Jul

12

Something I have been listening to lately is More than Mozart by Richard Freedman, which is part of the Portable Professor Series put out by Barnes & Noble Audio. In this excellent course, Prof. Freedman says near the beginning:

"music stresses movement through time, and engages our suggestive sense of its passing. Music has a tendency to invoke goals of various sorts, both near and far. Music has closure, a sensation not just of ending but of expecting no more."

I find this a very good way of looking at the markets also. Let's take the Dax futures for example, which were hovering above 8,000 on Tuesday at 13:50 with the tendency of staying around the round number until they are ready to move up. That tendency was so felt by the audience of traders that they immediately knocked the futures down to 7900 in a minute in order to profit from the rise. The goal was then to get back above 8,000, to Friday's close of 8,108, or Monday's close of 8,145. They are now back to 8,116, and that provides closure.

As the Prof. says, "music also has ascent," and today, the Dow set a quadruple top at 13,600, then went below 13,500 to set up further contrast. That done, the goal was to pass 13,650, which it did, getting all the way to 13,869. As I write, the target of the ascent would seem to be 14,000, and I don't doubt that it will be reached.

I can highly recommend Prof Freedman's course, not only for its market value, but for its humble presentation of musical textures, melody, rhythm and meter, and harmony.


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