The morning letter · free, every weekday
One page, in this order, every morning.
- 01The mood and the news. Is the market nervous or calm, and the one red-folder event that matters today.
- 02The levels and your size. Where Nasdaq and gold tend to stall or speed up, in your broker's quotes, and what to risk today.
- 03A note from the desk. Two or three sentences on what we are watching.
Levels come from options open interest and volume: the call and put walls where dealer hedging tends to slow price, the gamma flip where moves start to run, and the expected move for the day. They are converted to IG and OANDA prices, so you can use them on your own chart.
Sample · Monday 19 Oct · news fills in from the live calendar
St. Joseph
MARKET RESEARCH
Morning letter
MON 19 OCT 2026
NAS100 · XAUUSD · SAMPLE
01 Macro / regime
Risk mood
—
filled from the morning's data
Nasdaq
Breaks can run
below the gamma flip
Gold
Choppy
sitting on the flip at 4,155
Volatility
1.34× normal
smaller size, wider stops
Today's news
—
Red-folder event, from the live calendar
- Headline from the morning's sources
- Headline from the morning's sources
- Headline from the morning's sources
02 Levels + quant
NAS100 · IG
Magnet29,765
Call wall29,315
Price29,186
Put wall29,065
Weekly levels
XAUUSD · OANDA
Call wall4,205
Magnet4,160
Price4,157
Flip4,155
Put wall4,130
Expected move 4,106 – 4,209
Size today · $6K prop
$15
risk per trade · normal $20
40 pts
Nasdaq stop · normal 30
$0.37
per Nasdaq point
03 Author's note
Written by the desk each morning. Two or three sentences on what we are watching.
— St. Joseph Desk
Free, every weekday
Tomorrow's levels and size, before the open.
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