Will January dictate the pace our market for the year?

I've read that January is usually an indication of how the market will perform for the year. While it may look like that for the coming months, I hope that isn't the case for the entire year.

Psei
Our Philippine Stock Exchange Index, which everyone still calls the Phisix, went pretty low this month of January considering the highs it had hit last year. That leaves us now watching it consolidate between 2900 and 3900, but hanging closer to 2900 for the month. At that position, there's lot of us sitting in the sidelines, who entered while the market was at the 3400/3500 position wondering whether we should sell at that when it returns to that point.

With tons of good news on the local side, I'm more keen on waiting things out, save for some tiny trades here and there to pass the time.