Suppose that we focus our attention on the full history of the Bullish Sentiment Index and allocate events into the four cells in table 6-1. If most of the event combinations fell into the diagonal cells, we would conclude that the contrarian view of the Bullish Sentiment Index is valid. If most of the events fell into the off-diagonal cells, we would conclude that investment advisers appear to have impressive forecasting ability. If the events fall evenly across diagonal and off-diagonal cells, than we would conclude that Bullish Sentiment Index is useless as tool to forecast the market.