{"schema_version":"1.0","name":"RHM3 Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"86772c63-0b54-45c8-8716-b0712417490b","symbol":"RHM3","name":"Leverage Shares 3x Long Rheinmetall (RHM) ETP Securities","exchange":"LSE","country":"GB","asset_type":"etf","currency":"USD","sector":null,"industry":null},"summary":"Market Dynamics weakened this week and remains below zero. The broader path remains constructive, so one softer week does not by itself establish weakening confirmation. Price remains elevated in the distribution zone.","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, Acceleration, deceleration and rollover, Activity pressure and cumulative balance, Directional pressure and rotation."},{"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":42,"displayedObservations":42,"assetType":"ETF","state":"Aligned upward","stateTone":"positive","summary":"Market Dynamics weakened this week and remains below zero. The broader path remains constructive, so one softer week does not by itself establish weakening confirmation. Price remains elevated in the distribution zone.","evidenceAlignment":{"status":"Material conflict","headline":"Upward price structure is not confirmed by Market Dynamics","summary":"Market Dynamics weakened this week and remains below zero. The broader path remains constructive, so one softer week does not by itself establish weakening confirmation. Price remains elevated in the distribution zone.","take":"The divergence must narrow through either a recovery in Market Dynamics or weaker price. In this configuration, price reversal is the principal risk, so the upward alignment should be treated as vulnerable rather than confirmed.","tone":"negative","conflict":true},"marketDynamics":{"available":true,"readAvailable":true,"dates":["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":[-0.755067,-1.04449,-1.101453,-1.104463,-1.088797,-1.001397,-0.784054,-0.788869,-0.758563,-0.571103,-0.437091,-0.214111,-0.054749,-0.058068],"opens":[3.022,3.812,3.33,3.367,3.288,1.414,2.18,1.558,1.422,1.494,1.766,2.369,2.156,2.643],"highs":[3.841,4.362,3.417,3.367,3.425,1.414,2.18,1.558,1.481,1.755,2.449,2.799,2.623,36.240002],"lows":[3.022,3.7,3.33,3.198,3.214,1.304,2.046,1.4815,1.422,1.444,1.72,2.176,2.156,2.4655],"closes":[3.6835,4.306,3.4135,3.359,3.251,1.358,2.0565,1.4815,1.481,1.69,2.2555,2.214,2.571,34.375],"hoverRows":[[{"label":"Open","value":"3.02","className":"is-ohlc","compact":true},{"label":"High","value":"3.84","className":"is-ohlc","compact":true},{"label":"Low","value":"3.02","className":"is-ohlc","compact":true},{"label":"Close","value":"3.68","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.76","note":"Cautious and weakening","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"3.81","className":"is-ohlc","compact":true},{"label":"High","value":"4.36","className":"is-ohlc","compact":true},{"label":"Low","value":"3.70","className":"is-ohlc","compact":true},{"label":"Close","value":"4.31","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-1.04","note":"Cautious and weakening","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"3.33","className":"is-ohlc","compact":true},{"label":"High","value":"3.42","className":"is-ohlc","compact":true},{"label":"Low","value":"3.33","className":"is-ohlc","compact":true},{"label":"Close","value":"3.41","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-1.10","note":"Cautious and weakening","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"3.37","className":"is-ohlc","compact":true},{"label":"High","value":"3.37","className":"is-ohlc","compact":true},{"label":"Low","value":"3.20","className":"is-ohlc","compact":true},{"label":"Close","value":"3.36","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-1.10","note":"Cautious and