Gann Vault
The Morning Telegraph (1922) – W.D. Gann’s Market Forecast Accuracy
The Morning Telegraph article from December 17, 1922 documents one of the most striking public validations of W.D. Gann’s forecasting ability. Authored by financial editor Arthur Angy, the piece reviews Gann’s 1922 Annual Forecast, released one year earlier, and confirms that his predicted turning points aligned uncannily with the actual highs and lows of that year’s major stock movements.
Gann forecasted three major tops for the 1922 bull cycle: one in April, one in August, and the final culmination during October 8–15. The article reports that the average of twenty industrial stocks reached their highest price on October 14, exactly within his predicted window, before dropping ten points within thirty days . He also warned of a “panicky break” between November 10–14, which materialized precisely—stocks collapsed sharply, with many falling more than ten points in four days, and volume spiking to 1.5 million shares on November 14, the exact low he projected .
The article emphasizes that Gann is not a tipster but a market scientist applying mathematics, supply–demand studies, and cyclical time analysis rather than rumor or “inside information.” His method considers space, volume, and time, with time being the most critical. When asked about the cause behind the time factor, Gann replies that it took twenty years to discover and is too valuable — and the public too unprepared — for full disclosure .
Gann’s theory asserts that markets follow natural laws similar to physics: stocks rise above “natural value levels” when optimism peaks and fall below them when fear dominates, returning to equilibrium just as water seeks its natural level. His mastery of these timing cycles supposedly allows him to forecast extremes long before they occur.
This article remains one of the strongest historical testimonies to Gann’s extraordinary market-timing ability, reinforcing his reputation as a pioneering market mathematician whose time-cycle research still influences modern trading theory.