{"schema_version":"1.0","name":"HEFT Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"a3af0d6d-80ea-49c6-9c47-951f16df4b97","symbol":"HEFT","name":"HEDGEYE FOURTH TURNING ETF","exchange":"NYSEARCA","country":"US","asset_type":"etf","currency":"USD","sector":null,"industry":null},"summary":"Market Dynamics improved this week but remains below zero. Underlying support has strengthened 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, Activity pressure and cumulative balance, Range pressure and compression, Directional strength and control, Range position and boundary pressure, 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":40,"displayedObservations":40,"assetType":"ETF","state":"Aligned upward","stateTone":"positive","summary":"Market Dynamics improved this week but remains below zero. Underlying support has strengthened across the recent completed path. Price remains elevated in the distribution zone.","evidenceAlignment":{"status":"Material conflict","headline":"Upward price structure is not confirmed by Market Dynamics","summary":"Market Dynamics improved this week but remains below zero. Underlying support has strengthened across the recent completed path. 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":["2026-06-05","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":[-0.388351,-0.510824,-0.521545,-0.549121,-0.537352,-0.577956,-0.596496,-0.617752,-0.630613,-0.574955,-0.539997,-0.531915],"opens":[27.04,26.66,26.52,26.52,26.08,26.23,26.1,26.245,26.1,26.03,25.48,26.54],"highs":[27.425,26.76,27.03,26.72,26.5861,26.45,26.49,26.37,26.2893,26.4415,26.7348,26.8041],"lows":[26.206,25.96,26.05,26.05,26.08,26.11,26.1,26.1,26.05,25.96,25.48,26.45],"closes":[26.206,26.506,26.49,26.34,26.22,26.24,26.17,26.286,26.11,26.3999,26.6598,26.69],"hoverRows":[[{"label":"Open","value":"27.0","className":"is-ohlc","compact":true},{"label":"High","value":"27.4","className":"is-ohlc","compact":true},{"label":"Low","value":"26.2","className":"is-ohlc","compact":true},{"label":"Close","value":"26.2","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.39","note":"Cautious and weakening","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"26.7","className":"is-ohlc","compact":true},{"label":"High","value":"26.8","className":"is-ohlc","compact":true},{"label":"Low","value":"26.0","className":"is-ohlc","compact":true},{"label":"Close","value":"26.5","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.51","note":"Cautious and weakening","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"26.5","className":"is-ohlc","compact":true},{"label":"High","value":"27.0","className":"is-ohlc","compact":true},{"label":"Low","value":"26.1","className":"is-ohlc","compact":true},{"label":"Close","value":"26.5","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.52","note":"Cautious and weakening","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"26.5","className":"is-ohlc","compact":true},{"label":"High","value":"26.7","className":"is-ohlc","compact":true},{"label":"Low","value":"26.1","className":"is-ohlc","compact":true},{"label":"Close","value":"26.3","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.55","note":"Cautious and weakening","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"26.1","className":"is-ohlc","compact":true},{"label":"High","value":"26.6","className":"is-ohlc","compact":true},{"label":"Low","value":"26.1","className":"is-ohlc","compact":true},{"label":"Close","value":"26.2","className":"is-ohlc","compact":true},{"label":"Market 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Dynamics","value":"-0.60","note":"Cautious and weakening","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"26.2","className":"is-ohlc","compact":true},{"label":"High","value":"26.4","className":"is-ohlc","compact":true},{"label":"Low","value":"26.1","className":"is-ohlc","compact":true},{"label":"Close","value":"26.3","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.62","note":"Cautious