weakening","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"3.29","className":"is-ohlc","compact":true},{"label":"High","value":"3.42","className":"is-ohlc","compact":true},{"label":"Low","value":"3.21","className":"is-ohlc","compact":true},{"label":"Close","value":"3.25","className":"is-ohlc","compact":true},{"label":"Market 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Dynamics","value":"-0.78","note":"Cautious but repairing","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"1.56","className":"is-ohlc","compact":true},{"label":"High","value":"1.56","className":"is-ohlc","compact":true},{"label":"Low","value":"1.48","className":"is-ohlc","compact":true},{"label":"Close","value":"1.48","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.79","note":"Cautious and weakening","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"1.42","className":"is-ohlc","compact":true},{"label":"High","value":"1.48","className":"is-ohlc","compact":true},{"label":"Low","value":"1.42","className":"is-ohlc","compact":true},{"label":"Close","value":"1.48","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.76","note":"Cautious but repairing","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"1.49","className":"is-ohlc","compact":true},{"label":"High","value":"1.75","className":"is-ohlc","compact":true},{"label":"Low","value":"1.44","className":"is-ohlc","compact":true},{"label":"Close","value":"1.69","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.57","note":"Cautious but repairing","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"1.77","className":"is-ohlc","compact":true},{"label":"High","value":"2.45","className":"is-ohlc","compact":true},{"label":"Low","value":"1.72","className":"is-ohlc","compact":true},{"label":"Close","value":"2.26","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.44","note":"Cautious but repairing","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"2.37","className":"is-ohlc","compact":true},{"label":"High","value":"2.80","className":"is-ohlc","compact":true},{"label":"Low","value":"2.18","className":"is-ohlc","compact":true},{"label":"Close","value":"2.21","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.21","note":"Cautious but repairing","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"2.16","className":"is-ohlc","compact":true},{"label":"High","value":"2.62","className":"is-ohlc","compact":true},{"label":"Low","value":"2.16","className":"is-ohlc","compact":true},{"label":"Close","value":"2.57","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.05","note":"Cautious but repairing","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"2.64","className":"is-ohlc","compact":true},{"label":"High","value":"36.2","className":"is-ohlc","compact":true},{"label":"Low","value":"2.47","className":"is-ohlc","compact":true},{"label":"Close","value":"34.4","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.06","note":"Cautious and weakening","className":"is-negative","wide":true},{"label":"Signal / event","value":"Reversal warning","className":"is-caution","wide":true}]],"pressureRange":[-2.3,2.3],"priceRange":[-0.62302,36.35602],"zones":{"accumulationBoundary":-1.5,"accumulationDarkBoundary":-2.0,"distributionBoundary":1.5,"distributionDarkBoundary":2.0},"latest":-0.058068,"state":"Price ahead of Market Dynamics","context":{"scenario":"priceAhead","latestDirection":"slight easing","fourWeekDirection":"strengthening","now":{"label":"Slightly easier this week","detail":"Market Dynamics weakened this week and remains below zero."},"fourWeek":{"label":"Strengthened over four weeks","detail":"The broader path remains constructive, so one softer week does not by itself establish weakening confirmation."},"price":{"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."