“I don’t believe the bull market is over,” Azoury added. “The fundamentals are too good: low unemployment, solid interest and high confidence of the public. While leading a bumpy road, the stock market can still sustain growth for 2019.”

However, with an extended bull market comes the risk of higher interest rates that could tamp down bond income. Even with a more dovish Federal Reserve that instituted four rate hikes in 2018, there’s no certainty that less rate hikes or even a rate cut is in store for 2019.

“Perhaps a 100 percent allocation in growth stocks is just not the best strategy any longer,” said Angelo DeCandia, professor of business at Touro College. “But great care should be taken when moving out of stock and into bonds, primarily for the interest-rate risk which bonds may suffer in 2019.”

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