Audio Waveforms Not Displaying

Hey all,

I literally cannot see the waveforms on my sound effects nor my music.

Multiple audio clips without any waveforms

Screenshot 2024-04-23 at 7.23.58 PM.png (81.93 KiB) Viewed 380 times

Grey box outlining the audio clip but no waveforms

Screenshot 2024-04-23 at 7.23.25 PM.png (185.97 KiB) Viewed 380 times

When I look at the clips in my source window, a grey bar outlining the clip appears. They are all MP3 files. The audio plays just fine. I have tried messing with the timeline view options without any luck. Any help would be greatly appreciated.

(I am not sure if this would affect anything but I recently switched my storage location from an HHD to an external SSD.)

I am working with:

Davinci Resolve 18.6

Macbook Air M1 8GB RAM

Are waveforms not displayed for all media or only the mp3 source media?

Is the cache files location for the Project pointing to an available volume?
Project Preferences > Master Settings > Working Folders > Cache files location