{"schema_version":"1.0","name":"XDEF Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"f14a3671-5b70-4fc4-8cca-42fbf5d95418","symbol":"XDEF","name":"Xtrackers Europe Defence Technologies UCITS ETF 1C EUR","exchange":"LSE","country":"GB","asset_type":"etf","currency":"GBP","sector":null,"industry":null},"summary":"Market Dynamics strengthened this week and remains positive. Underlying support has strengthened across the recent completed path. The completed evidence supports the upward price structure.","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, Acceleration, deceleration and rollover, Range pressure and compression, Range position and boundary pressure, 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":48,"displayedObservations":48,"assetType":"ETF","state":"Aligned upward","stateTone":"positive","summary":"Market Dynamics strengthened this week and remains positive. Underlying support has strengthened across the recent completed path. The completed evidence supports the upward price structure.","evidenceAlignment":{"status":"Evidence aligned","headline":"Upward price structure retains strong Market Dynamics support","summary":"Market Dynamics strengthened this week and remains positive. Underlying support has strengthened across the recent completed path. The completed evidence supports the upward price structure.","take":"The advance remains supported. Reclassify it only if the broader Market Dynamics path weakens or price structure breaks.","tone":"positive","conflict":false},"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":[-0.394746,-0.541386,-0.549827,-0.716803,-0.8013,-0.870106,-0.83562,-0.740545,-0.671829,-0.623029,-0.581549,-0.613777,-0.504051,-0.483373,-0.445546,-0.255686,-0.172959,0.007285,0.176912,0.206757],"opens":[27.290001,27.299999,27.297501,25.235001,25.34,25.065001,23.629999,25.59,25.365,25.705,25.83,24.485001,26.805,25.238199,24.700001,24.684999,26.342501,27.355,28.264999,28.99],"highs":[27.732401,27.4725,27.297501,25.3025,26.547001,25.065001,25.0306,26.61775,25.389999,25.705,25.83,24.485001,26.805,25.238199,24.8825,25.895,26.745001,28.4984,29.10725,28.99],"lows":[26.665001,27.084999,25.2076,24.955,25.195,23.955,23.58,25.59,25.32,25.273001,25.83,24.485001,26.805,25.195,24.700001,24.684999,26.342501,27.3536,28.264999,27.43],"closes":[27.067499,27.7325,25.139999,25.3025,24.93,23.865,25.23,26.5425,25.32,25.415001,25.83,24.485001,26.805,25.195,24.8825,25.834999,26.74,28.2575,29.022499,27.49],"hoverRows":[[{"label":"Open","value":"27.3","className":"is-ohlc","compact":true},{"label":"High","value":"27.7","className":"is-ohlc","compact":true},{"label":"Low","value":"26.7","className":"is-ohlc","compact":true},{"label":"Close","value":"27.1","className":"is-ohlc","compact":true},{"label":"Market 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strengthening","context":{"scenario":"positiveSustained","latestDirection":"strengthening","fourWeekDirection":"strengthening","now":{"label":"Stronger this week","detail":"Market Dynamics strengthened this week and remains positive."},"fourWeek":{"label":"Strengthened over four weeks","detail":"Underlying support has strengthened 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":"Sustained positive support","detail":"Market Dynamics remains positive and has strengthened across the recent completed path. A slight weekly pause does not yet change the broader constructive reading.","tone":"positive"},"chartSummary":"Price is between the outer positioning zones. The Market Dynamics bars show whether underlying support is strengthening or weakening.","summary":"Market Dynamics remains positive and has strengthened across the recent completed path. A slight weekly pause does not yet change the broader constructive reading.","annotations":[{"label":"Current tape relationship","value":"Sustained positive support","detail":"Market Dynamics strengthened this week and remains positive.","tone":"positive"},{"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":"Supported","detail":"Underlying support has strengthened across the recent completed path.","tone":"positive"}],"relationshipEvidence":{"available":false,"observations":20,"summary":"More completed weekly history is needed for a dependable ticker-level record."