Trend Table for ARF - Arena REIT No 1

Current Trend Strength: Weak or Absent

Date	Grade	ADX	Long Term	Intermediate Term	Short Term	% Chg
Jul 18	A	Weak or Absent	Up	Up	Up	3.61%
Jul 17	A	Weak or Absent	Up	Up	Up	2.58%
Jul 16	A	Weak or Absent	Up	Up	Up	3.35%
Jul 15	A	Weak or Absent	Up	Up	Up	3.87%
Jul 12	A	Weak or Absent	Up	Up	Up	3.87%
Jul 11	A	Weak or Absent	Up	Up	Flat	5.47%
Jul 10	A	Weak or Absent	Up	Up	Flat	5.20%
Jul 9	B	Weak or Absent	Up	Up	Down	7.11%
Jul 8	B	Weak or Absent	Up	Up	Down	7.39%
Jul 5	A	Weak or Absent	Up	Up	Down	6.01%