc","compact":true},{"label":"Market 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weeks","context":{"scenario":"negativeRepair","latestDirection":"strengthening","fourWeekDirection":"strengthening","now":{"label":"Stronger this week","detail":"Market Dynamics improved this week but remains below zero."},"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":"Underlying pressure is repairing","detail":"Market Dynamics remains below zero, but it has improved across the recent completed path. This is an early repair watch until price confirms it.","tone":"caution"},"chartSummary":"Price is between the outer positioning zones. The Market Dynamics bars show whether underlying support is strengthening or weakening.","summary":"Market Dynamics remains below zero, but it has improved across the recent completed path. This is an early repair watch until price confirms it.","annotations":[{"label":"Current tape relationship","value":"Underlying pressure is repairing","detail":"Market Dynamics improved this week but remains below zero.","tone":"caution"},{"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":"Repairing","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":[],"reversal_warnings":[],"reversal_dangers":[]}},"smTape":{"available":true,"dates":["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":[24.2539,24.5004,24.5488,24.5246,24.4618,24.5274,24.4838,24.5856,24.6209,24.5844,24.5701,24.5409,24.575,24.7211,24.708,24.6738,24.8037,24.8391,24.8429,24.9313,24.902,24.9117,24.9281,24.9951,25.1081,25.1081,25.1326,25.019,24.891,24.7494,24.7208,24.9539,25.0184,25.1921,25.1524,24.9507,25.0103,24.787,24.8515,25.0004,24.9225,25.0007,25.0517,25.0918,24.9945,24.9447,24.9746,24.8392,24.8352,25.0071,24.9973,24.965],"consensus":[-60.0006,78.5715,14.2849,-22.3087,38.2865,41.309,11.1855,57.9413,41.0361,0.0,32.3791,-12.6516,27.1984,75.3526,33.0613,24.6939,65.3337,48.4894,29.9424,69.7568,29.871,49.0889,48.8353,62.1428,79.314,52.2184,55.8354,-18.1098,-54.7458,-67.7153,-54.2143,39.194,42.1764,74.0861,28.9811,-32.6311,24.1418,-67.9593,0.0,43.5566,-34.1635,42.2285,35.2834,39.236,0.0,-26.7349,9.6567,-59.9712,-25.6129,27.6892,14.0951,0.8413],"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,null,null,null,null,50.7721,20.2626,61.708,32.7137,0.0,32.8001,-10.0482,32.4126,71.6807,24.0814,16.8968,75.5393,54.4357,21.7096,73.8543,25.9202,56.9506,56.9825,71.5821,83.316,58.8446,53.1527,-23.6165,-46.8704,-58.1966,-51.1653,52.152,35.1168,78.4231,30.1063,-31.2763,33.4003,-62.8243,0.0,47.6436,-34.5775,34.7084,38.5478,46.7906,0.0,-22.1317,22.432,-52.9771,-18.321,19.5372,18.5762,5.1055],"force":[-60.0006,78.5715,14.2849,-22.3087,8.152,25.8559,5.2093,61.5288,22.3769,0.0,14.9294,-43.9704,37.1926,92.9506,4.9594,4.8912,59.4769,27.9336,5.3367,71.6566,0.6198,33.3754,31.3458,61.138,93.1974,24.6101,48.0159,-81.0715,-95.8254,-96.4011,-50.1223,73.0425,63.6326,94.4132,4.8299,-69.4002,37.3511,-95.8813,0.0,78.1252,-51.8498,76.7624,30.1981,33.8877,0.0,-43.2768,23.8685,-85.6093,-8.0647,54.116,12.0913,7.7309],"direction":[null,null,null,null,71.457,41.5321,12.5223,51.074,63.8755,0.0,44.362,-6.7437,14.1006,66.9791,63.3967,54.737,57.8537,56.3762,56.9269,63.717,56.1654,51.3282,52.0167,52.0727,64.8236,64.3658,64.4869,-33.1564,-34.4037,-58.104,-60.6216,0.2072,34.9186,54.6101,51.8458,-7.9157,4.1255,-53.8837,0.0,14.1938,-21.0573,26.1558,35.1849,34.4223,0.0,-20.1801,15.0951,-49.6514,-46.4809,18.1294,10.4051,13.7606],"intensity":[null,null,null,null,50.0,40.0,33.3333,71.4286,87.5,22.2222,40.0,36.3636,33.3333,76.9231,71.