{"schema_version":"1.0","name":"TSXD Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"7fda5d4d-6963-4bf1-8f29-c06b1eaff1dc","symbol":"TSXD","name":"DIREXION DAILY SEMICONDUCTORS TOP 5 BEAR 2X ETF","exchange":"NYSEARCA","country":"US","asset_type":"etf","currency":"USD","sector":null,"industry":null},"summary":"Market Dynamics improved this week but remains below zero. Underlying support has strengthened across the recent completed path. Price structure remains downward.","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, Drawdown and recovery pressure, Range position and boundary pressure, Activity pressure and cumulative balance, Directional strength and control, 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":47,"displayedObservations":47,"assetType":"ETF","state":"Aligned downward","stateTone":"negative","summary":"Market Dynamics improved this week but remains below zero. Underlying support has strengthened across the recent completed path. Price structure remains downward.","evidenceAlignment":{"status":"Countertrend conflict","headline":"Improving Market Dynamics is challenging the downward price structure","summary":"Market Dynamics improved this week but remains below zero. Underlying support has strengthened across the recent completed path. Price structure remains downward.","take":"This is an early challenge rather than a confirmed reversal. Price must respond to the improvement before the downward technical state can be considered resolved.","tone":"caution","conflict":true},"marketDynamics":{"available":true,"readAvailable":true,"dates":["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":[0.186975,0.110347,-0.048641,-0.27771,-0.414361,-0.616607,-0.85834,-0.827111,-0.969811,-1.029291,-0.971723,-1.033822,-1.02603,-0.778465,-0.678696,-0.462083,-0.223475,-0.135688,-0.005394],"opens":[13.35,11.91609,10.531998,10.507194,8.314474,8.175569,7.937446,6.69722,6.726985,5.843944,5.070043,5.8,6.38,5.825,6.47,5.78,6.5,5.44,5.12],"highs":[14.45,12.322884,11.405117,10.755239,8.94947,9.316577,7.937446,7.461199,7.483027,6.160351,6.4,6.27,6.64,6.935,6.47,7.4,6.565,5.64,5.91],"lows":[11.92,10.646099,10.457585,8.264865,7.530652,8.006898,6.598002,5.695117,6.211051,5.223831,4.970825,5.1,5.08,5.42,5.395,5.62,5.31,5.01,5.0],"closes":[12.02,10.777861,10.68916,8.273597,8.403671,8.185491,6.769748,7.441355,6.378234,5.225915,5.7966,6.09,5.4439,6.445,5.91,6.0,5.4015,5.216,5.655],"hoverRows":[[{"label":"Open","value":"13.3","className":"is-ohlc","compact":true},{"label":"High","value":"14.4","className":"is-ohlc","compact":true},{"label":"Low","value":"11.9","className":"is-ohlc","compact":true},{"label":"Close","value":"12.0","className":"is-ohlc","compact":true},{"label":"Market 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pressure is repairing","detail":"Market Dynamics remains below zero, but it has improved across the recent completed path. This is an early repair watch until price confirms it.","tone":"caution"},"chartSummary":"Price is between the outer positioning zones. The Market Dynamics bars show whether underlying support is strengthening or weakening.","summary":"Market Dynamics remains below zero, but it has improved across the recent completed path. This is an early repair watch until price confirms it.","annotations":[{"label":"Current tape relationship","value":"Underlying pressure is repairing","detail":"Market Dynamics improved this week but remains below zero.","tone":"caution"},{"label":"Price location","value":"Between zones","detail":"Price is travelling between the two major positioning zones.","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":"Repairing","detail":"Underlying support has strengthened across the recent completed path.","tone":"positive"}],"relationshipEvidence":{"available":false,"observations":19,"summary":"More completed weekly history is needed for a dependable ticker-level record."