SpyGate ended the day Monday with 118 program trades detected. A light program day. There were more buys than sells but the sells were bigger in size. The day ended with $4b more sells than buys on a day that traded $33B in detected programs.
A small early buy program was the first program trade of the day post opening. As the markets rose, the bots started selling the highs pretty successfully. In the afternoon the sell programs turned quiet as buy programs took over the tape.
Price Action During Program Trades
Price action was quite whippy, traders needed to be quick. Around 13:00 the selling was over and there was a slight rise and chop until a bullish close.
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 ( 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.