{"schema_version":"1.0","name":"NIOG Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"9ffbb6d4-46f1-46c2-b66d-bd5fb9329c8c","symbol":"NIOG","name":"Leverage Shares 2X Long NIO Daily ETF","exchange":"NASDAQ","country":"US","asset_type":"etf","currency":"USD","sector":null,"industry":null},"summary":"Market Dynamics improved this week but remains below zero. The broader path has not changed enough to establish a new direction. The downward price structure agrees with that pressure, but price has not declined to the same extent.","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, Range pressure and compression, Activity pressure and cumulative balance, Directional strength and control."},{"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":36,"displayedObservations":36,"assetType":"ETF","state":"Aligned downward","stateTone":"negative","summary":"Market Dynamics improved this week but remains below zero. The broader path has not changed enough to establish a new direction. The downward price structure agrees with that pressure, but price has not declined to the same extent.","evidenceAlignment":{"status":"Downside evidence leads price","headline":"Market Dynamics remains weaker than price","summary":"Market Dynamics improved this week but remains below zero. The broader path has not changed enough to establish a new direction. The downward price structure agrees with that pressure, but price has not declined to the same extent.","take":"The downside remains supported. Further price weakness would confirm that price is catching up with the weaker underlying position.","tone":"negative","conflict":false},"marketDynamics":{"available":true,"readAvailable":true,"dates":["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":[-0.85944,-1.170094,-1.155568,-1.20787,-1.211886,-1.193176,-1.176819,-1.129539],"opens":[12.12,11.93,12.1295,12.071,10.35,11.55,11.16,10.0899],"highs":[12.89,12.92,13.3595,12.1349,11.9,11.7,11.35,10.4],"lows":[11.25,11.34,11.4,9.8843,10.2,10.14,9.645,9.76],"closes":[11.4645,11.3446,11.8001,9.8843,11.7432,10.93,9.915,10.3611],"hoverRows":[[{"label":"Open","value":"12.1","className":"is-ohlc","compact":true},{"label":"High","value":"12.9","className":"is-ohlc","compact":true},{"label":"Low","value":"11.2","className":"is-ohlc","compact":true},{"label":"Close","value":"11.5","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.86","note":"Cautious and weakening","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"11.9","className":"is-ohlc","compact":true},{"label":"High","value":"12.9","className":"is-ohlc","compact":true},{"label":"Low","value":"11.3","className":"is-ohlc","compact":true},{"label":"Close","value":"11.3","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-1.17","note":"Cautious and weakening","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"12.1","className":"is-ohlc","compact":true},{"label":"High","value":"13.4","className":"is-ohlc","compact":true},{"label":"Low","value":"11.4","className":"is-ohlc","compact":true},{"label":"Close","value":"11.8","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-1.16","note":"Cautious but repairing","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"12.1","className":"is-ohlc","compact":true},{"label":"High","value":"12.1","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":"-1.21","note":"Cautious and weakening","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"10.3","className":"is-ohlc","compact":true},{"label":"High","value":"11.9","className":"is-ohlc","compact":true},{"label":"Low","value":"10.2","className":"is-ohlc","compact":true},{"label":"Close","value":"11.7","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-1.21","note":"Cautious and weakening","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"11.6","className":"is-ohlc","compact":true},{"label":"High","value":"11.7","className":"is-ohlc","compact":true},{"label":"Low","value":"10.1","className":"is-ohlc","compact":true},{"label":"Close","value":"10.9","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-1.19","note":"Cautious but