{"schema_version":"1.0","name":"SSPX Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"ab2df536-e8eb-4c7e-af94-676b24f60ce6","symbol":"SSPX","name":"BetaPro -3x S&P 500 Daily Leveraged Bear Alternative ETF","exchange":"TOR","country":"CA","asset_type":"etf","currency":"CAD","sector":null,"industry":null},"summary":"Market Dynamics weakened this week and remains below zero. The broader path remains constructive, so one softer week does not by itself establish weakening confirmation. Price structure remains downward.","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, Strength versus the research benchmark, Drawdown and recovery pressure, Range position and boundary pressure, Activity pressure and cumulative balance, Range pressure and compression."},{"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":62,"displayedObservations":62,"assetType":"ETF","state":"Aligned downward","stateTone":"negative","summary":"Market Dynamics weakened this week and remains below zero. The broader path remains constructive, so one softer week does not by itself establish weakening confirmation. Price structure remains downward.","evidenceAlignment":{"status":"Countertrend conflict","headline":"Improving Market Dynamics is challenging the downward price structure","summary":"Market Dynamics weakened this week and remains below zero. The broader path remains constructive, so one softer week does not by itself establish weakening confirmation. Price structure remains downward.","take":"This is an early challenge rather than a confirmed reversal. Price must respond to the improvement before the downward technical state can be considered resolved.","tone":"caution","conflict":true},"marketDynamics":{"available":true,"readAvailable":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"],"values":[0.165946,0.121202,0.039021,0.068805,0.032132,0.186581,0.510006,0.656011,0.78395,1.01249,1.122971,1.277794,1.416553,1.403093,1.221538,0.852363,0.400514,-0.134821,-0.552543,-0.776442,-0.869026,-0.833702,-0.827455,-0.830039,-0.82363,-0.821563,-0.819976,-0.825191,-0.773546,-0.571949,-0.300413,-0.07374,0.024228,-0.000553],"opens":[13.67,13.76,13.31,13.96,13.53,13.46,13.66,14.11,13.92,14.4,15.24,14.98,15.69,17.01,15.69,14.25,12.48,12.27,11.89,11.0,11.35,10.62,10.55,11.05,10.605,11.37,10.63,10.38,10.89,10.59,11.02,10.47,9.52,9.48],"highs":[14.15,13.76,13.81,14.39,13.89,14.47,14.27,14.5,14.26,14.89,15.55,16.549999,17.52,17.860001,16.08,14.31,12.73,12.42,12.14,11.28,11.355,10.62,11.17,11.19,10.605,11.48,10.63,10.4,10.89,11.11,11.41,10.47,9.72,10.02],"lows":[13.66,13.3,13.3,13.55,13.18,13.26,13.29,13.73,13.49,13.79,14.24,14.7,15.33,15.54,13.98,12.28,12.19,11.68,11.06,10.565,10.63,10.29,10.55,10.84,10.57,11.07,10.6,10.29,10.64,10.57,10.57,9.43,9.4,9.48],"closes":[14.04,13.3,13.51,13.67,13.56,13.55,14.25,13.76,14.1,14.79,15.5,16.379999,17.469999,15.85,14.17,12.39,12.2,11.8,11.08,11.03,10.69,10.3,11.07,10.89,10.585,11.29,10.6,10.29,10.76,11.01,10.63,9.59,9.49,9.86],"hoverRows":[[{"label":"Open","value":"13.7","className":"is-ohlc","compact":true},{"label":"High","value":"14.2","className":"is-ohlc","compact":true},{"label":"Low","value":"13.7","className":"is-ohlc","compact":true},{"label":"Close","value":"14.0","className":"is-ohlc","compact":true},{"label":"Market 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elevated relative to Market Dynamics","kind":"structuralDivergence","expectedDirection":"lower","episodes":0,"completedEpisodes":0,"activeEpisodes":0,"horizons":[{"weeks":4,"sample":0,"expectedCount":0,"confidence":"Not enough evidence"},{"weeks":12,"sample":0,"expectedCount":0,"confidence":"Not enough evidence"},{"weeks":26,"sample":0,"expectedCount":0,"confidence":"Not enough 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A positive price response is needed to confirm the repair.","confirm":"This is an early