KMLM

KraneShares Mount Lucas Managed Futures Index Strategy ETF

NYSE Arca · ETF

30.98

+0.14 (+0.45%)

Close, Oct 16, 2026

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Structural summary

What is the structure, what changed, and what would invalidate it

Viridia Intelligence

Context across dimensions, not a rating

StructureContracting rangeIntermediate-degree swings on the daily chart.

WaveUnresolvedZigzag, wave C up (Pattern Confidence 71); the weekly count agrees.

FibonacciAt a zoneNearest confluence 30.38–30.53 (5 relationships), −1.7% from the close.

MomentumPositive3 months +5.9% (ahead of SPY by 3.1 points); 6 months +11.1%.

RegimeUptrend+2.2% vs the 50-day average, +8.5% vs the 200-day.

RiskNormal20-day volatility 10% vs 13% over the year; 1-year drawdown −9.6%; beta -0.25.

KMLM setup historyNot replayed yet; the track record fills in most-traded securities first.

Current structure

Price, swings and the preferred count on the chart

KMLM · 1DLoading bars…

SourceMassive, end of dayUpdated—MethodDaily bars, split-adjusted

Candidate interpretations

Every count shown passes every hard rule

Candidate interpretations

Ranked by Pattern Confidence

Counts ending at the latest intermediate swing low, 28.20 on Aug 7, 2026. 48 labelings tested, 38 broke a hard rule, 10 remain.

Hard-rule evidence: why 38 labelings were eliminated

21Wave 2 always retraces less than 100% of wave 1
9Wave 3 always travels beyond the end of wave 1
5Price after the last labeled point has not crossed a rule-based invalidation level
2Contracting triangle: C ends short of A's end, D short of B's end, and E short of C's end
1Wave B retraces at least 90% of wave A

Method Every chain of 3–6 alternating pivots ending at the latest confirmed pivot is tested as each pattern; only counts with zero hard-rule failures are kept, then ranked by Pattern Confidence. Rules: rulebook.Engine pivots-1.0.0+rules-1.0.0+candidates-1.0.0+fib-1.0.1+rank-1.1.0+setup-1.0.1, bars to Oct 16, 2026

Fibonacci map

Confluence zones above and below the closeClose 30.98

30.98close

Bar length is the zone's strength (a weighted count of relationships, not a probability). Select a zone to see what forms it.

30.38 – 30.53−1.7% from the close

5 relationships · strength 4.2 · Minor degree

30.53Prior 4thCorrection ends near the end of wave 4 · Minor · Essentials
30.53RetracementMove after the correction retraces 100% of A–C · Minor · Viridia · secondary ratio
30.50ProjectionWave C = 161.8% of wave A · Minor · Essentials · secondary ratio
30.50ProjectionWave D = 61.8% of wave C · Minor · EWF
30.38RetracementCorrection retraces 38.2% of waves 1–5 · Minor · Basics

Method Targets come from the Fibonacci relationships the sources describe for the wave in progress, Elliott trend channels, the prior fourth wave of lesser degree, and 38.2–78.6% retracements of the latest swing. A zone is where two or more independent relationships fall within max(¼ ATR, 0.4%) of each other; strength counts them, weighting primary ratios and higher degrees. It is not a probability.

Evidence

The setup the preferred count implies, and how that kind of setup has done

Setup

Intermediate degree · from the preferred count

No scenario at intermediate degree right now

The target is closer than the stop (reward:risk 0.45 : 1): most of the count's expected move has already happened, so it isn't a setup. Viridia shows nothing rather than a guess.

NoteResearch scenario generated from Viridia's structural model. Not a recommendation.MethodA setup restates the preferred count as a trade: the entry (the close, or the level where the correction in progress most often ends), the stop where the count is wrong (a rule level, or the end of a finished pattern), and the count's own Fibonacci target. Reward:risk is measured from the middle of the entry range. A setup needs reward:risk of at least 1 : 1. It is research output from the wave count, not a recommendation or a forecast.

Engine details

Analysis engine: pivots-1.0.0+rules-1.0.0+candidates-1.0.0+fib-1.0.1+rank-1.1.0+setup-1.0.1
Bars analysed to: Oct 16, 2026
Price history: Automatic, updated nightly
Daily bars: 514 since Sep 30, 2024
Avg volume, 50 days: 361.6K
Dollar volume, 20 days: $10.0M
SEC CIK: Not matched
Provider symbols: nasdaqtrader: KMLM · massive: KMLM
Listing changes: None since Sep 24, 2026

SourcePrices: Massive (end of day, split-adjusted). Listings: Nasdaq Trader, SECUpdatedOct 20, 2026, 8:00 AM EDTMethodSecurity master, daily snapshot diff

Structure at a glance

Daily chart, as of Oct 16, 2026

Since the count's last pivot (28.20, Aug 7, 2026) price has moved +9.9%, the way the count expects.10 of 10 rule-valid counts expect the current move to be up.Weekly count: zigzag wave C ↑, same direction

Close call.The top two counts are within 4 points. Treat the structure as unresolved until one is invalidated.

Preferred count

Zigzag up · wave C ↑

Price is in wave C of a three-wave zigzag correction up.

A-B from 27.16, Jun 26, 2026

Pattern Confidence71High

3 of 3 checks met

Key levels, preferred count

Invalidation−12.3% from close

27.16

Price below this level breaks the count.

Target, wave C+5.6% from close

32.71

Wave C = 161.8% of wave A

Nearest confluence zone−1.7% from close

30.38–30.53

5 Fibonacci relationships meet here.

Alternate count

Impulse up · wave 3 ↑

Price is in wave 3 of a five-wave advance (impulse).

1-2 from 27.16, Jun 26, 2026

Pattern Confidence67Medium

2 of 2 checks met

Why this count is preferred · 3 met, 0 not met

Met

Wave B retraces 38.2% to 85.4% of wave A
Wave B retraces under 90% of wave A (deeper B waves fit a flat better)
The count starts at the price extreme of the prior swing (a new trend begins where the old one ended)

Not met

None.

MethodPattern Confidence = (guidelines met + 2) ÷ (guidelines measured + 4), from the rulebook's guidelines, Fibonacci tendencies and wave-personality checks (wave 3 speed and volume, wave 5 volume, alternation in time, a start at the prior extreme), alternate waves in Fibonacci ratio, and the rarity of running flats. The alternate is the best-ranked count that tells a different story. It ranks the rule-valid counts against each other; it is not a probability of any outcome.

Structural summary

Viridia Intelligence

Current structure

Candidate interpretations

Candidate interpretations

Fibonacci map

Fibonacci map

Evidence

Setup

Engine details

Structure at a glance

What changed