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

Current Trend Strength: Strong

Date	Grade	ADX	Long Term	Intermediate Term	Short Term	% Chg
Jul 25	B	Weak or Absent	Up	Up	Up	-1.25%
Jul 24	A	Weak or Absent	Up	Flat	Flat	-0.50%
Jul 23	B	Weak or Absent	Up	Up	Up	-1.86%
Jul 22	D	Weak or Absent	Up	Up	Up	-1.72%
Jul 19	C	Weak or Absent	Up	Flat	Flat	0.06%
Jul 18	D	Weak or Absent	Up	Flat	Flat	0.34%
Jul 17	D	Weak or Absent	Up	Flat	Flat	0.20%
Jul 16	C	Weak or Absent	Up	Flat	Down	0.06%
Jul 15	C	Weak or Absent	Up	Flat	Down	-0.08%
Jul 12	D	Weak or Absent	Up	Flat	Down	0.48%