Directional Bias For The Day: S&P Futures are sharply higher; bouncing since 11:15 PM from oversold conditions The odds are for an up day with elevated volatility; Vulnerable to news and events Key economic data due: Import Prices ( -0.5% vs. -1.0% est.; prev. 0.1%) at 7:30 AM Prelim UoM Consumer Sentiment (est. 95.0; prev.…