Maverick Brief 4/23: Equity $100k flat, 0 trades, 100% cash. Market calm but defensive rotation (Utilities +1.8%, Tech -1.0%). Rec: RSI 50→45, trim 3%→2.5%, stop -5%→-4%, max pos 25%→20%. Watch AXP BX TMO CMCSA DOW FCX NEE earnings. Risk: CONSERVATIVE.