{"schema_version":"1.0","name":"CION Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-14","ticker":{"uuid":"54d916ab-78a3-4ccd-bdbd-5239b3456a71","symbol":"CION","name":"Cion Investment Corp","exchange":"NYSE","country":"US","asset_type":"equity","currency":"USD","sector":"Financial Services","industry":"Asset Management"},"summary":"Market Dynamics strengthened this week and remains positive. Underlying support has strengthened across the recent completed path. Price has not yet responded to the same extent.","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, Strength versus the research benchmark, Range position and boundary pressure, Acceleration, deceleration and rollover, Drawdown and recovery pressure, Activity pressure and cumulative balance."},{"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":"2026-08-14","observations":254,"displayedObservations":104,"assetType":"Equity","state":"Rotational","stateTone":"caution","summary":"Market Dynamics strengthened this week and remains positive. 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cautious, Market Dynamics positive","kind":"disagreement","expectedDirection":"higher","episodes":17,"completedEpisodes":15,"activeEpisodes":2,"medianExpectedMove":5.9,"averageExpectedMove":7.1,"averageWeeksToLargestMove":7.8,"horizons":[{"weeks":4,"sample":17,"expectedCount":8,"expectedPercent":47.1,"averageReturn":-0.4,"medianReturn":-1.2,"confidenceLow":26.2,"confidenceHigh":69.0,"confidence":"Mixed historical record"},{"weeks":12,"sample":15,"expectedCount":11,"expectedPercent":73.3,"averageReturn":1.4,"medianReturn":3.4,"confidenceLow":48.0,"confidenceHigh":89.1,"confidence":"Mixed historical record"},{"weeks":26,"sample":15,"expectedCount":12,"expectedPercent":80.0,"averageReturn":4.4,"medianReturn":6.5,"confidenceLow":54.8,"confidenceHigh":93.0,"confidence":"Historically consistent"}],"path":[{"week":0,"sample":0},{"week":1,"averageReturn":0.4,"sample":17},{"week":2,"averageReturn":-0.8,"sample":17},{"week":3,"averageReturn":-1.9,"sample":17},{"week":4,"averageReturn":-0.4,"sample":17},{"week":5,"averageReturn":0.4,"sample":17},{"week":6,"averageReturn":0.8,"sample":16},{"week":7,"averageReturn":1.5,"sample":16},{"week":8,"averageReturn":-0.4,"sample":15},{"week":9,"averageReturn":-0.2,"sample":15},{"week":10,"averageReturn":0.1,"sample":15},{"week":11,"averageReturn":-0.1,"sample":15},{"week":12,"averageReturn":1.4,"sample":15},{"week":13,"averageReturn":1.0,"sample":15},{"week":14,"averageReturn":1.5,"sample":15},{"week":15,"averageReturn":2.9,"sample":15},{"week":16,"averageReturn":4.2,"sample":15},{"week":17,"averageReturn":4.8,"sample":15},{"week":18,"averageReturn":5.8,"sample":15},{"week":19,"averageReturn":5.4,"sample":15},{"week":20,"averageReturn":5.0,"sample":15},{"week":21,"averageReturn":5.2,"sample":15},{"week":22,"averageReturn":5.1,"sample":15},{"week":23,"averageReturn":4.9,"sample":15},{"week":24,"averageReturn":6.0,"sample":15},{"week":25,"averageReturn":4.0,"sample":15},{"week":26,"averageReturn":4.4,"sample":15}]}},"pricePressureGap":{"label":"Price elevated relative to Market Dynamics","kind":"structuralDivergence","expectedDirection":"lower","episodes":0,"completedEpisodes":0,"activeEpisodes":0,"horizons":[{"weeks":4,"sample":0,"expectedCount":0,"confidence":"Not