{"schema_version":"1.0","name":"DLNV Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"8dff1487-30bf-4739-a366-75eb009bcae0","symbol":"DLNV","name":"FT Vest U.S. Equity Dual Directional Buffer ETF November","exchange":"CBOE","country":"US","asset_type":"etf","currency":"USD","sector":null,"industry":null},"summary":"Market Dynamics strengthened this week and remains positive. Underlying support has contracted across the recent completed path. 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, Range position and boundary pressure, Range pressure and compression, Activity pressure and cumulative balance, Directional strength and control, 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":39,"displayedObservations":39,"assetType":"ETF","state":"Aligned upward","stateTone":"positive","summary":"Market Dynamics strengthened this week and remains positive. Underlying support has contracted across the recent completed path. Price remains elevated in the distribution zone.","evidenceAlignment":{"status":"Evidence conflict","headline":"Price is ahead of Market Dynamics","summary":"Market Dynamics strengthened this week and remains positive. Underlying support has contracted across the recent completed path. Price remains elevated in the distribution zone.","take":"The gap can close through stronger Market Dynamics or weaker price. Until then, the upward structure should be treated as vulnerable rather than fully aligned.","tone":"caution","conflict":true},"marketDynamics":{"available":true,"readAvailable":true,"dates":["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":[0.643825,0.88067,0.87126,0.913825,0.956714,0.980832,0.877104,0.7496,0.657262,0.52658,0.557258],"opens":[32.71,32.91,32.8,32.72,33.01,33.1,32.98,32.94,33.32,33.48,33.49],"highs":[32.71,32.91,32.81,32.94,33.1,33.12,33.125,33.1671,33.4513,33.535,33.5496],"lows":[32.4234,32.84,32.6403,32.72,32.92,32.97,32.89,32.8202,33.25,33.455,33.42],"closes":[32.6899,32.845,32.6971,32.9104,33.1,32.97,32.935,33.1671,33.4513,33.535,33.51],"hoverRows":[[{"label":"Open","value":"32.7","className":"is-ohlc","compact":true},{"label":"High","value":"32.7","className":"is-ohlc","compact":true},{"label":"Low","value":"32.4","className":"is-ohlc","compact":true},{"label":"Close","value":"32.7","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.64","note":"Supportive and strengthening","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"32.9","className":"is-ohlc","compact":true},{"label":"High","value":"32.9","className":"is-ohlc","compact":true},{"label":"Low","value":"32.8","className":"is-ohlc","compact":true},{"label":"Close","value":"32.8","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.88","note":"Supportive and strengthening","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"32.8","className":"is-ohlc","compact":true},{"label":"High","value":"32.8","className":"is-ohlc","compact":true},{"label":"Low","value":"32.6","className":"is-ohlc","compact":true},{"label":"Close","value":"32.7","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.87","note":"Supportive but easing","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"32.7","className":"is-ohlc","compact":true},{"label":"High","value":"32.9","className":"is-ohlc","compact":true},{"label":"Low","value":"32.7","className":"is-ohlc","compact":true},{"label":"Close","value":"32.9","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.91","note":"Supportive and strengthening","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"33.0","className":"is-ohlc","compact":true},{"label":"High","value":"33.1","className":"is-ohlc","compact":true},{"label":"Low","value":"32.9","className":"is-ohlc","compact":true},{"label":"Close","value":"33.1","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.96","note":"Supportive