Trend Table for SAT - Saratoga Investment Corp 6.00% Notes due 2027

Current Trend Strength: Strong

Date	Grade	ADX	Long Term	Intermediate Term	Short Term	% Chg
Jul 31	A	Strong	Up	Up	Flat	3.30%
Jul 30	A	Strong	Up	Up	Flat	3.34%
Jul 29	A	Weak or Absent	Up	Up	Flat	3.55%
Jul 26	A	Weak or Absent	Up	Up	Flat	3.39%
Jul 25	A	Weak or Absent	Up	Up	Flat	3.59%
Jul 24	A	Weak or Absent	Up	Up	Flat	3.76%
Jul 23	A	Weak or Absent	Up	Up	Flat	3.55%
Jul 22	A	Weak or Absent	Up	Up	Flat	3.72%
Jul 19	A	Weak or Absent	Up	Flat	Flat	4.41%
Jul 17	A	Weak or Absent	Up	Up	Up	3.39%