QQQQ Closes at 5-day Low for 1st Time in a Month

The QQQQ closed at a 5-day low Thursday. This is the 1st time it has closed at a 5 day low in 21 days. It seemed to me that the 1st decent pullback after a long run higher could provide a bullish edge. So I tested it. There were only 7 previous instances of runs of 20-days or longer. In a search for more meaningful results I lowered the requirement to 10-days. Those results are below:

(click to enlarge)

There does appear to be a small edge based on the size of the average trade. The winning percentage is a bit disappointing. It isn’t much better than random. In all I’d say there’s a mild edge that largely plays out in the 1st 2 days.