{"schema_version":"1.0","name":"QCO3 Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"02aa48e4-fb45-453a-bf54-f3848b6b1faa","symbol":"QCO3","name":"Leverage Shares 3x Long QUALCOMM (QCOM) ETP","exchange":"LSE","country":"GB","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, Drawdown and recovery pressure, 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":21,"displayedObservations":21,"assetType":"ETF","state":"Aligned downward","stateTone":"negative","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":["2026-04-03","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"],"values":[0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0],"opens":[8.93064,8.0275,8.93,10.55,15.87,18.245001,38.27,27.26,44.970001,38.290001,22.360001,30.120001,21.120001,14.485,16.43,10.715,12.675,11.585,7.395,11.095,10.495],"highs":[9.2874,9.135,10.715,14.0,24.084999,41.25,53.360001,44.759998,53.290001,40.490002,26.205,31.139999,22.955,14.9525,16.43,11.47,13.58,11.73,10.28,11.095,10.495],"lows":[8.85287,8.0275,8.93,10.445,12.415,17.684999,26.08,23.1,34.650002,33.275002,22.360001,30.120001,20.48,14.485,16.02,10.56,11.19,7.385,7.2125,9.605,8.69],"closes":[8.85287,9.285,10.815,13.0275,20.120001,41.075001,27.889999,43.18,49.02,33.275002,26.205,30.905001,21.567499,14.9525,16.395,11.0,11.295,7.465,10.28,9.8875,9.28],"hoverRows":[[{"label":"Open","value":"8.93","className":"is-ohlc","compact":true},{"label":"High","value":"9.29","className":"is-ohlc","compact":true},{"label":"Low","value":"8.85","className":"is-ohlc","compact":true},{"label":"Close","value":"8.85","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":"11.6","className":"is-ohlc","compact":true},{"label":"High","value":"11.7","className":"is-ohlc","compact":true},{"label":"Low","value":"7.38","className":"is-ohlc","compact":true},{"label":"Close","value":"7.46","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":"7.39","className":"is-ohlc","compact":true},{"label":"High","value":"10.3","className":"is-ohlc","compact":true},{"label":"Low","value":"7.21","className":"is-ohlc","compact":true},{"label":"Close","value":"10.3","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":"11.1","className":"is-ohlc","compact":true},{"label":"High","value":"11.1","className":"is-ohlc","compact":true},{"label":"Low","value":"9.61","className":"is-ohlc","compact":true},{"label":"Close","value":"9.89","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":"10.5","className":"is-ohlc","compact":true},{"label":"High","value":"10.5","className":"is-ohlc","compact":true},{"label":"Low","value":"8.69","className":"is-ohlc","compact":true},{"label":"Close","value":"9.28","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":[4.9717,51.5133],"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":"Across the displayed history, price has moved from the upper positioning area into the lower accumulation zone. Market Dynamics history is not yet sufficient to classify the move.","tone":"neutral"},"chartSummary":"Price is in the accumulation zone. The Market Dynamics bars show whether underlying conditions are repairing or continuing to weaken.","summary":"Across the displayed history, price has moved from the upper positioning area into the lower accumulation zone. Market Dynamics history is not yet sufficient to classify the move.","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":"Accumulation zone","detail":"Price is in the lower accumulation area. With limited Market Dynamics history, the zone describes location rather than a completed positioning signal.","tone":"caution"},{"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":[{"date":"2026-05-29","price":49.02}],"reversal_dangers":[{"date":"2026-06-12","price":26.205}]}},"smTape":{"available":true,"dates":["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":[8.8529,9.285,10.815,13.0275,20.12,41.075,27.89,43.18,49.02,33.275,26.205,30.905,21.5675,14.9525,16.395,11.0,11.295,7.465,10.28,9.8875,9.28],"consensus":[-100.0,100.0,100.0,45.2883,79.162,84.8231,10.9104,83.705,72.6281,-18.5279,0.0,19.008,-46.4422,-36.6857,-19.5849,-58.3603,-44.4265,-61.572,0.0,-34.7114,-33.6347],"supportDates":["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,92.0232,18.4424,80.0871,68