FEBRUARY 18, 2026 — WEDNESDAY AM
With FOMC Meeting Minutes later this afternoon at 1pm CT, the market may be in a “wait-and-see” mode, trading mostly range-bound ahead of the afternoon’s news. One thing to watch, however, is the reactions developing at the previous session’s high price in the ES, NQ, and YM. Early rejections above 2-day highs could trigger a return to yMID, with a shot to go outside day down in the most bearish scenario. BTC and ETH remain within super narrow 7-day ranges, which have developed below market structure, suggesting further weakness ahead – unless something drastically changes. This energy may come out soon. Crude Oil continues to experience high-volatility price action, and remains above 62, which opens the door to testing 66 again.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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