It still has some ways to go before it will ever rebound. I watch Kudlow too. They are short traders and try to drum support for little moves in the market. They think a couple of weeks that the dollar stops free falling then it has recovered. Oil may go down and settle at 115 or 120 but that is no bargain.
The real inflation has not even started. Did you hear DOW chemicals announce a 20% increase in the prices they charge suppliers. Chemicals DOW makes are in alot of products. Inflation has just begun.