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 15	A	Strong	Up	Up	Flat	18.50%
May 12	A	Strong	Up	Up	Flat	17.90%
May 11	A	Strong	Up	Up	Flat	18.21%
May 10	A	Strong	Up	Up	Flat	18.21%
May 9	A	Strong	Up	Up	Flat	17.90%
May 8	A	Strong	Up	Up	Up	17.30%
May 5	A	Weak or Absent	Up	Up	Flat	18.21%
May 4	A	Weak or Absent	Up	Flat	Flat	18.82%
May 3	A	Weak or Absent	Up	Flat	Flat	18.82%
May 2	A	Weak or Absent	Up	Up	Up	17.60%