A Rally With No Volume?

The table belows shows the average 1-year volume of DIA, SPY, XLF and IWM, as well as the average for the last 30 days and the volume Tuesday May 5.



There are very significant declines in trading volume, particulary with the most popular ETFs, SPY and DIA. A rally without volume is one to be very worried about. Is the current rally being fabricated, or have investors simply lost their money and can't get back in the market, or have they lost faith in the stock market?

Please see the volume in the charts below (kindly click to enlarge):