Monnierara millenium magic witchcraft -- growth cycle?

[MJG]

I bought this orchid online and have had it for a month. It looked just like this when I received it, without the yellow leaf. A week ago another leaf turned yellow and then died. Now this one is going. I am trying to understand why. I am also very confused about the growth cycle.

Is this leaf loss part of this orchid's normal cycle? It seems way ahead of what I understand is typical. Everything I read says hold back on watering until there's root growth, sometime in May or June. Then it's supposed to grow leaves, begin to lose them late summer and flower in the fall. This one showed up in May with tons of roots, all leafed out. I've been watering and fertilizing. Is it now heading to the part of the cycle where it sheds its leaves? It seems too soon, and I don't see any sign of flower spikes developing yet.

Another possibility for the leaves yellowing could be proximity to my grow lights. Or could it be pests or fungal?

Any help in understanding this beast will be greatly appreciated.