Yesterday I showed a SPY study that examined the 1st 5-day low in over 2 weeks. QQQ triggered its own version on Wednesday. I showed the QQQ version last in the 11/12/10 subscriber letter. There I found that the edge played out favorably below the 200ma but above it the edge was not apparent. QQQ is below the 200ma, so here are the results from that 2010 study.
The numbers here appear very strong.