Daily Update 5/9/06

YI: +4

To a buy: The XAU hourly at noon yesterday.
Trying to bottom out: GNSS
Moderately oversold: QLGC
Trying to hold some rising trend line support: ERF, HMC, LSI, LSS, PBY, PDE, and the XAU index.
Attempting to hold the 28 DMA here: AU and NEM
Trying to break above some falling trend line resistance: NTES, TSY, WON, and the XNG index.
Attempting to break above the 28 DMA here: AMTD, JOSB, MOT, NST, SIFY, and THQI
Now up against some rising trend line resistance: BAC, the BKX index, GE, MU, NSM, RIG, and XLF
Moderately overbought at this point: AMAT, HPQ, TYC, and XLU
Standard overbought: The E-Mini 500, MTU, the OEX index, OGE, PLL, and TSM
Extremely overbought: ABX, EWG, RWJ, IRF, and PTR
A possible top may be forming in this area for: BA, C, CAT, the DJ-30, DVY, GT, HIT, and NWL
Probable top here: EWQ
To a sell: FXE
A break out in either direction is on the way for: LMT
Anything posted here may be off base.