We’ve discussed the many corrections that have happened over the past eight years of this bull market. As you can see by the table, the number of days of pullbacks of 5% or less and corrections of 10% add up to nearly two of the past eight years. We have illustrated the start and magnitude of these pullbacks (green bar) and corrections (red bar) on a new graph. As you can see, they are just a normal part of any market cycle. We don’t know when the next correction or pullback will occur, or how long they will last, but we can say for certain that they will happen.