Identify the general time table -- as follows:
Decide if the economy is recovering (expanding) or receding (contracting)
Measure the duration of a current expansion or contraction
Compare the current vs. the average (per the NBER)
Fix the date of a contraction -- after an expansion starts
Monitor the reports of respected economists
Use judgment to find the start & end date of a peak and trough
Track the industries that outdo the S&P (See the table above)
See the general trend of our cyclic indicators
Find the growth in industrial output, inflation, & interest rates.