One of the strongest pieces of evidence supporting this bull market has nothing to do with where the major indexes are trading.
It has to do with participation.
One of my favorite ways to measure that is through the Advance-Decline Line.
It's a simple indicator that tracks the number of stocks advancing versus those declining each day, giving us a clear picture of how broad the market's strength really is.
And right now, the message couldn't be much clearer.
The Advance-Decline Lines for the S&P 500, S&P 400, and S&P 600 have all pushed to fresh all-time highs.
Take a look at the chart:
That's exactly what you want to see in a healthy bull market.
Rallies backed by broad participation tend to be far more durable than those driven by only a handful of stocks.
As long as that's the case, I'll continue focusing on finding opportunities rather than looking for reasons to turn defensive.
If breadth starts rolling over, that's a conversation for another day.
Before you go, I want to make sure you're aware of Grant's free live session this Wednesday, July 15, at 8:00 PM ET.
Grant has a knack for spotting opportunities long before they become consensus, and he'll be sharing the framework behind his process live.
I'm looking forward to tuning in, and I think you'll get a lot out of it too.
