Earnings are clearly propping up the markets at this point.
Just a quick glance at the chart will show you that $ES_F was heading downwards pretty aggressively until the first red line; the first big E.R. reports of the season. $NKE and $MU crushed their reports, and the markets responded upwards…but not on weak volume.
[check out the chart in better detail over on tradingview here.]
The second red-line shows another save of $SPY … aided by beats by $RHT and $PAYX.
Rinse and repeat for a while…then the final line is on April 6th, when the first big bank earnings came out.