Since the stock market bottomed in March of this year, it has been firing on all cylinders -- except for those in the auto industry who manufacture the most cylinders of course. This year has not been kind to them.

For months, many have been surprised at the rapid rise, given the level of unemployment. During this same period, Wall Streeters have been dancing up and down, looking forward to more bonuses.

As the number of unemployed has climbed and the period of same has lengthened, many have wondered how business could be improving during a time when the consumer (those still left) has transformed from spender to saver.

The stock market is putting on quite a show, had the best month (in July) in years. Earnings weren't all that great either. Most companies reported about what was expected (lower than last year) with a few exceptions like IBM (NYSE: IBM), GE (NYSE: GE) and especially Coca-Cola (NYSE: KO). Earnings don't explain the enthusiasm investors are showing for all stocks. That comes from a renewed sense of hope, with some data behind the emotion.

Almost every company that made earnings announcement so far said the same thing: the worst seems to be over. They could see where sales were holding, a few were even reporting increases, though not many. But the clear majority said they could see the end in sight for the continuing downward spiral of lower revenues, more lay-offs, continuing cuts in spending.

With the stock market slowly moving off of lows set early last week, look for Google's (NASDAQ: GOOG) earnings to be just what the doctor ordered to rocket the market forward. As Brian White posted, "Google's shares have been shaken from a high of over $700 this past Christmas to under $543 today, as the company has joined in with the overall market teeter-totter amid continued housing worries and recession talk and FUD that spreads like wildfire every week."

I think that the company will report blow out numbers, as it has done in the past. The catch this time is that the market hasn't set Google up for a fall. I don't believe expectations are all that high due to the market rout. If Google surprises to the upside, this will be what the bulls among us have been waiting for, and I would expect a nice 7-10% market move to the upside in the next two to three weeks.

A strong Google report would help justify what I have been saying that technology will be leading the market higher. Microsoft (NASDAQ: MSFT) had a great report last week, let's hope Google has a similar report tonight.

Aaron Katsman is the lead Portfolio Manager and Managing Director of America Israel Investment Associates, LLC. and Senior Editor of IsraelNewsletter.com. DISCLOSURE: Writer's has no positions in any stock mentioned as of 1/31/08.