{"schema_version":"1.0","name":"FDRX Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"c19f4278-8d2f-4bf6-9175-a5a56fa765a4","symbol":"FDRX","name":"FounderLed 2X Daily ETF","exchange":"NASDAQ","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, Activity pressure and cumulative balance, Range pressure and compression, Acceleration, deceleration and rollover, Range position and boundary pressure, 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":32,"displayedObservations":32,"assetType":"ETF","state":"Aligned upward","stateTone":"positive","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":["2026-07-31","2026-08-07","2026-08-14","2026-08-21"],"values":[-0.041621,-0.030536,-0.022177,-0.018647],"opens":[18.9765,20.4466,23.1,23.2],"highs":[19.1,22.6454,24.45,23.2],"lows":[18.2055,20.4466,22.8,21.8199],"closes":[19.1,22.6454,23.7589,22.6389],"hoverRows":[[{"label":"Open","value":"19.0","className":"is-ohlc","compact":true},{"label":"High","value":"19.1","className":"is-ohlc","compact":true},{"label":"Low","value":"18.2","className":"is-ohlc","compact":true},{"label":"Close","value":"19.1","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":"20.4","className":"is-ohlc","compact":true},{"label":"High","value":"22.6","className":"is-ohlc","compact":true},{"label":"Low","value":"20.4","className":"is-ohlc","compact":true},{"label":"Close","value":"22.6","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":"23.1","className":"is-ohlc","compact":true},{"label":"High","value":"24.4","className":"is-ohlc","compact":true},{"label":"Low","value":"22.8","className":"is-ohlc","compact":true},{"label":"Close","value":"23.8","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"Unavailable","note":"Insufficient completed history","className":"is-muted","wide":true},{"label":"Signal / event","value":"Reversal warning","className":"is-caution","wide":true}],[{"label":"Open","value":"23.2","className":"is-ohlc","compact":true},{"label":"High","value":"23.2","className":"is-ohlc","compact":true},{"label":"Low","value":"21.8","className":"is-ohlc","compact":true},{"label":"Close","value":"22.6","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"Unavailable","note":"Insufficient completed history","className":"is-muted","wide":true},{"label":"Signal / event","value":"Reversal danger","className":"is-negative","wide":true}]],"pressureRange":[-2.3,2.3],"priceRange":[18.820466,24.038434],"zones":{"accumulationBoundary":-1.5,"accumulationDarkBoundary":-2.0,"distributionBoundary":1.5,"distributionDarkBoundary":2.0},"state":"Insufficient history","context":{"scenario":"developing","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 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 read.","tone":"neutral"}],"relationshipEvidence":{"available":false,"observations":24,"summary":"More completed weekly history is needed for a dependable ticker-level record."},"events":{"positioning_recoveries":[],"reversal_warnings":[{"date":"2026-08-14","price":23.7589}],"reversal_dangers":[{"date":"2026-08-21","price":22.6389}]}},"smTape":{"available":true,"dates":["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":[24.6858,24.074,22.6879,19.7815,19.3814,19.5047,18.7129,19.4016,18.2975,17.3726,15.5805,16.9178,16.8498,21.199,20.7369,20.4038,21.5953,21.4678,21.9563,24.9309,21.8665,21.1475,21.8148,19.3808,21.079,22.2038,20.5547,18.5539,19.1,22.6454,23.7589,22.6389],"consensus":[-100.0,39.88,-100.0,-19.449,-73.2019,-37.0267,-49.2722,-11.8049,-66.3086,-71.1159,-82.2392,0.0,-47.0539,65.8166,13.8849,15.7664,55.1088,13.