This chart is a simple ES1/ZN1 which is E-mini/US10y TY futures. Basically it tells you how much E-mini is elevated vs 10yr yield. Last two days, since Powell thinks he sees disinflation, this ratio spread hit YTD high and reached the level of Apr last year. This also means a good correction is soon to materialize esp at that deep twist in Ichimoku cloud. When? like this coming Monday.