E-Mini S&P Tape Reading Question?

Eurex

Active member
105 5
Question:

Please see the attached Image for E-Mini S&P today.

Context - After NFP and 1430GMT US Cash Open i saw this behavior. Price moved from 1744-1745 1H but there was volume discrepancy and offers were pulled before someone thrown a long market or limit looks like a machine. I've explained this in the image and questions are as below. Looking for a helpful insight!

1. The volume is not displayed was it because platform was slow but its displaying volume in ms?

2. The volume missing was it traded in Dark Pool? Will it be so fast to reflect on volume?

To reach 1745 total contracts on offer were 1169+1081+725+411= 3386. So in theory it needs 6722 increment in volume but someone pulled the offers before throwing in the market order to Buy.

Can we gain anything from above knowledge E-mini S&P moved 10 handles later on?

Any useful :idea: will be highly appreciated!

Good Luck Trading!
 

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OrderFlowDashPro

Member
76 9
I'm not sure what you are asking but trying to read the tape in this way, with those sorts of tools, is going to be extremely difficult -- if not impossible. We are the developers of specialized software -OrderFlowDashPro's AlphaReveal -for this task. Our software shows when orders are being pulled real-time and the real volume using advanced tape displays.

There are lots of patterns in the tape that we and other tape readers using our software find valuable. I don't have time to list all of them but just some general tendencies...

market pulls -> markets tends to move in direction of pulls
thin book on both sides -> higher uncertainty & higher risk
thin book on one side and heavy order on opposite side -> an interesting dynamic that occurs only at certain times likely cause by institutions using market orders and hft traders buying and resting orders in front of them

Most orders are executed by algorithms of some sort in today's markets.

Question:

Please see the attached Image for E-Mini S&P today.

Context - After NFP and 1430GMT US Cash Open i saw this behavior. Price moved from 1744-1745 1H but there was volume discrepancy and offers were pulled before someone thrown a long market or limit looks like a machine. I've explained this in the image and questions are as below. Looking for a helpful insight!

1. The volume is not displayed was it because platform was slow but its displaying volume in ms?

2. The volume missing was it traded in Dark Pool? Will it be so fast to reflect on volume?

To reach 1745 total contracts on offer were 1169+1081+725+411= 3386. So in theory it needs 6722 increment in volume but someone pulled the offers before throwing in the market order to Buy.

Can we gain anything from above knowledge E-mini S&P moved 10 handles later on?

Any useful :idea: will be highly appreciated!

Good Luck Trading!
 

tmefutures

Junior member
13 0
Eurex --

Can I ask exactly what you are trying to accomplish by this? Volume really has little to do with how the markets move. Even with the stock market for example, all you have heard about for the past months and years is how the market has kept going higher on 'very thin volume'. The market always has volume but if it is slow and then more volume comes in it will move with bigger bars in a bigger direction but which way? for how long? the volume can never tell you this because it can be there and then goes away. The markets trade based on price so price and price action is all you really need. While i would agree it is nice to know volume for many reasons, using it to try to get in a trade or pick direction does not really help. So more information on what you are trying to do with this volume information would really help? You can post here or PM me anytime. I am happy to try to assist in any way possible.
 
 
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