We are not experiencing a traditional "January Effect", this market is showing a strong consolidation period; with clear trends migrating towards the downside. Will this trend reverse to the upside? The answer to this question can be clarified with an analysis of the VIX. Currently, VIX is trending to the upside, this would be an indication of the return of a "bear period" leading to a large correction. Deeper understanding of the numbers: Support: 19,963.80 Resist: 19,732.40 volume range Upper: 573,470,000.00 Lower: 158,260,000.00