Updated Forecast

President Obama and Treasury Secretary Tim Geithner will propose a bailout package so breathtakingly massive (2-4 Trillion) that it will even give democrats pause. If congress fails to pass it, no matter what happens next, he's off the hook. Even China does not have the reserves to foot that bill, so unless the whole world is on board with bailing us out, the inflation caused by printing all that money will be massive.

The Dow is being supported by the President's Working Group on Financial Markets at 8,000. I expect the support to be broken with the next support at 6,000. This will be allowed in order to garner support for the bailout.