{"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":"f19c42db-60c6-4546-97b5-433862878df1","symbol":"FFSM","name":"Fidelity US Fundamental Small-Mid Cap UCITS ETF Acc","exchange":"LSE","country":"GB","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. 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, Directional strength and control, Range position and boundary pressure, 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":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 structure remains rotational.","evidenceAlignment":{"status":"Underlying support lags price","headline":"Market Dynamics is weaker than the current price position","summary":"Market Dynamics eased this week but remains positive. Underlying support has contracted across the recent completed path. Price structure remains rotational.","take":"This is a downside risk watch, not a completed reversal. Stronger Market Dynamics or weaker price is needed to close the gap.","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":[0.006409,0.104559,0.223473,0.365496,0.467229,0.412964,0.428552,0.35219,0.474404,0.634629,0.785152,0.897243,0.940028,0.922909,0.791952,0.674696,0.415578,0.26397,0.2202,0.057326],"opens":[5.676,5.943,6.168,6.169,6.258,6.289,6.076,6.249,6.302,6.366,6.5095,6.5615,6.494,6.446,6.432,6.421,6.529,6.464,6.648,6.691],"highs":[5.985,6.149,6.201,6.214,6.279,6.291,6.174,6.309,6.31,6.4765,6.5095,6.5615,6.494,6.446,6.432,6.5,6.6,6.635,6.789,6.73],"lows":[5.609,5.943,6.114,6.006,6.258,6.143,6.017,6.249,6.275,6.366,6.5095,6.5615,6.494,6.4405,6.416,6.391,6.291,6.42,6.6055,6.4655],"closes":[5.973,6.134,6.14,6.185,6.276,6.143,6.159,6.238,6.28,6.4765,6.5095,6.5615,6.494,6.4405,6.416,6.451,6.382,6.6345,6.668,6.4655],"hoverRows":[[{"label":"Open","value":"5.68","className":"is-ohlc","compact":true},{"label":"High","value":"5.99","className":"is-ohlc","compact":true},{"label":"Low","value":"5.61","className":"is-ohlc","compact":true},{"label":"Close","value":"5.97","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":"6.46","className":"is-ohlc","compact":true},{"label":"High","value":"6.63","className":"is-ohlc","compact":true},{"label":"Low","value":"6.42","className":"is-ohlc","compact":true},{"label":"Close","value":"6.63","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.26","note":"Supportive but easing","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"6.65","className":"is-ohlc","compact":true},{"label":"High","value":"6.79","className":"is-ohlc","compact":true},{"label":"Low","value":"6.61","className":"is-ohlc","compact":true},{"label":"Close","value":"6.67","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.22","note":"Supportive but easing","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"6.69","className":"is-ohlc","compact":true},{"label":"High","value":"6.73","className":"is-ohlc","compact":true},{"label":"Low","value":"6.47","className":"is-ohlc","compact":true},{"label":"Close","value":"6.47","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.06","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":[5.9313,6.7097],"zones":{"accumulationBoundary":-1.5,"accumulationDarkBoundary":-2.0,"distributionBoundary":1.5,"distributionDarkBoundary":2.0},"latest":0.057326,"state":"Price is moving ahead of Market Dynamics","context":{"scenario":"priceAhead","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 is ahead of the underlying support","detail":"Price is extended relative to Market Dynamics. The gap is a downside-risk warning until support catches up or price resets."