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Great-West an attractive exception to overbought TSX

The Canadian equity market continues to conspire against this weekly column, remaining prohibitively expensive in technical terms while offering up a minimal number of oversold trading opportunities.

The S&P/TSX Composite climbed a decent 0.82 per cent Thursday to Thursday, and its Relative Strength Index reading of 66.2 hovers close to the overbought sell signal of 70. While not officially in danger territory, the benchmark is sufficiently extended to keep sane index investors on the sidelines.