NEW YORK (TheStreet) -- The Nasdaq will likely confirm its 'death cross' on Monday or Tuesday, and all five major U.S. equity averages will be trading with their 50-day simple moving averages below their 200-day simple moving averages. These technical warnings indicate the risk that additional stock market downside lies ahead. For investors, this solidifies the strategy to sell strength.

Here are the latest daily charts and trading levels for the iShares Russell 2000 ETF (IWM) - Get Report , the SPDR Dow Jones Industrial Average ETF (DIA) - Get Report , the SPDR S&P 500 ETF Trust (SPY) - Get Report and PowerShares QQQ Trust ETF (QQQ) - Get Report .

Here's the daily chart for the small-cap iShares Russell 2000 ETF.


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The small-cap ETF had a close on Friday of $111.42, well below the "death cross," with the 50-day simple moving average of $117.89 below the 200-day simple moving average of $121.27 as the zone of technical resistances. The"Black Monday" low of $108.26 is the low end of the trading range.

Note that the volatility on Friday began with a price gap higher in a positive reaction to Fed Chief Janet Yellen's speech that indicated that the Federal Open Market Committee would raise the federal funds rate before the end of the year. The ETF opened above the 23.6% Fibonacci Retracement of the decline from the all-time high of $129.10 set on June 24 to the 'Black Monday' low of $108.26. The close on Friday was below Thursday's low, which is a technical warning.

The downside risk is to key levels on technical charts of $97.04 and $94.97 -- in play until the end of the year.

Here's the daily chart for "Diamonds," the ETF for the Dow Jones Industrial AverageI:DJI.


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Diamonds had a close of $162.88 on Friday, down 8.4% year to date, with the ETF under a "death cross," with the 50-day simple moving average of $169.65 below the 200-day simple moving average of $176.40.

The horizontal lines are the Fibonacci Retracements of the decline from the all-time high of $183.35, set on May 20, and the "Black Monday" low of $150.57. The vertical line is July 29, the date of the prior FOMC meeting. Note that a key level for this week is at $155.30.

Friday's gap open on Yellen and positive earnings from Nike (NKE) - Get Report was filled on afternoon weakness, and the close was below the 38.2% retracement of $163.05.

The downside risk is to key levels on technical charts of $150.80 and $145.21, in play until the end of the year. Note that the "Black Monday" low of $150.57 tested the first of these key levels.

Here's the daily chart of the "Spiders," the ETF that tracks the performance of the S&P 500I:GSPC .


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Spiders had a close of $192.85 on Friday, down 6.2% year to date, with the ETF under a "death cross," with the 50-day simple moving average of $202.48 below the 200-day simple moving average of $206.61.

The horizontal lines are the Fibonacci Retracements of the decline from the all-time high of $213.78, set on May 20, and the "Black Monday" low of $182.40. The vertical line is July 29, the date of the prior FOMC meeting.

Note that the S&P 500 ETF gapped higher at Friday's open above the 38.2% retracement of $194.40. The gap was filled and the close was fractionally lower on the day, as the 23.6% of $189.80 is the next key support.

The downside risk is to key levels on technical charts of $158.52 and $155.57, in play until the end of the year. Note a key level for this week is at $186.14.

Here's the daily chart of the "QQQs," the ETF that follows the Nasdaq 100 Index.


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QQQs had a close of $102.92 on Friday, down 0.2% year to date, and below its 50-day and 200-day simple moving averages of $107.65 and $106.92, respectively -- not yet confirming a "death cross."

The horizontal lines are the Fibonacci Retracements of the decline from the all-time high of $114.39, set on July 20, just before the July 29 FOMC meeting and the "Black Monday" low of $84.74. The vertical line is July 29, the date of the prior FOMC meeting.

Note that the QQQ ETF gapped higher at the open on Friday, then filled the gap and closed just below the 61.8% retracement of $103.09.

The downside risk is to key levels on technical charts of $89.42 and $78.81, in play until the end of the year. Note that the "Black Monday" low of $84.74 tested the first of these key levels. A key level for this week is at $98.69.

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