enough evidence"},{"weeks":12,"sample":0,"expectedCount":0,"confidence":"Not enough evidence"},{"weeks":26,"sample":0,"expectedCount":0,"confidence":"Not enough evidence"}],"path":[{"week":0,"sample":0},{"week":1,"sample":0},{"week":2,"sample":0},{"week":3,"sample":0},{"week":4,"sample":0},{"week":5,"sample":0},{"week":6,"sample":0},{"week":7,"sample":0},{"week":8,"sample":0},{"week":9,"sample":0},{"week":10,"sample":0},{"week":11,"sample":0},{"week":12,"sample":0},{"week":13,"sample":0},{"week":14,"sample":0},{"week":15,"sample":0},{"week":16,"sample":0},{"week":17,"sample":0},{"week":18,"sample":0},{"week":19,"sample":0},{"week":20,"sample":0},{"week":21,"sample":0},{"week":22,"sample":0},{"week":23,"sample":0},{"week":24,"sample":0},{"week":25,"sample":0},{"week":26,"sample":0}]},"currentApplication":{"status":"Underlying strength ahead of price","tone":"caution","headline":"Underlying strength is leading price","use":"A positive price response is needed before the early upside case is confirmed.","confirm":"Treat the gap as an early-upside opportunity watch. A continued positive price response would confirm that price is catching up with the stronger foundation.","invalidate":"Reassess the reading when either price structure or the Market Dynamics state changes materially.","level":"positive","direction":"strengthening","zone":"middle","zoneContext":"Market Dynamics has strengthened across the recent completed path and remains strongly positive, while price has not advanced as far through its range. The gap is an early-upside watch; a positive price response is needed for confirmation.","historical":{"label":"Broad directional cases","weeks":12,"direction":"higher","percent":73.3,"averageReturn":1.4,"sample":15},"nowContext":{"label":"Stronger this week","detail":"Market Dynamics strengthened this week and remains positive."},"fourWeekContext":{"label":"Strengthened over four weeks","detail":"Underlying support has strengthened across the recent completed path."},"priceContext":{"label":"Price is lagging the underlying strength","detail":"Market Dynamics has advanced further through its recent range than price. This is positive divergence and an early-upside watch, but price confirmation is still required."}},"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":"Early repair watch","title":"Prepare the case before price confirms the recovery","tone":"recovery","approach":"Use the improvement to move the ticker onto a watchlist or define an entry trigger. Commitment should rise only after price responds; fading Market Dynamics cancels the early case.","finding":"In this ticker's completed record, 73.3% of comparable cases moved higher after 12 weeks, with an average move of 1.4% across 15 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 3 cases. Distinct visits lasted 1.8 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 improving Market Dynamics to prepare, not anticipate","tone":"recovery","finding":"Comparable disagreements produced an average recovery of 7.1% across 15 completed cases, with the largest move arriving after 7.8 weeks on average.","approach":"Define the price level that would confirm the repair. Until that response occurs, keep the idea at watchlist or starter-position size.","watch":"The early repair fails if Market Dynamics fades before price responds."