ES 1145

1150 on the S&P is a psychologically important area, because its a round number and because it was the top of the move in January, when we had the 100 point pullback on Greek jitters.  The market is going to have a hard time with that level so I expect some consolidating soon.  There is the jobless claims and existing home sales and leading indicators all coming out on Thursday.  The latter two data points should be a sell catalyst for this overbought market.