"Nasdaq's Selling Spree: Microsoft Stock's Bullish Chart Pattern Under Scrutiny"

There are two reasons why selling in the Nasdaq could escalate. Firstly, fund managers may opt to close the books for the year and invest in three-month Treasury bills, which currently yield 5.48% annually, to secure their gains and be ready for 2024. Secondly, technical analysis suggests a potential head-and-shoulders pattern forming in the S&P 500 and Nasdaq Composite, with a measured target close to a 6.4% decrease. If the neckline slope on the Nasdaq doesn't hold, heavy selling in megacap tech stocks could occur as the allure of the AI trade diminishes.