$MSFT has reached new highs above $450, continuing to lead in a choppy market environment characterized by narrowing breadth as December options expiration approaches. Major technology stocks, including $AAPL and $META, are also performing well, contributing to the strength of the Nasdaq-100 index (QQQ). The NAAIM Exposure Index has surged to 99.24, indicating increased market enthusiasm, particularly for mega-cap stocks like Tesla (TSLA). The trend suggests a bullish growth rotation reminiscent of summer 2024, although there are concerns about tax-loss selling in small-cap stocks, which typically occurs until December 15. Analysts note that the market's current momentum may be influenced by year-end flows and overall sentiment.