W.D.

Gann
Financial Astrologer
Susan Gidel
TR102a History
Final Paper
April 21, 2013
Copyright 2013 SusanGSays LLC

ABSTRACT
W.D. Gann is legendary for his phenomenal trading success in the first half of the 20th
centurymaking an estimated $50 millionas well as his secretiveness surrounding
his methodology. Ganns original writings leave clues that astrology was an important
part of his trading toolbox.
Introduction

W.D. Gann is legendary in financial trading not only for the vast fortune he
made by trading stocks and commodities in the first half of the 20th century
(estimated at $50 million)1, but also for the mysterious methodology behind his
stunning success. Rarely elaborating beyond describing his methodology as based
on natural laws, Gann left it to others to discover how he incorporated astrology,
numerology and other disciplines into his market forecasting. He introduced
technical analysis tools known and used today as Gann Angles and Gann Squares.
This paper enumerates many clues that Gann left in his writings that point
toward his vast, deep understanding and use of astrology in forecasting market
prices and timing. William Delbert Gann is arguably the firstand remains one of
the foremostfinancial astrologers of modern times.

Fig. 1. W.D. Gann, W.D. Gann, < http://www.wdgann.com/product/Books/Books-
Recommended/W-D-Ganns-Recommended-Reading-List-21-Books >.

1 D.K. Burton, W.D. Gann, School of Gann, April 20, 2013,

http://schoolofgann.com/WDGann.aspx.

2
Biography

W.D. Gann was born on June 6, 1878 at 10:34 a.m. in Lufkin, Texas.2 His
Gemini sun is in the 10th house, with the Ascendant, Moon and Uranusconjunct in
the 12thin Leo. He has a stellium of planets in Taurus in the 9th house, including
Venus, Neptune, Mercuryas well as the yet-to-be-discovered Pluto. (Interestingly,
Pluto is the most elevated planet in Ganns chart as it is exactly conjunct the MC in
the 9th house and also conjunct the fixed star Algol, a star of immense power.)

Fig. 2. W.D. Gann natal chart, Sirius. Vers. 1.3. May 21, 2012. Cosmic Patterns
Software, Inc., Gainesville, FL.



2 Burton.

3
 Gann was the eldest of 11 children born to cotton farmer3 Sam and Susan
Gann. At the age of 13, he traveled the trains selling cigars and newspapers. On the
trains, he heard passengers discuss the future of cotton prices and other
investments, which piqued his interest in discovering how to predict prices.4 He
moved to New York for a career on Wall Street, where he was active for most of the
first half of the 20th century. In addition to being a spectacularly successful trader,
Gann also was a prolific writer, selling subscriptions to daily, weekly and annual
market forecasts.5 He authored nine books from 1923-1950 and two trading
courses, one each for stocks and commodities.6 Gann died at the age of 77 on June
18, 1955 at 3:20 p.m.7

Trading and Publicity

Gann made his first trade on August 15, 1902.8 Seven years later, he had
developed enough of a reputation on Wall Street that The Ticker and Investment
Digest wrote an article about him in its December 1909 issue.9
In the article, one of his mentors, William E. Gilley, reported the magnitude of
Ganns financial success: He has taken half a million dollars out of the market in the
past few years. I once saw him take $130, and in less than one month run it up to
over $12,000.
Also in the article, Gann is quoted on his approach to trading, having
witnessed first-hand how other speculators (his clients at a New York brokerage
firm) approached the markets:

3 William Delbert Gann, Wikipedia, April 8, 2013,

http://en.wikipedia.org/wiki/William_Delbert_Gann.
4 D.K. Burton, WD Gann, School of Gann, April 4, 2013,

http://www.schoolofgann.com/WDGann.aspx..
5 W.D. Gann, Truth of the Stock Tape, 1923. (Pomeroy, Wash.: Lambert-Gann

Publishing Co., Inc., 1976), Appendix 46.

6 W.D. Gann, W.D. Gann, April 11, 2013, http://www.wdgann.com/wdgann
7 W.D. Gann
8 W.D. Gann
9 W.D. Gann, W.D. Gann Commodities Course, reprint of article William D. Gann: His

Remarkable Predictions and Trading Record in December 1909 issue of The Ticker
and Investment Digest, N.p. Lambert-Gann Publishing Co., n.d., 163-166.

