From Goldman's David Kostin: "Positive revenue surprises averaged 2% and helped drive the strong earnings season to-date with 28% of S&P 500 stocks now having reported 1Q results. Earnings surprises have averaged 11% and analysts have lifted their EPS estimates for all four quarters. Energy company revisions are the key reason. Bottom-up full-year 2011 EPS estimate now stands at almost $99, above our $96 topdown forecast. Earnings season continues next week with 178 firms representing 34% of S&P 500 market cap set to report 1Q results."
Full weekly chartology:Chartology 4.22