and weakening","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"26.1","className":"is-ohlc","compact":true},{"label":"High","value":"26.3","className":"is-ohlc","compact":true},{"label":"Low","value":"26.1","className":"is-ohlc","compact":true},{"label":"Close","value":"26.1","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.63","note":"Cautious and weakening","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"26.0","className":"is-ohlc","compact":true},{"label":"High","value":"26.4","className":"is-ohlc","compact":true},{"label":"Low","value":"26.0","className":"is-ohlc","compact":true},{"label":"Close","value":"26.4","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":"25.5","className":"is-ohlc","compact":true},{"label":"High","value":"26.7","className":"is-ohlc","compact":true},{"label":"Low","value":"25.5","className":"is-ohlc","compact":true},{"label":"Close","value":"26.7","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.54","note":"Cautious but repairing","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"26.5","className":"is-ohlc","compact":true},{"label":"High","value":"26.8","className":"is-ohlc","compact":true},{"label":"Low","value":"26.4","className":"is-ohlc","compact":true},{"label":"Close","value":"26.7","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.53","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":[26.0752,26.7248],"zones":{"accumulationBoundary":-1.5,"accumulationDarkBoundary":-2.0,"distributionBoundary":1.5,"distributionDarkBoundary":2.0},"latest":-0.531915,"state":"Price ahead of Market Dynamics","context":{"scenario":"priceAhead","latestDirection":"slight strengthening","fourWeekDirection":"strengthening","now":{"label":"Slightly 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 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 improved this week but 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":12,"summary":"More completed weekly history is needed for a dependable ticker-level record."},"events":{"positioning_recoveries":[],"reversal_warnings":[],"reversal_dangers":[]}},"smTape":{"available":true,"dates":["2025-11-21","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":[25.0346,25.445,25.3641,25.3533,25.3297,25.7014,25.4844,26.3,26.83,27.38,27.09,27.13,27.18,27.24,27.493,26.9,26.85,26.35,26.85,26.74,26.33,25.6,25.81,26.17,26.69,26.89,26.936,26.97,26.206,26.506,26.49,26.34,26.22,26.24,26.17,26.286,26.11,26.3999,26.6598,26.69],"consensus":[40.5873,100.0,-81.5141,0.0,30.0132,53.3083,0.0,77.1953,81.7986,85.7637,9.9039,39.3509,35.423,34.7649,57.9539,-26.0217,0.0,-47.7874,30.4339,-11.6936,-35.0976,-64.9851,-9.6871,0.0,33.8531,27.8281,15.387,15.317,-42.005,0.0,-8.663,-19.4331,-14.5517,-12.8328,-20.1306,0.0,-21.3056,25.0713,34.0061,-20.8226],"supportDates":["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,59.8111,0.0,69.1253,77.011,83.4493,3.0132,27.555,30.7362,44.9041,60.7732,-22.8603,0.0,-44.9929,39.6852,-7.1379,-30.7975,-59.7705,-1.5024,0.0,36.6054,22.9568,5.8004,7.5884,-44.8037,0.0,-3.1499,-15.0302,-16.8965,-11.2627,-20.1194,0.0,-25.9749,28.7369,34.213,-21.0694],"force":[40.5873,100.0,-81.5141,0.0,4.0216,33.4458,0.0,89.7711,89.5763,91.2376,61.0797,16.1793,10.5005,17.0416,48.7394,-77.9795,0.0,-68.3334,70.5113,-28.21,-43.7851,-87.1919,-31.1896,0.0,49.5851,24.387,3.1584,2.1227,-54.399,0.0,-8.3242,-19.5727,-11.5344,-5.1105,-15.0585,0.0,-16.1646,46.4404,45.8333,-15.1245],"direction":[null,null,null,null,54.3238,60.064,0.0,77.4354,81.7148,84.4986,75.369,69.383,58.5813,35.8369,61.3137,-7.4781,0.0,-36.3053,8.7658,-5.1027,-33.8067,-55.0828,-51.6728,0.0,19.4704,35.8531,35.0777,33.5743,-29.9535,0.0,-15.2059,-24.3652,-14.0271,-20.1433,-23.7662,0.0,-19.6414,5.6182,25.3216,-24.6105],"intensity":[null,null,null,null,25.0,40.0,33.3333,71.4286,62.5,55.5556,100.0,72.7273,25.0,15.3846,28.5714,60.0,62.5,47.0588,50.0,26.3158,40.0,76.1905,59.0909,43.4783,54.1667,52.0,42.3077,62.963,82.1429,72.4138,16