The last cyclical peak in household debt was in 1979, when it accounted for 64.4 percent of personal income.

Mueller added that Wall Street was "close to a cyclical peak."

"The equity markets in general do not yet exhibit the usual signs of a cyclical peak," he said.

But the stock offering could also signal that wrestling has reached one of its cyclical peaks of popularity.

The economy is slowing and there are signs that we have reached a cyclical peak.

The business-as-sport metaphor seems to have reached another cyclical peak.

We are at a cyclical peak in earnings for these companies, and there appears to be a slowing in some of the businesses.

"Certainly, for the region, we've probably hit the cyclical peak in terms of job growth, income growth and housing activity," she said.

But China's economy has always followed a boom-bust cycle, and there is some evidence that it is now at a cyclical peak.

With yesterday's cut, the federal funds rate has fallen from a cyclical peak of 6.5 percent to 2 percent.