The weekly charts for the Dow Jones Industrial Average (INDU) , S&P 500 , the Nasdaq Composite (NDAQ) , Dow Transports and the Russell 2000 ended last week positive. The Nasdaq 100 ended the week neutral.

The Dow 30, Nasdaq and Russell 2000 set new all-time highs of 18,934.05, 5,346.80 and 1,316.22, respectively. Transports set a multiyear intraday high of 8,859.06. The S&P 500 lags its all-time intraday high of 2,193.81 set on Aug. 15.

The exchange-traded funds tracking these exchanges had a good week, too, for the most part. Let's check their charts.

Here's the weekly chart for the SPDR Dow Jones Industrial Average ETF (DIA) , aka Diamonds.

Courtesy of MetaStock Xenith

Diamonds closed Friday at $188.46, up 8.3% year to date after setting its all-time intraday high of $189.39 on Nov. 14.

The weekly chart for Diamonds ended last week positive with the ETF above its key weekly moving average of $183.88 and well above its 200-week simple moving average of $167.79. The weekly momentum reading rose to 43.52 last week up from 33.82 on Nov. 11.

Investors looking to buy Diamonds should consider buying weakness to $184.93 and $183.08, which are key levels on technical charts until the end of this week and until the end of 2016, respectively. Investors looking to reduce holdings should do so on strength to $195.95, which is a key level on technical charts until the end of November.

Here's the weekly chart for SPDR S&P 500 ETF Trust (SPY) , aka Spiders.

 

Courtesy of MetaStock Xenith

Spiders closed Friday at $218.50, up 7.2% year to date versus its all-time intraday high of $219.60 on August 23.

The weekly chart for Spiders is positive with the ETF above its key weekly moving average of $214.76 and above its 200-week simple moving average of $193.17. The weekly momentum reading rose to 39.66 up from 31.80 on Nov. 11.

Investors looking to buy Spiders should do so on weakness to $213.57, which is a key level on technical charts until the end of this week. I show a quarterly pivot of $216.55 as a magnet until the end of 2016, and this level was crossed last week. Investors looking to reduce holdings should consider selling strength to $230.46, which is a key level on technical charts until the end of November.

Here's the weekly chart for the PowerShares QQQ Trust ETF (QQQ) , or QQQ.

Courtesy of MetaStock Xenith

QQQ closed Friday at $117.32, up 4.9% year to date after setting an all-time intraday high of $119.66 on Oct. 25.

The weekly chart for QQQ has been upgraded to neutral from negative with the ETF above its key weekly moving average of $116.53. The ETF is above its 200-week simple moving average of $96.85. The weekly momentum reading declined to 48.64 last week down from 55.73 on Nov. 11.

Investors looking to buy QQQ should consider buying weakness to $115.81, which is a key level on technical charts until the end of this week. Investors looking to reduce positions should consider selling strength to $119.81, which remains a key level on technical charts until the end of 2016.

Here's the weekly chart for the iShares Transportation Average ETF (IYT) .

Courtesy of MetaStock Xenith

The transports ETF closed Friday at $159.55, up 18.4% year to date, as the Dow transportation average is 4.9% below its all-time intraday high of 9,310.33 set on Nov. 28, 2014.

The weekly chart for the transportation ETF is positive but overbought with the ETF above its key weekly moving average of $148.63 and above its 200-week simple moving average of $137.90. The weekly momentum reading ended last week at 81.87 up from 76.83 on Nov. 11, moving above the overbought threshold of 80.00.

Investors looking to buy the transportation ETF should consider doing so on weakness to $151.34, which is a key level on technical charts until the end of November. Investors looking to reduce holdings should do so on strength to $167.80, which is the all-time intraday high set on Nov. 28, 2014.

Here's the weekly chart for the iShares Russell 2000 ETF (IWM) .

Courtesy of MetaStock Xenith

The small-caps ETF closed Friday at $130.99, up 16.3% year to date, and set its all-time intraday high of $121.09 on Nov. 18.

The weekly chart for the small-cap ETF remains positive with the ETF above its key weekly moving average of $123.42 and above its 200-week simple moving average of $112.54. The weekly momentum reading ended last week at 46.30 up from 35.39 on Nov. 11.

Investors looking to buy this ETF should do so on weakness to $124.33, which is a key level on technical charts until the end of this week. The $127.25 level is a magnet until the end of 2016. Investors looking to reduce holdings should do so on strength to $143.08, which is a key level on technical charts until the end of 2016.

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

More from ETFs

60 Seconds: What's the Difference Between an ETF and a Mutual Fund?

60 Seconds: What's the Difference Between an ETF and a Mutual Fund?

Video: Why Shark Tank Star Kevin O'Leary Is Doubling Down on Internet Stocks

Video: Why Shark Tank Star Kevin O'Leary Is Doubling Down on Internet Stocks

Simple Investing Strategies Stand the Test of Time

Simple Investing Strategies Stand the Test of Time

This Technology ETF Could Be Signaling a Looming Tech Stock Rout

This Technology ETF Could Be Signaling a Looming Tech Stock Rout

The End of Retailpocolypse? This Retail ETF Is Soaring

The End of Retailpocolypse? This Retail ETF Is Soaring