{"schema_version":"1.0","name":"BLSG Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"16f71b00-7c5c-4cea-b6e7-ae4a616d0ede","symbol":"BLSG","name":"LEVERAGE SHARES 2X LONG BLSH DAILY 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 has not yet established a clear direction.","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, Range pressure and compression, Range position and boundary pressure, Directional strength and control."},{"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":43,"displayedObservations":43,"assetType":"ETF","state":"Rotational","stateTone":"caution","summary":"Market Dynamics improved this week but remains below zero. Underlying support has strengthened across the recent completed path. Price has not yet established a clear direction.","evidenceAlignment":{"status":"Repair in progress","headline":"Market Dynamics is improving while price remains rotational","summary":"Market Dynamics improved this week but remains below zero. Underlying support has strengthened across the recent completed path. Price has not yet established a clear direction.","take":"Treat the repair as constructive context until price confirms it.","tone":"caution","conflict":true},"marketDynamics":{"available":true,"readAvailable":true,"dates":["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":[0.385047,0.524871,0.538985,0.406176,0.227521,0.04279,-0.210927,-0.42787,-0.528208,-0.635756,-0.54905,-0.481926,-0.46974,-0.404391,-0.221298],"opens":[6.63,4.24,4.29,3.92,2.5,2.73,1.83,1.74,1.95,1.8,1.5,1.7,1.48,1.67,1.66],"highs":[7.1,4.9,4.5101,3.92,2.62,2.85,2.132149,2.27,2.25,2.0,1.88,1.73,1.68,2.2799,2.59],"lows":[4.37,4.105,3.8,2.385,2.235,1.77,1.51,1.5754,1.81,1.51,1.4613,1.26,1.48,1.62,1.62],"closes":[4.4041,4.2645,4.1526,2.41,2.4269,1.84,1.7006,2.04,1.82,1.5252,1.71,1.4175,1.64,1.6852,2.5739],"hoverRows":[[{"label":"Open","value":"6.63","className":"is-ohlc","compact":true},{"label":"High","value":"7.10","className":"is-ohlc","compact":true},{"label":"Low","value":"4.37","className":"is-ohlc","compact":true},{"label":"Close","value":"4.40","className":"is-ohlc","compact":true},{"label":"Market 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repairing","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"1.67","className":"is-ohlc","compact":true},{"label":"High","value":"2.28","className":"is-ohlc","compact":true},{"label":"Low","value":"1.62","className":"is-ohlc","compact":true},{"label":"Close","value":"1.69","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.40","note":"Cautious but repairing","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"1.66","className":"is-ohlc","compact":true},{"label":"High","value":"2.59","className":"is-ohlc","compact":true},{"label":"Low","value":"1.62","className":"is-ohlc","compact":true},{"label":"Close","value":"2.57","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.22","note":"Cautious but repairing","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}]],"pressureRange":[-2.3,2.3],"priceRange":[1.238304,4.583296],"zones":{"accumulationBoundary":-1.5,"accumulationDarkBoundary":-2.0,"distributionBoundary":1.5,"distributionDarkBoundary":2.0},"latest":-0.221298,"state":"Negative but repairing over four 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":"Underlying pressure is repairing","detail":"Market Dynamics remains below zero, but it has improved across the recent completed path. This is an early repair watch until price confirms it.","tone":"caution"},"chartSummary":"Price is between the outer positioning zones. The Market Dynamics bars show whether underlying support is strengthening or weakening.","summary":"Market Dynamics remains below zero, but it has improved across the recent completed path. This is an early repair watch until price confirms it.","annotations":[{"label":"Current tape relationship","value":"Underlying pressure is repairing","detail":"Market Dynamics improved this week but remains below zero.","tone":"caution"},{"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":"Repairing","detail":"Underlying support has strengthened across the recent completed path.","tone":"positive"}],"relationshipEvidence":{"available":false,"observations":15,"summary":"More completed weekly history is needed for a dependable ticker-level record."