Consolidation

When the market or a stock is consolidating or going sideways then it is neither trending up or down and that the highs and lows are repeating themselves over a certain period of time:

In an uptrend, the highs get higher and the pullback lows are getting higher, too.

In a downtrend, the lows get lower and the rally highs are getting lower, as well.

Consolidating means that the stock or the market is trading within a narrow range just bouncing off a flat line of support and resistance without higher or lower highs and lows.

Swing-Trade-Stocks.com has an excellent description of market trends.

Some people make a great return on investment on stocks that are consolidating within a wide support and resistance range. These are generally called Channeling Stocks because they trade within a "channel."