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December 4, 2025

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S&P 500 Breaking Out Again: What This Means for Your Portfolio

The S&P 500 ($SPX) just logged its fifth straight trading box breakout, which means that, of the five trading ranges the index has experienced since the April lows, all have been resolved to the upside.

How much longer can this last? That’s been the biggest question since the massive April 9 rally. Instead of assuming the market is due to roll over, it’s been more productive to track price action and watch for potential changes along the way. So far, drawdowns have been minimal, and breakouts keep occurring. Nothing in the price action hints at a lasting change — yet.

While some are calling this rally “historic,” we have a recent precedent. Recall that from late 2023 through early 2024, the index had a strong start and gave way to a consistent, steady trend.

From late October 2023 through March 2024, the S&P 500 logged seven consecutive trading box breakouts. That streak finally paused with a pullback from late March to early April, which, as we now know, was only a temporary hiccup. Once the bid returned, the S&P 500 went right back to carving new boxes and climbing higher.

New 52-Week Highs Finally Picking Up

If there’s been one gripe about this rally, it’s that the number of new highs within the index has lagged. As we’ve discussed before, among all the internal breadth indicators available, new highs almost always lag — that’s normal. What we really want to see is whether the number of new highs begins to exceed prior peaks as the market continues to rise, which it has, as shown by the blue line in the chart below.

As of Wednesday’s close, 100 S&P 500 stocks were either at new 52-week highs or within 3% of them. That’s a strong base. We expect this number to continue rising as the market climbs, especially if positive earnings reactions persist across sectors.

Even when we get that first day with 100+ S&P 500 stocks making new 52-week highs, though, it might not be the best time to initiate new longs.

The above chart shows that much needs to align for that many stocks to peak in unison, which has historically led to at least a short-term consolidation, if not deeper pullbacks — as highlighted in yellow. Every time is different, of course, but this is something to keep an eye on in the coming weeks.

Trend Check: GoNoGo Still “Go”

The GoNoGo Trend remains in bullish mode, with the recent countertrend signals having yet to trigger a greater pullback.

Active Bullish Patterns

We still have two live bullish upside targets of 6,555 and 6,745, which could be with us for a while going forward. For the S&P 500 to get there, it will need to form new, smaller versions of the trading boxes.

Failed Bearish Patterns

In the chart below, you can view a rising wedge pattern on the recent price action, the third since April. The prior two wedges broke down briefly and did not lead to a major downturn. The largest pullbacks in each case occurred after the S&P 500 dipped below the lower trendline of the pattern.

The deepest drawdown so far is 3.5%, which is not exactly a game-changer. Without downside follow-through, a classic bearish pattern simply can’t be formed, let alone be broken down from.

We’ll continue to monitor these formations as they develop because, at some point, that will change.

Sankamap Updates Status on Late Filing of Financial Statements; Extends MCTO

Sankamap Metals Inc. (CSE: SCU) (‘Sankamap’ or the ‘Company’) further to the Company’s news releases dated October 21, 2025, November 4, 2025, and November 18, 2025, the Company continues to work towards the filing of its annual audited financial statements and management’s discussion and analysis for the fiscal year ended June 30, 2025 (the ‘Required Filings’). The Company has obtained approval from the Alberta Securities Commission to extend the Management Cease Trade Order (‘MCTO’) under National Policy 12-203 Management Cease Trade Orders (‘NP 12-203’) until December 28, 2025.

While the audit of Sankamap’s private subsidiary has now been completed, timing adjustments in the subsidiary’s audit resulted in a brief postponement of fieldwork and the review of Sankamap’s audit file. The upcoming holiday period is also expected to affect scheduling. To support timely completion of the audit, the Company intends to appoint the subsidiary’s auditor as its auditor, as their familiarity with the Company’s mineral property and the Solomon Islands jurisdiction is expected to facilitate an expedited process. A change of auditor is underway, and the Company expects to file the required change of auditor documentation shortly.

The Required Filings were due to be filed by October 28, 2025. In connection with the anticipated delays in making the Required Filings, the Company made an application for a Management Cease Trade Order (‘MCTO‘) under National Policy 12-203 Management Cease Trade Orders (‘NP 12-203‘) to the Alberta Securities Commission, as principal regulator for the Company, and the MCTO was issued on October 29, 2025. The MCTO restricts all trading by the Company’s CEO and CFO in securities of the Company, whether direct or indirect. The issuance of the MCTO will not affect the ability of persons who are not directors, officers or insiders of the Company to trade their securities. The MCTO will remain in effect until the Required Filings are filed or until it is revoked or varied.

