{"schema_version":"1.0","name":"WCMG Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"f818b978-90ff-428f-8b86-63911540cdf6","symbol":"WCMG","name":"FIRST TRUST WCM GLOBAL EQUITY ETF","exchange":"NYSEARCA","country":"US","asset_type":"etf","currency":"USD","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, Completed returns and cumulative progression, Range expansion and closing direction, Range pressure and compression, Activity pressure and cumulative balance, Range position and boundary 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":18,"displayedObservations":18,"assetType":"ETF","state":"Aligned upward","stateTone":"positive","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":["2026-04-24","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":[0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0],"opens":[19.95,19.63,20.24,20.4819,20.64,21.06,21.395,20.7451,21.81,21.7197,21.2,21.76,21.31,20.94,21.0904,21.45,21.69,22.23],"highs":[19.95,20.13,20.89,20.79,20.8893,21.2258,21.495,21.2229,21.825,21.7197,21.77,21.8064,21.39,22.2999,21.3452,22.03,22.19,22.23],"lows":[19.6524,19.4695,20.24,20.38,20.3932,21.03,20.805,20.4177,21.6948,21.165,21.2,21.33,20.82,20.8653,20.79,21.45,21.673,21.5975],"closes":[19.6568,20.1209,20.4323,20.4766,20.865,21.2258,20.805,21.2229,21.6948,21.2403,21.4913,21.5526,20.8378,20.991,21.3452,21.717,22.1832,21.7466],"hoverRows":[[{"label":"Open","value":"19.9","className":"is-ohlc","compact":true},{"label":"High","value":"19.9","className":"is-ohlc","compact":true},{"label":"Low","value":"19.7","className":"is-ohlc","compact":true},{"label":"Close","value":"19.7","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}],[{"label":"Open","value":"19.6","className":"is-ohlc","compact":true},{"label":"High","value":"20.1","className":"is-ohlc","compact":true},{"label":"Low","value":"19.5","className":"is-ohlc","compact":true},{"label":"Close","value":"20.1","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}],[{"label":"Open","value":"20.2","className":"is-ohlc","compact":true},{"label":"High","value":"20.9","className":"is-ohlc","compact":true},{"label":"Low","value":"20.2","className":"is-ohlc","compact":true},{"label":"Close","value":"20.4","className":"is-ohlc","compact":true},{"label":"Market 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Dynamics","value":"Unavailable","note":"Insufficient completed history","className":"is-muted","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"21.7","className":"is-ohlc","compact":true},{"label":"High","value":"21.7","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}],[{"label":"Open","value":"21.2","className":"is-ohlc","compact":true},{"label":"High","value":"21.8","className":"is-ohlc","compact":true},{"label":"Low","value":"21.2","className":"is-ohlc","compact":true},{"label":"Close","value":"21.5","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}],[{"label":"Open","value":"21.8","className":"is-ohlc","compact":true},{"label":"High","value":"21.8","className":"is-ohlc","compact":true},{"label":"Low","value":"21.3","className":"is-ohlc","compact":true},{"label":"Close","value":"21.6","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}],[{"label":"Open","value":"21.3","className":"is-ohlc","compact":true},{"label":"High","value":"21.4","className":"is-ohlc","compact":true},{"label":"Low","value":"20.8","className":"is-ohlc","compact":true},{"label":"Close","value":"20.8","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}],[{"label":"Open","value":"20.9","className":"is-ohlc","compact":true},{"label":"High","value":"22.3","className":"is-ohlc","compact":true},{"label":"Low","value":"20.9","className":"is-ohlc","compact":true},{"label":"Close","value":"21.0","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"Unavailable","note":"Insufficient