{"schema_version":"1.0","name":"QLDY Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"63a6e0f0-92eb-45b2-95ae-d3121001945b","symbol":"QLDY","name":"DEFIANCE NASDAQ 100 LIGHTNINGSPREAD(TM) INCOME ETF","exchange":"NASDAQ","country":"US","asset_type":"etf","currency":"USD","sector":null,"industry":null},"summary":"Market Dynamics improved this week but 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, Range pressure and compression, Acceleration, deceleration and rollover, Activity pressure and cumulative balance, Drawdown and recovery pressure, Directional strength and control."},{"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":49,"displayedObservations":49,"assetType":"ETF","state":"Rotational","stateTone":"caution","summary":"Market Dynamics improved this week but remains below zero. Underlying support has contracted across the recent completed path. Price structure remains rotational.","evidenceAlignment":{"status":"Negative pressure; price rotational","headline":"Market Dynamics is negative while price has no clear direction","summary":"Market Dynamics improved this week but remains below zero. Underlying support has contracted across the recent completed path. Price structure remains rotational.","take":"The underlying condition is weak, but a negative price response is still required.","tone":"caution","conflict":true},"marketDynamics":{"available":true,"readAvailable":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"],"values":[-0.19527,-0.261562,-0.109201,0.131968,0.396153,0.843459,1.163031,1.400408,1.542495,1.443215,1.370308,1.299557,1.146677,0.958105,0.736017,0.323686,-0.082667,-0.433312,-0.665346,-0.766583,-0.735115],"opens":[35.612667,36.890473,38.585924,41.132181,41.792614,42.868064,45.106587,45.337863,46.282937,46.358496,44.727781,45.320836,45.14273,42.819081,42.884531,43.088192,41.358746,40.650127,39.924204,42.243825,42.396816],"highs":[36.929414,38.916525,41.611873,42.015215,42.906109,45.25033,46.155542,45.972768,47.226955,47.127931,45.439578,45.731281,45.309784,44.289674,43.455787,43.088192,41.832024,40.650127,42.54545,42.754008,42.575412],"lows":[34.803077,36.552974,38.557586,40.726221,41.282717,42.629897,44.474117,44.09682,46.176316,44.129151,42.837671,44.016266,42.461226,42.236573,41.570765,40.219014,39.910326,38.431405,39.924204,41.587138,40.6402],"closes":[36.781938,38.778995,41.515659,41.993985,42.753641,45.189287,45.145468,45.714359,47.017771,44.223889,44.777355,45.330717,42.634419,42.555228,43.455787,40.957908,40.003288,40.07056,42.22722,42.286483,40.9359],"hoverRows":[[{"label":"Open","value":"35.6","className":"is-ohlc","compact":true},{"label":"High","value":"36.9","className":"is-ohlc","compact":true},{"label":"Low","value":"34.8","className":"is-ohlc","compact":true},{"label":"Close","value":"36.8","className":"is-ohlc","compact":true},{"label":"Market 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repairing","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}]],"pressureRange":[-2.3,2.3],"priceRange":[36.167788,47.631921],"zones":{"accumulationBoundary":-1.5,"accumulationDarkBoundary":-2.0,"distributionBoundary":1.5,"distributionDarkBoundary":2.0},"latest":-0.735115,"state":"Negative and weakening","context":{"scenario":"negativeWeakening","latestDirection":"slight strengthening","fourWeekDirection":"weakening","now":{"label":"Slightly 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":"24 Apr 2026","detail":"The green dot marks a confirmed recovery where institutional positioning is most plausible.","tone":"neutral"},{"label":"Market Dynamics confirmation","value":"Weakening","detail":"Underlying support has contracted across the recent completed path.","tone":"negative"}],"relationshipEvidence":{"available":false,"observations":21,"summary":"More completed weekly history is needed for a dependable ticker-level record."