{"schema_version":"1.0","name":"HELS Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"c5a159bd-8a61-40c7-af88-437ece61bbd5","symbol":"HELS","name":"HEDGEYE 130/30 EQUITY ETF","exchange":"NYSEARCA","country":"US","asset_type":"etf","currency":"USD","sector":null,"industry":null},"summary":"Market Dynamics eased this week but remains positive. Underlying support has contracted across the recent completed path. 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, Range pressure and compression, Activity pressure and cumulative balance, Directional strength and control, Drawdown and recovery pressure, Acceleration, deceleration and rollover."},{"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 downward","stateTone":"negative","summary":"Market Dynamics eased this week but remains positive. Underlying support has contracted across the recent completed path. Price structure remains downward.","evidenceAlignment":{"status":"Countertrend conflict","headline":"Improving Market Dynamics is challenging the downward price structure","summary":"Market Dynamics eased this week but remains positive. Underlying support has contracted across the recent completed path. 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":["2026-06-26","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":[0.407772,0.537697,0.515948,0.515678,0.48501,0.429208,0.388257,0.323863,0.246251],"opens":[24.495,24.915,24.25,24.16,24.58,24.385,24.22,24.35,24.29],"highs":[24.8799,25.14,24.7327,24.8595,24.655,24.75,24.3899,24.5805,24.4118],"lows":[24.1505,24.58,24.1528,24.16,24.17,24.03,24.04,24.27,23.975],"closes":[24.8494,24.697,24.4406,24.5221,24.27,24.155,24.3,24.37,24.1909],"hoverRows":[[{"label":"Open","value":"24.5","className":"is-ohlc","compact":true},{"label":"High","value":"24.9","className":"is-ohlc","compact":true},{"label":"Low","value":"24.2","className":"is-ohlc","compact":true},{"label":"Close","value":"24.8","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.41","note":"Supportive and strengthening","className":"is-positive","wide":true},{"label":"Signal / event","value":"Reversal warning","className":"is-caution","wide":true}],[{"label":"Open","value":"24.9","className":"is-ohlc","compact":true},{"label":"High","value":"25.1","className":"is-ohlc","compact":true},{"label":"Low","value":"24.6","className":"is-ohlc","compact":true},{"label":"Close","value":"24.7","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.54","note":"Supportive and strengthening","className":"is-positive","wide":true},{"label":"Signal / event","value":"Reversal danger","className":"is-negative","wide":true}],[{"label":"Open","value":"24.2","className":"is-ohlc","compact":true},{"label":"High","value":"24.7","className":"is-ohlc","compact":true},{"label":"Low","value":"24.2","className":"is-ohlc","compact":true},{"label":"Close","value":"24.4","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.52","note":"Supportive but easing","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"24.2","className":"is-ohlc","compact":true},{"label":"High","value":"24.9","className":"is-ohlc","compact":true},{"label":"Low","value":"24.2","className":"is-ohlc","compact":true},{"label":"Close","value":"24.5","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.52","note":"Supportive but easing","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"24.6","className":"is-ohlc","compact":true},{"label":"High","value":"24.7","className":"is-ohlc","compact":true},{"label":"Low","value":"24.2","className":"is-ohlc","compact":true},{"label":"Close","value":"24.3","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.49","note":"Supportive