Trend Table for XCEM - EGShares EM Core ex-China ETF

Current Trend Strength: Weak or Absent

Date	Grade	ADX	Long Term	Intermediate Term	Short Term	% Chg
May 23	A	Weak or Absent	Up	Up	Down	3.11%
May 22	A	Weak or Absent	Up	Up	Flat	2.35%
May 21	B	Weak or Absent	Up	Up	Flat	2.39%
May 20	B	Weak or Absent	Up	Up	Up	2.03%
May 17	A	Weak or Absent	Up	Up	Up	1.80%
May 16	A	Weak or Absent	Up	Up	Up	1.90%
May 15	A	Weak or Absent	Up	Up	Up	1.39%
May 14	A	Weak or Absent	Up	Up	Up	2.65%
May 13	A	Weak or Absent	Up	Up	Flat	3.61%
May 10	A	Weak or Absent	Up	Up	Up	3.57%