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Predicting the evolution of software engineering technology is, at best, a dubious proposition; it is fast paced and determined by an array of factors, many of them outside the software engineering arena. The authors discuss their first ventures in this domain and preliminary conclusions. The goal of watching software engineering trends means to determine what information we must gather and maintain to gain a comprehensive view of the discipline and its evolution. This information must be sufficiently rich to support discipline-wide assessments and trend-specific analysis. The authors identified a number of software engineering-specific and technology-related indicators, which they divided into seven categories which are presented.