[Elecraft] Tune Button with ATU off

[Rich]

I am working with a resonant 20m vertical.

With the ATU off, when I press the Tune button I see an SWR reading, is 
that the SWR the rig is seeing with the ATU in bypass?

I assume it is, but I thought I would ask the masses to be sure.

Thanks

Rich

K3RWN