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

The Dow 30, S&P 500, Nasdaq and Russell 2000 set all-time intraday highs of 19,152.14, 2,213.35, 5,398.92 and 1,347.20, respectively, on Friday, while Dow transports set a multiyear intraday high of 9,044,21.

Here's how to trade these bull markets using exchange-traded funds that track them.

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

 

Courtesy of MetaStock Xenith

Diamonds closed Friday at $191.30 up 9.9% year to date after setting its all-time intraday high of $191.34 on Nov. 25. This ETF is in bull market territory 23.9% above its Jan. 20 low of $154.38.

The weekly chart for Diamonds remains positive, with the ETF above its key weekly moving average of $185.37 and well above its 200-week simple moving average of $168.06. The weekly momentum reading rose to 60.97 last week up from 43.52 on Nov. 18.

Investors looking to buy Diamonds on weakness should do so to $187.04 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 $221.52, up 8.7% year to date after setting its all-time intraday high of $221.56 on Nov. 25. This ETF is in bull market territory 22.4% above its Jan. 20 low of $181.02.

The weekly chart for Spiders is positive with the ETF above its key weekly moving average of $216.11 and above its 200-week simple moving average of $193.52. The weekly momentum reading rose to 55.80 last week up from 39.66 on Nov. 18.

Investors looking to buy Spiders should do so on weakness to $216.55 and $215.03, which are key levels on technical charts until the end of 2016 and until the end of this week, respectively. 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) , dubbed QQQ.

Courtesy of MetaStock Xenith

QQQ closed Friday at $118.80 up 6.2% year to date still below its all-time intraday high of $119.66 on Oct. 25. This ETF is in bull market territory 25.3% above its Feb. 8 low of $94.84.

The weekly chart for QQQ has been upgraded to positive from neutral with the ETF above its key weekly moving average of $116.98. The ETF is above its 200-week simple moving average of $97.11. The weekly momentum reading rose to 53.13 last week up from 48.64 on Nov. 18.

Investors looking to buy QQQ should consider buying weakness to $115.80, 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 and $125.96, which are key levels 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 $162.78, up 20.8% year to date, and set a multiyear intraday high of $162.86 on Nov. 25. This ETF is in bull market territory 41.6% above its Jan. 20 low of $114.91. This ETF gapped higher pre-election on Nov. 7 from $146.88 and never looked back.

The weekly chart for the transportation ETF is positive but overbought with the ETF above its key weekly moving average of $151.46 and above its 200-week simple moving average of $138.20. The weekly momentum reading ended last week rose to 87.42 last week up from 81.87 on Nov. 18, becoming move overbought above the threshold of 80.00.

Investors looking to buy the transportation ETF should consider doing so on weakness to $155.00, which is a key level on technical charts until the end of this week. 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 $134.07, up 19% year to date, after setting its all-time intraday high of $134.10 on Nov. 25. This ETF is in bull market territory 43.2% above its Feb. 11 low of $93.64.

The weekly chart for the small cap ETF remains positive with the ETF above its key weekly moving average of $125.55 and above its 200-week simple moving average of $112.76. The weekly momentum reading rose to 63.80 last week up from 46.30 on Nov. 18.

Investors looking to buy this ETF should do so on weakness to $127.25, which is a key level on technical charts 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.

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