Tracing logic for monitoring a stream of processing instructions from a program being processed by a data processor is disclosed, said tracing logic comprising monitoring logic operable to detect processing of said instructions in said instruction stream; detect which of said instructions in said instruction stream are conditional direct branch instructions, which of said instructions in said instruction stream are conditional indirect branch instructions and which of said instructions in said instruction stream are unconditional indirect branch instructions; said tracing logic further comprising compression logic operable to: designate said conditional direct branch instructions, said conditional indirect branch instructions and said indirect branch instructions as marker instructions; for each marker instruction, output an execution indicator indicating if said marker instruction has executed or a non-execution indicator indicating if said marker instruction has not executed and not output data relating to previously processed instructions that are not marker instructions.