automatic transmission problems
 

Check engine light is on, car will not go into overdrive and hold button does not work. Tried to run diagnostic check and no code was pulled concluding that there may be an electrical problem. Has anyone experienced this and, if so, what is the appropriate solution.

Is your hold light flashing? this is what indicates a transmission problem...sounds like it is "stuck" in hold with the overdrive not engaging...
The check engine light indicates an engine problem......
be sure you are checking for the right codes (ie. engine diagnostic/vs trans.diagnostic)

Have you gone through Section K of the factory service manual yet? If you don't have one, get one! You can download one for free from the sticky thread.

I am not sure how your CEL is on but you can get no code.....? Not to ask the obvious but...are you grounding the ten pin correctly and turning the ignition to 'on'?
Also, have you tried just disconnecting the battery and pressing on the brake, resetting the ECU? You might try that just for grins if you haven't.
If it the problem is transmission related, you will usually have the 'hold' light flashing, as stated previously by BigAl.

clear the code like bajaman said above. then drive it and see if it returns. get it checked by a trans shop (asap) and service it with synthetic fluid
Jeff