What instrument are you looking at? Volume movements are very different on all instruments - you need to look at multiple instruments, with a bias toward the most liquid (ES). For example, the 6e gets arbitraged every day, so the order data is useless.
Well Bernanke spoke today and no mention of any QE, market is still moving up another 100 on top of yesterdays 300, gold getting crushed on no mention of QE, so there must be another reason for the move up
The only valid answers to a move are before the fact, and not after the fact. So even if someone were to give an answer, then it cannot be the explanatory reason. http://www.elitetrader.com/vb/showthread.php?s=&threadid=243884
I still dont understand why gold, oil, and other commodities are selling off on the china rate cut and no qe talk from Bernanke yet equities continue to surge. I guess thats besides the point...
well that doesnt really justify why they were up so much to begin with but I guess thats the irrational stock market for you