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"Risk-off" investment strategies continue to outperform "risk-on" stock-related investments.

The U.S. Treasury bond exchange-traded fund, the gold ETF and the utility stocks ETF now have year-to-date gains of 8.2%, 21.4% and 12.8%, respectively, vs. 7.3%, 21.9% and 11.9% a week ago.

By contrast, the S&P 500 SPDR ETF (SPY) has a year-to-date gain of just 0.9%, down from 1.2% a week ago, as "risk-off," "flight-to-safety" investments outperform "risk-on" stock market investments.

The junk bond ETF had its year-to-date gain shaved to 2.3%, down from 4.1% year to date last week, as junk bonds followed stocks lower.

Investors can trade the U.S. Treasury 30-year bond like a stock using the 20+ Year Treasury Bond ETF  (TLT) , which is an ETF backed by a basket of U.S. Treasury bonds with maturities of 20 years to 30 years.

Investors can trade gold like a stock using the SPDR Gold Shares ETF (GLD) , which is backed by gold bullion.

Investors seeking the safety of dividends can trade the Utilities Select Sector SPDR Fund (XLU) , which is a basket of 29 utility stocks.

Investors betting that junk bond yields will tighten against U.S. Treasuries should consider the SPDR Barclays High Yield Bond ETF (JNK) .

Here's the daily chart for the bond ETF.

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Courtesy of MetaStock Xenith

The bond ETF ended last week at $130.45, up 8.2% year to date and down 3.5% from its Feb. 11 high of $135.25.

The daily chart shows horizontal lines which are the Fibonacci Retracement levels of the rise from the June 26 low of $114.88 to the Feb. 11 high of $135.25.

The ETF held its 38.2% retracement of $127.46 on March 11, March 16 and again on April 26, providing buying opportunities on weakness. The bond ETF traded as high as $132.99 on April 7, giving investors the opportunity to reduce holdings at my key technical level of $132.45. This level is in play until the end of 2016.

Investors looking to buy the bond ETF should do so on weakness to the 38.2% retracement of $127.46 and to the 50% retracement of $125.05.

Investors looking to reduce holdings should continue to do so on strength to $132.45, a level which remains in play until the end of 2016. My key level for May is $131.02, which was tested at last Thursday's high.

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There is a key level of $129.84, which remains a magnet until the end of June.

Here's the weekly chart for the gold ETF.

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Courtesy of MetaStock Xenith

The gold ETF ended last week at $123.18, up 21.4% year to date, after setting a new 52-week high of $123.96 on May 2.

The weekly chart is positive but overbought, with the ETF above its key weekly moving average of $119.32 and in position to challenge the 200-week simple moving average of $127.49. The gold ETF has been below its 200-week since the week of May 10, 2013, when the average was $140.53. The weekly momentum reading rose to 80.59 last week, up from 77.69 on April 29, moving above the overbought threshold of 80.00.

Investors looking to buy the gold ETF should do so on weakness to $118.13 and $115.64, which are key levels on technical charts until the end of this week and until the end of May, respectively.

Investors looking to reduce holdings should consider doing so on strength to the 200-week simple moving average, which is declining from $127.49.

Here's the daily chart for the utilities ETF.

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Courtesy of MetaStock Xenith

The utilities ETF ended last week at $48.83, up 12.8% year to date and down just 2.1% from its all-time high of $49.88, set on April 1.

The horizontal lines are the Fibonacci Retracement levels of the rise from Sept. 4 low of $40.80 to the April 1 high of $49.88. Last week the Dow utility average set a new all-time high, but the utilities ETF did not. The ETF stayed above its 23.6% retracement of $47.74.

Investors looking to buy the utilities ETF should do so on weakness to the 38.2% retracement of $46.41.

Investors looking to reduce holdings should do so on strength to $50.15, which is a key level on technical charts until the end of June.

Key levels of $48.60 and $48.94 should be magnets until the end of June and May, respectively.

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

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Courtesy of MetaStock Xenith

The junk bond ETF ended last week at $34.70, up 2.3% year to date and up 12.1% from its Feb. 11 low of $31.27. Even so, the ETF is in correction territory, 11% below its 52-week high of $39.48, set on May 8, 2015.

Note also the formation of a "death cross" on Sept. 15, 2014, which began the crash of junk bonds. A "death cross" occurs then the 50-day simple moving average declines below the 200-day simple moving average, indicating that lower prices would follow. This signal occurred with the junk bond ETF at $40.44, and tracked this exchange-traded fund to its Feb. 11 low of $31.27.

The horizontal lines are the Fibonacci Retracement levels from its May 9, 2013, high of $41.95 to the Feb. 11 low. Note how the rebound from the low failed at its 39.2% retracement of $35.34 on April 28. At this high, the ETF was above its 200-day simple moving average of $35.03, which failed to hold on May 3. The 50-day simple moving average is $34.36 and the 23.6% retracement is $33.78.

Declining prices for the junk bond ETF are a warning flag for stock prices.

Investors looking to buy the junk bond ETF should do so on weakness to $33.40 and $32.52, which are key levels on technical charts until the end of June and May, respectively.

Investors looking to reduce holdings should do so on strength to $35.41 and $37.53, which are key level on technical charts until the end of this week and until the end of June, respectively.

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