challenge rather than a confirmed reversal. Price must respond to the improvement before the downward technical state can be considered resolved.","invalidate":"Reassess the reading when either price structure or the Market Dynamics state changes materially.","level":"negative","direction":"weakening","zone":"accumulation","zoneContext":"Price is within accumulation conditions, but the completed tape has not yet confirmed a recovery. The zone is a watch area rather than a directional signal.","historical":{"label":"Broad directional cases","weeks":12,"sample":0},"nowContext":{"label":"Easier this week","detail":"Market Dynamics weakened this week and remains below zero."},"fourWeekContext":{"label":"Strengthened over four weeks","detail":"The broader path remains constructive, so one softer week does not by itself establish weakening confirmation."},"priceContext":{"label":"Price remains in a downward structure","detail":"Improving Market Dynamics has not yet produced a positive price response."}},"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":"Disagreement playbook","title":"Use improving Market Dynamics to prepare, not anticipate","tone":"recovery","finding":"Comparable disagreements produced an average recovery of 20.7% across 2 completed cases, with the largest move arriving after 4.5 weeks on average.","approach":"Define the price level that would confirm the repair. Until that response occurs, keep the idea at watchlist or starter-position size.","watch":"The early repair fails if Market Dynamics fades before price responds."}]},"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":["2025-06-20","2025-06-27","2025-07-04","2025-07-11","2025-07-18","2025-07-25","2025-08-01","2025-08-08","2025-08-15","2025-08-22","2025-08-29","2025-09-05","2025-09-12","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":[20.72,18.72,18.62,17.97,17.65,16.99,18.34,17.44,16.54,16.47,16.6,16.45,15.62,15.15,15.31,14.85,15.93,15.19,14.27,14.0,14.9,14.65,15.57,13.94,13.78,14.14,14.14,13.54,14.04,13.3,13.51,13.67,13.56,13.55,14.25,13.76,14.1,14.79,15.5,16.38,17.47,15.85,14.17,12.39,12.2,11.8,11.08,11.03,10.69,10.3,11.07,10.89,10.585,11.29,10.6,10.29,10.76,11.01,10.63,9.59,9.49,9.86],"consensus":[18.2794,-98.1397,95.2386,-58.0,-71.4736,-67.3834,0.0,-44.5637,-67.1458,-45.9088,-27.5915,-45.1835,-66.5973,-64.1544,-33.7312,-58.799,27.5197,-46.5207,-64.9191,-31.3039,0.0,-21.8265,37.9612,-53.1044,-46.3314,0.0,-25.5234,-55.2027,16.5437,-56.9059,-15.3337,-11.109,-18.1667,-9.0916,37.4886,-23.6729,23.1465,51.045,60.4324,70.6059,73.6276,-12.7019,-52.435,-70.7627,-50.9466,-52.1704,-65.8133,-33.2653,-57.2821,-63.0835,0.0,-36.8777,-32.423,9.0569,-47.8171,-47.3287,0.0,0.0,-32.5139,-65.143,-40.0696,-10.1664],"supportDates":["2025-08-29","2025-09-05","2025-09-12","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":[-12.5556,-42.0084,-75.1966,-67.6153,-25.8478,-54.3536,26.2578,-44.4181,-71.4495,-25.1403,0.0,-17.4401,27.1635,-65.9412,-54.786,0.0,-23.3164,-61.4721,9.1026,-64.9716,-16.4317,-21.945,-16.5195,-14.6202,36.139,-32.7937,19.5553,43.5248,52.0486,63.5773,72.5996,-23.5098,-48.4831,-71.3093,-57.6115,-57.2477,-71.3311,-26.6588,-62.459,-64.6328,0.0,-46.9893,-38.9812,0.4957,-61.9785,-58.2887,0.0,0.0,-40.1063,-67.8674,-42.5795,-1.3049],"force":[-5.5262,-26.3666,-51.0873,-45.4275,-4.0053,-45.4112,86.5412,-75.9231,-73.0449,-13.5776,0.0,-13.8793,78.4598,-65.3623,-35.076,0.0,-14.0975,-73.3456,64.7744,-65.27,-11.8705,-7.2868,-11.2753,-2.7001,56.3801,-39.4107,34.0449,70.1721,79.4978,89.533,80.9028,-72.8939,-90.6472,-94.4798,-33.2689,-34.4777,-61.296,-7.3446,-43.3633,-60.6702,0.0,-18.5599,-12.3603,42.7113,-35.849,-32.9751,0.0,0.0,-40.6391,-85.8605,-18.8707,-22.8063],"direction":[-68.4308,-62.2527,-67.8483,-73.5754,-69.6954,-73.4422,13.1964,-27.922,-51.6516,-51.0097,0.0,-32.5163,21.3738,-29.6782,-44.7087,0.0,-36.2072,-35.0