and strengthening","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"33.1","className":"is-ohlc","compact":true},{"label":"High","value":"33.1","className":"is-ohlc","compact":true},{"label":"Low","value":"33.0","className":"is-ohlc","compact":true},{"label":"Close","value":"33.0","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.98","note":"Supportive and strengthening","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"33.0","className":"is-ohlc","compact":true},{"label":"High","value":"33.1","className":"is-ohlc","compact":true},{"label":"Low","value":"32.9","className":"is-ohlc","compact":true},{"label":"Close","value":"32.9","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.88","note":"Supportive but easing","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"32.9","className":"is-ohlc","compact":true},{"label":"High","value":"33.2","className":"is-ohlc","compact":true},{"label":"Low","value":"32.8","className":"is-ohlc","compact":true},{"label":"Close","value":"33.2","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.75","note":"Supportive but easing","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"33.3","className":"is-ohlc","compact":true},{"label":"High","value":"33.5","className":"is-ohlc","compact":true},{"label":"Low","value":"33.2","className":"is-ohlc","compact":true},{"label":"Close","value":"33.5","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.66","note":"Supportive but easing","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"33.5","className":"is-ohlc","compact":true},{"label":"High","value":"33.5","className":"is-ohlc","compact":true},{"label":"Low","value":"33.5","className":"is-ohlc","compact":true},{"label":"Close","value":"33.5","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.53","note":"Supportive but easing","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"33.5","className":"is-ohlc","compact":true},{"label":"High","value":"33.5","className":"is-ohlc","compact":true},{"label":"Low","value":"33.4","className":"is-ohlc","compact":true},{"label":"Close","value":"33.5","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.56","note":"Supportive and strengthening","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}]],"pressureRange":[-2.3,2.3],"priceRange":[32.639194,33.585706],"zones":{"accumulationBoundary":-1.5,"accumulationDarkBoundary":-2.0,"distributionBoundary":1.5,"distributionDarkBoundary":2.0},"latest":0.557258,"state":"Positive but weakening over four weeks","context":{"scenario":"positiveWeakening","latestDirection":"strengthening","fourWeekDirection":"weakening","now":{"label":"Stronger this week","detail":"Market Dynamics strengthened this week and remains positive."},"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":"Distribution risk building","detail":"Price remains extended inside distribution conditions while Market Dynamics is shrinking. A descent through the zone would strengthen the rollover warning.","tone":"caution"},"chartSummary":"Price is in the distribution zone. The Market Dynamics bars show whether underlying support is keeping pace with that elevated price.","summary":"Price remains extended inside distribution conditions while Market Dynamics is shrinking. A descent through the zone would strengthen the rollover warning.","annotations":[{"label":"Current tape relationship","value":"Distribution risk building","detail":"Market Dynamics strengthened this week and remains positive.","tone":"caution"},{"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":"Weakening","detail":"Underlying support has contracted across the recent completed path.","tone":"negative"}],"relationshipEvidence":{"available":false,"observations":11,"summary":"More completed weekly history is needed for a dependable ticker-level record."