DAVID E. BOWDEN
W.D. Gann made his reputation by making market calls long before the events took place. Some of these calls proved to be amazingly prescient. Some of them were wrong. To publish a market top, say, twelve months in advance and have your forecast proved correct is every bit as thrilling as winning a gold medal at the Olympics—and probably rarer, too. To know where the market is going presently is hard enough. Is it at a top? Is it a bottom, or is it in the middle of a run? These questions are difficult enough to answer about the next several weeks, never mind going twelve months out. Indeed, sometimes it’s a big enough challenge just to have a solid opinion after an event without being asked to make projections ...