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We start off this week by polling the room on what they would personally alert for this chart. Clay was mainly focused on the level of support at the 23 dollar level. After polling the room, everyone setups up their trade plans. Most people are playing this to the short side. After it snaps the grandma support level, we see some nice continuation to the downside. Clay discusses why we practice good habits and even if you take profits along the way, leave some to continue to work for you before those shares ultimately stop out. Eventually we stop getting lower lows and everyone stops out. Not a grand slam, but a good trade regardless.
We finish off the webinar with some top down analysis on SPY.