.6667,19.3548,6.25,9.0909,5.8824,8.5714,19.4444,29.7297,50.0,89.7436],"confirmation":[35.6546,54.6667,48.7512,1.6489,32.0019,84.3542,5.0612,93.2087,94.4855,95.6465,14.8759,80.0659,78.6472,78.4301,86.2215,56.8872,24.4194,83.9607,35.356,26.9814,79.5615,89.5515,8.9989,29.6925,79.2705,76.8743,27.3639,27.2838,81.7767,26.6102,48.1792,74.2899,72.5288,49.2284,74.2874,2.8287,74.59,53.9515,79.2392,44.64],"persistence":[null,null,33.3333,25.0,40.0,50.0,42.8571,50.0,50.0,50.0,75.0,87.5,87.5,87.5,100.0,75.0,62.5,37.5,37.5,12.5,12.5,37.5,62.5,50.0,37.5,12.5,12.5,12.5,12.5,25.0,25.0,12.5,12.5,37.5,62.5,75.0,75.0,62.5,37.5,12.5],"assessmentRisk":[null,null,null,null,30.2883,15.1594,19.8013,11.0377,9.0874,7.114,45.0358,29.537,21.5262,37.9884,13.9426,14.7189,35.4659,24.9105,61.0007,12.8715,26.8032,15.5508,44.9019,45.6074,18.9593,35.9201,41.9342,40.6213,20.1062,36.9381,35.7592,36.781,9.1165,24.7057,29.2713,9.7713,7.6,14.8141,30.5837,35.087],"volumeParticipation":true,"latest":{"consensus":-20.8,"control":-21.1,"force":-15.1,"direction":-24.6,"confirmation":44.6,"persistence":12.5,"assessmentRisk":35.1,"intensity":89.7,"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":"-20.8","detail":"Market Dynamics has stronger support","tone":"negative"},{"label":"SM Control Gauge","value":"-21.1","detail":"Seller control supports the view","tone":"negative"},{"label":"SM Force Gauge","value":"-15.1","detail":"Downward commitment","tone":"negative"},{"label":"SM Direction Gauge","value":"-24.6","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":"60.3","detail":"Positive","tone":"positive"},{"label":"Risk pressure","value":"2.3%","detail":"Normal","tone":"neutral"},{"label":"Trend quality","value":"26.6","detail":"Directional","tone":"positive"},{"label":"Range position","value":"54%","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":[25.0346,25.445,25.3641,25.3533,25.3297,25.7014,25.4844,26.3,26.83,27.38,27.09,27.13,27.18,27.24,27.493,26.9,26.85,26.35,26.85,26.74,26.33,25.6,25.81,26.17,26.69,26.89,26.936,26.97,26.206,26.506,26.49,26.34,26.22,26.24,26.17,26.286,26.11,26.3999,26.6598,26.69],"stroke":"#10243b","width":2.1},{"label":"Fast trend","values":[null,null,null,null,25.2166,25.3048,25.3374,25.5124,25.752,26.048,26.2375,26.3997,26.5416,26.6686,26.8185,26.8333,26.8363,26.7479,26.7665,26.7617,26.6832,26.4862,26.3633,26.3281,26.3939,26.4841,26.5663,26.6397,26.5608,26.5509,26.5398,26.5035,26.4519,26.4134,26.3691,26.354,26.3097,26.3261,26.3867,26.4419],"stroke":"#176fa3","width":1.7},{"label":"Slow 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balance","description":"Observed activity is compared with its normal backdrop while cumulative balance tracks directional participation.","reason":"Selected because participation is confirming or diverging from the latest price path.","series":[{"label":"Activity versus norm","values":[null,null,null,null,null,null,null,235.503,232.769,239.8928,282.187,186.8843,88.6388,99.2,101.5012,259.8773,81.3819,81.8497,162.8831,247.8494,63.0841,140.4046,155.5055,30.2098,59.8429,50.3289,39.1852,24.2886,18.7767,49.522,32.029,30.4157,74.5925,51.0274,41.4373,23.1437,17.6239,75.6247,39.5025,29.0043],"stroke":"#1678a7","width":1.8},{"label":"Cumulative 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expanding, settling or compressed.","reason":"Selected because current variability is unusually compressed or expanded versus this ticker's own tape.","series":[{"label":"Range pressure","values":[null,null,null,null,null,null,null,null,null,null,null,null,null,2.0825,2.0493,2.2661,2.2279,2.2839,2.2808,2.2896,2.3517,2.5306,2.4553,2.4205,2.3914,2.3715,2.4953,2.4121,2.6374,2.6369,2.7143,2.7164,2.6718,2.5716,2.5008,2.3853,2.2953,2.2382,2.3943,2.3155],"stroke":"#c13f3f","width":1.9},{"label":"Envelope 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Market Dynamics construction and private inputs are not disclosed. Historical research is not a forecast or instruction to trade."}