}},"diagnosis":{"label":"Price response ahead of support","detail":"Price has advanced further through its recent range than Market Dynamics. The gap is an early-downside risk watch; stronger underlying support or a price reset is needed to close it.","tone":"caution"},"chartSummary":"Price is between the outer positioning zones. The Market Dynamics bars show whether underlying support is strengthening or weakening.","summary":"Price has advanced further through its recent range than Market Dynamics. The gap is an early-downside risk watch; stronger underlying support or a price reset is needed to close it.","annotations":[{"label":"Current tape relationship","value":"Price response ahead of support","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":"Lagging price","detail":"Price is extended relative to Market Dynamics. The gap is a downside-risk warning until support catches up or price resets.","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":"2026-05-08","price":6.276}],"reversal_dangers":[{"date":"2026-05-15","price":6.143}]}},"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":[5.045,5.118,4.9757,5.01,5.121,5.1125,5.1055,5.13,5.0565,5.3435,5.3895,5.4555,5.4185,5.4615,5.3945,5.5645,5.7265,5.6905,5.5905,5.8825,5.9115,5.966,5.946,5.6395,5.4995,5.4905,5.5065,5.6535,5.973,6.134,6.14,6.185,6.276,6.143,6.159,6.238,6.28,6.4765,6.5095,6.5615,6.494,6.4405,6.416,6.451,6.382,6.6345,6.668,6.4655],"consensus":[-15.4562,100.0,-100.0,-95.7895,49.6321,0.0,0.0,15.9136,-27.4165,67.8816,60.2554,56.4027,32.4549,35.4986,0.0,75.1295,79.2416,31.8303,0.0,82.6343,38.0366,61.6403,19.0199,-40.4019,-47.6593,-41.533,-31.8546,36.3957,69.7683,74.053,32.0222,54.3287,64.4153,0.0,35.8257,23.0202,24.3632,68.3546,42.1243,44.6818,28.0666,0.0,0.0,24.4935,-26.8329,71.8585,34.7373,22.5321],"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,0.0,0.0,1.9156,-24.7701,71.207,63.5904,40.0354,21.1741,26.9652,0.0,73.9118,82.09,32.6878,0.0,87.0775,24.8481,58.1544,4.1986,-43.4717,-47.6748,-43.4104,-26.1817,37.5885,66.5622,76.5674,23.7286,52.5424,62.0525,0.0,44.7223,17.9154,19.0654,81.2864,39.1361,42.2767,21.8377,0.0,0.0,33.9319,-18.1546,74.949,30.8943,32.9022],"force":[-15.4562,100.0,-100.0,-95.7895,48.9805,0.0,0.0,7.9494,-44.917,58.8888,37.897,57.9327,0.8164,10.2124,0.0,89.2613,94.1459,12.8328,0.0,97.552,20.8995,58.9425,21.6669,-63.3231,-50.1738,-29.4626,-22.966,77.601,97.1741,89.2941,4.5644,47.0326,69.874,0.0,22.1163,4.3385,15.0025,55.6394,16.7758,20.7331,4.2172,0.0,0.0,26.2514,-72.1141,94.8417,14.7147,49.2755],"direction":[null,null,null,null,50.0976,0.0,0.0,37.6,-17.9407,70.5046,72.4144,74.0152,69.1124,63.3125,0.0,66.4269,65.3403,62.7527,0.0,66.9009,65.3499,67.5511,65.0205,-20.5213,-45.8454,-48.0091,-44.6869,5.6,53.857,60.2931,61.1132,61.5816,63.2166,0.0,35.4506,42.1984,37.104,62.6578,63.6456,64.5366,58.2453,0.0,0.0,12.451,-4.4073,51.9098,53.431,8.4219],"intensity":[null,null,null,null,75.0,60.0,50.0,85.7143,87.5,100.0,50.0,90.9091,33.3333,23.0769,14.2857,86.6667,93.75,64.7059,44.4444,100.0,85.0,9.5238,45.4545,100.0,70.8333,72.0,23.0769,66.6667,100.0,100.0,73.3333,38.7097,84.375,54.5455,50.0,82.8571,5.5556,75.6757,57.8947,7.6923,15.0,9.7561,2.381,20.9302,34.0909,88.8889,76.087,78.7234],"confirmation":[27.6127,54.6667,54.6667,53.3193,61.1858,28.1224,5.2486,27.7296,77.347,89.3974,86.5495,86.3449,55.051,78.7189,32.4415,92.4907,93.7681,34.2158,36.943,94.8299,79.8504,87.6958,9.6945,81.5804,83.3274,80.8941,78.009,58.2176,91.2099,92.1231,54.87,85.19,88.8153,34.288,78.9109,52.2082,75.5917,89.2889,80.7528,81.6049,54.3253,6.1289,6.1389,75.7477,55.4321,91.6481,78.5643,32.3306],"persistence":[null,null,33.3333,50.0,20.0,16.6667,14.2857