},"events":{"positioning_recoveries":[],"reversal_warnings":[],"reversal_dangers":[]}},"smTape":{"available":true,"dates":["2025-10-31","2025-11-07","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":[12.9794,10.1731,7.158,7.11,8.9974,10.0851,8.7667,9.1504,7.63,6.9594,6.5562,6.7119,5.56,3.91,3.19,4.1284,4.1297,3.9953,4.8678,5.2791,5.65,4.5224,4.98,4.9562,6.9848,5.8638,5.5395,6.6291,4.4041,4.2645,4.1526,2.41,2.4269,1.84,1.7006,2.04,1.82,1.5252,1.71,1.4175,1.64,1.6852,2.5739],"consensus":[-76.9484,-50.7765,-99.5789,30.8511,-28.8415,0.0,-24.7754,10.4507,-44.1584,-36.4391,-42.5308,-24.234,-49.3204,-67.1404,-52.0969,-12.4058,-24.8318,-19.6356,9.2427,0.0,0.0,-36.6737,9.0448,-13.7335,53.8561,-10.9934,0.0,37.5414,-53.9078,-27.536,-21.7896,-68.2611,-30.2004,-57.7854,-39.639,-11.7211,-39.2032,-40.2401,-9.9093,-37.2491,0.0,-17.7697,-43.5177],"supportDates":["2025-10-31","2025-11-07","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,0.0,-41.2798,11.5124,-47.5107,-30.3661,-44.6206,-17.3978,-51.1361,-66.0038,-43.2511,-5.7388,-24.2794,-24.3433,2.8793,0.0,0.0,-41.3746,11.9717,-19.0042,52.1627,-22.9732,0.0,23.6003,-49.2231,-29.0433,-19.5615,-69.6476,-28.3838,-59.0643,-39.678,-10.6824,-48.7381,-52.0419,-14.097,-38.9475,0.0,-28.0918,-37.7936],"force":[-76.9484,-50.7765,-99.5789,30.8511,-17.2228,0.0,-19.9578,23.7004,-45.1384,-23.4363,-29.0026,-2.3023,-40.4023,-71.3009,-44.2902,-39.6782,-5.6816,-2.9052,34.5851,0.0,0.0,-67.9478,23.2406,-13.3288,77.0485,-38.0809,0.0,63.286,-91.9318,-22.1087,-14.7653,-89.8633,-8.4165,-63.3189,-21.3851,-18.1023,-25.8035,-27.8984,-19.7153,-34.1655,0.0,-4.3438,-84.117],"direction":[null,null,null,null,-61.7445,0.0,-9.3543,0.2266,-39.6273,-52.6673,-49.8055,-47.7122,-53.6153,-65.4676,-67.7827,-57.2282,-39.1418,-26.2057,1.5866,0.0,0.0,-8.9626,4.4401,-7.9988,39.2253,-22.0461,0.0,35.0851,-32.1019,-29.69,-29.3533,-51.2464,-47.8364,-52.3713,-52.6329,-34.2108,-37.8774,-35.568,-26.2837,-37.5105,0.0,-15.5629,-21.06],"intensity":[null,null,null,null,25.0,20.0,16.6667,14.2857,37.5,66.6667,10.0,18.1818,25.0,53.8462,57.1429,20.0,12.5,5.8824,33.3333,26.3158,20.0,38.0952,36.3636,26.087,83.3333,40.0,34.6154,88.8889,85.7143,82.7586,6.6667,67.7419,53.125,15.1515,17.6471,5.7143,5.5556,8.1081,2.6316,10.2564,7.5,29.2683,42.8571],"confirmation":[47.2902,38.9151,54.5319,32.539,12.6348,27.1558,75.5298,49.1135,82.1095,79.3568,81.1657,52.524,83.4831,89.629,84.5679,10.9488,52.7043,51.0351,26.8321,24.9835,49.571,80.6171,49.5629,49.6354,85.9666,31.5307,24.3289,81.0103,86.4807,76.6232,74.7925,90.4808,77.0279,86.6405,80.1276,29.3862,79.9914,80.3209,29.0769,79.7998,4.4067,50.4532,83.2502],"persistence":[null,null,100.0,50.0,60.0,50.0,57.1429,37.5,37.5,37.5,37.5,62.5,62.5,75.0,75.0,100.0,100.0,100.0,75.0,62.5,50.0,50.0,25.0,25.0,0.0,0.0,12.5,0.0,12.5,12.5,37.5,37.5,62.5,62.5,75.0,100.0,100.0,100.0,100.0,100.0,87.5,87.5,62.5],"assessmentRisk":[null,null,null,null,33.621,5.7886,47.4674,35.8935,11.6303,29.9252,23.7802,34.5728,20.4687,15.2909,23.5439,43.0742,31.4228,14.7754,43.6498,41.878,44.5262,48.0719,2.6245,12.7989,17.143,49.6888,28.3348,29.389,22.3375,31.755,32.5342,15.8196,32.2426,19.9599,29.2052,10.974,6.3696,1.9555,5.5314,13.5424,8.9426,24.2808,23.3527],"volumeParticipation":true,"latest":{"consensus":-43.5,"control":-37.8,"force":-84.1,"direction":-21.1,"confirmation":83.3,"persistence":62.5,"assessmentRisk":23.4,"intensity":42.9,"evidenceDepth":100},"analysis":{"status":"Market Dynamics has stronger support","headline":"The gauges support the downward view","summary":"The completed evidence gives the downward view the clearer support.","take":"Current assessment: downward pressure has the stronger support.","tone":"negative","supportedView":"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":"Normal"},"cards":[{"label":"SM Consensus Gauge","value":"-43.5","detail":"Market Dynamics has stronger support","tone":"negative"},{"label":"SM Control Gauge","value":"-37.8","detail":"Seller control supports the view","tone":"negative"},{"label":"SM Force Gauge","value":"-84.1","detail":"Downward commitment","tone":"negative"},{"label":"SM Direction Gauge","value":"-21.1","detail":"Downward follow-through","tone":"negative"},{"label":"SM Confirmation Gauge","value":"83/100","detail":"Strong support","tone":"positive"}]},"kpis":[{"label":"Price structure","value":"Rotational","detail":"completed-week alignment","tone":"caution"},{"label":"Momentum","value":"34.0","detail":"Negative","tone":"negative"},{"label":"Risk pressure","value":"43.1%","detail":"Contained","tone":"neutral"},{"label":"Trend quality","value":"22.1","detail":"Range-led","tone":"neutral"},{"label":"Range position","value":"18%","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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