Another way of looking at the Nasdaq 100 (QQQQ's) using Point and Figure charts

For those who follow or use the ChartWatchers blog at Stockcharts.com, you can reference this entry: Triple Top Breakout for QQQQ - from the Don't Ignore This Chart! blog - "A run through the PnF scans reveals a triple top breakout for QQQQ on Wednesday. This means prices pushed the current "x" above the prior two highs (green arrow). Despite this breakout, QQQQ is trading right at potential resistance from the bearish resistance line." It's a downtrend line they've drawn along the prior set of higher lows on the P&F chart of the QQQQ's.

I'm thinking it may go along with the Nasdaq 100 levels I've described in recent entries here. Below is how the P&F chart displays today, at Stockcharts.com for the QQQQ's. I have not drawn any lines on it, this is just how it appears in the display (I also didn't make any special settings for it). P&F experts are welcome to add anything more about this. This chart shows where the QQQQ's broke above the recent swing highs, just as we've also charted in the Nasdaq 100 index. Normally the P&F projection would be to 51 according to this chart (again, I'm no P&F expert), but their charting system automatically applies trendlines. So it is obvious that the QQQQ's would have to break above the trendline resistance also (which looks like it means, close at or just above $35), in order to retain bullish potential.