SpyGate on Monday detected 150 STT program trades. This is a moderate day of trading. Buys outnumbered sells, but the sells were active during the day and left a deficit of 2B to the sell side as the sell programs were larger in total.
We did not get our first buy program until 13:05. Before that time there were 8 sell programs that sold the market down from the high of the day into the morning low. The market was bought right back up at 11:30, not sure if it was news but we did not detect any buy programs there. Sell programs continued to fire during the first hour of the Final-2 against a rising market. Buy programs began to dominate the tape into the close, possibly closing out the morning trades.
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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.