With Alcoa kicking off earnings after the close today, and no real news out there right now, I expect today to be a little slow.  Crude is continuing the sell off from yesterday.  Part of me is curious as to whether or not the rumors that Lehman could no longer put in some trades in the Far East, because of credit concerns.  Regardless, a continued sell off could cause a rally in equities.
Pending home sales and wholesale inventories come out at 10, while consumer credit comes out at 3.

The SPY closed below the significant 126 level, and is now firmly below that after failing to rally above into the close yesterday.  One interesting thing to notice is the divergence between SPY and QQQQ.  Technology was much stronger in the afternoon than financials.  People could be placing their money into tech going into earnings, as some still doubt as to whether or not there will be a recession.  This strength in tech could perhaps provide a good opportunity to sell some stocks into strength