S&P 500 is showing signs of institutional buying: Buy Imbalance sits at +$1.6 billion
Following the Big Money in S&P 500 Stocks
So far in trading today, the S&P 500 ETF is up 0.4%. SPY stock last traded at $549.11. Large volume bursts in S&P 500 stocks reached 46.1 million shares worth a total of $6.8 billion in transactions. There was notable buy pressure in the Consumer Discretionary and Technology sectors. Overall, buy volume pressure outpaced sell volume pressure by a 1.7 to 1 ratio. There were 119 stocks that had more buy pressure on balance, and 90 stocks that had more sell pressure from large institutions. As a whole, there was a net positive +$1.6 billion in dollar volume trades. A greater amount of the trading volume occurred on lit exchanges, at 60.2%, compared with 39.8% 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 +$1.6 billion, however, the peak buy imbalance for the day occurred at 1:30 PM, when the net buy dollar volume was +$1.7 billion. The largest spike in imbalance came between 10:30 AM and 10:45 AM when the buy pressure outweighed the sell pressure by a 4.6 to 1 ratio.
Flow by Sector
Consumer Discretionary had the highest amount of dollar volume bursts of all the SPDR sectors, with buy dollar volume exceeding sell dollar volume by $1.1 billion. 14 of the Consumer Discretionary stocks had positive dollar balance, versus 11 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 surpassed sell volume by 3.8 million shares. As of this afternoon, the average purchase price on buy volume was $276.47. The stock has rallied $23.91, indicating strength following the trade.
