Just like mass, energy, linear momentum, and electric charge, angular momentum is also conserved.
The wheel has angular momentum. I don't remember whether it's up or down (right-hand or left-hand rule), but it's consistent with counterclockwise rotation as viewed from above.
When you grab the wheel and stop it from spinning (relative to you), that angular momentum has to go somewhere.
As I see it, the angular momentum transfers through you as a temporary axis of rotation, and eventually to the merry-go-round. Finally, all the mass of (merry-go-round) + (you) + (wheel) is rotating around the big common axis, counterclockwise as viewed from above, and with the magnitude that was originally all concentrated in the wheel.
It lasts 29 1/2 days. -the sidereal month- is the true period of the moon's revolution around Earth. It lasts 27 1/3 days. -the difference of 2 days between the synodic and sidereal cycles is due to the Earth- moon system also moving in an orbit around the sun.