Quiet day on the SpyGate detector. Only 174 trades monitored and with a lean towards selling with a deficit at the end of the day of 2.3B to the sell-side. This market is allowing sellers to get out without affecting the tape.
Price Action During Program Trades
It was past noon before we saw our first Buy program. Sixteen sell programs fired off all morning. The tape soon climbed up to the day’s high area after that first buy STTProgram trade fired off. Selling programs still dominated the afternoon, but buy programs past the 14:00 market become more active and defended the tape during the closing ten minutes.
A barrage of programs fired off starting at 15:00 ET and into the close. For more details around the Market On Close you can see our MiM daily report.
What is an STTProgram trade?
SpyGate detects several different types of programs trades. The STT progam is a simultaneous triggered trade where a broad number of symbols trade at the same time with considerable dollar volume. As the trades are detected, the price action around the trade 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. This detector follows price action and accumulates adaptive knowledge using Machine Learning (ML) and Deep Learning Artificial Intelligence (AI) to deduce algorithms and program trades as they are executing. The first implementation detects STT Programs ( Simulatanousely Triggered Trades). These trades are in the many thousands and millions of dollars and are executed all at once on many different symbols. This product is under heavy development and is currently available free for our traders in our TradeChat trading room along with the MiM and live breaking news. You can join us by purchasing a subscription to the MiM.