The Nasdaq 100 sees heavy profit-taking ahead of the Fed meeting this week.
The fall below the short-term floor at 15300 has triggered a fire sale on leveraged positions. Momentum traders have pushed the index towards the daily support around 14750.
A bearish breakout could jeopardize the bull run in the medium term. Buyers would then wait cautiously for price action to stabilize before stepping in.
An oversold RSI has caused a temporary rebound with 15280 as the closest resistance.
