ClayTrader is a scam in my opinion. He is paid one way or another for his chart videos and I agree with your post 100% charts don't mean nothing for penny stocks. The only thing you will get out of a chart for a penny stock is volume which can be an indicator of someone or groups "loading" shares before they actually hire ClayTrader to do a PAID video chart to hype it up. Why do they hire ClayTrader? Simple, Because all the newbies believe his nonsense and he has so many newbies that "followed" him on another site. Notice how I said "followed"? Yes because those members are long gone broke because of his BS video charts.
Clay is full of crap and suckers inexperienced traders who believe that "technicals" influence penny plays. He is always a day late to the party and catches stocks on a downtrend.