{"schema_version":"1.0","name":"BMNZ Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"064aa157-de01-469f-b209-073b7fca4745","symbol":"BMNZ","name":"DEFIANCE DAILY TARGET 2X SHORT BMNR ETF","exchange":"NYSEARCA","country":"US","asset_type":"etf","currency":"USD","sector":null,"industry":null},"summary":"Price structure and the underlying tape currently reinforce the same downside read.","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, Acceleration, deceleration and rollover, Activity pressure and cumulative balance, Range position and boundary pressure, 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":41,"displayedObservations":41,"assetType":"ETF","state":"Aligned downward","stateTone":"negative","summary":"Price structure and the underlying tape currently reinforce the same downside read.","evidenceAlignment":{"status":"Evidence aligned downward","headline":"Downward price structure is confirmed by Market Dynamics","summary":"Price structure and the underlying tape currently reinforce the same downside read.","take":"The downside state remains confirmed until Market Dynamics repairs or price structure changes.","tone":"negative","conflict":false},"marketDynamics":{"available":true,"readAvailable":true,"dates":["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":[-0.200058,-0.239941,-0.199742,-0.072301,0.10147,0.221169,0.316951,0.312785,0.310828,0.238085,0.072985,-0.11333,-0.298128],"opens":[17.43,19.08,21.69,19.56,21.46,28.9,26.03,23.98,19.25,17.04,14.73,11.97,12.58],"highs":[20.28,24.69,25.19,23.95,32.91,33.04,26.15,25.21,19.57,17.04,15.29,13.64,12.61],"lows":[16.12,17.2,19.88,17.875,19.26,22.85,19.67,17.361,14.44,12.92,11.25,11.85,7.07],"closes":[17.52,24.16,22.62,21.79,30.0,26.14,23.24,20.1,18.9,14.29,11.92,12.74,7.51],"hoverRows":[[{"label":"Open","value":"17.4","className":"is-ohlc","compact":true},{"label":"High","value":"20.3","className":"is-ohlc","compact":true},{"label":"Low","value":"16.1","className":"is-ohlc","compact":true},{"label":"Close","value":"17.5","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.20","note":"Cautious and weakening","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"19.1","className":"is-ohlc","compact":true},{"label":"High","value":"24.7","className":"is-ohlc","compact":true},{"label":"Low","value":"17.2","className":"is-ohlc","compact":true},{"label":"Close","value":"24.2","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.24","note":"Cautious and weakening","className":"is-negative","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":"25.2","className":"is-ohlc","compact":true},{"label":"Low","value":"19.9","className":"is-ohlc","compact":true},{"label":"Close","value":"22.6","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.20","note":"Cautious but repairing","className":"is-negative","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":"23.9","className":"is-ohlc","compact":true},{"label":"Low","value":"17.9","className":"is-ohlc","compact":true},{"label":"Close","value":"21.8","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.07","note":"Cautious but repairing","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"21.5","className":"is-ohlc","compact":true},{"label":"High","value":"32.9","className":"is-ohlc","compact":true},{"label":"Low","value":"19.3","className":"is-ohlc","compact":true},{"label":"Close","value":"30.0","className":"is-ohlc","compact":true},{"label":"Market 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":"28.9","className":"is-ohlc","compact":true},{"label":"High","value":"33.0","className":"is-ohlc","compact":true},{"label":"Low","value":"22.9","className":"is-ohlc","compact":true},{"label":"Close","value":"26.1","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.22","note":"Supportive