{"schema_version":"1.0","name":"CONX Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"216ab92f-d1d5-459f-9fad-9d80a5a01804","symbol":"CONX","name":"Direxion Daily COIN Bull 2X 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 remains elevated in the distribution zone.","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, Acceleration, deceleration and rollover, Range pressure and compression, 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":40,"displayedObservations":40,"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 remains elevated in the distribution zone.","evidenceAlignment":{"status":"Unsupported elevation","headline":"Price remains elevated without full Market Dynamics support","summary":"Market Dynamics improved this week but remains below zero. Underlying support has strengthened across the recent completed path. Price remains elevated in the distribution zone.","take":"This is a downside warning, not a confirmed reversal. Stronger Market Dynamics would repair the gap; weaker price would begin to confirm it.","tone":"negative","conflict":true},"marketDynamics":{"available":true,"readAvailable":true,"dates":["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":[0.111112,0.050423,-0.010508,-0.119367,-0.119033,-0.101234,-0.085578,-0.066833,-0.132272,-0.163026,-0.140599,-0.009243],"opens":[8.177159,6.177635,7.227136,6.71482,5.56,6.21,5.75,5.91,6.21,4.7,5.32,4.9],"highs":[8.786566,6.71482,7.4249,7.56039,7.11,6.9701,6.7,7.65,6.62,5.4,5.34,7.95],"lows":[5.431643,5.550918,6.366644,4.73,4.88,5.6874,5.5,5.5,4.3395,4.51,4.821,4.765],"closes":[5.786185,6.296213,6.525811,5.38,6.5371,6.0134,5.81,5.82,4.9056,5.31,4.9308,7.6184],"hoverRows":[[{"label":"Open","value":"8.18","className":"is-ohlc","compact":true},{"label":"High","value":"8.79","className":"is-ohlc","compact":true},{"label":"Low","value":"5.43","className":"is-ohlc","compact":true},{"label":"Close","value":"5.79","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.11","note":"Supportive and strengthening","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"6.18","className":"is-ohlc","compact":true},{"label":"High","value":"6.71","className":"is-ohlc","compact":true},{"label":"Low","value":"5.55","className":"is-ohlc","compact":true},{"label":"Close","value":"6.30","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.05","note":"Supportive but easing","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"7.23","className":"is-ohlc","compact":true},{"label":"High","value":"7.42","className":"is-ohlc","compact":true},{"label":"Low","value":"6.37","className":"is-ohlc","compact":true},{"label":"Close","value":"6.53","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.01","note":"Cautious and weakening","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"6.71","className":"is-ohlc","compact":true},{"label":"High","value":"7.56","className":"is-ohlc","compact":true},{"label":"Low","value":"4.73","className":"is-ohlc","compact":true},{"label":"Close","value":"5.38","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.12","note":"Cautious and weakening","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"5.56","className":"is-ohlc","compact":true},{"label":"High","value":"7.11","className":"is-ohlc","compact":true},{"label":"Low","value":"4.88","className":"is-ohlc","compact":true},{"label":"Close","value":"6.54","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.12","note":"Cautious but repairing","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"6.21","className":"is-ohlc","compact":true},{"label":"High","value":"6.97","className":"is-ohlc","compact":true},{"label":"Low","value":"5.69","className":"is-ohlc","compact":true},{"label":"Close","value":"6.01","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.10","note":"Cautious but repairing","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"5.75","className":"is-ohlc","compact":true},{"label":"High","value":"6.70","className":"is-ohlc","compact":true},{"label":"Low","value":"5.50","className":"is-ohlc","compact":true},{"label":"Close","value":"5.81","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.09","note":"Cautious but