Wednesday’s SpyGate detected 125 program trades, which was 106 more than the previous trading day. That is a busy day. At the end of the day, the sells outnumbered the buys and a deficit of 2.5B on the sell-side was made on a decent $43B in total trades. A busy news afternoon did all the trading.
The bots laid quiet all morning waiting to hear from the Fed. As news was released at 14:00 there were 18 sell programs detected and the SP500 fell more than 30 points in a minute. That low was double tested between the release and when the sell program stopped pounding the tape around 14:45 and price recovered to its pre-14:00 pricing on the close. The MOC was a sell which led to a final sell-off. The AM session had only one buy bot triggered.
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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.