{"schema_version":"1.0","name":"SDHB Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"85a13eb9-6d56-4e3b-8182-a06f715be1d0","symbol":"SDHB","name":"ISHARES IV PLC IS $ SHT DUR H Y","exchange":"LSE","country":"GB","asset_type":"etf","currency":"GBP","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, Range pressure and compression, Directional strength and control, Directional pressure and rotation."},{"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":55,"displayedObservations":55,"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. 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cautious, Market Dynamics positive","kind":"disagreement","expectedDirection":"higher","episodes":0,"completedEpisodes":0,"activeEpisodes":0,"horizons":[{"weeks":4,"sample":0,"expectedCount":0,"confidence":"Not enough evidence"},{"weeks":12,"sample":0,"expectedCount":0,"confidence":"Not enough evidence"},{"weeks":26,"sample":0,"expectedCount":0,"confidence":"Not enough evidence"}],"path":[{"week":0,"sample":0},{"week":1,"sample":0},{"week":2,"sample":0},{"week":3,"sample":0},{"week":4,"sample":0},{"week":5,"sample":0},{"week":6,"sample":0},{"week":7,"sample":0},{"week":8,"sample":0},{"week":9,"sample":0},{"week":10,"sample":0},{"week":11,"sample":0},{"week":12,"sample":0},{"week":13,"sample":0},{"week":14,"sample":0},{"week":15,"sample":0},{"week":16,"sample":0},{"week":17,"sample":0},{"week":18,"sample":0},{"week":19,"sample":0},{"week":20,"sample":0},{"week":21,"sample":0},{"week":22,"sample":0},{"week":23,"sample":0},{"week":24,"sample":0},{"week":25,"sample":0},{"week":26,"sample":0}]}},"pricePressureGap":{"label":"Price elevated relative to Market Dynamics","kind":"structuralDivergence","expectedDirection":"lower","episodes":0,"completedEpisodes":0,"activeEpisodes":0,"horizons":[{"weeks":4,"sample":0,"expectedCount":0,"confidence":"Not enough evidence"},{"weeks":12,"sample":0,"expectedCount":0,"confidence":"Not enough evidence"},{"weeks":26,"sample":0,"expectedCount":0,"confidence":"Not enough evidence"}],"path":[{"week":0,"sample":0},{"week":1,"sample":0},{"week":2,"sample":0},{"week":3,"sample":0},{"week":4,"sample":0},{"week":5,"sample":0},{"week":6,"sample":0},{"week":7,"sample":0},{"week":8,"sample":0},{"week":9,"sample":0},{"week":10,"sample":0},{"week":11,"sample":0},{"week":12,"sample":0},{"week":13,"sample":0},{"week":14,"sample":0},{"week":15,"sample":0},{"week":16,"sample":0},{"week":17,"sample":0},{"week":18,"sample":0},{"week":19,"sample":0},{"week":20,"sample":0},{"week":21,"sample":0},{"week":22,"sample":0},{"week":23,"sample":0},{"week":24,"sample":0},{"week":25,"sample":0},{"week":26,"sample":0}]},"currentApplication":{"status":"Evidence aligned","tone":"positive","headline":"Price and Market Dynamics remain aligned upward","use":"The advance retains underlying support while price structure and Market Dynamics remain intact.","confirm":"The advance remains supported. Reclassify it only if the broader Market Dynamics path weakens or price structure breaks.","invalidate":"Reassess the reading when either price structure or the Market Dynamics state changes materially.","level":"positive","direction":"strengthening","zone":"middle","zoneContext":"Market Dynamics remains positive and has strengthened across the recent completed path. A slight weekly pause does not yet change the broader constructive reading.","historical":{"label":"Broad directional cases","weeks":12,"direction":"higher","percent":0.0,"averageReturn":-0.4,"sample":1},"nowContext":{"label":"Stronger this week","detail":"Market Dynamics strengthened this week and remains positive."},"fourWeekContext":{"label":"Strengthened over four weeks","detail":"Underlying support has strengthened across the recent completed path."},"priceContext":{"label":"Price structure is upward","detail":"Price is responding in the same broad direction as Market Dynamics."