},"events":{"positioning_recoveries":[{"date":"2026-04-24","price":41.993985}],"reversal_warnings":[{"date":"2026-05-08","price":45.189287},{"date":"2026-07-10","price":43.455787}],"reversal_dangers":[{"date":"2026-06-05","price":44.223889},{"date":"2026-07-17","price":40.957908}]}},"smTape":{"available":true,"dates":["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":[40.2264,39.9972,40.6079,39.3781,39.9395,40.9363,41.9982,40.3728,40.2322,38.7234,41.0657,41.7092,40.6279,40.7755,41.4518,40.2967,41.2762,40.817,40.5435,40.4861,39.4343,38.7064,39.1297,38.895,38.4176,37.754,36.8128,35.3741,36.7819,38.779,41.5157,41.994,42.7536,45.1893,45.1455,45.7144,47.0178,44.2239,44.7774,45.3307,42.6344,42.5552,43.4558,40.9579,40.0033,40.0706,42.2272,42.2865,40.9359],"consensus":[0.0,-13.8027,20.5007,-57.7347,-9.546,48.7278,53.4576,-27.6807,-11.7903,-64.3156,37.1766,51.1299,-21.4255,20.7487,36.2189,-42.142,39.3675,-10.1511,0.0,-8.9259,-43.8573,-47.155,0.0,-31.9831,-35.171,-44.9356,-59.3319,-70.8705,0.0,38.8672,63.923,54.9327,58.7516,81.8545,37.503,59.198,69.2951,-24.1755,31.0774,34.6057,-50.6886,-20.4375,18.3482,-58.8685,-54.4504,-26.0558,24.4665,0.0,-33.0341],"supportDates":["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,null,50.447,52.8614,-37.0022,-16.5114,-50.3624,50.2309,48.1883,-29.7529,11.6571,40.9118,-37.0788,44.7223,-11.3071,0.0,-13.0373,-35.4329,-46.4332,0.0,-28.2864,-34.2671,-46.5128,-61.2283,-75.1916,0.0,41.6204,67.585,61.2679,62.6578,84.1419,29.5857,58.0034,67.1189,-24.7363,30.1985,37.8913,-44.3752,-17.6478,26.5415,-52.4658,-56.9316,-18.0598,34.3528,0.0,-41.511],"force":[0.0,-13.8027,20.5007,-57.7347,-8.3945,44.0993,33.3591,-73.1444,-19.3642,-87.362,58.0507,53.0319,-53.282,20.7118,35.3972,-63.9359,52.8967,-26.9028,0.0,-10.9738,-59.3963,-43.6665,0.0,-22.1734,-24.9294,-39.0806,-57.0109,-71.9569,0.0,66.1415,71.0671,39.8057,47.5775,95.106,6.2457,46.8993,68.7945,-89.5048,34.4423,34.7106,-93.8601,-20.7152,41.5499,-84.1454,-53.4192,-5.2018,63.0132,0.0,-48.1305],"direction":[null,null,null,null,-22.3606,50.0691,68.4949,-15.4465,-0.9848,-63.8005,7.3473,53.1331,-10.8463,31.1654,31.4425,-32.3615,23.584,-3.1356,0.0,-2.7643,-42.3858,-50.4717,0.0,-43.2148,-43.5195,-47.3151,-58.8224,-65.156,0.0,16.2391,54.6349,58.4975,62.269,69.7748,68.8781,69.348,72.1397,-23.1293,29.6782,30.7759,-27.0671,-23.4272,7.5881,-48.1311,-52.3512,-50.0899,14.3656,0.0,-12.5632],"intensity":[null,null,null,null,75.0,80.0,100.0,100.0,37.5,77.7778,100.0,63.6364,50.0,38.4615,64.2857,53.3333,37.5,11.7647,27.7778,36.8421,95.0,19.0476,27.2727,8.6957,16.6667,24.0,61.5385,81.4815,78.5714,96.5517,100.0,93.5484,34.375,96.9697,82.3529,14.2857,88.8889,100.0,73.6842,53.8462,95.0,43.9024,30.9524,93.0233,61.3636,66.6667,84.7826,70.2128,58.3333],"confirmation":[0.9796,27.0835,29.2269,41.1418,4.9208,83.4256,84.503,36.0633,49.2651,89.496,57.6671,84.4644,32.6807,74.777,79.4935,82.2268,80.9283,49.7435,25.385,48.1894,82.6363,82.9943,7.1382,77.992,78.9564,82.1769,86.8866,90.6458,34.9683,81.2268,88.6173,85.0209,86.4005,94.5624,56.5023,86.5867,90.1923,37.3195,78.0607,79.027,85.6323,74.591,53.4058,87.7058,85.3549,53.1575,34.5847,47.9546,78.9018],"persistence":