Markets rallied nicely today as a result of impending peace in the Iran situation and the fall in oil prices. However, looking into that rally, the internals were not as exuberant. As an example, breadth in the MYSE was only 50 shares positive. While NYSE volume ticked up slightly, most of that was selling volume. Net volume in the NYSE suggested there was more sellers than buyers. Could it be the Smart Money is moving out on the rally? Instead of being overbought today, the weak internals brought the overbought indicator lower. The internals in the NASDAQ were stronger than the other Indices, but that was a result of more buying in the equal weighted stocks as opposed to the higher weighted stocks. We have to respect the trend, but caution is warranted.