repairing","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"5.91","className":"is-ohlc","compact":true},{"label":"High","value":"7.65","className":"is-ohlc","compact":true},{"label":"Low","value":"5.50","className":"is-ohlc","compact":true},{"label":"Close","value":"5.82","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":"6.21","className":"is-ohlc","compact":true},{"label":"High","value":"6.62","className":"is-ohlc","compact":true},{"label":"Low","value":"4.34","className":"is-ohlc","compact":true},{"label":"Close","value":"4.91","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.13","note":"Cautious and weakening","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"4.70","className":"is-ohlc","compact":true},{"label":"High","value":"5.40","className":"is-ohlc","compact":true},{"label":"Low","value":"4.51","className":"is-ohlc","compact":true},{"label":"Close","value":"5.31","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.16","note":"Cautious and weakening","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"5.32","className":"is-ohlc","compact":true},{"label":"High","value":"5.34","className":"is-ohlc","compact":true},{"label":"Low","value":"4.82","className":"is-ohlc","compact":true},{"label":"Close","value":"4.93","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.14","note":"Cautious but repairing","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"4.90","className":"is-ohlc","compact":true},{"label":"High","value":"7.95","className":"is-ohlc","compact":true},{"label":"Low","value":"4.76","className":"is-ohlc","compact":true},{"label":"Close","value":"7.62","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.01","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":[4.742832,7.781168],"zones":{"accumulationBoundary":-1.5,"accumulationDarkBoundary":-2.0,"distributionBoundary":1.5,"distributionDarkBoundary":2.0},"latest":-0.009243,"state":"Price ahead of Market Dynamics","context":{"scenario":"priceAhead","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 is ahead of the underlying support","detail":"Price is extended relative to Market Dynamics. The gap is a downside-risk warning until support catches up or price resets."}},"diagnosis":{"label":"Unsupported elevation","detail":"Price is in distribution and ahead of Market Dynamics. The advance is not fully confirmed while that gap remains open.","tone":"negative"},"chartSummary":"Price is in the distribution zone. The Market Dynamics bars show whether underlying support is keeping pace with that elevated price.","summary":"Price is in distribution and ahead of Market Dynamics. The advance is not fully confirmed while that gap remains open.","annotations":[{"label":"Current tape relationship","value":"Unsupported elevation","detail":"Market Dynamics improved this week but remains below zero.","tone":"negative"},{"label":"Price location","value":"Distribution zone","detail":"Price is extended; support can persist, but rollover risk must be monitored.","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":"Not confirming","detail":"Market Dynamics has strengthened over four weeks, but it still lags the elevated price.","tone":"negative"}],"relationshipEvidence":{"available":false,"observations":12,"summary":"More completed weekly history is needed for a dependable ticker-level record."},"events":{"positioning_recoveries":[],"reversal_warnings":[],"reversal_dangers":[]}},"smTape":{"available":true,"dates":["2025-11-21","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":[20.6765,26.3565,25.5139,24.9951,20.7969,19.3523,19.16,19.7177,19.5652,15.7041,12.5782,8.6177,8.2269,8.8794,9.1528,11.2161,10.9977,11.1385,7.2584,8.1181,7.7454,11.62,10.6516,9.6693,10.5975,9.8086,8.7443,9.0786,5.7862,6.2962,6.5258,5.38,6.5371,6.0134,5.81,5.82,4.9056,5.31,4.9308,7.6184],"consensus":[-48.8693,79.3192,13.2739,-31.8117,-21.2339,-35.2626,-18.7477,-20.7766,-16.4231,-57.6435,-63.3989,-69.2003,-37.1627,-25.9443,-24.9608,12.1708,-16.5579,-10.783,-60.4818,-14.6939,-36.0726,35.0757,0.0,-11.6441,14.8096,-23.6116,-33.8859,0.0,-61.5007,-18.5252,-29.0321,-43.5241,8.7321,-23.8523,-21.7437,-15.2204,-36.4413,0.0,-28.0612,-49.3285],"supportDates":["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,-32.9777,-7.034,-17.5483,-15.8929,-59.1259,-62.0198,-59.2709,-21.5231,-14.529,-16.6449,2.3209,-29.404,-21.9175,-63.1967,-13.7807,-37.5655,33.745,0.0,-18.3043,7.2573,-22.908,-40.648,0.0,-60.0621,-13.6053,-34.0884,-42.7339,5.2025,-30.17,-26.6778,-23.1498,-38.1587,0.0,-34.573,-43.6149],"force":[-48.8693,79.3192,13.2739,-31.8117,-30.7729,-28.6219,-5.6152,-7.739,-13.8788,-65.0568,-62.2862,-78.3433,-12.3033,-13.5994,-6.2493,60.3694,-7.4472,-1.2538,-84.0418,-19.4