Directional Bias For The Day: S&P Futures are lower at 8:30 AM; declined from 4513.00 at 1:45 AM to around 4480.00; The odds are for a down day – watch for a break above 4501.50 Key economic data report due during the day: New Home Index ( 809K est.; prev. 801K) at 10:00 AM Directional…