but easing","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"24.4","className":"is-ohlc","compact":true},{"label":"High","value":"24.8","className":"is-ohlc","compact":true},{"label":"Low","value":"24.0","className":"is-ohlc","compact":true},{"label":"Close","value":"24.2","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.43","note":"Supportive but easing","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"24.2","className":"is-ohlc","compact":true},{"label":"High","value":"24.4","className":"is-ohlc","compact":true},{"label":"Low","value":"24.0","className":"is-ohlc","compact":true},{"label":"Close","value":"24.3","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.39","note":"Supportive but easing","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"24.4","className":"is-ohlc","compact":true},{"label":"High","value":"24.6","className":"is-ohlc","compact":true},{"label":"Low","value":"24.3","className":"is-ohlc","compact":true},{"label":"Close","value":"24.4","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.32","note":"Supportive but easing","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"24.3","className":"is-ohlc","compact":true},{"label":"High","value":"24.4","className":"is-ohlc","compact":true},{"label":"Low","value":"24.0","className":"is-ohlc","compact":true},{"label":"Close","value":"24.2","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.25","note":"Supportive but easing","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}]],"pressureRange":[-2.3,2.3],"priceRange":[24.113336,24.891064],"zones":{"accumulationBoundary":-1.5,"accumulationDarkBoundary":-2.0,"distributionBoundary":1.5,"distributionDarkBoundary":2.0},"latest":0.246251,"state":"Positive but weakening over four weeks","context":{"scenario":"positiveWeakening","latestDirection":"easing","fourWeekDirection":"weakening","now":{"label":"Easier this week","detail":"Market Dynamics eased this week but remains positive."},"fourWeek":{"label":"Weakened over four weeks","detail":"Underlying support has contracted across the recent completed path."},"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":"Accumulation pressure","detail":"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.","tone":"negative"},"chartSummary":"Price is in the accumulation zone. The Market Dynamics bars show whether underlying conditions are repairing or continuing to weaken.","summary":"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.","annotations":[{"label":"Current tape relationship","value":"Accumulation pressure","detail":"Market Dynamics eased this week but remains positive.","tone":"negative"},{"label":"Price location","value":"Accumulation zone","detail":"Price is being tested for a confirmed recovery through the lower zone.","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":"Weakening","detail":"Underlying support has contracted across the recent completed