Hi everyone, this is my first attempt at rooting a plumeria cutting and I need some help reading the signs. I first potted the cutting a month ago in 2/3 perlite 1/3 potting soil in a terra cotta pot with a layer of pebbles on top. The cutting arrived with two existing leaves which I left on, but they started curling and looked unhealthy so yesterday I cut them off. The stem is firm throughout, but has significant wrinkling and some dark scabs near the top. There are some small leaves forming which look healthy. Since the new leaves appeared, I've been watering lightly 1-2 times a week since it has been very hot & humid in NYC (85F) and my moisture meter shows the soil draining very quickly. I pricked the stem near the dark areas and white sap came out.
Today I carefully removed the cutting to check for roots and I didn't see anything obvious, but there were some tiny bumps, kind of hard to see with the dirt. I put it back in the pot with more rooting hormone. I'm wondering if someone can look at the photo and share your opinion on whether roots are coming or not. I'm also not sure how to judge the stem - whether it's dehydration or potential rot. Any input you can share would be so helpful - I really don't want to lose this cutting!