SNDK’s fee rate is still propping up, the 8-hour average has already turned negative, yet the longs are still clutching the positive fee rate like a talisman. The 4-hour structure on the chart is clearly DOWN: active sell orders are pressing down on the buy side, and every rebound is just distribution. Don’t catch a falling knife in this kind of market. Current price 1529—short directly. First target 1467. If it breaks below 1512, it’s the vacuum zone—there’s no support underneath. Set stop-loss at 1600 and don’t fight the trend.