{"schema_version":"1.0","name":"FSML Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"eb78cc15-7706-4502-9a05-8ec17b6db3a7","symbol":"FSML","name":"FRANKLIN SMALL CAP ENHANCED ETF","exchange":"NYSEARCA","country":"US","asset_type":"etf","currency":"USD","sector":null,"industry":null},"summary":"Market Dynamics eased this week but remains positive. Underlying support has contracted across the recent completed path. The upward price structure remains intact, but its underlying support has weakened.","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, Directional strength and control, Range pressure and compression, 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":37,"displayedObservations":37,"assetType":"ETF","state":"Aligned upward","stateTone":"positive","summary":"Market Dynamics eased this week but remains positive. Underlying support has contracted across the recent completed path. The upward price structure remains intact, but its underlying support has weakened.","evidenceAlignment":{"status":"Confirmation weakening","headline":"Upward price structure remains intact, but support is fading","summary":"Market Dynamics eased this week but remains positive. Underlying support has contracted across the recent completed path. The upward price structure remains intact, but its underlying support has weakened.","take":"Treat the advance as conditional. Renewed Market Dynamics would restore confirmation; continued contraction would increase rollover risk.","tone":"caution","conflict":true},"marketDynamics":{"available":true,"readAvailable":true,"dates":["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":[1.056168,1.438963,1.445779,1.402926,1.224148,0.958003,0.804999,0.692132,0.596076],"opens":[30.23062,30.31,30.46,29.88,29.95,30.16,29.97,30.79,31.0],"highs":[30.495875,30.99,30.525,30.4,30.7,30.16,30.9615,31.18,31.15],"lows":[29.308761,30.04,29.53,29.83,29.82,29.3324,29.67,30.6902,30.0991],"closes":[30.2799,30.04,30.1219,30.0227,29.8226,29.6193,30.82,31.18,30.4356],"hoverRows":[[{"label":"Open","value":"30.2","className":"is-ohlc","compact":true},{"label":"High","value":"30.5","className":"is-ohlc","compact":true},{"label":"Low","value":"29.3","className":"is-ohlc","compact":true},{"label":"Close","value":"30.3","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"1.06","note":"Supportive and strengthening","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"30.3","className":"is-ohlc","compact":true},{"label":"High","value":"31.0","className":"is-ohlc","compact":true},{"label":"Low","value":"30.0","className":"is-ohlc","compact":true},{"label":"Close","value":"30.0","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"1.44","note":"Supportive and strengthening","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"30.5","className":"is-ohlc","compact":true},{"label":"High","value":"30.5","className":"is-ohlc","compact":true},{"label":"Low","value":"29.5","className":"is-ohlc","compact":true},{"label":"Close","value":"30.1","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"1.45","note":"Supportive and strengthening","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"29.9","className":"is-ohlc","compact":true},{"label":"High","value":"30.4","className":"is-ohlc","compact":true},{"label":"Low","value":"29.8","className":"is-ohlc","compact":true},{"label":"Close","value":"30.0","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"1.40","note":"Supportive but easing","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"29.9","className":"is-ohlc","compact":true},{"label":"High","value":"30.7","className":"is-ohlc","compact":true},{"label":"Low","value":"29.8","className":"is-ohlc","compact":true},{"label":"Close","value":"29.8","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"1.22","note":"Supportive but easing","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"30.2","className":"is-ohlc","compact":true},{"label":"High","value":"30.2","className":"is-ohlc","compact":true},{"label":"Low","value":"29.3","className":"is-ohlc","compact":true},{"label":"Close","value":"29.6","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.96","note":"Supportive but easing","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"30.0","className":"is-ohlc","compact":true},{"label":"High","value":"31.0","className":"is-ohlc","compact":true},{"label":"Low","value":"29.7","className":"is-ohlc","compact":true},{"label":"Close","value":"30.8","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.80","note":"Supportive but easing","className":"is-positive","wide":true},{"label":"Signal / event","value":"Positioning recovery","className":"is-positive","wide":true}],[{"label":"Open","value":"30.8","className":"is-ohlc","compact":true},{"label":"High","value":"31.2","className":"is-ohlc","compact":true},{"label":"Low","value":"30.7","className":"is-ohlc","compact":true},{"label":"Close","value":"31.2","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.69","note":"Supportive but easing","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"31.0","className":"is-ohlc","compact":true},{"label":"High","value":"31.1","className":"is-ohlc","compact":true},{"label":"Low","value":"30.1","className":"is-ohlc","compact":true},{"label":"Close","value":"30.4","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.60","note":"Supportive