SpyGate ended the day Monday with a total of 119 program trades detected with six sell programs in the morning and no buys. A moderate bot day. There were more sells than buys. The day ended with a moderate-sized difference of $2B to the sell-side on a day that traded about $21B total in detected programs.
A set of large sell programs fired post-opening around 9:38 ET. The morning was all about selling with six sell programs firing in the morning.
Price Action During Program Trades
Despite program trading trying to push the markets lower, that 4169 level held strong and after a low of 4166 set at 10:16 was rejected, the bots stopped trying and the market rose back up into the noon hour. A pair of sell programs had some temporary selling, but the Final-2 hours starting at 14:00 found an early indication of a buy-imbalance into the close and off the markets ran into the high of the day around 15:40.
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SpyGate detects several different types of programs trades. An STT program is a simultaneous triggered trade. The detector looks for a basket of symbols trading at the same time. The price action around these detected trades helps us deduce if the program was a buy or a sell. Our detector reports the number of symbols in the trade, the number of individual trades executed, and the dollar amount of those trades.
What is SpyGate?
SpyGate is a proprietary tape reader that analyzes price action on all the exchanges and sniffs out unusual trades. The detector follows price action and accumulates adaptive knowledge using Machine Learning (ML) and Artificial Intelligence (AI) to recognize algorithms and program trades as they execute. The first implementation detects STT Programs ( Simultaneously Triggered Trades). These basket trades execute thousands of transactions in milliseconds. The transactions are in millions of dollars. This product is under heavy development and is currently available free for our traders in our Trade Chat trading room along with the MiM and live breaking news. You can join us by purchasing a subscription to the MiM.