SpyGate detected 141 STT program trades which was 2 less than the trading day before. A moderate day for bot trading. There were more sell programs then buys with the sells creating a $400M sell imbalance in terms of program trades. The total trade value for the day was a large $26B, an average day.
Early AM session on the opening sell hosted a couple of small programs. As the opening pullback shot back to the day’s highs it was boosted by some buy programs just before 11:00. Mid-day saw some defensive sell programs which kept a lid on the markets. All the price action was in the morning. The close was a bit bullish although there was no MOC imbalance.
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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.