Trend Table for ARF - Arena REIT No 1

Current Trend Strength: Weak or Absent

Date	Grade	ADX	Long Term	Intermediate Term	Short Term	% Chg
May 22	A	Weak or Absent	Up	Up	Flat	9.44%
May 21	A	Weak or Absent	Up	Up	Up	8.87%
May 20	A	Weak or Absent	Up	Up	Up	8.59%
May 17	A	Weak or Absent	Up	Up	Up	8.31%
May 16	A	Weak or Absent	Up	Up	Up	6.64%
May 15	A	Weak or Absent	Up	Up	Up	10.02%
May 14	A	Weak or Absent	Up	Up	Up	11.19%
May 13	A	Weak or Absent	Up	Up	Flat	11.79%
May 10	A	Weak or Absent	Up	Up	Up	11.19%
May 9	A	Weak or Absent	Up	Up	Up	10.90%