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
Feb 8	B	Weak or Absent	Up	Up	Flat	9.06%
Feb 6	B	Weak or Absent	Up	Up	Flat	8.95%
Feb 5	B	Weak or Absent	Up	Flat	Down	9.82%
Feb 2	C	Weak or Absent	Up	Flat	Down	9.82%
Feb 1	B	Strong	Up	Up	Flat	8.74%
Jan 31	A	Strong	Up	Up	Up	7.80%
Jan 30	B	Strong	Up	Up	Up	8.32%
Jan 29	C	Strong	Up	Up	Flat	9.39%
Jan 26	A	Strong	Up	Up	Up	7.91%
Jan 25	C	Strong	Up	Up	Flat	9.39%