On page two we have that s m p 500. Was it a meaningful market low, and could there just be a new bull trend that begins from it? Or is this just a typical, kind of bear market rally, typical bounces that come from an over sold condition that ultimately will be faded? We move on to the dollar euro cross on page three. What's your take?" I think we're much more likely to see a situation where we realize that inflation was not entirely transitory," he says.