Trend Table for IPB - Merrill Lynch & Co., Inc. 6.0518% Index Plus Trust Certificates Series 2003-1

Current Trend Strength: Weak or Absent

Date	Grade	ADX	Long Term	Intermediate Term	Short Term	% Chg
Sep 18	B	Weak or Absent	Up	Up	Up	0.00%
Sep 17	C	Weak or Absent	Up	Up	Up	0.91%
Sep 16	C	Weak or Absent	Up	Up	Up	-0.33%
Sep 13	C	Weak or Absent	Up	Up	Down	2.62%
Sep 12	C	Weak or Absent	Up	Up	Flat	2.52%
Sep 11	B	Weak or Absent	Up	Up	Flat	2.06%
Sep 9	B	Weak or Absent	Up	Up	Flat	2.06%
Sep 6	B	Weak or Absent	Up	Up	Flat	3.00%
Sep 5	B	Weak or Absent	Up	Up	Flat	2.94%
Sep 4	B	Weak or Absent	Up	Up	Flat	2.83%