We construct a new spectrum of units for a commutative symmetric ring
spectrum that detects the difference between a periodic ring spectrum and its
connective cover. It is augmented over the sphere spectrum. The homotopy
cofiber of its augmentation map is a non-connected delooping of the usual
spectrum of units whose bottom homotopy group detects periodicity.
Our approach builds on the graded variant of E-infinity spaces introduced in
joint work with Christian Schlichtkrull. We construct a group completion model
structure for graded E-infinity spaces and use it to exhibit our spectrum of
units functor as right adjoint on the level of homotopy categories. The
resulting group completion functor is an essential tool for studying ring
spectra with graded logarithmic structures.Comment: v3: 33 pages; exposition improved, accepted for publication in
Algebraic and Geometric Topolog