and strengthening","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"26.0","className":"is-ohlc","compact":true},{"label":"High","value":"26.1","className":"is-ohlc","compact":true},{"label":"Low","value":"19.7","className":"is-ohlc","compact":true},{"label":"Close","value":"23.2","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.32","note":"Supportive and strengthening","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"24.0","className":"is-ohlc","compact":true},{"label":"High","value":"25.2","className":"is-ohlc","compact":true},{"label":"Low","value":"17.4","className":"is-ohlc","compact":true},{"label":"Close","value":"20.1","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.31","note":"Supportive but easing","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"19.2","className":"is-ohlc","compact":true},{"label":"High","value":"19.6","className":"is-ohlc","compact":true},{"label":"Low","value":"14.4","className":"is-ohlc","compact":true},{"label":"Close","value":"18.9","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.31","note":"Supportive but easing","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"17.0","className":"is-ohlc","compact":true},{"label":"High","value":"17.0","className":"is-ohlc","compact":true},{"label":"Low","value":"12.9","className":"is-ohlc","compact":true},{"label":"Close","value":"14.3","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.24","note":"Supportive but easing","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"14.7","className":"is-ohlc","compact":true},{"label":"High","value":"15.3","className":"is-ohlc","compact":true},{"label":"Low","value":"11.2","className":"is-ohlc","compact":true},{"label":"Close","value":"11.9","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.07","note":"Supportive but easing","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"12.0","className":"is-ohlc","compact":true},{"label":"High","value":"13.6","className":"is-ohlc","compact":true},{"label":"Low","value":"11.8","className":"is-ohlc","compact":true},{"label":"Close","value":"12.7","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.11","note":"Cautious and weakening","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"12.6","className":"is-ohlc","compact":true},{"label":"High","value":"12.6","className":"is-ohlc","compact":true},{"label":"Low","value":"7.07","className":"is-ohlc","compact":true},{"label":"Close","value":"7.51","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.30","note":"Cautious and weakening","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}]],"pressureRange":[-2.3,2.3],"priceRange":[6.1606,31.3494],"zones":{"accumulationBoundary":-1.5,"accumulationDarkBoundary":-2.0,"distributionBoundary":1.5,"distributionDarkBoundary":2.0},"latest":-0.298128,"state":"Negative and weakening","context":{"scenario":"negativeWeakening","latestDirection":"easing","fourWeekDirection":"weakening","now":{"label":"Easier this week","detail":"Market Dynamics weakened this week and remains below zero."