4286,33.3333,75.0,70.5882,11.1111,57.8947,15.0,61.9048,40.9091,52.1739,79.1667,64.0,19.2308,74.0741,82.1429,86.2069,83.3333,96.7742,93.75,93.9394,44.1176,100.0,33.3333,91.8919,68.4211,89.7436,42.5,43.9024,50.0,13.9535,52.2727,20.0,15.2174,74.4681,22.9167,91.8367,46.0,7.8431],"confirmation":[41.8668,47.8096,27.2378,29.8054,12.7374,80.6037,49.386,86.5932,80.6897,7.8978,77.8231,51.8146,76.9286,92.7051,55.1933,53.496,88.5728,82.7995,54.2905,90.3176,54.1552,83.1098,82.9701,87.7112,93.7426,83.7675,85.6699,37.3701,86.8906,90.6882,85.2703,58.7095,82.2579,92.2609,54.5901,56.9165,53.3202,90.6762,30.0711,82.9293,79.465,82.6802,79.086,80.2774,3.2376,77.1295,29.2155,88.0787,75.7724,77.7901,72.3811,18.3626],"persistence":[null,null,33.3333,0.0,20.0,33.3333,42.8571,50.0,75.0,62.5,62.5,62.5,62.5,62.5,62.5,62.5,62.5,75.0,75.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,75.0,50.0,25.0,0.0,0.0,0.0,0.0,0.0,0.0,25.0,25.0,37.5,37.5,12.5,12.5,12.5,37.5,25.0,25.0,37.5,12.5,12.5,12.5,12.5,0.0],"assessmentRisk":[null,null,null,null,27.8889,8.2761,33.2968,1.5234,26.3592,24.0224,21.5372,17.709,39.0228,8.4889,32.4881,36.4448,17.2215,23.4817,33.744,15.1,31.465,17.3159,20.6618,9.2513,10.2624,23.7627,22.0513,27.1282,22.3503,16.1332,22.8908,48.1594,21.841,12.9302,35.4735,15.0049,15.3439,15.8026,45.098,4.874,10.7975,24.6835,27.974,10.8664,28.0696,8.7645,35.7818,18.9671,33.3981,12.0811,5.6012,44.2495],"volumeParticipation":true,"latest":{"consensus":0.8,"control":5.1,"force":7.7,"direction":13.8,"confirmation":18.4,"persistence":0.0,"assessmentRisk":44.2,"intensity":7.8,"evidenceDepth":100},"analysis":{"status":"Price structure has stronger support","headline":"The gauges support the price-technical view","summary":"Price structure and Market Dynamics disagree. The completed evidence gives the upward price structure stronger support.","take":"Current assessment: price structure remains primary, but the disagreement lowers confirmation.","tone":"positive","supportedView":"Price structure","direction":"upward","disagreement":true},"support":{"window":"Latest 12 months","controlState":"Control support is limited","controlPath":"Control support is easing","forceState":"Commitment is limited","forcePath":"Commitment is easing","directionState":"Upward follow-through","persistenceState":"Unsettled","confirmationState":"Limited support","riskState":"Present","intensityState":"Quiet"},"cards":[{"label":"SM Consensus Gauge","value":"+0.8","detail":"Price structure has stronger support","tone":"positive"},{"label":"SM Control Gauge","value":"+5.1","detail":"Control support is limited","tone":"positive"},{"label":"SM Force Gauge","value":"+7.7","detail":"Commitment is limited","tone":"positive"},{"label":"SM Direction Gauge","value":"+13.8","detail":"Upward follow-through","tone":"positive"},{"label":"SM Confirmation Gauge","value":"18/100","detail":"Limited support","tone":"caution"}]},"kpis":[{"label":"Price structure","value":"Aligned upward","detail":"completed-week alignment","tone":"positive"},{"label":"Momentum","value":"55.2","detail":"Positive","tone":"positive"},{"label":"Risk pressure","value":"0.5%","detail":"Elevated","tone":"caution"},{"label":"Trend quality","value":"15.3","detail":"Range-led","tone":"neutral"},{"label":"Range position","value":"54%","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":[24.2539,24.5004,24.5488,24.5246,24.4618,24.5274,24.4838,24.5856,24.6209,24.5844,24.5701,24.5409,24.575,24.7211,24.708,24.6738,24.8037,24.8391,24.8429,24.9313,24.902,24.9117,24.9281,24.9951,25.1081,25.1081,25.1326,25.019,24.891,24.7494,24.7208,24.9539,25.0184,25.1921,25.1524,24.9507,25.0103,24.787,24.8515,25.0004,24.9225,25.0007,25.0517,25.0918,24.9945,24.9447,24.9746,24.8392,24.8352,25.0071,24.9973,24.965],"stroke":"#10243b","width":2.1},{"label":"Fast