}]},"summary":"This record compares the ticker's completed price path with its published Market Dynamics history."},"events":{"positioning_recoveries":[],"distribution_rollovers":[{"date":"2025-03-14","price":8.520412}],"price_pressure_gaps":[]}},"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":[8.6537,8.6327,8.3959,8.4899,8.678,8.5912,8.584,8.5912,8.7358,8.6056,8.4249,8.3236,8.2007,8.461,8.4972,8.5573,8.8557,8.6916,8.4976,8.6178,8.1682,8.5579,8.6028,8.7827,8.7152,9.1274,9.3522,9.3972,9.4047,8.5204,8.1232,8.1008,7.3488,6.8372,7.3256,7.8139,7.7054,7.2713,7.6124,7.4263,7.4961,7.3321,7.2999,7.453,7.6624,7.9203,7.9203,8.1137,8.1056,7.7511,8.6535,8.4198,8.6293,8.7018,8.5471,8.2802,8.4303,8.0467,7.9133,7.6131,7.6382,7.8633,7.6298,8.0217,8.472,8.1802,8.472,8.5978,8.8227,8.3729,8.295,8.4161,8.321,8.2604,8.1992,8.1293,7.7185,7.6398,7.5514,7.0562,7.0297,5.8802,5.9969,6.0148,6.1315,6.3021,7.058,6.8121,7.2675,6.6391,6.2201,6.0538,6.2386,6.2109,6.4383,6.4445,6.0214,6.2871,6.2133,6.0289,5.8808,5.8808,7.4103,7.43],"consensus":[25.9322,17.1245,-30.9038,11.7451,28.2667,0.0,11.4363,17.7537,32.8253,-15.3912,-38.6149,-33.1694,-50.1578,22.8542,0.0,20.8783,59.8277,-8.8611,-27.3624,25.2236,-64.3708,29.4934,12.017,42.4472,16.4041,64.2259,59.271,48.0324,36.7916,-61.1667,-63.7431,-43.6996,-80.6917,-72.3287,0.0,12.9351,-18.9393,-50.7409,14.1023,-39.6028,-19.6015,-28.7815,-34.0749,0.0,26.701,43.9793,29.3771,44.9984,20.6268,-28.5371,68.815,0.0,53.9271,40.6294,0.0,-22.5959,22.1645,-44.8022,-35.8582,-60.4558,-36.0841,0.0,-45.3106,32.8734,58.2384,-10.4805,52.5107,43.4663,47.2943,-25.0222,0.0,14.1509,-15.4079,-9.2146,0.0,-21.6638,-61.708,-38.5376,-42.2698,-77.9239,-39.3655,-86.3921,-32.469,-52.5294,-28.1298,0.0,50.171,-14.0151,53.502,-34.3241,-53.8509,-51.8322,-13.0333,-27.8735,19.5427,-9.6723,-46.6229,10.8876,-14.7958,-35.9945,-33.7661,-24.8484,69.6116,36.9548],"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":[56.9345,34.2807,0.0,-24.7329,27.2337,-43.4679,-34.0996,-63.3405,-35.0581,0.0,-44.8693,28.1138,56.4681,-19.6529,54.4515,42.9727,45.5241,-31.1033,0.0,21.125,-7.8552,-6.9921,0.0,-18.4998,-57.0815,-33.5636,-38.978,-78.8701,-33.9862,-88.6428,-28.6958,-55.5914,-18.1897,0.0,44.0175,-25.955,54.103,-38.9885,-50.5821,-58.8059,-2.5736,-27.0043,19.3973,-22.2285,-49.2524,11.5072,-12.2785,-35.8498,-40.2707,-23.5681,60.1535,30.5506],"force":[44.4202,22.926,0.0,-56.1206,30.6741,-66.3945,-33.7153,-67.5107,-16.7969,0.0,-51.4001,63.0693,78.0842,-41.5718,60.0986,39.0955,47.4283,-76.1626,0.0,19.1731,-28.5373,-13.7253,0.0,-21.1493,-83.5455,-25.7208,-29.1616,-93.6876,-13.8596,-99.1691,-19.2681,-21.2995,-11.0865,0.0,94.947,-29.0469,69.9451,-69.315,-67.1718,-41.9132,-14.2101,-14.8628,45.9321,-14.6569,-61.1531,33.59,-10.606,-39.7009,-28.7819,-10.8131,97.6113,12.4466],"direction":[57.2808,60.5303,0.0,-3.7926,10.2929,-30.9039,-39.3986,-52.1197,-51.0333,0.0,-41.4655,16.7445,46.0859,-22.2102,44.8727,47.1522,49.2217,-18.4566,0.0,2.5931,-14.6613,-8.5326,0.0,-25.6474,-51.3973,-53.3769,-55.3949,-65.5829,-63.7317,-74.6935,-73.7364,-71.3371,-67.5016,0.0,25.2208,-10.3675,41.0702,-3.9999,-48.0719,-50.9474,-44.4467,-38.1601,0.8592,-8.2381,-33.2389,6.0364,-20.6