Despite better University of Michigan, stocks move to new session lows and yields go up

Despite better than expected University of Michigan sentiment, stocks have moved to new session lows and yields have moved to new session highs. The US bonds have also decoupled from the flight to safety flows normally seen in times of geopolitical stress.

For the NASDAQ index, it is moving closer to its rising 100 hour moving average and 19349.45. The low price just reached 19425.68. The current price is down -231.2 or -1.18% at 19431.

For the S&P index, it is still a decent distance away from its rising 100 hour moving average at 5953.64. The low price reached 5983.83 so far today. The current price is down -0.96% at 5986.81.

The USD moved higher in the normal Pavlovian reaction to geopolitical risks, but has moved lower more recently in the US session.

The EURUSD is trading at 1.1538 after reaching a low near 1.1488. The rising 100 hour moving average comes in at 1.14775. The price briefly moved below the when high from June 5.

The USDJPY is off its high at 144.48 and looks to test its 200 hour moving average at 144.048.