April 2019 Market Perspective

The annual peak-to-trough drawdown for the S&P 500® Index has averaged more than 13% over the last 30 years. Historically, downside volatility has typically not materialized until later in a given year. In fact, in 22 of the last 30 years, the troughs of the market’s peak-to-trough declines have fallen after April 30. For the rest of 2019, will it be smooth sailing ahead or should investors buckle up in anticipation of turbulence?