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(Elena Elisseeva/iStockphoto)

The TSX is well into overbought territory

This week’s technical outlook should allow domestic investors to get outside and enjoy the summer, content in the knowledge that the equity market is extended and more likely to head lower than higher in the next few trading sessions.

The S&P/TSX Composite climbed 1.2 per cent Thursday to Thursday and, according to Relative Strength Index, is now well into overbought territory.