Trend Table for GCI - GRYPHON CAPITAL INCOME TRUST

Current Trend Strength: Weak or Absent

Date	Grade	ADX	Long Term	Intermediate Term	Short Term	% Chg
Sep 5	A	Strong	Up	Up	Up	12.41%
Sep 4	A	Strong	Up	Up	Up	12.41%
Sep 1	A	Strong	Up	Up	Up	12.68%
Aug 31	A	Weak or Absent	Up	Up	Flat	13.53%
Aug 30	A	Weak or Absent	Up	Up	Flat	13.80%
Aug 29	A	Weak or Absent	Up	Up	Up	13.25%
Aug 28	A	Weak or Absent	Up	Up	Flat	13.80%
Aug 25	A	Weak or Absent	Up	Up	Flat	14.10%
Aug 24	A	Weak or Absent	Up	Up	Flat	14.10%
Aug 23	A	Weak or Absent	Up	Up	Flat	14.67%