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Jeff Gundlach: Watch 2,130 Level of S&P 500

DoubleLine Capital's Jeff Gundlach was interviewed on CNBC yesterday and here's his thoughts:


And although he's a fixed income manager, Gundlach often opines on the stock market and this time was no different.  He said that, "I would turn particularly negative if the S&P closed twice below 2,130."

He notes that the Fed wants to raise rates in December once the election ends.  He also mentioned he's turned negative on most assets since July.

Gundlach said he doesn't think the election is all that important because he feels that both candidates would be 'caught up in the trend' of fiscal stimulus.

Embedded below is video of Gundlach's CNBC interview: