NEW YORK ( TheStreet) -- The yield on the U.S. Treasury 30-Year bond rose by 13.5 basis points on Friday to 2.954% following the so called solid employment report for April.Dow Industrials, S&P 500 and Russell 2000 set new all-time highs with the Nasdaq setting a new multi-year high. Dow transports did not set a new all-time high. As a result of higher yields, higher stocks prices and the benchmark revisions we begin the first full week of May with a ValuEngine Valuation Watch with 62.9% of all stocks overvalued. With significant changes occurring overnight several brand names stocks have been downgraded to hold from buy including these two: Apple ( AAPL) ($449.98 vs. $385.10 on April 19) is no longer a value play even though the stock is 13.4% undervalued. With a projected 12 month gain down to 4.1% the rating has been peeled to hold from buy. If you are a momentum trader the weekly chart profile is now positive with the five-week modified moving average at $434.92. My weekly value level is $436.93 with semiannual risky level at $470.21. Caterpillar ( CAT) ($86.98 vs. $79.49 on April 22) has outrun its 12 month price target at $84.12 hence the downgrade to hold from buy. If you are a momentum trader the weekly chart profile is now positive with the five-week modified moving average at $86.46. My weekly value level is $81.05 with a monthly risky level at $90.84.