Directional Bias For The Day: S&P Futures are higher; moving sideways since 8:00 PM on Tuesday Horizontal channel emerging on 30-minute timeframe – high 2587.25 and low 2575.00 Daily and weekly trend is down Odds are for a sideways to down day (from pre-open level) with elevated volatility – watch for break above 2587.25 and break below 2575.00 for clarity Key economic data due: FOMC December…