Trend Table for QVAL - ValueShares U.S. Quantitative Value ETF

Current Trend Strength: Weak or Absent

Date	Grade	ADX	Long Term	Intermediate Term	Short Term	% Chg
May 17	D	Weak or Absent	Down	Down	Flat	44.72%
May 16	D	Weak or Absent	Down	Down	Down	47.13%
May 15	D	Weak or Absent	Down	Down	Flat	44.32%
May 12	D	Weak or Absent	Down	Down	Down	45.48%
May 11	D	Weak or Absent	Down	Down	Down	45.30%
May 10	D	Weak or Absent	Down	Down	Flat	43.47%
May 9	D	Weak or Absent	Down	Down	Flat	43.61%
May 8	D	Weak or Absent	Down	Down	Flat	43.25%
May 5	D	Weak or Absent	Down	Down	Down	43.92%
May 4	D	Weak or Absent	Down	Down	Down	48.06%