{"schema_version":"1.0","name":"YSEM Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"f780f5f9-44c8-404d-b172-630ebe523a9d","symbol":"YSEM","name":"IncomeShares Semiconductors Leaders 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, Acceleration, deceleration and rollover, Drawdown and recovery 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":21,"displayedObservations":21,"assetType":"ETF","state":"Rotational","stateTone":"caution","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":[8.631048,9.65106,9.587168,9.323237,10.174103,10.261446,11.136849,10.718364,11.990903,12.761906,12.418744,13.536338,12.799004,12.93,12.235,10.995,11.19,11.61,10.045,10.89,11.115],"highs":[9.052375,10.548174,10.143703,10.262819,10.315242,11.013012,11.29058,11.700524,12.588739,12.761906,12.877839,13.582711,12.836103,12.955,12.235,10.995,11.83,11.615,10.67,11.055,11.23],"lows":[8.351377,9.65106,9.587168,9.323237,9.5047,10.214472,10.752526,10.427986,11.862795,12.27035,12.386282,13.536338,12.669159,12.585,12.025,10.795,11.19,10.14,9.5925,10.53,10.385],"closes":[8.945851,10.56706,10.121964,10.091435,10.242656,10.970309,10.929742,11.700524,12.396578,12.27035,12.877839,13.536338,12.669159,12.955,12.025,10.98,11.42,10.805,10.635,10.78,10.385],"hoverRows":[[{"label":"Open","value":"8.63","className":"is-ohlc","compact":true},{"label":"High","value":"9.05","className":"is-ohlc","compact":true},{"label":"Low","value":"8.35","className":"is-ohlc","compact":true},{"label":"Close","value":"8.95","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}],[{"label":"Open","value":"11.6","className":"is-ohlc","compact":true},{"label":"High","value":"11.6","className":"is-ohlc","compact":true},{"label":"Low","value":"10.1","className":"is-ohlc","compact":true},{"label":"Close","value":"10.8","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":"10.0","className":"is-ohlc","compact":true},{"label":"High","value":"10.7","className":"is-ohlc","compact":true},{"label":"Low","value":"9.59","className":"is-ohlc","compact":true},{"label":"Close","value":"10.6","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":[8.670422,13.811767],"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":13.536338}],"reversal_dangers":[{"date":"2026-06-19","price":13.536338},{"date":"2026-07-03","price":12.955}]}},"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":[8.9459,10.5671,10.122,10.0914,10.2427,10.9703,10.9297,11.7005,12.3966,12.2704,12.8778,13.5363,12.6692,12.955,12.025,10.98,11.42,10.805,10.635,10.78,10.385],"consensus":[69.6079,100.0,92.1877,36.8411,56.6602,58.1515,28.6324,70.7359,73.2214,21.8486,70.733,52.8026,0.0,54.003,-36.886,-39.1052,0.0,-52.9772,-22.1088,-16.6232,-58.1093],"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,69.4477,17.2858,71.5448,65.1237,1.4577,76.6933,28.9856,0.0,59.5357,-31.494,-25.3545,0.0,-39.138,-3.4607,-15.7387,-52.269],"force":[69.6079,100.0,92.1877,36.8411,24.5478,41.1379,0.6144,64.8143,79.4505,17.7178,51.0321,52.5662,0.0,30.6394,-84.226,-31.696,0.0,-77.3788,-10.9113,-4.4476,-76.0453],"direction":[null,null,null,null,79.5976,57.394,62.4904,74.0412,78.0266,73.4142,77.9934,80.1909,0.0,64.3681,-9.2339,-60.1126,0.0,-51.3636,-51.419,-32.6846,-51.9725],"intensity":[null,null,null,null,25.0,80.0,66.6667,85.7143,87.5,33.3333,60.0,81.8182,75.0,23.0769,78.5714,86.6667,62.5,76.4706,72.2222,68.4211,20.0],"confirmation":[44.9412,54.6667,52.1667,34.4558,61.9966,85.9178,53.9083,90.4427,91.7441,9.8762,89.9433,85.2526,33.1325,84.4846,81.3284,80.4974,6.5392,85.9072,52.351,50.9729,55.0],"persistence":[null,null,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,87.5,87.5,62.5,37.5,25.0,0.0,25.0,50.0,62.5],"assessmentRisk":[null,null,null,null,18.2067,3.5452,27.3443,13.9676,13.3042,37.7738,14.5204,23.4682,17.7334,13.3409,26.8419,30.4169,45.7557,23.3546,37.6858,6.8465,17.8043],"volumeParticipation":true,"latest":{"consensus":-58.1,"control":-52.3,"force":-76.0,"direction":-52.0,"confirmation":55.0,"persistence":62.5,"assessmentRisk":17.8,"intensity":20.0,"evidenceDepth":81},"analysis":{"status":"Completed tape has stronger support","headline":"The gauges support the downward view","summary":"The completed evidence gives the downward view the clearer support.","take":"Current assessment: downward pressure has the stronger support.","tone":"negative","supportedView":"Completed tape","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":"Developing","confirmationState":"Qualified support","riskState":"Contained","intensityState":"Quiet"},"cards":[{"label":"SM Consensus Gauge","value":"-58.1","detail":"Completed tape has stronger support","tone":"negative"},{"label":"SM Control Gauge","value":"-52.3","detail":"Seller control supports the view","tone":"negative"},{"label":"SM Force Gauge","value":"-76.0","detail":"Downward commitment","tone":"negative"},{"label":"SM Direction Gauge","value":"-52.0","detail":"Downward follow-through","tone":"negative"},{"label":"SM Confirmation Gauge","value":"55/100","detail":"Qualified support","tone":"neutral"}]},"kpis":[{"label":"Price structure","value":"Rotational","detail":"completed-week alignment","tone":"caution"},{"label":"Momentum","value":"71.7","detail":"Stretched positive","tone":"positive"},{"label":"Risk pressure","value":"8.2%","detail":"Elevated","tone":"caution"},{"label":"Trend quality","value":"-","detail":"Developing","tone":"neutral"},{"label":"Range position","value":"39%","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 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