SpyGate detected 153 STT program trades which is 50 less than the day before, a normal day of trading. Buy programs were larger than sell programs resulting in a decent deficit of $4B to the buy-side.
Very little action in the morning. A couple of buy programs fired around 10:10 and helped propel the markets into the morning highs. Defensive sell programs sporadically fired with the market moving sideways into a tight 8-point range into the close. Buy programs dominated the close and took the day’s selling deficit positive into the close.
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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.