}},"diagnosis":{"label":"Unsupported elevation","detail":"Price is in distribution and ahead of Market Dynamics. The advance is not fully confirmed while that gap remains open.","tone":"negative"},"chartSummary":"Price is in the distribution zone. The Market Dynamics bars show whether underlying support is keeping pace with that elevated price.","summary":"Price is in distribution and ahead of Market Dynamics. The advance is not fully confirmed while that gap remains open.","annotations":[{"label":"Current tape relationship","value":"Unsupported elevation","detail":"Market Dynamics weakened this week and remains below zero.","tone":"negative"},{"label":"Price location","value":"Distribution zone","detail":"Price is extended; support can persist, but rollover risk must be monitored.","tone":"caution"},{"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":"Not confirming","detail":"Market Dynamics has strengthened over four weeks, but it still lags the elevated price.","tone":"negative"}],"relationshipEvidence":{"available":false,"observations":14,"summary":"More completed weekly history is needed for a dependable ticker-level record."},"events":{"positioning_recoveries":[],"reversal_warnings":[{"date":"2026-08-21","price":34.375}],"reversal_dangers":[]}},"smTape":{"available":true,"dates":["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":[16.5675,15.735,10.215,9.565,10.45,12.1725,10.855,13.8875,11.4025,18.05,18.55,16.725,15.205,10.54,10.675,13.5875,11.655,9.7875,9.3025,8.195,5.7588,8.415,6.83,7.3275,4.902,6.995,3.612,2.83,3.6835,4.306,3.4135,3.359,3.251,1.358,2.0565,1.4815,1.481,1.69,2.2555,2.214,2.571,34.375],"consensus":[24.9376,-28.6331,-100.0,-13.1381,-48.0772,-13.9962,-26.1364,42.7476,-10.4175,74.4817,38.2301,0.0,0.0,-68.8848,-41.9238,14.4419,-44.7897,-48.8433,-32.7851,-52.2085,-72.0218,0.0,-52.9761,-24.5993,-64.5892,14.4797,-71.667,-58.342,0.0,-12.1088,-23.5549,-8.9631,-31.3058,-56.3279,-26.0695,-49.32,-18.148,0.0,8.5218,-17.1752,16.952,-74.9489],"supportDates":["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,-2.9989,-33.6176,41.2448,-10.8219,66.7564,25.7741,0.0,0.0,-58.1946,-38.2779,33.4168,-48.4527,-53.5253,-32.2088,-52.7735,-72.3622,0.0,-55.5916,-30.4045,-71.001,20.8641,-73.8523,-59.4131,0.0,-1.7297,-14.8174,-7.1353,-40.7046,-49.103,-39.0428,-58.6297,-6.0872,0.0,3.0104,-32.5953,14.2103,-67.2062],"force":[24.9376,-28.6331,-100.0,-13.1381,-16.3496,-11.6524,-8.4116,59.1694,-0.8851,94.3813,14.8624,0.0,0.0,-90.8574,-18.9948,36.1777,-48.8265,-58.592,-22.5372,-48.2453,-86.2106,0.0,-55.0785,-0.0964,-81.5954,71.7845,-90.3056,-54.8609,0.0,-12.6349,-22.155,-12.0877,-12.6017,-68.5211,-20.5402,-34.3093,-3.8556,0.0,49.1581,-9.5511,32.8258,-73.136],"direction":[null,null,null,null,-94.0964,-51.7397,-30.247,32.7352,-18.0285,69.0967,69.1569,0.0,0.0,-65.4074,-62.4685,22.7692,-37.7199,-36.5292,-40.7637,-54.3936,-61.4978,0.0,-48.4852,-35.6048,-45.1141,33.7488,-55.8561,-59.6044,0.0,-45.5984,-34.5405,-26.0883,-33.9244,-55.8755,-44.5357,-49.4022,-47.6487,0.0,14.2055,-4.9981,8.7471,-85.0925],"intensity":[null,null,null,null,50.0,60.0,50.0,71.4286,50.0,100.0,70.0,45.4545,58.3333,76.9231,57.1429,40.0,25.0,29.4118,16.6667,21.0526,40.0,47.619,27.2727,17.3913,41.6667,36.0,84.6154,55.5556,7.1429,3.4483,20.0,3.2258,3.125,42.4242,11.7647,8.5714,2.7778,10.8108,18.4211,12.8205,12.5,100.0],"confirmation":[30.6467,31.8293,54.6667,26.8709,17.6714,7.0817,75.7095,82.2026,48.5051,92.5583,79.7113,32.0288,30.0983,90.8757,80.7724,32.5188,82.3999,83.8556,78.1877,84.5773,91.4742,32.9141,84.9766,52.3846,89.0891,36.1491,91.4682,86.547,9.7024,6.396,75.628,4.8332,77.3046,86.5066,33.7727,83.1831,28.8098,28.7531,7.0799,50.3621,73.9502,44.64],"persistence":[null,null,33.3333,50.0,60.0,66.6667,71.4286,50.0,75.0,50.0,25.0,12.5,0.0,0.0,0.0,0.0,0.0,25.0,50.0,62.5,75.0,62.5,62.5,87.5,87.5,62.5,62.5,62.5,50.0,62.5,62.5,62.5,62.5,87.5,87.5,87.5,100.0,87.5,62.5,62.5,37.5,12.5],"assessmentRisk":[null,null,null,null,25.3559,37.4812,26.6547,25.3982,23.5367,10.0785,30.1847,35.3125,45.3586,14.8281,28.4608,47.721,20.0405,11.6343,6.104,21.7411,12.7,25.0072,15.9615,8.3614,12.1203,36.2314,10.4372,19.7974,26.4201,39.4951,6.0222,19.3857,3.2859,19.0039,23.3818,18.5559,33.3556,15.2758,4.3482,46.3985,36.8288,12.4788],"volumeParticipation":true,"latest":{"consensus":-74.9,"control":-67.2,"force":-73.1,"direction":-85.1,"confirmation":44.6,"persistence":12.5,"assessmentRisk":12.5,"intensity":100.0,"evidenceDepth":100},"analysis":{"status":"Market