S&P 500 is showing signs of institutional buying: Buy Imbalance sits at +$126.0 million
Following the Big Money in S&P 500 Stocks
So far in trading today, the S&P 500 ETF is unchanged. SPY stock last traded at $431.58. Large volume bursts in S&P 500 stocks reached 23.7 million shares worth a total of $3.2 billion in transactions. There was notable buy pressure in the Technology and Utilities sectors. Overall, buy volume pressure surpassed sell volume pressure by 0.0%. There were 110 stocks that had more buy pressure on balance, and 86 stocks that had more sell pressure from large institutions. As a whole, there was a net positive +$126.0 million in dollar volume trades. A larger portion of the trading volume matched up in the dark pool, with 52.8% of the large volume transactions being made off-exchange, while only 47.2% was traded on lit exchanges. 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 +$126.0 million, however, the peak buy imbalance for the day occurred at 12:30 PM, when the net buy dollar volume was +$289.7 million. The lowest cumulative sell imbalance occurred at 9:45 AM, when the net sell reached -$70.5 million. The largest spike in imbalance came between 11:15 AM and 11:30 AM when the buy pressure outweighed the sell pressure by a 12.2 to 1 ratio.
Flow by Sector
Consumer Discretionary saw the biggest dollar volume bursts of all the SPDR sectors, with sell dollar volume exceeding buy dollar volume by $52.1 million. 11 of the Consumer Discretionary 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. Sell volume bursts exceeded buy volume by 216,714 shares. As of this afternoon, the average trade price on sell volume was $242.96. Even though the sell pressure has been significant, the stock price has risen $1.29 on the day.