As was mentioned above, crowds in
Disneyland have a different flow than at WDW. Local MK holders rarely arrive at rope drop. Instead, they meander in around 10-11. Because of that, the first few hours in the morning are light and are a great time to take in several rides. Many rope drop to parking closing guests take a few hours off midday to rest and recuperate. Because is January and the weather is an unknown, you should probably plan on returning to your hotel for at least a short break. If nothing else, to change clothes or grab a jacket.
While you can view them from some hotels and the Mickey and Friends parking structure, in my opinion, it isn't great. My suggestion would be to get a dining package for the first Fantasmic show and watch them from your Fantasmic seats. Another option would be to watch from SWGE (no projections and different music). If you are a rope drop to closing group, take your break earlier in the day spend your evenings inside the parks.