},"events":{"positioning_recoveries":[],"reversal_warnings":[],"reversal_dangers":[]}},"smTape":{"available":true,"dates":["2025-11-28","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":[30.9752,31.06,30.9849,31.0689,31.3134,31.1602,31.4258,31.455,31.3802,31.36,31.46,31.1977,31.3982,31.3402,30.9506,30.726,30.4202,30.0649,30.7293,31.385,32.035,32.1,32.2582,32.49,32.515,32.675,32.855,32.614,32.6899,32.845,32.6971,32.9104,33.1,32.97,32.935,33.1671,33.4513,33.535,33.51],"consensus":[84.8696,60.0,-50.0769,50.1045,47.2883,0.0,49.6822,37.6798,19.9905,0.0,22.7288,-37.5779,31.4986,0.0,-53.6281,-51.9247,-61.0022,-66.7275,22.3479,60.9129,76.0245,54.8864,60.4766,65.1193,31.9615,61.653,59.0922,0.0,42.4635,27.4145,0.0,54.768,60.264,0.0,16.8005,55.5441,65.9931,55.2301,38.4715],"supportDates":["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,0.0,54.9991,37.1966,21.7354,0.0,23.0047,-31.7203,43.0362,0.0,-51.7225,-51.4553,-65.8536,-74.2031,30.5441,58.1826,79.1579,59.0612,65.3419,73.2976,20.8558,68.4163,64.9862,0.0,49.0203,19.9588,0.0,62.776,67.9261,0.0,8.9638,65.9333,75.3479,63.9619,39.5932],"force":[84.8696,60.0,-50.0769,50.1045,27.7271,0.0,37.0831,19.4025,8.8512,0.0,17.8264,-69.617,32.9233,0.0,-56.8805,-38.1528,-54.0802,-56.3913,78.9473,93.0487,95.5674,39.6429,47.9086,49.6935,5.1042,43.8015,36.4419,0.0,20.0686,4.6717,0.0,43.2645,49.4686,0.0,8.4808,46.5802,62.7005,32.6395,7.3655],"direction":[null,null,null,null,61.2606,0.0,52.605,51.2873,25.9531,0.0,25.9153,-21.3872,17.2951,0.0,-53.4827,-62.2982,-60.402,-65.5671,27.4474,41.0789,58.4842,61.0034,63.8935,66.7912,63.8374,66.6746,68.535,0.0,50.9665,52.1802,0.0,53.8328,59.2183,0.0,43.8147,50.0736,57.6539,61.387,59.408],"intensity":[null,null,null,null,100.0,60.0,66.6667,28.5714,75.0,55.5556,80.0,45.4545,41.6667,23.0769,92.8571,46.6667,81.25,88.2353,100.0,100.0,90.0,85.7143,27.2727,34.7826,62.5,28.0,50.0,37.037,32.1429,86.2069,26.6667,32.2581,28.125,12.1212,5.8824,45.7143,88.8889,35.1351,2.6316],"confirmation":[49.8249,41.8667,38.6913,38.7001,59.5714,27.3528,83.4333,79.5079,74.0309,4.4554,75.1196,81.0906,77.9472,1.3908,85.2891,84.2033,87.2358,88.9239,37.2735,88.5131,92.8757,85.0355,86.8954,88.2434,54.9117,87.0819,86.1294,33.9037,80.8059,53.5265,7.2992,85.0532,86.8387,8.5665,29.201,85.3426,88.8749,84.8521,64.6791],"persistence":[null,null,33.3333,50.0,60.0,50.0,57.1429,62.5,62.5,50.0,75.0,50.0,50.0,50.0,25.0,0.0,25.0,37.5,37.5,12.5,12.5,0.0,25.0,50.0,75.0,100.0,100.0,87.5,87.5,87.5,75.0,75.0,75.0,62.5,62.5,75.0,75.0,75.0,87.5],"assessmentRisk":[null,null,null,null,26.1051,31.9775,24.8498,30.723,12.0318,41.3279,1.5662,27.9213,9.932,7.9188,22.7777,23.2788,19.4917,16.6359,43.7831,17.7173,11.97,22.555,19.7344,17.1647,27.4037,15.1706,16.9626,16.215,2.9896,11.6976,27.534,14.4114,18.1818,31.853,37.564,18.7181,15.7902,22.3028,30.6907],"volumeParticipation":true,"latest":{"consensus":38.5,"control":39.6,"force":7.4,"direction":59.4,"confirmation":64.7,"persistence":87.5,"assessmentRisk":30.7,"intensity":2.6,"evidenceDepth":100},"analysis":{"status":"Joint upward confirmation","headline":"The gauges support the upward market view","summary":"Price structure and Market Dynamics agree. Control, force and direction support the same upward assessment.","take":"Current assessment: upward pressure has broad support.","tone":"positive","supportedView":"Price structure and Market Dynamics","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":"Broadly stable","directionState":"Upward follow-through","persistenceState":"Established","confirmationState":"Qualified support","riskState":"Contained","intensityState":"Quiet"},"cards":[{"label":"SM Consensus Gauge","value":"+38.5","detail":"Joint