Our timing models called for the Directional Change during the last quarter of 2020. That indeed signaled a near-term correction. The critical technical support has held so far during the 1st quarter, which was 211.39, and the stock fell to the 212 level. But looking ahead, we still see July/August this year as critical periods in time but long-term, turning points both in 2022 and 2024 in line with the Economic Confidence Model.
What Benioff has failed to realize is that the entire agenda of the World Economic Forum is to alter capitalism and in the process, he is cheering the demise of his own customers. As unemployment rise, we will see the earning of Salesforce decline. This is where the personal beliefs of the CEO should never be intermixed with the performance of the company. His support for STAKEHOLDER economics of Schwab means he cares more about the Schwab agenda than shareholders. This is not a company you may want to have in your portfolio as political risks will attach to those companies in league with Schwab into 2024.