The Company expects to proceed with the filing of its interim first-quarter financial statements shortly after the Required Filings have been completed and submitted.

The Company confirms that it intends to satisfy the provisions of the alternative information guidelines described in NP 12-203 by issuing bi-weekly default status reports in the form of a news release until it meets the Required Filings requirement. The Company has not taken any steps towards any insolvency proceeding and the Company has no material information relating to its affairs that has not been generally disclosed.

About Sankamap Metals Inc.

Sankamap Metals Inc. (CSE: SCU) is a Canadian mineral exploration company dedicated to the discovery and development of high-grade copper and gold deposits through its flagship Oceania Project, located in the South Pacific. The Company’s fully permitted assets are strategically positioned in the Solomon Islands, along a prolific geological trend that hosts major copper-gold deposits; including Newcrest’s Lihir Mine, with a resource of 71.9 million ounces of gold¹ (310 Mt containing 23 Moz Au at 2.3 g/t P+P, 520 Mt containing 39 Moz Au at 2.3 g/t indicated, 81 Mt containing 5 Moz Au at 1.9 g/t measured, 61 Mt containing 4.9 Moz Au at 2.3 g/t Inferred).

Exploration is actively advancing at both the Kuma and Fauro properties, part of Sankamap’s Oceania Project in the Solomon Islands. Historical work has already highlighted the mineral potential of both sites, which lie along a highly prospective copper and gold-bearing trend, suggesting the possibility of further, yet-to-be-discovered deposits.

At Kuma, the property is believed to host an underexplored and largely untested porphyry copper-gold (Cu-Au) system. Historical rock chip sampling has returned consistently elevated gold values above 0.5 g/t Au, including a standout sample assaying 11.7% Cu and 13.5 g/t Au2; underscoring the area’s significant potential.

At Fauro, particularly at the Meriguna Target, historical trenching has returned highly encouraging results, including 8.0 meters at 27.95 g/t Au and 14.0 meters at 8.94 g/t Au3. Complementing these results are exceptional grab sample assays, including historical values of up to 173 g/t Au3, along with recent sampling by Sankamap at the Kiovakase Target, which returned numerous high-grade copper values, reaching up to 4.09% Cu. In addition, limited historical shallow drilling intersected 35.0 meters at 2.08 g/t Au3, further underscoring the property’s strong mineral potential and the merit for continued exploration. With a commitment to systematic exploration and a team of experienced professionals, Sankamap aims to unlock the untapped potential of underexplored regions and create substantial value for its shareholders. For more information, please refer to SEDAR+ (www.sedarplus.ca), under Sankamap’s profile.

1.Newcrest Technical Report, 2020 (Lihir: 310 Mt containing 23 Moz Au at 2.3 g/t P+P, 520 Mt containing 39 Moz Au at 2.3 g/t indicated, 81 Mt containing 5 Moz Au at 1.9 g/t measured, 61 Mt containing 4.9 Moz Au at 2.3 g/t Inferred)

2. Historical grab, soil and BLEG samples from SolGold Kuma Review June 2015, and SolGold plc Annual Report 2013/2012

3. September 2010-June 2012 press releases from Solomon Gold Ltd. and SolGold Fauro Island Summary Technical Info 2012

QP Disclosure

The technical content for the Oceania Project in this news release has been reviewed and approved by John Florek, M.Sc., P.Geol., a Qualified Person in accordance with CIM guidelines. Mr. John Florek is in good standing with the Professional Geoscientists of Ontario (Member ID:1228) and a director and officer of the Company.

ON BEHALF OF THE BOARD OF DIRECTORS

s/ ‘John Florek’
John Florek, M.Sc., P.Geol
Chief Executive Officer
Sankamap Metals Inc.

Contact:
John Florek, CEO
T: (807) 228-3531
E: johnf@sankamap.com

The Canadian Securities Exchange has not approved nor disapproved this press release.

Forward-Looking Statements

Certain statements made and information contained herein may constitute ‘forward-looking information’ and ‘forward-looking statements’ within the meaning of applicable Canadian and United States securities legislation. These statements and information are based on facts currently available to Sankamap and there is no assurance that the actual results will meet management’s expectations. Forward-looking statements and information may be identified by such terms as ‘anticipates,’ ‘believes,’ ‘targets,’ ‘estimates,’ ‘plans,’ ‘expects,’ ‘may,’ ‘will,’ ‘could’ or ‘would.’

