{"schema_version":"1.0","name":"TAXI Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"4f50fec2-994b-4e11-995c-c7fecfc2c905","symbol":"TAXI","name":"THEMES AUTONOMOUS DRIVING ETF","exchange":"NASDAQ","country":"US","asset_type":"etf","currency":"USD","sector":null,"industry":null},"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 evidence","description":"Six condition-selected views: Trend, acceptance and volatility envelope, Directional strength and control, Acceleration, deceleration and rollover, Range pressure and compression, Activity pressure and cumulative balance, 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":53,"displayedObservations":53,"assetType":"ETF","state":"Aligned downward","stateTone":"negative","summary":"Price structure and the underlying tape currently reinforce the same downside read.","evidenceAlignment":{"status":"Evidence aligned downward","headline":"Downward price structure is confirmed by Market Dynamics","summary":"Price structure and the underlying tape currently reinforce the same downside read.","take":"The downside state remains confirmed until Market Dynamics repairs or price structure 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Dynamics","value":"-0.64","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":[50.434895,51.343087],"zones":{"accumulationBoundary":-1.5,"accumulationDarkBoundary":-2.0,"distributionBoundary":1.5,"distributionDarkBoundary":2.0},"latest":-0.640798,"state":"Negative and weakening","context":{"scenario":"negativeWeakening","latestDirection":"strengthening","fourWeekDirection":"weakening","now":{"label":"Stronger this week","detail":"Market Dynamics improved this week but remains below zero."},"fourWeek":{"label":"Weakened over four weeks","detail":"Underlying support has contracted across the recent completed path."},"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":"Negative and weakening","detail":"Price is between the accumulation and distribution zones. The Market Dynamics bars describe whether the current move is gaining or losing underlying support.","tone":"negative"},"chartSummary":"Price is between the outer positioning zones. The Market Dynamics bars show whether underlying support is strengthening or weakening.","summary":"Price is between the accumulation and distribution zones. The Market Dynamics bars describe whether the current move is gaining or losing underlying support.","annotations":[{"label":"Current tape relationship","value":"Negative and weakening","detail":"Market Dynamics improved this week but remains below zero.","tone":"negative"},{"label":"Price location","value":"Between zones","detail":"Price is travelling between the two major positioning zones.","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":"Weakening","detail":"Underlying support has contracted across the recent completed path.","tone":"negative"}],"relationshipEvidence":{"available":false,"observations":25,"summary":"More completed weekly history is needed for a dependable ticker-level record."},"events":{"positioning_recoveries":[],"reversal_warnings":[],"reversal_dangers":[]}},"smTape":{"available":true,"dates":["2025-08-22","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":[49.175,49.1897,49.4918,49.8254,49.9481,49.7648,49.8811,50.0188,50.1762,50.25,50.2204,50.2466,50.222,50.3058,50.5123,50.489,50.5631,50.6744,50.709,50.8326,51.055,51.0991,51.0841,51.212,51.3584,51.5015,51.5616,51.6554,51.2944,51.0956,50.7037,50.5348,50.8185,51.0293,51.1338,51.1388,50.8861,50.9807,50.697,50.7014,51.0603,51.1162,51.047,51.211,51.2459,51.1618,51.0571,50.9025,50.4835,50.4976,50.765,50.79,50.635],"consensus":[100.0,74.9994,100.0