[null,null,0.0,25.0,40.0,16.6667,0.0,12.5,25.0,25.0,25.0,0.0,0.0,0.0,0.0,0.0,25.0,25.0,12.5,12.5,12.5,37.5,50.0,50.0,75.0,75.0,87.5,87.5,75.0,50.0,37.5,12.5,12.5,37.5,62.5,87.5,100.0,75.0,75.0,75.0,50.0,25.0,25.0,0.0,25.0,25.0,25.0,37.5,37.5],"assessmentRisk":[null,null,null,null,13.541,17.0704,20.2558,51.7893,21.0135,16.6421,50.8871,15.2203,27.0345,37.1077,1.6829,20.7381,6.0078,6.8867,31.4535,13.2202,25.4617,24.7719,41.6616,33.0381,28.2145,23.1465,20.2657,14.5633,49.358,20.6027,17.9968,22.5319,20.6186,9.0675,30.9248,20.1203,15.2351,15.7073,27.5203,30.2777,24.2203,28.7051,43.8521,20.2045,19.4181,33.1105,45.8047,31.3578,43.8317],"volumeParticipation":true,"latest":{"consensus":-33.0,"control":-41.5,"force":-48.1,"direction":-12.6,"confirmation":78.9,"persistence":37.5,"assessmentRisk":43.8,"intensity":58.3,"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":"Seller control supports the view","controlPath":"Control support is easing","forceState":"Downward commitment","forcePath":"Broadly stable","directionState":"Downward follow-through","persistenceState":"Unsettled","confirmationState":"Strong support","riskState":"Present","intensityState":"Normal"},"cards":[{"label":"SM Consensus Gauge","value":"-33.0","detail":"Market Dynamics has stronger support","tone":"negative"},{"label":"SM Control Gauge","value":"-41.5","detail":"Seller control supports the view","tone":"negative"},{"label":"SM Force Gauge","value":"-48.1","detail":"Downward commitment","tone":"negative"},{"label":"SM Direction Gauge","value":"-12.6","detail":"Downward follow-through","tone":"negative"},{"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":"46.6","detail":"Negative","tone":"negative"},{"label":"Risk pressure","value":"4.9%","detail":"Elevated","tone":"caution"},{"label":"Trend quality","value":"19.5","detail":"Range-led","tone":"neutral"},{"label":"Range position","value":"49%","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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direction.","series":[{"label":"Impulse","values":[null,null,null,null,null,null,null,null,null,null,null,null,0.1358,0.1443,0.2033,0.1551,0.1936,0.185,0.1543,0.124,0.0148,-0.1289,-0.2063,-0.2832,-0.3784,-0.5016,-0.6675,-0.9046,-0.9678,-0.8469,-0.5243,-0.2274,0.0684,0.4937,0.8178,1.1078,1.4263,1.4367,1.4727,1.5282,1.3392,1.1696,1.0952,0.8251,0.528,0.2946,0.2803,0.2707,0.1524],"stroke":"#1678a7","width":2.0},{"label":"Signal","values":[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,0.16,0.165,0.1628,0.1551,0.127,0.0758,0.0194,-0.0411,-0.1086,-0.1872,-0.2832,-0.4075,-0.5196,-0.585,-0.5729,-0.5038,-0.3893,-0.2127,-0.0066,0.2163,0.4583,0.654,0.8177,0.9598,1.0357,1.0625,1.069,1.0202,0.9218,0.7963,0.6931,0.6087,0.5174],"stroke":"#b87806","width":1.7},{"label":"Expansion","values":[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,0.0337,0.02,-0.0085,-0.0311,-0.1122,-0.2047,-0.2257,-0.2421,-0.2698,-0.3144,-0.3842,-0.4971,-0.4482,-0.2619,0.0486,0.2764,0.4578,0.7065,0.8244,0.8915,0.968,0.7828,0.655,0.5684,0.3035,0.1071,0.0262,-0.1951,-0.3938,-0.5018,-0.4128,-0.3379,-0.365],"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],"stroke":"#8fa0af","width":1.0,"dash":[6,5]}],"dates":["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":"participation","eyebrow":"Participation","title":"Activity 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Market Dynamics construction and private inputs are not disclosed. Historical research is not a forecast or instruction to trade."}