{"schema_version":"1.0","name":"FFSM Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"97d9065e-9d7c-425a-9c9c-e477c91d2a53","symbol":"FFSM","name":"Fidelity US Fundamental Small-Mid Cap UCITS ETF Acc","exchange":"GER","country":"DE","asset_type":"etf","currency":"EUR","sector":null,"industry":null},"summary":"Market Dynamics eased this week but remains positive. Underlying support has contracted across the recent completed path. Price has not yet established a clear direction.","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, Directional strength and control, Acceleration, deceleration and rollover, 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":48,"displayedObservations":48,"assetType":"ETF","state":"Rotational","stateTone":"caution","summary":"Market Dynamics eased this week but remains positive. Underlying support has contracted across the recent completed path. Price has not yet established a clear direction.","evidenceAlignment":{"status":"Support weakening","headline":"Positive Market Dynamics has weakened while price remains rotational","summary":"Market Dynamics eased this week but remains positive. Underlying support has contracted across the recent completed path. Price has not yet established a clear direction.","take":"Treat the weaker support as caution until price and Market Dynamics establish clearer agreement.","tone":"caution","conflict":true},"marketDynamics":{"available":true,"readAvailable":true,"dates":["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":[-0.053293,0.02834,0.178078,0.315116,0.501111,0.550507,0.64582,0.774848,0.840507,1.037199,1.169941,1.247422,1.284343,1.254623,1.131397,1.115118,0.821318,0.642305,0.435251,0.123323],"opens":[4.917,5.055,5.189,5.229,5.289,5.326,5.262,5.366,5.425,5.484,5.689,5.826,5.673,5.624,5.584,5.592,5.724,5.572,5.754,5.768],"highs":[5.097,5.196,5.305,5.26,5.423,5.378,5.312,5.434,5.445,5.61,5.693,5.826,5.684,5.632,5.604,5.701,5.724,5.811,5.788,5.791],"lows":[4.884,5.055,5.187,5.138,5.27,5.249,5.157,5.343,5.425,5.484,5.665,5.756,5.665,5.624,5.584,5.591,5.469,5.572,5.713,5.528],"closes":[5.092,5.196,5.231,5.236,5.329,5.291,5.312,5.343,5.44,5.587,5.68,5.774,5.684,5.63,5.604,5.701,5.556,5.74,5.725,5.54],"hoverRows":[[{"label":"Open","value":"4.92","className":"is-ohlc","compact":true},{"label":"High","value":"5.10","className":"is-ohlc","compact":true},{"label":"Low","value":"4.88","className":"is-ohlc","compact":true},{"label":"Close","value":"5.09","className":"is-ohlc","compact":true},{"label":"Market 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but easing","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"5.57","className":"is-ohlc","compact":true},{"label":"High","value":"5.81","className":"is-ohlc","compact":true},{"label":"Low","value":"5.57","className":"is-ohlc","compact":true},{"label":"Close","value":"5.74","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.64","note":"Supportive but easing","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"5.75","className":"is-ohlc","compact":true},{"label":"High","value":"5.79","className":"is-ohlc","compact":true},{"label":"Low","value":"5.71","className":"is-ohlc","compact":true},{"label":"Close","value":"5.72","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.44","note":"Supportive but 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week","detail":"Market Dynamics eased this week but remains positive."