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Financials now more attractive after pullback

The S&P/TSX Composite settled lower at 13,362 by Thursday’s market close, after another failed assault on the psychologically-important 13,500 level. The good news is that the benchmark’s 0.7 per cent decline for the week all but erased the early-month technical froth, and the current Relative Strength Index (RSI) reading of 53.7 is benign – about halfway between the buy signal of 30 and the sell signal of 70.