4
 I soon began to note the periodical recurrence of the rise and fall in
stocks and commodities. This led me to conclude that natural law was
the basis of market movements. I then decided to devote ten years of
my life to the study of natural law as applicable to the speculative
markets and to devote my best energies toward making speculation a
profitable profession. After exhaustive researches and investigations
of the known sciences, I discovered that the Law of Vibration enabled
me to accurately determine the exact points to which stocks or
commodities should rise and fall within a given time. The working out
of this law determines the cause and predicts the effect long before
the Street is aware of either.
In going over the history of markets and the great mass of related
statistics, it soon becomes apparent that certain laws govern the
changes and variations in the value of stocks and there exists a
periodic or cyclic law, which is at the back of all these movements.

Ganns great contribution to traders and technical analysis of the stock and
commodity markets was the concept of price equals time, i.e., that markets move a
certain amount of price in an equal amount of time, for example, 30 cents in 30 days.
To Gann, when the market was going to make a change in trend was just as valuable
as predicting what price it would reach, perhaps more so. Only cycle analysis and
the Elliott Wave Theory, developed in the 1930s, have an element of time. Most
technical analysis tools are focused strictly on projecting price movement.
In 1921, the Journal of Commerce published an article on Gann that said his
calculations are based on the Science of Letters, Numbers and Astrology.10 In
1922, a reporter from New Yorks The Morning Telegraph inquired about how Gann
predicted market timing, and he politely declined to elaborate:
I asked Mr. Gann: What is the cause behind the time factor?

10 W.D. Gann, Truth of the Stock Tape, 1923. Reprint of A Brighter Outlook for the

Stock Market and General Business Conditions, January 15, 1921 in the Journal of
Commerce, (Pomeroy, Wash.: Lambert-Gann Publishing Co., Inc., 1976), Appendix
14.

5
 He smiled and said: It has taken me twenty years of exhaustive study
to learn the cause that produces effects according to time. That is my
secret and too valuable to be spread broadcast. Besides, the public is
not yet ready for it. 11

Even near the end of his life, Gann remained mysterious about revealing his
secrets beyond broad indications: We have astronomical and mathematical proof of
the why and wherefores and the cause of the workings of geometrical angles. When
you have made progress, proved yourself worthy, I will give you the Master Number
and also the Master Word.12
As for his use of letters and numbers, Gann explained in a newspaper article
in 1923 how he came to predict the election of Warren Harding as U.S. President in
1920:
Senator Warren G. Harding was born November 2, 1865. His name
contains some of the most powerful fame and wealth-producing
letters. The name Warren, beginning with W and ending with N, is
very fortunate and gives him power to overcome obstacles and
opponents. His name and numbers show that he will be conservative
and act only after due consideration. His foreign policy will help him
to win.
His fortunate numbers are 2, 4, 6, 8 and 11. Note that the Declaration
of Independence on July 4 and inauguration day on March 4 both fall
on one of his fortunate numbers. The election takes place on the
second day of the eleventh month, both fortunate numbers for him.13

11 W.D. Gann, Truth of the Stock Tape, 1923. Reprint of Gann Foretold Run of

Stocks, December 17, 1922 in The Morning Telegraph, (Pomeroy, Wash.: Lambert-
Gann Publishing Co., Inc. 1976), Appendix 15.
12 W.D. Gann, W.D. Gann Commodities Course, N.p., Lambert-Gann Publishing Co., n.d.,

113.
13 W.D. Gann, Truth of the Stock Tape, 1923. Reprint of Poor Business, Damaged

Crops, Strikes and Bank Failures in 1923 Predicted by Prophet, March 5, 1923 in
The Evening Telegram, (Pomeroy, Wash.: Lambert-Gann Publishing Co., Inc. 1976),
Appendix 17.

