SpyGate ended the day Friday with 134 program trades detected which was twenty more than on Thursday. There were many more buy programs than sell programs, particularly during the last 10 minutes of the day as the market shot up.
The first programs post open were two buy programs quite early followed by three sell programs in the ten o’clock hour. Sell programs dominated the morning tape keeping pressure on a slow rise. The AM tape was similar to all the other mornings of the week.
Price Action During Program Trades
The double sell programs at 13:30 changed the momentum slightly to the sell-side. During the Final-2 hours of trading, the bots didn’t wake up until around 15:15 when it was buys all the way. A nice ride up into the close with a decent buy MOC closed the week on new all-time highs.
SpyGate detects several different types of programs trades. An STT progam 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 ( Simulatanousely Triggered Trades). These basket trades execute thousands of transactions in miliseconds. The transactions are in millions of dollars. 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.