Trend Table for GCI - GRYPHON CAPITAL INCOME TRUST

Current Trend Strength: Weak or Absent

Date	Grade	ADX	Long Term	Intermediate Term	Short Term	% Chg
Mar 1	A	Weak or Absent	Up	Up	Up	17.40%
Feb 28	A	Weak or Absent	Up	Up	Up	17.99%
Feb 27	A	Weak or Absent	Up	Up	Up	17.69%
Feb 24	B	Weak or Absent	Up	Flat	Flat	18.70%
Feb 23	B	Weak or Absent	Up	Flat	Flat	18.70%
Feb 22	B	Weak or Absent	Up	Flat	Flat	18.99%
Feb 21	C	Weak or Absent	Flat	Flat	Flat	19.28%
Feb 20	C	Weak or Absent	Flat	Flat	Flat	19.28%
Feb 17	B	Weak or Absent	Up	Flat	Flat	18.99%
Feb 16	C	Weak or Absent	Flat	Flat	Flat	19.60%