A stronger-than-expected employment report for October had the markets spinning last week with a fresh dose of volatility. Strategists now say that a rate hike by theFederal Reserve seems likely after the Dec. 15 to 16 Federal Open Market Committee meeting.

On the news, the yield on the U.S. Treasury 30-year bond rose to 3.10% vs. the June 26 high yield of 3.25%. Comex Gold futures declined to $1,084.5 vs. the July 24 low of $1,072.3. Nymex crude oil declined but remains above a short-term uptrend connecting the lows of $37.75 set on Aug 24 through the low of $42.58, set on Oct. 27. The euro vs. dollar slumped to 1.0706 as compared to the low of 1.045,6 set on March 16.

Let's take a look at the weekly charts of the four exchange-traded funds that are the way to trade these markets like stocks.

Here's the weekly chart for the bond ETF.


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The 20+ Year Treasury Bond ETF (TLT) - Get Report , which is a basket of U.S. Treasury bonds with maturities of 20 or more years, up to 30 years, had a close of $119.00 on Friday, down 3.7% so far in the fourth quarter and down 5.5% year to date.

The weekly chart has been negative negative since Oct. 30, with the ETF below its key weekly moving average of $122.08. The 200-week simple moving average of $117.65 remains a key level to hold on weakness. The weekly momentum reading declined to 42.98 last week, down from 49.47 on Oct. 30.

Investors trading the bond ETF from the long side added to positions at last Friday's open of $119.49, which was below $120.33, where the good till canceled limit order was placed to buy.

Investors looking to buy the bond ETF should place a good till canceled limit order to buy the ETF if it drops to $117.11 and $115.58, which are key levels on technical charts until the end of November and the end of the year, respectively.

Investors looking to reduce holdings should place a good till canceled limit order to sell the ETF if it rises to $129.58 and $132.13, which are key levels on technical charts until the end of 2015.

Here's the daily chart for the gold exchange-traded fund.


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The SPDR Gold Shares ETF (GLD) - Get Report , which is backed by gold bullion, had a close of $104.10 on Friday -- down 2.6% so far in the fourth quarter and down 8.3% year to date.

The weekly chart has been negative since Oct. 30 and remains so, with the ETF below its key weekly moving average of $108.79, and well below its 200-week simple moving average of $133.84. The weekly momentum reading fell to 60.52 last week, down from 70.00 on Oct. 30.

Investors trading the gold ETF from the long side added to positions at last Friday's open of $104.17, which was below $105.02, where the good till canceled limit order was placed to buy.

Investors looking to buy the gold ETF should place a good till canceled limit order to buy the ETF if it drops to $102.3, which is a key level on technical charts until the end of 2015.

Investors looking to reduce holdings should place a good till canceled limit order to sell the ETF if it rises to $111.98, which is a key level on technical charts until the end of this week.

Here's the daily chart for the commodity index ETF.


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The iShares GSCI Commodity-Index Trust Fund (GSG) - Get Report , which is 70% to 75% weighted to energy and crude oil, had a close of $16.61 on Friday, down 2.8% so far in the fourth quarter, and down 23% year to date.

The weekly chart shifted to negative from neutral last week, with the ETF below its key weekly moving average of $17.20, and well below its 200-week simple moving average of $29.26. The weekly momentum reading declined to 40.36 last week, down from 41.55 on Oct. 30.

The commodities ETF needed to have a weekly close above a key technical level of $17.62, but the week's high of $17.38 had no follow-through, providing a warning. Note that this ETF has been below its post-crash-of-2008 low of $21.85, set in February 2009, since May 15.

Investors looking to reduce holdings should place a good till canceled limit order to sell the ETF if it rises to $24.02 and $25.38, which are key levels on technical charts until the end of 2015.

Here's the daily chart for the dollar index ETF.


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The Deutsche Bank USD Index (UUP) - Get Report , which is basket of currencies including the euro, Japanese yen, British pound, Canadian dollar, Swedish krona and Swiss franc, had a close of $25.82 on Friday, up 2.9% so far in the fourth quarter and up 7.8% year to date.

The weekly chart has been positive since Oct. 23 and stays positive, with the ETF above its key weekly moving average of $25.20, and well above its 200-week simple moving average of $22.81. The weekly momentum reading rose to 62.28 last week, up from 51.79 on Oct. 30.

The key to the upside was the breakout above a key technical level of $25.53, which occurred on Friday.

Investors looking to buy the dollar ETF should place a good till canceled limit order to buy the ETF if it drops to $24.03, which is a key level on technical charts until the end of 2015.

This article is commentary by an independent contributor. At the time of publication, the author held TK positions in the stocks mentioned.