{"schema_version":"1.0","name":"WDAF Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"69f8ad62-a023-439b-95d2-41ba9a9fc10e","symbol":"WDAF","name":"WT Asia Defence UCITS ETF","exchange":"EBS","country":"CH","asset_type":"etf","currency":"USD","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, Completed returns and cumulative progression, Range expansion and closing direction, Activity pressure and cumulative balance, Drawdown and recovery pressure, 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":21,"displayedObservations":21,"assetType":"ETF","state":"Rotational","stateTone":"caution","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 risk.","tone":"neutral","conflict":false},"marketDynamics":{"available":true,"readAvailable":false,"dates":["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":[0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0],"opens":[22.9715,24.174999,25.975,26.85,26.58,26.225,26.365,24.129999,25.49,22.969999,22.59,24.32,22.049999,22.73,21.875,21.299999,20.705,21.105,20.125,22.395,23.309999],"highs":[24.040001,25.975,27.27,26.85,26.58,27.32,26.365,24.129999,25.495001,22.969999,22.59,24.32,22.049999,22.73,21.875,21.299999,21.105,21.105,22.135,23.09,23.309999],"lows":[22.9715,24.174999,25.969999,26.58,26.174999,26.225,24.129999,23.195,25.15,22.969999,22.59,24.32,22.049999,22.73,21.875,21.299999,20.705,19.927999,20.125,22.395,22.805],"closes":[24.040001,25.975,27.27,26.58,26.174999,26.365,24.129999,23.959999,25.15,22.969999,22.59,24.32,22.049999,22.73,21.875,21.299999,21.105,20.030001,22.135,23.049999,22.805],"hoverRows":[[{"label":"Open","value":"23.0","className":"is-ohlc","compact":true},{"label":"High","value":"24.0","className":"is-ohlc","compact":true},{"label":"Low","value":"23.0","className":"is-ohlc","compact":true},{"label":"Close","value":"24.0","className":"is-ohlc","compact":true},{"label":"Market 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Dynamics","value":"Unavailable","note":"Insufficient completed history","className":"is-muted","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"21.1","className":"is-ohlc","compact":true},{"label":"High","value":"21.1","className":"is-ohlc","compact":true},{"label":"Low","value":"19.9","className":"is-ohlc","compact":true},{"label":"Close","value":"20.0","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"Unavailable","note":"Insufficient completed history","className":"is-muted","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"20.1","className":"is-ohlc","compact":true},{"label":"High","value":"22.1","className":"is-ohlc","compact":true},{"label":"Low","value":"20.1","className":"is-ohlc","compact":true},{"label":"Close","value":"22.1","className":"is-ohlc","compact":true},{"label":"Market 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Dynamics","value":"Unavailable","note":"Insufficient completed history","className":"is-muted","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}]],"pressureRange":[-2.3,2.3],"priceRange":[19.595601,27.7044],"zones":{"accumulationBoundary":-1.5,"accumulationDarkBoundary":-2.0,"distributionBoundary":1.5,"distributionDarkBoundary":2.0},"state":"Insufficient history","context":{"scenario":"developing","latestDirection":"steady","fourWeekDirection":"steady","now":{"label":"Little changed this week","detail":"Market Dynamics remains positive and was little changed this week."},"fourWeek":{"label":"Broadly steady over four weeks","detail":"The broader path has not changed enough to establish a new direction."},"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":"Zone progression","detail":"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.","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 remains positive and was little changed this week.","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 read.","tone":"neutral"}],"relationshipEvidence":{"available":false,"observations":21,"summary":"More completed weekly history is needed for a dependable ticker-level record."