Trend Table for GCI - GRYPHON CAPITAL INCOME TRUST

Current Trend Strength: Weak or Absent

Date	Grade	ADX	Long Term	Intermediate Term	Short Term	% Chg
May 29	A	Weak or Absent	Up	Flat	Flat	18.96%
May 26	A	Weak or Absent	Flat	Flat	Down	19.42%
May 25	A	Weak or Absent	Flat	Flat	Down	19.42%
May 24	A	Weak or Absent	Up	Up	Flat	18.50%
May 23	B	Weak or Absent	Flat	Flat	Down	19.42%
May 22	B	Strong	Flat	Flat	Down	19.42%
May 19	A	Strong	Up	Flat	Down	18.82%
May 18	A	Strong	Up	Up	Flat	18.50%
May 17	A	Strong	Up	Up	Flat	17.90%
May 16	A	Strong	Up	Up	Flat	18.21%