Salesforce beat earnings estimates and the stock jumped 22%. Markets rewarded the company for meeting the absolute bare minimum definition of corporate existence. Shareholders celebrated a business doing what it said it would do like parents clapping for a toddler who managed to piss in the toilet instead of his pants.
The AI partnership with Anthropic sent the stock even higher. Nobody knows what this partnership entails. Nobody cares. The word "AI" appeared in a press release and algorithms bought seventeen billion dollars worth of shares before a human could finish reading the headline. Retail traders saw the green candle and jumped in at the top because they mistake momentum for analysis.
This was Salesforce's second-best trading day ever. The technical setup screamed overbought on every timeframe. RSI hit 89. Bollinger bands looked like they were trying to escape the chart. None of this mattered because earnings beat by four cents and suddenly every dip-buyer on Reddit thinks Marc Benioff personally blessed their Robinhood account.
The software rally it led means nothing. Stocks that went up today will give it back tomorrow or next week or whenever the next headline drops. The chart doesn't care about Anthropic. The chart doesn't care about AI partnerships. The chart cares about supply and demand, and right now supply is coming from people who bought at $180 and demand is coming from people who will be holding bags at $240.
Twenty-two percent in a day. Congratulations to everyone who bought the breakout and will spend the next month watching it chop sideways while they pray it doesn't fill the gap. Your stop loss was supposed to be at $215 but you moved it to $205 because you believe in the story now.
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