{"schema_version":"1.0","name":"PVEX Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"25f1c480-e978-4c98-b1fa-d222ce1bfefb","symbol":"PVEX","name":"TRUESHARES CONVEQUITY ETF","exchange":"CBOE","country":"US","asset_type":"etf","currency":"USD","sector":null,"industry":null},"summary":"Market Dynamics improved this week but remains below zero. Underlying support has contracted across the recent completed path. The upward price structure is leading its underlying support.","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, Activity pressure and cumulative balance, Strength versus the research benchmark, Directional strength and control, Range position and boundary pressure, 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":60,"displayedObservations":60,"assetType":"ETF","state":"Aligned upward","stateTone":"positive","summary":"Market Dynamics improved this week but remains below zero. Underlying support has contracted across the recent completed path. The upward price structure is leading its underlying support.","evidenceAlignment":{"status":"Price ahead of underlying support","headline":"The upward price response is leading Market Dynamics","summary":"Market Dynamics improved this week but remains below zero. Underlying support has contracted across the recent completed path. The upward price structure is leading its underlying support.","take":"Treat the gap as an early-downside risk watch. 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underlying support","tone":"caution","headline":"Price is leading its underlying support","use":"Market Dynamics must catch up or price may correct toward the weaker underlying position.","confirm":"Treat the gap as an early-downside risk watch. Stronger Market Dynamics would confirm the price move; a weaker price response would confirm that the gap is closing through correction.","invalidate":"Reassess the reading when either price structure or the Market Dynamics state changes materially.","level":"negative","direction":"strengthening","zone":"middle","zoneContext":"Price has advanced further through its recent range than Market Dynamics. The gap is an early-downside risk watch; stronger underlying support or a price reset is needed to close it.","historical":{"label":"Broad directional cases","weeks":12,"direction":"lower","percent":0.0,"averageReturn":7.7,"sample":2},"nowContext":{"label":"Stronger this week","detail":"Market Dynamics improved this week but remains below zero."},"fourWeekContext":{"label":"Weakened over four weeks","detail":"Underlying support has contracted across the recent completed path."},"priceContext":{"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."}},"strategyApproach":{"headline":"Strategy observations from this ticker's own record","summary":"The current reading identifies the setup. The observations below show how this ticker's completed history can guide positioning, confirmation and risk control without treating any one reading as a forecast.","observations":[{"eyebrow":"Divergence control","title":"Do not chase price while the underlying evidence lags","tone":"caution","approach":"Use the gap to review position size, protect gains and wait for either Market Dynamics to catch up or price to correct. The disagreement is a warning condition, not an automatic exit.","finding":"In this ticker's completed record, 0.0% of comparable cases moved lower after 12 weeks, with an average move of 7.7% across 2 cases.","watch":"Reassess the reading when either price structure or the Market Dynamics state changes materially."},{"eyebrow":"Zone positioning","title":"Use accumulation to prepare the long case, then wait for confirmation","tone":"positive","finding":"After accumulation, 100.0% of completed 12-week outcomes were higher across 1 cases. Distinct visits lasted 1.0 weeks on average before leaving the zone.","approach":"Build the thesis and entry conditions while price is in accumulation. Increase exposure only when price responds; location alone is not the entry.","watch":"A failed price response or renewed weakness removes the reason to increase long exposure."