The Nasdaq 100 slipped after the Fed meeting minutes raised odds for tapering. The fall below 14880 has triggered strong bearish momentum as leveraged buyers were forced to close their positions.
The market remains cautious while the RSI rises back from an oversold situation. A rebound could be short-lived unless it lifts offers near 15040.
A lack of support may send the index to the critical support at 14600 on the daily chart. A breakout could trigger a bearish reversal in the medium term.
