Dow runs 2.6 ATR above its average while Nasdaq 100 sits 2.2 below

Midday review, prices read at 12:14 UTC from the futures and mapped onto yesterday's cash closes with a stable basis (+0.43% on US 500, +0.46% on US Tech 100, +0.28% on US 30, no rollover step). US 500 is estimated at 7,701, right on its 20-day average of 7,700: a deviation of 0.01 ATR14 (83 points) is noise, not a trend, so no direction is allowed. US 30 trades near 53,697 after yesterday's 3% jump, 2.6 ATR14 above its 52,153 average: entering now would be chasing. US Tech 100 is the mirror image at about 28,306, 2.2 ATR14 below its 29,490 average, also outside the 1.5 ATR entry band. The post-election rotation from technology into industrials is the fact of the day, and it has pushed two of the three indices too far from their means to place a stop derived from structure. VIX at 16.8 and the 10-year yield easing to 4.89% block nothing; tomorrow's payrolls at 13:30 UTC would fall outside any intraday idea opened today. Single stocks are not assessed at this hour by method. No idea published: this is the fifteenth consecutive review without a signal, the dominant blocker remains late entry, and we flag it as a calibration question rather than as market caution.