{"schema_version":"1.0","name":"ETHX Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"f2af74b3-a46a-4947-9da0-927aec0ee583","symbol":"ETHX","name":"CI Galaxy Ethereum ETF (ETF C$ Hedged Series)","exchange":"TOR","country":"CA","asset_type":"etf","currency":"CAD","sector":null,"industry":null},"summary":"Market Dynamics strengthened this week and remains positive. Underlying support has strengthened across the recent completed path. 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, Drawdown and recovery pressure, Range position and boundary pressure, Acceleration, deceleration and rollover, 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":52,"displayedObservations":52,"assetType":"ETF","state":"Rotational","stateTone":"caution","summary":"Market Dynamics strengthened this week and remains positive. Underlying support has strengthened across the recent completed path. Price remains elevated in the distribution zone.","evidenceAlignment":{"status":"Unsupported elevation","headline":"Price remains elevated without full Market Dynamics support","summary":"Market Dynamics strengthened this week and remains positive. Underlying support has strengthened across the recent completed path. Price remains elevated in the distribution zone.","take":"This is a downside warning, not a confirmed reversal. Stronger Market Dynamics would repair the gap; weaker price would begin to confirm it.","tone":"caution","conflict":true},"marketDynamics":{"available":true,"readAvailable":true,"dates":["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"],"values":[-0.652248,-0.845133,-0.847832,-0.806331,-0.59013,-0.227751,0.022787,0.280713,0.455224,0.47039,0.584386,0.635194,0.395346,0.139163,-0.121642,-0.409349,-0.454799,-0.4319,-0.403942,-0.224721,-0.12173,0.014903,0.207151,0.414565],"opens":[4.1,4.67,4.6,4.21,4.33,4.47,4.69,4.7,4.79,4.72,4.27,4.26,3.37,3.37,3.4,3.09,3.53,3.65,3.65,3.77,3.94,3.74,3.83,3.78],"highs":[4.5,5.09,4.6,4.34,4.58,4.98,4.9,4.72,4.86,4.74,4.34,4.29,3.37,3.37,3.45,3.19,3.53,3.65,3.68,3.91,3.96,4.2,3.87,4.87],"lows":[4.1,4.2,4.01,4.09,4.22,4.47,4.65,4.55,4.62,4.48,4.16,3.98,3.13,3.37,3.4,3.09,3.48,3.65,3.65,3.74,3.7,3.73,3.73,3.78],"closes":[4.21,4.32,4.06,4.16,4.58,4.93,4.72,4.71,4.7,4.5,4.16,4.08,3.18,3.37,3.43,3.18,3.52,3.65,3.68,3.75,3.74,3.85,3.76,4.86],"hoverRows":[[{"label":"Open","value":"4.10","className":"is-ohlc","compact":true},{"label":"High","value":"4.50","className":"is-ohlc","compact":true},{"label":"Low","value":"4.10","className":"is-ohlc","compact":true},{"label":"Close","value":"4.21","className":"is-ohlc","compact":true},{"label":"Market 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this week","detail":"Market Dynamics strengthened this week and remains positive."},"fourWeek":{"label":"Strengthened over four weeks","detail":"Underlying support has strengthened across the recent completed path."},"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":"caution"},"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 strengthened this week and remains positive.","tone":"caution"},{"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 has strengthened over four weeks, but it still lags the elevated price.","tone":"caution"}],"relationshipEvidence":{"available":false,"observations":24,"summary":"More completed weekly history is needed for a dependable ticker-level 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Dynamics has stronger support","headline":"The gauges support the upward view","summary":"The completed evidence gives the upward view the clearer support.","take":"Current assessment: upward pressure has the stronger support.","tone":"positive","supportedView":"Market Dynamics","direction":"upward","disagreement":false},"support":{"window":"Latest 12 months","controlState":"Buyer control supports the view","controlPath":"Control support is strengthening","forceState":"Upward commitment","forcePath":"Commitment is strengthening","directionState":"Upward follow-through","persistenceState":"Unsettled","confirmationState":"Strong support","riskState":"Contained","intensityState":"Elevated"},"cards":[{"label":"SM Consensus Gauge","value":"+75.4","detail":"Market Dynamics has stronger support","tone":"positive"},{"label":"SM Control Gauge","value":"+68.3","detail":"Buyer control supports the view","tone":"positive"},{"label":"SM Force Gauge","value":"+99.1","detail":"Upward 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