{"schema_version":"1.0","name":"NMFC Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-14","ticker":{"uuid":"f09306b9-61c8-4dee-99c0-e54c55d11fae","symbol":"NMFC","name":"New Mountain Finance Corporation","exchange":"NASDAQ","country":"US","asset_type":"equity","currency":"USD","sector":"Financial Services","industry":"Asset Management"},"summary":"Market Dynamics improved this week but remains below zero. Underlying support has strengthened across the recent completed path. 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record"}],"path":[{"week":0,"sample":0},{"week":1,"averageReturn":-0.7,"sample":16},{"week":2,"averageReturn":-1.8,"sample":16},{"week":3,"averageReturn":-2.4,"sample":16},{"week":4,"averageReturn":-2.4,"sample":16},{"week":5,"averageReturn":-3.0,"sample":16},{"week":6,"averageReturn":-3.4,"sample":16},{"week":7,"averageReturn":-3.0,"sample":16},{"week":8,"averageReturn":-3.7,"sample":16},{"week":9,"averageReturn":-4.5,"sample":16},{"week":10,"averageReturn":-4.1,"sample":16},{"week":11,"averageReturn":-2.9,"sample":16},{"week":12,"averageReturn":-2.1,"sample":16},{"week":13,"averageReturn":-2.3,"sample":16},{"week":14,"averageReturn":-0.9,"sample":15},{"week":15,"averageReturn":-1.3,"sample":15},{"week":16,"averageReturn":-0.7,"sample":15},{"week":17,"averageReturn":-0.6,"sample":15},{"week":18,"averageReturn":0.3,"sample":15},{"week":19,"averageReturn":-0.4,"sample":15},{"week":20,"averageReturn":-1.1,"sample":15},{"week":21,"averageReturn":-1.1,"sample":15},{"week":22,"averageReturn":-1.6,"sample":15},{"week":23,"averageReturn":-2.3,"sample":15},{"week":24,"averageReturn":-2.2,"sample":15},{"week":25,"averageReturn":-2.5,"sample":15},{"week":26,"averageReturn":-2.8,"sample":15}]}},"pricePressureGap":{"label":"Price elevated relative to Market Dynamics","kind":"structuralDivergence","expectedDirection":"lower","episodes":0,"completedEpisodes":0,"activeEpisodes":0,"horizons":[{"weeks":4,"sample":0,"expectedCount":0,"confidence":"Not enough evidence"},{"weeks":12,"sample":0,"expectedCount":0,"confidence":"Not enough evidence"},{"weeks":26,"sample":0,"expectedCount":0,"confidence":"Not enough evidence"}],"path":[{"week":0,"sample":0},{"week":1,"sample":0},{"week":2,"sample":0},{"week":3,"sample":0},{"week":4,"sample":0},{"week":5,"sample":0},{"week":6,"sample":0},{"week":7,"sample":0},{"week":8,"sample":0},{"week":9,"sample":0},{"week":10,"sample":0},{"week":11,"sample":0},{"week":12,"sample":0},{"week":13,"sample":0},{"week":14,"sample":0},{"week":15,"sample":0},{"week":16,"sample":0},{"week":17,"sample":0},{"week":18,"sample":0},{"week":19,"sample":0},{"week":20,"sample":0},{"week":21,"sample":0},{"week":22,"sample":0},{"week":23,"sample":0},{"week":24,"sample":0},{"week":25,"sample":0},{"week":26,"sample":0}]},"currentApplication":{"status":"Repair in progress","tone":"caution","headline":"Market Dynamics is repairing while price remains rotational","use":"The repair is constructive, but price has not yet established a clear response.","confirm":"Treat the repair as constructive context until price confirms it.","invalidate":"Reassess the reading when either price structure or the Market Dynamics state changes materially.","level":"negative","direction":"strengthening","zone":"middle","zoneContext":"Market Dynamics remains below zero, but it has improved across the recent completed path. This is an early repair watch until price confirms it.","historical":{"label":"Broad directional cases","weeks":12,"sample":0},"nowContext":{"label":"Stronger this week","detail":"Market Dynamics improved this week but remains below zero."},"fourWeekContext":{"label":"Strengthened over four weeks","detail":"Underlying support has strengthened across the recent completed path."},"priceContext":{"label":"Price has no clear direction","detail":"Price remains rotational while the Market Dynamics condition develops."