Option trade ideas
A sideways market is defined when highs and lows do not go past previous highs and lows, giving rise to so-called channels as well as other chart patterns. For day charts, you can expect most majors that are drifting rather than trending to have between 2 and 6 wide channels.
In comparison, if you are looking at an hour chart the channel might be more like 0. 5 to 1. Often sideways markets in time periods that are less than one day can move in very tight ranges as the market consolidates its new level.