{"schema_version":"1.0","name":"MARY Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"74e34183-a5f7-4327-89b5-6c53fc26b7c1","symbol":"MARY","name":"IncomeShares Mara (MARA) Options ETP","exchange":"LSE","country":"GB","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, Activity pressure and cumulative balance, Drawdown and recovery pressure, Acceleration, deceleration and rollover."},{"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":21,"displayedObservations":21,"assetType":"ETF","state":"Rotational","stateTone":"caution","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":["2026-04-03","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":[0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0],"opens":[7.569105,7.969395,8.146308,9.49917,9.192248,9.676098,10.57718,12.205,11.966697,12.13945,12.236751,11.954114,12.449886,11.195,11.5175,9.675,10.645,11.405,10.12,9.0,8.2425],"highs":[7.588512,8.41688,9.832182,10.140218,9.63778,10.471913,10.871925,13.645,12.025646,12.429036,12.236751,11.954114,12.449886,11.195,11.5175,9.715,11.4775,11.405,10.245,9.0,9.3175],"lows":[7.173704,7.969395,8.096357,9.49917,8.374474,9.591885,9.730837,11.62,11.591949,10.596536,12.236751,11.954114,12.449886,11.1925,11.5175,9.675,10.645,9.2425,9.0025,7.9075,7.9125],"closes":[7.536479,8.389823,9.780149,9.703139,9.63778,10.052952,10.151902,13.6875,11.815113,10.596536,12.236751,11.954114,12.449886,11.1925,11.5175,9.715,11.3475,10.53,9.0025,7.9075,9.24],"hoverRows":[[{"label":"Open","value":"7.57","className":"is-ohlc","compact":true},{"label":"High","value":"7.59","className":"is-ohlc","compact":true},{"label":"Low","value":"7.17","className":"is-ohlc","compact":true},{"label":"Close","value":"7.54","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}]],"pressureRange":[-2.3,2.3],"priceRange":[7.167418,14.056561],"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":21,"summary":"More completed weekly history is needed for a dependable ticker-level record."},"events":{"positioning_recoveries":[],"reversal_warnings":[{"date":"2026-05-22","price":13.6875}],"reversal_dangers":[{"date":"2026-05-29","price":11.815113}]}},"smTape":{"available":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"],"close":[7.5365,8.3898,9.7801,9.7031,9.6378,10.053,10.1519,13.6875,11.8151,10.5965,12.2368,11.9541,12.4499,11.1925,11.5175,9.715,11.3475,10.53,9.0025,7.9075,9.24],"consensus":[74.9122,87.9071,94.0048,-21.0911,68.9283,56.5126,30.5025,93.5658,17.2162,-17.2783,56.2839,11.3634,43.6943,-10.0164,13.3402,-47.2279,33.6623,-25.6282,-71.6885,-72.4973,9.0252],"supportDates":["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,53.9185,23.013,94.2843,11.0581,-26.9252,52.737,23.8389,42.2924,-30.4289,24.7031,-24.5917,48.0728,-23.7613,-69.9564,-77.3794,21.67],"force":[74.9122,87.9071,94.0048,-21.0911,28.3884,31.2639,2.3352,99.1198,54.8348,-79.5275,37.8581,18.1619,20.3904,-32.0204,3.3998,-60.9019,65.0922,-31.0663,-93.172,-75.3593,69.926],"direction":[null,null,null,null,97.8854,77.5121,62.5176,88.7776,75.719,-38.2103,73.4989,18.1952,61.9421,-29.0293,7.4544,-63.3307,5.2568,-23.8773,-58.3226,-64.8735,48.9265],"intensity":[null,null,null,null,50.0,60.0,16.6667,100.0,87.5,55.5556,80.0,9.0909,25.0,61.5385,14.2857,86.6667,81.25,58.8235,72.2222,47.3684,55.0],"confirmation":[46.6386,50.7969,52.7482,29.4158,65.5371,85.3541,54.7057,98.0994,37.7719,38.0974,85.5034,29.0876,81.2933,32.4244,26.4594,83.8746,57.965,76.3952,91.6214,91.212,37.6557],"persistence":[null,null,100.0,50.0,60.0,66.6667,71.4286,75.0,75.0,50.0,50.0,75.0,75.0,50.0,50.0,25.0,25.0,25.0,0.0,25.0,25.0],"assessmentRisk":[null,null,null,null,15.4145,21.4765,14.8286,3.0922,36.7639,26.3894,16.5899,48.018,0.3008,25.6659,31.0993,22.4281,48.5884,8.0483,10.4428,4.6966,51.2611],"volumeParticipation":true,"latest":{"consensus":9.0,"control":21.7,"force":69.9,"direction":48.9,"confirmation":37.7,"persistence":25.0,"assessmentRisk":51.3,"intensity":55.0,"evidenceDepth":81},"analysis":{"status":"Completed tape 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":"Completed tape","direction":"upward","disagreement":false},"support":{"window":"Latest 12 months","controlState":"Buyer control supports the view","controlPath":"Control support is easing","forceState":"Upward commitment","forcePath":"Broadly stable","directionState":"Upward follow-through","persistenceState":"Unsettled","confirmationState":"Limited support","riskState":"Present","intensityState":"Normal"},"cards":[{"label":"SM Consensus Gauge","value":"+9.0","detail":"Completed tape has stronger support","tone":"positive"},{"label":"SM Control Gauge","value":"+21.7","detail":"Buyer control supports the view","tone":"positive"},{"label":"SM Force Gauge","value":"+69.9","detail":"Upward commitment","tone":"positive"},{"label":"SM Direction Gauge","value":"+48.9","detail":"Upward follow-through","tone":"positive"},{"label":"SM Confirmation Gauge","value":"38/100","detail":"Limited support","tone":"caution"}]},"kpis":[{"label":"Price structure","value":"Rotational","detail":"completed-week alignment","tone":"caution"},{"label":"Momentum","value":"57.1","detail":"Positive","tone":"positive"},{"label":"Risk pressure","value":"12.8%","detail":"Elevated","tone":"caution"},{"label":"Trend quality","value":"-","detail":"Developing","tone":"neutral"},{"label":"Range position","value":"32%","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 is rotating 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