{"schema_version":"1.0","name":"PAYH Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"dede884f-f66b-4f42-b626-d00ff2d9bc4b","symbol":"PAYH","name":"TrueShares S&P Autocallable High Income ETF","exchange":"CBOE","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, Range pressure and compression, Range position and boundary pressure, Directional strength and control, Activity pressure and cumulative balance, 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":34,"displayedObservations":34,"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":["2026-07-17","2026-07-24","2026-07-31","2026-08-07","2026-08-14","2026-08-21"],"values":[0.068752,0.02011,-0.068354,-0.134546,-0.165406,-0.12664],"opens":[24.755618,24.339419,24.13852,24.44,25.64,25.39],"highs":[25.100116,24.794377,24.676027,25.42,26.76,25.77],"lows":[24.547814,23.956063,23.965926,24.44,25.16,25.01],"closes":[24.812031,24.034963,24.4807,25.32,25.56,25.13],"hoverRows":[[{"label":"Open","value":"24.8","className":"is-ohlc","compact":true},{"label":"High","value":"25.1","className":"is-ohlc","compact":true},{"label":"Low","value":"24.5","className":"is-ohlc","compact":true},{"label":"Close","value":"24.8","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":"24.3","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":"24.0","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":"24.1","className":"is-ohlc","compact":true},{"label":"High","value":"24.7","className":"is-ohlc","compact":true},{"label":"Low","value":"24.0","className":"is-ohlc","compact":true},{"label":"Close","value":"24.5","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":"24.4","className":"is-ohlc","compact":true},{"label":"High","value":"25.4","className":"is-ohlc","compact":true},{"label":"Low","value":"24.4","className":"is-ohlc","compact":true},{"label":"Close","value":"25.3","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":"25.6","className":"is-ohlc","compact":true},{"label":"High","value":"26.8","className":"is-ohlc","compact":true},{"label":"Low","value":"25.2","className":"is-ohlc","compact":true},{"label":"Close","value":"25.6","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":"25.4","className":"is-ohlc","compact":true},{"label":"High","value":"25.8","className":"is-ohlc","compact":true},{"label":"Low","value":"25.0","className":"is-ohlc","compact":true},{"label":"Close","value":"25.1","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}]],"pressureRange":[-2.3,2.3],"priceRange":[23.943461,25.651502],"zones":{"accumulationBoundary":-1.5,"accumulationDarkBoundary":-2.0,"distributionBoundary":1.5,"distributionDarkBoundary":2.0},"state":"Insufficient history","context":{"scenario":"developing","latestDirection":"strengthening","fourWeekDirection":"weakening","now":{"label":"Stronger this week","detail":"Market Dynamics improved this week but remains below zero."},"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":"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 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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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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.","invalidate":"Reassess the reading when either price structure or the Market Dynamics state changes materially.","level":"negative","direction":"strengthening","zone":"middle","zoneContext":"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.","historical":{"label":"Broad directional cases","weeks":12,"direction":"lower","sample":0},"nowContext":{"label":"Stronger this week","detail":"Market Dynamics improved this week but remains below zero."},"fourWeekContext":{"label":"Weakened over four weeks","detail":"Underlying support has contracted across the recent completed path."},"priceContext":{"label":"Price structure is upward","detail":"Price is responding in the same broad direction as Market Dynamics."