As far as I can tell the rally in the sp, at least over the past eight weeks, has correlated on a percentage basis perfectly with the decline in the dollar. I dont necessarily think you can transfer the argument that a rally in the dollar will benefit US equities over the intermediate term since obviously the big money has been playing the opposite scenario. Maybe you could make a better case for this short term spike in interest rate futures(yields dropping) as a sign that the worst is over temporarily for the US dollar and people are jumping back into treasuries for the meantime...
"I've positioned myself 75% short the Nasdaq. I believe today/Monday marks the top and I'm willing to bet the farm, which is exactly what I've done. January 9th, 2004" how is that short working out