SpyGate ended the day Wednesday with a total of 357 program trades detected with four sell programs in the morning and one buy. A busy bot day. There were more sells than buys. The day ended with a decent-sized difference of $4B to the sell-side on a day that traded about $80B total in detected programs.
Morning action for program trades continues to be slow. Just six trades before noon. A double-tap at 9:35 put the low of the morning in. One small buy program fired off at 9:52 on the way to the high of the morning. The bullish feel was gone when the 10:10 sell program fired and the markets traded down into noon.
Afternoon action was a different story. The programs battled in a good 18 point trading range starting at 14:00 and continuing into the close. At 14:00 during the Final-2 the markets rose on moderate volume and triggered two sell programs. From that point until 14:34, there were a few sell programs. At 14:34 the buy programs awoke and up we climbed into the high of the day which was capped about 15 points higher at 14:45 with competing buy and sell programs. It was not until 15:11 when the sell became aggressive and returned price back to its 14:00 levels. From there it was just back and forth into the close. Neither side made progress as the scrum moved into the close mostly unchanged from the 14:00 price.
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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.