},"events":{"positioning_recoveries":[],"reversal_warnings":[],"reversal_dangers":[]}},"smTape":{"available":true,"dates":["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":[23.0241,21.7842,19.0438,17.9826,16.7207,19.002,18.465,21.4119,18.2379,17.8497,18.9692,19.0792,17.9345,16.8193,16.8478,15.0188,14.7055,14.8664,15.0629,15.0255,13.8813,15.0256,16.5035,16.1646,16.6948,18.2307,16.7579,13.2076,12.02,10.7779,10.6892,8.2736,8.4037,8.1855,6.7697,7.4414,6.3782,5.2259,5.7966,6.09,5.4439,6.445,5.91,6.0,5.4015,5.216,5.655],"consensus":[-13.8834,100.0,-52.8801,-57.6003,-70.1944,0.0,-21.8951,52.7442,-40.5667,-38.6735,14.5991,-16.9963,-41.081,-49.5725,-27.1222,-68.6994,-53.0687,-22.4493,-24.1397,0.0,-56.3879,11.1368,34.4878,0.0,31.5117,60.3686,-25.0665,-62.9848,-62.498,-66.6035,-42.2048,-78.0649,-32.5294,-48.1185,-70.8191,0.0,-62.8648,-67.7836,-16.1356,-15.6855,-50.5848,13.0824,-28.3897,-17.1224,-39.8909,-31.8253,-0.0994],"supportDates":["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,0.0,-13.8213,41.8689,-59.3976,-41.6681,21.1943,-7.1172,-52.8562,-50.5617,-17.8841,-67.4437,-56.764,-14.4627,-18.481,0.0,-64.7758,5.0392,33.4661,0.0,29.7666,52.3113,-26.2835,-58.5555,-60.5887,-65.5926,-42.0998,-81.2091,-26.4736,-49.8199,-69.3708,0.0,-61.0012,-71.1387,-17.0034,-9.2883,-52.1343,1.1259,-34.4992,-22.4874,-51.1122,-35.1627,-0.0669],"force":[-13.8834,100.0,-52.8801,-57.6003,-29.1749,0.0,-4.1573,83.6546,-42.6055,-19.2091,38.3213,-10.0941,-34.3726,-47.1708,-2.4945,-67.4888,-42.9805,-3.9708,-5.8057,0.0,-62.8255,61.5448,57.9035,0.0,37.5975,90.1419,-72.6184,-93.7234,-78.4486,-79.7337,-19.6364,-92.1618,-0.0341,-28.3677,-81.0987,0.0,-71.4842,-68.312,-33.3367,-20.5842,-54.263,68.1806,-23.0226,-0.7576,-42.1392,-19.1054,-26.907],"direction":[null,null,null,null,-99.494,0.0,-43.792,43.0941,-17.5893,-49.1542,9.8828,-33.2168,-32.4153,-50.1574,-55.2713,-70.9992,-56.0514,-50.4484,-43.7027,0.0,-42.2033,17.9001,18.93,0.0,29.1592,48.3104,-10.29,-46.0906,-53.2867,-58.38,-58.4451,-64.4023,-62.6613,-60.2817,-65.1319,0.0,-58.8378,-63.572,-50.4812,-48.9036,-46.1866,12.609,-25.2411,-22.6802,-25.4607,-37.0968,-19.0117],"intensity":[null,null,null,null,75.0,40.0,33.3333,85.7143,87.5,44.4444,20.0,36.3636,41.6667,23.0769,7.1429,40.0,6.25,17.6471,66.6667,73.6842,30.0,33.3333,45.4545,4.3478,16.6667,40.0,57.6923,100.0,85.7143,51.7241,20.0,61.2903,46.875,3.0303,35.2941,20.0,27.7778,37.8378,7.8947,2.5641,15.0,29.2683,9.5238,30.2326,22.7273,31.1111,4.3478],"confirmation":[27.1094,54.6667,39.5883,41.0988,65.9204,33.948,51.9222,85.9859,80.7565,79.7367,30.0692,50.7123,80.762,83.7749,53.4027,89.966,84.6182,52.6807,52.5855,4.7097,86.1125,9.0116,79.7653,2.6685,78.2958,88.3481,34.3138,89.1594,88.5146,89.7287,80.8193,93.3625,54.8447,82.7701,90.9975,10.2441,88.4078,89.6557,33.4209,31.0695,84.2756,8.7377,76.828,50.232,80.6626,77.7456,12.9051],"persistence":[null,null,33.3333,50.0,60.0,50.0,57.1429,37.5,37.5,62.5,37.5,37.5,37.5,50.0,50.0,75.0,75.0,75.0,100.0,87.5,87.5,62.5,37.5,25.0,0.0,25.0,25.0,12.5,12.5,12.5,37.5,50.0,75.0,100.0,100.0,87.5,87.5,87.5,87.5,87.5,87.5,62.5,62.5,75.0,75.0,75.0,62.5],"assessmentRisk":[null,null,null,null,14.9028,42.9583,7.264,20.9382,51.8994,7.5157,5.7213,34.4466,11.9398,2.4419,29.057,15.0407,21.8173,31.2733,30.7362,2.834,4.4526,3.7312,28.0119,42.396,34.0346,19.6783,24.8775,17.1421,18.6596,16.6965,28.8844,10.8534,33.0308,23.2078,14.2275,25.2048,14.172,15.1895,26.5242,32.9997,14.1255,36.2743,20.2961,3.7383,17.0234,30.9333,16.6142],"volumeParticipation":true,"latest":{"consensus":-0.1,"control":-0.1,"force":-26.9,"direction":-19.0,"confirmation":12.9,"persistence":62.5,"assessmentRisk":16.6,"intensity":4.3,"evidenceDepth":100},"analysis":{"status":"Joint downward confirmation","headline":"The gauges support the downward market view","summary":"Price structure and Market Dynamics agree. Control, force and direction support the same downward assessment.","take":"Current assessment: downward pressure has broad support.","tone":"negative","supportedView":"Price structure and 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":"Broadly stable","directionState":"Downward follow-through","persistenceState":"Developing","confirmationState":"Limited support","riskState":"Contained","intensityState":"Quiet"},"cards":[{"label":"SM Consensus Gauge","value":"-0.1","detail":"Joint downward confirmation","tone":"negative"},{"label":"SM Control Gauge","value":"-0.1","detail":"Control support is limited","tone":"negative"},{"label":"SM Force Gauge","value":"-26.9","detail":"Downward commitment","tone":"negative"},{"label":"SM Direction Gauge","value":"-19.0","detail":"Downward follow-through","tone":"negative"},{"label":"SM Confirmation Gauge","value":"13/100","detail":"Limited support","tone":"caution"}]},"kpis":[{"label":"Price structure","value":"Aligned downward","detail":"completed-week alignment","tone":"negative"},{"label":"Momentum","value":"30.1","detail":"Negative","tone":"negative"},{"label":"Risk pressure","value":"27.8%","detail":"Elevated","tone":"caution"},{"label":"Trend quality","value":"26.3","detail":"Directional","tone":"positive"},{"label":"Range position","value":"4%","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 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