I have a feeling that if we were especially bearish here, $JNK would have sold off.
But instead, it is breaking out of a bullish continuation wedge. Using fib extension rules for zig-zags, we can target the orange box above.
[UPDATE]: This wedge broke down pretty significantly. I will file this under “Unsuccessful Calls.” I will need to monitor the price action from here prior to making a new call.
