Investors should be keeping an eye on the stock market's advance/decline line, Josh Brown of Ritholtz Wealth Management said Tuesday.
"You're looking at new all-time record highs in the Russell 2000, in the mid-caps. You're looking at microcaps breaking out," he said. "That is not telling you that the Street is expecting a sell-the-news reaction. And I've got to tell you, if you're an investor, what you should be looking at at new highs is advance/decline more than almost any other indicator, and market breadth right now is absolutely fantastic. This is a broadly participated-in rally."
(Read more: Congress needs 'a violent move' in market: Dick Bove)
With a partial government shutdown in its 15th day and with two days to go until the United States reaches its debt limit, all eyes are on Washington, Brown noted on CNBC's "Fast Money."
"Everyone in the world is thinking about this. Every global government, every corporation, everyone that's got anything to do with the capital markets is concerned about this because of what the U.S. Treasury means to global commerce," he said. "It's literally the most important thing there is. It's the counterpart to everything."
Joe Terranova of Virtus Investment Partners said that he's looking past the dysfunction in D.C.