SpyGate ended the day Monday with 127 program trades detected which was ten less than on Friday. There were slightly 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 very late in the morning. Just before noon eastern time there was a small sell program detected at 11:24:51. A second sell program fired at 12:18:45. Two large buy programs fired during the 12:18 minute and sent the ES up to its day’s highs.
Price Action During Program Trades
Starting during the Final-2 hours, a decent buy program fired as the first of the early market on close indications were published. After some sideways action, the tape zig-zagged higher from around 15:20. A series of buy programs fired into the 15:50 market on close reveal and took that tape up another 10 ES points to close on the highs. Very slow volume and bot trading.
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.