Risk appetite in the markets? Checking the $XLY / $XLP quotient

I have this quotient in my watchlist to monitor the risk appetite of the market. The XLY ETF (Consumer Discretionary) is a good indicator of high risk appetite because its holdings are more focus on growth therefore are more volatile. And the XLP ETF (Consumer Staples) is more focus in value stocks, therefore less volatile.

XLY with holdings like AMZN , TSLA and MCD . And XLP with holdings like KO , PEP and COST .

Right now the quotinet XLY/XLP is near a breakout off a base to make an all time high, while its 20 day moving average is croosing the 50 moving average. This are good news to this bull market.