The equity markets have been doing a march-in-place in even time for the last week, almost staccato-like. Of course, in the week prior to that, markets danced a graceful glissando in a quick climb through their scales (arguably 7 levels-notes of resistance/support on the charts; 5 if I leave out two minor levels).
One wonders if the current ranging may be a marking of time before rising to a further crescendo. Or perhaps a halt is being called on a short-term top; and we may be seeing the start of a downward stepping through the scales.
If so, rather than down through the 7 notes/levels, this return may take the faster path through the 5 pentatonic tones of traditional Chinese music :
宮 商 角 徵 羽
Do Re Mi So La
Here is a famous tune based on the simple arrangement of stepping down the traditional chinese musical scale:
(first line is an even stepping-down, 2nd line a rescaled stepping-down, 3rd line slows with a repetitive range before the obligatory returning rise)
La So Mi Re Do
Mi Re Do La So
So La So La Do Re Mi So
http://www.youtube.com/watch?v=POdkgAIJBWU&feature=related
[The above tune/song is from the Tsui Hark movie, “The Swordsman“; based on the Jin Yong novel, 笑傲江湖 (The Smiling, Proud Wanderer).
Music composed by Jim Wong. Song title is 《滄海一聲笑》 or A Laugh at the Sentient Seas.
There is an interesting story behind how the composer came up with the music+lyrics for the song. Will add later.
{Song is sung above in the Cantonese dialect, which is one of the Chinese dialects still allowing a full enunciation of the traditional five tones used in Chinese music, lyrical and poetry verse for thousands of years. Note that PuTongHua or Standard Mandarin uses only 4 tones (though there exist a fifth light tone); many Chinese traditionalists, especially of the arts, have lamented the loss of the all-important fifth tone in the modern Chinese world of increasingly predominantly Standard Mandarin users}
]