The following Commodity Futures Market Analysis is the opinion of Optimus Futures. Click on the charts below to enlarge it.
S&P 500 Index Futures (ES)
The S&P 500 E-Mini futures market remained strongly bullish despite some weak economic data for the country this past week.
Philadelphia Federal Reserve business index fell to a negative 4.1 this month after being as high as 17 in just one month prior in January. This is the lowest recorded level for the index since May 2016. IHS Market also dropped some negative numbers last week saying its US Manufacturing Purchasing Managers’ index dropped to 53.7 in February, down from 54.9 last month to its lowest level in 17 months.
None of the bad news, however, had a lasting effect