{"schema_version":"1.0","name":"KLA3 Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"19c885c8-a33d-4916-b305-f22b1fa1ebf6","symbol":"KLA3","name":"Leverage Shares 3x Long KLAC 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, Acceleration, deceleration and rollover, 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":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":[7.897,10.295,14.9525,16.355,18.674999,14.555,17.885,14.2825,18.645,22.975,31.959999,38.009998,33.52,26.68,19.93,16.23,16.225,16.475,9.0825,12.555,13.21],"highs":[10.33654,15.315,16.73,19.6525,18.674999,16.379999,18.105,16.530001,22.58,22.975,35.990002,38.150002,34.139999,27.504999,20.355,16.23,17.145,16.475,11.77,14.33,13.21],"lows":[7.897,10.295,14.4375,16.290001,12.94,14.555,15.93,13.51,18.645,20.254999,31.719999,35.0,30.795,25.51,19.084999,15.54,15.43,7.715,8.49625,10.84,8.93375],"closes":[10.27067,15.4425,15.7625,19.6525,14.3225,17.252501,16.555,17.985001,18.885,20.254999,35.990002,36.099998,30.795,27.504999,20.355,15.54,16.0375,9.34625,11.4725,12.31,8.93375],"hoverRows":[[{"label":"Open","value":"7.90","className":"is-ohlc","compact":true},{"label":"High","value":"10.3","className":"is-ohlc","compact":true},{"label":"Low","value":"7.90","className":"is-ohlc","compact":true},{"label":"Close","value":"10.3","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":"12.6","className":"is-ohlc","compact":true},{"label":"High","value":"14.3","className":"is-ohlc","compact":true},{"label":"Low","value":"10.8","className":"is-ohlc","compact":true},{"label":"Close","value":"12.3","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":"13.2","className":"is-ohlc","compact":true},{"label":"High","value":"13.2","className":"is-ohlc","compact":true},{"label":"Low","value":"8.93","className":"is-ohlc","compact":true},{"label":"Close","value":"8.93","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":[7.303775,37.729973],"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":"2026-06-19","price":36.099998}],"reversal_dangers":[{"date":"2026-06-19","price":36.099998},{"date":"2026-06-26","price":30.795}]}},"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":[10.2707,15.4425,15.7625,19.6525,14.3225,17.2525,16.555,17.985,18.885,20.255,35.99,36.1,30.795,27.505,20.355,15.54,16.0375,9.3462,11.4725,12.31,8.9337],"consensus":[94.5998,100.0,15.5943,100.0,22.0576,56.8276,12.3431,40.4656,33.0725,25.8144,89.3045,41.1019,0.0,32.2615,-30.8755,-73.7042,-33.2784,-76.256,-8.471,-26.1614,-73.5159],"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,65.9697,4.142,48.3284,17.8562,9.8807,91.766,26.3383,0.0,30.8968,-16.8347,-70.7088,-30.9058,-72.6309,-2.1049,-25.1857,-71.6816],"force":[94.5998,100.0,15.5943,100.0,30.1953,44.3339,13.4216,48.8842,13.4097,0.8917,88.3117,2.9572,0.0,6.402,-25.6259,-83.6868,-2.0624,-92.2498,-53.0898,-10.7793,-87.9014],"direction":[null,null,null,null,59.381,55.3034,40.1191,25.4661,64.5074,63.1002,87.2007,85.2207,0.0,61.438,-50.6719,-69.997,-58.2872,-68.9748,-64.5299,-53.6626,-65.337],"intensity":[null,null,null,null,100.0,20.0,16.6667,28.5714,100.0,11.1111,100.0,45.4545,75.0,92.3077,92.8571,53.3333,6.25,94.1176,50.0,26.3158,40.0],"confirmation":[52.9386,54.6667,27.6569,54.6667,14.3322,85.6648,6.1528,81.0857,78.2158,53.2131,96.5097,57.5484,39.8139,55.8653,77.9341,91.9352,55.0672,92.9446,12.7706,32.2269,55.0],"persistence":[null,null,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,87.5,87.5,62.5,37.5,12.5,12.5,37.5,62.5,75.0],"assessmentRisk":[null,null,null,null,26.9525,5.8446,5.0059,43.9763,28.8103,26.2489,5.2947,29.3814,47.3343,28.1523,34.2238,13.0769,32.8668,11.7072,41.6615,12.7623,5.6761],"volumeParticipation":true,"latest":{"consensus":-73.5,"control":-71.7,"force":-87.9,"direction":-65.3,"confirmation":55.0,"persistence":75.0,"assessmentRisk":5.7,"intensity":40.0,"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 strengthening","forceState":"Downward commitment","forcePath":"Commitment is strengthening","directionState":"Downward follow-through","persistenceState":"Established","confirmationState":"Qualified support","riskState":"Contained","intensityState":"Normal"},"cards":[{"label":"SM Consensus Gauge","value":"-73.5","detail":"Price structure has the available support","tone":"negative"},{"label":"SM Control Gauge","value":"-71.7","detail":"Seller control supports the view","tone":"negative"},{"label":"SM Force Gauge","value":"-87.9","detail":"Downward commitment","tone":"negative"},{"label":"SM Direction Gauge","value":"-65.3","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":"57.7","detail":"Positive","tone":"positive"},{"label":"Risk pressure","value":"49.3%","detail":"Elevated","tone":"caution"},{"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 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