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I don't think theory is correct, though.  There are times in the past 24 hrs when the arrows have been gone for an hour, only to return the next.  And earlier, the XBO had a green arrow, yet fell a spot, while the PS4 has had a red arrow for hours, while the other products have had none or green, yet remained at #8.  I don't think anyone has truly figured out how the Bestsellers truly works. 

My guess, at least for the arrows, is they are comparing the sales of a product to its sales in the previous hour or so (I think the updates are actually for a few hours past.)  So, a product may sell a couple of units short of its sales from the previous hour, while the product below it may sell a couple more, but it may not be enough to actually for the lower product gain a spot.  That's my theory, anyway.

This.