Trend Table for GCI - GRYPHON CAPITAL INCOME TRUST

Current Trend Strength: Weak or Absent

Date	Grade	ADX	Long Term	Intermediate Term	Short Term	% Chg
Jan 17	A	Strong	Up	Up	Up	18.38%
Jan 16	A	Strong	Flat	Up	Flat	18.99%
Jan 13	A	Strong	Flat	Up	Flat	18.70%
Jan 12	A	Strong	Flat	Up	Flat	18.70%
Jan 11	A	Strong	Flat	Up	Up	18.70%
Jan 10	A	Strong	Flat	Up	Up	18.70%
Jan 9	A	Strong	Flat	Up	Flat	19.28%
Jan 6	B	Strong	Down	Up	Flat	19.90%
Jan 5	A	Strong	Flat	Up	Flat	19.28%
Jan 4	B	Strong	Flat	Up	Flat	19.60%