},"events":{"positioning_recoveries":[],"reversal_warnings":[{"date":"2026-04-10","price":25.975}],"reversal_dangers":[{"date":"2026-04-17","price":27.27}]}},"smTape":{"available":true,"dates":["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":[24.04,25.975,27.27,26.58,26.175,26.365,24.13,23.96,25.15,22.97,22.59,24.32,22.05,22.73,21.875,21.3,21.105,20.03,22.135,23.05,22.805],"consensus":[100.0,100.0,100.0,-100.0,42.2981,22.0551,-57.4793,-30.6795,0.0,-54.4633,-43.6368,16.0308,-55.4483,-15.6277,-43.2954,-48.2089,-25.1777,-66.4218,32.4995,48.8404,0.0],"supportDates":["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,15.7949,-55.8057,-16.6038,0.0,-50.6884,-37.8891,17.3258,-51.799,-12.9828,-43.1735,-41.7844,-9.7621,-75.7261,34.6169,44.8898,0.0],"force":[100.0,100.0,100.0,-100.0,14.6348,0.7298,-56.4694,-12.0593,0.0,-39.0601,-18.5471,30.1196,-38.9624,-13.1532,-23.9453,-24.1608,-8.914,-52.6263,89.5342,82.9401,0.0],"direction":[null,null,null,null,82.9646,44.442,-60.1133,-60.0661,0.0,-69.7796,-68.1267,4.4875,-71.3946,-39.2081,-57.2563,-72.7283,-54.4126,-65.6422,10.6596,28.9984,0.0],"intensity":[null,null,null,null,25.0,60.0,100.0,100.0,75.0,100.0,10.0,45.4545,91.6667,23.0769,42.8571,20.0,25.0,52.9412,77.7778,89.4737,15.0],"confirmation":[54.6667,54.6667,54.6667,54.6667,15.6159,51.8364,86.3881,77.4644,3.6542,85.0163,81.2867,50.8728,85.2966,29.6367,81.2667,82.7918,75.7961,88.6928,37.0465,84.7284,29.6685],"persistence":[null,null,100.0,50.0,60.0,66.6667,42.8571,25.0,12.5,12.5,37.5,12.5,37.5,62.5,62.5,62.5,75.0,75.0,50.0,50.0,37.5],"assessmentRisk":[null,null,null,null,26.7661,7.513,20.2837,33.1195,33.8387,22.0415,19.4497,4.8966,20.9026,0.6051,3.4886,25.2288,20.1303,15.6096,7.0295,19.0868,45.6396],"volumeParticipation":true,"latest":{"consensus":0.0,"control":0.0,"force":0.0,"direction":0.0,"confirmation":29.7,"persistence":37.5,"assessmentRisk":45.6,"intensity":15.0,"evidenceDepth":81},"analysis":{"status":"No directional advantage","headline":"The gauges do not support either side","summary":"Control, force and direction are too balanced to support an upward or downward assessment.","take":"Current assessment: wait for a clearer directional advantage.","tone":"neutral","supportedView":"Neither side","direction":"balanced","disagreement":false},"support":{"window":"Latest 12 months","controlState":"Control support is limited","controlPath":"Broadly stable","forceState":"Commitment is limited","forcePath":"Broadly stable","directionState":"Follow-through is limited","persistenceState":"Unsettled","confirmationState":"Limited support","riskState":"Present","intensityState":"Quiet"},"cards":[{"label":"SM Consensus Gauge","value":"+0.0","detail":"No directional advantage","tone":"neutral"},{"label":"SM Control Gauge","value":"+0.0","detail":"Control support is limited","tone":"neutral"},{"label":"SM Force Gauge","value":"+0.0","detail":"Commitment is limited","tone":"neutral"},{"label":"SM Direction Gauge","value":"+0.0","detail":"Follow-through is limited","tone":"neutral"},{"label":"SM Confirmation Gauge","value":"30/100","detail":"Limited support","tone":"caution"}]},"kpis":[{"label":"Price structure","value":"Rotational","detail":"completed-week alignment","tone":"caution"},{"label":"Momentum","value":"66.5","detail":"Positive","tone":"positive"},{"label":"Risk pressure","value":"5.0%","detail":"Contained","tone":"neutral"},{"label":"Trend quality","value":"-","detail":"Developing","tone":"neutral"},{"label":"Range position","value":"39%","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 is rotating 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