{"schema_version":"1.0","name":"VICI Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-14","ticker":{"uuid":"41e87f19-82af-4b41-a2dc-1de0721f2c65","symbol":"VICI","name":"VICI Properties Inc","exchange":"NYSE","country":"US","asset_type":"equity","currency":"USD","sector":"Real Estate","industry":"Reit - Diversified"},"summary":"Price structure and the underlying tape currently reinforce the same downside read.","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 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elevated relative to Market Dynamics","kind":"structuralDivergence","expectedDirection":"lower","episodes":1,"completedEpisodes":1,"activeEpisodes":0,"medianExpectedMove":3.4,"averageExpectedMove":3.4,"averageWeeksToLargestMove":11.0,"horizons":[{"weeks":4,"sample":1,"expectedCount":1,"expectedPercent":100.0,"averageReturn":-1.0,"medianReturn":-1.0,"confidenceLow":20.7,"confidenceHigh":100.0,"confidence":"Mixed historical record"},{"weeks":12,"sample":1,"expectedCount":1,"expectedPercent":100.0,"averageReturn":-1.5,"medianReturn":-1.5,"confidenceLow":20.7,"confidenceHigh":100.0,"confidence":"Mixed historical record"},{"weeks":26,"sample":1,"expectedCount":1,"expectedPercent":100.0,"averageReturn":-13.3,"medianReturn":-13.3,"confidenceLow":20.7,"confidenceHigh":100.0,"confidence":"Mixed historical record"}],"path":[{"week":0,"sample":0},{"week":1,"averageReturn":-0.0,"sample":1},{"week":2,"averageReturn":-1.6,"sample":1},{"week":3,"averageReturn":-0.1,"sample":1},{"week":4,"averageReturn":-1.0,"sample":1},{"week":5,"averageReturn":-1.6,"sample":1},{"week":6,"averageReturn":-2.8,"sample":1},{"week":7,"averageReturn":-0.1,"sample":1},{"week":8,"averageReturn":1.0,"sample":1},{"week":9,"averageReturn":0.5,"sample":1},{"week":10,"averageReturn":-0.8,"sample":1},{"week":11,"averageReturn":-3.4,"sample":1},{"week":12,"averageReturn":-1.5,"sample":1},{"week":13,"averageReturn":-1.0,"sample":1},{"week":14,"averageReturn":-6.1,"sample":1},{"week":15,"averageReturn":-6.4,"sample":1},{"week":16,"averageReturn":-5.4,"sample":1},{"week":17,"averageReturn":-9.0,"sample":1},{"week":18,"averageReturn":-8.0,"sample":1},{"week":19,"averageReturn":-7.9,"sample":1},{"week":20,"averageReturn":-12.6,"sample":1},{"week":21,"averageReturn":-12.6,"sample":1},{"week":22,"averageReturn":-15.9,"sample":1},{"week":23,"averageReturn":-13.1,"sample":1},{"week":24,"averageReturn":-14.6,"sample":1},{"week":25,"averageReturn":-13.3,"sample":1},{"week":26,"averageReturn":-13.3,"sample":1}]},"currentApplication":{"status":"Evidence aligned downward","tone":"negative","headline":"Price and Market Dynamics remain aligned downward","use":"The downside remains supported until Market Dynamics repairs or price structure changes.","confirm":"The downside state remains confirmed until Market Dynamics repairs or price structure changes.","invalidate":"Reassess the reading when either price structure or the Market Dynamics state changes materially.","level":"negative","direction":"strengthening","zone":"middle","zoneContext":"Price is between the accumulation and distribution zones. The Market Dynamics bars describe whether the current move is gaining or losing underlying support.","historical":{"label":"Broad directional cases","weeks":12,"direction":"lower","percent":33.3,"averageReturn":2.8,"sample":21},"nowContext":{"label":"Slightly 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 structure is downward","detail":"Price is responding in the same broad direction as Market Dynamics."}},"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":"Capital protection","title":"Treat agreement on the downside as a defensive condition","tone":"negative","approach":"Reduce the burden of proof for risk control and raise it for new long exposure. A short position still needs a defined entry, exit and maximum loss.","finding":"In this ticker's completed record, 33.3% of comparable cases moved lower after 12 weeks, with an average move of 2.8% across 21 cases.","watch":"Reassess the reading when either price structure or the Market Dynamics state changes materially."