Trend Table for MCN - Madison Covered Call & Equity Strategy Fund

Current Trend Strength: Weak or Absent

Date	Grade	ADX	Long Term	Intermediate Term	Short Term	% Chg
Dec 21	A	Weak or Absent	Up	Up	Flat	10.43%
Dec 20	B	Weak or Absent	Flat	Down	Down	13.89%
Dec 19	B	Weak or Absent	Flat	Down	Down	13.89%
Dec 16	C	Weak or Absent	Down	Down	Down	15.15%
Dec 15	A	Weak or Absent	Up	Up	Down	9.99%
Dec 14	A	Weak or Absent	Up	Up	Up	6.42%
Dec 13	A	Weak or Absent	Up	Up	Up	7.17%
Dec 12	B	Weak or Absent	Up	Up	Flat	9.28%
Dec 9	A	Weak or Absent	Up	Up	Up	8.70%
Dec 8	A	Weak or Absent	Up	Up	Up	8.85%