This talk about “sideways consolidation and saving up power” is only enough to fool yourself. The big money in the TRB spot market has been dumping out all the way—within a three-hour window you can’t find even a single clear net inflow. The whales’ long positions are also shrinking accordingly, and the sell pressure in the order book is still pressing down on the buy side. The tighter the longs bite in the contract, the more decisively the money withdraws in the spot. The price is being ground downward under the moving averages, with no strength at all for any counter-rally. Open interest keeps shrinking—this isn’t building up power; it’s bleeding the longs that are still standing. On the short side, I’m in—I won’t explain.