Directional Bias For The Day: S&P Futures are sharply lower; The odds are for a down day with elevated volatility; Vulnerable to news and events Key economic data due: PPI ( -0.3% vs. 0.1% est.; prev. 0.5%) at 8:30 AM Core PPI ( -0.6% vs. -0.1% est.; prev. 0.5%) at 8:30 AM Unemployment Claims (…