This press release contains forward-looking statements, including, but not limited to, statements regarding management’s expectations about obtaining the MCTO and completing the Required Filings within the anticipated timeline. Forward-looking statements are subject to various risks, uncertainties, and other factors that could cause actual results or events to differ materially from those expressed or implied by such statements. Sankamap does not undertake any obligation to update forward-looking statements or information, except as required by applicable securities laws. For more information on the Company, investors should review the Company’s continuous disclosure filings that are available at www.sedarplus.ca.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/276869

News Provided by Newsfile via QuoteMedia

This post appeared first on investingnews.com

Crypto Market Update: Strategy Faces MSCI Index Removal, SEC Freezes Ultra-Leveraged ETF Approvals

Here’s a quick recap of the crypto landscape for Wednesday (December 3) as of 9:00 a.m. UTC.

Get the latest insights on Bitcoin, Ether and altcoins, along with a round-up of key cryptocurrency market news.

Bitcoin and Ether price update

Bitcoin (BTC) was priced at US$92,758.95, up by 4.1 percent over 24 hours.

Bitcoin price performance, December 3, 2025.

Chart via TradingView.

After Bitcoin stared the week with its largest single-day decline in a month, it rallied about 6.6 percent in 24 hours to reclaim US$93,000. This now marks Bitcoin’s highest intraday level in more than two weeks.

Despite the cryptocurrency’s rebound, analysts are still urging caution and advising investors to await clearer macro signals before fully re-entering higher-risk assets.

Ether (ETH) also regained ground and is currently priced at US$3,051.34, up 7.1 percent over 24 hours.

Altcoin price update

  • XRP (XRP) was priced at US$2.19, an increase of 4.6 percent over 24 hours.
  • Solana (SOL) was trading at US$142.17, up by 6.6 percent over 24 hours.

Today’s crypto news to know

Strategy faces possible removal from MSCI indexes

Michael Saylor’s Strategy (NASDAQ:MSTR) is in discussions with index provider MSCI as the company thinks about removing Strategy from major stock indexes, according to Reuters.

MSCI is considering cutting companies whose business model is to buy crypto. Strategy currently holds about 650,000 BTC and has relied on new debt and equity issuance to add to its holdings.

JPMorgan Chase (NYSE:JPM) estimates a removal could trigger up to US$8.8 billion in outflows if other index providers follow suit. Saylor said the company is participating in MSCI’s review process, but questioned the scale of possible selling projected by JPMorgan. A verdict is expected by January 15 of next year.

Sony partner launches stablecoin for Soneium

Startale Group has launched USDSC, a stablecoin pegged to the US dollar that is designed to serve as the default settlement currency on Sony Group’s (NYSE:SONY,TSE:6758) Soneium blockchain.

According to a Decrypt report, the launch includes a new rewards program called STAR Points that is geared at encouraging user activity across payments, liquidity supply and app interaction. Soneium went live earlier this year following a test phase that drew 14 million users and processed 50 million transactions.

Startale CEO Sota Watanabe said USDSC aims to support payments and yield generation across the network’s creator-focused ecosystem. Stablecoin infrastructure firm M0 is providing backend support for issuance and liquidity.

A waitlist for the Startale app is open to users seeking early access to USDSC features and rewards.

SEC blocks rollout of high-leverage ETFs

The US Securities and Exchange Commission (SEC) has halted the approval process for multiple ultra-leveraged exchange-traded funds (ETFs), citing concerns about investor risk.

Warning letters were sent to nine issuers, including Direxion, ProShares and Tidal, affecting products designed to offer more than 2x exposure to equities, commodities and cryptocurrencies.

The SEC said the proposals exceed regulatory limits on allowable leverage and rely on benchmark definitions that may fail to reflect true market volatility. Some of the planned funds target exposure to highly volatile assets. No 3x or 5x single-stock ETFs currently exist in the US due to existing restrictions.

Leveraged ETF trading has surged since 2020, with total assets rising to around US$162 billion.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

Prada Group says it has purchased fashion rival Versace in a deal worth nearly $1.4 billion

MILAN — The Prada Group announced Tuesday that it has officially purchased Milan fashion rival Versace in a 1.25 billion euro (nearly $1.4 billion) deal that puts the fashion house known for its sexy silhouettes under the same roof as Prada’s “ugly chic” aesthetic and Miu Miu’s youth-driven appeal.

