A rally back above 13.25 is needed to support more upside for wave [iii] or [c], until we see some impulsive upside its at risk for further weakness, but if its going to rally then I favor the bulls step up and rally this stock above 13.25. The current idea i wrong below 11.91. STOP LOSS 11,91
If FCX breaks down under 11.91 I will move to the sidelines and wait on the market as there is a possible bearish weekly pattern than can argue for a move back under 3.50. So you NEED to respect a break under 11.91 if you are bullish this stock.
I have adjusted the internals to a small [w][x][y] count, a rally back above 2.70 is needed before we can suggest wave 5 is in progress. If a bit lower is seen, then i still want to see if find buyers around or on 2.50.