{"schema_version":"1.0","name":"UCOP Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"685f7c2b-fe20-4609-86aa-889e0fcfac46","symbol":"UCOP","name":"PROSHARES ULTRA COPPER K-1 FREE ETF","exchange":"NYSEARCA","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, Acceleration, deceleration and rollover, Activity pressure and cumulative balance, Range pressure and compression."},{"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":18,"displayedObservations":18,"assetType":"ETF","state":"Aligned upward","stateTone":"positive","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":["2026-04-24","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],"opens":[40.022216,39.568957,36.567569,44.600329,41.84988,43.257858,44.046724,41.91978,43.956853,42.359149,38.53,39.6551,39.7888,40.66,41.1141,42.57,43.795,43.54],"highs":[41.330327,39.568957,42.179407,47.611603,43.127445,43.427614,46.982407,43.863587,44.05671,42.359149,39.58,39.8896,41.7401,42.889,42.7141,45.59,44.1,43.54],"lows":[39.223369,37.502226,36.567569,41.280698,40.042477,42.128979,40.936393,40.102391,41.907098,36.49,38.4324,37.9826,38.73,40.16,39.75,42.57,43.0327,41.4],"closes":[39.687898,37.97295,41.984687,41.694503,43.127445,42.907261,40.936393,43.863587,42.361945,38.8701,38.4806,39.7984,39.6147,40.3042,42.7141,43.2201,43.05,43.0333],"hoverRows":[[{"label":"Open","value":"40.0","className":"is-ohlc","compact":true},{"label":"High","value":"41.3","className":"is-ohlc","compact":true},{"label":"Low","value":"39.2","className":"is-ohlc","compact":true},{"label":"Close","value":"39.7","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}],[{"label":"Open","value":"40.7","className":"is-ohlc","compact":true},{"label":"High","value":"42.9","className":"is-ohlc","compact":true},{"label":"Low","value":"40.2","className":"is-ohlc","compact":true},{"label":"Close","value":"40.3","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"Unavailable","note":"Insufficient completed history","className":"is-muted","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"41.1","className":"is-ohlc","compact":true},{"label":"High","value":"42.7","className":"is-ohlc","compact":true},{"label":"Low","value":"39.8","className":"is-ohlc","compact":true},{"label":"Close","value":"42.7","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"Unavailable","note":"Insufficient completed history","className":"is-muted","wide":true},{"label":"Signal / event","value":"Reversal warning","className":"is-caution","wide":true}],[{"label":"Open","value":"42.6","className":"is-ohlc","compact":true},{"label":"High","value":"45.6","className":"is-ohlc","compact":true},{"label":"Low","value":"42.6","className":"is-ohlc","compact":true},{"label":"Close","value":"43.2","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"Unavailable","note":"Insufficient completed history","className":"is-muted","wide":true},{"label":"Signal / event","value":"Reversal danger","className":"is-negative","wide":true}],[{"label":"Open","value":"43.8","className":"is-ohlc","compact":true},{"label":"High","value":"44.1","className":"is-ohlc","compact":true},{"label":"Low","value":"43.0","className":"is-ohlc","compact":true},{"label":"Close","value":"43.0","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"Unavailable","note":"Insufficient completed history","className":"is-muted","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"43.5","className":"is-ohlc","compact":true},{"label":"High","value":"43.5","className":"is-ohlc","compact":true},{"label":"Low","value":"41.4","className":"is-ohlc","compact":true},{"label":"Close","value":"43.0","className":"is-ohlc","compact":true},{"label":"Market 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":[37.619512,44.217025],"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":18,"summary":"More completed weekly history is needed for a dependable ticker-level record."},"events":{"positioning_recoveries":[],"reversal_warnings":[{"date":"2026-05-08","price":41.984687},{"date":"2026-07-31","price":42.7141}],"reversal_dangers":[{"date":"2026-05-15","price":41.694503},{"date":"2026-08-07","price":43.2201}]}},"smTape":{"available":true,"dates":["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":[39.6879,37.9729,41.9847,41.6945,43.1274,42.9073,40.9364,43.8636,42.3619,38.8701,38.4806,39.7984,39.6147,40.3042,42.7141,43.2201,43.05,43.0333],"consensus":[-55.9052,-54.4475,93.0604,-50.4179,61.9585,30.2757,-24.7746,52.8665,-15.1203,-55.2612,-38.859,0.0,-20.7131,0.0,51.9702,27.4606,9.2786,22.2414],"supportDates":["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,20.9981,-29.8232,52.7602,-15.4123,-41.1872,-40.3427,0.0,-13.5303,0.0,48.4974,16.3015,5.0637,18.3851],"force":[-55.9052,-54.4475,93.0604,-50.4179,37.5203,8.5408,-39.7308,56.7006,-45.9488,-82.5534,-23.3845,0.0,-15.4349,0.0,58.3989,12.3563,8.3188,11.2042],"direction":[null,null,null,null,79.4144,56.4037,-8.3218,50.2494,-7.2339,-51.8513,-48.2167,0.0,-32.6921,0.0,51.3471,51.0027,38.2393