The momentum behind the stock market's "Trump rally" has slowed and none of the major averages set new highs on Friday. This kept the exchange-traded funds that represent Treasury bonds, gold bullion, utility stocks and junk bonds within trading ranges. A headline for this morning is that Comex gold is trading at a new 2017 high.

The best investment for 30-year U.S. Treasury bonds is the 20+ Year Treasury Bond ETF (TLT) - Get Report . Gold bullion is best represented by the SPDR Gold Shares ETF (GLD) - Get Report . Investors seeking dividends invest in the Utilities Select Sector SPDR Fund (XLU) - Get Report . Investors in high-yielding bonds favor the SPDR Barclays High Yield Bond ETF (JNK) - Get Report .

Here's how the underlying investments are performing now.

The yield on the 30-year U.S. bond rose to as high as 3.215% on Dec. 12, then declined to as low as to 2.902% on Jan. 12, establishing a trading range. Above the range are semiannual value levels at 3.302% and 3.467% with an annual value level of 4.137%. My weekly, quarterly and monthly risky levels are 2.991%, 2.790% and 2.536%, respectively, with an annual risky level of 2.276%.

Comex gold futures traded as low as $1,124.3 the Troy ounce on Dec. 15, then rebounded to as high as $1,227.5 on Feb. 2, expanding the trading range. Gold is back above my quarterly and monthly pivots or magnets at $1,196.0 and $1,212.4, respectively, with a weekly value level of $1,202.1. My semiannual value levels are $918.7 and $727.5, with quarterly and monthly pivots at $1,196.0 and $1,212.4, respectively, with annual risky levels at $1,660.1 and $1,674.1.

The Dow utility average bottomed at 616.19 on Nov. 14, then rebounded to as high as 669.10 on Jan. 31, widening the trading range. The utility average is between its 50-day simple moving average of 652.83 and its 200-day simple moving average of $668.13. My quarterly pivot is 640.73, with my annual pivot of 679.56, a weekly risky level of 673.40, and a semiannual risky level of 732.33.

The S&P 500 SPDR ETF (SPY) - Get Report has a gain 2.6% year to date, up from 2.4% on Jan. 27. The "flight to safety" investments ended last week with the U.S. Treasury bond down 0.1% year to date and the gold ETF up 5.9%, vs. a rise of 0.4% and 3.5% year to date, respectively, on Jan. 27. The utilities ETF has a gain of 0.7% year to date vs. a loss of 0.4% year to date on Jan. 27.

Investors can trade the U.S. Treasury 30-year bond like a stock using the 20+ Year Treasury Bond ETF, which is backed by a basket of U.S. Treasury bonds with maturities of 20 years to 30 years. As a stock-type investment, it never matures, and interest income is converted to periodic dividend payments.

Here's the weekly chart for the bond ETF.

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Courtesy of MetaStock Xenith

The weekly chart for the bond ETF has been upgraded to neutral from negative but oversold, with the ETF below its key weekly moving average of $120.38 and below its 200-week simple moving average of $120.25, the "reversion to the mean," which has been a magnet since the week of Nov. 18. The weekly momentum reading rose to 20.64 last week, up from 18.49 on Jan. 27, moving above the oversold threshold of 20.00.

Investors looking to buy the bond ETF should consider buying weakness to $115.92 and $105.77, which are key levels on technical charts until the end of June and until the end of 2017, respectively. Investors looking to reduce holdings should do so on strength to $126.87, which is a key level until the end of March.

Investors can trade gold like a stock using the SPDR Gold Shares ETF, which is backed by gold bullion. Here's the weekly chart for the gold bullion ETF.

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Courtesy of MetaStock Xenith

The weekly chart for the gold ETF remains positive, with the ETF above its key weekly moving average of $113.83 and below its 200-week simple moving average of $119.47, last tested as the "reversion to the mean" during the week of the election, when the average was $122.02. The weekly momentum reading rose to 38.45 last week, up from 29.08 on Jan. 27.

Investors looking to buy the gold ETF should consider buying weakness to $113.82, which is a key level on technical charts until the end of March. Investors looking to reduce holdings should do so on strength to $124.00, which is a key level on technical charts until the end of February.

Investors seeking the safety of dividends can trade the Utilities ETF, which is a basket of 28 utility stocks. Here's the weekly chart for the Utilities ETF.

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Courtesy of MetaStock Xenith

The weekly chart for the utilities ETF remains positive, with the ETF above its key weekly moving average of $48.46 and above its 200-week simple moving average as support at $43.85. The weekly momentum reading rose to 72.88 last week, up from 69.86 on Jan. 27.

Investors looking to buy the utilities ETF should do so on weakness to $46.26, which is a key level on technical charts until the end of March. Investors looking to reduce holdings should consider selling strength to $49.94 and $50.72, which are key levels on technical charts until the end of February and the end of 2017, respectively. A semiannual risky level is $54.29.

The SPDR Barclays High-Yield Bond ETF is for investors betting that junk bond yields will tighten against U.S. Treasury securities. Remember that the performance of junk bonds correlates more to the stock market, not to the bond market, hence the recent tightening of spreads.

Here's the weekly chart for the junk bond ETF.

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Courtesy of MetaStock Xenith

The weekly chart for the junk bond ETF remains positive but overbought, with the ETF above its key weekly moving average of $36.67. As a sign of a continuing junk bond bubble, the ETF remains well below its 200-week simple moving average of $38.32. This ETF has been below this "reversion to the mean" since the week of Nov. 14, 2014, when the average was $40.08. The weekly momentum reading rose to 89.56 last week, up from 86.55 on Jan. 27, moving further above the overbought threshold of 80.00.

Investors looking to buy the junk bond ETF should do so on weakness to $35.14 and $34.01, which are key levels on technical charts until the end of June and the end of March, respectively. Investors looking to reduce holdings should do so on strength to $37.58, which is a key level on technical charts until the end of February. My annual value level is $27.60 with an annual risky level of $43.98.

This article is commentary by an independent contributor. At the time of publication, the author held no positions in the stocks mentioned.