SpyGate detected 120 STT program trades on Friday which was 21 less than the trading day before. An average day for bot trading. There were more buy programs then sells with the sells creating a $1.2B buy imbalance in terms of program trades. The total trade value for the day was a small $17B, an average day.
The tape drifted higher all day, fueled by a miss in the Jobs numbers and the promise of a more accommodating monetary policy. Don’t fight the Fed. The AM session had just 3 bots, all were sells and all had very little effect as far as changing market direction. Mid-day was evenly balanced between the buys and the sells. Overall, the day bots supported the tape move in buys out-numbering sells and building a positive imbalance of 1.2B.
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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.