{"schema_version":"1.0","name":"HECA Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"f5c08055-c547-457b-940d-dc6c85dc55f9","symbol":"HECA","name":"HEDGEYE CAPITAL ALLOCATION ETF","exchange":"NYSEARCA","country":"US","asset_type":"etf","currency":"USD","sector":null,"industry":null},"summary":"Market Dynamics strengthened this week and remains positive. Underlying support has strengthened across the recent completed path. Price has not yet responded to the same extent.","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, Strength versus the research benchmark, Activity pressure and cumulative balance, Range pressure and compression, Directional strength and control, Range position and boundary pressure."},{"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":60,"displayedObservations":60,"assetType":"ETF","state":"Rotational","stateTone":"caution","summary":"Market Dynamics strengthened this week and remains positive. 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A continued positive price response would confirm that price is catching up with the stronger foundation.","invalidate":"Reassess the reading when either price structure or the Market Dynamics state changes materially.","level":"positive","direction":"strengthening","zone":"middle","zoneContext":"Market Dynamics has strengthened across the recent completed path and remains strongly positive, while price has not advanced as far through its range. The gap is an early-upside watch; a positive price response is needed for confirmation.","historical":{"label":"Broad directional cases","weeks":12,"direction":"higher","percent":0.0,"averageReturn":-9.4,"sample":1},"nowContext":{"label":"Stronger this week","detail":"Market Dynamics strengthened this week and remains positive."},"fourWeekContext":{"label":"Strengthened over four weeks","detail":"Underlying support has strengthened across the recent completed path."},"priceContext":{"label":"Price is lagging the underlying strength","detail":"Market Dynamics has advanced further through its recent range than price. This is positive divergence and an early-upside watch, but price confirmation is still required."}},"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":"Early repair watch","title":"Prepare the case before price confirms the recovery","tone":"recovery","approach":"Use the improvement to move the ticker onto a watchlist or define an entry trigger. Commitment should rise only after price responds; fading Market Dynamics cancels the early case.","finding":"In this ticker's completed record, 0.0% of comparable cases moved higher after 12 weeks, with an average move of -9.4% across 1 cases.","watch":"Reassess the reading when either price structure or the Market Dynamics state changes materially."},{"eyebrow":"Zone positioning","title":"Use distribution to protect capital before considering the short case","tone":"negative","finding":"After distribution, 100.0% of completed 12-week outcomes were lower across 1 cases. Distinct visits lasted 3.0 weeks on average before leaving the zone.","approach":"Review long exposure and define the evidence that would confirm a rollover. Short exposure should begin only after price weakens and the loss limit is known.","watch":"A sustained repair in price and Market Dynamics invalidates the downside setup."},{"eyebrow":"Disagreement playbook","title":"Use improving Market Dynamics to prepare, not anticipate","tone":"recovery","finding":"Comparable disagreements produced an average recovery of 1.8% across 1 completed cases, with the largest move arriving after 2.0 weeks on average.","approach":"Define the price level that would confirm the repair. 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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":"Quiet"},"cards":[{"label":"SM Consensus Gauge","value":"+28.9","detail":"Market Dynamics has stronger support","tone":"positive"},{"label":"SM Control Gauge","value":"+26.3","detail":"Buyer control supports the view","tone":"positive"},{"label":"SM Force Gauge","value":"+18.0","detail":"Upward 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envelope.","reason":"Selected as the anchor because price is rotating through its trend references.","series":[{"label":"Close","values":[24.7004,24.5756,24.7602,25.0021,24.4795,24.8892,24.9481,25.0178,25.0363,25.359,25.6232,26.0803,26.3891,27.335,27.1635,27.7713,27.6634,27.8889,27.4086,27.5458,27.2223,27.732,27.732,27.7713,27.6144,27.8497,27.742,28.57,29.07,29.53,29.15,29.52,30.54,30.35,30.47,30.08,29.79,29.21,29.26,28.65,27.82,27.48,27.35,27.71,27.58,27.49,27.55,27.76,26.98,27.2,26.87,27.34,27.38,27.255,27.32,27.29,27.25,27.61,27.87,27.96],"stroke":"#10243b","width":2.1},{"label":"Fast 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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,67.2853,53.1178,40.9276,89.0403,70.7955,348.374,293.5639,413.7961,459.0385,269.3041,116.8606,205.55,205.1262,220.5055,100.4887,169.509,124.8312,88.4809,71.7421,46.5003,105.7446,72.4937,88.3871,130.7222,102.5374,235.6509,184.2082,194.0634,326.1925,180.7425,106.5956,121.9271,132.2395,147.3606,103.313,96.6861,53.9182,127.5059,68.4637,67.8414,42.5774,82.3593,38.9763,37.3426,26.4698,27.2298,40.7095,23.4505,35.1938,24.2716,37.7575,39.9953,20.5049],"stroke":"#1678a7","width":1.8},{"label":"Cumulative 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