7964,45.5871,73.4869,-18.3714,-9.7598,15.3839,-58.85,18.3084,32.2145,-33.3783,-50.1332,-8.3426,58.1416,54.1576,9.7309],"supportDates":["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,-23.4817,-43.225,-4.4143,-74.2759,-76.9158,-85.0105,0.0,-47.7955,56.5573,0.9484,7.4507,58.8352,8.3542,49.367,82.5862,-32.7205,-14.6428,7.825,-55.7105,15.4179,34.9888,-39.6869,-62.164,-5.1245,62.8658,45.5332,4.5616],"force":[-100.0,39.88,-100.0,-19.449,-36.2613,-0.2825,-16.6712,-34.4776,-51.5794,-54.8809,-79.7868,0.0,-21.2003,84.1922,18.5754,10.5067,48.8415,8.6962,34.251,63.5508,-55.1614,-20.7292,27.7615,-89.9708,53.0314,30.2275,-44.324,-49.4337,-12.9947,87.9313,69.3363,27.709],"direction":[null,null,null,null,-99.5881,-78.7525,-79.4696,-53.3104,-67.7238,-76.0839,-80.8238,0.0,-64.6734,63.2732,54.0232,44.0365,55.3266,36.0821,49.3643,70.1848,-24.306,-3.6562,15.1815,-40.2087,3.1903,30.4633,-18.3502,-36.8833,-38.9744,31.464,53.172,42.3813],"intensity":[null,null,null,null,50.0,60.0,16.6667,14.2857,37.5,22.2222,90.0,45.4545,75.0,92.3077,85.7143,13.3333,37.5,11.7647,5.5556,89.4737,90.0,90.4762,40.9091,78.2609,66.6667,32.0,61.5385,74.0741,64.2857,89.6552,73.3333,32.2581],"confirmation":[54.6667,35.4283,54.6667,28.8903,67.0692,56.2684,82.8657,9.8349,88.6484,90.1739,94.1996,37.0986,82.258,89.7624,7.845,6.6127,85.387,28.3341,82.1848,91.0743,34.6334,49.4963,50.7486,87.8283,52.9749,78.2058,78.9185,83.838,6.09,87.4412,85.9244,7.9629],"persistence":[null,null,33.3333,50.0,60.0,66.6667,71.4286,75.0,75.0,100.0,100.0,87.5,87.5,62.5,37.5,12.5,12.5,37.5,62.5,75.0,75.0,50.0,50.0,25.0,25.0,25.0,0.0,25.0,25.0,0.0,0.0,25.0],"assessmentRisk":[null,null,null,null,13.397,31.4696,25.3373,11.1241,6.4077,13.3222,8.7443,45.0942,20.071,16.0266,42.8367,40.6548,22.2765,2.0749,11.0048,12.8772,16.3629,3.6527,11.5474,20.2893,28.6441,8.9115,15.9354,2.4586,36.8802,17.8939,19.2584,43.5232],"volumeParticipation":true,"latest":{"consensus":9.7,"control":4.6,"force":27.7,"direction":42.4,"confirmation":8.0,"persistence":25.0,"assessmentRisk":43.5,"intensity":32.3,"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 upward price structure.","take":"Current assessment: follow price structure with limited confirmation.","tone":"positive","supportedView":"Price structure","direction":"upward","disagreement":false},"support":{"window":"Latest 12 months","controlState":"Control support is limited","controlPath":"Control support is easing","forceState":"Upward commitment","forcePath":"Commitment is easing","directionState":"Upward follow-through","persistenceState":"Unsettled","confirmationState":"Limited support","riskState":"Present","intensityState":"Quiet"},"cards":[{"label":"SM Consensus Gauge","value":"+9.7","detail":"Price structure has the available support","tone":"positive"},{"label":"SM Control Gauge","value":"+4.6","detail":"Control support is limited","tone":"positive"},{"label":"SM Force Gauge","value":"+27.7","detail":"Upward commitment","tone":"positive"},{"label":"SM Direction Gauge","value":"+42.4","detail":"Upward follow-through","tone":"positive"},{"label":"SM Confirmation Gauge","value":"8/100","detail":"Limited support","tone":"caution"}]},"kpis":[{"label":"Price structure","value":"Aligned upward","detail":"completed-week alignment","tone":"positive"},{"label":"Momentum","value":"51.3","detail":"Positive","tone":"positive"},{"label":"Risk pressure","value":"8.7%","detail":"Normal","tone":"neutral"},{"label":"Trend quality","value":"11.0","detail":"Range-led","tone":"neutral"},{"label":"Range