The last few days have everyone wondering whether the rally can continue. Is the market's move supported by the fundamentals, and can the economy recover fast enough to drive further earnings growth? Looking strictly at reported earnings so far this quarter, S&P 500 companies continue to report significantly better than expected results. In the previous quarter the average difference between EPS estimates and reported EPS was $0.08, this quarter it is $0.09; furthermore, the ratio of companies that beat earnings to those that missed is 6.25 (150 beats vs 24 misses). This earnings season has been met with skepticism and scrutiny, but the numbers so far have been better than any period during the '02 - '07 bull market.