FCX, daily
Summary
A very clear rollover is clearly seen on the daily chart, and FCX was clearly standing out from the rest of the market today.
Underlying MACD (blue bar histogram) cycle is due to go negative cycle when the market re-opens on Tuesday morning. A move to at least $33 seems a given, the only issue is whether it can hold there, or will it make an attempt to re-test the lows from early December.
If the main market does see a retracement into the sp'1450/40s, then FCX will surely see much lower levels, and indeed...test those December lows in the 31/30 zone.
A double bottom for FCX in late January @ $31/30 ?
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FCX is unquestionably a great company, is one to watch, especially so if the market does start to retrace 3-4% lower in the remainder of January.
