SpyGate ended the day Monday with a total of 116 program trades detected with only four sell programs in the morning. A light bot day. There were slightly more sells than buys. The day ended with a decent-sized difference of $5B to the sell-side on a day that traded about $32B total in detected programs.
A small sell program fired post-opening just before 10:00 ET. The morning was all about selling with a decent sell program firing at 10:17:33 with 26K trades on 287 symbols for $312M. The bots went to sleep from there into the last half hour of trading where sells out-numbered buys.
Price Action During Program Trades
Sell bots seemed to want to defend that 4183-4185 area. Entries there did produce short trades but once the bots stopped the market did its slow rise until the last half hour of trading when at 15:30 a series of sell programs drove the tap back down to new daily lows. That was quickly rejected and some sideways volatility chop closed out the day.
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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.