A couple of different options: Perhaps the simplest (although not very speed efficient) is to apply a tag to the marker when you first create it, then use findobj to locate it in the callback.
Do this when you're first creating the figure
Then in your callback hMarker_local = findobj(gcf,'Tag','MyMarker'); set(hMarker_local,'Xdata',newX,'YData',newY);
Alternatively you can add extra parameters to your slider callback, one of which is the original hMarker.
A third choice is to nest your callback inside of the function where you're making your plot, in which case the callback has access to variables defined in the parent function, including hMarker.
Hope this helps. Dan