.8049,-22.7462,0.0,40.1704,-36.5574,-20.8459,-2.2095,-44.4901,-48.4409,-68.0028,0.0,-41.7988,-36.8326],"force":[-100.0,100.0,100.0,45.2883,49.9908,57.8276,35.022,87.9994,62.9675,-57.2264,0.0,14.7552,-56.3444,-20.1264,-6.464,-63.6974,-18.616,-52.1144,0.0,-13.7748,-13.5859],"direction":[null,null,null,null,99.9986,95.8768,77.2652,84.7723,83.898,-13.9349,0.0,2.1398,-50.6663,-66.6163,-58.049,-70.3997,-58.2746,-60.9779,0.0,-41.5663,-44.3004],"intensity":[null,null,null,null,100.0,100.0,83.3333,85.7143,62.5,88.8889,70.0,36.3636,41.6667,38.4615,14.2857,33.3333,25.0,35.2941,27.7778,26.3158,10.0],"confirmation":[54.6667,54.6667,54.6667,37.1589,69.3316,94.211,36.6112,94.9716,91.0048,32.6835,24.6617,51.4203,83.3139,79.4761,29.7837,87.0493,81.3687,87.3168,32.8518,78.3616,55.0],"persistence":[null,null,33.3333,50.0,60.0,66.6667,71.4286,75.0,100.0,75.0,62.5,62.5,37.5,12.5,12.5,37.5,62.5,62.5,62.5,87.5,87.5],"assessmentRisk":[null,null,null,null,10.4045,7.5651,41.2716,7.869,13.4441,20.9273,6.6275,50.69,26.2361,28.8599,27.1868,18.6563,15.5538,0.3856,28.144,10.0742,0.35],"volumeParticipation":true,"latest":{"consensus":-33.6,"control":-36.8,"force":-13.6,"direction":-44.3,"confirmation":55.0,"persistence":87.5,"assessmentRisk":0.3,"intensity":10.0,"evidenceDepth":81},"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 downward price structure.","take":"Current assessment: follow price structure with limited confirmation.","tone":"negative","supportedView":"Price structure","direction":"downward","disagreement":false},"support":{"window":"Latest 12 months","controlState":"Seller control supports the view","controlPath":"Control support is easing","forceState":"Downward commitment","forcePath":"Broadly stable","directionState":"Downward follow-through","persistenceState":"Established","confirmationState":"Qualified support","riskState":"Contained","intensityState":"Quiet"},"cards":[{"label":"SM Consensus Gauge","value":"-33.6","detail":"Price structure has the available support","tone":"negative"},{"label":"SM Control Gauge","value":"-36.8","detail":"Seller control supports the view","tone":"negative"},{"label":"SM Force Gauge","value":"-13.6","detail":"Downward commitment","tone":"negative"},{"label":"SM Direction Gauge","value":"-44.3","detail":"Downward follow-through","tone":"negative"},{"label":"SM Confirmation Gauge","value":"55/100","detail":"Qualified support","tone":"neutral"}]},"kpis":[{"label":"Price structure","value":"Aligned downward","detail":"completed-week alignment","tone":"negative"},{"label":"Momentum","value":"44.7","detail":"Negative","tone":"negative"},{"label":"Risk pressure","value":"62.3%","detail":"Normal","tone":"neutral"},{"label":"Trend quality","value":"-","detail":"Developing","tone":"neutral"},{"label":"Range position","value":"4%","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 downward.","series":[{"label":"Close","values":[8.8529,9.285,10.815,13.0275,20.12,41.075,27.89,43.18,49.02,33.275,26.205,30.905,21.5675,14.9525,16.395,11.0,11.295,7.465,10.28,9.8875,9.28],"stroke":"#10243b","width":2.1},{"label":"Fast trend","values":[null,null,null,null,11.8043,17.1263,19.0833,23.4645,28.111,29.0499,28.5326,28.964,27.6192,25.3161,23.6941,21.3861,19.5513,17.3538,16.0677,14.944,13.9142],"stroke":"#176fa3","width":1.7},{"label":"Slow trend","values":[null,null,null,null,null,null,null,null,null,null,null,null,20.7307,20.3027,20.0133,19.3456,18.7493,17.9134,17.348,16.7953,16.2386],"stroke":"#07865c","width":1.8},{"label":"Upper envelope","values":[null,null,null,null,null,null,null,null,null,54.7366,53.4351,52.8431,51.5592,50.467,49.4023,48.6299,47.8394,47.2861,46.5468,45.8429,45.824],"stroke":"#98a9b8","width":1.0,"dash":[6,5]},{"label":"Lower envelope","values":[null,null,null,null,null,null,null,null,null,-3.4285,-2.0268,-0.568,0.0128,-0.4427,-0.527,-1.4342,-2.0911,-3.2499,-3.7462,-4.1936,-4.132],"stroke":"#98a9b8","width":1.0,"dash":[6,5]}],"guides":[],"dates":["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"]},{"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 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Market Dynamics construction and private inputs are not disclosed. Historical research is not a forecast or instruction to trade."}