Here is an update to the schedule of market turns that we expect until late September. There are a couple of things to watch for:
- The equity turn due on August 1st/4th is large and spans the weekend. The main cluster is due on Monday the 4th but there is a Dow long-term component that comes on Friday the 1st. This is also very large so this turn event may be more significant than usual.
- The cluster due toward the end of September is rather diffuse and turns occur in different parts of the world on different days. We have merged them all into one turn event but this is little more than a guess from us – there could be two closely-spaced turns in the world’s stock and financial markets that comprise a ‘swerve’ in which a high and low closely follow one another (or a low then a high). We will advise as we see events unfold, as usual.
A note for newer readers: These turns are often accurate to the day but usually we assume they occur on time +or– one day. If a turn coincides with some other signal, such as an extension, a compression, or the return to a prior compression then we usually issue a trading recommendation. Turns alone rarely provide enough evidence for us to advise a trade as they are too numerous. If a market is making new highs or lows into the turn day however and there is some other reason to trade against the current move, turns provide a good timing tool that you may wish to use to take a trade that we have not recommended. Please read the user guide on our website for more on the use of turns – there are some technicalities that you should try to master before trading on or near turn days.
