{"schema_version":"1.0","name":"FTGF Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"eb96b025-4029-4b68-a6d9-187b92d4640b","symbol":"FTGF","name":"First Trust Indxx Europe Infrastructure UCITS ETF Class A ACCU","exchange":"GER","country":"DE","asset_type":"etf","currency":"EUR","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, Range pressure and compression, Directional strength and control, Range position and boundary pressure, Activity pressure and cumulative balance, Acceleration, deceleration and rollover."},{"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":29,"displayedObservations":29,"assetType":"ETF","state":"Rotational","stateTone":"caution","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":["2026-08-21"],"values":[0.026308],"opens":[21.93],"highs":[21.93],"lows":[21.245],"closes":[21.245],"hoverRows":[[{"label":"Open","value":"21.9","className":"is-ohlc","compact":true},{"label":"High","value":"21.9","className":"is-ohlc","compact":true},{"label":"Low","value":"21.2","className":"is-ohlc","compact":true},{"label":"Close","value":"21.2","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":[20.125,22.365],"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":[],"reversal_dangers":[]}},"smTape":{"available":true,"dates":["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":[20.417,20.68,20.68,21.175,19.866,20.005,19.38,19.392,20.3,21.245,21.06,21.185,21.275,21.09,20.635,20.83,20.93,21.025,20.98,21.54,21.57,21.875,21.295,21.205,21.405,21.165,21.81,21.82,21.245],"consensus":[100.0,-35.3534,-24.4443,36.0944,-71.4339,-15.8198,-63.0513,-31.697,40.3281,73.5038,27.5737,48.8014,45.8522,0.0,-34.3218,13.9451,0.0,0.0,23.338,35.7441,17.127,53.3118,11.5055,0.0,29.1486,-29.4857,59.6397,23.2096,-42.3223],"supportDates":["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,-1.1366,-62.7181,-17.6729,42.4483,64.4922,17.6859,44.618,43.7294,0.0,-34.0848,25.8315,0.0,0.0,29.079,20.3138,3.4318,60.3683,12.5479,0.0,33.6758,-16.8308,56.2217,15.6037,-41.1348],"force":[100.0,-35.3534,-24.4443,36.0944,-55.0797,-10.6425,-51.2515,-3.5188,56.6339,94.0855,5.2908,34.4088,26.9581,0.0,-54.0647,21.9989,0.0,0.0,15.3871,42.4199,4.5948,38.0194,6.4574,0.0,50.2221,-63.53,86.9099,6.0018,-86.5425],"direction":[null,null,null,null,-83.1155,-54.1001,-71.8606,-67.8519,26.258,69.1016,62.3488,63.8628,61.7741,0.0,-20.4906,5.3922,0.0,0.0,22.456,48.6102,48.2944,56.1704,23.1447,0.0,8.9221,-19.6311,44.0673,44.1935,-12.0937],"intensity":[null,null,null,null,100.0,80.0,66.6667,28.5714,87.5,88.8889,40.0,18.1818,16.6667,30.7692,42.8571,26.6667,37.5,23.5294,22.2222,78.9474,5.0,33.3333,72.7273,17.3913,33.3333,64.0,80.7692,62.963,67.8571],"confirmation":[54.6667,33.9798,30.4888,34.2169,67.4446,7.0271,87.8219,54.8313,81.3696,92.2858,54.4347,83.2416,82.1292,6.0787,79.5883,51.0104,1.1744,2.7209,75.1384,79.8767,28.6742,84.4862,49.8293,25.8468,77.9008,78.6658,87.9679,52.3519,55.0],"persistence":[null,null,33.3333,0.0,20.0,33.3333,42.8571,50.0,50.0,25.0,0.0,0.0,25.0,37.5,37.5,62.5,50.0,37.5,37.5,37.5,37.5,50.0,75.0,62.5,75.0,62.5,62.5,62.5,37.5],"assessmentRisk":[null,null,null,null,2.8305,31.4459,17.0511,33.9565,9.406,10.7969,35.6736,25.3085,23.5684,11.6934,14.0461,34.1334,26.9864,7.6737,21.6457,29.4499,37.6781,22.7128,33.9425,44.2241,40.2714,34.4215,15.6171,36.6322,0.1584],"volumeParticipation":true,"latest":{"consensus":-42.3,"control":-41.1,"force":-86.5,"direction":-12.1,"confirmation":55.0,"persistence":37.5,"assessmentRisk":0.2,"intensity":67.9,"evidenceDepth":100},"analysis":{"status":"Completed tape has stronger support","headline":"The gauges support the downward view","summary":"The completed evidence gives the downward view the clearer support.","take":"Current assessment: downward pressure has the stronger support.","tone":"negative","supportedView":"Completed tape","direction":"downward","disagreement":false},"support":{"window":"Latest 12 months","controlState":"Seller control supports the view","controlPath":"Broadly stable","forceState":"Downward commitment","forcePath":"Commitment is strengthening","directionState":"Downward follow-through","persistenceState":"Unsettled","confirmationState":"Qualified support","riskState":"Contained","intensityState":"Normal"},"cards":[{"label":"SM Consensus Gauge","value":"-42.3","detail":"Completed tape has stronger support","tone":"negative"},{"label":"SM Control Gauge","value":"-41.1","detail":"Seller control supports the view","tone":"negative"},{"label":"SM Force Gauge","value":"-86.5","detail":"Downward commitment","tone":"negative"},{"label":"SM Direction Gauge","value":"-12.1","detail":"Downward follow-through","tone":"negative"},{"label":"SM Confirmation Gauge","value":"55/100","detail":"Qualified support","tone":"neutral"}]},"kpis":[{"label":"Price structure","value":"Rotational","detail":"completed-week alignment","tone":"caution"},{"label":"Momentum","value":"57.3","detail":"Positive","tone":"positive"},{"label":"Risk pressure","value":"2.4%","detail":"Normal","tone":"neutral"},{"label":"Trend quality","value":"22.3","detail":"Range-led","tone":"neutral"},{"label":"Range position","value":"72%","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":[20.417,20.68,20.68,21.175,19.866,20.005,19.38,19.392,20.3,21.245,21.06,21.185,21.275,21.09,20.635,20.83,20.93,21.025,20.98,21.54,21.57,21.875,21.295,21.205,21.405,21.165,21.81,21.82,21.245],"stroke":"#10243b","width":2.1},{"label":"Fast trend","values":[null,null,null,null,20.4878,20.4,20.2145,20.065,20.1077,20.3145,20.45,20.5837,20.7094,20.7786,20.7525,20.7666,20.7963,20.8379,20.8637,20.9867,21.0927,21.235,21.2459,21.2384,21.2687,21.2499,21.3517,21.4369,21.402],"stroke":"#176fa3","width":1.7},{"label":"Slow trend","values":[null,null,null,null,null,null,null,null,null,null,null,null,20.5219,20.564,20.5693,20.5886,20.6139,20.6443,20.6692,20.7337,20.7956,20.8756,20.9067,20.9288,20.964,20.9789,21.0405,21.0982,21.1091],"stroke":"#07865c","width":1.8},{"label":"Upper 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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,2.8762,2.946,2.8797,2.8131,2.6836,2.5296,2.5183,2.3965,2.3004,2.4005,2.3008,2.2066,2.3422,2.3497,2.3118,2.4351],"stroke":"#c13f3f","width":1.9},{"label":"Envelope 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