,46.9524,73.0706,12.7554,71.2668,85.9067,87.858,78.0075,41.6793,66.8058,15.9048,63.5867,86.2384,49.3264,57.3505,76.06,61.9072,79.8943,86.5079,67.8099,54.0514,76.3947,77.7802,74.3609,67.7551,76.4818,-20.7426,-43.1792,-67.1925,-65.6677,0.0,21.7896,37.4994,29.2821,-43.973,11.3725,-59.6009,-26.0928,47.6566,27.8101,0.0,51.3966,37.0714,8.021,-14.3786,-33.2828,-44.3771,-33.1348,16.0688,0.0,-30.5572],"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":[null,null,null,null,16.7681,79.3411,86.2332,88.1459,70.9143,38.1211,67.0472,6.2823,60.5648,85.0663,51.08,45.4933,78.2394,64.8511,83.1399,91.3904,68.6068,60.3903,82.0486,85.7244,77.1712,73.1216,77.9715,-22.8902,-32.0968,-55.2589,-61.3893,0.0,35.9812,39.0208,33.8654,-48.8106,19.6426,-55.7207,-15.4061,45.8712,32.9984,0.0,48.1528,43.3164,18.542,-17.4365,-24.6721,-32.9938,-28.9483,24.2628,0.0,-40.7393],"force":[74.9994,100.0,46.9524,35.3918,32.8323,44.2256,92.822,93.7433,79.4586,8.9101,48.6044,30.5174,68.5675,92.9733,4.4123,65.3343,84.5832,51.8082,89.3343,96.869,59.1201,20.6337,75.1689,73.0172,70.6277,50.7842,78.0064,-80.1286,-83.9881,-97.0375,-72.275,0.0,39.5682,48.751,23.0036,-73.3468,33.7274,-71.6331,-5.5167,89.4236,26.1204,0.0,72.3964,29.1703,20.2981,-27.4847,-42.2738,-49.8252,-13.5521,64.5354,0.0,-37.2028],"direction":[null,null,null,99.9841,79.0592,81.3542,80.594,83.3251,85.0776,81.8812,79.5307,60.0606,63.4825,82.7675,79.4039,65.199,67.4813,65.7562,69.4423,73.527,73.1062,70.6768,70.8087,72.1034,73.8155,73.7442,73.6902,-24.1304,-26.6956,-59.5132,-65.8378,0.0,7.1284,27.7237,28.5286,-17.463,14.0469,-55.4409,-53.0033,19.8635,23.0876,0.0,40.1039,35.5779,16.225,-1.5225,-36.7016,-53.4951,-51.907,27.9147,0.0,-14.1737],"intensity":[null,null,null,50.0,40.0,33.3333,42.8571,50.0,55.5556,10.0,9.0909,41.6667,30.7692,78.5714,20.0,56.25,35.2941,27.7778,52.6316,85.0,33.3333,13.6364,56.5217,87.5,72.0,30.7692,29.6296,96.4286,89.6552,100.0,100.0,81.25,81.8182,29.4118,54.2857,75.0,24.3243,78.9474,66.6667,90.0,87.8049,14.2857,51.1628,27.2727,20.0,32.6087,93.617,100.0,97.9592,72.0,58.8235,46.1538],"confirmation":[46.6665,54.6667,37.6914,66.9935,36.3904,89.8582,95.6959,96.2895,93.1147,36.4173,88.8195,10.3318,88.5456,95.8194,59.7223,86.7762,92.5657,87.4577,93.8044,95.9239,89.4222,84.1814,92.3228,92.6235,91.6389,89.0827,92.4979,36.2293,83.2299,90.593,89.2802,35.6678,54.1523,80.3195,77.1091,82.8928,29.8578,87.4981,53.2188,84.5502,76.7687,4.4627,85.1363,79.5269,28.5403,50.2873,79.0557,82.5402,78.0701,35.116,25.1609,85.8257],"persistence":[null,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,75.0,50.0,25.0,0.0,12.5,12.5,12.5,12.5,12.5,12.5,12.5,12.5,25.0,25.0,12.5,12.5,37.5,37.5,37.5,37.5,12.5,12.5,0.0,12.5,37.5],"assessmentRisk":[null,null,null,13.4639,43.3825,13.2374,1.2898,1.3893,10.8799,28.2876,12.9989,8.1765,11.7534,5.6408,23.3974,21.2234,11.9141,18.655,10.0462,6.7456,16.0933,22.965,11.797,11.0671,12.818,16.1222,11.759,11.6726,27.9383,16.3926,17.1652,51.7347,26.482,29.6984,35.0658,37.2562,16.9705,18.494,35.3171,7.2879,13.3202,45.1412,23.8561,20.3286,9.1673,10.2893,31.0118,27.7686,33.3467,52.7733,23.8611,48.1858],"volumeParticipation":true,"latest":{"consensus":-30.6,"control":-40.7,"force":-37.2,"direction":-14.2,"confirmation":85.8,"persistence":37.5,"assessmentRisk":48.2,"intensity":46.2,"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":"Present","intensityState":"Normal"},"cards":[{"label":"SM Consensus Gauge","value":"-30.6","detail":"Joint downward confirmation","tone":"negative"},{"label":"SM Control Gauge","value":"-40.7","detail":"Seller control supports the view","tone":"negative"},{"label":"SM Force Gauge","value":"-37.2","detail":"Downward