repairing","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"11.2","className":"is-ohlc","compact":true},{"label":"High","value":"11.3","className":"is-ohlc","compact":true},{"label":"Low","value":"9.64","className":"is-ohlc","compact":true},{"label":"Close","value":"9.91","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-1.18","note":"Cautious but repairing","className":"is-negative","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":"10.4","className":"is-ohlc","compact":true},{"label":"Low","value":"9.76","className":"is-ohlc","compact":true},{"label":"Close","value":"10.4","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-1.13","note":"Cautious but repairing","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}]],"pressureRange":[-2.3,2.3],"priceRange":[9.769352,11.915048],"zones":{"accumulationBoundary":-1.5,"accumulationDarkBoundary":-2.0,"distributionBoundary":1.5,"distributionDarkBoundary":2.0},"latest":-1.129539,"state":"Price is moving ahead of Market Dynamics","context":{"scenario":"priceAhead","latestDirection":"slight strengthening","fourWeekDirection":"steady","now":{"label":"Slightly stronger this week","detail":"Market Dynamics improved this week but remains below zero."},"fourWeek":{"label":"Broadly steady over four weeks","detail":"The broader path has not changed enough to establish a new direction."},"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":"Price response ahead of support","detail":"Price has advanced further through its recent range than Market Dynamics. The gap is an early-downside risk watch; stronger underlying support or a price reset is needed to close it.","tone":"caution"},"chartSummary":"Price is between the outer positioning zones. The Market Dynamics bars show whether underlying support is strengthening or weakening.","summary":"Price has advanced further through its recent range than Market Dynamics. The gap is an early-downside risk watch; stronger underlying support or a price reset is needed to close it.","annotations":[{"label":"Current tape relationship","value":"Price response ahead of support","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":"Lagging price","detail":"Price is extended relative to Market Dynamics. The gap is a downside-risk warning until support catches up or price resets.","tone":"positive"}],"relationshipEvidence":{"available":false,"observations":24,"summary":"More completed weekly history is needed for a dependable ticker-level record."},"events":{"positioning_recoveries":[],"reversal_warnings":[],"reversal_dangers":[]}},"smTape":{"available":true,"dates":["2025-12-19","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":[15.745,16.5024,16.655,13.3768,13.6411,13.2017,13.508,15.3628,14.6439,15.3335,14.1454,13.4573,19.76,16.7307,15.8181,21.8056,23.3,25.4504,20.9985,18.9015,18.3609,19.6531,14.18,16.118,14.7165,13.7534,12.78,11.8753,11.4645,11.3446,11.8001,9.8843,11.7432,10.93,9.915,10.3611],"consensus":[16.4893,76.9816,-56.8873,-51.7409,-57.5171,-41.9341,-28.6565,50.1872,0.0,28.97,-32.1932,-30.4022,76.3247,-19.2035,-11.7426,79.0133,59.3979,63.0549,0.0,-32.1504,-19.1003,0.0,-65.8697,0.0,-44.8666,-45.1454,-40.3456,-41.2431,-42.3728,-41.0252,-25.1022,-55.0229,8.4523,-25.0985,-43.5305,-0.927],"supportDates":["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,-32.9761,-13.8016,39.7502,0.0,23.5243,-37.7235,-16.7,63.1463,-28.9475,-22.1833,73.2185,56.6785,60.7657,0.0,-27.1608,-14.1905,0.0,-60.7396,0.0,-37.963,-45.3365,-46.4857,-38.4398,-45.5897,-46.4187,-27.7432,-64.3182,15.8727,-28.0388,-48.1017,-2.4187],"force":[16.4893,76.9816,-56.8873,-51.7409,-13.3173,-19.0496,-8.8962,87.5139,0.0,30.3878,-58.353,-29.592,98.2932,-79.7269,-39.3369,93.4365,62.0027,61.191,0.0,-70.9354,-24.5207,0.0,-95.8467,0.0,-60.5068,-39.5749,-28.9422,-29.1847,-24.328,-22.5819,-5.5106,-48.2126,37.9045,-13.6301,-36.3054,-23.9725],"direction":[null,null,null,null,-89.0883,-68.5179,-59.7481,35.4534,0.0,34.1809,-7.1873,-46.6404,75.694,-35.1633,-19.8997,75.3335,60.6453,67.0023,0.0,-10.1493,-20.8399,0.0,-50.3205,0.0,-41.585,-48.9058,-41.4737,-53.0599,-51.5854,-48.035,-36.0779,-49.2643,21.0655,-29.9297,-43.467,-22.5359],"intensity":[null,null,null,null,25.0,20.0,50.0,71.4286,62.5,33.3333,60.0,81.8182,100.0,76.9231,64.2857,93.3333,75.0,58.8235,83.3333,52.6316,70.0,47.619,90.9091,47.8261,54.1667,76.0,23.0769,25