First, the small caps in the Russell are hanging tough again today, but they are still pressed up against the 50-day moving average.
Next, a few days ago I wrote about the weakness in the Prison REITs, namely CXW GEO. A reader then referenced how marijuana convicts were likely to be released from overcrowded prisons, especially. That rationale makes sense, and when we update the Geo Group on the second chart below, you can see the bear flag potential after the major breakdown.
Long are the days of Funions and Bugles from the prison canteen, along with cartoons in the rec room and hacky sack in the courtyard.