The highly anticipated deal is expected to relaunch Versace’s fortunes, after middling post-pandemic performance as part of the U.S. luxury group Capri Holdings.

Prada said in a one-line statement that the acquisition had been completed after receiving all regulatory clearances.

Prada heir Lorenzo Bertelli will steer Versace’s next phase as executive chairman, in addition to his roles as group marketing director and sustainability chief.

The son of co-creative director Miuccia Prada and longtime Prada Group chairman Patrizio Bertelli has said he doesn’t expect to make any swift executive changes at Versace. But Bertelli has said that the company, which places among the top 10 most recognized brands in the world, has long been underperforming in the market.

Prada has underlined that the 47-year-old Versace brand offered “significant untapped growth potential.’’

Versace has been in the midst of a creative relaunch under a new designer, Dario Vitale, who previewed his first collection during Milan Fashion Week in September. He had previously been head of design at Miu Miu, but his move to Versace was unrelated to the Prada deal, executives have said.

Capri Holdings, which owns Michael Kors and Jimmy Choo, paid $2 billion for Versace in 2018, but had been struggling to position Versace’s bold profile in the recent era of “quiet luxury.″

Versace represented 20% of Capri Holdings 2024 revenue of 5.2 billion euros. An analyst presentation for the Prada deal said that Versace would represent 13% of the Prada Group’s pro-forma revenues, with Miu Miu coming in at 22% and Prada at 64%. The Prada Group, which also includes Church’s footwear, reported a 17% boost in revenues to 5.4 billion euros last year.

The Prada Group has already begun preparations to incorporate crosstown rival Versace into its Italian manufacturing system, a point of pride for the group.

“Making a bag for one brand or another, the know-how is the same,″ Bertelli told reporters last week at the group’s Scandicci leather goods factory, which already makes bags for the Prada and Miu Miu brands and will soon add Versace.

The Prada Group’s has invested 60 million euros in its supply chain this year, including a new leather goods factory near Siena, a new knitwear factory near Perugia as well as increasing production at its factory Church’s footwear factory in Britain and expanding another Tuscan factory. That’s on top of 200 million euros in investments from 2019-24.

Prada’s efforts include an academy that has trained some 570 new artisans over the last 25 years in an in-house training academy operating in the Tuscany, Marche, Veneto and Umbria regions.

Last year, Prada hired 70% of the 120 artisans who trained in the academy. The number of trainees rose by 28% to 152 this year.

This post appeared first on NBC NEWS

Shopify says a daylong Cyber Monday outage has been resolved

Outages on Shopify’s e-commerce platform have been resolved, the company said late Monday, bringing to an end a daylong glitch on the annual ‘Cyber Monday’ shopping day.

Some merchants that use Shopify’s service to sell goods online said they experienced issues with checkouts through the company’s point-of-sale system.

Businesses that run on Shopify also had trouble logging into their administrative portals.

In a statement, Shopify said: ‘We had a system degradation that has now been mitigated.’

Throughout the day, business owners posted angry messages directed at the company on X, where Shopify President Harvey Finkelstein had posted ‘HAPPY CYBER MONDAY! Let’s finish strong!’ earlier in the day, with an emoji of a flexed arm.

One business, Costack Spices, based in London, replied: ‘How??? [We] cannot fulfill orders or log on,’ with three red-faced emojis. In a follow-up, the company posted, ‘This is unbelievable.’

Another user wrote, ‘@ShopifySupport I haven’t been able to access it for the last couple hours.’

Shopify replied to most users on X with the same message: ‘We are aware of an issue with Admins impacting selected stores, and are working to resolve it.’

In 2024, merchants using Shopify services recorded $11.5 billion in sales from Black Friday through Cyber Monday, the company said, with more than 76 million customers buying from businesses powered by the platform.

Shopify provides website design tools, online checkout services and digital advertising products to businesses of all sizes. The company says that millions of merchants use its services.

While Shopify’s share of Cyber Monday sales may be limited, smaller businesses that rely on the company to process their transactions may have missed out on crucial sales at the start of the all-important holiday season.

Total Cyber Monday sales are expected to be more than $53 billion, according to Salesforce.

Shopify stock ended the trading day down 5.9%.

This post appeared first on NBC NEWS