Note that I have added a red dot indicator to my primary daily chart. A red dot indicates that a stock closes down on the day it exceeded its upper daily 15.2 Bollinger Band. I do not want to buy on a red dot bar and sometimes may want to sell or trade a potential decline. QQQ has been bouncing between its Bollinger Bands for some time. QQQ is also on its 50 day average (green dotted line). The GMI =2 and could turn Red on Thursday. Be careful.
Thanks for pointing out your observation about “down days”.
That Red Dot indicator is a classic John Bollinger strategy for going short. You could add a flipside indicator on the lower band as well.