commitment","tone":"negative"},{"label":"SM Direction Gauge","value":"-14.2","detail":"Downward follow-through","tone":"negative"},{"label":"SM Confirmation Gauge","value":"86/100","detail":"Strong support","tone":"positive"}]},"kpis":[{"label":"Price structure","value":"Aligned downward","detail":"completed-week alignment","tone":"negative"},{"label":"Momentum","value":"44.7","detail":"Negative","tone":"negative"},{"label":"Risk pressure","value":"0.7%","detail":"Elevated","tone":"caution"},{"label":"Trend quality","value":"41.3","detail":"Directional","tone":"positive"},{"label":"Range position","value":"62%","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 and its trend references are aligned downward.","series":[{"label":"Close","values":[49.175,49.1897,49.4918,49.8254,49.9481,49.7648,49.8811,50.0188,50.1762,50.25,50.2204,50.2466,50.222,50.3058,50.5123,50.489,50.5631,50.6744,50.709,50.8326,51.055,51.0991,51.0841,51.212,51.3584,51.5015,51.5616,51.6554,51.2944,51.0956,50.7037,50.5348,50.8185,51.0293,51.1338,51.1388,50.8861,50.9807,50.697,50.7014,51.0603,51.1162,51.047,51.211,51.2459,51.1618,51.0571,50.9025,50.4835,50.4976,50.765,50.79,50.635],"stroke":"#10243b","width":2.1},{"label":"Fast trend","values":[null,null,null,null,49.4524,49.5092,49.5768,49.6572,49.7515,49.8421,49.9109,49.972,50.0174,50.0699,50.1503,50.2119,50.2758,50.3482,50.4138,50.49,50.5927,50.6848,50.7574,50.84,50.9343,51.0374,51.1327,51.2278,51.2399,51.2137,51.1209,51.0144,50.9787,50.9879,51.0145,51.0371,51.0096,51.0044,50.9485,50.9036,50.9321,50.9656,50.9804,51.0223,51.063,51.0809,51.0766,51.0449,50.9429,50.8619,50.8443,50.8344,50.7982],"stroke":"#176fa3","width":1.7},{"label":"Slow trend","values":[null,null,null,null,null,null,null,null,null,null,null,null,49.6776,49.7241,49.7825,49.8348,49.8888,49.947,50.0034,50.0648,50.1382,50.2094,50.2742,50.3436,50.4188,50.499,50.5777,50.6575,50.7047,50.7337,50.7314,50.7169,50.7244,50.747,50.7756,50.8026,50.8087,50.8215,50.8123,50.804,50.823,50.8448,50.8597,50.8857,50.9124,50.9309,50.9403,50.9375,50.9038,50.8737,50.8657,50.8601,50.8434],"stroke":"#07865c","width":1.8},{"label":"Upper envelope","values":[null,null,null,null,null,null,null,null,null,50.4855,50.5403,50.5856,50.6128,50.6501,50.726,50.7793,50.8366,50.9051,50.9671,51.0415,51.112,51.1536,51.2077,51.3072,51.4279,51.5363,51.6416,51.7549,51.7924,51.8001,51.7772,51.756,51.7236,51.7005,51.6991,51.6875,51.6685,51.6578,51.6588,51.6664,51.6666,51.6676,51.6659,51.6658,51.6514,51.602,51.5249,51.3975,51.3883,51.3947,51.3929,51.3756,51.3833],"stroke":"#98a9b8","width":1.0,"dash":[6,5]},{"label":"Lower envelope","values":[null,null,null,null,null,null,null,null,null,49.0587,49.0854,49.1124,49.1426,49.1664,49.1711,49.1853,49.1964,49.201,49.208,49.2081,49.3257,49.475,49.5801,49.6192,49.6395,49.7049,49.7676,49.818,49.8923,49.9692,50.0404,50.0904,50.1824,50.2779,50.3415,50.418,50.4693,50.5107,50.5085,50.4878,50.4881,50.4888,50.4868,50.4868,50.4899,50.5054,50.532,50.5841,50.5123,50.446,50.4539,50.4967,50.4708],"stroke":"#98a9b8","width":1.0,"dash":[6,5]}],"guides":[],"dates":["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"]},{"key":"directional","eyebrow":"Trend 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,84.1208,84.8279,82.9002,79.0048,76.7724,73.4122,70.3869,68.1051,66.142,64.3306,61.6484,58.9079,55.5125,51.8436,49.3815,47.4157,45.621,44.1137,42.7798,41.0712,39.2629,37.0405,38.4746,39.8064,40.5468,40.8689,41.2877],"stroke":"#10243b","width":2.0},{"label":"Positive 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Market Dynamics construction and private inputs are not disclosed. Historical research is not a forecast or instruction to trade."}