The stock market during the first quarter (March 9th, 2019) marked the 10th anniversary of the current bull market run.  U.S. stocks during the first three months of 2019 once again demonstrated just how resilient this bull market is.

After a turbulent end to 2018 seeing the S&P 500 decline over 14% in the 4th Quarter, markets have recovered meaningfully in the early part of 2019.  And while we continue to be optimistic about the near-term economy, we are growing cautious about risks to portfolios given the almost 10-year bull market for US Equities.