A method and system or monitoring a resource consumption of an application running on a computer. A first metric describes the resource consumption of the application as a first function of time. A wavelet analysis of the first function of time is performed. A discontinuity in the first function is detected at a first time at which a coefficient determined from the wavelet analysis exceeds a specified threshold. A cross-correlation of the first metric and a second metric describing the resource consumption of the application as a second function of time are calculated. A diagnostic level associated with the discontinuity in the first function is adjusted based on the calculated cross-correlation. In response to adjusting the diagnostic level, a debugging function on the application is started in response to the cross correlation having a value indicative of an anomaly within the application.