},{"eyebrow":"Zone positioning","title":"Use distribution to protect capital before considering the short case","tone":"negative","finding":"After distribution, 100.0% of completed 12-week outcomes were lower across 3 cases. Distinct visits lasted 2.0 weeks on average before leaving the zone.","approach":"Review long exposure and define the evidence that would confirm a rollover. Short exposure should begin only after price weakens and the loss limit is known.","watch":"A sustained repair in price and Market Dynamics invalidates the downside setup."},{"eyebrow":"Disagreement playbook","title":"Use unsupported price strength to tighten discipline","tone":"caution","finding":"Comparable disagreements produced an average pullback of 5.1% across 20 completed cases, with the largest move arriving after 5.9 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":[],"distribution_rollovers":[],"price_pressure_gaps":[{"date":"2025-07-04","price":31.402306}]}},"smTape":{"available":true,"dates":["2024-08-23","2024-08-30","2024-09-06","2024-09-13","2024-09-20","2024-09-27","2024-10-04","2024-10-11","2024-10-18","2024-10-25","2024-11-01","2024-11-08","2024-11-15","2024-11-22","2024-11-29","2024-12-06","2024-12-13","2024-12-20","2024-12-27","2025-01-03","2025-01-10","2025-01-17","2025-01-24","2025-01-31","2025-02-07","2025-02-14","2025-02-21","2025-02-28","2025-03-07","2025-03-14","2025-03-21","2025-03-28","2025-04-04","2025-04-11","2025-04-18","2025-04-25","2025-05-02","2025-05-09","2025-05-16","2025-05-23","2025-05-30","2025-06-06","2025-06-13","2025-06-20","2025-06-27","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"],"close":[29.2799,29.7961,29.7872,30.2233,29.8163,29.8613,29.2302,29.3474,29.9245,28.9417,28.3466,28.3016,28.554,29.0589,29.4015,28.536,28.0671,26.331,26.4682,26.9437,25.8005,26.8431,27.0718,27.2273,27.5382,27.776,28.6083,29.7149,29.8613,29.4954,29.2266,29.6715,28.3552,28.7816,30.1628,29.8662,29.3749,29.5325,29.7549,29.171,29.3934,29.171,29.7735,30.3127,30.3221,31.4023,31.3929,30.9045,31.3553,31.1017,30.9045,30.5287,31.3741,31.7311,31.562,31.1487,30.3278,30.9278,31.0802,29.4896,29.3943,29.7086,28.5656,28.899,28.9181,27.4512,27.4512,26.413,27.2988,26.8026,27.2187,27.238,26.8607,28.0411,27.6154,27.1703,27.8283,28.3508,29.1152,29.2313,28.7088,27.4993,26.3783,26.162,27.1943,27.6368,28.5216,27.9415,28.0989,28.3545,27.4303,28.0202,27.7449,27.391,28.0399,26.28,27.21,27.19,26.01,26.87,26.73,26.35,26.74,26.36],"consensus":[67.3708,61.1119,33.4736,56.9243,14.9889,24.9388,-11.4981,19.3371,44.4067,-34.559,-39.7963,-20.1575,0.0,21.3896,26.9565,-31.5105,-37.3804,-70.8553,-32.9089,-8.9806,-70.3813,19.21,0.0,0.0,25.1709,19.729,50.4769,66.0282,43.2493,10.876,0.0,30.8954,-44.8761,18.9354,52.273,0.0,0.0,18.7557,18.7142,-19.7018,10.8253,-10.0952,22.8542,37.1342,16.4737,58.4175,33.1038,0.0,40.064,0.0,-9.0057,-21.6206,41.9104,40.3042,19.1143,0.0,-51.4499,18.5373,0.0,-64.1485,-33.8199,-17.5796,-61.5641,-8.8194,-24.6363,-75.5186,-36.4118,-76.9454,0.0,-59.4226,0.0,-10.5476,-42.0843,41.8847,-13.8868,-28.0569,30.6027,31.6783,54.4539,36.1166,0.0,-43.1087,-61.8039,-49.5082,9.8802,17.7872,49.3688,0.0,14.2444,27.2333,-37.8598,23.9118,-16.1518,-19.3893,31.3732,-62.3789,21.5458,0.0,-59.3592,15.4712,-12.6779,-29.647,17.2058,-21.4155],"supportDates":["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"],"control":[44.4521,43.5351,19.1625,0.0,-46.2968,26.6848,0.0,-58.5848,-31.8505,-12.5321,-51.3161,-0.3753,-23.4123,-74.0298,-32.6427,-76.9143,0.0,-60.9269,0.0,-17.696,-41.7298,39.7771,-19.3807,-30.6464,26.4189,32.6459,56.4503,29.2586,0.0,-41.7488,-61.1441,-54.054,25.733,21.7146,48.3544,0.0,6.2677,25.2941,-36