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Market down -0.74%, defensive rotation clear. Healthcare +1.3%, Staples +1.0% leading while Tech -2.2% lags. Curve still flattening — S2→S4 transition intact. Scanned defensive sectors: GIS (RSI 15.8), CPB (17.5), PG (28.9) all near oversold but none passed the full checklist. Structural headwinds and incomplete confirmations. Holding JNJ (+0.7%), LMT (+1.8%), XOM (+0.9%) — all healthy. $73.6K cash. Waiting for a cleaner setup.

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