},{"eyebrow":"Disagreement playbook","title":"Use unsupported price strength to tighten discipline","tone":"caution","finding":"Comparable disagreements produced an average pullback of 4.9% across 2 completed cases, with the largest move arriving after 3.0 weeks on average.","approach":"Avoid adding simply because price is rising. Let improving Market Dynamics confirm the move, or let price reset before reassessing it.","watch":"The warning ends when Market Dynamics catches up or price gives way."}]},"summary":"This record compares the ticker's completed price path with its published Market Dynamics history."},"events":{"positioning_recoveries":[],"reversal_warnings":[{"date":"2026-05-01","price":29.78}],"reversal_dangers":[{"date":"2026-06-05","price":30.33},{"date":"2026-07-17","price":30.2848}]}},"smTape":{"available":true,"dates":["2025-07-04","2025-07-11","2025-07-18","2025-07-25","2025-08-01","2025-08-08","2025-08-15","2025-08-22","2025-08-29","2025-09-05","2025-09-12","2025-09-19","2025-09-26","2025-10-03","2025-10-10","2025-10-17","2025-10-24","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":[26.0752,25.4949,25.762,26.7915,24.8821,26.0683,26.4803,26.4656,26.3619,26.4284,27.2545,27.987,27.7565,28.2585,27.3057,27.9275,28.4264,28.8558,28.0939,28.1385,27.548,28.5831,28.6157,28.3567,28.2825,28.5845,28.3556,28.73,28.6073,28.495,28.6064,28.5727,28.26,28.52,28.3439,28.0072,27.7206,27.4246,26.8916,27.46,28.1484,29.2898,29.4232,29.78,30.5064,30.4499,30.6702,31.1518,30.33,30.419,30.718,29.57,30.579,30.8815,30.2848,29.9173,30.3248,31.73,31.7477,31.1241],"consensus":[87.4804,0.0,39.1809,47.355,-63.6059,31.1241,30.6082,12.0561,8.36,16.984,51.3187,70.3804,23.5208,55.8195,-26.5727,45.1737,48.317,38.4696,-8.195,0.0,-30.8532,45.5155,36.0453,0.0,17.8893,34.9868,-12.7163,47.1708,8.4463,0.0,18.0011,0.0,-37.1795,30.0732,-18.1207,-45.5462,-50.2734,-57.2702,-68.006,0.0,36.5557,70.2134,51.2923,61.2712,72.0536,40.3935,51.6755,69.8385,-16.4359,27.7447,20.1084,-51.3632,43.756,42.0404,-22.9659,-20.1401,24.0115,58.9359,35.32,2.9112],"supportDates":["2025-08-29","2025-09-05","2025-09-12","2025-09-19","2025-09-26","2025-10-03","2025-10-10","2025-10-17","2025-10-24","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":[6.4174,15.597,56.4671,66.3278,11.731,46.9717,-29.1517,47.4247,53.62,35.5129,-20.5335,0.0,-26.7478,62.0384,45.1107,0.0,18.2062,39.5894,-7.3241,48.4883,9.8066,0.0,15.4404,0.0,-33.6056,35.6469,-12.3889,-43.0048,-48.6622,-56.8791,-69.2794,0.0,41.7507,71.1694,56.5595,69.124,75.5941,36.6086,53.4873,66.278,-19.761,34.0148,17.2874,-44.4611,40.3711,47.7382,-24.9332,-30.2172,32.8269,54.5156,34.2329,9.548],"force":[2.949,15.0001,44.6503,81.5653,9.0864,53.5008,-80.7281,63.0944,44.9903,30.2179,-46.6349,0.0,-54.1151,55.2211,22.2185,0.0,7.2226,49.6702,-42.591,68.6317,14.81,0.0,20.9374,0.0,-68.508,56.0533,-32.5655,-60.7252,-58.1327,-58.0499,-70.6234,0.0,54.2296,91.4682,34.7704,48.4121,73.882,13.4854,30.5909,78.4977,-74.63,13.1843,3.0487,-93.5918,69.7441,38.6981,-48.764,-31.7701,42.6859,80.975,13.8411,23.6032],"direction":[33.3262,19.9862,50.198,67.0228,60.2858,67.5876,-15.0571,29.8006,44.6327,47.7427,-33.3632,0.0,-18.9293,19.6997,35.5612,0.0,25.1461,19.2386,-2.4604,30.3359,23.5033,0.0,18.83,0.0,-18.8865,5.146,-14.3535,-37.6085,-46.5012,-57.1601,-64.6811,0.0,17.9944,53.939,57.0739,61.4816,66.7013,63.9391,64.6654,67.7225,-28.9313,30.9792,35.5178,-29.0879,29.0615,37.9159,-2.2904,-0.3164,0.5979,48.2455,51.9046,36.0892],"intensity":[37.5,22.2222,70.0,63.6364,25.0,46.1538,78.5714,60.0,43.75,64.7059,66.6667,5.2632,80.0,90.4762,27.2727,21.7391,45.8333,48.0,15.3846,29.6296,10.7143