We have a slow start to the holiday week, with the indices trading close to flat and breadth running just slightly positive. Most notable is that the overnight news flow is being ignored. Overnight weakness was bought and things are steady while traders look for action.
While seasonality is positive this week, Monday and Tuesday don't have a strong edge. Wednesday and Friday are historically the best, and the Monday after Thanksgiving is historically week. This pattern is not as strong in recent years, but is still in play.
For many traders, the issue isn't the indices this week, but the trading action in individual stocks. They are looking for the action, and there is always something of interest.
It is narrow, but the appetite for speculation is there. The key is finding the right vehicles. The indices are lifeless, so focus on stock picking.