trend","values":[null,null,null,null,24.3924,24.417,24.4291,24.4576,24.4873,24.5049,24.5168,24.5212,24.5309,24.5655,24.5914,24.6064,24.6423,24.678,24.708,24.7486,24.7765,24.8011,24.8242,24.8553,24.9012,24.9388,24.9741,24.9822,24.9656,24.9263,24.889,24.9008,24.9222,24.9712,25.0042,24.9944,24.9973,24.9591,24.9395,24.9506,24.9455,24.9555,24.973,24.9946,24.9946,24.9855,24.9835,24.9573,24.9351,24.9482,24.9571,24.9585],"stroke":"#176fa3","width":1.7},{"label":"Slow trend","values":[null,null,null,null,null,null,null,null,null,null,null,null,24.4325,24.4538,24.4727,24.4876,24.511,24.5353,24.5581,24.5857,24.6091,24.6316,24.6535,24.6788,24.7106,24.7401,24.7691,24.7876,24.7953,24.7919,24.7866,24.799,24.8153,24.8432,24.8661,24.8724,24.8826,24.8755,24.8737,24.8831,24.886,24.8945,24.9062,24.9199,24.9254,24.9269,24.9304,24.9236,24.9171,24.9238,24.9292,24.9319],"stroke":"#07865c","width":1.8},{"label":"Upper envelope","values":[null,null,null,null,null,null,null,null,null,24.7033,24.7031,24.6978,24.6979,24.7344,24.7576,24.7678,24.807,24.8462,24.8777,24.9236,24.9328,24.967,25.0011,25.0425,25.0968,25.1452,25.1846,25.2034,25.2058,25.1978,25.1871,25.177,25.1713,25.2106,25.2321,25.218,25.2193,25.223,25.2227,25.226,25.2261,25.2295,25.2368,25.2462,25.2345,25.2197,25.2006,25.1962,25.1976,25.193,25.1775,25.1779],"stroke":"#98a9b8","width":1.0,"dash":[6,5]},{"label":"Lower 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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,0.4746,0.4626,0.45,0.453,0.433,0.4147,0.4091,0.3916,0.3944,0.3848,0.3914,0.3953,0.3727,0.3597,0.3679,0.3889,0.4384,0.4563,0.4865,0.5129,0.5222,0.5082,0.5604,0.552,0.583,0.5785,0.5765,0.5598,0.5495,0.5291,0.5208,0.5247,0.5105,0.5019,0.5173,0.5134,0.5519,0.5427,0.5489],"stroke":"#c13f3f","width":1.9},{"label":"Envelope width","values":[null,null,null,null,null,null,null,null,null,1.5842,1.5369,1.4761,1.4402,1.6208,1.7148,1.7333,1.9317,2.128,2.2727,2.5083,2.3171,2.4258,2.5464,2.6884,2.8628,3.0156,3.068,3.0421,2.9508,2.819,2.6718,2.422,2.1964,2.3203,2.3124,2.0874,2.0145,2.065,2.0587,2.0577,2.0503,2.0409,2.0498,2.0856,2.0377,1.9857,1.8968,1.934,1.9674,1.8264,1.5911,1.5893],"stroke":"#b87806","width":1.7}],"guides":[],"dates":["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":"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,46.3307,45.67,43.3646,40.6939,38.6113,35.8845,34.5608,33.7616,33.0194,31.0835,29.2859,28.3451,27.7912,26.1777,24.6664,23.4037,21.827,20.4121,19.0667,18.1326,17.6039,17.6433,17.8258,17.0062,16.2451,15.2703],"stroke":"#10243b","width":2.0},{"label":"Positive 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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,4.1822,3.6244,1.858,1.2229,14.9818,76.4249,32.9795,4.0541,5.0667,2.561,0.6107,3.3898,10.0918,4.1658,24.8633,25.3299,37.037,172.5722,16.4035,122.0308,56.2744,82.7456,150.4181,70.3984,44.0911,139.2533,114.1839,111.9124,130.6577,66.5335,223.5986,1.888,140.6286,96.5446,443.6452,1.5261,14.8403,47.4455,160.9687,57.7835,155.9827,159.1473,104.7486,22.0756,92.7012],"stroke":"#1678a7","width":1.8},{"label":"Cumulative 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Market Dynamics construction and private inputs are not disclosed. Historical research is not a forecast or instruction to trade."}