Ratio chart of iShares Core U.S. Aggregate Bond ETF (AGG--the most widely held bond ETF) to SPY (i.e. AGG/SPY).
Shows bullish forming saucer (or rounding bottom) in AGG against SPY...i.e. that risk-off (AGG) looks to be putting in bottom against risk-on (SPY). Also has bullish RSI divergence.