Push Off Range Lows. Dow Lagging Or Leading? Uncle Russ Bull Rampage? | SPX Market Briefing | 25 Nov 2025

Monday saw the push off the range lows noted on the daily charts.

Dow, however, decided to take a break – lagging the move or leading the next direction?

Gold is still cutting out a range. The potential rest we spoke about at the end of last month, I think it would be fair to say, is a reality.

Crude oil is coiled very tightly and there are opportunities to ping pong the range – I’ve been a little infrequent in my trading here.

Overall it looks like there has been little change in the landscape – so until something new happens more of the same can be expected.

SPX TnT trades still remain bullish and nudging the upper target zone.

RUT TnT trades also remain bullish.

Uncle Russ led the bear charge – so it will be interesting to see if it leads the bull rampage from the larger range lows to highs.

For now it’s starting to ride that upper BB.

Keep scrolling for the range analysis…

Push Off Range Lows. Dow Question Mark. Little Change. Uncle Russ Bull Rampage Watch.

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SPX Market Briefing:

Monday push off range lows (noted on daily charts), Dow took break creating lagging-move-or-leading-next-direction question, gold still cutting out range (potential rest from end of last month fair to say is reality), crude oil coiled very tightly (ping pong range opportunities, been infrequent trading),

overall little change in landscape (more of same expected until something new), SPX TnT bullish nudging upper target zone, RUT TnT also bullish, Uncle Russ led bear charge creating will-he-lead-bull-rampage-from-range-lows-to-highs question (starting to ride upper BB).

Current Multi-Market Status:

• ES: 6709.50, bounced off lows

• RTY: 2413.3, bounced, riding upper BB

• YM: 46,435, took a break

• NQ: 25,644, participating in bounce

• CL: $58.33, coiled tight

• GC: $4113.1, range/rest mode

• VIX: 20.64, dropping

• BTC: $87,042, recovering

Range Lows Bounced – Dow Took Break

Monday: Push off range lows on dailies. ES, NQ, RTY participating.

Dow: Took a break. Not participating. Question: Lagging the move or leading next direction?

Current Status: Bounce off lows, Dow lagging/leading question

Gold Range Rest Reality – Crude Coiled

Gold cutting out range. Potential rest mentioned end of last month = now reality. GC $4113.1 in consolidation.

Crude coiled very tightly. CL $58.33. Opportunities to ping pong the range. Been infrequent trading here.

Current Status: Gold resting, crude tight range

Little Change – More Of Same

Overall landscape: little change.

Until something new happens, more of the same expected. Range-bound action continuing.

Current Status: Status quo, more of same

SPX/RUT TnT – Uncle Russ Question

SPX TnT: Bullish above 6573.56. Target 6723.02. Currently 6705.11. Nudging upper target zone.

RUT TnT: Bullish above 2326.87. Currently 2420.80. Also bullish.

Uncle Russ question: Led the bear charge down. Will he lead the bull rampage from larger range lows to highs?

Starting to ride that upper BB. Watch for leadership signal.

Current Status: Both TnT bullish, Uncle Russ leadership watch

Trade well,
T2 Markets

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