Back to normal in both trading action and data. Yesterday SpyGate detected 111 program trades. That is an average day. At the end of the day, the sells outnumbered the buys and a deficit of 3B was made on $18B in total trades. An average day.
There was some back and forth on the open with the AM session (09:31 => 12:00) having just 7 programs with a slight negative edge. The bots shut down at noon and didn’t fire until the close. It was not a bot-driven tape. The market lost its sideways action at around 14:27 as the Final-2 close was taking place and our MiM product was showing a growing sell-side MOC.
SpyGate is free to members of our trading community. Join Us: MiM
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.