{"schema_version":"1.0","name":"CRC3 Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"21793ca4-2a1b-4ae0-92c0-dca609610d5a","symbol":"CRC3","name":"Leverage Shares 3x Long Circle (CRCL) 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, Range pressure and compression, 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":"Rotational","stateTone":"caution","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":[2.57272,2.585,2.11,3.399,2.855,5.3225,4.131,2.983,3.341,1.433,1.028,0.922,0.589,0.441,0.378,0.294,0.302,0.346,0.296,0.392,0.441],"highs":[3.04428,3.551,4.35,3.8,2.887,5.375,5.9475,3.73,3.341,1.508,1.12,0.961,0.699,0.463,0.544,0.31,0.509,0.363,0.405,0.52,0.868],"lows":[2.55317,2.1,2.088,2.747,2.197,3.28,3.15,2.82,2.054,1.064,0.912,0.869,0.545,0.404,0.375,0.281,0.28,0.253,0.25,0.336,0.423],"closes":[2.55317,2.2865,3.4375,2.8095,2.666,3.561,3.209,3.374,3.124,1.082,0.973,0.9215,0.676,0.4435,0.4265,0.295,0.319,0.256,0.3675,0.442,0.785],"hoverRows":[[{"label":"Open","value":"2.57","className":"is-ohlc","compact":true},{"label":"High","value":"3.04","className":"is-ohlc","compact":true},{"label":"Low","value":"2.55","className":"is-ohlc","compact":true},{"label":"Close","value":"2.55","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":"0.35","className":"is-ohlc","compact":true},{"label":"High","value":"0.36","className":"is-ohlc","compact":true},{"label":"Low","value":"0.25","className":"is-ohlc","compact":true},{"label":"Close","value":"0.26","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":"0.30","className":"is-ohlc","compact":true},{"label":"High","value":"0.41","className":"is-ohlc","compact":true},{"label":"Low","value":"0.25","className":"is-ohlc","compact":true},{"label":"Close","value":"0.37","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":[0.0577,3.7593],"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":"Price is travelling between the lower accumulation area and the upper positioning zone. Market Dynamics history is not yet sufficient to confirm or challenge that progression.","tone":"neutral"},"chartSummary":"Price is between the outer positioning zones. The Market Dynamics bars show whether underlying support is strengthening or weakening.","summary":"Price is travelling between the lower accumulation area and the upper positioning zone. Market Dynamics history is not yet sufficient to confirm or challenge that progression.","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":"Between zones","detail":"Price is progressing between the lower and upper positioning zones while the Market Dynamics read develops.","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":"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":"2026-04-17","price":3.4375}],"reversal_dangers":[{"date":"2026-04-24","price":2.8095}]}},"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":[2.5532,2.2865,3.4375,2.8095,2.666,3.561,3.209,3.374,3.124,1.082,0.973,0.9215,0.676,0.4435,0.4265,0.295,0.319,0.256,0.3675,0.442,0.785],"consensus":[-100.0,-74.2936,19.3192,-88.1292,0.0,27.0862,-11.3289,27.6416,0.0,-75.7653,-46.5449,-37.753,-39.6538,-36.0528,-38.8102,-41.4386,-34.2157,-41.3335,-8.9599,-10.5303,22.5364],"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,14.2343,-17.2585,22.4421,0.0,-73.9297,-41.8916,-27.5969,-19.7381,-29.2232,-37.966,-34.5749,-40.9511,-51.8445,-9.0341,-14.5394,20.0916],"force":[-100.0,-74.2936,19.3192,-88.1292,0.0,4.7359,-31.1987,28.0839,0.0,-86.3389,-21.6528,-10.3273,-28.725,-11.199,-12.0069,-24.2996,-8.5736,-25.2673,-24.6204,-11.394,51.1385],"direction":[null,null,null,null,0.0,57.7387,-9.6404,33.268,0.0,-70.3106,-69.6428,-68.9497,-70.2211,-61.6109,-58.9203,-61.5249,-44.8339,-40.7967,-32.8609,-21.6087,4.9003],"intensity":[null,null,null,null,75.0,100.0,33.3333,85.7143,50.0,77.7778,10.0,9.0909,16.6667,15.3846,7.1429,20.0,18.75,11.7647,11.1111,15.7895,50.0],"confirmation":[54.6667,46.4406,28.8488,50.868,1.3227,53.5156,28.8637,76.938,3.9718,92.5951,82.2066,79.3999,80.6596,78.8835,79.6153,80.8426,78.0649,80.5769,29.7617,27.7378,53.4539],"persistence":[null,null,33.3333,50.0,40.0,16.6667,28.5714,12.5,0.0,0.0,25.0,25.0,37.5,62.5,62.5,87.5,100.0,100.0,100.0,100.0,75.0],"assessmentRisk":[null,null,null,null,7.018,33.9785,10.8393,22.3452,30.9512,11.7914,26.2956,30.9315,30.0252,17.3948,12.5406,17.6018,9.1337,5.838,0.9818,18.4692,23.0156],"volumeParticipation":true,"latest":{"consensus":22.5,"control":20.1,"force":51.1,"direction":4.9,"confirmation":53.5,"persistence":75.0,"assessmentRisk":23.0,"intensity":50.0,"evidenceDepth":81},"analysis":{"status":"Completed tape has stronger support","headline":"The gauges support the upward view","summary":"The completed evidence gives the upward view the clearer support.","take":"Current assessment: upward pressure has the stronger support.","tone":"positive","supportedView":"Completed tape","direction":"upward","disagreement":false},"support":{"window":"Latest 12 months","controlState":"Buyer control supports the view","controlPath":"Control support is easing","forceState":"Upward commitment","forcePath":"Commitment is strengthening","directionState":"Follow-through is limited","persistenceState":"Established","confirmationState":"Qualified support","riskState":"Contained","intensityState":"Normal"},"cards":[{"label":"SM Consensus Gauge","value":"+22.5","detail":"Completed tape has stronger support","tone":"positive"},{"label":"SM Control Gauge","value":"+20.1","detail":"Buyer control supports the view","tone":"positive"},{"label":"SM Force Gauge","value":"+51.1","detail":"Upward 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