Daily Update for 5/22/06

YI: 0 (Right on cue, the YI +0.5/-0.5 area turned out to be an area of support for the market, although it may turn out to be temporary.)

To a buy: FDP and the XAU hourly at 1 PM yesterday.
A possible bottom may be forming here for the IIX and the XCI index.
Trying to bottom out in this general area are: AA, ALEX, AMAT, ARM, AU, BBBY, BPOP, CREE, CSTR, ECA, ENER, FCX, GLW, IWM, KGC, LSS, MG136, NEM, NFI, NG, the OEX index, PDE, PHG, PNRA, REDF, RGLD, RIO, SFY, SIFY, the S&P-500, SPIR, SUN, SWC, THQI, WOR, WY, the XAU index, XLE, XLK, the XOI index, and YHOO
Standard oversold at this point: AMN, the BTK index, CLF, ERICY, FCX, GG, JOSB, NSC, SLV, and the VXO
Moderately oversold now: AEM, APPB, ARM, BKS, the BKX index, BMS, CHK, CLG, the DJ-30, DO, EWA, EWC, EWP, EWU, FTO, GR, HMY, IYM, LSI, MOT, NOK, PBY, PCU, PHI, PLL, PTR, QCOM, RDC, REDF, RIG, SCHW, SHI, SPC, SU, SYMC, TKR, and TTH
Now trying to hold some rising trend line support: BA, BHI, DVY, the E-Mini 500, EWU, GLG, IFN, NSM, NTES, PETM, PG, the 4Q, RHAT, RIG, and XLB
Trying to hold some falling trend line support here: AIG, EOG, and MG135
Attempting to hold on to the 28 day moving average: CMI, gold, and TXU
Now trying to break above some falling trend line resistance: GT, HIT, NWL, SU, VZ, and the XAU hourly.
Moderately overbought now: ENR
A break out in either direction is on the way for: BGF
Anything posted here may be off base.