Victory Road Macro
The macro brief from the Victory Road desk. One thesis, one break condition, graded every session.
Written like a morning meeting, not a news recap. The regime call, the reasoning behind it, and the exact level that would end it — before the open, every market day.
Check your inbox to confirm — your first call lands before the next open.
Free daily edition · no card required · cancel anytime · in your inbox by 7:30 ET most market mornings.
1 break level
Named on every call before the open — the exact level that would prove it wrong
95%
Sessions clear of a wrong-way call · May 2026
65%*
Directional regime accuracy, graded against the tape
7:30 ET
In your inbox most market mornings
*Directional regime accuracy across May 2026 (13 of 20 graded sessions). Each session is graded against the tape — the call counts only when the S&P and VIX move with the regime we named. Directional grading began May 4, 2026.
Active portfolio managers
Traders
Macro & strategy desks
Serious individual investors
What you get
The call, the reasoning, and what breaks it.
Every brief moves from conclusion to evidence to the trade. The free edition gives you the call, the market snapshot, our public track record, and a preview of the reasoning; members get the full analysis and the positioning.
The regime call Free
Three Flash cards state the session's regime, the binding catalyst, and the cross-asset confirmation — the conclusion, up top.
Yesterday's scorecard Free
We grade our own prior call every morning — the directional regime read and the tactical rotation, scored separately so you see exactly what’s working. The running record is in every edition.
The Macro Analyst Take Members
The second-order force most desks miss, mapped to a named historical parallel — and what makes today different.
The Break Condition Members
The single, falsifiable level that flips the thesis. Memorize one line and you know what to watch.
Ranked sector rotation Members
Long / short pairs tied to the day's thesis, with phase tags and volume confirmation — scored against the tape each session.
Rates, credit & positioning Members
Yield curve, real rates and the Fed path, credit spreads, VIX term structure, CFTC positioning and the economic calendar that moves them.
How it works
The structure, in three steps.
1
Sign up free
Get the regime call and graded scorecard in your inbox by 7:30 ET most market mornings.
2
Read the call
Three Flash cards tell you the regime, the key data, and the cross-asset signal — the conclusion, up top.
3
Add the full brief when it earns it
Members unlock the analyst take, break condition, sector pairs, and the full rates and credit picture.
A real brief, not a mock-up
May 26, 2026 — the day the regime flipped.
After seven sessions calling for Brent to break $100, the trigger fired. Below are the actual Flash cards that hit subscribers’ inboxes before the open. The full edition is published in its entirety below.
Victory Road Macro · Tue, May 26, 2026
Brent Cracks $96 — The Inflation Gate Fires
Recovery regime
Graded: Hit
Session Regime
Recovery regime live: Brent closes at $95.99, firing yesterday’s gate — cyclical broadening unlocked.
Key Data
Consumer Confidence 10am ET, 85 estimate vs 84 prior — beat locks rotation, miss complicates cyclical bid.
Cross-Asset Signal
High Yield Option-Adjusted Spread at 278 basis points anchors the recovery — credit foreshadowed this shift all month.
☑ The next morning’s grade: Hit · Brent closed -7.29% on the day this brief named the gate.
🔒 The full edition continues with the analyst take and historical parallel, the new break condition, ranked sector long/short pairs, the rates and credit picture, and the full economic calendar.
Why it’s different
Conviction, not commentary.
Most market notes hedge every sentence. Ours stakes a position and tells you what would prove it wrong.
Opinionated & falsifiable
One thesis per day with a named break condition — the exact level that flips the call. No “on the other hand.”
Graded in public
Two calls, graded separately against the tape by a fixed rule, not by us: the directional regime read (did the S&P and VIX move with the regime we named) and the tactical sector rotation. Hit = both the regime read and the day’s sector pair worked · Partial = one of the two · Miss = neither. The running record is in every edition — you see exactly what’s working, not a single blended score.
Plain-English translation
Every section ends with what it means for mortgage rates, hiring, and the cost of borrowing — written for the curious, not just the credentialed.
Membership
Start free. Upgrade when it’s earned its place.
Read the free edition for as long as you like. When you want the reasoning and the trades, one click.
Under $6 a trading day — a graded, conviction-led macro call before the open, with a public record you can audit.
Free
$0
The daily call & our track record
- The regime call (3 Flash cards)
- Our public track record, up top
- Yesterday's graded scorecard
- Market Snapshot — S&P, VIX, Brent
- A preview of the day's reasoning
- The Bottom Line + plain-English read
- Macro Analyst Take & Break Condition in full
- Ranked sector rotation pairs
- Rates, credit & positioning
Members
Victory Road Macro
$149/mo
Everything in Free, plus the full brief
- Everything in the free edition
- The Macro Analyst Take, in full
- The Break Condition for every thesis
- Ranked sector long / short pairs
- Yield curve, real rates & Fed path
- Credit spreads, VIX term & CFTC
- Full economic calendar & catalysts
$5.70 per trading day · cancel anytime
The desk
Victory Road Capital Management
Victory Road Macro is the daily regime read from the desk at Victory Road Capital Management — the same framework we use to run capital. One thesis, the levels that matter, and the discipline of grading every view out loud, before the open.
We don’t ask you to trust a bio. Every call is named in advance, tied to a falsifiable level, and graded against the tape in public — so the record speaks before we do. Read it free for as long as you like; it earns its place or it doesn’t.
Read by active portfolio managers, traders, and serious individual investors before the bell.
Questions
What’s actually free?
Every morning you get the regime call, our public track record up top, yesterday’s graded scorecard, the Market Snapshot, a preview of the day’s reasoning, and the Bottom Line — in full, forever. Members add the full analyst take, the break condition, and the sector and rates positioning.
When does it arrive?
Most market mornings by 7:30 ET — before the open, when it’s still actionable.
Can I cancel anytime?
Yes. Manage or cancel your membership in one click from your account — no email, no friction. Annual members can switch back to free at renewal.
Is this investment advice?
No. Victory Road Macro is macro research for informational purposes only and is not investment advice tailored to any individual.
Who is it for?
Active portfolio managers, traders, and serious individual investors who want a decisive daily read on the macro regime — not another headline digest.
Can I get an invoice for the annual?
Yes. A receipt is issued automatically for every annual subscription, and it doubles as an invoice for expense reimbursement. If you need a custom billing reference, W-9, or anything else for AP, email accounts@victory-road.ai and we’ll send one over.
Do you offer a team or multi-seat license?
Yes — for desks of three or more we offer a team plan with shared billing and per-seat access. Reach out to accounts@victory-road.ai for pricing.
Victory Road Macro
Victory Road Macro is published by Victory Road Corporation. Content is macro research for informational purposes only and does not constitute investment advice tailored to any individual. The published track record reflects the brief’s research calls only and is not the performance of any fund managed by Victory Road Capital Management. Manage subscription.