The Market, I believe has a bearish bias starting this new year. I will discuss as to why I believe this using the two charts above, which I explain below.
The second chart is of the Nasdaq ($QQQ), that shows the last few months of price action has left quite a few gaps. It is of high probability that at least one of these gaps will fill in the short term, and the remaining 75% of the gaps likely to fill in the long term. Two weeks ago the last gap filled(highlighted in the chart), which led to a nice Christmas rally. However, this rally caused a new gap to be formed which looks to be filled any day now.
If the Markets do turn out to be heavily bearish, look for the gaps below as targets where the Market might bounce (like two weeks ago, where the Market bounced after the last gap filled).