{"schema_version":"1.0","name":"NBUE Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"91bd4aae-ee7a-4638-b0ea-63d8c61ef03c","symbol":"NBUE","name":"NBI US Equity Fund - ETF Series","exchange":"TOR","country":"CA","asset_type":"etf","currency":"CAD","sector":null,"industry":null},"summary":"Market Dynamics eased this week but remains positive. Underlying support has contracted across the recent completed path. Price has not yet established a clear direction.","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, Activity pressure and cumulative balance, Directional strength and control, Range position and boundary pressure, Range pressure and compression, Drawdown and recovery pressure."},{"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":49,"displayedObservations":49,"assetType":"ETF","state":"Rotational","stateTone":"caution","summary":"Market Dynamics eased this week but remains positive. Underlying support has contracted across the recent completed path. Price has not yet established a clear direction.","evidenceAlignment":{"status":"Support weakening","headline":"Positive Market Dynamics has weakened while price remains rotational","summary":"Market Dynamics eased this week but remains positive. Underlying support has contracted across the recent completed path. Price has not yet established a clear direction.","take":"Treat the weaker support as caution until price and Market Dynamics establish clearer agreement.","tone":"caution","conflict":true},"marketDynamics":{"available":true,"readAvailable":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"],"values":[-0.343661,-0.377615,-0.323651,-0.187744,0.048858,0.331267,0.627914,0.865642,0.939191,0.859429,0.832272,0.838992,0.879612,0.971095,0.984567,0.93099,0.715251,0.502891,0.409784,0.312817,0.254442],"opens":[9.0,9.24,9.45,9.73,9.74,9.75,9.81,9.69,9.83,9.8,9.83,10.03,9.9,10.16,10.0,10.04,9.89,9.86,10.04,10.19,10.07],"highs":[9.21,9.51,9.61,9.73,9.78,9.85,9.81,9.77,9.83,9.8,9.83,10.03,9.9,10.16,10.0,10.04,9.9,9.96,10.22,10.19,10.07],"lows":[9.0,9.24,9.45,9.68,9.71,9.67,9.68,9.68,9.79,9.8,9.83,10.03,9.9,10.16,10.0,10.04,9.71,9.79,10.04,10.08,9.88],"closes":[9.21,9.51,9.6,9.72,9.78,9.84,9.75,9.77,9.81,9.8,9.83,10.03,9.9,10.16,10.0,10.04,9.71,9.86,10.19,10.12,9.88],"hoverRows":[[{"label":"Open","value":"9.00","className":"is-ohlc","compact":true},{"label":"High","value":"9.21","className":"is-ohlc","compact":true},{"label":"Low","value":"9.00","className":"is-ohlc","compact":true},{"label":"Close","value":"9.21","className":"is-ohlc","compact":true},{"label":"Market 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Dynamics","value":"0.72","note":"Supportive but easing","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"9.86","className":"is-ohlc","compact":true},{"label":"High","value":"9.96","className":"is-ohlc","compact":true},{"label":"Low","value":"9.79","className":"is-ohlc","compact":true},{"label":"Close","value":"9.86","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.50","note":"Supportive but easing","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"10.0","className":"is-ohlc","compact":true},{"label":"High","value":"10.2","className":"is-ohlc","compact":true},{"label":"Low","value":"10.0","className":"is-ohlc","compact":true},{"label":"Close","value":"10.2","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.41","note":"Supportive but easing","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"10.2","className":"is-ohlc","compact":true},{"label":"High","value":"10.2","className":"is-ohlc","compact":true},{"label":"Low","value":"10.1","className":"is-ohlc","compact":true},{"label":"Close","value":"10.1","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.31","note":"Supportive