By Dmitry Pargamanik
S&P 500 is showing signs of institutional buying: Buy Imbalance reaches +$1.5 billion
Following the Big Money in S&P 500 Stocks
So far in trading today, the S&P 500 ETF is up 1.1%. SPY stock last traded at $419.20. Large volume bursts in S&P 500 stocks reached 49.5 million shares worth a total of $6.2 billion in transactions. There was notable buy pressure in the Consumer Discretionary and Technology sectors. Overall, buy volume pressure exceeded sell volume pressure by a 1.7 to 1 ratio. There were 116 stocks that had more buy pressure on balance, and 107 stocks that had more sell pressure from large institutions. As a whole, there was a net positive +$1.5 billion in dollar volume trades. A greater amount of the trading volume occurred on lit exchanges, at 65.8%, compared with 34.2% being transacted in the dark pool. To learn more about large volume trades, check out our help section.
Daily Chart: Large Volume Bursts Over Time
As you can see from the chart below, the most recent cumulative buy imbalance is +$1.5 billion, however, the peak buy imbalance for the day occurred at 1:15 PM, when the net buy dollar volume was +$1.6 billion. The largest spike in imbalance came between 9:45 AM and 10:00 AM when the buy pressure outweighed the sell pressure by a 5.1 to 1 ratio.
Flow by Sector
Technology experienced the most dollar volume bursts of all the SPDR sectors, with buy dollar volume exceeding sell dollar volume by $809.6 million. 29 of the Technology stocks had positive dollar balance, versus 15 that were net negative.
TSLA stock had the single biggest volume burst activity of all the S&P 500 stocks. Buy volume bursts exceeded sell volume by 2.8 million shares. As of this afternoon, the average purchase price on buy volume was $192.73. The stock has rallied $11.06, indicating strength following the trade.