June 23, 2026
Top Pick Performance
Our top 5 Morning Note picks did not fair well yesterday but during the morning show we designated MU as the #1 pick of the day which nearly hit the $1250 target in after-hours.
*This newsletter does not constitute investment advice. Past performance is not indicative of future results. StoryTrading contributors may buy, sell, or liquidate positions discussed at any time without notice. See storytrading.com/disclaimer for important disclosures.
Macro Discussion
Markets are sharply down this morning. There were several warning signs yesterday and we were planning on downgrading to yellow alert this morning as a result. Unfortunately the market has dropped heavily overnight before our signal change.
The reason for our concern despite indices performing well was:
1. TLT dropped yesterday instead of rising which it would normally do with lower oil - indicating some concern about interest rates.
2. Poor breadth. Despite IWM being up nearly 1%, we had a hard time finding small caps or growth stocks on our watch list which was green yesterday.
3. Extreme volatility which has made it very hard to trade individual stocks as of late even when indices are up on the day.
Those warning signs were worth paying attention to. The Nasdaq is down 2.5% this morning in reaction to Asian markets which are down significantly including the Korean market which is down 10%.
While this sharp dip could be a great entry for a day trade today, point #3 above, extreme volatility, will not be solved any time soon. It’s just too difficult to trade at this time.
We are therefore downgrading to a red alert ahead of MU earnings (tomorrow after the close) and PCE inflation data (Thursday before the open) later this week. Under red alert, we advise a mostly cash portfolio for short-term trade accounts and waiting for a market which is easier to trade.
Today’s Signal: 🔴
Unlock the Full Morning Note
Get access to the complete Morning Note, featuring our macro outlook, Trump World developments, proximal catalysts, and high-conviction trade ideas before the opening bell.
Members inside our Discord community also receive access to our current Official Trade Account allocations, giving you a transparent look at how we're positioning capital in real time. The Official Trade Account returned 667% in 2025.
Ready to take your trading to the next level? Compare membership options and find the plan that's right for you at StoryTrading Pricing Plans.
Use the link below to save 15% and gain access to the Morning Note. 👇
