There is a rare occurrence in the internals as of yesterday. I created a custom indicator to let me know when the market was broadly expanded or contracted. Using John Carter's bollinger band squeeze as a signal, the limit is usually around 30% before a move gets underway from contracted conditions. Today, 40% of the stocks in the S&P500 are squeezed. I've marked on the chart other times when this has happened. A move is right around the corner for us. Being this far from the 100MA, and given typical end of January tendencies, I suspect the move will be down.
The bottom line, is that now is the time to be on watch for a move, not consolidation. The move should be within the next week or two usually.