Phantom bar is a false tick appears on, say, SPY intraday chart. At the time when it appears, it's obviously a wrong data but we found, given a few days, usually where the phantom bar hits, would be reached eventually, so we kind think the phantom bar actually is a real trade in the dark pool and those big guys who made the phantom bar (the trade) would do their best to make sure where the bar points gets reached in the coming days so that they can actually make money.
Here's what Phantom bar looks like:
For your conveniences, our dear friend, a frequent contributor to this forum, MrMiyagi, created a spreadsheet to track all those phantom bars. Here's where he stores the spreadsheet: http://www.mediafire.com/download/xuv3f ... /pbars.xls
He explained how to read his spreadsheet here: