Last week's stock market strength was powered by bull market gains for transportation, as well as for the materials, industrial, consumer discretionary, energy, financial and technology sectors. The exchange-traded funds that track these sectors also gained. These are baskets of stocks in these particular sectors.

The lagging S&P 500 sector ETFs, however, remain the ones you'd think were safe: real estate, consumer staples, health care and utilities. These four laggards have decent gains off their 2016 lows, but real estate and utilities are in correction territory. Only real estate and health care are down year to date.

Here's this week's scorecard for the 11 exchange-traded funds that represent each of the sectors of the S&P 500.

The SPDR Dow Jones REIT ETF (RWR) ended last week at $90.15, down 1.6% year to date, and in correction territory 13.6% below its all-time intraday of $104.34 set on July 29.

The weekly chart for RWR is negative but oversold with the ETF below its key weekly moving average of $91.53 and above its 200-week simple moving average of $85.69, last tested during the week of Feb. 12, when the average was $81.06. The weekly momentum reading inched up to 13.66 last week up from 12.58 on Nov. 18, becoming less overbought versus the threshold of 80.00.

Courtesy of MetaStock Xenith

Investors looking to buy the REIT ETF should do so on weakness to $85.69, which is the 200-week simple moving average. Investors looking to reduce holdings should consider selling strength to $101.16, which is a key level on technical charts until the end of 2016.

The Materials Select Sector SPDR Fund (XLB) ended last week at $49.56, up 14.1% year to date, and in bull market territory 36.6% above its Jan. 20 low of $36.29.

The weekly chart for XLB is positive with the ETF above its key weekly moving average of $47.89 and above its 200-week simple moving average of $45.64, last tested during the week of July 1, when the average was $44.51. The weekly momentum reading rose to 52.90 last week up from 40.16 on Nov. 18.

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Investors looking to buy the materials ETF should do so on weakness to $45.64, which is the 200-week simple moving average. Investors looking to reduce holdings should consider selling strength to $53.66, which is a key level on technical charts until the end of 2016.

The Industrial Select Sector SPDR Fund (XLI) ended last week at $62.71, up 18.3% year to date and set its all-time intraday high of $62.71 on Nov. 25. This sector is benefiting from the notion that industrial companies will win on infrastructure spending initiatives. This ETF is in bull market territory 33.9% above its Jan. 20 low of $46.82.

The weekly chart for XLI is positive with the ETF above its key weekly moving average of $59.48 and above its 200-week simple moving average of $52.25, last tested during the week of Jan. 22 when the average was $47.92. The weekly momentum reading rose to 63.63 last week up from 46.29 on Nov. 18.

Courtesy of MetaStock Xenith

Investors looking to buy the industrial ETF should do so on weakness to $57.42, which is a key level on technical charts until the end of 2016. Investors looking to reduce holdings should do so on strength to $68.26, which is a key level on technical chart until the end of 2016.

The Consumer Discretionary Select Sector SPDR Fund (XLY) ended last week at $82.98, up 6.2% year to date, and in bull market territory 22.8% above its Jan. 20 low of $67.59.

The weekly chart for XLY is positive with the ETF above its key weekly moving average of $80.15 and well above its 200-week simple moving average of $69.93. The weekly momentum reading rose to 50.76 last week up from 34.59 on Nov. 18.

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Investors looking to buy the consumer discretionary ETF should do so on weakness to $71.86, which is a key level on technical charts until the end of 2016. Investors looking to reduce holdings should consider selling strength to $87.45, which is a key level on technical charts until the end of 2016.

The Consumer Staples Select Sector SPDR Fund (XLP) ended last week at $51.22, up 1.4% year to date but 8.6% below the July 14 all-time intraday high of $56.02.

The weekly chart for XLP remains negative but oversold with the ETF below its key weekly moving average of $51.77 and above its 200-week simple moving average of $46.73. The weekly momentum reading ended last week at 11.18 versus 11.13 on Nov. 18, with both readings well below the oversold threshold of 20.00.

