Doesn’t mean stocks will go up. Yes, earnings so far this reporting season, have been very impressive:

earnings

But, the reality is, this doesn’t guarantee the S&P 500 Index will rise:

earnings-over-time

Key bit from Charlie Bilello: The market doesn’t have to go up just because earnings are going up. We saw this In 1994, 2000, 2002 & 2011 (note: price returns). But if earnings grow 26% this year and stocks finish lower, would be highest earnings growth for a down year.
Something to keep in mind. It’s going to be a volatile year…