{"schema_version":"1.0","name":"CEGI Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"5f94708b-0bea-4cc8-8775-fd483a5301d0","symbol":"CEGI","name":"REX Crypto Equity Income & Growth UCITS ETF Distributing","exchange":"LSE","country":"GB","asset_type":"etf","currency":"USD","sector":null,"industry":null},"summary":"Market Dynamics weakened this week and remains below zero. Underlying support has contracted across the recent completed path. Price structure remains rotational.","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, Acceleration, deceleration and rollover, Range pressure and compression, Strength versus the research benchmark, 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":59,"displayedObservations":59,"assetType":"ETF","state":"Rotational","stateTone":"caution","summary":"Market Dynamics weakened this week and remains below zero. Underlying support has contracted across the recent completed path. Price structure remains rotational.","evidenceAlignment":{"status":"Underlying support lags price","headline":"Market Dynamics is weaker than the current price position","summary":"Market Dynamics weakened this week and remains below zero. Underlying support has contracted across the recent completed path. Price structure remains rotational.","take":"This is a downside risk watch, not a completed reversal. Stronger Market Dynamics or weaker price is needed to close the 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its underlying support","use":"Market Dynamics must catch up or price may correct toward the weaker underlying position.","confirm":"This is a downside risk watch, not a completed reversal. Stronger Market Dynamics or weaker price is needed to close the gap.","invalidate":"Reassess the reading when either price structure or the Market Dynamics state changes materially.","level":"negative","direction":"weakening","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":17.1,"sample":1},"nowContext":{"label":"Slightly easier this week","detail":"Market Dynamics weakened this week and 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 17.1% across 1 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 2.0 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 7.3% across 1 completed cases, with the largest move arriving after 1.0 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":[{"date":"2026-05-01","price":28.070389}],"reversal_warnings":[{"date":"2026-05-29","price":32.373974}],"reversal_dangers":[{"date":"2026-06-26","price":30.74213}]}},"smTape":{"available":true,"dates":["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":[22.5177,23.2279,23.0353,21.7883,22.5391,23.0118,23.461,23.2834,22.9569,25.1013,26.2246,25.7515,28.4022,29.5758,28.9757,28.8163,29.6683,27.3176,26.0251,23.3636,26.7179,26.5596,26.4241,25.747,25.9133,26.0396,27.0918,28.0038,27.9874,27.1528,24.9615,25.3707,24.7687,24.7021,24.2572,24.4618,24.3446,23.153,23.601,25.7398,27.6305,28.0921,28.0704,29.8035,30.0162,30.8998,32.374,30.4624,31.5093,32.3179,30.7421,30.1383,30.0966,27.7262,29.1144,28.0333,28.5272,28.4854,29.035],"consensus":[100.0,32.4858,-42.5232,-48.686,12.3365,18.6519,43.5948,15.5907,-9.7118,79.5275,78.9919,12.5763,90.3646,73.2305,15.141,26.8355,34.4775,-37.475,-44.094,-66.7824,30.881,0.0,-10.1307,-10.1546,-13.4082,0.0,28.9945,42.6898,25.8229,-11.5085,-49.6673,-18.485,-32.9744,-27.0443,-33.9906,-10.2715,-26.5051,-53.8119,0.0,41.5281,60.0626,50.3114,35.2928,59.1003,38.605,56.1294,72.7081,0.0,51.245,45.0409,0.0,9.1154,0.0,-50.1923,13.5781,-37.7007,-13.8169,0.0,-8.5837],"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":[1.8718,-21.6765,77.3731,78.7058,0.6002,90.2601,61.0108,1.9487,9.0874,22.4939,-32.1383,-32.8107,-63.2203,42.1982,0.0,-17.7849,-20.4852,-12.5204,0.0,33.6943,46.8296,22.8091,-21.4384,-38.2871,-12.9261,-23.0289,-21.5951,-35.6785,-2.1889,-29.7913,-51.8102,0.0,45.0053,60.629,50.3516,32.8426,59.7521,34.4193,61.2961,70.8437,0.0,58.8977,48.7972,0.0,15.6678,0.0,-51.0939,17.7373,-30.9735,-8.5811,0.0,-6.7837],"force":[10.7832,-32.5028,86.3356,76.1809,53.5476,99.0189,77.1585,52.5357,12.0705,20.7587,-93.9146,-82.3954,-87.3448,75.3445,0.0,-15.2648,-13.875,-9.067,0.0,36.0188,40.4498,14.9467,-35.553,-77.6072,-0.2821,-31.1178,-12.9362,-27.4021,-9.6499,-18.5778,-64.688,0.0,61.8661,74.3082,45.6037,15.2018,55.7524,17.6307,40.7562,84.4708,0.0,36.8389,24.7682,0.0,0.5709,0.0,-51.5749,58.0244,-45.6997,-0.9512,0.0,-31.013],"direction":[50.1079,-20.2414,77.1269,81.3268,74.8666,84.3025,84.3901,78.5583,74.9091,57.9723,-3.2601,-29.6312,-56.1659,13.8126,0.0,-2.2843,-4.3091,-17.5237,0.0,18.6059,39.5587,37.0359,-17.0145,-42.7161,-38.2431