SpyGate ended the day Thursday with a total of 401 program trades detected. A very busy bot day that comes on the heels of Wednesday’s busy day. There were slightly more sells than buys. The day ended with a difference of just $663M to the sell-side which on whole is a very balanced day on a day that traded about $116B total in detected programs. I believe that is the largest date since we started running SpyGate in early spring.
Morning action was dominated by buy programs. On a day driven down with heavy volume you need to wait for the bots to come back buying into the markets before you reverse your bias.
The buy bots came alive just past noon and clustered a clear signal that the massive selling was over and buying was back in vogue. The final-2 was mostly sideways. There are no buy arrows at the end of the day only because I was tired of drawing them in. From 15:30 into the close the program trade was fairly equal on both sides.
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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.