Trend Table for IPB - Merrill Lynch & Co., Inc. 6.0518% Index Plus Trust Certificates Series 2003-1

Current Trend Strength: Weak or Absent

Date	Grade	ADX	Long Term	Intermediate Term	Short Term	% Chg
Mar 7	B	Strong	Up	Up	Up	2.53%
Mar 6	B	Weak or Absent	Up	Up	Up	3.02%
Mar 5	A	Weak or Absent	Up	Up	Up	4.24%
Mar 4	A	Weak or Absent	Up	Up	Up	4.24%
Mar 1	B	Weak or Absent	Up	Up	Up	4.44%
Feb 29	B	Weak or Absent	Up	Flat	Flat	5.31%
Feb 28	B	Weak or Absent	Up	Flat	Flat	5.31%
Feb 27	B	Weak or Absent	Up	Flat	Flat	5.30%
Feb 26	B	Weak or Absent	Up	Up	Up	5.06%
Feb 23	B	Weak or Absent	Up	Up	Up	5.06%