},"fourWeek":{"label":"Weakened over four weeks","detail":"Underlying support has contracted 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":"Positive support is weakening","detail":"Market Dynamics remains above zero, but support has contracted across the recent completed path. Price confirmation now carries more weight.","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 above zero, but support has contracted across the recent completed path. Price confirmation now carries more weight.","annotations":[{"label":"Current tape relationship","value":"Positive support is weakening","detail":"Market Dynamics eased this week but remains positive.","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":"Weakening","detail":"Underlying support has contracted across the recent completed path.","tone":"negative"}],"relationshipEvidence":{"available":false,"observations":20,"summary":"More completed weekly history is needed for a dependable ticker-level record."},"events":{"positioning_recoveries":[],"reversal_warnings":[{"date":"2026-06-12","price":5.587}],"reversal_dangers":[{"date":"2026-06-19","price":5.68}]}},"smTape":{"available":true,"dates":["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":[4.303,4.3595,4.276,4.2965,4.412,4.432,4.402,4.407,4.3955,4.603,4.624,4.648,4.6325,4.6295,4.5855,4.785,4.9265,4.848,4.6975,4.982,4.982,5.061,5.031,5.006,4.8105,4.7365,4.781,4.8915,5.092,5.196,5.231,5.236,5.329,5.291,5.312,5.343,5.44,5.587,5.68,5.774,5.684,5.63,5.604,5.701,5.556,5.74,5.725,5.54],"consensus":[-27.027,80.117,-100.0,-42.963,65.3938,20.3507,9.158,13.5028,0.0,69.7683,60.3646,44.0923,32.9453,19.7549,0.0,82.2944,79.4002,21.0422,-19.3581,74.859,33.2927,68.8555,25.7597,8.7978,-29.0922,-44.0019,0.0,28.2042,59.9396,68.9403,41.1619,42.3928,44.6529,20.1294,44.579,24.8246,49.1549,64.2996,52.8704,41.7323,40.3185,27.5434,25.2412,55.2917,-31.8424,59.5413,15.9662,47.7914],"supportDates":["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,6.1869,10.5641,3.32,0.0,72.1292,57.3136,27.3255,25.8935,13.4345,0.0,82.6476,81.8534,8.9615,-29.5475,72.4939,36.1426,67.207,14.4155,5.977,-26.5163,-43.4714,0.0,42.2013,68.3758,73.2511,35.2094,43.5165,42.7928,13.8963,49.2141,11.212,57.2038,71.985,48.7758,33.686,43.2258,32.3099,44.0743,70.6127,-24.4157,57.7983,8.0957,40.0358],"force":[-27.027,80.117,-100.0,-42.963,43.1082,7.482,16.1183,3.9784,0.0,60.8915,46.2937,30.0382,6.0081,8.1946,0.0,95.05,93.8115,14.9945,-74.2312,98.0555,5.5924,80.009,4.6604,29.9066,-41.8101,-48.6945,0.0,48.7672,58.6803,78.1822,26.1224,19.3878,27.2988,8.9843,36.0889,14.7199,31.8749,53.3188,40.6153,17.4397,5.3152,1.9277,2.142,72.0083,-82.4204,83.634,7.7574,92.1702],"direction":[null,null,null,null,81.3121,56.4184,49.7519,45.2155,0.0,73.4106,73.9021,73.2931,68.8282,46.9421,0.0,72.7797,66.3026,60.5892,-31.4822,60.993,49.8215,62.7727,60.4531,39.6675,-22.9519,-41.2563,0.0,2.4803,51.1978,57.4122,58.7073,57.5406,59.1744,48.0483,45.346,47.5996,52.299,63.3598,66.3036,68.2798,61.9981,43.1468,20.217,25.8415,-4.2029,44.3243,41.9064,24.9558],"intensity":[null,null,null,null,100.0,80.0,33.3333,42.8571,87.5,100.0,90.0,72.7273,41.6667,38.4615,35.7143,93.3333,87.5,47.0588,83.3333,100.0,95.0,42.8571,18.1818,8.6957,91.6667,40.0,34.6154,66.6667,85.7143,79.3103,70.0,19.3548,78.125,18.1818,52.9412,82.8571,52.7778,78.3784,81.5789,66.6667,67.5,19.5122,11.9048,48.8372,70.4545,84.4444,65.2174,85.1064],"confirmation":[31.3153,48.3041,54.6667,36.4148,65.2406,30.1426,30.8197,28.2681,24.9491,90.0193,86.9343,81.9367,56.0779,29.9809,6.0552,94.7176,93.8099,31.6848,37.0945,92.6979,55.0994,90.3988,53.8164,8.0588,77.7363,82.2317,4.8478,55.3012,87