Trend Table for GCI - GRYPHON CAPITAL INCOME TRUST

Current Trend Strength: Weak or Absent

Date	Grade	ADX	Long Term	Intermediate Term	Short Term	% Chg
Dec 19	A	Strong	Flat	Up	Flat	19.52%
Dec 16	B	Strong	Flat	Up	Up	19.24%
Dec 15	B	Strong	Down	Up	Flat	20.14%
Dec 14	B	Strong	Down	Up	Flat	20.14%
Dec 13	B	Strong	Down	Up	Flat	20.14%
Dec 12	B	Strong	Down	Up	Flat	20.45%
Dec 9	B	Strong	Down	Up	Down	20.76%
Dec 8	B	Strong	Down	Up	Flat	20.14%
Dec 7	B	Strong	Down	Up	Down	20.76%
Dec 6	B	Strong	Flat	Up	Flat	19.52%