.9259,7.1429,3.4483,10.0,45.1613,43.75,27.2727,29.4118,28.5714],"confirmation":[27.9432,47.3008,40.8706,39.2238,61.7182,80.858,76.7942,85.3565,26.118,77.3966,56.3481,77.9128,93.2942,38.0094,31.3515,93.8121,87.1282,88.1556,35.8319,79.5462,74.3521,25.8273,90.0701,8.6691,82.9392,82.2738,80.4695,80.873,80.9603,80.4838,52.7287,85.2581,30.6499,75.6372,81.6399,13.2189],"persistence":[null,null,33.3333,0.0,20.0,33.3333,42.8571,25.0,37.5,37.5,37.5,37.5,12.5,12.5,12.5,12.5,0.0,0.0,12.5,12.5,12.5,0.0,0.0,12.5,37.5,62.5,75.0,75.0,75.0,87.5,87.5,100.0,75.0,75.0,75.0,62.5],"assessmentRisk":[null,null,null,null,14.4637,28.0344,34.7496,18.6245,32.9387,31.5468,38.5992,30.1362,10.9538,37.0245,37.2082,10.2439,14.225,18.3485,50.4819,20.9801,36.7639,49.3803,15.2839,34.2105,16.8166,25.6411,2.5429,24.5021,23.8228,20.1555,10.4231,13.2981,3.2989,1.4644,17.7249,20.3393],"volumeParticipation":true,"latest":{"consensus":-0.9,"control":-2.4,"force":-24.0,"direction":-22.5,"confirmation":13.2,"persistence":62.5,"assessmentRisk":20.3,"intensity":28.6,"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":"Commitment is easing","directionState":"Downward follow-through","persistenceState":"Developing","confirmationState":"Limited support","riskState":"Contained","intensityState":"Quiet"},"cards":[{"label":"SM Consensus Gauge","value":"-0.9","detail":"Joint downward confirmation","tone":"negative"},{"label":"SM Control Gauge","value":"-2.4","detail":"Control support is limited","tone":"negative"},{"label":"SM Force Gauge","value":"-24.0","detail":"Downward commitment","tone":"negative"},{"label":"SM Direction Gauge","value":"-22.5","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":"42.3","detail":"Negative","tone":"negative"},{"label":"Risk pressure","value":"24.9%","detail":"Normal","tone":"neutral"},{"label":"Trend quality","value":"18.4","detail":"Range-led","tone":"neutral"},{"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 downward.","series":[{"label":"Close","values":[15.745,16.5024,16.655,13.3768,13.6411,13.2017,13.508,15.3628,14.6439,15.3335,14.1454,13.4573,19.76,16.7307,15.8181,21.8056,23.3,25.4504,20.9985,18.9015,18.3609,19.6531,14.18,16.118,14.7165,13.7534,12.78,11.8753,11.4645,11.3446,11.8001,9.8843,11.7432,10.93,9.915,10.3611],"stroke":"#10243b","width":2.1},{"label":"Fast trend","values":[null,null,null,null,15.1964,14.8337,14.5927,14.7327,14.7165,14.8287,14.7045,14.4777,15.4381,15.6731,15.6995,16.8097,17.9898,19.3462,19.6466,19.5112,19.302,19.3659,18.423,18.0039,17.4062,16.742,16.0217,15.2678,14.5763,13.9887,13.5908,12.9169,12.7035,12.381,11.9327,11.6469],"stroke":"#176fa3","width":1.7},{"label":"Slow trend","values":[null,null,null,null,null,null,null,null,null,null,null,null,15.3495,15.4518,15.4789,15.9476,16.4922,17.1558,17.4404,17.5486,17.6088,17.7602,17.495,17.393,17.1948,16.9399,16.6317,16.2794,15.9227,15.5836,15.3034,14.9019,14.668,14.3911,14.0595,13.7856],"stroke":"#07865c","width":1.8},{"label":"Upper envelope","values":[null,null,null,null,null,null,null,null,null,17.283,17.1375,17.0352,18.6042,18.7059,18.6462,20.2354,21.8275,23.6475,23.969,23.9515,24.0875,24.3297,24.3249,24.2777,24.2374,24.2044,24.2547,24.4267,24.6028,24.7582,24.8543,25.0862,24.7744,24.7535,24.8092,24.009],"stroke":"#98a9b8","width":1.0,"dash":[6,5]},{"label":"Lower 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difficulty.","reason":"Selected because the current recovery or drawdown path is central to the tape.","series":[{"label":"Drawdown","values":[0.0,0.0,0.0,-19.683,-18.0961,-20.7343,-18.8952,-7.7586,-12.0751,-7.9346,-15.0681,-19.1996,0.0,-15.3305,-19.9489,0.0,0.0,0.0,-17.4925,-25.732,-27.8561,-22.7788,-44.2838,-36.669,-42.1758,-45.96,-49.7847,-53.3394,-54.9536,-55.4247,-53.6349,-61.1625,-53.8585,-57.0537,-61.0419,-59.289],"stroke":"#c13f3f","width":1.9,"fill":"rgba(193,63,63,.10)"},{"label":"Recovery","values":[null,null,null,null,null,null,null,16.3699,10.9244,16.1479,7.1483,1.9361,49.6777,26.7314,19.8187,65.1727,76.4924,92.7812,59.0591,43.1747,39.0798,48.8679,7.4104,22.0903,11.4743,4.179,0.0,0.0,0.0,0.0,4.0151,0.0,18.8066,10.5794,0.3106,4.8238],"stroke":"#07865c","width":1.7}],"guides":[{"label":"Prior 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