},"events":{"positioning_recoveries":[],"reversal_warnings":[{"date":"2026-08-14","price":29.022499}],"reversal_dangers":[{"date":"2026-08-21","price":27.49}]}},"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":[26.695,27.5,26.44,25.14,30.0508,26.25,25.7625,25.7975,24.1975,24.255,24.5,25.08,25.4025,25.23,25.9475,28.6675,29.05,28.4425,27.71,27.36,27.6875,29.1725,28.49,27.2725,27.535,25.98,24.89,27.1625,27.0675,27.7325,25.14,25.3025,24.93,23.865,25.23,26.5425,25.32,25.415,25.83,24.485,26.805,25.195,24.8825,25.835,26.74,28.2575,29.0225,27.49],"consensus":[-100.0,48.9362,-91.4395,-100.0,64.6839,-29.6351,-25.7893,-16.8137,-54.2532,-14.3886,0.0,0.0,18.5314,0.0,30.5461,70.5674,48.604,0.0,0.0,0.0,12.2458,59.1207,0.0,-34.6424,0.0,-53.6925,-57.2038,33.4574,0.0,35.8418,-55.3567,-13.5851,-42.6133,-69.3963,21.5063,39.6693,-37.0132,0.0,8.6835,-40.0078,38.4787,-35.533,-9.7974,33.8705,43.4201,64.6243,62.1366,5.5093],"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,-39.1578,-34.0882,-29.874,-52.5611,-1.7238,0.0,0.0,18.1906,0.0,32.5568,63.9842,49.0609,0.0,0.0,0.0,18.707,61.8529,0.0,-37.2968,0.0,-51.1812,-59.7285,39.3811,0.0,38.5462,-62.0412,-0.7517,-40.4092,-68.2557,24.8418,44.1536,-48.7868,0.0,6.8422,-39.9027,40.6644,-51.3054,-1.3589,35.8371,55.2963,66.2261,67.1589,24.9443],"force":[-100.0,48.9362,-91.4395,-100.0,51.5025,-29.9476,-21.4096,-10.4022,-56.7017,-5.0388,0.0,0.0,33.5495,0.0,37.9266,88.8831,39.5563,0.0,0.0,0.0,15.4432,80.9318,0.0,-75.04,0.0,-73.3296,-58.71,70.2378,0.0,41.415,-84.3736,-6.8211,-38.3771,-86.6782,71.8872,55.7749,-55.6843,0.0,13.6903,-32.933,36.5495,-38.4492,-0.1895,49.205,53.6123,71.0561,52.372,41.1921],"direction":[null,null,null,null,74.0991,-18.5287,-19.4332,-6.4672,-54.4382,-42.7393,0.0,0.0,8.1937,0.0,22.9764,65.0084,54.5445,0.0,0.0,0.0,2.5777,40.4186,0.0,-2.7533,0.0,-42.536,-53.2425,0.4159,0.0,28.7702,-26.991,-44.5457,-48.1582,-58.3555,18.2921,23.0403,-10.2211,0.0,7.2116,-45.1812,37.3589,-15.4245,-29.6808,20.6696,22.5671,58.1996,63.3717,42.19],"intensity":[null,null,null,null,100.0,80.0,16.6667,28.5714,62.5,55.5556,10.0,36.3636,16.6667,38.4615,42.8571,86.6667,75.0,29.4118,44.4444,31.5789,10.0,71.4286,31.8182,60.8696,12.5,76.0,84.6154,85.1852,78.5714,27.5862,86.6667,77.4194,53.125,60.6061,55.8824,80.0,47.2222,5.4054,18.4211,53.8462,87.5,68.2927,16.6667,37.2093,72.7273,75.5556,34.7826,63.8298],"confirmation":[54.6667,38.3262,51.9273,54.6667,65.4296,77.3476,75.9926,50.3193,85.4614,27.9469,29.0783,3.434,74.3929,24.915,77.969,91.2401,83.2706,10.1136,31.939,24.5805,49.251,87.5417,6.9391,57.6096,1.261,85.8183,86.3126,57.0704,24.8726,79.598,86.4966,28.226,81.5407,90.7509,34.9356,81.1167,80.2338,25.3885,25.626,80.5885,80.2211,79.2191,25.9978,79.2759,82.0241,88.8514,87.5096,42.2215],"persistence":[null,null,33.3333,50.0,20.0,33.3333,42.8571,50.0,50.0,75.0,62.5,50.0,50.0,37.5,12.5,12.5,37.5,50.0,50.0,50.0,50.0,62.5,50.0,25.0,12.5,0.0,12.5,0.0,12.5,12.5,25.0,25.0,37.5,37.5,12.5,12.5,25.0,37.5,12.5,12.5,12.5,12.5,12.5,12.5,12.5,25.0,25.0,37.5],"assessmentRisk":[null,null,null,null,11.346,5.5059,0.3804,21.4928,22.1969,28.635,25.063,15.8467,18.3244,26.5194,17.2957,12.1038,23.436,46.8074,48.9462,41.9658,50.5749,4.4929,32.6197,12.9947,9.3266,22.8472,21.2136,20.9892,17.8439,28.6067,37.5996,38.4695,25.6107,15.096,7.1248,17.1841,33.0323,43.3946,18.0793,26.3046,21.9865,9.6125,25.9343,24.2759,24.4705,17.0231,18.8487,46.3304],"volumeParticipation":true,"latest":{"consensus":5.5,"control":24.9,"force":41.2,"direction":42.2,"confirmation":42.2,"persistence":37.5,"assessmentRisk":46.3,"intensity":63.8,"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":"Buyer control supports the view","controlPath":"Control support is easing","forceState":"Upward commitment","forcePath":"Broadly stable","directionState":"Upward follow-through","persistenceState":"Unsettled","confirmationState":"Qualified support","riskState":"Present","intensityState":"Normal"},"cards":[{"label":"SM Consensus Gauge","value":"+5.5","detail":"Joint upward confirmation","tone":"positive"},{"label":"SM Control Gauge","value":"+24.9","detail":"Buyer control supports the view","tone":"positive"},{"label":"SM Force Gauge","value":"+41.2","detail":"Upward commitment","tone":"positive"},{"label":"SM Direction Gauge","value":"+42.2","detail":"Upward 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