After the recovery triggered by upward move of the intraday Black oscillator, supported by the great momentum of the dominant intraday Blue. But as we see from the intraday closing chart for the Nasdaq composite, shown below, the intraday Black oscillator has begun its turn.

As turning points are the most vulnerable, least momentum situations for the oscillators, the upward momentum of the dominant Blue will exert its influence while Black completes its turn. But once it starts it down move, Black vs Blue will play out for the rest of the day.
In the EOD charts, we see that the upward move of the fast oscillators of this daily scale has induced a turn on the EOD Pink. Whether this upward tick has any sustained momentum we will know in the next couple of days. Here the dominant EOD Black is gathering downward momentum.

Have A Great Day!

In the End-of-Day chart for NASDAQ composite at the close of yesterday, shown below, the downward pressure is clear. 

In the last blog, while discussing the EOD charts, I had mentioned that the move by the fast oscillators will decide whether the EOD Black or the EOD Pink will get an upper hand at their respective turning points. From the EOD chart for Nasdaq Composite shown below from yesterday, we can see that the fast oscillators of this daily time scale still have downward momentum left.

In the intraday 15-min closing chart for the Nasdaq composite shown below, we find that the oscillators are weakening. The Black and the Pink oscillators have very low magnitude. The Blue oscillator is languishing at its turning point.

The downward move of the intraday Pink in the morning session yesterday, delayed the turning of the Black. The recovered that gathered momentum after the upward crossing point in the day lost out towards close as Pink turned downwards. In the intraday chart for Nasdaq at close of yesterday, we see that Pink is still heading down.

The pressure from End-of-Day chart oscillators and the intraday Black and Blue oscillators, kept the Nasdaq composite in negative territory for most of Tuesday. As we can see from the intraday chart at close below, the recovery in the afternoon came from the intraday residue (top right panel) and the intraday Pink oscillator (top left).

After a weaker volume Passover week, let us look at how the oscillators for the Nasdaq composite stand as we continue with the earnings season. First the End-of-Day chart.

As we move into the thick of earnings season, please be extra cautious with your overnight trade decisions. 

In the 15-minute intraday closing chart for the Nasdaq Composite, we see that the Green oscillator, in the top left panel, which is the faster component of the Pink oscillator started an upward move by the end of Tuesday.

But once this Green also reverses, we will have a tandem downward move from the Pink and the Black downwards for the day. We have nearly equal number of positive and negative alerts open in the ticker table. Notice how the Pink oscillator seems to have slowed down at this point because of the opposing moves of its two components. The picture is somewhat similar for the Pink oscillator of the daily time scale in the End-of-Day charts as well.

But here it is the Violet component of the Pink that had brought about its down move. This Violet is now nearing its bottom even as it crosses the Black oscillator here downwards. The Green component which is significantly larger here is just beginning to turn. And turning points with least momentum are the most vulnerable for the oscillators. As the momentum of the Pink oscillator weakens till the Green also turns decisively downwards, the upward moving Black could call the shots for the closing in the interim.
Have A Great Day!
To Learn More About Our System, Please Check Out Our Illustrated Manual

Over the weekend, the charts have shown clear turn in the direction of the dominant Pink in the End-of-Day charts for the Nasdaq Composite as shown below.

With the Black oscillator of this daily closing data time scale yet to gather enough upward momentum, the Pink is bound to exert influence first.
Let us check the intraday 15-minute charts at close of Monday to see how the oscillators there are poised for Tuesday.

In the bottom left panel, we can see that the Daily Model (golden color) which is the longest term indicator in these charts has flattened out. In the bottom right panel, the Daily Residue in gray lingers near the zero line while the Blue is still heading down. The Black oscillator, which can be seen more clearly in the top left panel, has lost its momentum. So has the Violet component of the Pink oscillator which spent most of Monday trying to turn upwards. Unless there is a strong upward move from the Pink today morning, Black will turn downwards as it is due. With the intraday residue in the top right panel out of its upper boundary line, we have a good chance of a downward open on Tuesday.
Have A Great Day!

To Learn More About Our System, Please Check Out Our Illustrated Manual