$KMNO The momentum of this rebound has already drained. The price has been giving back all the way from the intraday high, and the short moving averages have been smashed through by a large margin without climbing back. The order book sell orders are unbelievably thick—passive sell pressure is being stacked across both spot and futures against the active buy orders. Big orders are still being pulled out, and futures are still trading at a discount. The number of large-holder accounts looks all red; once positions are displayed, the shorts still have the upper hand. I’ve pinned this market direction as certain: the ceiling of the rebound is nailed in place. Any longs still daring to push upward are just picking someone else’s exit orders to offload.