{"schema_version":"1.0","name":"GLXY Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"ed482a0e-db96-4c77-bcb1-e5bac78b871c","symbol":"GLXY","name":"IncomeShares Galaxy Digital (GLXY) Options ETP","exchange":"LSE","country":"GB","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, Completed returns and cumulative progression, Range expansion and closing direction, Activity pressure and cumulative balance, 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":21,"displayedObservations":21,"assetType":"ETF","state":"Aligned downward","stateTone":"negative","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":["2026-04-03","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"],"values":[0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0],"opens":[7.23618,7.496002,8.745718,8.884514,10.38439,9.886028,9.928239,9.57366,10.084424,9.588734,11.483036,11.872213,10.024798,8.7925,9.14,7.70375,8.4375,8.5325,7.345,6.67875,7.52875],"highs":[7.23618,8.660563,9.670924,9.38178,11.249756,10.113972,10.35458,9.601098,10.084424,9.668445,11.794847,11.872213,10.024798,8.7925,9.14,7.70375,8.98375,8.5325,7.525,7.33875,7.97375],"lows":[6.599155,7.496002,8.745718,8.884514,9.924089,9.430139,9.867032,8.974251,9.818489,8.458717,11.483036,11.750302,10.024798,8.7925,9.14,7.70375,8.4375,6.855,6.4675,6.67875,7.1575],"closes":[6.736939,8.934442,10.179556,9.149722,11.316499,9.472351,9.867032,9.601098,9.818489,8.458717,11.794847,11.750302,10.024798,8.7925,9.14,7.70375,8.62625,7.7275,6.98625,7.33875,7.97375],"hoverRows":[[{"label":"Open","value":"7.24","className":"is-ohlc","compact":true},{"label":"High","value":"7.24","className":"is-ohlc","compact":true},{"label":"Low","value":"6.60","className":"is-ohlc","compact":true},{"label":"Close","value":"6.74","className":"is-ohlc","compact":true},{"label":"Market 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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":[6.433465,12.098321],"zones":{"accumulationBoundary":-1.5,"accumulationDarkBoundary":-2.0,"distributionBoundary":1.5,"distributionDarkBoundary":2.0},"state":"Insufficient history","context":{"scenario":"developing","latestDirection":"steady","fourWeekDirection":"steady","now":{"label":"Little changed this week","detail":"Market Dynamics remains positive and was little changed this week."},"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 remains positive and was little changed this week.","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":21,"summary":"More completed weekly history is needed for a dependable ticker-level record."},"events":{"positioning_recoveries":[],"reversal_warnings":[{"date":"2026-06-19","price":11.750302}],"reversal_dangers":[{"date":"2026-06-26","price":10.024798}]}},"smTape":{"available":true,"dates":["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":[6.7369,8.9344,10.1796,9.1497,11.3165,9.4724,9.867,9.6011,9.8185,8.4587,11.7948,11.7503,10.0248,8.7925,9.14,7.7038,8.6263,7.7275,6.9863,7.3388,7.9737],"consensus":[-56.7414,100.0,100.0,0.0,81.0696,0.0,16.3263,28.1133,0.0,-56.2784,73.1144,29.0366,0.0,-27.343,-16.0453,-53.4558,-11.8365,-50.7607,-56.9505,0.0,-3.327],"supportDates":["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,0.0,16.1608,32.2581,0.0,-48.0869,81.3665,9.356,0.0,-37.4031,-3.5852,-49.1975,-1.6389,-42.919,-45.7228,0.0,-19.352],"force":[-56.7414,100.0,100.0,0.0,54.7223,0.0,7.1232,2.4463,0.0,-93.2158,55.5074,4.4162,0.0,-21.5148,-0.5527,-36.9453,-10.848,-63.3815,-68.9566,0.0,-27.3545],"direction":[null,null,null,null,99.8891,0.0,33.2651,45.2046,0.0,-39.2561,76.2597,75.4236,0.0,-20.0087,-41.3514,-70.1158,-39.694,-50.7077,-61.2063,0.0,-32.1498],"intensity":[null,null,null,null,75.0,60.0,16.6667,28.5714,25.0,66.6667,100.0,9.0909,75.0,46.1538,14.2857,66.6667,56.25,70.5882,33.3333,15.7895,25.0],"confirmation":[40.8239,54.6667,54.6667,1.2373,70.0712,33.3733,51.3652,53.857,3.7829,87.2596,90.7343,54.8476,28.5643,76.4188,27.5189,84.6676,5.566,84.7475,86.7611,8.5187,31.078],"persistence":[null,null,33.3333,25.0,40.0,33.3333,42.8571,50.0,62.5,37.5,37.5,50.0,37.5,25.0,0.0,25.0,37.5,37.5,62.5,75.0,75.0],"assessmentRisk":[null,null,null,null,9.372,13.7525,18.2321,1.0856,41.0994,3.0291,4.9769,29.58,8.419,24.0017,39.2691,22.8462,30.8118,7.363,18.091,11.3604,24.725],"volumeParticipation":true,"latest":{"consensus":-3.3,"control":-19.4,"force":-27.4,"direction":-32.1,"confirmation":31.1,"persistence":75.0,"assessmentRisk":24.7,"intensity":25.0,"evidenceDepth":81},"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 downward price structure.","take":"Current assessment: follow price structure with limited confirmation.","tone":"negative","supportedView":"Price structure","direction":"downward","disagreement":false},"support":{"window":"Latest 12 months","controlState":"Seller control supports the view","controlPath":"Control support is strengthening","forceState":"Downward commitment","forcePath":"Commitment is strengthening","directionState":"Downward follow-through","persistenceState":"Established","confirmationState":"Limited support","riskState":"Contained","intensityState":"Quiet"},"cards":[{"label":"SM Consensus Gauge","value":"-3.3","detail":"Price structure has the available support","tone":"negative"},{"label":"SM Control Gauge","value":"-19.4","detail":"Seller control supports the view","tone":"negative"},{"label":"SM Force Gauge","value":"-27.4","detail":"Downward commitment","tone":"negative"},{"label":"SM Direction Gauge","value":"-32.1","detail":"Downward follow-through","tone":"negative"},{"label":"SM Confirmation Gauge","value":"31/100","detail":"Limited support","tone":"caution"}]},"kpis":[{"label":"Price structure","value":"Aligned downward","detail":"completed-week alignment","tone":"negative"},{"label":"Momentum","value":"68.3","detail":"Positive","tone":"positive"},{"label":"Risk pressure","value":"13.7%","detail":"Normal","tone":"neutral"},{"label":"Trend quality","value":"-","detail":"Developing","tone":"neutral"},{"label":"Range position","value":"28%","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 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