,0.0,0.0,0.0,25.0,50.0,50.0,62.5,62.5,62.5,87.5,87.5,75.0,75.0,75.0,75.0,87.5,62.5,37.5,12.5,0.0,0.0,0.0,0.0,0.0,25.0,50.0,62.5,87.5,87.5,87.5,87.5,87.5,87.5,87.5,87.5,75.0,75.0,50.0,50.0,50.0,25.0],"assessmentRisk":[null,null,null,null,7.9262,0.7789,42.7296,38.2226,21.064,14.3312,19.3415,21.6092,33.6925,24.0654,4.6842,3.1919,10.1652,32.9952,49.5679,8.0334,25.9056,18.1614,40.3787,26.7393,25.818,29.0883,33.8382,13.4944,14.8008,12.9336,33.9459,22.712,16.3656,6.8237,11.5789,5.4842,10.4549,15.6161,28.804,27.4516,33.9743,20.6454,38.0403,56.5631,30.4489,11.8617,32.2327,17.7033],"volumeParticipation":true,"latest":{"consensus":22.5,"control":32.9,"force":49.3,"direction":8.4,"confirmation":32.3,"persistence":25.0,"assessmentRisk":17.7,"intensity":78.7,"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":"Broadly stable","forceState":"Upward commitment","forcePath":"Commitment is strengthening","directionState":"Follow-through is limited","persistenceState":"Unsettled","confirmationState":"Limited support","riskState":"Contained","intensityState":"Elevated"},"cards":[{"label":"SM Consensus Gauge","value":"+22.5","detail":"Market Dynamics has stronger support","tone":"positive"},{"label":"SM Control Gauge","value":"+32.9","detail":"Buyer control supports the view","tone":"positive"},{"label":"SM Force Gauge","value":"+49.3","detail":"Upward commitment","tone":"positive"},{"label":"SM Direction Gauge","value":"+8.4","detail":"Follow-through is limited","tone":"positive"},{"label":"SM Confirmation Gauge","value":"32/100","detail":"Limited support","tone":"caution"}]},"kpis":[{"label":"Price structure","value":"Rotational","detail":"completed-week alignment","tone":"caution"},{"label":"Momentum","value":"61.7","detail":"Positive","tone":"positive"},{"label":"Risk pressure","value":"2.4%","detail":"Normal","tone":"neutral"},{"label":"Trend quality","value":"30.3","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":[5.045,5.118,4.9757,5.01,5.121,5.1125,5.1055,5.13,5.0565,5.3435,5.3895,5.4555,5.4185,5.4615,5.3945,5.5645,5.7265,5.6905,5.5905,5.8825,5.9115,5.966,5.946,5.6395,5.4995,5.4905,5.5065,5.6535,5.973,6.134,6.14,6.185,6.276,6.143,6.159,6.238,6.28,6.4765,6.5095,6.5615,6.494,6.4405,6.416,6.451,6.382,6.6345,6.668,6.4655],"stroke":"#10243b","width":2.1},{"label":"Fast trend","values":[null,null,null,null,5.0525,5.0634,5.071,5.0818,5.0772,5.1256,5.1736,5.2248,5.26,5.2967,5.3145,5.3599,5.4266,5.4746,5.4956,5.566,5.6288,5.6901,5.7366,5.719,5.6791,5.6448,5.6196,5.6258,5.6889,5.7698,5.8371,5.9004,5.9687,6.0004,6.0292,6.0672,6.1059,6.1733,6.2344,6.2939,6.3303,6.3503,6.3622,6.3784,6.379,6.4255,6.4696,6.4688],"stroke":"#176fa3","width":1.7},{"label":"Slow 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pressure and cumulative balance","description":"Observed activity is compared with its normal backdrop while cumulative balance tracks directional participation.","reason":"Selected because participation is confirming or diverging from the latest price path.","series":[{"label":"Activity versus norm","values":[null,null,null,null,null,null,null,1.0689,0.5151,0.0,0.0,438.819,0.0,0.0,0.3629,32.2428,21.8816,99.4915,337.7931,154.3365,364.7212,689.8194,165.8151,0.0826,0.0,0.0,0.0,173.7754,156.3233,857.8285,0.0505,49.1904,85.4443,43.956,40.139,3.1899,94.8296,0.0,0.0,0.0,0.0,0.1381,17.0739,1584.4547,268.2405,26.3156,0.0523,0.5155],"stroke":"#1678a7","width":1.8},{"label":"Cumulative 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Market Dynamics construction and private inputs are not disclosed. Historical research is not a forecast or instruction to trade."}