CPC's July discussion names a downwelling Kelvin wave that deepened the thermocline and warmed the eastern Pacific. That is real, and it is the fast part. Underneath it sits a slower measurement almost nobody quotes: warm water volume, the total amount of water above 20°C across the equatorial basin. For June 2026 it was +3.00 × 1014 m³, the second-highest June in the 46-year record and behind only 1997. It is also the measurement that will show, before anything at the surface does, whether the discharge phase of this event has begun.
Subsurface coverage of an El Niño almost always arrives as a Kelvin wave story. A pulse of warm water crosses the Pacific, the thermocline deepens in the east, sea surface temperatures rise a few weeks later. That is a real mechanism and CPC named it in the 9 July discussion: "a recent downwelling Kelvin wave deepened the thermocline and raised temperatures in the eastern Pacific."
But a Kelvin wave and the basin-wide recharge state are two different measurements answering two different questions, and they are routinely reported as if they were one. Kelvin waves redistribute thermocline depth and warm water zonally on relatively short timescales, and they matter dynamically: they change SST, currents and the ocean-atmosphere feedbacks that follow. Basin-wide warm water volume describes something slower and wider. Right now it is the more interesting number.
These are not the same measurement and they answer different questions.
The two are related but not interchangeable. CPC's subsurface index in the July discussion covers 180° to 100°W, the central and eastern part of the band, which is why it responds visibly to an arriving wave. The PMEL measure spans the whole equatorial Pacific and responds to the broader recharge state instead. Their divergence can help separate regional thermocline changes from changes in the basin-wide state. Neither measure alone determines the seasonal outcome.
Monthly warm water volume anomalies, in units of 1014 m³, from the PMEL/TAO project. The record begins in January 1980 and currently ends with June 2026.
| Month 2026 | Jan | Feb | Mar | Apr | May | Jun |
|---|---|---|---|---|---|---|
| WWV anomaly | +1.02 | +1.49 | +1.87 | +2.84 | +2.70 | +3.00 |
IAMElNino.com analysis. Ranked against every month in the record, June 2026 is third, behind April 1997 at +3.12 and June 1997 at +3.08. Ranked against every June, it is second, again behind 1997. The basin has gone from a modest deficit at the start of 2025 to near the top of its 46-year range in about eighteen months.
The peak monthly anomaly reached during each event's development year, with the month it occurred.
| Event | Peak WWV anomaly | Month | That January | That June |
|---|---|---|---|---|
| 1982-83 | +2.88 | Oct 1982 | +1.15 | +1.72 |
| 1997-98 | +3.12 | Apr 1997 | +1.63 | +3.08 |
| 2015-16 | +1.25 | May 2015 | +0.31 | +1.12 |
| 2023-24 | +2.48 | Apr 2023 | +2.20 | +2.33 |
| 2026-27 | +3.00 so far | Jun 2026 | +1.02 | +3.00 |
Two things stand out, and the second is the one that should stop anyone from reading this as a forecast.
The first is that at the June checkpoint, 2026's basin-wide warm water volume anomaly is close to June 1997, and well above 1982-83, 2015-16 and 2023-24 at the same point in the calendar. That is one metric at one calendar month. It is not an event analogue, and the full trajectories are not identical.
The second is 2015-16. It peaked at +1.25, the lowest of the five, less than half of where 2026 sits now. It then produced one of the strongest El Niño events in the record: seasonal RONI reached +2.25 in November-January. 2015 demonstrates that warm water volume alone does not uniquely determine the eventual surface-event magnitude. The research literature treats it as a genuine ENSO precursor whose lead relationship and predictive value vary over time, not as a one-to-one predictor.
IAMElNino.com analysis. Search the record for high warm water volume outside the famous events and the picture gets harder still.
So a full reservoir is not a schedule. In both of those cases the recharge was real and the surface response came much later than a naive reading would suggest, or in a different order entirely.
What is different in August 2026 is that the surface has already responded. RONI for May-June-July is +0.98°C and CPC has an El Niño Advisory in force. The 2008 and 2022 cases were recharge without an event underway. This is recharge with one underway. That is a materially different situation, and it is also why these historical cases limit what the number can promise rather than settling anything.
This is the part most subsurface coverage leaves out, and it is easy to get backward. In the recharge oscillator framework, an El Niño does not simply run out of steam: the equatorial band discharges heat poleward and warm water volume falls. A number does not end an El Niño. The transition involves coupled winds, currents, thermocline adjustment, meridional heat transport and surface fluxes. What declining equatorial warm water volume provides is evidence that the discharge phase has begun, an important precursor to the eventual transition rather than a solitary cause of it.
1997-98 shows the order of events, and it is the opposite of what people often assume. Warm water volume peaked at +3.12 in April 1997. It was down to +0.66 by November and turned negative in December, at −0.77. The surface event did not peak until then: seasonal RONI reached its maximum of +2.28 in November-January, with the ocean already discharging underneath it. By June 1998 warm water volume had reached −4.52, and 1998-99 was a substantial La Niña.
So the sequence in 1997-98 ran: maximum reservoir, then decline, then a surface event that kept strengthening anyway, then the surface peak, then a strongly negative reservoir as the event transitioned. A sustained decline from the warm water volume maximum can indicate that the equatorial discharge phase has begun, and it can begin before the surface El Niño reaches its maximum. It does not show that the surface peak is already behind us.
CPC is right that a downwelling Kelvin wave deepened the thermocline and warmed the eastern Pacific. That is the faster, more visible signal. The slower one is that basin-wide warm water volume reached +3.00 × 1014 m³ in June, the third-highest month in 46 years and within 0.12 of the highest ever recorded.
That is not a prediction of a record event. 2015-16 reached a very strong El Niño on less than half that, and 2008 and 2022 produced no immediate event on +2.73 and +2.02. What a near-record value does suggest is that a shortage of basin-wide warm water volume is not the obvious limiting factor at this stage. The eventual strength still depends on coupled winds, heat redistribution, surface fluxes and other feedbacks. The number worth watching from here is not how high it goes, but whether it begins a sustained decline, and when that decline sits relative to the surface peak.