The Sleep of No Dreaming Lyrics

Lyric discussion by Evilswine 

Cover art for The Sleep of No Dreaming lyrics by Porcupine Tree

I guess looking through the circle of rope means he narrowed his vision and expectations. Although a circle of rope reminds me of a noose as well.

Of course it's a noose. This is an absolutely great line, cause "regarding the cosmos" always suggests admirirng the stars, adoring them, dreaming about something. Yet he does it while looking "through the circle of rope", hence - contemplating suicide at the same time.