completed history","className":"is-muted","wide":true},{"label":"Signal / event","value":"Reversal warning","className":"is-caution","wide":true}],[{"label":"Open","value":"21.1","className":"is-ohlc","compact":true},{"label":"High","value":"21.3","className":"is-ohlc","compact":true},{"label":"Low","value":"20.8","className":"is-ohlc","compact":true},{"label":"Close","value":"21.3","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"Unavailable","note":"Insufficient completed history","className":"is-muted","wide":true},{"label":"Signal / event","value":"Reversal danger","className":"is-negative","wide":true}],[{"label":"Open","value":"21.4","className":"is-ohlc","compact":true},{"label":"High","value":"22.0","className":"is-ohlc","compact":true},{"label":"Low","value":"21.4","className":"is-ohlc","compact":true},{"label":"Close","value":"21.7","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}],[{"label":"Open","value":"21.7","className":"is-ohlc","compact":true},{"label":"High","value":"22.2","className":"is-ohlc","compact":true},{"label":"Low","value":"21.7","className":"is-ohlc","compact":true},{"label":"Close","value":"22.2","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}],[{"label":"Open","value":"22.2","className":"is-ohlc","compact":true},{"label":"High","value":"22.2","className":"is-ohlc","compact":true},{"label":"Low","value":"21.6","className":"is-ohlc","compact":true},{"label":"Close","value":"21.7","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":[19.505216,22.334784],"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":18,"summary":"More completed weekly history is needed for a dependable ticker-level record."},"events":{"positioning_recoveries":[],"reversal_warnings":[{"date":"2026-05-22","price":20.865},{"date":"2026-07-24","price":20.991}],"reversal_dangers":[{"date":"2026-05-29","price":21.2258},{"date":"2026-07-31","price":21.3452}]}},"smTape":{"available":true,"dates":["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":[19.6568,20.1209,20.4323,20.4766,20.865,21.2258,20.805,21.2229,21.6948,21.2403,21.4913,21.5526,20.8378,20.991,21.3452,21.717,22.1832,21.7466],"consensus":[-97.043,97.2445,-40.8308,-30.6693,76.4592,70.8853,0.0,71.4007,51.9326,0.0,54.5268,32.7223,-51.1451,0.0,42.3999,48.7562,68.8019,1.0859],"supportDates":["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,79.0913,0.0,66.3498,27.5741,0.0,46.744,24.7171,-41.3668,0.0,45.0258,41.7609,72.8132,11.7157],"force":[-97.043,97.2445,-40.8308,-30.6693,45.6975,44.4517,0.0,76.6985,54.3264,0.0,47.3949,8.0502,-93.3479,0.0,69.5417,63.2077,79.1969,44.212],"direction":[null,null,null,null,98.4318,80.3883,0.0,73.3891,78.061,0.0,68.5155,59.4941,-32.1754,0.0,20.0121,46.4285,56.7926,41.8669],"intensity":[null,null,null,null,50.0,80.0,50.0,42.8571,100.0,66.6667,20.0,9.0909,83.3333,92.3077,92.8571,66.6667,50.0,41.1765],"confirmation":[53.7204,53.7849,35.7325,32.4808,68.394,89.7527,34.8813,91.0867,85.0626,35.3771,85.3498,77.8412,85.8016,25.2884,82.3551,84.149,90.2723,33.0981],"persistence":[null,null,33.3333,50.0,20.0,0.0,0.0,12.5,37.5,25.0,50.0,75.0,50.0,37.5,50.0,50.0,50.0,50.0],"assessmentRisk":[null,null,null,null,11.7704,14.5573,39.5753,13.7011,23.7377,5.679,21.1589,22.4329,23.1902,30.5759,40.0128,3.6304,15.5081,48.2192],"volumeParticipation":true,"latest":{"consensus":1.1,"control":11.7,"force":44.2,"direction":41.9,"confirmation":33.1,"persistence":50.0,"assessmentRisk":48.2,"intensity":41.2,"evidenceDepth":69},"analysis":{"status":"Price structure has the available support","headline":"The gauges support the price-technical view","summary":"Market Dynamics does not provide a directional confirmation. The completed evidence supports the upward price structure.","take":"Current assessment: follow price structure with limited