JNK High-Yield Bond ETF Weekly and Daily Charts Overbot Rising Wedges Negative Divergence

Folks are chasing yield as evidenced by the dividend stock bubble, utilities bubble, REIT's bubble and bubbles in high-yield instruments. The pull back in JNK in January was forecasted with the rising purple wedge and negative divergence but the bulls return and pushed JNK to new highs once again. Same dealio now.  On both weekly and daily charts, all indicators are negatively diverged, rising wedges, overbot conditions, all say down. JNK is trying to squeeze out some further juice. Keystone's 80/20 rule says that 8's lead to 2-s many times, so 38 would lead to 42, however, the move is very long in the tooth.  These current highs may very well place a substantial long multi-month or multi-year top, so moves like this may take another few weeks to roll over. These charts say take the money and don't look back. Projection is for sideways to sideways lower prices for the days, weeks, months and perhaps years ahead. This information is for educational and entertainment purposes only.  Do not invest based on anything you read or view here.  Consult your financial advisor before making any investment decision.