,34.5325],"intensity":[null,null,null,null,75.0,40.0,50.0,42.8571,25.0,88.8889,40.0,9.0909,33.3333,15.3846,50.0,60.0,18.75,23.5294],"confirmation":[40.5563,40.0899,52.446,38.8004,64.0429,77.1672,76.3068,85.0358,52.6501,86.7298,79.9407,33.1925,74.5768,24.8007,84.8793,76.4971,5.5063,55.0],"persistence":[null,null,33.3333,50.0,20.0,0.0,14.2857,0.0,0.0,0.0,25.0,12.5,37.5,50.0,25.0,25.0,0.0,25.0],"assessmentRisk":[null,null,null,null,15.1922,34.2208,11.3101,12.216,9.9553,19.4227,20.9389,50.5112,33.2903,30.3478,22.6051,34.5285,43.6539,35.3421],"volumeParticipation":true,"latest":{"consensus":22.2,"control":18.4,"force":11.2,"direction":34.5,"confirmation":55.0,"persistence":25.0,"assessmentRisk":35.3,"intensity":23.5,"evidenceDepth":69},"analysis":{"status":"Price structure has the available support","headline":"The gauges support the price-technical view","summary":"Market Dynamics does not provide a directional confirmation. The completed evidence supports the upward price structure.","take":"Current assessment: follow price structure with limited confirmation.","tone":"positive","supportedView":"Price structure","direction":"upward","disagreement":false},"support":{"window":"Latest 12 months","controlState":"Buyer control supports the view","controlPath":"Control support is strengthening","forceState":"Commitment is limited","forcePath":"Commitment is strengthening","directionState":"Upward follow-through","persistenceState":"Unsettled","confirmationState":"Qualified support","riskState":"Contained","intensityState":"Quiet"},"cards":[{"label":"SM Consensus Gauge","value":"+22.2","detail":"Price structure has the available support","tone":"positive"},{"label":"SM Control Gauge","value":"+18.4","detail":"Buyer control supports the view","tone":"positive"},{"label":"SM Force Gauge","value":"+11.2","detail":"Commitment is limited","tone":"positive"},{"label":"SM Direction Gauge","value":"+34.5","detail":"Upward follow-through","tone":"positive"},{"label":"SM Confirmation Gauge","value":"55/100","detail":"Qualified support","tone":"neutral"}]},"kpis":[{"label":"Price structure","value":"Aligned upward","detail":"completed-week alignment","tone":"positive"},{"label":"Momentum","value":"37.5","detail":"Negative","tone":"negative"},{"label":"Risk pressure","value":"6.3%","detail":"Contained","tone":"neutral"},{"label":"Trend quality","value":"-","detail":"Developing","tone":"neutral"},{"label":"Range position","value":"59%","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 upward.","series":[{"label":"Close","values":[39.6879,37.9729,41.9847,41.6945,43.1274,42.9073,40.9364,43.8636,42.3619,38.8701,38.4806,39.7984,39.6147,40.3042,42.7141,43.2201,43.05,43.0333],"stroke":"#10243b","width":2.1},{"label":"Fast trend","values":[null,null,null,null,40.7205,41.1181,41.0851,41.5903,41.7306,41.2105,40.7141,40.5476,40.378,40.3646,40.7918,41.2333,41.5636,41.8308],"stroke":"#176fa3","width":1.7},{"label":"Slow trend","values":[null,null,null,null,null,null,null,null,null,null,null,null,40.3552,40.3514,40.5264,40.7259,40.8981,41.0562],"stroke":"#07865c","width":1.8},{"label":"Upper envelope","values":[null,null,null,null,null,null,null,null,null,45.025,44.9594,44.7544,44.5731,44.4098,44.5396,44.7365,44.8605,44.9558],"stroke":"#98a9b8","width":1.0,"dash":[6,5]},{"label":"Lower envelope","values":[null,null,null,null,null,null,null,null,null,37.6564,37.202,37.1932,37.1655,37.248,37.3695,37.4558,37.5617,37.6688],"stroke":"#98a9b8","width":1.0,"dash":[6,5]}],"guides":[],"dates":["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":"returns","eyebrow":"Observed return path","title":"Completed returns and cumulative progression","description":"Period returns are shown beside the total move recorded across the available tape.","reason":"Selected because direct returns remain fully observable while longer indicators develop.","series":[{"label":"Period return","values":[null,-4.3211,10.5647,-0.6912,3.4368,-0.5105,-4.5933,7.1506,-3.4234,-8.2429,-1.0021,3.4246,-0.4616,1.7405,5.9793,1.1846,-0.3936,-0.0388],"stroke":"#176fa3","width":1.7},{"label":"Cumulative 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range","values":[5.3088,5.4426,13.3664,15.184,7.1531,3.0266,14.7693,8.5748,5.0744,15.0994,2.9823,4.7916,7.5984,6.771,6.9394,6.9875,2.4792,4.9729],"stroke":"#b87806","width":1.8},{"label":"Open-to-close direction","values":[-0.8353,-4.0335,14.814,-6.5153,3.0527,-0.8105,-7.0614,4.637,-3.6283,-8.2368,-0.1282,0.3614,-0.4376,-0.8751,3.8916,1.5271,-1.7011,-1.1638],"stroke":"#176fa3","width":1.8}],"guides":[{"label":"Unchanged close","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],"stroke":"#8fa0af","width":1.0,"dash":[6,5]}],"dates":["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":"impulse","eyebrow":"Price impulse","title":"Acceleration, deceleration and rollover","description":"The impulse path separates directional acceleration from a loss of 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