SPY: Negative Money Supply Growth Is A Major Warning Sign

Jan. 09, 2023 8:00 AM ETSPDR S&P 500 Trust ETF (SPY)ABX:CA, EPD, GOLD161 Comments


  • For the first time in over three decades, the money supply decreased in November.
  • We believe this is a major warning sign for the economy and potentially the S&P 500 by extension.
  • We share our outlook for stocks and our approach in 2023.
  • Looking for a portfolio of ideas like this one? Members of High Yield Investor get exclusive access to our subscriber-only portfolios. Learn More »

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For the first time in a long-time, the M2 money supply decreased at the end of 2022.

Data by YCharts

We believe this sudden trend reversal is a major warning sign for the economy and potentially the S&P 500 (

Data by YCharts


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This article was written by

Samuel Smith profile picture
Become a “High Yield Investor” with our 8% Yielding Portfolio.

Samuel Smith is Vice President at Leonberg Capital and manages the High Yield Investor Seeking Alpha Marketplace Service.

Samuel is a Professional Engineer and Project Management Professional by training and holds a B.S. in Civil Engineering and Mathematics from the United States Military Academy at West Point. He is a former Army officer, land development project engineer, and lead investment analyst at Sure Dividend.

Disclosure: I/we have a beneficial long position in the shares of EPD, GOLD either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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