Here's one bullish factor the stock market can continue to rely on to limit future downside, DataTrek says

• The stock market is relying on its earnings power to limit further downside, according to a note from DataTrek.
• The research firm highlighted that as the S&P 500 trades sideways for nearly two years, earnings are almost unchanged despite soaring interest rates.
• The S&P 500 continuing to deliver $200+ in earnings per share "should limit US equity market volatility," DataTrek said. 

The stock market can rely on its earnings power to help limit future downside volatility, according to a Monday note from DataTrek Research.

With the S&P 500 hovering right around the all-important 4,000 level, the index is trading at the same level it did nearly two years ago.