{"schema_version":"1.0","name":"IGNC Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"81466bf7-b51c-43ed-8d43-03e690167e5a","symbol":"IGNC","name":"iShares U.S. Equity High Income Active UCITS ETF GBP Hedged (Dist)","exchange":"LSE","country":"GB","asset_type":"etf","currency":"GBP","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, Range position and boundary 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":"Aligned upward","stateTone":"positive","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":[4.8825,4.99125,5.129,5.305,5.331,5.4155,5.513,5.517,5.604,5.576,5.488,5.574,5.502,5.5975,5.6235,5.453,5.4735,5.4365,5.5585,5.6655,5.691],"highs":[5.00475,5.142,5.333,5.3245,5.402,5.501,5.581,5.586,5.62,5.587,5.556,5.574,5.502,5.5975,5.6235,5.474,5.498,5.456,5.679,5.714,5.691],"lows":[4.8825,4.99125,5.129,5.2865,5.3195,5.4155,5.475,5.47,5.581,5.569,5.488,5.574,5.502,5.5975,5.6235,5.432,5.412,5.401,5.5585,5.6625,5.6295],"closes":[4.99375,5.1445,5.3195,5.324,5.402,5.4935,5.5065,5.5805,5.623,5.569,5.556,5.574,5.502,5.5975,5.6235,5.464,5.4565,5.4555,5.6655,5.69,5.6295],"hoverRows":[[{"label":"Open","value":"4.88","className":"is-ohlc","compact":true},{"label":"High","value":"5.00","className":"is-ohlc","compact":true},{"label":"Low","value":"4.88","className":"is-ohlc","compact":true},{"label":"Close","value":"4.99","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":"5.44","className":"is-ohlc","compact":true},{"label":"High","value":"5.46","className":"is-ohlc","compact":true},{"label":"Low","value":"5.40","className":"is-ohlc","compact":true},{"label":"Close","value":"5.46","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":"5.56","className":"is-ohlc","compact":true},{"label":"High","value":"5.68","className":"is-ohlc","compact":true},{"label":"Low","value":"5.56","className":"is-ohlc","compact":true},{"label":"Close","value":"5.67","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":[4.951975,5.731775],"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":"2026-04-17","price":5.3195}],"reversal_dangers":[{"date":"2026-04-24","price":5.324}]}},"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":[4.9938,5.1445,5.3195,5.324,5.402,5.4935,5.5065,5.5805,5.623,5.569,5.556,5.574,5.502,5.5975,5.6235,5.464,5.4565,5.4555,5.6655,5.69,5.6295],"consensus":[82.0041,100.0,86.7647,97.3684,74.8608,67.9506,39.1213,70.9856,63.9983,15.8454,46.0393,30.2336,0.0,43.1561,40.1014,-31.1553,-13.6125,0.0,64.3349,40.0516,2.5597],"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,74.0439,27.3348,72.1618,67.0956,0.088,53.8667,34.835,0.0,46.7815,37.0279,-14.5563,-8.1706,0.0,72.9062,40.6725,14.2623],"force":[82.0041,100.0,86.7647,97.3684,41.9456,42.2054,6.5436,58.408,38.4635,26.752,19.1696,4.7485,0.0,25.8484,14.8273,-63.0796,-14.5121,0.0,86.9569,22.0022,26.198],"direction":[null,null,null,null,98.3717,79.3764,75.8614,78.6253,78.6977,64.2805,56.2865,43.1785,0.0,51.3755,61.6669,-27.3226,-19.1892,0.0,38.3807,52.2343,42.3261],"intensity":[null,null,null,null,25.0,40.0,33.3333,14.2857,62.5,11.1111,50.0,54.5455,16.6667,61.5385,7.1429,100.0,6.25,17.6471,100.0,68.4211,25.0],"confirmation":[48.908,54.6667,50.4314,53.8246,67.7841,88.8667,57.0389,90.3141,87.654,9.7195,81.7944,54.1613,26.9807,81.2272,80.109,79.1956,72.4663,4.7888,89.146,80.257,31.4972],"persistence":[null,null,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,87.5,87.5,87.5,62.5,37.5,25.0,25.0,25.0,25.0],"assessmentRisk":[null,null,null,null,12.5691,16.0238,30.1639,14.4907,17.9593,32.3304,7.9479,20.0169,45.5076,2.4439,19.1219,30.2409,21.6505,46.0595,9.2138,29.495,47.0441],"volumeParticipation":true,"latest":{"consensus":2.6,"control":14.3,"force":26.2,"direction":42.3,"confirmation":31.5,"persistence":25.0,"assessmentRisk":47.0,"intensity":25.0,"evidenceDepth":81},"analysis":{"status":"Price structure has the available support","headline":"The gauges support the price-technical view","summary":"Market Dynamics does not provide a directional confirmation. The completed evidence supports the upward price structure.","take":"Current assessment: follow price structure with limited confirmation.","tone":"positive","supportedView":"Price structure","direction":"upward","disagreement":false},"support":{"window":"Latest 12 months","controlState":"Buyer control supports the view","controlPath":"Broadly stable","forceState":"Upward commitment","forcePath":"Commitment is strengthening","directionState":"Upward follow-through","persistenceState":"Unsettled","confirmationState":"Limited support","riskState":"Present","intensityState":"Quiet"},"cards":[{"label":"SM Consensus Gauge","value":"+2.6","detail":"Price structure has the available support","tone":"positive"},{"label":"SM Control Gauge","value":"+14.3","detail":"Buyer control supports the view","tone":"positive"},{"label":"SM Force Gauge","value":"+26.2","detail":"Upward commitment","tone":"positive"},{"label":"SM Direction Gauge","value":"+42.3","detail":"Upward follow-through","tone":"positive"},{"label":"SM Confirmation Gauge","value":"31/100","detail":"Limited support","tone":"caution"}]},"kpis":[{"label":"Price structure","value":"Aligned upward","detail":"completed-week alignment","tone":"positive"},{"label":"Momentum","value":"79.4","detail":"Stretched positive","tone":"positive"},{"label":"Risk pressure","value":"1.7%","detail":"Contained","tone":"neutral"},{"label":"Trend quality","value":"-","detail":"Developing","tone":"neutral"},{"label":"Range position","value":"90%","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 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