We are already looking at the next cycle starting today. January was a calm month given the volatility on Dec the SPX finished the month at +7.87%.
The first thing that came to mind was the return on Jan 2018 and the drop of Feb taking the ETN on the VIX.
Nonfarm Private Payrolls came 296K vs. 160K consensus. This is a very strong number. However December was revised to 206K from 301K. This is a key number but remember it is just adjusting the past there is little correlation with predicting the future.
Here you can see R Option Correlation to the SPX
