{"schema_version":"1.0","name":"CTAP Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"c474f7cc-c534-4d67-b340-7d896f3d4580","symbol":"CTAP","name":"SIMPLIFY US EQUITY PLUS MANAGED FUTURES STRATEGY ETF","exchange":"NYSEARCA","country":"US","asset_type":"etf","currency":"USD","sector":null,"industry":null},"summary":"Market Dynamics weakened this week and remains below zero. The broader path has not changed enough to establish a new direction. 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, Directional strength and control, Drawdown and recovery pressure, Range position and boundary pressure, 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":37,"displayedObservations":37,"assetType":"ETF","state":"Aligned upward","stateTone":"positive","summary":"Market Dynamics weakened this week and remains below zero. The broader path has not changed enough to establish a new direction. Price remains elevated in the distribution zone.","evidenceAlignment":{"status":"Material conflict","headline":"Upward price structure is not confirmed by Market Dynamics","summary":"Market Dynamics weakened this week and remains below zero. The broader path has not changed enough to establish a new direction. 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":["2026-06-26","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":[-0.457455,-0.674989,-0.795874,-0.811023,-0.712835,-0.702642,-0.69476,-0.661046,-0.683859],"opens":[27.376054,25.97,26.04,26.56,27.48,28.06,26.72,27.66,28.66],"highs":[27.474921,26.46,26.79,28.2,28.89,28.06,27.2204,28.48,29.78],"lows":[25.51,25.9,26.04,26.56,27.48,26.2597,26.27,27.66,28.62],"closes":[25.51,26.13,26.56,27.338,28.06,27.37,26.9866,28.45,29.5193],"hoverRows":[[{"label":"Open","value":"27.4","className":"is-ohlc","compact":true},{"label":"High","value":"27.5","className":"is-ohlc","compact":true},{"label":"Low","value":"25.5","className":"is-ohlc","compact":true},{"label":"Close","value":"25.5","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.46","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":"26.5","className":"is-ohlc","compact":true},{"label":"Low","value":"25.9","className":"is-ohlc","compact":true},{"label":"Close","value":"26.1","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.67","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":"26.8","className":"is-ohlc","compact":true},{"label":"Low","value":"26.0","className":"is-ohlc","compact":true},{"label":"Close","value":"26.6","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.80","note":"Cautious and weakening","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"26.6","className":"is-ohlc","compact":true},{"label":"High","value":"28.2","className":"is-ohlc","compact":true},{"label":"Low","value":"26.6","className":"is-ohlc","compact":true},{"label":"Close","value":"27.3","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.81","note":"Cautious and weakening","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"27.5","className":"is-ohlc","compact":true},{"label":"High","value":"28.9","className":"is-ohlc","compact":true},{"label":"Low","value":"27.5","className":"is-ohlc","compact":true},{"label":"Close","value":"28.1","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.71","note":"Cautious but repairing","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"28.1","className":"is-ohlc","compact":true},{"label":"High","value":"28.1","className":"is-ohlc","compact":true},{"label":"Low","value":"26.3","className":"is-ohlc","compact":true},{"label":"Close","value":"27.4","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.70","note":"Cautious but repairing","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"26.7","className":"is-ohlc","compact":true},{"label":"High","value":"27.2","className":"is-ohlc","compact":true},{"label":"Low","value":"26.3","className":"is-ohlc","compact":true},{"label":"Close","value":"27.0","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.69","note":"Cautious but