Update

1188 high today right after the open.  Hit lows of 1171 after a very weak consumer sentiment number (not unexpected).  Anyways, my levels from this morning held pretty well, and it would have been prudent to sell 1188 and cover at 1171.  Instead, I took a step back and noticed a wedge forming, which we broke to the upside.  I bought a small position in FCX on the break out and I expect to test the 1188 highs.  Also interesting to see the breakout coincide with the European close, which this past week has equated to rallying.