Markets Still Weak, Await Apple Earnings After the Close

Markets attempted to continue the rebound off yesterday's lows overnight but have since sold off a bit. Not much to look at today. I expect weakness and I'll be waiting to see the Apple earnings this afternoon. A good number from Apple will likely help the markets to regain some bullish sentiment at least in the short term. So for now, I'll expect further weakness today and consider the strong possibility of some market strength heading into tomorrow. Consumer Confidence, New Home Sales, FHFA Housing Price Index due out at 10:00am EST could influence market direction.

On a side note, FOMC meeting is today so we'll get the FOMC announcement tomorrow at 12:30pm EST and Ben Bernanke's press conference at 2:15 EST. Not expecting any significant action until then


Levels to watch today on the ES:
Resistance above at: 1369-1371, 1374-1375
Support below at: 1358-1359, 1353-1354