Directional Bias For The Day: S&P Futures are higher The odds are for a sideways to an up day with elevated volatility Key economic data report due during the day: Philly Fed Manufacturing Index ( 31.5 vs. 40.8 est.; prev. 50.2) at 8:30 AM Unemployment Claims ( 444K vs. 453K est.; prev. 473K) at 8:30…