{"schema_version":"1.0","name":"ONDL Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"9f1fc35b-d621-4c30-8b98-a01144b1deda","symbol":"ONDL","name":"Defiance Daily Target 2X Long ONDS ETF","exchange":"CBOE","country":"US","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, Drawdown and recovery pressure, Range pressure and compression, Range position and boundary pressure, Acceleration, deceleration and rollover, Activity pressure and cumulative balance."},{"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":34,"displayedObservations":34,"assetType":"ETF","state":"Aligned downward","stateTone":"negative","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":["2026-07-17","2026-07-24","2026-07-31","2026-08-07","2026-08-14","2026-08-21"],"values":[-0.365634,-0.488245,-0.517013,-0.470993,-0.366856,-0.300302],"opens":[6.3,5.32,7.49,6.14,9.89,8.87],"highs":[6.99,8.69,7.9299,9.37,10.9,9.368],"lows":[4.7,5.25,5.25,5.94,8.4,7.14],"closes":[5.17,7.27,6.32,9.19,9.24,8.07],"hoverRows":[[{"label":"Open","value":"6.30","className":"is-ohlc","compact":true},{"label":"High","value":"6.99","className":"is-ohlc","compact":true},{"label":"Low","value":"4.70","className":"is-ohlc","compact":true},{"label":"Close","value":"5.17","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"Unavailable","note":"Insufficient completed history","className":"is-muted","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"5.32","className":"is-ohlc","compact":true},{"label":"High","value":"8.69","className":"is-ohlc","compact":true},{"label":"Low","value":"5.25","className":"is-ohlc","compact":true},{"label":"Close","value":"7.27","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"Unavailable","note":"Insufficient completed history","className":"is-muted","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"7.49","className":"is-ohlc","compact":true},{"label":"High","value":"7.93","className":"is-ohlc","compact":true},{"label":"Low","value":"5.25","className":"is-ohlc","compact":true},{"label":"Close","value":"6.32","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"Unavailable","note":"Insufficient completed history","className":"is-muted","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"6.14","className":"is-ohlc","compact":true},{"label":"High","value":"9.37","className":"is-ohlc","compact":true},{"label":"Low","value":"5.94","className":"is-ohlc","compact":true},{"label":"Close","value":"9.19","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"Unavailable","note":"Insufficient completed history","className":"is-muted","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"9.89","className":"is-ohlc","compact":true},{"label":"High","value":"10.9","className":"is-ohlc","compact":true},{"label":"Low","value":"8.40","className":"is-ohlc","compact":true},{"label":"Close","value":"9.24","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"Unavailable","note":"Insufficient completed history","className":"is-muted","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"8.87","className":"is-ohlc","compact":true},{"label":"High","value":"9.37","className":"is-ohlc","compact":true},{"label":"Low","value":"7.14","className":"is-ohlc","compact":true},{"label":"Close","value":"8.07","className":"is-ohlc","compact":true},{"label":"Market 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":[4.9258,9.4842],"zones":{"accumulationBoundary":-1.5,"accumulationDarkBoundary":-2.0,"distributionBoundary":1.5,"distributionDarkBoundary":2.0},"state":"Insufficient history","context":{"scenario":"developing","latestDirection":"strengthening","fourWeekDirection":"strengthening","now":{"label":"Stronger this week","detail":"Market Dynamics improved this week but remains below zero."