What Is Market Breadth? Advancers, Decliners & the A/D Line
Market breadth looks at how many stocks are going up versus down on a given day. It answers a question a single index number can't: is the whole market participating, or are a handful of giants doing all the work?
Advancers, decliners and the percent up
The simplest breadth measures are counts:
- Advancers — the number of stocks that closed higher.
- Decliners — the number that closed lower.
- Percent up — the share of all stocks that rose. If 65% of stocks closed higher, the day was broadly positive; if 30% did, it was broadly weak.
Why breadth can matter more than the index
A market index like the S&P 500 is weighted toward its biggest companies. That means a few mega-caps can push the index up even while most stocks are falling — a "narrow" market that looks healthier than it is.
When the index rises and breadth is strong (most stocks up), the move is broad and better-supported. When the index rises but breadth is weak, the rally is resting on a few names — something worth noticing.
The advance-decline line
The advance-decline (A/D) line is a running total: add the net advancers (advancers minus decliners) each day. A rising A/D line means participation is expanding; a falling A/D line while the index holds up is a classic sign of a narrowing, weakening market. It's one of the oldest and most-followed breadth indicators.
See it in the live market
Trader Club's daily market recap leads with breadth: the percent of US stocks that closed higher, the advancers and decliners, and the median move across the market — a plain-English read on whether the day was broadly strong or weak. Every news page also compares a single stock's move to the market that day, so you can see whether a mover was swimming with the tide or against it. To go deeper on the individual names, browse the daily screeners.
See breadth in the daily market recap; each why page also compares that stock against the whole market that day.
Frequently asked
What is market breadth?
Market breadth measures how many stocks are advancing versus declining across the market, rather than the level of a single index. It shows whether a move is broad-based or driven by just a few large companies.
What are advancers and decliners?
Advancers are the stocks that closed higher on the day; decliners are those that closed lower. The balance between them — and the percent of stocks that rose — is a quick read on the market's overall health.
What is the advance-decline line?
The advance-decline (A/D) line is a running cumulative total of net advancers (advancers minus decliners) each day. A rising line signals broad participation; a falling line while an index holds up warns that the rally is narrowing.
Where can I see market breadth?
Trader Club's daily Market Today recap reports the percent of US stocks that closed higher, the advancer/decliner counts and the market's median move, rebuilt after every trading session.
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