path.","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":[{"date":"2026-06-26","price":24.8494}],"reversal_dangers":[{"date":"2026-07-03","price":24.697}]}},"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":[24.8114,24.8254,25.1054,24.92,25.39,25.5453,25.54,25.5194,25.76,25.76,25.88,25.87,24.03,23.73,23.18,23.77,23.76,23.3503,22.62,23.111,23.5711,24.1147,24.405,24.2036,24.095,23.9618,24.38,24.2679,24.8494,24.697,24.4406,24.5221,24.27,24.155,24.3,24.37,24.1909],"consensus":[-74.8127,9.201,15.3844,15.8182,39.0939,30.7088,18.1421,0.0,27.785,14.3398,26.6219,15.3108,-71.3303,-52.4775,-64.0554,-14.7478,-21.5843,-42.9307,-55.142,0.0,8.5557,27.468,25.7184,11.5704,0.0,-12.4713,24.1177,0.0,45.0505,8.6465,0.0,14.8078,-20.6466,-18.9848,0.0,0.0,-12.3636],"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,29.2893,13.0209,0.0,23.1476,11.7824,27.302,11.6233,-60.7834,-50.419,-64.1308,-2.8022,-21.1945,-51.1215,-62.5682,0.0,18.2782,26.2565,20.6738,4.2245,0.0,-14.6364,29.2574,0.0,48.0231,1.9883,0.0,13.8162,-21.3063,-18.6141,0.0,0.0,-11.5934],"force":[-74.8127,9.201,15.3844,15.8182,25.6931,18.0335,6.902,0.0,28.849,2.7483,19.5948,2.9035,-96.3456,-33.9137,-52.2784,-19.7816,-4.0638,-30.736,-47.3635,0.0,35.1695,42.8313,22.9031,5.4886,0.0,-19.4586,31.2768,0.0,48.2156,9.4508,0.0,13.0637,-31.5949,-23.3941,0.0,0.0,-22.3953],"direction":[null,null,null,null,48.6659,41.3849,32.0235,0.0,32.3249,25.5421,30.8639,28.3876,-65.5159,-68.09,-72.3812,-59.4688,-34.5445,-42.2802,-52.2111,0.0,21.5654,17.8787,33.4947,24.3098,0.0,-5.006,13.1301,0.0,39.3925,33.7271,0.0,17.1869,-12.0724,-16.2589,0.0,0.0,-6.0783],"intensity":[null,null,null,null,75.0,20.0,83.3333,28.5714,75.0,44.4444,20.0,9.0909,100.0,92.3077,78.5714,80.0,31.25,35.2941,88.8889,57.8947,50.0,90.4762,63.6364,26.087,20.8333,32.0,57.6923,3.7037,85.7143,37.931,36.6667,6.4516,15.625,9.0909,32.3529,17.1429,25.0],"confirmation":[46.6067,25.611,27.5897,27.7285,57.2308,77.4622,50.8743,4.7756,76.9943,49.6078,76.2945,49.9109,91.7488,84.2584,88.1376,8.7523,51.7123,81.2413,85.2952,31.1589,30.6681,77.2764,76.221,26.2958,27.1953,49.5041,75.8575,24.1299,82.4673,4.8177,24.465,72.7005,74.9305,74.2152,48.3135,0.157,35.7171],"persistence":[null,null,33.3333,50.0,60.0,66.6667,71.4286,62.5,87.5,87.5,87.5,87.5,62.5,37.5,12.5,0.0,25.0,50.0,75.0,87.5,62.5,37.5,12.5,12.5,25.0,25.0,50.0,50.0,50.0,50.0,37.5,37.5,25.0,25.0,12.5,12.5,12.5],"assessmentRisk":[null,null,null,null,29.4842,34.4855,39.3007,46.0095,33.9134,33.6384,34.548,40.6405,14.1275,23.7056,17.9664,42.5564,11.0069,8.0622,10.0893,37.001,18.9697,27.764,36.7223,40.8718,35.5568,11.028,14.9666,5.7624,25.3056,43.196,6.3657,26.3831,37.3734,38.0722,28.618,27.2384,9.3744],"volumeParticipation":true,"latest":{"consensus":-12.4,"control":-11.6,"force":-22.4,"direction":-6.1,"confirmation":35.7,"persistence":12.5,"assessmentRisk":9.4,"intensity":25.0,"evidenceDepth":100},"analysis":{"status":"Price structure has stronger support","headline":"The gauges support the price-technical view","summary":"Price structure and Market Dynamics disagree. The completed evidence gives the downward price structure stronger support.","take":"Current assessment: price structure remains primary, but the disagreement lowers confirmation.","tone":"negative","supportedView":"Price structure","direction":"downward","disagreement":true},"support":{"window":"Latest 12 months","controlState":"Control support is limited","controlPath":"Broadly stable","forceState":"Downward commitment","forcePath":"Broadly stable","directionState":"Follow-through is limited","persistenceState":"Unsettled","confirmationState":"Limited support","riskState":"Contained","intensityState":"Quiet"},"cards":[{"label":"SM Consensus Gauge","value":"-12.4","detail":"Price structure has stronger support","tone":"negative"},{"label":"SM Control Gauge","value":"-11.6","detail":"Control support is limited","tone":"negative"},{"label":"SM Force Gauge","value":"-22.4","detail":"Downward commitment","tone":"negative"},{"label":"SM Direction Gauge","value":"-6.1","detail":"Follow-through