VUSA is an ETF for Brits to get exposure the S&P500 index. It is priced in British Pounds so it has fared far better from the British investor's point of view than the S&P has in dollar terms. Indeed it is only 9% off its fairly recent all-time high. In terms of the chart it looks very much like a triangle at the moment with signs of weakness, however, in GBP the medium term trend is sideways rather than a full blown bear market.