New LS1 Owners - Newbie Tech - Wheel Bearing or Brake Problem. HELP!

Hey guys new to the boards.

Ok here is my problem. 1998 Trans Am, 100k Miles. I recently changed the front brake rotors, calipers, Pads. About 2 months after I started hearing a knocking sound out of the front driver side wheel. It increases with speed but noticeable around 15 mph - 20 mph. Here's the thing, it goes away by just barely pushing the brakes. It also SEEMS (Haven't Confirmed) to stop by turning the wheel a little. It doesn't seem to affect the braking in anyway. On my way to work today though, it started to sound really bad. Halfway to work and I look at the dash and notice the red brake light stuck on. I reached down and played with the E brake and it didn't go off. I pulled the e brake and it seemed fine.

So what do you guys think im looking at here? Is it a bad wheel bearing or a brake problem. I have done some calling and my mechanic thinks possible wheel hub bearing cause it has some sort of sensor on it that could have thrown that light. Any help would be nice since im stuck at work.

I believe there are only two things that will throw the brake light. Either the parking brake or the fluid is low. Sounds like you've checked the parking brake so I'd go check the fluid level.

Ok update time. I pulled the wheel and caliper off only to find brake fluid covering everything. Seems that the caliper had sprung a leak. I pulled off the hose and noticed soemthing funny. Since the bolt is a galley plug(think the right term for it) i looked at the alignment of the hole of the hose meeting against the bolt. Seems they weren't matched up even when tightened all the way. I noticed the thing had 2 washers on bottom and what seems two on top. I removed 2 and the holes met up fine. Well one of them has stuck on the brake hose so I just left it there. Put the car back together, filled the brake fluid, cranked it up , pumped the brakes for a minute. Looked up the car and fluid was gushing out of the caliper. I just called it a night after that.