,-45.667,-43.3491,-36.7677,-33.7383,-28.4118,-48.3309,0.0,23.027,49.2398,53.6282,52.4437,60.7467,58.3705,61.2056,66.4369,0.0,52.789,55.2284,0.0,7.7302,0.0,-48.1743,22.9226,-39.6753,-28.9905,0.0,-5.3802],"intensity":[42.8571,12.5,100.0,90.0,63.6364,100.0,92.3077,35.7143,6.6667,75.0,88.2353,83.3333,100.0,100.0,66.6667,36.3636,60.8696,41.6667,16.0,61.5385,44.4444,3.5714,44.8276,100.0,67.7419,53.125,18.1818,11.7647,34.2857,50.0,54.0541,65.7895,79.4872,72.5,82.9268,14.2857,76.7442,15.9091,42.2222,73.913,70.2128,45.8333,63.2653,84.0,25.4902,13.4615,94.2308,55.7692,53.8462,63.4615,34.6154,40.3846],"confirmation":[6.6947,30.6049,93.6891,93.1961,13.7615,97.182,91.7397,14.1912,32.9138,78.7973,59.1267,83.4493,90.0513,36.6779,24.7727,49.1023,49.4581,72.1718,27.7077,77.4207,81.5294,75.9778,30.5606,84.9185,50.8215,78.6468,76.3072,78.6505,4.8616,76.19,85.5818,6.0892,81.8558,87.6456,83.9556,78.7187,86.8001,79.7782,85.4142,91.6535,33.5026,83.8427,81.738,28.0812,25.2233,25.4426,84.0899,33.193,80.4105,49.4424,1.849,27.2722],"persistence":[50.0,25.0,25.0,50.0,75.0,75.0,75.0,75.0,75.0,100.0,75.0,50.0,25.0,25.0,12.5,12.5,37.5,62.5,50.0,25.0,0.0,0.0,12.5,12.5,12.5,12.5,25.0,50.0,75.0,100.0,100.0,87.5,62.5,37.5,12.5,12.5,37.5,62.5,87.5,100.0,87.5,87.5,87.5,75.0,75.0,62.5,37.5,37.5,25.0,0.0,12.5,0.0],"assessmentRisk":[41.1514,33.796,9.3451,10.3198,43.3659,4.8143,13.3674,41.8342,36.2518,26.1081,28.7231,26.8455,16.5325,62.0516,18.823,16.7612,49.7334,15.864,20.3997,6.8605,24.0812,31.3146,37.6754,20.0788,38.3251,32.986,36.2691,18.3841,35.4069,11.2718,20.7007,29.2148,21.9197,19.6996,24.8297,32.3257,20.4289,30.0065,21.7013,13.6344,27.9705,17.5706,20.0159,46.4564,17.5416,38.5536,24.842,49.3319,27.1076,35.6809,29.5271,7.5341],"volumeParticipation":true,"latest":{"consensus":-8.6,"control":-6.8,"force":-31.0,"direction":-5.4,"confirmation":27.3,"persistence":0.0,"assessmentRisk":7.5,"intensity":40.4,"evidenceDepth":100},"analysis":{"status":"Market Dynamics has stronger support","headline":"The gauges support the downward view","summary":"The completed evidence gives the downward view the clearer support.","take":"Current assessment: downward pressure has the stronger support.","tone":"negative","supportedView":"Market Dynamics","direction":"downward","disagreement":false},"support":{"window":"Latest 12 months","controlState":"Control support is limited","controlPath":"Control support is easing","forceState":"Downward commitment","forcePath":"Commitment is easing","directionState":"Follow-through is limited","persistenceState":"Unsettled","confirmationState":"Limited support","riskState":"Contained","intensityState":"Normal"},"cards":[{"label":"SM Consensus Gauge","value":"-8.6","detail":"Market Dynamics has stronger support","tone":"negative"},{"label":"SM Control Gauge","value":"-6.8","detail":"Control support is limited","tone":"negative"},{"label":"SM Force Gauge","value":"-31.0","detail":"Downward 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direction.","series":[{"label":"Impulse","values":[null,null,null,null,null,null,null,null,null,null,null,null,0.9592,1.28,1.4689,1.5874,1.7301,1.6347,1.4382,1.0555,1.0113,0.9525,0.8847,0.7676,0.6803,0.6142,0.6394,0.7246,0.7818,0.7511,0.5437,0.4076,0.2484,0.1154,-0.0255,-0.1193,-0.2008,-0.3574,-0.4403,-0.3296,-0.0883,0.1386,0.313,0.5844,0.8073,1.0432,1.3338,1.3937,1.5083,1.6454,1.6084,1.5129,1.4175,1.1375,1.0159,0.8228,0.7016,0.5953,0.549],"stroke":"#1678a7","width":2.0},{"label":"Signal","values":[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,1.312,1.3765,1.3889,1.3222,1.26,1.1985,1.1358,1.0621,0.9857,0.9114,0.857,0.8305,0.8208,0.8068,0.7542,0.6849,0.5976,0.5012,0.3958,0.2928,0.1941,0.0838,-0.021,-0.0828,-0.0839,-0.0394,0.0311,0.1418,0.2749,0.4285,0.6096,0.7664,0.9148,1.0609,1.1704,1.2389,1.2746,1.2472,1.2009,1.1253,1.0406,0.9515,0.871],"stroke":"#b87806","width":1.7},{"label":"Expansion","values":[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,0.4181,0.2582,0.0493,-0.2666,-0.2487,-0.246,-0.251,-0.2946,-0.3055,-0.2972,-0.2176,-0.106,-0.039,-0.0558,-0.2105,-0.2773,-0.3492,-0.3857,-0.4213,-0.4121,-0.3949,-0.4412,-0.4193,-0.2469,-0.0045,0.1779,0.2819,0.4426,0.5324,0.6147,0.7242,0.6273,0.5935,0.5845,0.438,0.274,0.1429,-0.1097,-0.185,-0.3025,-0.339,-0.3563,-0.322],"stroke":"#07865c","width":1.0,"fill":"rgba(7,134,92,.12)"}],"guides":[{"label":"Neutral","values":[0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0],"stroke":"#8fa0af","width":1.0,"dash":[6,5]}],"dates":["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"]},{"key":"volatility","eyebrow":"Risk 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