Stock Bull Market Continues--Gold declines

Nasdaq hit a new high with only one distribution day in past few weeks, 5 distribution days for s&p 500, Dow and NYSE. IBD counts distribution days in two ways — in terms of time and proximity.

For the time element, count down days in higher volume seen in the past four to five weeks. As that period moves forward, older distribution sessions become less relevant and fall off the count. For proximity, when the indexes rise and move to new highs, count those days that occurred when the market was significantly lower and drop them off the count.

Gold for August delivery fell $3.80 to close at $655.40 an ounce on the New York Mercantile Exchange. HUI 336.25 -0.98. My gold stocks portfolio is down -$1,133.59 but still with basic gain of $3,610.09.