S&P 500 is showing signs of institutional buying: Buy Imbalance reaches +$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 $681.32. Large volume bursts in S&P 500 stocks reached 46.7 million shares worth a total of $7.6 billion in transactions. There was notable buy pressure in the Technology and Consumer Discretionary sectors. Overall, buy volume pressure surpassed sell volume pressure by a 1.6 to 1 ratio. There were 154 stocks that had more buy pressure on balance, and 144 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 61.9%, compared with 38.1% 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 of +$1.6 billion occurred at 1:45 PM. This also represented the peak buy imbalance for the day. The largest spike in imbalance came between 10:45 AM and 11:00 AM when the buy pressure outweighed the sell pressure by a 5.5 to 1 ratio.
Flow by Sector
Technology had the highest amount of dollar volume bursts of all the SPDR sectors, with buy dollar volume exceeding sell dollar volume by $1.3 billion. 33 of the Technology stocks had positive dollar balance, versus 24 that were net negative.
Individual Stocks
INTC stock had the single biggest volume burst activity of all the S&P 500 stocks. Buy volume bursts exceeded sell volume by 3.5 million shares. As of this afternoon, the average purchase price on buy volume was $47.15. The stock has rallied $1.80, indicating strength following the trade.