{"schema_version":"1.0","name":"NUG Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"062efa46-2451-4c27-b62c-a7f025fb93e4","symbol":"NUG","name":"Leverage Shares 2X Long NU Daily ETF","exchange":"NASDAQ","country":"US","asset_type":"etf","currency":"USD","sector":null,"industry":null},"summary":"Market Dynamics strengthened this week and remains positive. Underlying support has strengthened 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, Drawdown and recovery pressure, Activity pressure and cumulative balance, Acceleration, deceleration and rollover, Directional strength and control, Range pressure and compression."},{"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":40,"displayedObservations":40,"assetType":"ETF","state":"Rotational","stateTone":"caution","summary":"Market Dynamics strengthened this week and remains positive. Underlying support has strengthened across the recent completed path. Price structure remains rotational.","evidenceAlignment":{"status":"Positive support; price rotational","headline":"Market Dynamics is positive while price has no clear direction","summary":"Market Dynamics strengthened this week and remains positive. Underlying support has strengthened across the recent completed path. Price structure remains rotational.","take":"The underlying condition is constructive, but a positive price response is still required.","tone":"caution","conflict":true},"marketDynamics":{"available":true,"readAvailable":true,"dates":["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":[-0.477029,-0.604051,-0.541944,-0.393277,-0.23628,0.007369,0.102504,0.206508,0.300046,0.300041,0.448193,0.498627],"opens":[8.56,7.225,7.89,8.55,8.64,9.35,9.21,9.09,10.13,10.3,9.34,10.75],"highs":[8.885,7.49,9.14,8.85,9.59,9.86,9.93,10.3569,10.755,10.35,12.425,10.89],"lows":[6.4,6.814,7.64,7.54,8.49,8.791,8.99,9.09,9.6368,9.26,8.75,9.6],"closes":[7.2647,7.4493,8.1585,8.6945,9.2108,9.4086,9.1286,9.7957,10.0646,9.2814,11.165,10.1597],"hoverRows":[[{"label":"Open","value":"8.56","className":"is-ohlc","compact":true},{"label":"High","value":"8.88","className":"is-ohlc","compact":true},{"label":"Low","value":"6.40","className":"is-ohlc","compact":true},{"label":"Close","value":"7.26","className":"is-ohlc","compact":true},{"label":"Market 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Dynamics","value":"0.10","note":"Supportive and strengthening","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"9.09","className":"is-ohlc","compact":true},{"label":"High","value":"10.4","className":"is-ohlc","compact":true},{"label":"Low","value":"9.09","className":"is-ohlc","compact":true},{"label":"Close","value":"9.80","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.21","note":"Supportive and strengthening","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"10.1","className":"is-ohlc","compact":true},{"label":"High","value":"10.8","className":"is-ohlc","compact":true},{"label":"Low","value":"9.64","className":"is-ohlc","compact":true},{"label":"Close","value":"10.1","className":"is-ohlc","compact":true},{"label":"Market 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Dynamics","value":"0.45","note":"Supportive and strengthening","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"10.8","className":"is-ohlc","compact":true},{"label":"High","value":"10.9","className":"is-ohlc","compact":true},{"label":"Low","value":"9.60","className":"is-ohlc","compact":true},{"label":"Close","value":"10.2","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.50","note":"Supportive and strengthening","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}]],"pressureRange":[-2.3,2.3],"priceRange":[7.030682,11.399018],"zones":{"accumulationBoundary":-1.5,"accumulationDarkBoundary":-2.0,"distributionBoundary":1.5,"distributionDarkBoundary":2.0},"latest":0.498627,"state":"Positive and 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":12,"summary":"More completed weekly history is needed for a dependable ticker-level record."