This type of indicator has sometimes moved ahead of stock market moves by around 3 to 6 months. Now it is flashing a warning.
⚠️Liquidity conditions are DETERIORATING rapidly: The Excess Liquidity Leading Indicator has rolled over sharply and turned negative for the first time since 2021. This metric measures real money growth relative to economic growth, and historically has led the US stock market… pic.twitter.com/N5Ua16Fwi4 — Global Markets Investor (@GlobalMktObserv) June 19, 2026 Add in the recent Fed …