S&P 500 is showing signs of institutional buying: Buy Imbalance hits +$1.2 billion
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 $578.82. Large volume bursts in S&P 500 stocks reached 40.8 million shares worth a total of $6.5 billion in transactions. There was notable buy pressure in the Consumer Discretionary and Health Care sectors. Overall, buy volume pressure surpassed sell volume pressure by a 1.5 to 1 ratio. There were 93 stocks that had more buy pressure on balance, and 136 stocks that had more sell pressure from large institutions. As a whole, there was a net positive +$1.2 billion in dollar volume trades. A greater amount of the trading volume occurred on lit exchanges, at 61.8%, compared with 38.2% 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 +$1.2 billion, however, the peak buy imbalance for the day occurred at 1:45 PM, when the net buy dollar volume was +$1.2 billion. The largest spike in imbalance came between 9:30 AM and 9:45 AM when the buy pressure outweighed the sell pressure by a 5.8 to 1 ratio.
Flow by Sector
Consumer Discretionary saw the most dollar volume bursts of all the SPDR sectors, with buy dollar volume exceeding sell dollar volume by $1.6 billion. 12 of the Consumer Discretionary stocks had positive dollar balance, versus 16 that were net negative.
Individual Stocks
TSLA stock had the single biggest volume burst activity of all the S&P 500 stocks. Buy volume bursts exceeded sell volume by 6.4 million shares. As of this afternoon, the average purchase price on buy volume was $251.33. The stock has rallied $44.76, indicating strength following the trade.