}},"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":"Divergence control","title":"Do not chase price while the underlying evidence lags","tone":"caution","approach":"Use the gap to review position size, protect gains and wait for either Market Dynamics to catch up or price to correct. The disagreement is a warning condition, not an automatic exit.","finding":"The current relationship is visible, but this ticker does not yet have a completed comparable outcome.","watch":"Reassess the reading when either price structure or the Market Dynamics state changes materially."}]},"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":["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":[23.345,23.4884,23.5701,23.2197,23.1283,22.9493,22.5779,22.8309,22.7484,22.6918,22.0928,21.411,20.6844,21.2041,22.5354,24.0222,24.4109,24.6003,25.0051,24.7786,25.0088,24.931,24.5744,24.5738,24.7026,23.906,24.5856,24.7944,24.812,24.035,24.4807,25.32,25.56,25.13],"consensus":[20.4538,100.0,-81.5054,44.7169,-49.4525,-46.3993,-62.273,0.0,-39.0414,-35.3176,-72.2011,-80.9707,-79.6381,0.0,46.6393,73.2217,40.8568,53.5014,65.1052,16.9755,40.8502,25.3857,0.0,12.6808,10.5451,-39.6057,36.9812,28.1253,14.8814,-30.5905,21.6091,54.6973,26.6788,1.2711],"supportDates":["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,-38.5031,-58.6506,0.0,-27.6678,-27.8152,-64.8647,-74.8769,-70.9509,0.0,38.6419,61.2091,30.6158,50.0066,60.174,10.916,41.5319,22.7272,0.0,15.7548,12.3594,-38.5549,34.769,26.4944,15.8824,-37.5831,25.6443,57.9427,19.1094,9.7877],"force":[20.4538,100.0,-81.5054,44.7169,-29.2902,-36.4975,-52.7294,0.0,-37.6246,-30.7049,-87.1113,-91.9676,-90.0249,0.0,83.812,91.7756,25.162,43.7795,71.2239,29.5117,19.2152,1.0423,0.0,2.8519,3.3163,-64.5467,67.768,32.9815,2.9232,-50.9118,41.1129,70.4469,14.871,37.5305],"direction":[null,null,null,null,-63.8542,-62.4963,-73.2299,0.0,-53.0517,-47.1867,-69.9355,-80.0802,-82.1473,0.0,29.2272,73.6976,63.7713,64.4397,66.3703,57.1059,55.5246,47.3012,0.0,20.2624,18.3725,-22.9915,17.5188,26.5205,22.2791,-8.0838,3.0661,39.7385,43.7636,34.3617],"intensity":[null,null,null,null,75.0,40.0,66.6667,85.7143,75.0,33.3333,90.0,90.9091,91.6667,100.0,100.0,93.3333,93.75,47.0588,50.0,36.8421,10.0,9.5238,31.8182,60.8696,20.8333,84.0,69.2308,44.4444,10.7143,82.7586,46.6667,87.0968,90.625,84.8485],"confirmation":[29.2119,54.6667,48.7484,36.9761,60.2364,82.6663,87.6917,12.2386,80.6234,79.2754,91.6706,94.3386,93.9331,38.1125,84.1793,92.1794,80.7519,84.8774,89.0953,33.0702,80.4023,52.9142,29.9065,49.4794,48.9652,81.4499,80.806,77.173,49.7157,78.3017,52.7811,85.9337,76.2927,31.3792],"persistence":[null,null,33.3333,50.0,20.0,0.0,14.2857,12.5,37.5,62.5,62.5,87.5,87.5,75.0,50.0,37.5,12.5,12.5,37.5,62.5,87.5,100.0,87.5,87.5,87.5,62.5,62.5,62.5,62.5,37.5,50.0,50.0,50.0,62.5],"assessmentRisk":[null,null,null,null,15.8577,26.5637,18.8595,45.5102,27.8422,25.3875,12.0047,9.5101,10.1808,47.6848,10.6775,13.3444,29.57,23.2452,17.3843,32.2588,15.4529,10.382,24.8599,21.7702,29.0622,27.0036,17.5659,5.8438,7.2566,30.5222,22.8765,12.9241,32.7019,49.5689],"volumeParticipation":true,"latest":{"consensus":1.3,"control":9.8,"force":37.5,"direction":34.4,"confirmation":31.4,"persistence":62.5,"assessmentRisk":49.6,"intensity":84.8,"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":"Developing","confirmationState":"Limited support","riskState":"Present","intensityState":"Elevated"},"cards":[{"label":"SM Consensus Gauge","value":"+1.3","detail":"Price structure has the available support","tone":"positive"},{"label":"SM Control Gauge","value":"+9.8","detail":"Control support is limited","tone":"positive"},{"label":"SM Force Gauge","value":"+37.5","detail":"Upward commitment","tone":"positive"},{"label":"SM Direction Gauge","value":"+34.4","detail":"Upward 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Market Dynamics construction and private inputs are not disclosed. Historical research is not a forecast or instruction to trade."}