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 8	A	Weak or Absent	Up	Up	Up	11.49%
May 7	A	Weak or Absent	Up	Up	Up	11.49%
May 6	A	Weak or Absent	Up	Up	Up	12.09%
May 3	A	Strong	Up	Up	Up	11.49%
May 2	A	Strong	Up	Up	Up	13.00%
May 1	A	Strong	Up	Up	Up	13.62%
Apr 30	A	Strong	Up	Up	Up	12.69%
Apr 29	A	Strong	Up	Up	Up	14.24%
Apr 26	B	Strong	Up	Down	Down	18.12%
Apr 24	B	Strong	Up	Up	Flat	15.51%