},"fourWeek":{"label":"Strengthened over four weeks","detail":"Underlying support has strengthened 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":"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 improved this week but remains below zero.","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 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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.","invalidate":"Reassess the reading when either price structure or the Market Dynamics state changes materially.","level":"negative","direction":"strengthening","zone":"middle","zoneContext":"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.","historical":{"label":"Broad directional cases","weeks":12,"direction":"lower","sample":0},"nowContext":{"label":"Stronger this week","detail":"Market Dynamics improved this week but remains below zero."},"fourWeekContext":{"label":"Strengthened over four weeks","detail":"Underlying support has strengthened across the recent completed path."},"priceContext":{"label":"Price structure is downward","detail":"Price is responding in the same broad direction as Market Dynamics."}},"strategyApproach":{"headline":"Strategy observations from this ticker's own record","summary":"The current reading identifies the setup. The observations below show how this ticker's completed history can guide positioning, confirmation and risk control without treating any one reading as a forecast.","observations":[{"eyebrow":"Divergence control","title":"Do not chase price while the underlying evidence lags","tone":"caution","approach":"Use the gap to review position size, protect gains and wait for either Market Dynamics to catch up or price to correct. The disagreement is a warning condition, not an automatic exit.","finding":"The current relationship is visible, but this ticker does not yet have a completed comparable outcome.","watch":"Reassess the reading when either price structure or the Market Dynamics state changes materially."}]},"summary":"This record compares the ticker's completed price path with its published Market Dynamics history."},"events":{"positioning_recoveries":[],"reversal_warnings":[],"reversal_dangers":[]}},"smTape":{"available":true,"dates":["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":[33.16,48.99,37.7,37.29,25.99,20.93,18.94,21.14,21.08,19.58,20.57,19.75,14.69,16.76,15.17,17.84,19.5,18.22,13.91,17.96,12.79,25.63,14.81,11.82,11.5,7.83,7.0,6.59,5.17,7.27,6.32,9.19,9.24,8.07],"consensus":[100.0,22.3269,-95.751,-46.0631,-44.8557,-40.7087,-37.4806,-20.8279,-19.8382,-28.2382,0.0,-21.1279,-44.4667,0.0,-31.4072,0.0,0.0,0.0,-30.4196,12.3192,-41.2632,52.7734,-39.2172,-34.5063,-19.2848,-44.4183,-38.0636,-33.58,-36.512,0.0,-21.3085,20.1003,0.0,-12.3726],"supportDates":["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,-35.4096,-33.6046,-13.3289,-18.3659,-31.0991,0.0,-24.2903,-43.7005,0.0,-33.9303,0.0,0.0,0.0,-36.8779,10.1523,-45.9358,48.3364,-42.8524,-38.7985,-24.8677,-45.4125,-44.2476,-40.4626,-40.3244,0.0,-25.7303,21.921,0.0,-17.6804],"force":[100.0,22.3269,-95.751,-46.0631,-38.043,-27.2975,-19.5877,-2.3172,-6.0561,-27.1913,0.0,-15.7526,-50.2951,0.0,-22.1933,0.0,0.0,0.0,-34.8074,38.3615,-50.0988,87.4344,-75.1495,-35.8489,-8.9914,-43.3455,-25.8605,-18.5638,-24.8467,0.0,-13.1164,44.4575,0.0,-12.1735],"direction":[null,null,null,null,-49.7218,-56.3441,-54.6911,-45.9306,-31.3651,-25.7163,0.0,-21.3531,-41.1791,0.0,-35.1051,0.0,0.0,0.0,-19.9046,3.8061,-29.6118,33.0864,-9.3967,-28.6421,-20.2569,-44.0485,-39.7128,-36.44,-40.4874,0.0,-22.1066,0.6215,0.0,-6.4487],"intensity":[null,null,null,null,75.0,40.0,33.3333,28.5714,37.5,44.4444,60.0,18.1818,41.6667,69.2308,21.4286,6.6667,43.75,5.8824,50.0,52.6316,60.0,95.2381,81.8182,95.6522,16.6667,28.0,3.8462,3.7037,3.5714,10.3448,3.3333,29.0323,21.875,6.0606],"confirmation":[54.6667