Where every market stands各市场所处位置

Eleven national equity markets on one clock — the US, UK, Europe, Japan, China, Hong Kong, Taiwan, India, Canada, South Korea and Australia. The y-axis is a cycle oscillator (0–100): high = extended near record highs, low = washed-out deep below them. Nine markets are engine-backed (country_cycles pos_v2); US and Europe show analyst estimates until their proxies are added to the engine. Observed history (solid), projection (dashed + uncertainty cone), and curated valuations with as-of dates — so you see not just when in the cycle each market sits, but how cheap or rich it is there. Projections here are windows, not certainties — re-drawn nightly as new data lands.十一个国家股市同框 —— 美国、英国、欧洲、日本、中国、香港、台湾、印度、加拿大、韩国与澳大利亚。纵轴是周期振荡器（0–100）：高=接近历史高点（拉伸），低=深跌超卖。九个市场使用引擎数据（country_cycles pos_v2）；美国与欧洲的代理 ETF 尚未入引擎，显示分析师估算。实线为历史，虚线（含锥形区间）为预测，并附带标注截止日期的精选估值 —— 让你不仅看到每个市场处于周期的哪个阶段，还能看到它在该位置是便宜还是昂贵。这里的预测是时间窗口，而非确定性结论——每晚随新数据重新计算。