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Investors looking to buy the consumer staples ETF should do so on weakness to $46.64, which is a key level on technical charts until the end of 2016. Investors looking to reduce holdings should consider selling strength to $56.48, which is a key level on technical charts until the end of 2016.

The Energy Select Sector SPDR Fund (XLE) ended last week at $72.72, up 20.6% year to date and in bull market territory 45.6% above its Jan. 20 low of $49.93.

The weekly chart for XLE has been upgraded to positive from neutral with the ETF above its key weekly moving average of $70.21, but still well below its 200-week simple moving average of $77.69. The weekly momentum reading rose to 63.51 last week up from 57.20 on Nov. 18.

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Investors looking to buy the energy ETF should do so on weakness to $66.65, which is the 200-day simple moving average. Investors looking to reduce holdings should consider selling strength to $78.52, which is a key level on technical charts until the end of 2016.

The Financial Select Sector SPDR Fund (XLF) ended last week at $22.41, up 15.8% year to date and in bull market territory 41.3% above its Feb. 11 low of $15.86.

The weekly chart for XLF is positive but overbought with the ETF above its key weekly moving average of $20.79 and above its 200-week simple moving average of $18.28, last tested during the week of July 1 when the average was $17.58. The weekly momentum reading rose to 80.80 last week up from 72.41 on Nov. 18.

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Investors looking to buy the finance ETF should do so on weakness to $21.34 and $19.55, 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 consider selling strength to $23.51, which is a key level on technical charts until the end of 2016.

The Health Care Select Sector SPDR Fund (XLV) ended last week at $69.48, down 3.5% year to date and is 10.8% above its Feb. 9 low of $62.68.

The weekly chart for XLV remains neutral with the ETF below its key weekly moving average of $69.87 and above its 200-week simple moving average of $63.48. The weekly momentum reading rose to 31.19 last week up from 22.32 on Nov. 18.

Courtesy of MetaStock Xenith

Investors looking to buy the health care ETF should do so on weakness to $63.48, which is the 200-week simple moving average. Investors looking to reduce holdings should consider selling strength to $77.70, which is a key level on technical charts until the end of 2016.

The Utilities Select Sector SPDR Fund (XLU) ended last week at $47.16, up 9% year to date and in correction territory 11.1% below its July 6 high of $53.02.

The weekly chart for XLU is negative with the ETF below its key weekly moving average of $47.60 and above its 200-week simple moving average of $43.32. The weekly momentum reading slipped to 20.28 last week down from 21.27 on Nov. 18, approaching the oversold threshold of 20.00.

 

Courtesy of MetaStock Xenith

Investors looking to buy the utilities ETF should do so on weakness to $43.32, which is the 200-week simple moving average. Investors looking to reduce holdings should consider selling strength to $51.19 and $51.46, which are key levels on technical charts until the end of 2016.

The Technology Select Sector SPDR Fund (XLK) ended last week at $48.00, up 12.1% year to date and in bull market territory 26.2% above its Jan. 20 low of $38.03.

The weekly chart for XLK has been upgraded to positive from neutral with the ETF above its key weekly moving average of $47.24 and well above its 200-week simple moving average of $39.17. The weekly momentum reading rose to 59.59 last week up from 55.12 on Nov. 18.

Courtesy of MetaStock Xenith

Investors looking to buy the technology ETF should do so on weakness to $46.72 and $35.69, which are key levels on technical charts until the end of 2016. Investors looking to reduce holdings should consider selling strength to $49.05, which is a key level on technical charts until the end of 2016.

The iShares Transportation Average ETF (IYT) ended last week at $162.75, up 20.8% year to date and in bull market territory 41.6% above its Jan. 20 low of $114.91.

The weekly chart for IYT 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 rose to 87.42 last week up from 81.87 on Nov. 18, becoming more overbought above the threshold of 80.00.

Courtesy of MetaStock Xenith

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 $189.51, 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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