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This S&P action may be sending big market message

Traders work on the floor of the New York Stock Exchange.
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The S&P 500 has barely budged in each of the last eight weeks—giving it the longest stretch of boring weekly moves in 20 years.

The eight lackluster weekly performances, ended Friday, have been less than 1 percent in either direction, for a total move lower in the S&P of just 0.36 percent.

This lull clearly must be saying something about the market's next move. It could be a sign the market is consolidating while investors watch Greece, wait for the Fed, or are just simply planning their summer vacations. But it could also be a sign the market is about to wipe out.