695,-27.821,77.9051,0.0,-14.8574,29.8775,-36.5007,-37.6594,0.0,-85.4859,-4.4592,-14.1375,-45.2913,41.6982,-18.9189,-12.0513,-6.6932,-39.8684,0.0,-22.3405,-86.442],"direction":[null,null,null,null,-14.4203,-42.6172,-41.5151,-33.7787,-18.8465,-50.6542,-65.7698,-74.0175,-72.7932,-67.2358,-56.7576,10.9999,-8.3844,-6.6557,-40.5504,-40.14,-40.2605,6.0039,0.0,-1.7373,12.678,-15.2091,-23.4624,0.0,-46.0127,-40.5654,-33.8924,-43.1648,10.7813,-20.1558,-23.0278,-12.249,-32.0306,0.0,-24.7053,-29.3487],"intensity":[null,null,null,null,75.0,60.0,50.0,71.4286,12.5,88.8889,70.0,90.9091,58.3333,23.0769,14.2857,53.3333,31.25,11.7647,77.7778,57.8947,20.0,76.1905,40.9091,30.4348,20.8333,24.0,57.6923,29.6296,75.0,41.3793,10.0,35.4839,21.875,9.0909,2.9412,25.7143,30.5556,35.1351,5.2632,58.9744],"confirmation":[38.3048,48.0488,26.9143,32.8464,52.5643,79.1165,28.4442,51.6337,73.1859,86.6493,88.2748,90.5741,79.3728,32.8388,53.8295,7.8603,50.1585,25.8482,88.0308,30.495,79.269,57.8831,27.6081,49.0559,50.6467,75.9592,78.8554,3.6371,88.4331,51.5872,76.7593,81.9936,6.1527,75.3861,74.5874,49.8231,79.7395,4.7864,76.706,85.0033],"persistence":[null,null,33.3333,0.0,20.0,33.3333,42.8571,50.0,50.0,75.0,100.0,100.0,100.0,100.0,100.0,75.0,75.0,75.0,75.0,75.0,75.0,50.0,37.5,62.5,37.5,37.5,37.5,25.0,25.0,50.0,62.5,62.5,62.5,62.5,62.5,75.0,75.0,62.5,62.5,37.5],"assessmentRisk":[null,null,null,null,12.3054,31.0547,39.2764,37.4861,14.0119,14.91,17.5794,15.3726,31.4025,36.5709,35.611,37.3307,52.6337,48.189,7.2086,38.3225,28.4328,7.4104,49.7007,38.1476,39.1044,27.2119,22.8863,17.1015,18.7105,38.497,27.0309,27.303,17.4838,3.2063,17.4454,26.4529,26.7906,28.5659,19.9235,19.2355],"volumeParticipation":true,"latest":{"consensus":-49.3,"control":-43.6,"force":-86.4,"direction":-29.3,"confirmation":85.0,"persistence":37.5,"assessmentRisk":19.2,"intensity":59.0,"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":"Unsettled","confirmationState":"Strong support","riskState":"Contained","intensityState":"Normal"},"cards":[{"label":"SM Consensus Gauge","value":"-49.3","detail":"Market Dynamics has stronger support","tone":"negative"},{"label":"SM Control Gauge","value":"-43.6","detail":"Seller control supports the view","tone":"negative"},{"label":"SM Force Gauge","value":"-86.4","detail":"Downward commitment","tone":"negative"},{"label":"SM Direction Gauge","value":"-29.3","detail":"Downward follow-through","tone":"negative"},{"label":"SM Confirmation Gauge","value":"85/100","detail":"Strong support","tone":"positive"}]},"kpis":[{"label":"Price structure","value":"Rotational","detail":"completed-week alignment","tone":"caution"},{"label":"Momentum","value":"58.8","detail":"Positive","tone":"positive"},{"label":"Risk pressure","value":"32.3%","detail":"Contained","tone":"neutral"},{"label":"Trend quality","value":"27.5","detail":"Directional","tone":"positive"},{"label":"Range position","value":"38%","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 is rotating through its trend references.","series":[{"label":"Close","values":[20.6765,26.3565,25.5139,24.9951,20.7969,19.3523,19.16,19.7177,19.5652,15.7041,12.5782,8.6177,8.2269,8.8794,9.1528,11.2161,10.9977,11.1385,7.2584,8.1181,7.7454,11.62,10.6516,9.6693,10.5975,9.8086,8.7443,9.0786,5.7862,6.2962,6.5258,5.38,6.5371,6.0134,5.81,5.82,4.9056,5.31,4.9308,7.6184],"stroke":"#10243b","width":2.1},{"label":"Fast trend","values":[null,null,null,null,22.4952,21.9238,21.4213,21.1115,20.8304,19.8983,18.5674,16.7584,15.2072,14.0567,13.1651,12.8107,12.4811,12.237,11.3318,10.7475,10.2016,10.4595,10.4944,10.3444,10.3904,10.2847,10.0046,9.8362,9.0999,8.5901,8.2148,7.6994,7.488,7.2199,6.9636,6.7557,6.4193,6.2176,5.9836,6.2809],"stroke":"#176fa3","width":1.7},{"label":"Slow trend","values":[null,null,null,null,null,null,null,null,null,null,null,null,18.3949,17.6901,17.0577,16.625,16.2081,15.8326,15.1975,14.6731,14.1599,13.9718,13.7258,13.4254,13.2159,12.9635,12.651,12.3864,11.8974,11.4825,11.1154,10.6905,10.3829,10.0592,9.7445,9.4538,9.1169,8.8349,8.5457,8.477],"stroke":"#07865c","width":1.8},{"label":"Upper envelope","values":[null,null,null,null,null,null,null,null,null,27.5928,28.2642,29.3744,29.8305,29.8186,29.6238,29.2088,28.8135,28.4233,28.2887,28.0386,27.5682,25.7251,23.7954,21.6442,20.3298,19.1792,17.8875,16.1112,13.9957,12.816,12.3745,12.5647,12.607,12.6446,12.6484,12.326,12.0436,11.6115,11.6572,11.6224],"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."}