upward confirmation","tone":"positive"},{"label":"SM Control Gauge","value":"+39.6","detail":"Buyer control supports the view","tone":"positive"},{"label":"SM Force Gauge","value":"+7.4","detail":"Commitment is limited","tone":"positive"},{"label":"SM Direction Gauge","value":"+59.4","detail":"Upward follow-through","tone":"positive"},{"label":"SM Confirmation Gauge","value":"65/100","detail":"Qualified support","tone":"neutral"}]},"kpis":[{"label":"Price structure","value":"Aligned upward","detail":"completed-week alignment","tone":"positive"},{"label":"Momentum","value":"73.8","detail":"Stretched positive","tone":"positive"},{"label":"Risk pressure","value":"0.8%","detail":"Contained","tone":"neutral"},{"label":"Trend quality","value":"21.6","detail":"Range-led","tone":"neutral"},{"label":"Range position","value":"99%","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":[30.9752,31.06,30.9849,31.0689,31.3134,31.1602,31.4258,31.455,31.3802,31.36,31.46,31.1977,31.3982,31.3402,30.9506,30.726,30.4202,30.0649,30.7293,31.385,32.035,32.1,32.2582,32.49,32.515,32.675,32.855,32.614,32.6899,32.845,32.6971,32.9104,33.1,32.97,32.935,33.1671,33.4513,33.535,33.51],"stroke":"#10243b","width":2.1},{"label":"Fast trend","values":[null,null,null,null,31.0603,31.0784,31.1416,31.1986,31.2316,31.2549,31.2922,31.275,31.2974,31.3052,31.2407,31.1471,31.015,30.8422,30.8217,30.9241,31.1261,31.3032,31.4768,31.661,31.8163,31.9724,32.1329,32.2204,32.3057,32.4038,32.4571,32.5395,32.6414,32.7012,32.7437,32.8207,32.9353,33.0444,33.129],"stroke":"#176fa3","width":1.7},{"label":"Slow trend","values":[null,null,null,null,null,null,null,null,null,null,null,null,31.1705,31.1831,31.1659,31.1333,31.0805,31.0052,30.9848,31.0144,31.09,31.1648,31.2458,31.338,31.4252,31.5178,31.6168,31.6907,31.7647,31.8447,31.9079,31.9821,32.0649,32.132,32.1915,32.2637,32.3517,32.4393,32.5187],"stroke":"#07865c","width":1.8},{"label":"Upper envelope","values":[null,null,null,null,null,null,null,null,null,31.5754,31.608,31.5896,31.5989,31.596,31.5976,31.6323,31.7132,31.8331,31.8127,31.8219,31.9795,32.1278,32.2932,32.4896,32.6591,32.8464,33.0441,33.1722,33.3036,33.4491,33.5552,33.6817,33.8267,33.9334,33.9989,34.0495,34.0541,33.8898,33.7664],"stroke":"#98a9b8","width":1.0,"dash":[6,5]},{"label":"Lower envelope","values":[null,null,null,null,null,null,null,null,null,30.8613,30.8726,30.8839,30.8994,30.9154,30.8731,30.7748,30.6017,30.3604,30.3421,30.3637,30.312,30.2677,30.2296,30.1754,30.1261,30.0902,30.0355,30.0233,30.0228,30.0258,30.0434,30.0882,30.1133,30.1697,30.3026,30.4961,30.7946,31.3059,31.7074],"stroke":"#98a9b8","width":1.0,"dash":[6,5]}],"guides":[],"dates":["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":"range","eyebrow":"Acceptance map","title":"Range position and boundary pressure","description":"Price location inside its observed range shows whether the tape is pressing an outer boundary or rotating through value.","reason":"Selected because price is testing an observed boundary or moving rapidly through its recent range.","series":[{"label":"Range position","values":[null,null,null,null,null,null,null,98.3696,90.2391,83.5052,92.8571,63.5,83.1569,77.4706,39.2745,17.2549,0.0,0.0,48.1049,88.5802,100.0,100.0,100.0,100.0,96.2477,100.0,99.4863,89.399,91.946,97.1509,92.1877,99.01,100.0,95.2681,94.0157,100.0,100.0,100.0,98.8999],"stroke":"#10243b","width":2.0},{"label":"From high","values":[null,null,null,null,null,null,null,-0.0477,-0.2854,-0.5076,-0.222,-1.1793,-0.5442,-0.7279,-1.962,-2.6734,-3.6421,-4.7675,-2.663,-0.586,0.0,0.0,0.0,0.0,-0.3066,0.0,-0.0456,-0.9593,-0.7288,-0.2578,-0.707,-0.0899,0.0,-0.4529,-0.5736,0.0,0.0,0.0,-0.118],"stroke":"#c13f3f","width":1.5},{"label":"From 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