NEAR The current order book is basically the “high-level distributing benefits” scene—prices are stuck right on the new highs, yet the futures contract basis has flipped negative. The sell-side is actively pressing down so hard that it’s rubbing the buy orders into the ground. The buy-side volume share has dropped by 40% over the past seven days, and the bulls don’t even want to shell out money to pretend. Retail traders are still waiting for a breakout, while the big operators are already opening the door and handing out year-end bonuses—go short on the momentum and you’re done.