Nasdaq just hit an all-time high today. As you know we've been calling for a tech stock rally driven by strong Q1 earnings. We're headed into Q2 and we're about to figure out what's in store for the upcoming earnings season.

But with Nasdaq hitting new highs you have to ask who's next.

Who's Next?

Remember the days, long long ago in a land far far away when the S&P 500 was hitting new highs. Wait a minute. That was just a few months ago.It feels like the stone age, right?

Well we're here to tell you that the S&P 500 can march to new highs just as easily as Nasdaq just did. The leaders lead and the followers follow.

Amazing Action

We've been pointing out that despite bad macro news the market has been showing it wants to go higher. It has not been going down on bad news lately.

Even today the market was up even with increased trade tensions.

As we've said, by ignoring bad news the market is telling you it wants to go higher.

Reporting Bad News

While major news agencies are reporting new highs today, previously they were reporting bearish headlines with every piece of trade or interest rate news.Bearish headlines get clicks. On the next down day you'll see more bearish headlines from everybody.

But Why Is Market Action So Good?

The news however is one thing, action is the market telling you what it wants to do.

The reason, we believe that the market "wants to go higher" despite the negative trade war news and interest rate "spikes" is amazing earnings.

The largest tech companies in the world are putting up accelerated earnings numbers. (April 18th: "FANG Index About To Hit New Highs"). That headline wasn't in the mass news media.

Accelerated earnings are broad based in tech land. That's been our focus. It helps us spot amazing tech stories but it also gives us a heads up why the market "action" is so very strong of late.

Stocks are driven by earnings. If earnings are good stocks want to go higher.

Conclusions

Bullish.