is limited","tone":"negative"},{"label":"SM Confirmation Gauge","value":"36/100","detail":"Limited support","tone":"caution"}]},"kpis":[{"label":"Price structure","value":"Aligned downward","detail":"completed-week alignment","tone":"negative"},{"label":"Momentum","value":"47.9","detail":"Negative","tone":"negative"},{"label":"Risk pressure","value":"2.9%","detail":"Contained","tone":"neutral"},{"label":"Trend quality","value":"21.6","detail":"Range-led","tone":"neutral"},{"label":"Range position","value":"47%","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":[24.8114,24.8254,25.1054,24.92,25.39,25.5453,25.54,25.5194,25.76,25.76,25.88,25.87,24.03,23.73,23.18,23.77,23.76,23.3503,22.62,23.111,23.5711,24.1147,24.405,24.2036,24.095,23.9618,24.38,24.2679,24.8494,24.697,24.4406,24.5221,24.27,24.155,24.3,24.37,24.1909],"stroke":"#10243b","width":2.1},{"label":"Fast trend","values":[null,null,null,null,24.97,25.0746,25.1592,25.2247,25.322,25.4016,25.4886,25.558,25.2802,24.9983,24.6677,24.5045,24.3691,24.1839,23.8995,23.7562,23.7225,23.7938,23.9049,23.9592,23.9839,23.9799,24.0527,24.0918,24.2295,24.3145,24.3375,24.371,24.3527,24.3167,24.3137,24.3239,24.2997],"stroke":"#176fa3","width":1.7},{"label":"Slow trend","values":[null,null,null,null,null,null,null,null,null,null,null,null,25.1406,25.0361,24.8986,24.815,24.7368,24.6341,24.4849,24.3832,24.323,24.3076,24.3148,24.3066,24.2909,24.2665,24.2749,24.2744,24.317,24.3451,24.3522,24.3648,24.3578,24.3428,24.3396,24.3418,24.3307],"stroke":"#07865c","width":1.8},{"label":"Upper envelope","values":[null,null,null,null,null,null,null,null,null,26.022,26.1141,26.1761,26.3447,26.4813,26.6575,26.647,26.6239,26.6347,26.7252,26.7131,26.6982,26.6676,26.6164,26.5746,26.4705,26.3291,26.1916,26.0403,25.8793,25.6842,25.3983,25.0694,25.0896,25.1084,25.1082,25.1397,25.1525],"stroke":"#98a9b8","width":1.0,"dash":[6,5]},{"label":"Lower envelope","values":[null,null,null,null,null,null,null,null,null,24.6134,24.6235,24.6451,24.2641,23.9025,23.4581,23.3076,23.1875,23.0038,22.6819,22.5348,22.4256,22.3851,22.3663,22.3364,22.3111,22.2941,22.3156,22.3417,22.4117,22.5004,22.6425,22.8365,22.8403,22.8641,22.9762,23.0048,23.035],"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":"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,4.1157,4.2144,4.0566,3.9218,3.91,4.0574,3.873,3.7807,3.6982,3.5863,3.5704,3.4687,3.522,3.5199,3.625,3.497,3.4292,3.3872,3.3385,3.275,3.2684,3.1197,2.9796,2.9162],"stroke":"#c13f3f","width":1.9},{"label":"Envelope width","values":[null,null,null,null,null,null,null,null,null,5.564,5.876,6.025,8.2224,10.2366,12.7684,13.3698,13.7974,14.6293,16.3673,16.9686,17.3954,17.4607,17.3536,17.3302,17.0532,16.597,15.9814,15.2891,14.361,13.215,11.4726,9.3222,9.3858,9.3566,8.8678,8.8687,8.7884],"stroke":"#b87806","width":1.7}],"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,128.1413,139.176,92.1482,66.5107,116.1611,220.1783,63.8629,61.252,38.2467,25.5228,20.0988,48.7707,23.4688,46.816,57.8321,34.6442,20.3089,24.6183,37.7315,34.9482,19.5521,39.5228,24.5477,11.7739,27.7308,47.6301,42.1526,51.0367,91.5054,145.8012],"stroke":"#1678a7","width":1.8},{"label":"Cumulative balance","values":[null,null,null,null,null,null,null,109.193,123.1514,123.1514,129.55,118.2082,94.3177,87.5757,81.2834,85.057,82.6508,80.841,76.571,78.5462,82.3785,86.9656,89.6715,88.1052,86.3659,83.8228,85.9786,84.8813,86.8627,85.7306,85.2223,86.2769,85.0041,83.9986,85.0831,86.94,83.9379],"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."}