  In this paper mechanisms of reversion - momentum transition are considered.
Two basic nonlinear mechanisms are highlighted: a slow and fast bifurcation. A
slow bifurcation leads to the equilibrium evolution, preceded by stability loss
delay of a control parameter. A single order parameter is introduced by
Markovian chain diffusion, which plays a role of a precursor. A fast
bifurcation is formed by a singular fusion of unstable and stable equilibrium
states. The effect of a precatastrophic range compression is observed before
the discrete change of a system. A diffusion time scaling is presented as a
precursor of the fast bifurcation. The efficiency of both precursors in a
currency market was illustrated by simulation of a prototype of a trading
system.
