Gold Surges To 4-Month Highs, page-704

I'm sure NCM exercises inordinate weight on XGD, as do the 4 Banks etc. on ASX, as do the MC weighted AAPL, GOOG (other FANGS's) etc on the NASDAQ Comp.
Still, I think it's a better system than the DOW, where each stock goes up by, say , 8 -9 points (fixed, regardless of MC, published daily in WSJ), per dollar move, regardless of MC. Another reason I don't care for (despise) the Dow, in addition to its narrowness (30 stocks).
S&P 500 is the benchmark, period, end of discussion. Tho I DO recommend people follow it's much neglected twin sister, the DOW Transports (now in the Seventh Circle of Hell - $TRAN - see below). Surely a leading indicator if ever there was one. Like the Baltic Dry, for international shipping . Also, a pillar of the original DOW Theory (the very first TA, from Charles DOW).

Correct me if I'm wrong (I'm new to Oz Markets), but I'm guessing ASX (XJO) and XGD are market cap weighted - as they should be????
I love Pandas......really I do...I used to collect them (stuffed toys, of course, as an adult). So cute. Who doesn't love them? No-one!
100 day old baby Pandas...they look like toys...but they are real.