The significant investment decision of the moment is to not allow the "Secular" to overwhelm the "Cyclical" and turn you from a "Bull" to a "Bear" when investing in the current market. While the economic news coming from the popular financial press continues to be bleak, in April the United States stock market was up for the twelfth time in the past fourteen months. How can that be? For a number of years we have communicated our research studies on two types of Stock Market cycles that impact the risks for investors, the "Secular" (longer term, 30 to 40 years) and the "Cyclical" (shorter term, 3 to 5 years).