The relationship between QQQ and its 200 day moving average over time

Im looking at QQQ over the last 5 years and compared the price to its 200 day moving average in different stages of bull/bear markets

At each peak (Oct 2018, Feb 2020, Nov 2021) it was 40 to 60% higher than its 200 MA.

At each bottom (Dec 2018, Mar 2020, Oct 2022) it was only -1 to 8% higher than its 200 MA.

Am I wrong in trying to use this as one of many indicators to measure how overbought/oversold QQQ is?