6
 Gann was famous for making very precise forecasts that picked both time
and price objectives. One of the most cited is his prediction that the September 1909
wheat contract at the Chicago Board of Trade would reach $1.20 per bushel. On the
contracts expiration day (September 30, 1909), it was trading at $1.08 per bushel at
12 noon, and prospects for his prediction looked dim. The Ticker article reported: It
is common history that September wheat surprised the whole country by selling at
$1.20 and no higher in the very last hour of the trading, closing at that figure.14

Astrological Clues
Gann left many clues in his writings as to his expertise with astrology,
although the word itself was not used in either the Commodities Course or his book
Truth of the Stock Tape.

Archetypes
Gann was well aware of Mercurys association with communication and the third
house when he made the following comment to a reporter in 1923:
I knew you would be coming in today, was the greeting the
unheralded reporter received on entering the office of William D.
Gann at No. 49 Broadway. When I looked at the calendar this morning
and saw it was the third day of the third month of the year 1923 I
knew I would receive callers from newspaper and publicity people.15





14 W.D. Gann, W.D. Gann Commodities Course, Reprint of article William D. Gann: His

Remarkable Predictions and Trading Record in December 1909 issue of The Ticker
and Investment Digest, N.p., Lambert-Gann Publishing Co., n.d., 163-166.
15 W.D. Gann, Truth of the Stock Tape, 1923. Reprint of Poor Business, Damaged

Crops, Strikes and Bank Failures in 1923 Predicted by Prophet, March 5, 1923 in
The Evening Telegram, (Pomeroy, Wash.: Lambert-Gann Publishing Co., Inc. 1976),
Appendix 16.

7
Cardinal Cross
Gann uses the astrological term cardinal cross to describe the major points of
measuring time and place at 90-, 180-, 270- and 360-degrees.16 These degrees,
astrologically, mark the degrees of the cardinal signs and the four primary angles
on an astrological chart. In addition, Gann said that times of day that fall on the
angles (sunrise, noon, sunset and midnight) are critical to timing: Most important
are noon, when the Sun is straight and on a 90-degree angle; and midnight, which is
opposite Noon and 90 degrees from sunset.17

Ephemeris
In December 1918, Gann published his annual stock market forecast for the
upcoming year, with many precise dates noted to expect market highs and lows.18 It
appears that many of the dates were related to astrological information that would
have been readily and easily available in an ephemeris. These include: (1) planet
ingresses; (2) planet retrograde and direct motion; (3) moon phases; (4) planet
declinations; (5) eclipses; and (6) outer-planet transits.
Please see Appendix I for Ganns entire 1919 annual outlook as well as notes
from this writer on the astrological data surrounding the dates and market behavior
that Gann forecast.

Harmonics
Gann placed extreme importance on angles derived from dividing the 360 degrees
of the circle by 2 (180 degrees, opposition), 4 (90 degrees, square) and 8 (45
degrees, semisquare) as well as 3 (120 degrees, trine) and 6 (60 degrees, sextile).
Using Gann Angles on a price chart, with the zero point at an important price high

16 W.D. Gann, W.D. Gann Commodities Course, N.p., Lambert-Gann Publishing Co., n.d.,

60.
17 Gann, 148.
18 W.D. Gann, Truth of the Stock Tape, 1923. (Pomeroy, Wash.: Lambert-Gann

Publishing Co., Inc., 1976), Appendix 18-19.

8
or low, and extending the angles from that point on the chart indicated important
points of support and resistance for both time and price.19
Of these Gann angles, the 45-degree angle, or 1 x 1 (which meant price
moved one unit for one unit of time) was the most important to Gann: the angle of
45 degrees is the death angle and when it is broken one way of the other, a big
reverse move takes place.20
45: This is the master of all numbers because it contains all the digits
from 1 to 9. The 45-degree angle divides the 90-degree angle in half,
making it an important gravity center. It is 1/8 of 360 and 5 x 9. Fast
moves up or down often occur in the 45th month. On any kind of a
chart that you make up with squares, you will find that 45 will come
out on a 45-degree angle of a 90-degree angle or an angle that is the
equivalent of these angles. Notice how 45 comes out on the square of
9, the square of 20 and the square of 12, all proving that 45 is a Master
Number. Use 45 in every way possible for measuring price, time,
space and volume measurements.21

19 W.D. Gann, W.D. Gann Commodities Course, N.p., Lambert-Gann Publishing Co., n.d.,

48, 60, 64, 112-117, 126-127, 158.