position","value":"67%","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":[24.6858,24.074,22.6879,19.7815,19.3814,19.5047,18.7129,19.4016,18.2975,17.3726,15.5805,16.9178,16.8498,21.199,20.7369,20.4038,21.5953,21.4678,21.9563,24.9309,21.8665,21.1475,21.8148,19.3808,21.079,22.2038,20.5547,18.5539,19.1,22.6454,23.7589,22.6389],"stroke":"#10243b","width":2.1},{"label":"Fast trend","values":[null,null,null,null,22.6877,22.109,21.4915,21.1115,20.5999,20.0131,19.2072,18.7909,18.438,18.94,19.2667,19.4734,19.8592,20.1517,20.4798,21.2891,21.3941,21.3493,21.4339,21.0606,21.064,21.2712,21.1409,20.6706,20.385,20.796,21.3347,21.5718],"stroke":"#176fa3","width":1.7},{"label":"Slow trend","values":[null,null,null,null,null,null,null,null,null,null,null,null,20.9653,20.9826,20.9644,20.9229,20.9727,21.0094,21.0795,21.3648,21.402,21.3831,21.4151,21.2644,21.2507,21.3213,21.2645,21.0637,20.9183,21.0462,21.2471,21.3502],"stroke":"#07865c","width":1.8},{"label":"Upper envelope","values":[null,null,null,null,null,null,null,null,null,25.1545,25.271,25.0609,24.8506,24.8532,24.7822,24.6779,24.72,24.7317,24.7976,25.3892,24.8976,24.4271,24.2926,24.2791,24.3844,24.6141,24.6599,24.6648,24.6501,24.8273,24.826,24.7208],"stroke":"#98a9b8","width":1.0,"dash":[6,5]},{"label":"Lower envelope","values":[null,null,null,null,null,null,null,null,null,15.6255,14.6346,14.3388,14.1106,14.3535,14.5757,14.7706,14.9486,15.1184,15.2663,15.1646,15.3742,15.5522,15.5993,15.5727,15.6372,15.6774,15.8158,15.7261,15.8211,16.1712,16.9903,17.6676],"stroke":"#98a9b8","width":1.0,"dash":[6,5]}],"guides":[],"dates":["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"]},{"key":"participation","eyebrow":"Participation","title":"Activity pressure and cumulative 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,17.6688,9.3306,9.6969,18.409,24.5985,10.5919,20.327,31.8866,787.7014,4.4065,4.3955,0.2448,0.4593,5.048,3.5034,96.1921,437.367,167.8108,4.0382,0.528,0.1095,1.4389,301.5838,408.2835,7.6],"stroke":"#1678a7","width":1.8},{"label":"Cumulative balance","values":[null,null,null,null,null,null,null,67.6866,67.2683,66.8733,66.1799,67.047,66.6995,67.3279,66.3879,65.0,65.1036,65.0058,65.0109,65.0201,65.0,65.0,66.8974,65.0,67.5999,67.6607,67.6528,67.6512,67.6724,72.8682,81.6363,81.4737],"stroke":"#07865c","width":1.7}],"guides":[{"label":"Typical activity","values":[100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0],"stroke":"#8fa0af","width":1.0,"dash":[6,5]}],"dates":["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"]},{"key":"volatility","eyebrow":"Risk geometry","title":"Range pressure and compression","description":"Movement pressure and envelope width show whether risk is 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,8.0392,8.1241,8.1711,7.5686,7.4143,7.1712,6.7167,8.5266,8.8927,8.451,9.8345,9.3618,8.7034,9.3032,10.423,9.7363,8.7437,8.2811,8.6818],"stroke":"#c13f3f","width":1.9},{"label":"Envelope width","values":[null,null,null,null,null,null,null,null,null,46.7333,53.3078,54.4271,55.1317,53.5604,51.8649,50.2289,49.2654,48.2476,47.5801,50.4247,47.2954,44.3976,43.5844,43.6939,43.7122,44.36,43.7012,44.2608,43.6313,42.2266,37.4768,33.2788],"stroke":"#b87806","width":1.7}],"guides":[],"dates":["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"]},{"key":"impulse","eyebrow":"Price impulse","title":"Acceleration, deceleration and rollover","description":"The impulse path separates directional acceleration from a loss of momentum.","reason":"Selected because the latest impulse is unusually active or is approaching a change of 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