S&P 500 is showing signs of institutional buying: Buy Imbalance reaches +$890.4 million
Following the Big Money in S&P 500 Stocks
So far in trading today, the S&P 500 ETF is up 0.9%. SPY stock last traded at $574.94. Large volume bursts in S&P 500 stocks reached 39.9 million shares worth a total of $4.5 billion in transactions. There was notable buy pressure in the Technology and Consumer Discretionary sectors. Overall, buy volume pressure exceeded sell volume pressure by a 1.5 to 1 ratio. There were 127 stocks that had more buy pressure on balance, and 112 stocks that had more sell pressure from large institutions. As a whole, there was a net positive +$890.4 million in dollar volume trades. A greater amount of the trading volume occurred on lit exchanges, at 55.7%, compared with 44.3% 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 +$890.4 million, however, the peak buy imbalance for the day occurred at 1:15 PM, when the net buy dollar volume was +$1.1 billion. The largest spike in imbalance came between 10:00 AM and 10:15 AM when the buy pressure outweighed the sell pressure by a 6.2 to 1 ratio.
Flow by Sector
Technology had the largest dollar volume bursts of all the SPDR sectors, with buy dollar volume exceeding sell dollar volume by $682.8 million. 21 of the Technology stocks had positive dollar balance, versus 17 that were net negative.
Individual Stocks
PLTR stock had the single biggest volume burst activity of all the S&P 500 stocks. Buy volume bursts exceeded sell volume by 6.1 million shares. As of this afternoon, the average purchase price on buy volume was $49.88. The stock price increased $9.20, indicating strength following the trade.
