$SLX From the perspective of a market maker, SLX has just finished the active dump-and-distribute phase, and is in the early stage of bottom-churning with passive accumulation. The long-term one-way downtrend in CVD indicates that there is no major player actively sweeping; only sporadic buy-side absorption is taking place as retail traders cut their losing positions. Short positions in the market continue to build up, while there is layered, heavy overhead trapped-supply sell pressure starting at 0.106. Within the next 3–5 days, a small short-squeeze pulse and a brief rebound are likely to occur; after price rises, it will be pressured and then drop again. To produce a sustained swing-rebound, CVD would need to turn and remain consistently positive in inflows, and retail short positions would need to close out in a concentrated way to complete sufficiently thorough accumulation. Even in a bullish scenario, the optimistic cycle would still take more than 15 days. At this stage, range-bound consolidation and position “washing” is the main pacing of the operator.