SpyGate detected 104 STTprogram trades which is 50 less than the day before, a moderate day of trading. There were slightly more sell programs than buy programs. The sell programs accumulated a decent deficit of $5.84B on a day that totaled $28B in program trading.
The morning action was dominated by a few sell programs which kept the markets from rising. Selling took hold after the 10:00 programs taking the markets to the morning low around 10:30. A buy program triggered at 10:55 for $112M and the markets returned to their previous levels and put in the day’s highs just before 12:30. A sell program at 12:29 followed by another at 12:56 sent the markets lower into the Final-2 hours of trading.
During the Final-2 the sell programs dominated again sending the markets into a low on the close.
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.