{"schema_version":"1.0","name":"OPEX Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"d7f3113c-c0a6-4f8e-92d6-766e30d2db2f","symbol":"OPEX","name":"Tradr 2X Long OPEN Daily ETF","exchange":"CBOE","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, Drawdown and recovery pressure, Range position and boundary pressure, Range pressure and compression, Directional pressure and rotation, Activity pressure and cumulative balance."},{"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":44,"displayedObservations":44,"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":["2026-05-08","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":[0.161365,0.195156,0.231147,0.272297,0.241555,0.266465,0.284257,0.235158,0.393933,0.561905,0.662005,0.660174,0.526701,0.351899,0.175204,0.084103],"opens":[26.35,21.15,17.37,18.84,23.28,17.25,17.95,16.15,15.62,19.93,17.95,15.7672,11.22,11.03,8.77,9.43],"highs":[28.56,22.07,19.08,24.11,27.8,19.09,21.1473,16.77,21.82,24.1,18.72,16.01,12.36,13.31,10.14,9.9231],"lows":[20.81,16.51,15.5,18.0,16.4,14.29,16.51,14.56,15.17,16.56,14.8,10.95,9.86,8.495,7.5,8.1],"closes":[23.0,17.08,18.46,22.51,16.55,16.39,16.65,16.0,19.8,18.02,15.99,11.11,10.72,8.898,9.68,8.9001],"hoverRows":[[{"label":"Open","value":"26.4","className":"is-ohlc","compact":true},{"label":"High","value":"28.6","className":"is-ohlc","compact":true},{"label":"Low","value":"20.8","className":"is-ohlc","compact":true},{"label":"Close","value":"23.0","className":"is-ohlc","compact":true},{"label":"Market 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but easing","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"9.43","className":"is-ohlc","compact":true},{"label":"High","value":"9.92","className":"is-ohlc","compact":true},{"label":"Low","value":"8.10","className":"is-ohlc","compact":true},{"label":"Close","value":"8.90","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.08","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":[8.05188,23.84612],"zones":{"accumulationBoundary":-1.5,"accumulationDarkBoundary":-2.0,"distributionBoundary":1.5,"distributionDarkBoundary":2.0},"latest":0.084103,"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":16,"summary":"More completed weekly history is needed for a dependable ticker-level record."},"events":{"positioning_recoveries":[],"reversal_warnings":[],"reversal_dangers":[]}},"smTape":{"available":true,"dates":["2025-10-24","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":[100.23,93.9,65.13,93.33,61.59,78.84,66.6,55.02,50.4897,45.06,45.21,63.0,51.48,41.82,30.27,26.31,21.66,26.82,30.96,25.8,24.94,24.3,22.72,21.49,17.81,26.48,28.35,27.09,23.0,17.08,18.46,22.51,16.55,16.39,16.65,16.0,19.8,18.02,15.99,11.11,10.72,8.898,9.68,8.9001],"consensus":[43.4058,-17.1096,0.0,-9.3001,-56.5837,0.0,-23.8169,-46.6902,-31.7345,-44.863,-18.0553,24.4999,-25.4631,-36.011,-49.0158,-41.6081,-41.8337,-12.8254,0.0,-20.7486,-16.9546,-22.9351,-26.8952,-14.2928,-35.9448,14.3241,0.0,0.0,-15.3115,-37.2102,0.0,0.0,-38.1327,-13.6389,-20.4223,-12.9789,16.5904,-13.4819,-19.4214,-48.4878,-27.1137,-39.5656,-10.1257,-21.1197],"supportDates":["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":[null,null,null,null,null,0.0,-31.9333,-45.6814,-33.8872,-46.6193,-6.1144,18.2816,-27.7481,-43.5247,-52.8989,-36.7984,-45.1594,-11.2504,0.0,-23.3493,-24.7543,-30.5059,-32.3411,-13.4783,-47.0427,19.2636,0.0,0.0,-26.2247,-45.5568,0.0,0.0,-41.8522,-18.8207,-30.2685,-9.6626,14.2584,-20.4377,-25.1283,-52.1347,-28.1842,-43.1486,-3.1901,-25.0039],"force":[43.4058