Directional Bias for the Day: S&P Futures are lower. Breaking below a range between 5724.00 and 5705.00. Odds are for a down day with elevated volatility and a good chance of moving sideways from the pre-open level around 5710.00. The notable economic data due during the day: Building Permits (1.46M vs. 1.45M est.; prev. 1.47M)…