S&P 500 opens just below the Gundlach-line

S&P 500 up 9 points to 2149

Fed day has been one of the best days for the stock market over the past decade (if not THE best day).

The market has started strong, with the S&P 500 up 9 points to 2149.

At the start of the month, Doubleline CEO Jeff Gundlach said the Fed may hike rates if the S&P 500 was over 2150 and WIRP was over 40%. So we're close on the first target but WIRP, which is the Bloomberg function that measures Fed hike probabilities in the Fed funds futures market, is at just 22%.

Technically, last week's high of 2153 is the level to watch.