{"schema_version":"1.0","name":"NBI3 Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"1e47026d-cd22-46e2-a3a1-33a83e4f7af5","symbol":"NBI3","name":"Leverage Shares 3x Long Nebius (NBIS) 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, Activity pressure and cumulative balance, Drawdown and recovery pressure, Range position and boundary pressure."},{"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":[4.63435,8.32625,15.025,18.785,16.455,17.5,23.76,45.290001,39.900002,51.93,38.970001,70.779999,47.049999,29.280001,23.559999,9.375,12.49,13.555,10.0,8.56,21.959999],"highs":[7.24701,12.95,24.665001,22.24,17.559999,33.860001,48.169998,45.540001,45.349998,55.349998,42.450001,73.529999,47.049999,31.34,24.9625,12.345,23.485001,13.67,15.63,20.700001,22.695],"lows":[4.63435,8.32625,15.025,17.040001,11.75,17.5,22.809999,23.889999,29.0,40.0,38.93,62.0,38.0,27.940001,22.9,8.97,12.49,5.13,7.1875,7.6,8.8025],"closes":[7.24701,17.030001,20.51,17.83,17.360001,25.295,42.849998,39.055,39.759998,42.02,41.450001,66.120003,39.095001,28.924999,24.9625,11.7125,14.825,8.6075,7.805,19.4175,10.1425],"hoverRows":[[{"label":"Open","value":"4.63","className":"is-ohlc","compact":true},{"label":"High","value":"7.25","className":"is-ohlc","compact":true},{"label":"Low","value":"4.63","className":"is-ohlc","compact":true},{"label":"Close","value":"7.25","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}]],"pressureRange":[-2.3,2.3],"priceRange":[3.71463,69.652383],"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":66.120003}],"reversal_dangers":[{"date":"2026-06-26","price":39.095001}]}},"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":[7.247,17.03,20.51,17.83,17.36,25.295,42.85,39.055,39.76,42.02,41.45,66.12,39.095,28.925,24.9625,11.7125,14.825,8.6075,7.805,19.4175,10.1425],"consensus":[100.0,100.0,13.7967,-69.6154,63.196,62.2352,75.2261,25.9456,46.7576,30.4153,32.4944,55.5994,-21.8604,-42.2148,-23.1257,-53.9986,-26.3597,-59.2529,-47.7585,31.2627,-56.0099],"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,60.7476,79.4643,15.5734,36.8333,12.6882,42.1473,47.0142,-28.3488,-37.3468,-5.8556,-33.7634,-25.0927,-49.386,-47.4523,28.8349,-52.5434],"force":[100.0,100.0,13.7967,-69.6154,21.7219,43.1122,52.9379,31.8595,21.6378,1.9952,5.1828,30.9148,-64.151,-51.2421,-9.2626,-60.6381,-14.9315,-71.1965,-30.1106,85.4377,-81.3568],"direction":[null,null,null,null,92.8205,77.5945,86.3027,79.0889,76.0425,73.8251,40.9709,83.0428,-15.7626,-41.33,-52.765,-72.3822,-57.3012,-61.9983,-60.7139,4.6591,-41.8667],"intensity":[null,null,null,null,50.0,100.0,100.0,28.5714,37.5,66.6667,80.0,100.0,91.6667,69.2308,35.7143,66.6667,50.0,41.1765,5.5556,57.8947,35.0],"confirmation":[54.6667,54.6667,27.0816,44.9436,63.6601,87.3551,91.3285,36.1623,82.3481,54.7742,54.7521,85.1703,34.2147,81.858,52.5742,85.7903,33.048,87.4753,82.7495,58.0194,55.0],"persistence":[null,null,100.0,50.0,60.0,66.6667,71.4286,75.0,75.0,75.0,75.0,100.0,75.0,50.0,25.0,0.0,25.0,50.0,75.0,75.0,75.0],"assessmentRisk":[null,null,null,null,17.0262,15.8836,12.2509,36.7675,26.4847,34.2452,27.2761,22.0253,8.1883,18.5435,32.449,22.9843,34.7974,16.5393,20.2527,13.1401,9.3061],"volumeParticipation":true,"latest":{"consensus":-56.0,"control":-52.5,"force":-81.4,"direction":-41.9,"confirmation":55.0,"persistence":75.0,"assessmentRisk":9.3,"intensity":35.0,"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":"Quiet"},"cards":[{"label":"SM Consensus Gauge","value":"-56.0","detail":"Price structure has the available support","tone":"negative"},{"label":"SM Control Gauge","value":"-52.5","detail":"Seller control supports the view","tone":"negative"},{"label":"SM Force Gauge","value":"-81.4","detail":"Downward commitment","tone":"negative"},{"label":"SM Direction Gauge","value":"-41.9","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":"58.3","detail":"Positive","tone":"positive"},{"label":"Risk pressure","value":"110.5%","detail":"Elevated","tone":"caution"},{"label":"Trend quality","value":"-","detail":"Developing","tone":"neutral"},{"label":"Range position","value":"8%","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 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