Author: Jeff Clark, Jeff Clark Trader

It’s been quietly moving higher since April.

There are still plenty of reasons to be cautious on the stock market as we head through 2026 and beyond. But, for the next several days or weeks, the bulls will soon have the advantage of a VIX buy signal.

Conditions are oversold enough to justify a strong bounce from current levels.

The yen’s sudden surge and technical breakout may be the first crack in a trade built on cheap borrowing and leverage. If the yen keeps climbing, the unwind could hit U.S. assets the way it has before – quickly, and all at once.

Rising long-term interest rates are a headwind for the stock market.