.5125,26.844,-17.8875,-13.2036,30.3497,-60.9194,26.5984,0.0,-54.7794,13.3838,-9.259,-25.123,15.3878,-17.4884],"force":[67.0779,40.7006,1.5649,0.0,-84.0092,50.1259,0.0,-89.845,-16.3413,-10.5961,-80.666,-27.6689,-4.4779,-93.5998,-9.3419,-88.3978,0.0,-65.1188,0.0,-9.643,-42.5276,77.4959,-21.5601,-33.9509,55.9445,40.9734,56.3042,24.9698,0.0,-66.3524,-78.6371,-37.8607,40.5053,31.3034,60.6844,0.0,11.949,28.68,-59.3095,40.123,-26.1784,-22.5189,51.1744,-85.5486,69.6021,0.0,-81.6966,43.5373,-6.8051,-35.019,40.6118,-23.4096],"direction":[21.0288,36.3286,31.5945,0.0,-34.0825,13.3373,0.0,-52.1524,-48.5555,-43.4737,-59.632,-44.5329,-40.4341,-64.3049,-60.0549,-68.8006,0.0,-53.6346,0.0,-16.7997,-42.1728,18.8567,-2.1271,-20.8876,17.283,23.9332,50.8506,51.9163,0.0,-28.0603,-50.5343,-52.6326,30.1123,3.6444,42.4457,0.0,25.0002,28.4161,-24.0782,8.9814,-7.0063,-24.2234,18.3994,-47.4971,18.5545,0.0,-48.6378,2.1903,-20.7801,-30.9802,2.5649,-24.4794],"intensity":[67.3077,80.7692,1.9231,19.2308,63.4615,44.2308,55.7692,94.2308,80.7692,13.4615,96.1538,50.0,15.3846,90.3846,84.6154,71.1538,63.4615,30.7692,21.1538,5.7692,19.2308,84.6154,42.3077,38.4615,50.0,55.7692,59.6154,13.4615,34.6154,88.4615,82.6923,78.8462,75.0,55.7692,71.1538,44.2308,32.6923,19.2308,75.0,46.1538,7.6923,75.0,48.0769,98.0769,71.1538,1.9231,86.5385,63.4615,42.3077,46.1538,63.4615,17.3077],"confirmation":[82.1396,80.8602,50.9143,29.2286,85.5348,32.2825,25.1422,89.3954,78.3197,29.7709,88.4388,7.7415,52.6213,92.7397,78.8842,92.972,36.2093,87.1659,8.6093,27.3748,81.4859,82.5205,49.9273,77.1184,78.6289,78.4056,85.4512,79.3221,29.7229,82.5239,88.3003,83.4184,32.9441,51.3773,84.1583,29.1734,49.9431,76.7883,80.7894,76.1012,50.781,74.3942,78.6585,88.6896,34.9072,25.0658,87.7455,51.6386,49.2634,77.7197,51.5802,82.9736],"persistence":[25.0,25.0,25.0,25.0,0.0,12.5,25.0,25.0,0.0,25.0,50.0,62.5,62.5,87.5,100.0,100.0,87.5,87.5,75.0,75.0,75.0,50.0,50.0,50.0,37.5,12.5,0.0,25.0,37.5,12.5,12.5,12.5,12.5,12.5,12.5,0.0,12.5,37.5,37.5,62.5,37.5,12.5,12.5,0.0,0.0,12.5,12.5,12.5,12.5,12.5,12.5,12.5],"assessmentRisk":[18.9835,23.1228,34.5253,46.1263,22.466,54.2128,41.1392,17.4441,28.5146,39.4541,19.1667,30.6657,18.0158,12.0798,28.1176,11.4403,47.5607,4.5885,13.8767,45.2434,8.1844,25.4842,31.2846,9.1832,28.3822,4.0513,21.8797,31.7888,44.4889,21.8425,19.0579,25.2324,53.2029,0.1598,25.0555,49.9556,35.4531,25.0009,26.312,6.4727,14.8747,34.1469,20.8603,17.8165,40.1742,12.4364,19.7242,23.8969,21.0479,24.7748,27.8938,18.6819],"volumeParticipation":true,"latest":{"consensus":-21.4,"control":-17.5,"force":-23.4,"direction":-24.5,"confirmation":83.0,"persistence":12.5,"assessmentRisk":18.7,"intensity":17.3,"evidenceDepth":100},"analysis":{"status":"Joint downward confirmation","headline":"The gauges support the downward market view","summary":"Price structure and Market Dynamics agree. Control, force and direction support the same downward assessment.","take":"Current assessment: downward pressure has broad support.","tone":"negative","supportedView":"Price structure and Market Dynamics","direction":"downward","disagreement":false},"support":{"window":"Latest 12 months","controlState":"Seller control supports the view","controlPath":"Broadly stable","forceState":"Downward commitment","forcePath":"Commitment is easing","directionState":"Downward follow-through","persistenceState":"Unsettled","confirmationState":"Strong support","riskState":"Contained","intensityState":"Quiet"},"cards":[{"label":"SM Consensus Gauge","value":"-21.4","detail":"Joint downward confirmation","tone":"negative"},{"label":"SM Control Gauge","value":"-17.5","detail":"Seller control supports the view","tone":"negative"},{"label":"SM Force Gauge","value":"-23.4","detail":"Downward commitment","tone":"negative"},{"label":"SM Direction Gauge","value":"-24.5","detail":"Downward 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