La So Mi Re Do ? The markets are steppin’ and a-trippin’

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}
]

滄海一聲笑

3 thoughts on “La So Mi Re Do ? The markets are steppin’ and a-trippin’

  1. Lyrics to the song:
    (will try to translate, but as the lyrics have a certain chivalrous wu-wei/non-action shade to it, need to sit/think on it a little more)

    曲:黃霑
    詞:黃霑

    滄海(一聲)笑 滔滔兩岸潮
    浮沉隨浪只記今朝

    蒼天笑 紛紛世上潮
    誰負誰勝出 天知曉

    江山笑 煙雨遙
    濤浪淘盡紅塵俗世知几多骄

    清風笑 竟惹寂寥
    豪情還賸了一襟晚照

    蒼生笑 不再寂寥
    豪情仍在痴痴笑笑 啦……

  2. The S&P futures yesterday (Tuesday) opened trying to reach the higher half-note of Ti (1028), before crashing back down through La (1014) without as much as a backward glance. It halted for the briefest of moments to catch its breath at unsurprisingly, a time-interval rotation at So (1005.5); before easing into the closing stretch approaching and stopping just short of Mi (995) at US close.

    Today (Wednesday), Asia and Europe markets decisively broke their Mi levels and remained below them throughout their sessions. We’ll see what US does today/tonight: take out Mi and go for Re ?

    In any case, looks like the sleepy slumber of summer is truly over. While breadth and volume participation in the cash markets (S&P500) may be attributed to dubious machinations in the less than desirable financial/agency names, volume in the futures have gloriously broken out.

    Welcome to the hurricane-halcyon days of autumn.
    This can make or break the year…

  3. Pingback: Sevens and other Numbers « Autumnal dust…

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