,-17.1096,0.0,-9.3001,-38.8478,0.0,-14.8143,-42.2664,-17.5818,-29.7677,-2.9624,68.2958,-30.3372,-29.6932,-41.416,-21.9209,-26.9438,-18.9318,0.0,-12.968,-2.3431,-11.0516,-16.1819,-1.428,-25.9034,30.8894,0.0,0.0,-16.5631,-34.5367,0.0,0.0,-51.5863,-3.7326,-12.871,-5.2719,34.4451,-20.4601,-23.8643,-70.3797,-15.575,-37.4642,-7.567,-11.0243],"direction":[null,null,null,null,-69.2523,0.0,-20.9714,-51.003,-39.3833,-53.638,-46.7147,0.3236,-19.3702,-31.9365,-50.0063,-61.1672,-48.6684,-37.3091,0.0,-23.3339,-18.4775,-22.7709,-28.3236,-24.4129,-30.4338,3.1535,0.0,0.0,-1.9453,-29.5809,0.0,0.0,-24.2723,-14.7927,-14.5633,-22.274,6.5021,-0.5482,-9.7259,-28.683,-34.1323,-36.9718,-30.6896,-23.8915],"intensity":[null,null,null,null,50.0,40.0,33.3333,28.5714,62.5,11.1111,30.0,72.7273,33.3333,23.0769,50.0,33.3333,6.25,11.7647,5.5556,21.0526,5.0,9.5238,9.0909,39.1304,16.6667,48.0,46.1538,7.4074,21.4286,48.2759,10.0,32.2581,43.75,60.6061,5.8824,28.5714,36.1111,8.1081,44.7368,33.3333,20.0,4.878,19.0476,2.3256],"confirmation":[36.5565,28.1417,1.4594,25.6427,62.6293,27.4626,75.2234,82.8214,77.6909,81.8693,28.6178,54.6028,76.2619,79.2165,83.3943,80.7879,80.8823,29.8657,5.4988,74.3628,50.1947,74.8617,76.197,49.5274,79.0272,51.0194,24.7037,1.4347,50.1049,79.6986,26.172,27.3359,80.5558,49.3169,74.155,49.3022,51.2219,49.7542,74.2633,84.1277,76.3084,80.5424,27.0877,44.64],"persistence":[null,null,0.0,25.0,40.0,33.3333,42.8571,50.0,75.0,75.0,87.5,62.5,62.5,75.0,75.0,75.0,75.0,75.0,62.5,87.5,87.5,87.5,87.5,87.5,87.5,62.5,62.5,50.0,50.0,50.0,37.5,25.0,25.0,50.0,62.5,75.0,50.0,50.0,62.5,75.0,75.0,75.0,75.0,75.0],"assessmentRisk":[null,null,null,null,17.8837,27.6905,15.23,24.3028,10.1483,25.2093,33.1751,8.7567,15.6059,8.3682,11.1729,28.3978,28.3147,38.9577,2.819,7.2057,28.6447,4.4252,26.3167,18.5905,26.4853,11.9681,37.6246,45.0104,50.756,30.3749,45.5203,44.8739,27.3958,1.9249,11.3997,40.0768,24.9284,26.2282,0.7953,21.3961,36.115,29.9517,43.8974,23.0497],"volumeParticipation":true,"latest":{"consensus":-21.1,"control":-25.0,"force":-11.0,"direction":-23.9,"confirmation":44.6,"persistence":75.0,"assessmentRisk":23.0,"intensity":2.3,"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":"Seller control supports the view","controlPath":"Control support is easing","forceState":"Commitment is limited","forcePath":"Commitment is easing","directionState":"Downward follow-through","persistenceState":"Established","confirmationState":"Qualified support","riskState":"Contained","intensityState":"Quiet"},"cards":[{"label":"SM Consensus Gauge","value":"-21.1","detail":"Price structure has stronger support","tone":"negative"},{"label":"SM Control Gauge","value":"-25.0","detail":"Seller control supports the view","tone":"negative"},{"label":"SM Force Gauge","value":"-11.0","detail":"Commitment is limited","tone":"negative"},{"label":"SM Direction Gauge","value":"-23.9","detail":"Downward follow-through","tone":"negative"},{"label":"SM Confirmation Gauge","value":"45/100","detail":"Qualified support","tone":"neutral"}]},"kpis":[{"label":"Price structure","value":"Aligned downward","detail":"completed-week alignment","tone":"negative"},{"label":"Momentum","value":"29.6","detail":"Stretched negative","tone":"negative"},{"label":"Risk pressure","value":"88.4%","detail":"Elevated","tone":"caution"},{"label":"Trend quality","value":"7.8","detail":"Range-led","tone":"neutral"},{"label":"Range position","value":"5%","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 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