The Vanguard Total World Stock ETF is a great chart to watch for the mega-cap technology giants. Apple, Amazon, Google, Microsoft, and Facebook all are in VT. These stocks make up most of the S&P 500 so without a rally in VT, the S&P 500 is not going anywhere.
$74.28 is the bullish level (green line). Anything above this level we are bullish on VT. The bearish level is $73.50 (red line). Anything below this level and we are bearish on VT.