Index was turbo-shortsqueezed and returned to its highs.
At the same time all popular comoanies reported bad or very bad ( NFLX , AMZN , FB , TWTR etc).
Yes the index is outweighted by AAPL , where businness still going for strong but its more an exception.
Many blue chips have reported badly — Cocal Cola, IBM , McDonalds etc.
In average we see growth in reports pumped mostly by buybacks but for a long term these buybacks at these prices will be value destructive.