784,9.4028,-41.7135,-33.5104,-11.8648,-24.9716,-7.3387,25.537,-2.0079,19.4662,45.9774,56.3957,65.1191,69.6059,-42.6443,-29.6571,-53.1973,-55.9565,-59.0055,-62.7339,-59.3303,-61.3077,-63.0367,0.0,-38.4056,-39.2583,4.0648,-40.1814,-45.0556,0.0,0.0,-18.0333,-47.2313,-52.3433,-43.8457],"intensity":[50.0,27.2727,58.3333,53.8462,7.1429,26.6667,81.25,82.3529,94.4444,73.6842,75.0,9.5238,63.6364,86.9565,62.5,20.0,30.7692,62.963,25.0,48.2759,3.3333,35.4839,28.125,39.3939,47.0588,22.8571,13.8889,48.6486,55.2632,74.359,82.5,90.2439,92.8571,90.6977,84.0909,26.6667,50.0,55.3191,12.5,51.0204,56.0,7.8431,36.5385,61.5385,59.6154,9.6154,23.0769,7.6923,21.1538,84.6154,59.6154,19.2308],"confirmation":[54.5613,81.9336,88.7074,87.9059,55.9518,86.4754,36.1062,83.8147,88.9222,77.5709,32.3636,74.8091,81.5464,85.1714,82.3542,7.5463,75.8529,86.1223,31.5499,86.3419,29.26,49.717,73.6284,25.297,80.5927,53.2493,75.7938,85.0319,88.0472,91.2778,91.7982,37.4984,86.004,91.3585,83.6626,84.078,88.8385,55.2889,85.8272,88.0896,8.691,79.0885,77.664,27.709,82.721,82.5407,27.1239,28.1322,78.5364,89.4356,80.138,15.2487],"persistence":[87.5,87.5,87.5,87.5,100.0,100.0,75.0,75.0,75.0,75.0,62.5,62.5,37.5,37.5,62.5,50.0,50.0,50.0,37.5,37.5,62.5,62.5,62.5,75.0,50.0,50.0,50.0,25.0,0.0,25.0,50.0,50.0,25.0,25.0,0.0,25.0,50.0,75.0,100.0,100.0,87.5,87.5,87.5,62.5,62.5,62.5,50.0,37.5,50.0,50.0,50.0,75.0],"assessmentRisk":[34.7835,19.95,8.4812,15.2701,31.9047,20.1677,7.5656,26.1261,12.3922,29.8964,47.8611,25.5194,29.2312,22.6454,21.7326,29.2995,35.0727,3.4547,7.9818,12.8694,28.0369,15.1619,21.8052,23.9931,22.1561,19.4013,31.5302,24.0833,19.2732,14.6932,13.186,51.298,19.6809,14.5909,24.5247,23.8901,16.9036,27.9043,17.3371,14.5385,0.3228,10.7314,9.9084,38.1857,5.0861,14.187,21.1505,28.9587,19.4293,11.3574,29.2773,43.7108],"volumeParticipation":true,"latest":{"consensus":-10.2,"control":-1.3,"force":-22.8,"direction":-43.8,"confirmation":15.2,"persistence":75.0,"assessmentRisk":43.7,"intensity":19.2,"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":"Broadly stable","forceState":"Downward commitment","forcePath":"Commitment is strengthening","directionState":"Downward follow-through","persistenceState":"Established","confirmationState":"Limited support","riskState":"Present","intensityState":"Quiet"},"cards":[{"label":"SM Consensus Gauge","value":"-10.2","detail":"Joint downward confirmation","tone":"negative"},{"label":"SM Control Gauge","value":"-1.3","detail":"Control support is limited","tone":"negative"},{"label":"SM Force Gauge","value":"-22.8","detail":"Downward commitment","tone":"negative"},{"label":"SM Direction Gauge","value":"-43.8","detail":"Downward 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tape.","series":[{"label":"Drawdown","values":[0.0,-9.6525,-10.1351,-13.2722,-14.8166,-18.0019,-11.4865,-15.8301,-20.1737,-20.5116,-19.8842,-20.6081,-24.6139,-26.8822,-26.11,-28.3301,-23.1178,-26.6892,-31.1293,-32.4324,-28.0888,-29.2954,-24.8552,-32.722,-33.4942,-31.7568,-31.7568,-34.6525,-32.2394,-35.8108,-34.7973,-34.0251,-34.556,-34.6042,-31.2259,-33.5907,-31.9498,-28.6197,-25.193,-20.9459,-15.6853,-23.5039,-31.612,-40.2027,-41.1197,-43.0502,-46.5251,-46.7664,-48.4073,-50.2896,-46.5734,-47.4421,-48.9141,-45.5116,-48.8417,-50.3378,-48.0695,-46.8629,-48.6969,-53.7162,-54.1988,-52.4131],"stroke":"#c13f3f","width":1.9,"fill":"rgba(193,63,63,.10)"},{"label":"Recovery","values":[null,null,null,null,null,null,null,2.6486,0.0,0.0,0.7893,0.0,0.0,0.0,1.0561,0.0,7.2727,2.2896,0.0,0.0,6.4286,4.6429,11.2143,0.0,0.0,2.6125,2.6125,0.0,3.6928,0.0,1.5789,2.782,1.9549,1.8797,7.1429,3.4586,6.015,11.203,16.5414,23.1579,31.3534,19.1729,6.5414,0.0,0.0,0.0,0.0,0.0,0.0,0.0,7.4757,5.7282,2.767,9.6117,2.9126,0.0,4.5675,6.9971,3.3042,0.0,0.0,3.8988],"stroke":"#07865c","width":1.7}],"guides":[{"label":"Prior 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