,29.8113,53.307,37.4069,59.3757,80.6988,79.5076,51.9015,51.284,76.9607,48.8247,74.5489,82.4186,5.8949,77.7311,4.457,24.7184,24.6878,77.7696,50.9141,81.4023,86.0114,81.5892,79.0175,73.7724,82.166,79.7142,78.1831,79.2702,5.2421,74.5017,52.48,24.6675,49.2056],"persistence":[null,null,33.3333,0.0,20.0,33.3333,42.8571,50.0,75.0,100.0,87.5,87.5,87.5,75.0,75.0,62.5,50.0,37.5,50.0,25.0,25.0,12.5,12.5,25.0,37.5,50.0,50.0,75.0,75.0,87.5,87.5,62.5,50.0,50.0],"assessmentRisk":[null,null,null,null,6.014,29.2784,29.634,37.2855,17.2097,5.3482,14.6157,0.6638,14.786,19.71,26.8755,24.2973,40.2973,30.0582,9.3458,3.8497,28.5024,19.8265,27.7772,23.1101,1.9008,27.6518,25.8209,20.7883,23.4434,4.0645,4.2592,12.7603,34.0737,14.1729],"volumeParticipation":true,"latest":{"consensus":-12.4,"control":-17.7,"force":-12.2,"direction":-6.4,"confirmation":49.2,"persistence":50.0,"assessmentRisk":14.2,"intensity":6.1,"evidenceDepth":100},"analysis":{"status":"Price structure has the available support","headline":"The gauges support the price-technical view","summary":"Market Dynamics does not provide a directional confirmation. The completed evidence supports the downward price structure.","take":"Current assessment: follow price structure with limited confirmation.","tone":"negative","supportedView":"Price structure","direction":"downward","disagreement":false},"support":{"window":"Latest 12 months","controlState":"Seller control supports the view","controlPath":"Control support is strengthening","forceState":"Downward commitment","forcePath":"Commitment is strengthening","directionState":"Follow-through is limited","persistenceState":"Developing","confirmationState":"Qualified support","riskState":"Contained","intensityState":"Quiet"},"cards":[{"label":"SM Consensus Gauge","value":"-12.4","detail":"Price structure has the available support","tone":"negative"},{"label":"SM Control Gauge","value":"-17.7","detail":"Seller control supports the view","tone":"negative"},{"label":"SM Force Gauge","value":"-12.2","detail":"Downward commitment","tone":"negative"},{"label":"SM Direction Gauge","value":"-6.4","detail":"Follow-through is limited","tone":"negative"},{"label":"SM Confirmation Gauge","value":"49/100","detail":"Qualified support","tone":"neutral"}]},"kpis":[{"label":"Price structure","value":"Aligned downward","detail":"completed-week alignment","tone":"negative"},{"label":"Momentum","value":"61.4","detail":"Positive","tone":"positive"},{"label":"Risk pressure","value":"77.8%","detail":"Normal","tone":"neutral"},{"label":"Trend quality","value":"10.7","detail":"Range-led","tone":"neutral"},{"label":"Range position","value":"13%","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 downward.","series":[{"label":"Close","values":[33.16,48.99,37.7,37.29,25.99,20.93,18.94,21.14,21.08,19.58,20.57,19.75,14.69,16.76,15.17,17.84,19.5,18.22,13.91,17.96,12.79,25.63,14.81,11.82,11.5,7.83,7.0,6.59,5.17,7.27,6.32,9.19,9.24,8.07],"stroke":"#10243b","width":2.1},{"label":"Fast trend","values":[null,null,null,null,34.5997,32.1143,29.719,28.1592,26.8721,25.5462,24.6415,23.7521,22.1044,21.1327,20.0486,19.647,19.6203,19.3657,18.3738,18.2985,17.297,18.8121,18.0844,16.9454,15.9554,14.478,13.1184,11.9314,10.7021,10.078,9.3948,9.3575,9.3362,9.106],"stroke":"#176fa3","width":1.7},{"label":"Slow trend","values":[null,null,null,null,null,null,null,null,null,null,null,null,27.3427,26.5588,25.7152,25.1319,24.7147,24.2336,23.4689,23.0608,22.3,22.5467,21.9736,21.2215,20.5014,19.5627,18.6322,17.7402,16.809,16.1024,15.3778,14.9195,14.4988,14.0226],"stroke":"#07865c","width":1.8},{"label":"Upper 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Market Dynamics construction and private inputs are not disclosed. Historical research is not a forecast or instruction to trade."}