Charts As The Market Soars!
Markets have soared today. That gives us a chance to look at a few charts of NASDAQ Composite for some quick analysis.
First consider the the intraday charts for the composite (COMP) at close yesterday (7/21) below.
Notice the crossing point indicated in the bottom right chart.
We have already seen the importance of crossing points in a previous blog here: http://orthochronos.posterous.com/crossing-point-of-indicators.
With the dominant daily residue (gray) and Red moving upwards, the upside open today was not much of a surprise. In our definition, "dominance" is a combination of magnitude and correlation. Of course, this being the earnings season all the movements tend to be amplified!
Now consider the COMP chart at open today. As we saw in the AAPL charts yesterday (http://orthochronos.posterous.com/aapl-for-the-day), the impact of price movement at open reflects first on the fastest oscillators.
However, the transfer of momentum to the Mid Pink Oscillator and the Slower Oscillators is very interesting and in contrast to what happened in the case of AAPL.
We can see that the initial upward motion of fastest oscillators is reflected in the Pink, Red and Blue as we reach noon today (7/22). Notice also how the daily residue (gray) in the bottom right has moved.
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First consider the the intraday charts for the composite (COMP) at close yesterday (7/21) below.
Notice the crossing point indicated in the bottom right chart.
We have already seen the importance of crossing points in a previous blog here: http://orthochronos.posterous.com/crossing-point-of-indicators.
With the dominant daily residue (gray) and Red moving upwards, the upside open today was not much of a surprise. In our definition, "dominance" is a combination of magnitude and correlation. Of course, this being the earnings season all the movements tend to be amplified!
We can see that the initial upward motion of fastest oscillators is reflected in the Pink, Red and Blue as we reach noon today (7/22). Notice also how the daily residue (gray) in the bottom right has moved.