},"fourWeek":{"label":"Weakened over four weeks","detail":"Underlying support has contracted 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":"Accumulation pressure","detail":"Price is within accumulation conditions, but the completed tape has not yet confirmed a recovery. The zone is a watch area rather than a directional signal.","tone":"negative"},"chartSummary":"Price is in the accumulation zone. The Market Dynamics bars show whether underlying conditions are repairing or continuing to weaken.","summary":"Price is within accumulation conditions, but the completed tape has not yet confirmed a recovery. The zone is a watch area rather than a directional signal.","annotations":[{"label":"Current tape relationship","value":"Accumulation pressure","detail":"Market Dynamics weakened this week and remains below zero.","tone":"negative"},{"label":"Price location","value":"Accumulation zone","detail":"Price is being tested for a confirmed recovery through the lower zone.","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":"Weakening","detail":"Underlying support has contracted across the recent completed path.","tone":"negative"}],"relationshipEvidence":{"available":false,"observations":13,"summary":"More completed weekly history is needed for a dependable ticker-level record."},"events":{"positioning_recoveries":[],"reversal_warnings":[],"reversal_dangers":[]}},"smTape":{"available":true,"dates":["2025-11-14","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":[26.75,42.67,21.67,17.8,16.21,17.95,22.09,16.77,17.27,15.72,17.93,22.21,27.06,24.45,26.43,27.64,26.24,21.5,19.02,23.59,20.63,16.69,14.12,14.65,15.08,14.4,16.96,18.37,17.52,24.16,22.62,21.79,30.0,26.14,23.24,20.1,18.9,14.29,11.92,12.74,7.51],"consensus":[69.8487,49.7876,-73.2382,-39.4603,-48.4188,-28.3869,12.7872,-42.066,0.0,-24.0434,-12.3705,30.6454,29.6647,0.0,22.7569,23.918,0.0,-21.0233,-17.7063,18.7055,-21.8335,-36.8197,-37.8741,-22.2215,-25.3528,-18.5411,16.8688,10.358,0.0,50.383,15.8816,15.2776,55.4711,0.0,0.0,-21.321,-14.6221,-49.22,-47.9104,-23.3728,-68.4092],"supportDates":["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,-18.2945,21.4642,-47.8359,0.0,-20.9111,-10.2218,27.7214,17.1616,0.0,14.4805,18.5481,0.0,-20.8925,-8.8276,30.1511,-21.0026,-39.9392,-39.6852,-17.183,-26.3289,-17.1997,20.5141,7.583,0.0,52.5404,9.934,12.3192,53.9094,0.0,0.0,-24.3724,-4.4672,-45.7558,-49.9632,-18.8195,-67.3182],"force":[69.8487,49.7876,-73.2382,-39.4603,-9.1077,-9.7559,26.7696,-49.3245,0.0,-16.201,-5.1572,45.6062,26.7649,0.0,13.444,16.349,0.0,-32.8365,-17.4836,34.6886,-26.0518,-39.8964,-35.8871,-5.053,-12.1692,-7.4683,35.6908,15.5639,0.0,56.7912,1.8608,9.0138,59.126,0.0,0.0,-31.1827,-10.2253,-61.1899,-42.1124,-0.7587,-86.0342],"direction":[null,null,null,null,-76.4981,-53.2291,7.1166,-30.2872,0.0,-33.2248,-27.3459,23.3008,46.0252,0.0,38.8678,35.4614,0.0,-12.7347,-28.0123,5.7918,-19.7701,-31.0567,-37.2237,-40.243,-33.6541,-27.9833,0.7414,9.811,0.0,43.3401,32.6936,23.1328,54.6453,0.0,0.0,-10.7896,-29.3684,-44.6292,-49.7058,-44.7296,-57.0667],"intensity":[null,null,null,null,25.0,20.0,16.6667,42.8571,50.0,11.1111,20.0,36.3636,83.3333,69.2308,14.2857,40.0,12.5,41.1765,55.5556,36.8421,20.0,38.0952,22.7273,8.6957,12.5,20.0,26.9231,37.037,3.5714,79.3103,30.0,16.129,84.375,42.4242,79.4118,37.1429,72.2222,56.7568,21.0526,7.6923,70.0],"confirmation":[45.0182,38.5987,46.1029,35.294,59.0303,76.6698,51.2374,81.5944,3.9733,75.5026,49.8906,78.307,77.5948,29.4479,75.1245,75.5049,24.9874,75.0895,73.7945,52.8674,75.128,79.8285,80.0316,51.9978,75.6962,50.9495,51.4076,48.8488,24.5803,84.285,50.0788,72.743,85.8859,6.1699,26.7177,75.0768,50.0332,84.168,83.1234,52.1928,98.4447],"persistence":[null,null,33.3333,0.0,20.0,33.3333,14.2857,25.0,37.5,62.5,62.5,37.5,12.5,0.0,0.0,25.0,25.0,25.0,25.0,25.0,0.0,12.5,37.5,62.5,75.0,75.0,50.0,50.0,37.5,12.5,12.5,37.5,62.5,75.0,62.5,37.5,25.0,0.0,25.0,50.0,75.0],"assessmentRisk":[null,null,null,null,9.157,34.2997,4.4887,16.0614,8.0126,0.0414,16.0118,13.0652,26.7238,39.4078,31.8432,35.1238,16.2293,25.8931,40.1082,51.4676,36.6301,26.677,26.2055,38.4947,34.999,26.6772,31.1135,39.3781,39.1389,24.5784,39.9021,33.7914,22.1961,24.7619,11.101,12.0174,42.5187,25.2186,25.7986,36.4748,15.5142],"volumeParticipation":true,"latest":{"consensus":-68.4,"control":-67.3,"force":-86.0,"direction":-57.1,"confirmation":98.4,"persistence":75.0,"assessmentRisk":15.5,"intensity":70.0,"evidenceDepth":100},"analysis":{"status":"Joint