The Technology Select Sector SPDR Fund (XLK) - Get Report is outperforming the S&P 500 I:GSPC both year to date and so far in the fourth quarter, led by the four largest holdings of this exchange-traded fund. The leaders, Apple (AAPL) - Get Report , Microsoft (MSFT) - Get Report , Facebook (FB) - Get Report and Alphabet (GOOGL) - Get Report  represent a 42% weighting among the 77 stocks in this ETF. The strength of these four stocks has offset the technology stocks that have declined into bear market territory.

Investors interested in tech stocks can choose among the 77 stocks in this ETF. Investors who picked the top four at the beginning of the year have market-beating gains.

But to eliminate the risk of stock picking, investors should consider buying the technology ETF.

Here are the weekly charts for the ETF and its top four holdings. First, here's the weekly chart for technology ETF.


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The Technology Select Sector SPDR Fund closed Tuesday at $43.95, up 11.3% so far in the fourth quarter and up 6.3% year to date. It set an all-time high of $44.57 on Nov. 5.

The weekly chart is positive but overbought, with the ETF above its key weekly moving average of $43.01. Weekly momentum is projected to slip to 90.14 this week, up from 90.70 on Nov. 20, with both readings significantly above the overbought threshold of 80.00.

Investors looking to buy the XLK ETF should place a good-till-canceled limit order to buy the ETF if it drops to $41.00, which is a key level on technical charts until the end of November.

Investors looking to reduce holdings should place a good-till-canceled limit order to sell the ETF if it rises to $46.52, which is a key level on technical charts until the end of 2015.

Here's the weekly chart for Apple.


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Apple closed Tuesday at $118.88, up 7.8% so far in the fourth quarter and up 7.7% year to date. It set an all-time high of $134.554 on April 28.

The weekly chart is neutral, with the stock above its key weekly moving average of $116.91. Weekly momentum is projected to decline to 73.67 this week, down from 76.07 on Nov. 20.

Investors looking to buy Apple should place a good-till-canceled limit order to buy the stock if it drops to $113.46, which is a key level on technical charts until the end of November.

Investors looking to reduce holdings should place a good-till-canceled limit order to sell the stock if it rises to $131.03, which is a key level on technical charts until the end of 2015.

Here's the weekly chart for Microsoft.


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Microsoft closed Tuesday at $54.25, up 22.6% so far in the fourth quarter and up 16.8% year to date. It set a multiyear high of $54.98 on Nov. 6.

The weekly chart is positive but overbought, with the stock above its key weekly moving average of $51.62. Weekly momentum is projected to rise to 89.16 this week, up from 88.06 on Nov. 20, with both readings significantly above the overbought threshold of 80.00.

Investors looking to buy Microsoft should place a good-till-canceled limit order to buy the stock if it drops to $50.76, 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 stock if it rises to $58.69, which is a key level on technical charts until the end of this week.

Here's the weekly chart for Facebook.


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Facebook closed Tuesday at $105.74, up 17.6% so far in the fourth quarter and up 35.5% year to date. It set an all-time high of $110.65 on Nov. 5.

The weekly chart is positive but overbought, with the stock above its key weekly moving average of $102.04. Weekly momentum is projected to slip to 86.18 this week, down from 87.66 on Nov. 20, with both readings significantly above the overbought threshold of 80.00.

Investors looking to buy Facebook should place a good-till-canceled limit order to buy the stock if it drops to $99.52, which is a key level on technical charts until the end of November.

Investors looking to reduce holdings should place a good-till-canceled limit order to sell the stock if it rises to $110.84, which is a key level on technical charts until the end of 2015. This level was tested at the high.

Here's the weekly chart for Alphabet, formerly known as Google.


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Alphabet closed Tuesday at $769.63, up 20.6% so far in the fourth quarter, and up 45% year to date. It set an all-time high of $782.90 on Nov. 23.

The weekly chart is positive but overbought, with the stock above its key weekly moving average of $731.65. Weekly momentum is projected to rise to 88.41 this week, up from 86.94 on Nov. 20, with both readings above the overbought threshold of 80.00.

Investors looking to buy Alphabet should place a good-till-canceled limit order to buy the stock if it drops to $744.91, 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 stock if it rises to $812.28, which is a key level on technical charts until the end of this week.

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