,31.0345,33.3333,29.0323,37.5,24.2424,11.7647,42.8571,33.3333,43.2432,65.7895,64.1026,77.5,95.122,85.7143,41.8605,84.0909,53.3333,13.0435,72.3404,79.1667,83.6735,82.0,96.0784,88.4615,30.7692,59.6154,50.0,40.3846,100.0,65.3846,63.4615],"confirmation":[27.2206,73.3955,84.1403,90.9244,31.3177,85.9264,35.9933,82.9674,83.2792,80.1038,33.39,26.1486,78.6445,82.609,78.975,28.6589,50.728,79.5731,28.2534,83.7286,27.7995,3.1188,73.8888,24.4329,80.9067,55.6636,74.3262,83.0761,84.3516,86.3562,89.8223,35.6767,80.1573,91.1015,83.8297,87.0952,91.0589,80.1635,83.866,90.6665,35.821,76.339,51.2911,85.8284,82.8455,81.2642,53.4387,51.9791,53.4518,87.5985,78.6644,21.6377],"persistence":[62.5,75.0,75.0,75.0,100.0,100.0,75.0,75.0,75.0,75.0,50.0,37.5,12.5,12.5,37.5,25.0,25.0,25.0,25.0,37.5,62.5,50.0,50.0,50.0,25.0,25.0,25.0,0.0,25.0,37.5,62.5,62.5,37.5,37.5,12.5,12.5,37.5,62.5,87.5,100.0,75.0,75.0,75.0,50.0,50.0,50.0,25.0,0.0,25.0,25.0,25.0,37.5],"assessmentRisk":[42.0368,11.2551,10.3795,12.3076,35.2297,21.1945,16.4394,26.2049,10.359,21.3231,49.1438,16.3845,30.3648,43.6513,16.5584,19.4627,34.236,17.3674,15.6365,8.8771,26.103,12.867,17.2882,22.458,17.3416,11.4375,33.09,26.523,23.9423,21.3541,15.9963,50.9192,23.8331,14.8584,24.3519,19.359,13.9652,28.9644,23.5769,14.7457,7.598,16.825,5.3094,23.8321,2.9747,10.8712,20.0211,36.3173,32.0718,12.931,31.018,45.4072],"volumeParticipation":true,"latest":{"consensus":2.9,"control":9.5,"force":23.6,"direction":36.1,"confirmation":21.6,"persistence":37.5,"assessmentRisk":45.4,"intensity":63.5,"evidenceDepth":100},"analysis":{"status":"Price structure has stronger support","headline":"The gauges support the price-technical view","summary":"Price structure and Market Dynamics disagree. The completed evidence gives the upward price structure stronger support.","take":"Current assessment: price structure remains primary, but the disagreement lowers confirmation.","tone":"positive","supportedView":"Price structure","direction":"upward","disagreement":true},"support":{"window":"Latest 12 months","controlState":"Control support is limited","controlPath":"Control support is easing","forceState":"Upward commitment","forcePath":"Broadly stable","directionState":"Upward follow-through","persistenceState":"Unsettled","confirmationState":"Limited support","riskState":"Present","intensityState":"Normal"},"cards":[{"label":"SM Consensus Gauge","value":"+2.9","detail":"Price structure has stronger support","tone":"positive"},{"label":"SM Control Gauge","value":"+9.5","detail":"Control support is limited","tone":"positive"},{"label":"SM Force Gauge","value":"+23.6","detail":"Upward commitment","tone":"positive"},{"label":"SM Direction Gauge","value":"+36.1","detail":"Upward 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leadership","title":"Strength versus the research benchmark","description":"Relative performance is separated from absolute price direction to reveal leadership and lagging pressure.","reason":"Selected because benchmark-relative leadership is strengthening, fading or diverging from price.","series":[{"label":"Relative 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quality","title":"Directional strength and control","description":"Directional pressure shows which side controls the tape while strength remains direction-neutral.","reason":"Selected because directional control or trend strength is materially changing.","series":[{"label":"Trend strength","values":[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,36.2476,34.6095,32.9634,30.8233,29.1339,27.1045,25.2079,23.4683,22.0464,20.7916,20.1724,20.216,21.1332,21.985,20.9388,20.7066,20.6464,21.0292,22.3015,23.7091,25.0161,26.5959,26.9931,26.4972,26.926,25.7412,24.6411,23.6195,22.9326,21.6361,20.1851,21.005,21.7663,21.8091],"stroke":"#10243b","width":2.0},{"label":"Positive 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