20 Gann, 64.
21 Gann, 126.

9

Fig. 3. Gann square and Gann angles on price chart. Gann And The Time Factor,
Traders.com, April 19, 2013,
http://www.traders.com/Documentation/FEEDbk_docs/2010/08/Merwe.html

Horoscopes
According to a 1923 newspaper article, Gann regularly read horoscopes for bankers,
politicians, clergymen and statesmen.22

Natal charts
It would appear that Gann may have created natal horoscopes for company
incorporations and first-trade dates, due to how he described how to understand
their price movement: Stocks are no different than human beingsthey have their
peculiar habits and moves. It is just as easy to tell what a stock will do by getting
acquainted with it and watching its moves over a long period of time, as it is to tell

22 W.D. Gann, Truth of the Stock Tape, 1923. Reprint of Poor Business, Damaged

Crops, Strikes and Bank Failures in 1923 Predicted by Prophet, March 5, 1923 in
The Evening Telegram, (Pomeroy, Wash.: Lambert-Gann Publishing Co., Inc. 1976),
Appendix 17.

10
what a human being will do under certain conditions after you have known him for
many years.23

Opposition
Gann uses the astrological term, opposition, to describe one of the very strong
angles. The opposition angle, which runs through the center of the square, from
east to west, equally dividing it, is one of the very strong angles because it equals
one-half.24

Recommended Reading List
Gann developed a Recommended Reading List of 80 books for his associates,
clients and subscribers. Nearly half of the books were related to astrology, with
many titles by Sepharius, Raphael and Alan Leo. Other titles included The Kybalion,
Oracles of Nostradamus and Philosophy of Natural Magic by 16th century magician
Cornelius Henry Agrippa.
Please see Appendix II for the entire list of recommended books.

Seasons
Gann placed great significance on the change in seasons, both from a philosophical
and practical point of view. Philosophically, the seasons revealed to him how all
activity has an appropriate time to occur.
The four seasons of the year teach us that there is a reaping time and a
sowing time, and that we can not reverse this order of Natures
lawsIt is the same with the stock market. There is a time to buy and
a time to sell, and when this time comes, neither bunches of bears nor
bevys of bulls with hot air, hope, optimism, extreme pessimism,

23 W.D. Gann, Truth of the Stock Tape, 1923. (Pomeroy, Wash.: Lambert-Gann

Publishing Co., Inc., 1976), 59-60.

24 W.D. Gann, W.D. Gann Commodities Course, N.p., Lambert-Gann Publishing Co., n.d.,

111.

11
 depression or bad reports, can force prices above or below the zones
of Supply and Demand, out of season.25

On a practical basis, Gann noted that spring, summer, fall and winter are important
times to watch for a change in trend. Even more specifically, he advised traders to
start seasonal time periods with March 21 (the spring equinox, at 0 degrees Aries)
and then divide the rest of the year into 8ths and thirds, resulting in important dates
of May 5, June 21 (summer solstice), July 23, August 5, September 22 (fall equinox),
November 8, November 22, December 21 (winter solstice), February 4 and March
20.26

Solar return
Gann appeared to apply the concept of solar returns to the behavior of markets in
price and time: The most important time periods are the anniversary day of 1, 2, 3
years or more from the dates of the important highs and important lows. 27

Synastry
It appears that Gann used synastry between his own natal horoscope and the charts
of the companies and markets he traded to determine which ones he should focus
on and which he should avoid.
My own experience in trading and my analysis of the cause of effects
enabled me to discover the reason for these things. For many years
Mex Pete was one of my particular pets. I could always make money in
it. My forecasts on it were so accurate that people all over the country
who subscribed to my market letter called me the Mex Pete
Specialist. I was able to catch its moves up and down over 90 per cent

25 W.D. Gann, Truth of the Stock Tape, 1923. (Pomeroy, Wash.: Lambert-Gann

Publishing Co., Inc., 1976), 19.

