Stock/Bond Ratio Falls Below -2
Stocks and bonds do not have a consistent correlation, but they do tend to move within relatively stable bands around a long-term moving average. When one market or the other moves far outside the norm, markets tend to snap back.
We're seeing that now, as the Stock/Bond Ratio has plunged below -2 even while the S&P 500 is still above its 200-day average and within 6% of its 52-week high. See the May 30, 2019 report for more details.