confirmation.","tone":"positive","supportedView":"Price structure","direction":"upward","disagreement":false},"support":{"window":"Latest 12 months","controlState":"Control support is limited","controlPath":"Control support is strengthening","forceState":"Upward commitment","forcePath":"Commitment is strengthening","directionState":"Upward follow-through","persistenceState":"Developing","confirmationState":"Limited support","riskState":"Present","intensityState":"Normal"},"cards":[{"label":"SM Consensus Gauge","value":"+1.1","detail":"Price structure has the available support","tone":"positive"},{"label":"SM Control Gauge","value":"+11.7","detail":"Control support is limited","tone":"positive"},{"label":"SM Force Gauge","value":"+44.2","detail":"Upward commitment","tone":"positive"},{"label":"SM Direction Gauge","value":"+41.9","detail":"Upward follow-through","tone":"positive"},{"label":"SM Confirmation Gauge","value":"33/100","detail":"Limited support","tone":"caution"}]},"kpis":[{"label":"Price structure","value":"Aligned upward","detail":"completed-week alignment","tone":"positive"},{"label":"Momentum","value":"75.4","detail":"Stretched positive","tone":"positive"},{"label":"Risk pressure","value":"2.6%","detail":"Elevated","tone":"caution"},{"label":"Trend quality","value":"-","detail":"Developing","tone":"neutral"},{"label":"Range position","value":"80%","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 upward.","series":[{"label":"Close","values":[19.6568,20.1209,20.4323,20.4766,20.865,21.2258,20.805,21.2229,21.6948,21.2403,21.4913,21.5526,20.8378,20.991,21.3452,21.717,22.1832,21.7466],"stroke":"#10243b","width":2.1},{"label":"Fast trend","values":[null,null,null,null,20.139,20.3366,20.4218,20.5674,20.7724,20.8575,20.9727,21.0782,21.0345,21.0266,21.0845,21.1995,21.3783,21.4453],"stroke":"#176fa3","width":1.7},{"label":"Slow trend","values":[null,null,null,null,null,null,null,null,null,null,null,null,20.5153,20.5506,20.6094,20.6915,20.802,20.8719],"stroke":"#07865c","width":1.8},{"label":"Upper envelope","values":[null,null,null,null,null,null,null,null,null,21.9334,22.019,22.0951,22.0439,22.0102,22.0249,22.1056,22.2809,22.3267],"stroke":"#98a9b8","width":1.0,"dash":[6,5]},{"label":"Lower envelope","values":[null,null,null,null,null,null,null,null,null,19.6147,19.6595,19.7023,19.7441,19.7917,19.8363,19.8538,19.8201,19.8517],"stroke":"#98a9b8","width":1.0,"dash":[6,5]}],"guides":[],"dates":["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"]},{"key":"returns","eyebrow":"Observed return path","title":"Completed returns and cumulative progression","description":"Period returns are shown beside the total move recorded across the available tape.","reason":"Selected because direct returns remain fully observable while longer indicators develop.","series":[{"label":"Period return","values":[null,2.361,1.5476,0.2168,1.8968,1.7292,-1.9825,2.0087,2.2235,-2.095,1.1817,0.2852,-3.3165,0.7352,1.6874,1.7418,2.1467,-1.9682],"stroke":"#176fa3","width":1.7},{"label":"Cumulative progression","values":[0.0,2.361,3.9452,4.1706,6.1465,7.982,5.8412,7.9672,10.3679,8.0557,9.3326,9.6445,6.0081,6.7875,8.5894,10.4809,12.8525,10.6314],"stroke":"#07865c","width":2.0}],"guides":[{"label":"Starting level","values":[0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0],"stroke":"#8fa0af","width":1.0,"dash":[6,5]}],"dates":["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"]},{"key":"bar_range","eyebrow":"Completed-bar anatomy","title":"Range expansion and closing direction","description":"The completed range and open-to-close direction expose expansion, compression and control.","reason":"Selected because these measures use every completed bar and do not require a long history.","series":[{"label":"Completed 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