26 W.D. Gann, W.D. Gann Commodities Course, N.p., Lambert-Gann Publishing Co., n.d.,

148-150
27 Gann, 150.

12
 of the time just the same as if I had been making the fluctuations
myself.
Now there must be some cause for this, as nothing just happens.
Everything is the result of a cause. When you find that a stock does not
seem to work well for you, leave it alone. Quit trading in it, and stick to
the ones that favor you. I could explain to you the cause for this, but it
is not necessary, and many of you would not believe it.28
Indeed, Ganns natal Mercury was conjunct the Sun of the Mexican Petroleum Solid
Fuel Company, Ltd., incorporated in Dover, Delaware on May 16, 1913.29 Because
Pluto had yet to be discovered, Gann did not know that one of the most dominant
planets in his chart was exactly conjunct the Mex Pete Sun.

28 W.D. Gann, Truth of the Stock Tape, 1923. (Pomeroy, Wash.: Lambert-Gann

Publishing Co., Inc., 1976), 75.

29 Delaware Secretary of State,

https://delecorp.delaware.gov/tin/GINameSearch.jsp.

13


Fig. 4. Bi-wheel of Mexican Petroleum and W.D. Gann natal charts. Sirius. Vers. 1.3.
May 21, 2012. Cosmic Patterns Software, Inc., Gainesville, FL.
Synodic cycles
Gann watched several long-term cycles that he called the Great Time Cycles30 for
extreme high or low prices that have connections to both the important degrees of
the circle he watched, but also planetary synodic cycles. They include:
90 years (90-degrees, three Saturn returns)
82-84 years (Uranus return)
60 years (60-degrees, two Saturn returns)
45 years (45-degrees, Saturn/Uranus synodic cycle)
30 years (30-degrees, Saturn return)
20 years (Jupiter/Saturn synodic cycle)

30 W.D. Gann, W.D. Gann Commodities Course, N.p., Lambert-Gann Publishing Co., n.d.,

64.

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 Appendix I
1919 A BULL YEAR FOR STOCKS31
Notes added by Susan Gidel32

History repeats itself in the stock market as well as in the lives of men. My study of the
measurement of time cycles indicates that 1919 falls in the cycle of advancing prices. This year
will go down in history as one of a boom in oil stocks. Railroad issues will also have great
advances. Steel stocks will be benefited by large increase in foreign business from March until
August.

While the general aspects are for a more peaceful period, there is danger that the United States
will have disputes with foreign powers during April, August and September, which will cause
erratic fluctuations of stocks during these months. However, it is my judgment that all differences
will be amicably adjusted and this country will not become involved in war. The Mexican
problem will come up for settlement during this year and will cause some anxiety.

The year opens under a wave of slightly bullish influence which culminates between January 4th
to 10th. Around the 20th to 25th a very depressing influence is indicated for stocks, when some
marked declines may be expected. There will be talk of reduction in dividends and cut in prices of
steel and copper. However, a Bull campaign always begins in gloom and ends in glory.
New to First Quarter moon January 2-9
Venus ingress to Aquarius on January 11.
Sun ingress to Aquarius on January 22.
Jupiter semi-sextile Neptune January 23
Saturn opposite Uranus January 25

An accumulation of stocks will take place between January 20th and February 14th. Stocks bought
during this period will show handsome profits on the advance in April and May.
Moon at 0 South declination January 20
Full moon February 14
Moon at 0 South declination February 16

The rise will start about the end of February and a strong upward tendency will be manifest
during March when much optimistic talk will be in evidence.
Jupiter direct March 2.

The Bull wave continues, subject to minor reactions, until about May 10th, after which time a
sharp reaction may be expected.
Moon at 0 South declination May 9
Venus ingress to Cancer on May 13.
Full moon lunar eclipse on May 15

31 W.D. Gann, Truth of the Stock Tape, 1923. (Pomeroy, Wash.: Lambert-Gann

Publishing Co., Inc., 1976), Appendix 18-19.

32 Rique Pottenger, The New American Ephemeris for the 20th Century, 1900-2000 at

Midnight, Michelsen Memorial Edition, (Exeter, N.H.: Starcrafts Publishing, 2008),

January-December 1919.

