{"schema_version":"1.0","name":"H2O Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"ed00e26a-9c12-4b06-983a-96e133789527","symbol":"H2O","name":"First Trust Nasdaq Clean Edge Global Water UCITS ETF Class A Acc","exchange":"LSE","country":"GB","asset_type":"etf","currency":"GBP","sector":null,"industry":null},"summary":"Market Dynamics paused slightly this week and remains positive. The broader path has not changed enough to establish a new direction. Price structure remains rotational.","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 pressure and compression, Acceleration, deceleration and rollover, Directional strength and control, Drawdown and recovery pressure."},{"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":54,"displayedObservations":54,"assetType":"ETF","state":"Rotational","stateTone":"caution","summary":"Market Dynamics paused slightly this week and remains positive. 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evidence"}],"path":[{"week":0,"sample":0},{"week":1,"averageReturn":-0.5,"sample":2},{"week":2,"averageReturn":-1.6,"sample":2},{"week":3,"averageReturn":-2.2,"sample":2},{"week":4,"averageReturn":-2.2,"sample":2},{"week":5,"averageReturn":-3.8,"sample":2},{"week":6,"averageReturn":-1.7,"sample":2},{"week":7,"averageReturn":-2.8,"sample":2},{"week":8,"averageReturn":-3.4,"sample":2},{"week":9,"averageReturn":-3.6,"sample":1},{"week":10,"averageReturn":-1.0,"sample":1},{"week":11,"averageReturn":1.1,"sample":1},{"week":12,"averageReturn":0.5,"sample":1},{"week":13,"averageReturn":-0.7,"sample":1},{"week":14,"averageReturn":-0.2,"sample":1},{"week":15,"averageReturn":-0.9,"sample":1},{"week":16,"averageReturn":-1.6,"sample":1},{"week":17,"averageReturn":2.7,"sample":1},{"week":18,"averageReturn":-0.0,"sample":1},{"week":19,"averageReturn":-1.8,"sample":1},{"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":"Positive support; price rotational","tone":"caution","headline":"Market Dynamics is positive while price remains rotational","use":"Treat the improvement as context until price establishes a clear response.","confirm":"The underlying condition is constructive, but a positive price response is still required.","invalidate":"Reassess the reading when either price structure or the Market Dynamics state changes materially.","level":"positive","direction":"weakening","zone":"middle","zoneContext":"Price is between the accumulation and distribution zones. The Market Dynamics bars describe whether the current move is gaining or losing underlying support.","historical":{"label":"Broad directional cases","weeks":12,"direction":"higher","sample":0},"nowContext":{"label":"Slightly easier this week","detail":"Market Dynamics paused slightly this week and remains positive."},"fourWeekContext":{"label":"Broadly steady over four weeks","detail":"The broader path has not changed enough to establish a new direction."},"priceContext":{"label":"Price has no clear direction","detail":"Price remains rotational while the Market Dynamics condition develops."}},"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":"Early repair watch","title":"Prepare the case before price confirms the recovery","tone":"recovery","approach":"Use the improvement to move the ticker onto a watchlist or define an entry trigger. Commitment should rise only after price responds; fading Market Dynamics cancels the early case.","finding":"The current relationship is visible, but this ticker does not yet have a completed comparable outcome.","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 2.0 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."}]},"summary":"This record compares the ticker's completed price path with its published Market Dynamics history."