repairing","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"27.7","className":"is-ohlc","compact":true},{"label":"High","value":"28.5","className":"is-ohlc","compact":true},{"label":"Low","value":"27.7","className":"is-ohlc","compact":true},{"label":"Close","value":"28.4","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.66","note":"Cautious but repairing","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"28.7","className":"is-ohlc","compact":true},{"label":"High","value":"29.8","className":"is-ohlc","compact":true},{"label":"Low","value":"28.6","className":"is-ohlc","compact":true},{"label":"Close","value":"29.5","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.68","note":"Cautious and weakening","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}]],"pressureRange":[-2.3,2.3],"priceRange":[25.269442,29.759858],"zones":{"accumulationBoundary":-1.5,"accumulationDarkBoundary":-2.0,"distributionBoundary":1.5,"distributionDarkBoundary":2.0},"latest":-0.683859,"state":"Price ahead of Market Dynamics","context":{"scenario":"priceAhead","latestDirection":"slight easing","fourWeekDirection":"steady","now":{"label":"Slightly easier this week","detail":"Market Dynamics weakened this week and 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":"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 weakened this week and 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 remains materially behind the elevated price.","tone":"negative"}],"relationshipEvidence":{"available":false,"observations":25,"summary":"More completed weekly history is needed for a dependable ticker-level record."},"events":{"positioning_recoveries":[],"reversal_warnings":[],"reversal_dangers":[]}},"smTape":{"available":true,"dates":["2025-12-12","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":[24.8321,25.2833,26.131,25.3419,26.4363,25.9955,26.3445,26.3767,26.639,26.7538,27.8718,28.3118,27.8553,27.3988,26.724,26.13,27.5724,27.15,27.565,29.2603,31.2467,30.6601,32.0228,31.0737,29.6994,28.9777,28.3944,27.5441,25.51,26.13,26.56,27.338,28.06,27.37,26.9866,28.45,29.5193],"consensus":[-39.5945,85.3565,88.4309,-49.8873,73.4881,10.116,43.0563,20.743,43.1079,24.3411,67.46,54.7559,17.2075,0.0,-34.6072,-31.6991,40.9168,-13.4068,15.5045,63.0303,62.1715,15.6315,67.142,0.0,-22.8409,-30.4264,-33.6164,-41.7849,-69.9507,-25.5462,-14.6119,0.0,26.6034,-15.9932,0.0,39.7529,-45.2086],"supportDates":["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,6.9112,50.0008,5.0647,48.2909,10.9978,56.712,43.8782,13.4974,0.0,-29.8204,-19.9223,51.0259,-9.0776,3.3528,59.0852,57.4457,6.4526,65.6118,0.0,-19.043,-27.2957,-30.7536,-40.0805,-73.8784,-21.4424,-4.3918,0.0,15.39,-16.753,0.0,48.3038,-50.8992],"force":[-39.5945,85.3565,88.4309,-49.8873,46.5977,16.4762,32.0137,0.1906,37.8007,11.2172,82.2715,49.3044,33.8653,0.0,-59.0367,-30.7774,64.0651,-41.872,24.8433,85.6423,72.623,24.4374,78.2642,0.0,-59.3291,-54.4669,-40.2181,-41.2989,-77.9212,-8.6864,-13.6623,0.0,56.1668,-37.7367,0.0,49.2406,-43.2118],"direction":[null,null,null,null,92.6956,48.5702,43.0074,53.3412,40.9754,48.9647,69.1637,71.0814,57.9281,0.0,-22.6283,-45.8167,12.8291,-1.9779,22.7215,51.3877,60.1071,54.7424,60.9464,0.0,-1.1183,-16.8326,-32.1728,-44.08,-59.7687,-54.6881,-46.488,0.0,18.3019,-0.4061,0.0,23.2035,-40.1315],"intensity":[null,null,null,null,100.0,20.0,50.0,100.0,87.5,100.0,70.0,36.3636,33.3333,23.0769,35.7143,93.3333,81.25,5.8824,100.0,84.2105,100.0,28.5714,68.1818,52.1739,83.3333,40.0,61.5385,62.963,89.2857,48.2759,6.6667,70.9677,43.75,63.6364,38.2353,77.1429,66.6667],"confirmation":[35.3369,49.9808,50.9646,38.6306,67.6202,7.6755,81.3357,28.917,81.5538,75.5925,90.2024,85.5215,33.8977,7.68,79.8918,78.2951,81.6448,50.9789,50.7645,88.919,88.2854,9.1341,89.8477,9.4492,53.8123,78.5168,79.0021,81.3823,90.5673,31.7138,6.8845,5.7098,77.5849,51.1889,24.8307,80.8798,44.64],"persistence":[null,null,33.3333,0.0,20.0,33.3333,42.8571,50.0,75.0,75.0,75.0,100.0,100.0,87.5,62.5,37.5,37.5,12.5,12.5,12.5,12.5,25.0,50.0,62.5,37.5,37.5,12.5,12.5,37.5,62.5,87.5,87.5,62.5,62.5,50.0,25.0,0.0],"assessmentRisk":[null,null,null,null,12.077,32.4945,6.0732,36.1427,4.8381,31.8373,15.7145,22.519,39.9143,38.7105,30.2052,34.0693,40.2094,11.8725,35.8397,18.4599,18.8895,42.1352,16.4197,44.0161,33.1154,30.3235,33.0525,28.9311,14.9096,36.4313,38.3697,10.4047,35.6656,51.1534,24.6702,21.1413,22.2561],"volumeParticipation":true,"latest":{"consensus":-45.2,"control":-50.9,"force":-43.2,"direction":-40.1,"confirmation":44.6,"persistence":0.0,"assessmentRisk":22.3,"intensity":66.7,"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 