The Nasdaq 100 retreats as investors continue to digest hawkish Fed minutes.
The rally came to a halt at February’s high at 15260. Then a drop below the short-term demand zone at 14730 led to a wave of liquidation. 14200 is the next support and coincides with the 30-day moving average, making it an area of congestion.
If the bulls become wary of catching a falling knife, a bearish breakout could cause a deeper correction towards 13700. The support-turned-resistance at 14800 is the level to crack to resume the rally.
