It seems like this range bound market has been in an endless period of spinning its wheels and going nowhere. There is an indicator, the ADX, which measures whether the market is in a trend. When the indicator is above 25, the market is trending (up or down), when the indicator is below 25 there is no trend. Over the past 20 years, the market has had trendless periods of four months or more 14 times. Sometimes the trendless period results in a downturn and sometimes in an upturn. In the chart below of the S&P 500 ETF (SPY) I have circled those trendless periods for the past seven years.
The current sideways period started on 1/8/15. After seven months, it is now the longest period in the past 20 years to have absolutely no trend. That might mean that when a trend finally starts, it will be a major one.
Here is another chart of the current trendless period in the SPY. If the ETF breaks out above 214 or breaks below 204, a trend may begin. Currently, the SPY is around 207.