What Is the Lowry Thrust?
It measures demand using two complementary indicators: % Up Points and % Up Volume.
The Lowry Thrust is designed to identify a rapid change from weak market participation to broad and powerful buying demand. The signal requires both price movement and trading volume to confirm the surge.
A Twist on the Zweig Breadth Thrust
The Lowry Thrust is conceptually related to the Zweig Breadth Thrust, which uses advancing and declining issues to identify a rapid expansion in market breadth.
The Lowry Thrust takes a different approach. Instead of using the number of advancing and declining stocks, it measures the proportion of total up-and-down point movement and volume that is associated with advancing activity.
The two measures are therefore % Up Points and % Up Volume.
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How Is the Lowry Thrust Calculated?
% Up Points
% Up Points is calculated by dividing Up Points by the total of Up Points plus Down Points.
% Up Volume
% Up Volume is calculated by dividing Up Volume by the total of Up Volume plus Down Volume.
The Lowry Thrust requires both measures to confirm the change in demand. A surge in only one measure does not constitute a Lowry Thrust signal.
What Generates a Lowry Thrust Signal?
The Lowry Thrust looks for a two-stage change in market behavior: first a potentially washed-out condition, followed by a rapid and simultaneous surge in demand.
1. The Washed-Out Setup
Both % Up Points and % Up Volume must reach 40% or less within the preceding 10 trading days.
2. The Demand Surge
Following the setup, both % Up Points and % Up Volume must surge to 61.5% or greater on the same trading day.
Both % Up Points and % Up Volume must reach 40% or less within the preceding 10 trading days, and both must subsequently reach 61.5% or greater on the same day.
The 61.5% threshold is a research parameter and may be adjusted as additional historical testing is performed.
Why the Lowry Thrust Matters
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Lowry Thrust vs. the Zweig Breadth Thrust
Although the two indicators share the concept of identifying a rapid expansion in market breadth, their underlying measurements are different.
| Indicator | Primary Measurement | Purpose |
|---|---|---|
| Zweig Breadth Thrust | Advancing and declining issues | Identifies a rapid expansion in market breadth. |
| Lowry Thrust | % Up Points and % Up Volume | Identifies a surge in demand following a potentially washed-out condition. |
Using the Lowry Thrust in Market Analysis
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Identifying Powerful Market Rallies
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Confirming Market Strength
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Recognizing Changes in Market Momentum
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The History of the Lowry Thrust
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Developed by Michael Kahn, CMT
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Lowry Thrust Research and Market Commentary
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Frequently Asked Questions
What is the Lowry Thrust?
The Lowry Thrust is a market breadth indicator developed by Michael Kahn, CMT, that identifies a surge in market demand following a potentially washed-out condition.
Who developed the Lowry Thrust?
The Lowry Thrust was developed by Michael Kahn, CMT.
What is % Up Points?
% Up Points is Up Points divided by the sum of Up Points and Down Points.
What is % Up Volume?
% Up Volume is Up Volume divided by the sum of Up Volume and Down Volume.
What is the Lowry Thrust setup?
Both % Up Points and % Up Volume must reach 40% or less within the preceding 10 trading days.
What triggers a Lowry Thrust signal?
Both % Up Points and % Up Volume must subsequently reach 61.5% or greater on the same trading day.
Is the Lowry Thrust related to the Zweig Breadth Thrust?
The Lowry Thrust is conceptually related to the Zweig Breadth Thrust, but uses % Up Points and % Up Volume rather than the advancing-versus-declining-issues measure used by the Zweig Breadth Thrust.