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US indices poise to correction

CME_MINI:ES1!   S&P 500 E-mini Futures
As Google's main rival, Facebook beat estimate last week, Google Just announced its earning and fell short of revenues. Share down 6% during after hours hurting Nasdaq & s&p 500 which made all time high, recently. With negative divergence on different time frames, markets seem to head for some correction. Apple earnings due tomorrow are the key for stock markets. If Apple declines on tomorrow earning will almost confirm the correction scenario. In case Apple rally tomorrow will provide good opportunity to short indices at better rates. In case of correction levels to watch are 2920(10sma) & 2905 (20sma) for s&p 500 .

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