Those who feared of missiong out rushed and chased the stock market in January got caught, fund managers do not care at all. They charge fees based on assets not on performance.
There is absolutely no chance for those who got caught to escape, they are guard soldiers on the mountain Top. Period. Market is brutal.
ES February will not close above 2674, will not reach above this line of sand.
As consolidation continues, those bought at current levels will also be trapped suddenly. This congestion level will then become the resistance.