15
New moon total eclipse May 29

JUNE: During the first half of June the markets in London will be very strong and the buying
from the other side will make its influence felt in our markets. From June 22nd to July 10th a
depressing influence is shown and there is likely to be some marked depreciation in stocks.
Jupiter sesquisquare Uranus June 2
Uranus retrograde June 6
Full moon in Sagittarius on June 13
Sun ingress to Cancer on June 22

JULY: After the 10th of July the bull campaign will be resumed. There will be a boom in railroad
stocks; also a large increase in foreign business.
Venus ingress to Virgo on July 7
Mars ingress to Cancer July 8
Full moon in Capricorn July 13

AUGUST: Many stocks will reach the top of the boom between the 12th to 15th and have a
quick decline to around August 23rd.
Jupiter ingress to Leo August 2
Saturn ingress to Virgo August 12
Saturn opposite Uranus August 13
Moon at 0 North declination August 13
Uranus retrograde August 16
Venus retrograde August 22
Mars ingress to Leo August 23
Sun ingress to Virgo August 24

SEPTEMBER: A depressing influence is indicated from September 2nd to 8th. After that the
Bull market will be resume and stocks will advance until around September 23rd. If they are very
strong around this time, it will be advisable to sell out all long stocks.
First quarter Moon September 2
Jupiter semisextile Pluto September 7
Mercury ingress to Virgo September 9
Moon at 0 South declination September 23
Jupiter conjunct Neptune September 24
Sun at 0 South declination September24
Sun ingress to Libra September24
Venus at 0 North declination September 26

OCTOBER: During this month we will witness some marked decline in marine stocks. The
general market should be strong up to the 6th or 7th and the bottom of the decline should be
reached about October 24th.
Venus direct October 4
Moon at 0 North declination October 7
Pluto retrograde October 9
Mars ingress to Virgo October 10
Mercury ingress to Scorpio October 14
Sun ingress to Scorpio October 24

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NOVEMBER: This will be a very mixed month and a decline may be expected from the 10th to
the 20th.
Full moon lunar eclipse November 7
Uranus direct November 8
Venus ingress to Libra November 9
Venus at 0 South declination November 10
New Moon Annular Solar eclipse November 22
Mercury retrograde November 22
Sun ingress Sagittarius November 23

DECEMBER: The indications are that stocks will be weak and decline during the early part of
the month and close at the end of the year very strong.
Moon at 0 North declination December 1
Jupiter retrograde December 5
Mercury, Jupiter, Neptune all retrograde in fire signs December 5-11 (also Pluto, in water, not yet
discovered)
Saturn semisextile Neptune December 6
Mars at 0 South declination December 7
Mercury direct December 12
Sun ingress Capricorn December 22
Saturn retrograde December 23
Moon at 0 North declination December 28

December 16th, 1928

W.D. GANN.
81 New St., N.Y.

17
 Appendix II
W.D. Ganns Recommended Reading List33

33 W.D. Ganns Recommended Reading List, W.D. Gann, April 16, 2013,

http://www.wdgann.com/product/Books/Books-Recommended/W-D-Ganns-
Recommended-Reading-List-21-Books.

18


19
 Bibliography


Campion, Nicholas. A History of Western Astrology, Volume II. London: Continuum
International Publishing Group, 2009.

Gann, W.D. How To Make Profits Trading In Commodities. 1942. Washington:
Lambert-Gann Publishing Co., Inc., 1976.

Gann, W.D. The Tunnel Thru the Air. 1927. Washington: Lambert-Gann Publishing
Co., 2003.

Gann, W.D. Truth of the Stock Tape. 1923. Washington: Lambert-Gann Publishing Co.,
Inc., 1976.

Gann, W.D. W.D. Gann Commodities Course. N.p. Lambert-Gann Publishing Co., n.d..

Holden, James Herschel. A History of Horoscopic Astrology. 2nd ed. Arizona: American
Federation of Astrologers, Inc., 2006.

Pottenger, Rique. The New American Ephemeris for the 20th Century, 1900-2000 at
Midnight. New Hampshire: Starcrafts Publishing, 2008.

20