}},"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":"Trend participation","title":"Let confirmation support the position, then manage extension","tone":"positive","approach":"This is most useful for holding or selectively adding to an established upward case. Risk should still tighten as price becomes extended; confirmation is support, not immunity from reversal.","finding":"In this ticker's completed record, 0.0% of comparable cases moved higher after 12 weeks, with an average move of -0.4% across 1 cases.","watch":"Reassess the reading when either price structure or the Market Dynamics state changes materially."},{"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 1.0% across 1 completed cases, with the largest move arriving after 6.0 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":[],"reversal_warnings":[],"reversal_dangers":[]}},"smTape":{"available":true,"dates":["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":[4.8199,4.8309,4.8463,4.8747,4.8973,4.9055,4.9136,4.9026,4.918,4.8858,4.904,4.9225,4.9194,4.9088,4.9204,4.9079,4.9478,4.9531,4.9521,4.9654,4.9678,4.9732,4.9939,4.9963,5.0012,4.9939,5.0003,5.0091,5.014,5.0096,4.9772,4.9452,4.9447,4.925,4.9845,5.016,5.0365,4.9493,4.9596,4.9581,4.935,5.0355,5.0535,4.9576,4.9768,4.9817,4.9822,4.9932,4.988,4.992,4.9672,4.9722,5.0085,5.014,5.015],"consensus":[64.6929,27.7759,100.0,61.5406,98.5795,64.9031,67.5456,18.6676,62.3752,-30.3128,46.0751,68.0937,8.8456,0.0,48.3613,-21.2295,71.384,51.3999,34.6632,64.6461,51.8224,37.6048,66.0907,45.7571,54.3101,16.1645,31.2544,43.8756,38.4503,18.8087,-43.9515,-60.1551,-37.2874,-58.052,46.2328,50.4838,59.6285,-36.7367,0.0,-18.2756,-53.7546,68.4773,57.5554,-42.1073,0.0,0.0,0.0,16.6064,0.0,14.933,-39.9712,-12.476,54.1814,33.9273,34.1987],"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,56.8424,60.7787,0.5765,63.0658,-22.0947,48.5455,59.4075,2.7284,0.0,32.9173,-11.9813,72.5936,54.5682,33.1836,62.1019,59.4037,34.7494,68.4241,45.5571,56.2949,14.1738,31.6838,47.0349,35.7472,16.529,-37.3621,-54.1003,-29.095,-47.564,48.0279,50.111,65.526,-43.0533,0.0,-7.1487,-56.0246,75.2201,67.1766,-59.5302,0.0,0.0,0.0,10.4013,0.0,18.8314,-42.6962,-11.6914,54.5342,33.1027,34.4667],"force":[61.5406,96.6176,46.7138,50.9326,37.1236,35.6717,-94.1406,63.8512,75.77,36.7752,0.0,59.7107,-70.7028,93.2645,37.9775,9.9025,76.0636,36.6161,18.6664,66.8653,25.1912,43.9496,28.8825,16.4666,33.3229,29.9577,13.9185,-77.4681,-73.3493,-23.6482,-68.8263,89.0562,57.1897,59.735,-56.7894,0.0,-8.7412,-52.2775,83.2612,44.9558,-44.0443,0.0,0.0,0.0,19.2349,0.0,14.1913,-52.734,-3.8973,85.1964,33.6152,24.5976],"direction":[null,99.9809,87.1078,87.1457,80.5118,80.66,-5.8865,30.5546,72.5378,48.4231,0.0,57.9049,-3.5391,54.3726,57.3663,54.0403,59.3985,54.0198,54.3957,62.8707,60.6757,59.442,50.6161,41.3264,47.8026,47.6057,44.7906,-27.5418,-57.6503,-56.3924,-62.3424,13.5932,46.1198,52.8125,-15.1944,0.0,-37.8024,-52.2153,50.2114,55.5595,-20.8117,0.0,0.0,0.0,21.8205,0.0,11.0074,-27.7406,-25.0679,31.6246,35.0926,40.7503],"intensity":[null,75.0,80.0,16.6667,14.2857,37.5,88.8889,60.0,72.7273,8.3333,69.2308,28.5714,33.3333,100.0,58.8235,5.5556,26.3158,5.0,52.381,68.1818,13.0435,41.6667,64.0,15.3846,14.8148,14.2857,6.8966,96.6667,83.871,43.75,81.8182,100.0,100.0,63.8889,100.0,23.6842,12.8205,70.0,100.0,88.0952,97.6744,54.5455,4.4444,10.8696,40.4255,6.25,2.0408,72.0,7.8431,88.4615,51.9231,3.8462],"confirmation":[42.3597,76.7891,88.3375,89.2114,12.6093,87.1357,58.3597,83.2481,90.1563,9.3788,11.9429,84.0568,54.5305,91.4913,83.9906,78.3602,89.0735,84.0042,79.4999,89.1371,82.0186,85.0332,32.6584,77.5442,81.6704,80.0865,30.6921,83.1863,87.744,79.6411,87.0648,84.0722,84.3649,86.9945,80.2706,6.5349,51.0605,85.1219,90.2605,85.8871,81.2679,48.1859,3.7636,26.2471,73.4887,1.9423,72.6965,81.1382,49.67,86.2779,78.8598,86.6469],"persistence":[100.0,100.0,100.0,100.0,100.0,100.0,75.0,75.0,75.0,75.0,62.5,62.5,37.5,37.5,62.5,62.5,62.5,62.5,75.0,75.