Trend Table for NZF - Nuveen Dividend Advantage Municipal Fund 3

Current Trend Strength: Weak or Absent

Date	Grade	ADX	Long Term	Intermediate Term	Short Term	% Chg
May 15	B	Weak or Absent	Up	Up	Up	7.63%
May 14	B	Weak or Absent	Up	Up	Flat	8.62%
May 13	A	Weak or Absent	Up	Up	Up	8.69%
May 10	B	Weak or Absent	Up	Up	Up	8.33%
May 9	B	Weak or Absent	Up	Up	Up	7.79%
May 8	A	Weak or Absent	Up	Up	Up	8.06%
May 7	A	Weak or Absent	Up	Up	Up	8.15%
May 6	B	Weak or Absent	Up	Up	Up	9.15%
May 3	C	Weak or Absent	Up	Flat	Up	9.79%
May 2	C	Weak or Absent	Up	Down	Flat	10.72%