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← Market structure
Market breadth
5 min read · Educational content only, not investment advice.
What breadth counts
Breadth counts how many stocks are rising versus falling, usually across the whole exchange.
Advance/decline ratio = advancing ÷ declining. Above 1 means more stocks rising.
Narrow versus broad moves
An index rising while most stocks fall is narrow: a few heavyweights carry it, and it is fragile.
Broad participation — most stocks moving with the index — supports the move.
Key takeaways
- Check participation, not just the index.
- Narrow rallies fail more easily.