Trend Table for SAJ - Saratoga Investment Corp 8.00% Notes due 2027

Current Trend Strength: Strong

Date	Grade	ADX	Long Term	Intermediate Term	Short Term	% Chg
Jul 24	B	Weak or Absent	Up	Flat	Flat	3.56%
Jul 23	B	Weak or Absent	Up	Flat	Flat	3.15%
Jul 22	B	Strong	Up	Flat	Flat	3.48%
Jul 19	A	Strong	Up	Flat	Flat	3.35%
Jul 18	A	Strong	Up	Up	Up	2.49%
Jul 17	A	Strong	Up	Up	Up	2.29%
Jul 16	B	Strong	Up	Up	Flat	3.10%
Jul 15	B	Strong	Up	Up	Flat	3.04%
Jul 12	B	Strong	Up	Flat	Flat	3.43%
Jul 11	B	Strong	Up	Up	Flat	3.18%