J SogiIf you look at a guitar string in slow motion, you will see the vibrations of the string around an axis. As the player frets the notes, the locus of vibration changes. On a more micro level, a graph of the sound waves themselves display a variation around an axis. When playing in a musical group in improvisation the player must use his ear to determine the correct key. The improvisations vary above and below the correct key in pleasing intervals, and eventually resolve back to the tonic key.

Such a model seems useful in current markets with the prices fluctuating around a tonic "key". We have discussed the 1250 key before, but as the music and market progresses it important to be in the correct, but ever changing key. Determining the range of variation or intervals is important to playing the rights notes in sync with the other musicians. In a Wykoffian fashion, the market appears to have jumped up an octave. Classical composers used similar techniques in building up a theme, jumping to higher and higher levels, in a repeating pattern. The quantifications are quite simple to measure but much of the process is in ear trainging, and timing. Timing is another, but quite important element in playing music and markets.





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