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 20	B	Weak or Absent	Up	Up	Flat	9.77%
May 17	B	Weak or Absent	Up	Up	Flat	9.86%
May 16	A	Weak or Absent	Up	Up	Up	9.68%
May 15	B	Weak or Absent	Up	Up	Up	9.86%
May 14	B	Weak or Absent	Up	Up	Flat	10.88%
May 13	A	Weak or Absent	Up	Up	Up	10.94%
May 10	B	Weak or Absent	Up	Up	Up	10.58%
May 9	B	Weak or Absent	Up	Up	Up	10.03%
May 8	A	Weak or Absent	Up	Up	Up	10.30%
May 7	A	Weak or Absent	Up	Up	Up	10.39%