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
Aug 27	A	Weak or Absent	Up	Up	Up	-2.98%
Aug 26	B	Weak or Absent	Up	Up	Flat	-1.16%
Aug 23	C	Weak or Absent	Up	Up	Flat	-0.59%
Aug 22	C	Weak or Absent	Up	Up	Down	0.75%
Aug 21	B	Weak or Absent	Up	Up	Flat	-1.16%
Aug 20	B	Weak or Absent	Up	Up	Flat	-1.08%
Aug 19	B	Weak or Absent	Up	Up	Up	-1.16%
Aug 16	B	Weak or Absent	Up	Up	Flat	-0.40%
Aug 15	B	Weak or Absent	Up	Up	Up	-1.16%
Aug 14	A	Weak or Absent	Up	Up	Up	-0.59%