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Upcoming turns

There have been few turn signals of any size in equity markets in recent weeks and that unusual state continues for a while longer.

There is a small (i.e. grade 3, where 1 is large and 3 is small) equity index turn due today that might end the current slide in Europe, or perhaps only provide a pause.

Another similar grade 3 turn comes over the weekend between Friday the 15th February and Monday the 18th. This is accompanied by a long-term bond turn on the 18th February.

There is a grade 2 turn, mostly in US equity indices due on February 22nd

There is a long-term bond turn due over the weekend 1st March/4thMarch when there is also a long-term Dow turn – probably on the Monday, not Friday. There is an energy turn also due on the 4th.

Things start to intensify later in March, as there are two grade 2 turns in quick succession on Thursday March 21st (mostly in the US) and Monday 25th (mostly in Europe, with some contribution from Asia). It is possible that these two very close turns may mark a single larger event if say, the US turns first and Europe turns two trading days later. If so, this would mark a full grade 1 event. The other possibility is a sharp ‘swerve’ between these two dates, which would mean a large increase in volatility over that period.

There are also Grain turns due in that period, on Friday the 22ndMarch and an energy turn on the 25th.