This is the Saturday before Palm Sunday. The church celebrates the resurrection of Lazarus, which is recorded in the Gospel and is counted as one of the great feast days of the Church. Jesus knew Lazarus was grievously ill, but He waited till he died before He answered Martha and Mary's call for Him. He knew that His own death on the Cross was near. He knew how terrified and bewildered His disciples would be, how they might doubt that He was indeed the Christ. Only after four days did He bring Lazarus back to life, so that His disciples would see that He had power over life and death and was indeed the Resurrection and the Life. It was this miracle that prepared Christs triumphant entry into Jerusalem and gave us the certain assurance of the physical resurrection of all the dead.
In today's celebration, we clearly see the two natures of Christ being revealed. His Divinity through the pre-knowledge of Lazarus' Death and coming Resurrection, and His Humanity through His asking to be shown where they buried Lazarus and His weeping.
It is celebrated with a great deal of joy and reverence.
References by Archdiocese of America, Monachos and the V. Rev. Archimandrite Alexander Kile.