Warren Pies(@WarrenPies):S&P 500 To make new highs, the market needs semiconductors to get into gear. YTD, the S&P 500 is up ~60% on days when the semi industry is positive. But, the S&P 500 is down ~30% on days semis are down. No other industry has had this large of an effect on the index in 2026.

Warren Pies

@WarrenPies

Founder @3F_Research | PM $RAA | $FCTE | Formerly with Ned Davis Research | Recovering Attorney (step 4) - Not investment advice

Joined February 2014

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Warren Pies@WarrenPies

2026.09.12 19:04

S&P 500 To make new highs, the market needs semiconductors to get into gear. YTD, the S&P 500 is up ~60% on days when the semi industry is positive. But, the S&P 500 is down ~30% on days semis are down. No other industry has had this large of an effect on the index in 2026.