The S&P futures surged higher yesterday, posting a remarkable defense of our previously highlighted key long-term uptrend line and the psychological 1050 level. Buying in the S&P futures returned with avengeance after U.S. manufacturing PMI data came in at 56.3, topping analyst expectations of 53.2. Considering investors have only been receiving negative U.S. data recently, the encouraging PMI reading gave bulls ammo to take advantage of oversold conditions. Wednesday’s impressive rally...