downward confirmation","headline":"The gauges support the downward market view","summary":"Price structure and Market Dynamics agree. Control, force and direction support the same downward assessment.","take":"Current assessment: downward pressure has broad support.","tone":"negative","supportedView":"Price structure and Market Dynamics","direction":"downward","disagreement":false},"support":{"window":"Latest 12 months","controlState":"Seller control supports the view","controlPath":"Control support is strengthening","forceState":"Downward commitment","forcePath":"Commitment is strengthening","directionState":"Downward follow-through","persistenceState":"Established","confirmationState":"Strong support","riskState":"Contained","intensityState":"Elevated"},"cards":[{"label":"SM Consensus Gauge","value":"-68.4","detail":"Joint downward confirmation","tone":"negative"},{"label":"SM Control Gauge","value":"-67.3","detail":"Seller control supports the view","tone":"negative"},{"label":"SM Force Gauge","value":"-86.0","detail":"Downward commitment","tone":"negative"},{"label":"SM Direction Gauge","value":"-57.1","detail":"Downward follow-through","tone":"negative"},{"label":"SM Confirmation Gauge","value":"98/100","detail":"Strong support","tone":"positive"}]},"kpis":[{"label":"Price structure","value":"Aligned downward","detail":"completed-week alignment","tone":"negative"},{"label":"Momentum","value":"49.3","detail":"Negative","tone":"negative"},{"label":"Risk pressure","value":"83.4%","detail":"Elevated","tone":"caution"},{"label":"Trend quality","value":"21.4","detail":"Range-led","tone":"neutral"},{"label":"Range position","value":"2%","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":[26.75,42.67,21.67,17.8,16.21,17.95,22.09,16.77,17.27,15.72,17.93,22.21,27.06,24.45,26.43,27.64,26.24,21.5,19.02,23.59,20.63,16.69,14.12,14.65,15.08,14.4,16.96,18.37,17.52,24.16,22.62,21.79,30.0,26.14,23.24,20.1,18.9,14.29,11.92,12.74,7.51],"stroke":"#10243b","width":2.1},{"label":"Fast trend","values":[null,null,null,null,24.4693,23.284,23.0669,21.922,21.0762,20.1023,19.7074,20.1624,21.4165,21.968,22.7793,23.6631,24.1316,23.6531,22.8107,22.9524,22.5302,21.4683,20.1323,19.1355,18.3981,17.6712,17.5419,17.6925,17.6611,18.8427,19.5295,19.9405,21.7695,22.5641,22.687,22.2167,21.6136,20.2821,18.7617,17.6668,15.8201],"stroke":"#176fa3","width":1.7},{"label":"Slow trend","values":[null,null,null,null,null,null,null,null,null,null,null,null,23.2137,23.3053,23.5367,23.8407,24.0184,23.8319,23.4754,23.4839,23.2725,22.7849,22.1431,21.588,21.106,20.6092,20.3389,20.1931,19.9951,20.3036,20.4752,20.5726,21.2709,21.6316,21.7507,21.6284,21.4263,20.8977,20.2327,19.6777,18.7764],"stroke":"#07865c","width":1.8},{"label":"Upper envelope","values":[null,null,null,null,null,null,null,null,null,37.0342,36.1279,35.5895,35.8171,35.5736,35.6042,35.7832,35.723,35.301,34.8803,34.6309,34.1931,28.6101,28.7765,28.9398,29.0079,29.1594,28.9623,28.9574,28.9553,29.324,29.5295,29.4957,30.1473,30.3916,29.9574,29.0181,28.2328,28.1975,28.4752,28.1243,28.6041],"stroke":"#98a9b8","width":1.0,"dash":[6,5]},{"label":"Lower 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Market Dynamics construction and private inputs are not disclosed. Historical research is not a forecast or instruction to trade."}