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
Jun 28	A	Weak or Absent	Up	Up	Up	0.78%
Jun 27	B	Weak or Absent	Up	Up	Flat	1.57%
Jun 26	A	Weak or Absent	Up	Up	Up	1.22%
Jun 25	A	Weak or Absent	Up	Up	Up	0.31%
Jun 24	B	Weak or Absent	Up	Up	Up	1.77%
Jun 21	A	Weak or Absent	Up	Up	Up	1.32%
Jun 20	B	Weak or Absent	Up	Up	Up	1.98%
Jun 18	A	Weak or Absent	Up	Up	Up	0.78%
Jun 17	C	Weak or Absent	Up	Up	Up	3.14%
Jun 14	C	Weak or Absent	Up	Flat	Up	3.95%