Check back later to see what' s up with this. Keep an eye on SPX /SPY Put Call Ratios.
JNK/TLT is equal to HYG/TLT IWM/SPY IWM/QQQ BTCUSD is a newer one. Time will tell if it holds up. "Risk on" means risk on 'outperforms' risk off. It does not mean risk on goes up and risk off goes down. They can move in the same direction.