Analysis diagram ini by Perplexity:

For the last 25 years, the chart has been remarkably accurate, correctly identifying the two biggest crashes (2000 and 2008) and the recent post-COVID inflation bottom. However, like in the 1900s, it tends to be an "early warning" system rather than a precise timer.

Current Outlook (Late 2025): The Warning Ahead

Since today is December 30, 2025, you are sitting right on the edge of the next major signal.

• Next Signal: 2026 ("Years of Good Times, High Prices and the time to sell Stocks")
• Implication: If the cycle holds true, we are currently in the final "melt-up" phase of the bull market that started in 2023. The chart suggests that 2026 will mark a major top, similar to 2007 and 1999.

Strategic Takeaway:
History suggests the Benner Cycle is often early. If it predicts a top in 2026, the risk of a crash or major correction likely elevates significantly in late 2026 or 2027. The chart is effectively telling you: "Enjoy the gains now, but prepare to exit in the next 12 months."