The pivotal moment in the 2026 market is now

"When the war ends, I’ll buy it"

There must have been many investors who thought so.

But before they realized it, the Nikkei average was 60,000 yen.
The Nasdaq was up for 13 days in a row, and the SOX semiconductor index had 18 consecutive gains.

Even though the war is not over, the market is already at new highs.

What this shows is,
the market always prices in the future ahead of time,
that's how it moves.

Indeed, if you think the same as the general public, you cannot make substantial profits.

If your holdings rise, you are happy,
if they fall, you become anxious.

If you keep repeating the same mindset as others,
no matter how much time you spend, the result will be the same.

Admittedly, this war this time was an abrupt event.
The March market also swung greatly on a single remark from President Trump.

But even within that, the situation keeps changing moment by moment,
and the market moves forward while pricing it in.

If you are left behind in this flow, you will realize too late that it has already peaked and you can no longer buy.
This is the typical way that losing investors miss chances.

So, what about the current market?

I believe the real test starts here.
This rise is clearly biased toward semiconductor-related stocks.

On the other hand, the TOPIX has hardly kept up.
In other words, only a subset of stocks has been bought so far.

If the semiconductor sector cools off, the funds will look for the next destination.

There is a strong possibility that funds moving toward the index will flow into individual stocks.

That's why,
the period after Golden Week will be a major opportunity for individual investors.
That is how I see it.

This is the turning point of 2026 market.