Trend Table for USML - ETRACS 2x Leveraged MSCI US Minimum Volatility Factor TR ETN

Current Trend Strength: Strong

Date	Grade	ADX	Long Term	Intermediate Term	Short Term	% Chg
Jul 25	B	Weak or Absent	Up	Up	Down	12.35%
Jul 24	B	Weak or Absent	Up	Up	Down	12.88%
Jul 23	B	Weak or Absent	Up	Up	Flat	12.03%
Jul 22	B	Weak or Absent	Up	Up	Up	10.99%
Jul 19	B	Weak or Absent	Up	Up	Up	11.97%
Jul 18	A	Weak or Absent	Up	Up	Up	10.10%
Jul 17	A	Weak or Absent	Up	Up	Up	8.77%
Jul 16	A	Weak or Absent	Up	Up	Up	9.45%
Jul 11	A	Weak or Absent	Up	Up	Up	13.31%
Jul 8	A	Weak or Absent	Up	Up	Flat	15.61%