.0138,90.2769,80.8042,80.8475,81.7884,30.2324,81.9359,75.8434,83.0803,88.1241,84.6074,80.7366,57.1242,53.5877,52.4195,85.9693,57.1775,87.814,51.4944,84.7639],"persistence":[null,null,33.3333,50.0,20.0,0.0,14.2857,25.0,37.5,37.5,62.5,87.5,87.5,87.5,75.0,75.0,87.5,87.5,62.5,62.5,62.5,62.5,75.0,75.0,50.0,25.0,37.5,37.5,37.5,37.5,37.5,37.5,62.5,87.5,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,75.0,75.0,75.0,50.0],"assessmentRisk":[null,null,null,null,12.6141,30.1819,43.6553,41.0556,17.0457,13.7015,19.5162,27.8182,33.4004,8.4863,22.5631,5.8167,10.2135,38.8134,50.0179,8.8667,4.7941,12.7592,36.8485,5.9767,28.933,27.3059,44.9387,49.0316,18.6206,15.4433,29.3348,28.5337,26.9975,27.719,12.3287,28.2866,16.6715,17.8222,23.5642,29.1338,29.6987,14.0857,52.9543,66.5272,29.366,11.4897,35.1775,21.0852],"volumeParticipation":true,"latest":{"consensus":47.8,"control":40.0,"force":92.2,"direction":25.0,"confirmation":84.8,"persistence":50.0,"assessmentRisk":21.1,"intensity":85.1,"evidenceDepth":100},"analysis":{"status":"Market Dynamics has stronger support","headline":"The gauges support the upward view","summary":"The completed evidence gives the upward view the clearer support.","take":"Current assessment: upward pressure has the stronger support.","tone":"positive","supportedView":"Market Dynamics","direction":"upward","disagreement":false},"support":{"window":"Latest 12 months","controlState":"Buyer control supports the view","controlPath":"Control support is easing","forceState":"Upward commitment","forcePath":"Commitment is strengthening","directionState":"Upward follow-through","persistenceState":"Developing","confirmationState":"Strong support","riskState":"Contained","intensityState":"Elevated"},"cards":[{"label":"SM Consensus Gauge","value":"+47.8","detail":"Market Dynamics has stronger support","tone":"positive"},{"label":"SM Control Gauge","value":"+40.0","detail":"Buyer control supports the view","tone":"positive"},{"label":"SM Force Gauge","value":"+92.2","detail":"Upward commitment","tone":"positive"},{"label":"SM Direction Gauge","value":"+25.0","detail":"Upward follow-through","tone":"positive"},{"label":"SM Confirmation Gauge","value":"85/100","detail":"Strong support","tone":"positive"}]},"kpis":[{"label":"Price structure","value":"Rotational","detail":"completed-week alignment","tone":"caution"},{"label":"Momentum","value":"58.5","detail":"Positive","tone":"positive"},{"label":"Risk pressure","value":"2.7%","detail":"Normal","tone":"neutral"},{"label":"Trend quality","value":"33.5","detail":"Directional","tone":"positive"},{"label":"Range position","value":"75%","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 through its trend references.","series":[{"label":"Close","values":[4.303,4.3595,4.276,4.2965,4.412,4.432,4.402,4.407,4.3955,4.603,4.624,4.648,4.6325,4.6295,4.5855,4.785,4.9265,4.848,4.6975,4.982,4.982,5.061,5.031,5.006,4.8105,4.7365,4.781,4.8915,5.092,5.196,5.231,5.236,5.329,5.291,5.312,5.343,5.44,5.587,5.68,5.774,5.684,5.63,5.604,5.701,5.556,5.74,5.725,5.54],"stroke":"#10243b","width":2.1},{"label":"Fast trend","values":[null,null,null,null,4.3242,4.3438,4.3544,4.3639,4.3697,4.4121,4.4506,4.4865,4.5131,4.5342,4.5436,4.5875,4.6491,4.6853,4.6875,4.741,4.7848,4.8351,4.8707,4.8953,4.8799,4.8538,4.8406,4.8498,4.8939,4.9488,5.0001,5.043,5.095,5.1306,5.1636,5.1962,5.2405,5.3035,5.372,5.4451,5.4885,5.5142,5.5306,5.5616,5.5605,5.5932,5.6171,5.6031],"stroke":"#176fa3","width":1.7},{"label":"Slow 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