NEW YORK (TheStreet) -- The Dow Industrial Average (17,900) held its monthly technical level at 17,737 on Monday, helping the market to stabilize. The Dow set an all-time intraday high at 17,991.19 shortly before noon Friday. The S&P 500 (2077.98) is just below its all-time intraday high of 2079.47 set earlier Friday and is shy of its monthly technical level at 2089.3.

The Nasdaq (4769) and Dow Transportation Average (9119) set multiyear or all-time intraday highs on Nov. 28 at 4810.86 and 9319.33, respectively. Their monthly technical levels are 4784 and 9343, respectively.

The range of the monthly technical levels explains why the Santa Claus rally should continue to be a bumpy sleigh ride.

Safer investments such as the iShares Transportation Average ETF (IYT) , an exchange-traded fund that tracks the Dow Jones Utility Average, and U.S. Treasuries continue to provide solid gains.

Given continued market momentum, investors trading ETFs mentioned in this article should continue to employ exit strategies.

SPDR Dow Jones Industrial Avg ETF (DIA) ($179.68) is up 8.6% year to date and is well above its 50-day and 200-day simple moving averages at $171.58 and $167.86, respectively. Monday's low at $177.03 held the monthly technical level at $177.13, and Friday's high has been $179.81. The weekly chart is positive but overbought with its key weekly moving average at $174.80.

Investors should book profits by entering a good 'til canceled limit order to sell strength to a key technical level at $184.50. The sell-stop to lock in gains is the key weekly moving average at $174.80.

SPDR S&P 500 ETF (SPY) ($208.35) is up 13% year to date, well above its 50-day and 200-day SMAs at $199.18 and $194.14, respectively. Thursday's high at $208.26 was below its monthly technical level at $209.35. The weekly chart is positive but overbought with its key weekly moving average at $203.09.

Investors should book profits by entering a good 'til canceled limit order to sell strength to a key technical level at $209.35. The sell-stop to lock in gains is the key weekly moving average at $203.09.

PowerShares QQQ Trust ETF (QQQ) ($105.53) is up 20% year to date, well above its 50-day and 200-day SMAs at $99.96 and $94.40, respectively. The Nasdaq 100 ETF set its all-time intraday high at $106.25 on Nov. 28 below its monthly technical level at $107.80. The weekly chart is positive but overbought with its key weekly moving average at $102.30.

Investors should book profits by entering a good 'til canceled limit order to sell strength to a key technical level at $107.80. The sell-stop to lock in gains is the key weekly moving average at $102.30.

iShares Transportation Average ETF (IYT) ($165.24) is up 25% year to date, well above its 50-day and 200-day SMAs at $155.03 and $146.14, respectively. The Transportation ETF set its all-time intraday high at $167.80 on Nov. 28. The weekly chart is positive but overbought with its key weekly moving average at $159.37.

Investors should book profits by entering a good 'til canceled limit order to sell strength to a key technical level at $168.32. The sell-stop to lock in gains is the key weekly moving average at $159.37.

Utilities Select Sector SPDR Fund (XLU) ($45.74) is up 20% year to date, well above its 50-day and 200-day SMAs at $44.43 and $42.69, respectively. The utility ETF set its all-time intraday high at $46.61 on Nov. 5. The weekly chart is positive but overbought with its key weekly moving average at $45.10.

Investors should book profits by entering a good 'til canceled limit order to sell strength to a key technical level at $46.59, which was already tested at the high. The sell-stop to lock in gains is the key weekly moving average at $45.10.

Investors looking to increase allocation to utility stocks should use a "good 'til canceled" limit order to buy weakness to a key technical level at $42.90.

iShares 20+ Year Treasury Bond ETF (TLT) ($120.63) is up 18% year to date, above its 50-day and 200-day SMAs at $119.56 and $114.07, respectively. This bond ETF set its all-time intraday high at $132.21 on July 27. The weekly chart is positive with its key weekly moving average at $120.12.

Investors should book profits by entering a good 'til canceled limit order to sell strength to a key technical level at $124.70. The sell-stop to lock in gains is the key weekly moving average at $120.12.

At the time of publication the author held no positions in any of the stocks mentioned.

Follow @Suttmeier

This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.

 

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