Daily Update 5/24/06

YI: -1.5

Possible bottom forming in this area for: CDE, PDE, and RMBS
Trying to bottom out here: CLF, IIT, MFE, MTU, and SMTC
Extremely oversold at this point is: MFLX
Standard oversold now: SHI
Moderately oversold at this point: AHO, BAA, the DRG index, EWI, NTES, PPG, RHAT, SKS, and WGII
Trying to hold some rising trend line support: AMN, IRF, and KMX
Trying to hold some falling trend line support: CAKE, CHC, MDT, and MMC
Now trying to break above some falling trend line resistance: BAA, the BKX index, the DJ-30, EWA, EWP, GFI, GOOG, HIT, IIT, MSO, the OEX index, OGE, PHG, RNR, and the S&P-500
Attempting to break above the 28 DMA here: ABX, AEM, and AMZN
Standard overbought at this point: CPB
To a sell: The XAU index at 3 PM yesterday.
Anything posted here may be off base.