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Are you sure your pH is 5? That seems really low. Can you show us a pic of the entire palm? I suspect that it might be going through some sun acclimation and now because it's throwing shorter leaves they are getting bunched up inside of the old crown shaft causing the accordian leaf. That pleated leaf isn't too uncommon, neither is the rotten stuff on the leaflets. They were rotting in the crownshaft during winter and have since pushed out. That's a good sign actually. Mark the spear with a sharpee and if it's moving then you're doing ok for now.