},"events":{"positioning_recoveries":[],"reversal_warnings":[],"reversal_dangers":[]}},"smTape":{"available":true,"dates":["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":[15.0873,18.925,16.482,16.7392,15.6177,16.3083,16.802,17.6612,15.8871,18.5829,17.9203,17.122,15.9308,17.2778,12.3481,11.5825,10.4707,10.5457,9.9617,10.6984,11.8663,12.4672,11.1453,10.9725,9.9497,7.7869,8.3559,8.901,7.2647,7.4493,8.1585,8.6945,9.2108,9.4086,9.1286,9.7957,10.0646,9.2814,11.165,10.1597],"consensus":[66.5039,100.0,-100.0,25.81,0.0,11.1523,30.3717,30.9279,-35.0287,73.0229,0.0,-14.4467,-27.6699,25.79,-75.2449,-55.2612,-63.7018,-41.1406,-59.0078,-18.2154,12.6263,11.1802,-35.2269,-19.5083,-54.9192,-71.8989,-20.9724,-13.4422,-62.8319,-11.86,0.0,0.0,18.1625,14.1966,-8.6264,28.4429,17.5723,-25.2778,54.5796,6.6586],"supportDates":["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,32.3576,37.3155,22.7091,-37.1636,67.845,0.0,-15.4575,-32.9498,38.0783,-63.6283,-46.9761,-67.9874,-37.5787,-63.0252,-12.7921,17.487,9.1399,-46.5136,-23.9941,-61.1032,-69.9058,-19.0663,-2.4938,-57.1636,-7.0133,0.0,0.0,11.0125,4.9584,-18.9132,21.7,10.0649,-33.6772,42.3892,11.5009],"force":[66.5039,100.0,-100.0,25.81,0.0,11.963,23.5852,20.8656,-73.6746,94.6883,0.0,-33.2576,-34.9842,47.6727,-96.3789,-42.0947,-54.958,-14.1397,-49.3649,-13.4411,40.3101,27.1526,-43.1709,-6.2191,-52.6077,-88.7662,-25.7023,-18.6704,-79.0785,-21.125,0.0,0.0,38.4553,23.8325,-15.5031,45.7125,16.4902,-45.3677,83.585,33.6438],"direction":[null,null,null,null,0.0,13.6613,27.2836,47.5081,-4.9845,63.4653,0.0,-0.1448,-16.4111,3.8842,-73.4253,-74.1343,-65.0496,-64.4976,-61.3043,-47.0252,12.7031,2.1031,-16.6535,-23.8741,-49.5029,-62.1287,-56.4898,-48.8922,-57.7053,-40.9599,0.0,0.0,11.839,17.8717,-8.0418,23.8135,26.9252,-1.3284,47.7934,18.1506],"intensity":[null,null,null,null,50.0,20.0,16.6667,71.4286,62.5,88.8889,50.0,63.6364,16.6667,23.0769,100.0,93.3333,12.5,23.5294,11.1111,15.7895,25.0,38.0952,40.9091,13.0435,20.8333,88.0,19.2308,18.5185,67.8571,51.7241,60.0,6.4516,25.0,3.0303,2.9412,17.1429,13.8889,29.7297,76.3158,58.9744],"confirmation":[43.9479,54.6667,54.6667,30.9259,25.1119,28.8514,77.4063,77.7155,57.6878,92.1065,32.3984,50.5451,76.9968,54.8944,92.8995,85.4086,88.0528,80.3964,86.5274,30.4809,30.1867,49.4289,79.3427,51.1026,85.4095,91.5521,33.4676,7.4727,88.6877,7.3705,31.4321,7.0535,74.5394,50.3107,27.1955,77.7308,73.7046,53.9065,86.5352,29.4182],"persistence":[null,null,33.3333,50.0,40.0,50.0,57.1429,62.5,37.5,37.5,50.0,25.0,12.5,12.5,12.5,37.5,37.5,62.5,75.0,75.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,50.0,75.0,100.0,87.5,75.0,50.0,25.0,25.0,0.0,25.0,25.0,37.5,37.5],"assessmentRisk":[null,null,null,null,12.3562,47.8755,6.953,8.1848,24.8554,5.1148,26.6175,7.5275,15.0905,45.0962,12.1368,22.1811,17.9432,29.3818,14.5032,14.2524,26.6216,34.4977,50.0242,18.5828,14.8756,13.7717,36.97,42.0388,18.1,10.4862,6.2883,12.9241,38.7881,41.2851,43.3542,27.7834,28.0158,5.5355,22.101,23.3061],"volumeParticipation":true,"latest":{"consensus":6.7,"control":11.5,"force":33.6,"direction":18.2,"confirmation":29.4,"persistence":37.5,"assessmentRisk":23.3,"intensity":59.0,"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":"Control support is limited","controlPath":"Control support is easing","forceState":"Upward commitment","forcePath":"Commitment is easing","directionState":"Upward follow-through","persistenceState":"Unsettled","confirmationState":"Limited support","riskState":"Contained","intensityState":"Normal"},"cards":[{"label":"SM Consensus Gauge","value":"+6.7","detail":"Market Dynamics has stronger support","tone":"positive"},{"label":"SM Control Gauge","value":"+11.5","detail":"Control support is limited","tone":"positive"},{"label":"SM Force Gauge","value":"+33.6","detail":"Upward commitment","tone":"positive"},{"label":"SM Direction Gauge","value":"+18.2","detail":"Upward follow-through","tone":"positive"},{"label":"SM Confirmation Gauge","value":"29/100","detail":"Limited support","tone":"caution"}]},"kpis":[{"label":"Price structure","value":"Rotational","detail":"completed-week alignment","tone":"caution"},{"label":"Momentum","value":"58.5","detail":"Positive","tone":"positive"},{"label":"Risk pressure","value":"16.2%","detail":"Contained","tone":"neutral"},{"label":"Trend quality","value":"19.6","detail":"Range-led","tone":"neutral"},{"label":"Range position","value":"36%","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 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Market Dynamics construction and private inputs are not disclosed. Historical research is not a forecast or instruction to trade."}