},"events":{"positioning_recoveries":[],"reversal_warnings":[{"date":"2026-04-10","price":15.356},{"date":"2026-06-26","price":15.528}],"reversal_dangers":[{"date":"2026-04-17","price":15.292},{"date":"2026-07-03","price":15.436}]}},"smTape":{"available":true,"dates":["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":[15.001,15.297,15.114,15.114,14.96,14.957,14.853,15.145,14.89,15.045,15.361,15.187,14.984,15.118,14.851,15.182,15.026,14.985,14.967,14.91,14.81,15.317,15.602,15.451,15.163,15.782,15.906,15.859,16.126,15.582,14.914,14.466,14.506,14.977,15.356,15.292,15.126,14.895,14.984,14.604,14.603,14.675,14.767,14.799,15.198,15.528,15.436,15.25,15.325,15.213,15.104,15.777,15.352,15.082],"consensus":[-100.0,100.0,-100.0,100.0,0.0,11.8268,0.0,14.7458,-14.5458,0.0,18.3574,-12.1395,-14.7527,0.0,-11.4804,16.9944,-8.1008,8.2305,0.0,-11.5505,-14.0526,25.5863,29.2756,0.0,-13.7877,45.6662,20.6236,12.8503,37.7807,-22.0485,-41.9909,-51.9296,-32.3241,16.5225,31.2098,8.387,0.0,-27.8343,0.0,-45.4723,-9.4799,-23.1675,0.0,8.7929,28.8539,38.6992,22.4624,21.7354,16.9403,0.0,-25.7794,64.1138,-19.331,26.275],"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,null,20.7798,0.0,23.226,-24.7091,0.0,26.082,-21.8999,-23.2626,0.0,-8.3312,22.5064,-11.3175,17.8683,0.0,-16.1583,-17.7451,35.3976,37.3607,0.0,-19.6444,46.7615,21.8368,10.9036,42.6535,-29.5887,-50.3031,-56.1703,-32.3466,25.9428,35.5331,1.9345,0.0,-37.519,0.0,-51.9794,-3.837,-30.1714,0.0,13.4129,27.5484,38.0212,16.5042,22.6193,17.0269,0.0,-21.1177,65.1775,-30.7985,31.0386],"force":[-100.0,100.0,0.0,18.707,0.0,19.2147,-15.3559,0.0,17.749,-16.8198,-21.0362,0.0,-17.9045,28.2058,-14.0149,8.3653,0.0,-11.5826,-17.0212,29.2182,26.2758,0.0,-33.0413,73.4333,13.5915,0.0264,30.2529,-40.4117,-39.9198,-52.8379,-13.504,56.826,46.3381,4.2083,0.0,-28.6489,0.0,-43.6805,-7.0251,-9.3024,0.0,16.2017,26.8352,27.4343,3.4068,10.9763,8.2634,0.0,-49.3241,81.6217,-44.7809,34.4424],"direction":[null,null,0.0,3.3197,0.0,1.8621,-2.3519,0.0,9.9639,-2.3582,-0.5388,0.0,-10.491,2.6868,-0.2003,2.8805,0.0,-6.2614,-7.7121,11.7791,22.1782,0.0,-6.6584,24.5807,24.26,24.235,37.5889,-0.3146,-33.9707,-46.4344,-45.7412,23.0317,15.4629,18.7462,0.0,-16.1842,0.0,-39.3156,-36.4885,-25.0667,0.0,1.7792,31.7879,47.5203,42.8829,28.4104,23.039,0.0,-14.2895,50.3926,-11.9532,14.9972],"intensity":[null,null,25.0,80.0,16.6667,85.7143,75.0,33.3333,90.0,45.4545,58.3333,15.3846,92.8571,86.6667,31.25,70.5882,33.3333,5.2632,20.0,95.2381,86.3636,39.1304,75.0,96.0,69.2308,11.1111,60.7143,93.1034,96.6667,83.871,40.625,84.8485,79.4118,48.5714,27.7778,51.3514,39.4737,79.4872,82.5,58.5366,9.5238,2.3256,84.0909,75.5556,6.5217,63.8298,41.6667,67.3469,72.0,96.0784,82.6923,82.6923],"confirmation":[54.6667,54.6667,1.4253,49.8994,24.9097,50.059,49.8578,0.7037,73.7381,49.715,50.116,24.2118,71.9175,51.0292,48.0568,48.4388,0.4535,48.9603,49.8644,76.1488,77.1536,25.7913,51.6634,83.4427,74.3667,49.0843,79.7862,52.8336,81.2473,84.5805,77.7698,33.9521,78.3823,25.3215,27.0465,76.7842,3.1359,82.3974,27.7174,74.8843,27.8791,48.682,77.1916,80.0508,52.0313,74.614,73.1551,25.3428,77.038,89.0338,32.0035,76.5843],"persistence":[33.3333,0.0,0.0,16.6667,14.2857,25.0,25.0,12.5,37.5,12.5,0.0,12.5,25.0,25.0,25.0,12.5,25.0,25.0,25.0,12.5,12.5,0.0,0.0,0.0,12.5,37.5,62.5,37.5,12.5,0.0,0.0,0.0,0.0,0.0,12.5,12.5,0.0,0.0,0.0,25.0,37.5,37.5,25.0,0.0,12.5,37.5,62.5,75.0,62.5,62.5,37.5,12.5],"assessmentRisk":[null,null,8.6279,54.1162,42.7303,0.9557,9.9376,22.2497,40.136,16.2298,28.8772,19.6442,43.7463,9.6819,13.6813,31.9829,24.3166,37.242,33.2191,32.0414,34.904,48.0895,52.1172,23.6969,29.4925,39.1576,31.0469,17.805,28.6107,23.9728,33.819,53.6297,25.0443,44.5184,49.4131,3.2487,38.3408,25.5747,40.8753,17.7532,31.9833,28.1528,34.9022,30.5451,38.5105,37.8416,18.715,46.9765,33.7839,16.1358,14.6523,8.4528],"volumeParticipation":true,"latest":{"consensus":26.3,"control":31.0,"force":34.4,"direction":15.0,"confirmation":76.6,"persistence":12.5,"assessmentRisk":8.5,"intensity":82.7,"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 strengthening","forceState":"Upward commitment","forcePath":"Commitment is strengthening","directionState":"Upward follow-through","persistenceState":"Unsettled","confirmationState":"Strong support","riskState":"Contained","intensityState":"Elevated"},"cards":[{"label":"SM Consensus Gauge","value":"+26.3","detail":"Market Dynamics has stronger support","tone":"positive"},{"label":"SM Control Gauge","value":"+31.0","detail":"Buyer control supports the view","tone":"positive"},{"label":"SM Force Gauge","value":"+34.4","detail":"Upward 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Market Dynamics construction and private inputs are not disclosed. Historical research is not a forecast or instruction to trade."}