Dynamics has stronger support","headline":"The gauges support the Market Dynamics view","summary":"Price structure and Market Dynamics disagree. The completed evidence gives the downward Market Dynamics view stronger support.","take":"Current assessment: the visible price structure remains vulnerable until Market Dynamics changes.","tone":"negative","supportedView":"Market Dynamics","direction":"downward","disagreement":true},"support":{"window":"Latest 12 months","controlState":"Seller control supports the view","controlPath":"Control support is strengthening","forceState":"Downward commitment","forcePath":"Commitment is strengthening","directionState":"Downward follow-through","persistenceState":"Unsettled","confirmationState":"Qualified support","riskState":"Contained","intensityState":"Elevated"},"cards":[{"label":"SM Consensus Gauge","value":"-74.9","detail":"Market Dynamics has stronger support","tone":"negative"},{"label":"SM Control Gauge","value":"-67.2","detail":"Seller control supports the view","tone":"negative"},{"label":"SM Force Gauge","value":"-73.1","detail":"Downward commitment","tone":"negative"},{"label":"SM Direction Gauge","value":"-85.1","detail":"Downward follow-through","tone":"negative"},{"label":"SM Confirmation Gauge","value":"45/100","detail":"Qualified support","tone":"neutral"}]},"kpis":[{"label":"Price structure","value":"Aligned upward","detail":"completed-week alignment","tone":"positive"},{"label":"Momentum","value":"82.0","detail":"Stretched positive","tone":"positive"},{"label":"Risk pressure","value":"10.7%","detail":"Contained","tone":"neutral"},{"label":"Trend quality","value":"34.1","detail":"Directional","tone":"positive"},{"label":"Range position","value":"95%","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":[16.5675,15.735,10.215,9.565,10.45,12.1725,10.855,13.8875,11.4025,18.05,18.55,16.725,15.205,10.54,10.675,13.5875,11.655,9.7875,9.3025,8.195,5.7588,8.415,6.83,7.3275,4.902,6.995,3.612,2.83,3.6835,4.306,3.4135,3.359,3.251,1.358,2.0565,1.4815,1.481,1.69,2.2555,2.214,2.571,34.375],"stroke":"#10243b","width":2.1},{"label":"Fast trend","values":[null,null,null,null,13.5574,13.3056,12.8601,13.0469,12.7479,13.7119,14.5916,14.9795,15.0205,14.2058,13.5639,13.5682,13.2203,12.5962,11.9973,11.306,10.2974,9.9551,9.3869,9.0125,8.2651,8.0342,7.2302,6.4301,5.9307,5.6353,5.2314,4.8909,4.5928,4.0046,3.6504,3.2561,2.9333,2.7073,2.6251,2.5504,2.5541,8.3397],"stroke":"#176fa3","width":1.7},{"label":"Slow trend","values":[null,null,null,null,null,null,null,null,null,null,null,null,15.0688,14.7333,14.4327,14.3701,14.169,13.8444,13.508,13.1144,12.5696,12.2618,11.8595,11.5238,11.0333,10.7341,10.2066,9.6602,9.2174,8.8536,8.4507,8.0735,7.7163,7.2453,6.8609,6.4625,6.0935,5.7673,5.5072,5.2632,5.0638,7.235],"stroke":"#07865c","width":1.8},{"label":"Upper envelope","values":[null,null,null,null,null,null,null,null,null,18.5565,19.7117,19.9927,19.9164,19.6954,19.4679,19.2887,19.0683,18.9349,18.8258,18.7922,18.6684,18.2706,18.4198,18.5065,18.7833,18.7234,18.9899,18.9308,18.9316,17.6678,16.0279,14.5739,13.2594,13.0119,12.5496,11.2349,10.2146,9.4868,8.7073,8.0825,7.8648,18.9395],"stroke":"#98a9b8","width":1.0,"dash":[6,5]},{"label":"Lower 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pressure","description":"Capital impairment and recovery are shown together so return is not separated from path difficulty.","reason":"Selected because the current recovery or drawdown path is central to the 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Market Dynamics construction and private inputs are not disclosed. Historical research is not a forecast or instruction to trade."}