ES Confined Within Wide 3-Month Sideways Patterns

Good Thursday Morning, MPTraders!  February 12, 2026-- Pre-Market Update: 

The more things change, the more they stay the same!  

ES remains confined within a wide three-month sideways pattern, the boundaries of which are demarcated in gray on my attached Daily Chart. 

To break out to the upside, ES needs to chew or thrust its way through and above consequential resistance lodged between 7012 and 7045.

Conversely, a break to the downside will gain traction if ES presses and sustains below support at 6940/50, which represents the levels of both the 20 and 50 DMAs...

From a nearer-term perspective, as long as ES is trading above the 20 DMA, now at 6953, the index points higher to revisit the 7000-7012 resistance area for a fourth time this week... Last is 6985.00...