To make big returns you need a big trend. There is no other way around. So, let’s have a look if such a move is coming. But first, I want stock and currency traders to pay attention to fundamental analysis.

Fundamental analysis

This week, the spotlight will be back on housing with the NAHB Housing Market Index on Monday, Housing Starts and Permits on Tuesday, and Existing Home Sales on Friday.

There are also a couple of key regional manufacturing indexes for May on the calendar next week, with Empire State on Monday and Philadelphia on Thursday. Earnings season is winding down but there are still a couple of big names coming up, including Siemens today.

Next week brings results from Bridgestone, Ryanair, and Softbank Group on Monday; Advanced Auto Parts, Home Depot, Macy’s, and Walmart on Tuesday; Analog Devices, Cisco, L Brands, Lowes, Target, TJX on Wednesday; Applied Materials, Hormel, Kohls, Palo Alto Networks, Petco, and Ross Stores on Thursday; and Deere & Co. on Friday.

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On the international front, investors will be closely monitoring the fighting in Israel as the situation has continued to deteriorate this week. Israel’s military ground forces began attacking the Gaza Strip yesterday, a major escalation from the exchange of missiles that have been ongoing since Monday. It is not clear if Israel is planning a full-scale invasion.

There are also widespread reports of Jewish and Palestinian civilians battling in the streets, which is raising fears of all out civil war and raising the risk of other Middle Eastern countries getting dragged into the conflict.

Technical analysis

sp500 chart

Insider Accumulation divergence played very well last week for SP500 traders. Additionally, cycles predicted a bottom very accurately. Coming week we may see consolidation followed by a short-term rally. This is based on cycles only. Advanced Decline Line is almost silent.

However, it is a bit stronger than the price is. It can be considered a sign of the strength of the stock market. But, the setup is not strong. Besides, Insider Accumulation is weak. So, I believe sticking to pure price action is the best for now. It is not a time for a swing trade.

corn chart

The Corn market declined as expected. Note, the bearish setup is very strong. Commercials Index and net positions are still bearish. Moreover, weekly cycles point to a longer decline in corn prices. Besides, there is no accumulation in this market. However, it doesn’t mean this market will drop without a pullback.

Based on daily cycles, we can expect corn futures to bounce up this week. Then look for a new entry.

There is a bullish setup in Gold based on commercials positions and Insider Accumulation. However, the timing tools – cycles and seasonal – give mixed signals. With that in mind, I want to use smaller time frames, like 4 h to find an entry. As for today, I see two interesting levels 1798  and 1850. So, watch price action there.

Also, pay attention gold is flagging on a weekly chart. And in most cases, this pattern works very well in gold. In the video above, I also shared insights on EUR, Coffee, Live Cattle, Copper, and Dax.

What To Trade Coming Week? Stock Market And Commodities Analysis by Inna Rosputnia

Wishing you a great week!

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