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Trading Index ETFs: Semiconductors and Utilities Are in the Lead

Stocks in this article: DIAIWMIYTQQQSMHSPYTLTXLU

NEW YORK (TheStreet) -- Today we profile eight exchange-traded funds that closely track major equity indices and U.S. Treasury bonds. At the end of April, utilities were in the lead, but then market leadership shifted to bonds and then to transports. We are now in the final stretch of the first half of 2014 with semiconductors leading utilities by a nose.

Transports are in position to be a part of a trifecta as bonds have been fading since the end of May. The Dow Jones Industrial Average, S&P 500, Nasdaq, Nasdaq 100 and Russell 2000 have never been in contention.

Here are the profiles for the eight ETFs followed by two "Crunching the Numbers" tables.

SPDR Dow 30 ETF (DIA) ($169.09, up 2.2% year to date) set an all-time intraday high at $169.58 on June 9 and has been above its 200-day simple moving average now at $160.39 since setting its 2014 intraday low at $153.12 on Feb. 5.

This ETF, also known as "Diamonds," has a positive but overbought weekly chart with its five-week modified moving average at $166.60. Semiannual and quarterly value levels are $167.82 and $164.18, respectively, with a monthly risky level at $174.58.

SPDR S&P 500 ETF (SPY) ($196.48, up 6.4% YTD) has been above its 200-day SMA now at $181.73 since November 2012 and set an all-time intraday high of $196.60 on Thursday.

The weekly chart is positive but overbought with its five-week MMA at $191.79 and has been above its 200-week SMA now at $146.28 since October 2011. Quarterly and semiannual value levels are $185.03 and $179.50, respectively, with a weekly pivot at $195.18 and a monthly risky level at $202.42.

PowerShares QQQ Trust ETF (QQQ) ($92.91, up 6.1% YTD) set a multiyear intraday high at $93.17 on Thursday and has been above its 200-day SMA now at $85.79 since the beginning of 2013.

The weekly chart is positive but overbought with its five-week MMA at $90.48. Semiannual value levels are $84.59 and $84.58 with a weekly pivot at $93.10 and monthly risky level at $96.86. The pivot was crossed several times at Thursday's high.

iShares Transportation ETF (IYT) ($147.06, up 12% YTD) set an all-time intraday high at $148.18 on June 9 and has been above its 200-day SMA now at $130.88 since December 2012.

The Transport ETF has a positive but overbought weekly chart with its five-week MMA at $142.70. Monthly and semiannual value levels are $144.40 and $132.17, respectively, with a weekly risky level at $147.16, which is below the all-time high.

iShares Russell 2000 ETF (IWM) ($117.86, up 2.2% YTD) had been trading back and forth around its 200-day SMA now at $112.18 between April 14 and June 4 and traded as high as $118.23 on Thursday.

The weekly chart is positive with its five-week MMA at $114.36 and has been above its 200-week SMA now at $88.09 since October 2011. Weekly and semiannual value levels are $113.14 and $112.41, respectively, with monthly and semiannual risky levels at $120.72 and $126.66, respectively.

Utilities Sector ETF (XLU) ($44.11, up 16% YTD) set a multiyear intraday high at $44.16 on Thursday and has been above its 200-day SMA now at $39.69 since Feb. 6.

The weekly chart is positive with its five-week MMA at $42.65. Weekly and annual value levels are $42.74 and $41.19, respectively, with no risky levels until next week.

Semiconductor Sector ETF (SMH) ($49.36, up 16% YTD) set an all-time intraday high at $49.37 on Thursday and has been above its 200-day SMA now at $42.83 since the beginning of 2013.

The weekly chart is positive but overbought with its five-week MMA at $46.82. Weekly and semiannual value levels are $46.86 and $42.71, respectively, with a monthly pivot at $48.51 and semiannual risky level at $49.81.

iShares 20+ Year Treasury Bond ETF (TLT) ($110.96, up 8.9% YTD) began 2014 trading as low as $101.76 on Jan. 3 after setting a multiyear low at $101.17 on Dec. 31. The bond ETF has been above its 200-day SMA now at $107.17 since March 13. It traded as high as $115.19 on May 29 and has since faded below its 50-day SMA at $111.79.

The weekly chart is negative with the ETF between its 200-week SMA at $110.35 and its five-week MMA at $111.66. We will not have a value level until next week with a monthly pivot at $111.22 and annual and quarterly risky levels at $114.99 and $115.64, respectively. The high was a failed test of the first risky level.

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