Remember what Clay Trader said..."charts really do work"!!
You have failed breakouts when junk stocks are in downtrends. Sure, these kind of stocks are news-driven (that is, real news, not the garbage that they pass off as "news") and spike up or down. Overall, I'll take the charts any day.
Article I, Section. 10. No State shall...make any Thing but gold and silver Coin a Tender in Payment of Debts;...or Law impairing the Obligation of Contracts [ask GM bondholders!].