Oil contributing to another slippery slope today for the equities markets

Remember it isn't only about the banks, oil has also been contributing somewhat to equities advancing. USO still having trouble with that $30 level - not really surprising to the readers here. Our theory being that oil did put in a significant low but not to expect huge movements upward due to a relatively bleak Elliott Wave outlook and of course plenty of chart resistance.[Hmm, that max pain calculator we've been looking at recently shows $26 for March and $30 for April in USO.] Also below, I'm showing some trendlines on the SPX chart - these can be useful, although not the "only" ones to use but can be among those being watched and used by other traders to some extent. I'm guessing they'll play into the remarks I posted earlier this morning about what's most likely and possible patterns based on "too many eyes" looking for a pullback and resumption upward. I guess what I'm trying to say is that one way to fake out the crowd would be in both directions - please the shorts as the ChartsEdge forecast shows for the rest of this week, then give wannabe longs the resumption upward, then let's see who gets frustrated after that. What we will do is continue to measure it out day by day measuring the strength of the rally we've already seen compared to the pullback.