but easing","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"10.1","className":"is-ohlc","compact":true},{"label":"High","value":"10.1","className":"is-ohlc","compact":true},{"label":"Low","value":"9.88","className":"is-ohlc","compact":true},{"label":"Close","value":"9.88","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.25","note":"Supportive but easing","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}]],"pressureRange":[-2.3,2.3],"priceRange":[9.1512,10.2488],"zones":{"accumulationBoundary":-1.5,"accumulationDarkBoundary":-2.0,"distributionBoundary":1.5,"distributionDarkBoundary":2.0},"latest":0.254442,"state":"Positive but weakening over four weeks","context":{"scenario":"positiveWeakening","latestDirection":"easing","fourWeekDirection":"weakening","now":{"label":"Easier this week","detail":"Market Dynamics eased this week but 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":"Positive support is weakening","detail":"Market Dynamics remains above zero, but support has contracted across the recent completed path. Price confirmation now carries more weight.","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 above zero, but support has contracted across the recent completed path. Price confirmation now carries more weight.","annotations":[{"label":"Current tape relationship","value":"Positive support is weakening","detail":"Market Dynamics eased this week but remains positive.","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":"Weakening","detail":"Underlying support has contracted across the recent completed path.","tone":"negative"}],"relationshipEvidence":{"available":false,"observations":21,"summary":"More completed weekly history is needed for a dependable ticker-level record."},"events":{"positioning_recoveries":[],"reversal_warnings":[],"reversal_dangers":[]}},"smTape":{"available":true,"dates":["2025-09-19","2025-09-26","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":[9.77,9.74,9.84,9.75,9.8,9.82,9.76,9.7,9.7,9.43,9.86,9.72,9.58,9.65,9.57,9.48,10.0,9.98,9.89,9.59,9.59,9.43,9.56,9.66,9.35,9.12,9.12,9.1,9.21,9.51,9.6,9.72,9.78,9.84,9.75,9.77,9.81,9.8,9.83,10.03,9.9,10.16,10.0,10.04,9.71,9.86,10.19,10.12,9.88],"consensus":[-100.0,-100.0,77.7778,-100.0,28.2085,18.0417,-32.6671,-42.3854,-20.4322,-77.4587,54.4447,-24.7226,-49.2126,20.9838,-26.4891,-60.0567,59.0643,31.0887,9.5949,-46.0624,-36.682,-67.8875,0.0,16.6877,-66.0757,-65.1719,-49.7195,-27.594,0.0,45.3343,44.18,46.8815,51.6303,51.3322,8.0794,39.113,30.0213,15.9526,28.7859,51.7745,0.0,54.3227,18.4227,27.4109,-50.4408,0.0,58.1834,13.864,23.426],"supportDates":["2025-09-19","2025-09-26","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,9.8297,-32.9794,-45.7882,-9.4485,-83.6884,59.4864,-38.6806,-53.1252,20.0674,-10.9869,-64.5797,61.2913,28.044,1.5955,-54.4874,-34.8134,-69.6958,0.0,7.5457,-63.0056,-74.5536,-54.6925,-14.9333,0.0,49.0739,48.0916,50.937,58.3124,55.3653,8.7387,46.1506,27.6305,20.5754,27.8819,51.5818,0.0,54.1089,7.8242,32.0156,-60.5968,0.0,70.7279,7.4112,44.4214],"force":[-100.0,-100.0,77.7778,-100.0,31.0737,7.2793,-41.2377,-39.8907,-4.8475,-65.1904,51.2006,-37.3609,-37.8193,39.8828,-8.0898,-44.0638,57.7482,1.3734,25.0755,-81.3096,-33.8109,-83.7042,0.0,47.5539,-94.2934,-57.3398,-25.534,-0.1878,0.0,60.4314,41.3195,32.8128,33.9575,35.3439,43.2012,31.6329,24.0948,5.9338,10.8928,35.7672,0.0,38.2683,8.5109,6.3047,-52.4179,0.0,45.93,12.1282,33.795],"direction":[null,null,null,null,26.1619,35