655,-33.5123,-29.8924,-36.3369,60.4212,61.7799],"intensity":[44.2308,50.0,26.9231,57.6923,23.0769,69.2308,67.3077,61.5385,1.9231,44.2308,46.1538,80.7692,78.8462,53.8462,53.8462,32.6923,59.6154,75.0,76.9231,11.5385,25.0,25.0,28.8462,7.6923,69.2308,59.6154,9.6154,86.5385,46.1538,100.0,94.2308,63.4615,48.0769,65.3846,94.2308,90.3846,80.7692,90.3846,92.3077,40.3846,26.9231,13.4615,38.4615,86.5385,84.6154,42.3077,13.4615,25.0,51.9231,7.6923,100.0,98.0769],"confirmation":[84.9211,80.5586,6.6,54.3622,75.2747,83.0151,79.4361,87.5169,78.9748,30.0128,82.6917,79.5123,87.2681,31.5664,85.0051,81.7835,83.1652,36.0771,25.0364,49.9084,50.7791,48.4533,24.2567,74.965,88.4826,80.0172,81.177,93.4017,79.9016,96.0006,35.648,83.811,32.9896,31.2332,85.5131,29.6394,85.6126,57.3124,85.6881,84.1778,6.5313,76.5362,52.3935,27.4798,83.3221,50.7876,72.6453,79.6334,78.5541,75.5433,91.2732,79.1762],"persistence":[62.5,62.5,50.0,25.0,25.0,25.0,0.0,12.5,37.5,50.0,62.5,37.5,37.5,37.5,12.5,12.5,37.5,25.0,37.5,37.5,12.5,12.5,0.0,25.0,50.0,50.0,62.5,87.5,87.5,87.5,100.0,100.0,100.0,87.5,62.5,62.5,37.5,37.5,37.5,37.5,37.5,50.0,50.0,50.0,75.0,50.0,50.0,50.0,50.0,50.0,50.0,25.0],"assessmentRisk":[20.2462,29.5269,19.2391,9.9084,39.5117,25.784,30.1123,17.9724,31.1642,26.6085,12.294,30.6565,20.7143,46.8887,23.514,26.7306,19.368,40.969,24.8611,35.9054,40.17,15.5061,15.3088,29.9422,18.2665,30.4184,28.6834,11.034,30.2053,6.8023,33.7585,23.5603,35.5193,45.955,24.2917,54.808,22.6376,48.2651,20.2994,20.2324,42.3114,22.4246,18.1427,45.405,3.28,4.6518,19.745,26.1774,5.2511,33.5898,14.5721,31.3209],"volumeParticipation":true,"latest":{"consensus":37.0,"control":30.6,"force":12.4,"direction":61.8,"confirmation":79.2,"persistence":25.0,"assessmentRisk":31.3,"intensity":98.1,"evidenceDepth":100},"analysis":{"status":"Market Dynamics 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":"Market Dynamics","direction":"upward","disagreement":false},"support":{"window":"Latest 12 months","controlState":"Buyer control supports the view","controlPath":"Broadly stable","forceState":"Upward commitment","forcePath":"Commitment is easing","directionState":"Upward follow-through","persistenceState":"Unsettled","confirmationState":"Strong support","riskState":"Contained","intensityState":"Elevated"},"cards":[{"label":"SM Consensus Gauge","value":"+37.0","detail":"Market Dynamics has stronger support","tone":"positive"},{"label":"SM Control Gauge","value":"+30.6","detail":"Buyer control supports the view","tone":"positive"},{"label":"SM Force Gauge","value":"+12.4","detail":"Upward commitment","tone":"positive"},{"label":"SM Direction Gauge","value":"+61.8","detail":"Upward follow-through","tone":"positive"},{"label":"SM Confirmation Gauge","value":"79/100","detail":"Strong support","tone":"positive"}]},"kpis":[{"label":"Price structure","value":"Rotational","detail":"completed-week alignment","tone":"caution"},{"label":"Momentum","value":"59.4","detail":"Positive","tone":"positive"},{"label":"Risk pressure","value":"7.2%","detail":"Elevated","tone":"caution"},{"label":"Trend quality","value":"20.1","detail":"Range-led","tone":"neutral"},{"label":"Range position","value":"85%","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 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