{"schema_version":"1.0","name":"QBTZ Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"10720fd3-3f88-4c8c-b6cc-668745b577a3","symbol":"QBTZ","name":"Defiance Daily Target 2x Short QBTS ETF","exchange":"NASDAQ","country":"US","asset_type":"etf","currency":"USD","sector":null,"industry":null},"summary":"Market Dynamics improved this week but remains below zero. Underlying support has strengthened across the recent completed path. Price structure remains downward.","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, Range position and boundary pressure, Range pressure and compression, Activity pressure and cumulative balance, 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":46,"displayedObservations":46,"assetType":"ETF","state":"Aligned downward","stateTone":"negative","summary":"Market Dynamics improved this week but remains below zero. Underlying support has strengthened across the recent completed path. Price structure remains downward.","evidenceAlignment":{"status":"Countertrend conflict","headline":"Improving Market Dynamics is challenging the downward price structure","summary":"Market Dynamics improved this week but remains below zero. Underlying support has strengthened across the recent completed path. Price structure remains downward.","take":"This is an early challenge rather than a confirmed reversal. Price must respond to the improvement before the downward technical state can be considered resolved.","tone":"caution","conflict":true},"marketDynamics":{"available":true,"readAvailable":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"],"values":[-0.231167,-0.369695,-0.541948,-0.589888,-0.630818,-0.658894,-0.617363,-0.61074,-0.619646,-0.592578,-0.60383,-0.633038,-0.635061,-0.538056,-0.427561,-0.245516,-0.085067,-0.040291],"opens":[16.69,21.0,15.59,12.39,14.36,3.6,3.55,4.43,4.095,3.84,4.16,4.18,5.1,6.55,5.5,4.385,3.07,2.93],"highs":[21.41,23.21,16.08,14.12,17.96,4.5285,4.96,5.08,4.65,5.07,4.405,4.985,7.35,7.035,5.805,4.42,3.265,3.65],"lows":[15.0,15.3101,10.76,9.71,2.724,3.23,2.975,3.6502,3.2,3.17,3.57,3.745,5.1,5.75,4.0,2.775,2.675,2.785],"closes":[20.4,15.54,12.01,14.0,3.51,3.27,4.82,4.74,3.82,4.29,4.2,4.93,6.81,7.01,4.41,2.98,2.83,2.92],"hoverRows":[[{"label":"Open","value":"16.7","className":"is-ohlc","compact":true},{"label":"High","value":"21.4","className":"is-ohlc","compact":true},{"label":"Low","value":"15.0","className":"is-ohlc","compact":true},{"label":"Close","value":"20.4","className":"is-ohlc","compact":true},{"label":"Market 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weeks","context":{"scenario":"negativeRepair","latestDirection":"strengthening","fourWeekDirection":"strengthening","now":{"label":"Stronger this week","detail":"Market Dynamics improved this week but remains below zero."},"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":"Accumulation repair watch","detail":"Price is within accumulation conditions while Market Dynamics is improving. A green marker is required before the recovery is treated as confirmed.","tone":"caution"},"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 while Market Dynamics is improving. A green marker is required before the recovery is treated as confirmed.","annotations":[{"label":"Current tape relationship","value":"Accumulation repair watch","detail":"Market Dynamics improved this week but remains below zero.","tone":"caution"},{"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":"Repairing","detail":"Underlying support has strengthened across the recent completed path.","tone":"positive"}],"relationshipEvidence":{"available":false,"observations":18,"summary":"More completed weekly history is needed for a dependable ticker-level 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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":"Developing","confirmationState":"Strong support","riskState":"Contained","intensityState":"Quiet"},"cards":[{"label":"SM Consensus Gauge","value":"-25.4","detail":"Joint downward confirmation","tone":"negative"},{"label":"SM Control Gauge","value":"-31.7","detail":"Seller control supports the view","tone":"negative"},{"label":"SM Force Gauge","value":"-13.1","detail":"Downward commitment","tone":"negative"},{"label":"SM Direction 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