easing","directionState":"Downward follow-through","persistenceState":"Unsettled","confirmationState":"Qualified support","riskState":"Contained","intensityState":"Normal"},"cards":[{"label":"SM Consensus Gauge","value":"-45.2","detail":"Market Dynamics has stronger support","tone":"negative"},{"label":"SM Control Gauge","value":"-50.9","detail":"Seller control supports the view","tone":"negative"},{"label":"SM Force Gauge","value":"-43.2","detail":"Downward commitment","tone":"negative"},{"label":"SM Direction Gauge","value":"-40.1","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":"59.8","detail":"Positive","tone":"positive"},{"label":"Risk pressure","value":"5.4%","detail":"Contained","tone":"neutral"},{"label":"Trend quality","value":"35.4","detail":"Directional","tone":"positive"},{"label":"Range position","value":"52%","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":[24.8321,25.2833,26.131,25.3419,26.4363,25.9955,26.3445,26.3767,26.639,26.7538,27.8718,28.3118,27.8553,27.3988,26.724,26.13,27.5724,27.15,27.565,29.2603,31.2467,30.6601,32.0228,31.0737,29.6994,28.9777,28.3944,27.5441,25.51,26.13,26.56,27.338,28.06,27.37,26.9866,28.45,29.5193],"stroke":"#10243b","width":2.1},{"label":"Fast trend","values":[null,null,null,null,25.4026,25.5104,25.6621,25.792,25.946,26.0929,26.4163,26.761,26.9599,27.0397,26.9823,26.8274,26.9628,26.9969,27.1002,27.4929,28.1754,28.6272,29.2446,29.5771,29.5994,29.4863,29.2878,28.9708,28.3415,27.9394,27.6886,27.6249,27.704,27.6433,27.5239,27.6923,28.0244],"stroke":"#176fa3","width":1.7},{"label":"Slow trend","values":[null,null,null,null,null,null,null,null,null,null,null,null,26.0399,26.1405,26.1838,26.1798,26.2829,26.3472,26.4374,26.6465,26.9872,27.2593,27.6121,27.8686,28.0042,28.0763,28.0998,28.0587,27.8699,27.741,27.6535,27.6302,27.662,27.6404,27.5919,27.6555,27.7936],"stroke":"#07865c","width":1.8},{"label":"Upper envelope","values":[null,null,null,null,null,null,null,null,null,27.2387,27.7656,28.279,28.4836,28.5342,28.481,28.4045,28.4753,28.4713,28.5205,28.9275,29.822,30.3628,31.2156,31.6239,31.7901,31.8197,31.8088,31.7666,31.8655,31.9028,31.918,31.8929,31.8999,31.8998,31.8928,31.8746,31.9851],"stroke":"#98a9b8","width":1.0,"dash":[6,5]},{"label":"Lower envelope","values":[null,null,null,null,null,null,null,null,null,24.7881,24.5991,24.4406,24.4661,24.5475,24.6251,24.6487,24.701,24.7674,24.8178,24.6699,24.4168,24.4137,24.1501,24.3149,24.4751,24.7436,24.9596,25.1185,24.9067,24.8071,24.6606,24.5884,24.6018,24.599,24.6324,24.8826,24.9667],"stroke":"#98a9b8","width":1.0,"dash":[6,5]}],"guides":[],"dates":["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"]},{"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,268.9544,71.4244,774.1203,98.0469,38.8303,148.5996,47.3677,44.2466,28.3106,35.9652,89.1917,103.9844,66.0029,60.7162,90.7508,104.728,74.5872,75.2421,109.0618,53.0117,44.3057,67.2362,100.3462,84.1142,89.9238,947.6729,142.6247,37.6174,23.5002,27.1917],"stroke":"#1678a7","width":1.8},{"label":"Cumulative balance","values":[null,null,null,null,null,null,null,135.0,135.0,135.0,135.0,135.0,130.1632,128.6814,127.3502,126.5374,127.5303,125.0835,127.9424,129.7252,131.4105,128.7826,131.964,129.6328,127.2656,123.6692,121.8925,120.4264,118.1446,120.3792,122.1926,124.1655,135.0,131.7056,130.8351,131.3797,132.0104],"stroke":"#07865c","width":1.7}],"guides":[{"label":"Typical 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Market Dynamics construction and private inputs are not disclosed. Historical research is not a forecast or instruction to trade."}