{"schema_version":"1.0","name":"FSEV Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"978021cc-3f44-4d07-9be1-171f5eb2ccec","symbol":"FSEV","name":"FIDELITY ENHANCED SMALL CAP VALUE ETF","exchange":"NYSEARCA","country":"US","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, Acceleration, deceleration and rollover, Range pressure and compression, Activity pressure and cumulative balance."},{"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":17,"displayedObservations":17,"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":["2026-05-01","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],"opens":[25.060002,25.74808,25.518721,24.342008,25.598498,25.348496,25.248974,26.279097,26.295,27.37,26.6799,26.505,26.6057,26.94,27.04,27.1,27.47],"highs":[25.269417,25.74808,25.568582,25.320574,25.805121,25.807913,26.236715,26.30652,26.78,27.37,26.68,27.14,26.8913,27.02,27.44,27.97,27.47],"lows":[25.020114,25.035072,24.651144,24.342008,25.548637,25.079847,25.16471,25.737809,26.2355,26.4404,26.2302,26.4607,26.5112,26.66,27.04,27.1,26.9231],"closes":[25.267522,25.452705,24.735907,25.320574,25.57287,25.079847,26.133204,26.1348,26.78,26.4404,26.4885,26.7762,26.6322,26.6803,27.3152,27.5622,27.0908],"hoverRows":[[{"label":"Open","value":"25.1","className":"is-ohlc","compact":true},{"label":"High","value":"25.3","className":"is-ohlc","compact":true},{"label":"Low","value":"25.0","className":"is-ohlc","compact":true},{"label":"Close","value":"25.3","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":"26.5","className":"is-ohlc","compact":true},{"label":"High","value":"27.1","className":"is-ohlc","compact":true},{"label":"Low","value":"26.5","className":"is-ohlc","compact":true},{"label":"Close","value":"26.8","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":"26.6","className":"is-ohlc","compact":true},{"label":"High","value":"26.9","className":"is-ohlc","compact":true},{"label":"Low","value":"26.5","className":"is-ohlc","compact":true},{"label":"Close","value":"26.6","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":"26.9","className":"is-ohlc","compact":true},{"label":"High","value":"27.0","className":"is-ohlc","compact":true},{"label":"Low","value":"26.7","className":"is-ohlc","compact":true},{"label":"Close","value":"26.7","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":"27.0","className":"is-ohlc","compact":true},{"label":"High","value":"27.4","className":"is-ohlc","compact":true},{"label":"Low","value":"27.0","className":"is-ohlc","compact":true},{"label":"Close","value":"27.3","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":"27.1","className":"is-ohlc","compact":true},{"label":"High","value":"28.0","className":"is-ohlc","compact":true},{"label":"Low","value":"27.1","className":"is-ohlc","compact":true},{"label":"Close","value":"27.6","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":"27.5","className":"is-ohlc","compact":true},{"label":"High","value":"27.5","className":"is-ohlc","compact":true},{"label":"Low","value":"26.9","className":"is-ohlc","compact":true},{"label":"Close","value":"27.1","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}]],"pressureRange":[-2.3,2.3],"priceRange":[24.566329,27.731778],"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":17,"summary":"More completed weekly history is needed for a dependable ticker-level record."},"events":{"positioning_recoveries":[],"reversal_warnings":[{"date":"2026-05-08","price":25.452705}],"reversal_dangers":[{"date":"2026-05-15","price":24.735907}]}},"smTape":{"available":true,"dates":["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":[25.2675,25.4527,24.7359,25.3206,25.5729,25.0798,26.1332,26.1348,26.78,26.4404,26.4885,26.7762,26.6322,26.6803,27.3152,27.5622,27.0908],"consensus":[98.4798,17.1468,-81.5218,58.0,42.0208,-40.9632,64.0301,38.375,82.8707,0.0,32.0595,57.1431,10.5816,17.0229,63.8562,55.1277,3.8096],"supportDates":["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,-41.0881,62.3981,29.9211,82.6102,0.0,26.4772,43.7245,12.7563,4.2767,64.4256,50.0082,7.1612],"force":[98.4798,17.1468,-81.5218,58.0,9.337,-45.6667,54.677,10.4732,90.4331,0.0,7.5661,65.4771,19.3285,5.5478,50.5204,39.0727,62.9533],"direction":[null,null,null,null,65.3663,-37.4609,72.5759,67.9666,77.7667,0.0,55.9346,66.5258,29.4607,47.7117,72.7311,72.4466,42.2664],"intensity":[null,null,null,null,100.0,40.0,83.3333,42.8571,62.5,55.5556,70.0,9.0909,8.3333,7.6923,64.2857,40.0,37.5],"confirmation":[54.1802,28.1536,48.7536,41.2267,57.2859,81.2497,88.2294,79.5585,94.7531,37.5464,54.931,86.7443,29.2315,28.8039,88.0189,85.2296,11.9873],"persistence":[null,null,33.3333,50.0,60.0,33.3333,42.8571,50.0,50.0,37.5,62.5,62.5,62.5,87.5,87.5,87.5,75.0],"assessmentRisk":[null,null,null,null,7.0012,11.7017,17.0235,25.6247,7.321,47.5684,13.7051,14.3953,20.1582,15.2816,14.8878,20.2063,40.9072],"volumeParticipation":true,"latest":{"consensus":3.8,"control":7.2,"force":63.0,"direction":42.3,"confirmation":12.0,"persistence":75.0,"assessmentRisk":40.9,"intensity":37.5,"evidenceDepth":65},"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":"Control