Directional Bias for the Day: S&P Futures are higher at 9:00 AM. Futures bounced up from a low of 5173.50 before the release of the PPI report at 8:30 AM to above 5210.00. The futures are within a trading range between 5173.5 and 5226.50 since 8:45 AM on Wednesday. The odds are for a sideways…