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To: R Stevens who wrote (200)	6/15/1998 11:03:00 PM
From: ftth	Respond to of 237

Hi RS, for the minor pattern that confirmed today, the head peak day was 4/22. The trough at the left shoulder was 4/7 and the trough at the right shoulder was 4/27. The left shoulder peak was 4/3 and the right shoulder peak was 5/4. 5/21 was the first closing penetration of the neckline. Today's action basically erased the rally off the lows on Friday's hammer (another failed friday hammer). People use various measures to denote confirmation of a breakdown on the right shoulder. For example, 3 or 4% below the neckline level on the first penetration day is one of the most common (but you have to weigh that against chart support areas). I like the CLOSE on the neckline penetration day, rather than the neckline level, as the reference. I'm also experimenting with using the level of the lower 3-standard deviation Bollinger band on the neckline penetration day as the reference level it must close below convincingly, but it's only an experiment. For the length of the Bollinger Band average I'm using ratios of measurements on the pattern. The larger H&S I spoke of has the same peak head day, and 10/14 was the left shoulder peak. Haven't penetrated deep enough yet to say we're on our way to completing the larger pattern. A close below about 1675 would do it (which just happens to be the minimum objective of the minor pattern). dh