support is limited","controlPath":"Broadly stable","forceState":"Upward commitment","forcePath":"Commitment is strengthening","directionState":"Upward follow-through","persistenceState":"Established","confirmationState":"Limited support","riskState":"Present","intensityState":"Quiet"},"cards":[{"label":"SM Consensus Gauge","value":"+3.8","detail":"Price structure has the available support","tone":"positive"},{"label":"SM Control Gauge","value":"+7.2","detail":"Control support is limited","tone":"positive"},{"label":"SM Force Gauge","value":"+63.0","detail":"Upward commitment","tone":"positive"},{"label":"SM Direction Gauge","value":"+42.3","detail":"Upward follow-through","tone":"positive"},{"label":"SM Confirmation Gauge","value":"12/100","detail":"Limited support","tone":"caution"}]},"kpis":[{"label":"Price structure","value":"Aligned upward","detail":"completed-week alignment","tone":"positive"},{"label":"Momentum","value":"71.1","detail":"Stretched positive","tone":"positive"},{"label":"Risk pressure","value":"2.0%","detail":"Elevated","tone":"caution"},{"label":"Trend quality","value":"-","detail":"Developing","tone":"neutral"},{"label":"Range position","value":"76%","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":[25.2675,25.4527,24.7359,25.3206,25.5729,25.0798,26.1332,26.1348,26.78,26.4404,26.4885,26.7762,26.6322,26.6803,27.3152,27.5622,27.0908],"stroke":"#10243b","width":2.1},{"label":"Fast trend","values":[null,null,null,null,25.2847,25.2474,25.4085,25.5405,25.7659,25.8885,25.9976,26.1392,26.2288,26.3109,26.4935,26.6878,26.7611],"stroke":"#176fa3","width":1.7},{"label":"Slow trend","values":[null,null,null,null,null,null,null,null,null,null,null,null,25.7788,25.8456,25.9544,26.0735,26.1489],"stroke":"#07865c","width":1.8},{"label":"Upper envelope","values":[null,null,null,null,null,null,null,null,null,26.9268,27.0277,27.1813,27.2557,27.3213,27.5285,27.7518,27.8214],"stroke":"#98a9b8","width":1.0,"dash":[6,5]},{"label":"Lower envelope","values":[null,null,null,null,null,null,null,null,null,24.4568,24.5007,24.5158,24.562,24.6066,24.5796,24.5448,24.5861],"stroke":"#98a9b8","width":1.0,"dash":[6,5]}],"guides":[],"dates":["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":"returns","eyebrow":"Observed return path","title":"Completed returns and cumulative progression","description":"Period returns are shown beside the total move recorded across the available tape.","reason":"Selected because direct returns remain fully observable while longer indicators develop.","series":[{"label":"Period return","values":[null,0.7329,-2.8162,2.3636,0.9964,-1.9279,4.2,0.0061,2.4687,-1.2681,0.1819,1.0861,-0.5378,0.1806,2.3797,0.9043,-1.7103],"stroke":"#176fa3","width":1.7},{"label":"Cumulative progression","values":[0.0,0.7329,-2.1039,0.21,1.2085,-0.7428,3.4261,3.4324,5.9859,4.6418,4.8322,5.9708,5.4009,5.5913,8.104,9.0815,7.2159],"stroke":"#07865c","width":2.0}],"guides":[{"label":"Starting level","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],"stroke":"#8fa0af","width":1.0,"dash":[6,5]}],"dates":["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":"bar_range","eyebrow":"Completed-bar anatomy","title":"Range expansion and closing direction","description":"The completed range and open-to-close direction expose expansion, compression and control.","reason":"Selected because these measures use every completed bar and do not require a long history.","series":[{"label":"Completed range","values":[0.9867,2.8013,3.7089,3.8647,1.003,2.903,4.1021,2.1761,2.0332,3.5158,1.6981,2.537,1.4272,1.3493,1.4644,3.1565,2.0188],"stroke":"#b87806","width":1.8},{"label":"Open-to-close direction","values":[0.8281,-1.1472,-3.0676,4.0201,-0.1001,-1.0598,3.502,-0.5491,1.8445,-3.3964,-0.7174,1.0232,0.0996,-0.964,1.0178,1.7055,-1.3804],"stroke":"#176fa3","width":1.8}],"guides":[{"label":"Unchanged close","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],"stroke":"#8fa0af","width":1.0,"dash":[6,5]}],"dates":["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":"impulse","eyebrow":"Price impulse","title":"Acceleration, deceleration and rollover","description":"The impulse path separates directional acceleration from a loss of momentum.","reason":"Selected because the latest impulse is 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