I remain optimistic about stock picking and trading as we head into Thanksgiving week.
Trends for the major equity indexes remain a mix of bullish, neutral and bearish projections.
Energy prices have turned out to be the primary driver for what now appears to be 'out of control' consumer-level prices.
The indexes have been hiding poor action in growth stocks and better action in small-caps.
I can see the appeal if someone is worried about a deeper correction in small-caps.
The good news is that some of the frothy speculation has cooled, and skepticism is building.
Right now, there is tension between overbought technical conditions and an appetite for speculative trading.
To navigate small-caps effectively, it is much better to focus on the individual names rather than the indices.
Given that cannabis stocks have only begun to turn higher, I'm not going overly aggressive on this trade.
It wasn't apparent in the senior indexes, but parts of the market suffered their worst corrective action since September.