NASDAQ looking to hold the 4H MA50 in order to sustain the rally

Nasdaq (NDX) broke on Friday above its 4H MA50 (blue trend-line) and today is looking to re-test it as a Support. The medium-term pattern has been a Channel Up since the September 06 Low and every time the 4H MA50 broke following a bottom, it held and sustained the Bullish Leg until the top.

It appears that the most common rally % within this pattern is +6.80%. As a result, assuming the 4H MA50 holds, our Target is 21650.

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