There are some metals turns due today, not in gold but in platinum and copper. There is also a commodity index turn due today. Markets have dipped a bit, so this may mark an interim low point.
On Tuesday 30th/Wednesday 31st July there will be a modest (grade 3) equity turn, across all areas of the world. There is a modest-sized turn due in wheat and corn due on the 31st. Nothing much is then due until mid August.
The week starting Monday 12th August begins with energy turns that day then bond turns on Tuesday 13th/Wednesday 14th. Soya beans and wheat are both due to turn on Wednesday the 14th. There are some stock turns during the week, but too spread-out for us to identify a date on which they cluster – there may even be two separate equity turns that week, or a ‘chicane’ as defined in our userguide – one early in the week and one late. Neither is likely to be large, as far as we can tell.
Bigger bond turns are expected on Wednesday the 21st August, plus or minus a day as are turns in various soya futures on the 20th/21st. There are no stock turns that week.
Equities should get busier the week after as there is a grade2 turn due in Europe and the East on centred on Thursday the 29th August. This spreads a day either side but there is s clear majority of turns that occur on that Thursday. There are a few component turns from US indices too but they come on Friday 30th when there is also a small US bond turn. There are also commodity turns due on Thursday 29th/Friday 30th August, in metals (including gold) and all the soya markets.
September seems fairly free of big turns from our current analysis and we will provide an update nearer the start of the month. We can already see that there are some large turns building up for October that we will recalculate over the next few weeks and report.