We develop an analytic model for transit timing variations produced by orbital conjunctions between gravitationally interacting planets. If the planetary orbits have tight orbital spacing, which is a common case among the Kepler planets, the effect of a single conjunction can be best described as: (1) a step-like change of the transit timing ephemeris with subsequent transits of the inner planet being delayed and those of the outer planet being sped up, and (2) a discrete change in sampling of the underlying oscillations from eccentricity-related interaction terms.
In the limit of small orbital eccentricities, our analytic model gives explicit equations for these effects as a function of the mass and orbital separation of planets. We point out that a detection of the conjunction effect in real data is of crucial importance for the physical characterization of planetary systems from transit timing variations.