According to the projections at the top/bottom every day is a potential cycle peak/trough day.
Under Hurst every day could potentially have a peak and trough of a cycle of some length. To simplify his Spectral analysis Hurst created a binary code for each cycle length, a simple +1 if the cycle was going up and a -1 if it was going down. He then summed the results in order to get a sense of the likely direction of all the cycles his Spectral analysis found in the data series and of when the sum of the cycles turned The models here address 7 cycle lengths up to the 18 year cycle and then adds a signa calculus result for the sum of all longer cycles.
The diamonds are color coded for the cycle length being portrayed. The cyclic model and color codes are labeled on the right axis. The Sentient Trader website has introductory material on Hurst and also what the software does and how to interpret it if one wants more information.
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