Directional Bias For The Day: S&P Futures are down Below a downtrend line since 9:30 PM on July 15 on 30-minute chart; daily charts is indicating hesitation or pause Odds are for a down to sideways day – watch for break above 2797.75 and below 2790.50 for clarity Key economic data due: Capacity Utilization (est. 78.4% ) at 9:15 AM Industrial…