Here is a longer term chart of the SP 500 showing the decline with the unfolding financial crisis, and the rally from the first major market bottom in equities. The rally has been a nearly perfect 50 percent retracement.
Here is the same view of the SP 500 but deflated by the Euro. This puts the rally into a slightly different perspective, which is not nearly so dramatic, about a 38.2% retracement which is a decent bounce.
Again the same chart of the SP 500, this time deflated by gold. The rally is stripped of the monetary inflation supplied by the Fed, and appears to more accurately reflect the 'jobless recovery.'
"He will wipe every tear from their eyes. There will be no more death, or mourning, or crying out in pain, for the old order of things will pass away. 'I am the Alpha and the Omega, the Beginning and the End. I will give you to drink freely from the springs of the water of life. All those who are faithful and persevere will inherit my creation. And I will be their Father, and they will be my children."
Revelation 21:3-7