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,75.0,50.0,25.0,0.0,0.0,0.0,0.0,25.0,12.5,12.5,12.5,12.5,12.5,12.5,25.0,12.5,12.5,12.5,25.0,25.0,0.0,0.0,12.5,25.0,37.5],"assessmentRisk":[null,0.7103,17.5484,16.2272,39.8331,16.5498,25.4524,48.8614,7.9537,0.0804,42.354,14.1354,24.5428,10.0651,23.6602,30.0445,17.526,15.2445,22.7469,16.7294,26.1223,22.2467,37.5747,7.922,16.6998,21.5777,39.5556,25.8954,19.9017,31.349,20.9725,7.4555,24.5143,20.1368,49.0044,29.8586,37.6156,22.8546,13.7281,19.7509,20.5751,30.628,38.2647,40.8337,23.2831,12.0391,3.3488,2.301,17.5836,4.2555,7.639,28.7522],"volumeParticipation":true,"latest":{"consensus":34.2,"control":34.5,"force":24.6,"direction":40.8,"confirmation":86.6,"persistence":37.5,"assessmentRisk":28.8,"intensity":3.8,"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":"Broadly stable","forceState":"Upward commitment","forcePath":"Commitment is easing","directionState":"Upward follow-through","persistenceState":"Unsettled","confirmationState":"Strong support","riskState":"Contained","intensityState":"Quiet"},"cards":[{"label":"SM Consensus Gauge","value":"+34.2","detail":"Joint upward confirmation","tone":"positive"},{"label":"SM Control Gauge","value":"+34.5","detail":"Buyer control supports the view","tone":"positive"},{"label":"SM Force Gauge","value":"+24.6","detail":"Upward commitment","tone":"positive"},{"label":"SM Direction Gauge","value":"+40.8","detail":"Upward 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upward.","series":[{"label":"Close","values":[4.8199,4.8309,4.8463,4.8747,4.8973,4.9055,4.9136,4.9026,4.918,4.8858,4.904,4.9225,4.9194,4.9088,4.9204,4.9079,4.9478,4.9531,4.9521,4.9654,4.9678,4.9732,4.9939,4.9963,5.0012,4.9939,5.0003,5.0091,5.014,5.0096,4.9772,4.9452,4.9447,4.925,4.9845,5.016,5.0365,4.9493,4.9596,4.9581,4.935,5.0355,5.0535,4.9576,4.9768,4.9817,4.9822,4.9932,4.988,4.992,4.9672,4.9722,5.0085,5.014,5.015],"stroke":"#10243b","width":2.1},{"label":"Fast trend","values":[null,null,null,null,4.8464,4.8572,4.8674,4.8738,4.8818,4.8826,4.8865,4.893,4.8978,4.8998,4.9036,4.9043,4.9122,4.9197,4.9256,4.9328,4.9392,4.9454,4.9542,4.9618,4.969,4.9735,4.9784,4.984,4.9894,4.9931,4.9902,4.982,4.9752,4.9661,4.9695,4.9779,4.9886,4.9814,4.9775,4.9739,4.9669,4.9793,4.9928,4.9864,4.9847,4.9841,4.9838,4.9855,4.986,4.9871,4.9835,4.9814,4.9863,4.9914,4.9957],"stroke":"#176fa3","width":1.7},{"label":"Slow 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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,0.0,853.5784,317.8417,102.9959,58.16,38.6193,106.4476,115.9511,77.0312,61.5872,57.9323,44.6324,194.1389,184.1061,29.7963,56.1527,57.2355,77.3827,120.9027,48.6964,64.3444,214.1359,116.9872,93.1322,68.1537,39.7181,130.4255,158.0934,64.1041,61.472,167.3665,128.5218,588.086,33.8005,59.3956,32.3554,4.1754,8.343,27.5627,54.672,44.0971,24.6029,1.9448,42.0087,319.3562,156.2589,142.9399,94.5488],"stroke":"#1678a7","width":1.8},{"label":"Cumulative 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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,86.9162,92.372,63.983,80.085,93.2808,83.3332,75.0378,84.0876,74.2834,97.0874,97.3242,94.2623,98.5982,100.1911,94.2123,97.1557,95.391,97.9514,94.1111,93.0037,97.3766,95.3621,92.2021,67.9834,45.0576,44.7355,30.5683,73.2494,87.6652,100.2078,39.7874,46.9402,44.74,28.384,99.4544,100.3446,34.266,47.4838,50.8959,51.2405,58.8215,55.2033,57.96,40.9028,44.3487,69.3315,73.122,73.8112],"stroke":"#10243b","width":2.0},{"label":"From 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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,0.3811,0.4018,0.4184,0.4488,0.4506,0.4495,0.4396,0.4241,0.4154,0.4213,0.4216,0.4413,0.4343,0.4339,0.4227,0.4148,0.4029,0.4449,0.4924,0.5258,0.5753,0.6187,0.6425,0.6519,0.7522,0.7393,0.7173,0.7108,0.7887,0.7552,0.853,0.8231,0.785,0.7391,0.7086,0.6745,0.6354,0.6364,0.6248,0.6311,0.6181,0.6001],"stroke":"#c13f3f","width":1.9},{"label":"Envelope 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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,29.8148,30.7008,31.7932,32.6609,30.8527,29.2658,28.15,28.2175,27.1542,26.0327,25.0358,24.1818,23.0937,22.0834,21.4686,21.1968,21.344,20.2651,19.053,17.8016,16.6396,15.7288,14.7386,13.8192,13.4289,13.0665,12.2859,11.8913,11.5249],"stroke":"#10243b","width":2.0},{"label":"Positive 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