Shows the relation of US Government Bonds 10 YR Yield to risk assets like S&P500.
When yields move to the 80th percentile of their rolling 1 quarter (63 day) range, the S&P500 struggles.
The indicator chart's background is painted with red when yields move over 80th percentile. Notice how the risk assets (eg S&P500) goes down in that range.
The indicator works pretty good for the S&P500. Not as good for bitcoin, but maybe still useful
Credits: Tomas (@TomasOnMarkets) - x.com/TomasOnMarkets/status/1881770106356641885 Warren Pies (@WarrenPies) - x.com/WarrenPies/status/1881480249139187974