but easing","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}]],"pressureRange":[-2.3,2.3],"priceRange":[29.525658,31.273642],"zones":{"accumulationBoundary":-1.5,"accumulationDarkBoundary":-2.0,"distributionBoundary":1.5,"distributionDarkBoundary":2.0},"latest":0.596076,"state":"Positive but weakening over four weeks","context":{"scenario":"positiveWeakening","latestDirection":"easing","fourWeekDirection":"weakening","now":{"label":"Easier this 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":"7 Aug 2026","detail":"The green dot marks a confirmed recovery where institutional positioning is most plausible.","tone":"positive"},{"label":"Market Dynamics confirmation","value":"Weakening","detail":"Underlying support has contracted across the recent completed path.","tone":"negative"}],"relationshipEvidence":{"available":false,"observations":25,"summary":"More completed weekly history is needed for a dependable ticker-level record."},"events":{"positioning_recoveries":[{"date":"2026-08-07","price":30.82}],"reversal_warnings":[],"reversal_dangers":[]}},"smTape":{"available":true,"dates":["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":[25.2122,25.0066,25.0527,24.8613,26.1988,26.4328,26.1688,25.9279,26.6056,26.5429,26.5841,26.0889,24.8046,24.2998,24.0658,24.1946,24.9304,25.9897,27.566,27.7384,27.9719,28.3687,27.3316,28.2128,28.725,28.2264,29.618,29.9172,30.2799,30.04,30.1219,30.0227,29.8226,29.6193,30.82,31.18,30.4356],"consensus":[-100.0,86.0416,-100.0,44.6427,80.3599,60.1705,22.7837,0.0,67.7353,22.7904,33.8826,-15.0204,-67.2484,-71.3821,-65.4142,-50.6276,28.019,60.9354,68.9452,56.4868,65.1651,75.1032,-13.2625,60.1846,50.2308,0.0,77.8364,51.3853,55.2501,14.2195,31.6146,20.5612,0.0,0.0,66.4832,56.6189,0.2849],"supportDates":["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,60.9821,3.3076,0.0,65.0735,19.988,26.7314,-15.1358,-63.7078,-69.0033,-68.7672,-47.3666,29.6279,55.5919,79.4733,62.4751,66.5636,74.1812,-24.3141,66.4606,36.1965,0.0,81.5913,49.5375,55.6886,1.4157,30.3445,20.8623,0.0,0.0,67.6682,66.46,8.6525],"force":[-100.0,86.0416,-100.0,44.6427,57.0654,35.2905,8.1083,0.0,77.8722,5.9164,11.5457,-59.7665,-64.7863,-67.6648,-43.9231,-26.1107,85.2005,93.6625,61.6027,34.0473,59.2058,83.3686,-54.1167,58.3181,57.8813,0.0,86.5424,31.9185,38.0822,33.9548,5.5694,6.5623,0.0,0.0,87.3744,41.0079,38.7474],"direction":[null,null,null,null,96.9988,77.0143,67.1078,0.0,63.5367,46.498,58.0101,-17.0729,-73.0533,-76.7559,-76.9329,-71.8665,14.6637,43.6659,62.1578,65.6713,67.8234,70.2531,-28.5495,54.3453,60.8053,0.0,67.3265,67.4019,67.0117,63.2628,51.6698,39.591,0.0,0.0,50.2067,56.5225,36.7513],"intensity":[null,null,null,null,100.0,80.0,16.6667,85.7143,62.5,55.5556,10.0,63.6364,91.6667,84.6154,14.2857,13.3333,75.0,88.2353,100.0,84.2105,5.0,33.3333,72.7273,69.5652,95.8333,36.0,92.3077,66.6667,14.2857,55.1724,36.6667,6.4516,9.375,42.4242,82.3529,71.4286,61.1111],"confirmation":[54.6667,50.2,54.6667,36.9523,69.9836,86.4839,8.3759,11.249,90.0248,53.0563,78.2706,32.4774,89.4984,90.7652,88.2265,83.5033,36.4792,88.5782,89.6783,85.3007,88.6499,92.299,34.0779,87.1066,84.5209,32.3301,93.1158,83.8782,85.1501,10.5209,54.6756,52.4817,6.0617,5.6626,89.8932,85.4923,39.6428],"persistence":[null,null,33.3333,0.0,20.0,33.3333,42.8571,37.5,62.5,62.5,87.5,62.5,37.5,12.5,12.5,25.0,25.0,25.0,25.0,0.0,25.0,50.0,50.0,75.0,75.0,62.5,62.5,62.5,62.5,62.5,87.5,87.5,75.0,75.0,75.0,75.0,62.5],"assessmentRisk":[null,null,null,null,5.4845,19.2458,36.8594,45.6438,1.7002,0.7105,17.8853,23.2303,16.1158,14.2558,17.2717,24.5107,4.1929,19.2075,15.5209,21.7513,17.3979,12.3364,8.1993,3.4095,12.1709,8.2561,10.92,23.6047,21.3334,42.3205,15.7049,1.2825,31.2085,26.8949,6.0105,20.1474,38.917],"volumeParticipation":true,"latest":{"consensus":0.3,"control":8.7,"force":38.7,"direction":36.8,"confirmation":39.6,"persistence":62.5,"assessmentRisk":38.9,"intensity":61.1,"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":"Control support is limited","controlPath":"Broadly stable","forceState":"Upward commitment","forcePath":"Commitment is strengthening","directionState":"Upward follow-through","persistenceState":"Developing","confirmationState":"Qualified support","riskState":"Present","intensityState":"Normal"},"cards":[{"label":"SM Consensus Gauge","value":"+0.3","detail":"Joint upward confirmation","tone":"positive"},{"label":"SM Control Gauge","value":"+8.7","detail":"Control support is limited","tone":"positive"},{"label":"SM Force Gauge","value":"+38.7","detail":"Upward commitment","tone":"positive"},{"label":"SM Direction Gauge","value":"+36.8","detail":"Upward follow-through","tone":"positive"},{"label":"SM Confirmation Gauge","value":"40/100","detail":"Qualified support","tone":"neutral"}]},"kpis":[{"label":"Price structure","value":"Aligned upward","detail":"completed-week alignment","tone":"positive"},{"label":"Momentum","value":"62.7","detail":"Positive","tone":"positive"},{"label":"Risk pressure","value":"2.9%","detail":"Elevated","tone":"caution"},{"label":"Trend quality","value":"27.5","detail":"Directional","tone":"positive"},{"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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Market Dynamics construction and private inputs are not disclosed. Historical research is not a forecast or instruction to trade."}