.1144,-26.1883,-40.2784,-44.117,-79.1019,51.0002,-0.2566,-52.879,8.5318,-57.3483,-66.3111,57.4593,57.7555,47.1485,-11.2573,-40.8684,-54.5233,0.0,5.0885,-49.429,-60.0444,-61.3114,-61.6393,0.0,30.2769,41.7528,52.2957,56.617,58.143,43.9548,36.413,36.9868,26.3025,42.5999,63.4286,0.0,66.0344,49.7736,37.2242,-37.4218,0.0,52.5991,39.8045,7.9752],"intensity":[null,null,null,null,50.0,100.0,33.3333,100.0,25.0,100.0,100.0,72.7273,83.3333,38.4615,42.8571,53.3333,100.0,94.1176,77.7778,84.2105,45.0,85.7143,81.8182,56.5217,79.1667,88.0,15.3846,55.5556,42.8571,72.4138,63.3333,67.7419,9.375,24.2424,38.2353,5.7143,44.4444,5.4054,7.8947,66.6667,52.5,75.6098,59.5238,9.3023,86.3636,55.5556,86.9565,27.6596,72.9167],"confirmation":[54.6667,54.6667,47.5556,54.6667,54.491,50.9038,78.7099,81.4354,51.5641,92.318,85.2466,53.4718,83.3412,75.3048,76.152,86.6618,86.8265,54.6318,7.8741,83.6858,79.6792,90.1785,9.8888,29.0867,90.051,88.4734,83.0974,53.5211,33.1931,82.9101,81.9908,82.5115,83.8813,83.8776,32.8954,80.181,77.4626,50.9666,76.68,84.0829,33.69,84.8972,7.0516,53.3914,84.0466,3.6395,86.0541,6.33,54.5271],"persistence":[null,null,33.3333,50.0,20.0,0.0,14.2857,25.0,25.0,25.0,25.0,25.0,50.0,50.0,50.0,50.0,25.0,0.0,0.0,0.0,0.0,25.0,12.5,12.5,12.5,37.5,62.5,62.5,50.0,25.0,12.5,12.5,12.5,37.5,62.5,87.5,100.0,100.0,100.0,100.0,87.5,87.5,87.5,87.5,62.5,50.0,50.0,50.0,37.5],"assessmentRisk":[null,null,null,null,5.3769,33.0036,25.7597,11.5852,36.3995,11.2312,0.6838,18.3258,6.5874,33.5674,34.1394,15.3957,18.5526,30.1119,40.3401,45.288,28.9308,15.1749,45.8405,9.1571,8.1936,12.4489,23.7024,35.7476,29.3045,26.2749,27.4944,26.4631,24.1091,22.7811,33.4832,3.5773,5.0934,24.3589,21.2306,23.6726,31.3954,22.5966,35.8253,9.3379,17.8296,48.8655,10.7856,14.664,47.7101],"volumeParticipation":true,"latest":{"consensus":23.4,"control":44.4,"force":33.8,"direction":8.0,"confirmation":54.5,"persistence":37.5,"assessmentRisk":47.7,"intensity":72.9,"evidenceDepth":100},"analysis":{"status":"Market Dynamics 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":"Market Dynamics","direction":"upward","disagreement":false},"support":{"window":"Latest 12 months","controlState":"Buyer control supports the view","controlPath":"Control support is easing","forceState":"Upward commitment","forcePath":"Commitment is easing","directionState":"Follow-through is limited","persistenceState":"Unsettled","confirmationState":"Qualified support","riskState":"Present","intensityState":"Elevated"},"cards":[{"label":"SM Consensus Gauge","value":"+23.4","detail":"Market Dynamics has stronger support","tone":"positive"},{"label":"SM Control Gauge","value":"+44.4","detail":"Buyer control supports the view","tone":"positive"},{"label":"SM Force Gauge","value":"+33.8","detail":"Upward commitment","tone":"positive"},{"label":"SM Direction Gauge","value":"+8.0","detail":"Follow-through is limited","tone":"positive"},{"label":"SM Confirmation Gauge","value":"55/100","detail":"Qualified support","tone":"neutral"}]},"kpis":[{"label":"Price structure","value":"Rotational","detail":"completed-week alignment","tone":"caution"},{"label":"Momentum","value":"51.1","detail":"Positive","tone":"positive"},{"label":"Risk pressure","value":"1.9%","detail":"Normal","tone":"neutral"},{"label":"Trend quality","value":"19.8","detail":"Range-led","tone":"neutral"},{"label":"Range position","value":"72%","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 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Market Dynamics construction and private inputs are not disclosed. Historical research is not a forecast or instruction to trade."}