{"schema_version":"1.0","name":"EHCC Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"45110b3e-2fbf-468f-ba84-c2fabd6e2d86","symbol":"EHCC","name":"Global X Ethereum Covered Call ETF","exchange":"CBOE","country":"US","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, Acceleration, deceleration and rollover, Drawdown and recovery 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":[22.816,23.762303,24.436723,24.748736,24.660813,24.847905,24.981286,23.213114,22.751081,22.102103,18.468498,19.408285,18.92596,17.307773,18.349291,18.573165,19.448424,19.891541,19.42703,19.5578,19.7],"highs":[22.949811,24.789023,26.005536,25.559861,24.8364,25.096738,24.981286,23.45493,22.751081,22.102103,18.532329,19.408285,19.042249,18.287092,18.819965,19.547163,19.638931,19.891541,19.858601,19.667173,22.47],"lows":[22.815907,23.105876,24.436723,24.663851,24.212979,24.502783,24.062233,22.686763,21.83444,17.48056,18.088801,18.568124,17.249079,17.307773,18.329874,18.549281,19.34365,19.409448,19.42703,19.309226,19.68],"closes":[22.949811,24.750685,25.946458,25.035459,24.586598,24.777325,24.062233,22.686763,22.36934,17.761869,18.433681,18.771319,17.4239,18.252477,18.819965,19.097349,19.368061,19.489109,19.794647,19.556806,22.4168],"hoverRows":[[{"label":"Open","value":"22.8","className":"is-ohlc","compact":true},{"label":"High","value":"22.9","className":"is-ohlc","compact":true},{"label":"Low","value":"22.8","className":"is-ohlc","compact":true},{"label":"Close","value":"22.9","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":[16.912547,26.457811],"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":"2026-04-10","price":24.750685}],"reversal_dangers":[{"date":"2026-04-17","price":25.946458}]}},"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":[22.9498,24.7507,25.9465,25.0355,24.5866,24.7773,24.0622,22.6868,22.3693,17.7619,18.4337,18.7713,17.4239,18.2525,18.82,19.0973,19.3681,19.4891,19.7946,19.5568,22.4168],"consensus":[100.0,95.4445,92.4684,-9.8906,52.3506,32.2024,-37.6955,-74.8662,-55.1205,-91.9918,-31.478,-45.9474,-81.2069,10.7018,0.0,0.0,0.0,-9.5032,21.1115,-10.5876,74.3862],"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,35.1411,-38.1273,-81.0554,-47.7627,-88.492,-12.6311,-47.5538,-85.8097,9.598,0.0,0.0,0.0,-29.3027,16.6891,-12.875,66.329],"force":[100.0,95.4445,92.4684,-9.8906,6.4305,6.3141,-55.1127,-62.3784,-35.81,-98.5849,-16.1117,-8.8043,-67.8431,83.7524,0.0,0.0,0.0,-9.6145,42.2662,-20.2564,99.2998],"direction":[null,null,null,null,94.337,47.3355,-24.761,-76.7126,-77.3225,-91.2822,-87.01,-83.2199,-85.4921,40.2158,0.0,0.0,0.0,-0.5308,11.0552,-1.0671,65.799],"intensity":[null,null,null,null,25.0,20.0,33.3333,85.7143,50.0,100.0,90.0,45.4545,66.6667,30.7692,57.1429,26.6667,31.25,5.8824,16.6667,5.2632,90.0],"confirmation":[54.6667,53.2089,52.2566,25.8316,38.7895,54.8043,80.5868,91.4823,85.1622,97.6916,35.0136,37.555,93.5088,36.9137,9.3275,31.761,7.209,4.2078,75.4678,48.9812,55.0],"persistence":[null,null,100.0,50.0,60.0,66.6667,42.8571,25.0,0.0,25.0,50.0,50.0,75.0,75.0,62.5,50.0,37.5,37.5,12.5,12.5,12.5],"assessmentRisk":[null,null,null,null,18.697,14.7791,28.8638,11.3022,21.202,3.9761,34.143,26.2642,9.2185,10.0571,12.5378,14.0793,47.865,40.2225,19.5458,21.1718,10.6508],"volumeParticipation":true,"latest":{"consensus":74.4,"control":66.3,"force":99.3,"direction":65.8,"confirmation":55.0,"persistence":12.5,"assessmentRisk":10.7,"intensity":90.0,"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 strengthening","forceState":"Upward commitment","forcePath":"Commitment is strengthening","directionState":"Upward follow-through","persistenceState":"Unsettled","confirmationState":"Qualified support","riskState":"Contained","intensityState":"Elevated"},"cards":[{"label":"SM Consensus Gauge","value":"+74.4","detail":"Completed tape has stronger support","tone":"positive"},{"label":"SM Control Gauge","value":"+66.3","detail":"Buyer control supports the view","tone":"positive"},{"label":"SM Force Gauge","value":"+99.3","detail":"Upward 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