}},"strategyApproach":{"headline":"Strategy observations from this ticker's own record","summary":"The current reading identifies the setup. The observations below show how this ticker's completed history can guide positioning, confirmation and risk control without treating any one reading as a forecast.","observations":[{"eyebrow":"Zone positioning","title":"Use distribution to protect capital before considering the short case","tone":"negative","finding":"After distribution, 100.0% of completed 12-week outcomes were lower across 2 cases. Distinct visits lasted 1.5 weeks on average before leaving the zone.","approach":"Review long exposure and define the evidence that would confirm a rollover. Short exposure should begin only after price weakens and the loss limit is known.","watch":"A sustained repair in price and Market Dynamics invalidates the downside setup."},{"eyebrow":"Disagreement playbook","title":"Use unsupported price strength to tighten discipline","tone":"caution","finding":"Comparable disagreements produced an average pullback of 4.2% across 23 completed cases, with the largest move arriving after 5.1 weeks on average.","approach":"Avoid adding simply because price is rising. Let improving Market Dynamics confirm the move, or let price reset before reassessing it.","watch":"The warning ends when Market Dynamics catches up or price gives way."}]},"summary":"This record compares the ticker's completed price path with its published Market Dynamics history."},"events":{"positioning_recoveries":[],"distribution_rollovers":[{"date":"2025-02-28","price":9.548843}],"price_pressure_gaps":[]}},"smTape":{"available":true,"dates":["2024-08-23","2024-08-30","2024-09-06","2024-09-13","2024-09-20","2024-09-27","2024-10-04","2024-10-11","2024-10-18","2024-10-25","2024-11-01","2024-11-08","2024-11-15","2024-11-22","2024-11-29","2024-12-06","2024-12-13","2024-12-20","2024-12-27","2025-01-03","2025-01-10","2025-01-17","2025-01-24","2025-01-31","2025-02-07","2025-02-14","2025-02-21","2025-02-28","2025-03-07","2025-03-14","2025-03-21","2025-03-28","2025-04-04","2025-04-11","2025-04-18","2025-04-25","2025-05-02","2025-05-09","2025-05-16","2025-05-23","2025-05-30","2025-06-06","2025-06-13","2025-06-20","2025-06-27","2025-07-04","2025-07-11","2025-07-18","2025-07-25","2025-08-01","2025-08-08","2025-08-15","2025-08-22","2025-08-29","2025-09-05","2025-09-12","2025-09-19","2025-09-26","2025-10-03","2025-10-10","2025-10-17","2025-10-24","2025-10-31","2025-11-07","2025-11-14","2025-11-21","2025-11-28","2025-12-05","2025-12-12","2025-12-19","2025-12-26","2026-01-02","2026-01-09","2026-01-16","2026-01-23","2026-01-30","2026-02-06","2026-02-13","2026-02-20","2026-02-27","2026-03-06","2026-03-13","2026-03-20","2026-03-27","2026-04-03","2026-04-10","2026-04-17","2026-04-24","2026-05-01","2026-05-08","2026-05-15","2026-05-22","2026-05-29","2026-06-05","2026-06-12","2026-06-19","2026-06-26","2026-07-03","2026-07-10","2026-07-17","2026-07-24","2026-07-31","2026-08-07","2026-08-14"],"close":[9.5721,9.5334,9.4559,9.5334,9.5163,9.5721,9.4367,9.3172,9.2934,9.1978,8.8394,9.0146,9.1819,9.365,9.5084,9.3969,9.3889,9.2374,9.1882,9.2866,8.9259,9.2374,9.4587,9.6062,9.5161,9.7783,9.8193,9.5488,9.3275,9.1472,9.2798,9.3389,8.4362,7.795,8.2168,8.5459,8.4109,8.7821,9.0689,8.9424,9.0858,9.0858,8.9255,9.0415,9.1721,9.3113,9.3809,9.3113,9.2156,9.0676,8.9197,8.9632,9.0415,9.2765,9.2417,9.1112,8.906,8.7352,8.3937,8.0253,8.3039,8.6004,8.6903,8.6454,8.4746,8.3578,8.6903,8.7622,8.7263,8.3813,8.5301,8.5766,8.5859,8.4836,8.4557,8.0092,7.4046,7.7394,7.5813,7.1162,7.4232,7.3487,7.4629,7.2596,7.6855,7.7339,8.2276,7.8307,8.3244,8.0146,7.8307,7.6855,7.7436,7.579,7.6952,7.16,7.02,7.15,7.07,7.11,6.84,6.89,7.75,7.73],"consensus":[22.2302,0.0,-12.3387,21.8686,-13.9115,22.0505,-32.7734,-43.4105,-29.8526,-46.0309,-76.2372,0.0,0.0,36.9759,41.9844,0.0,0.0,-35.0004,-20.6979,10.5088,-63.3176,27.9003,47.7716,51.6094,12.4534,62.662,44.4584,-20.7548,-37.2461,-46.8903,0.0,0.0,-73.6315,-75.0671,0.0,0.0,-32.0077,36.7031,36.8907,0.0,32.468,24.5093,-21.5594,18.9024,27.1877,35.9822,38.0492,9.4522,0.0,-23.4184,-24.5527,-9.4642,0.0,39.9606,16.9813,-11.8357,-27.1246,-48.0008,-70.7342,-75.4292,-9.7502,17.3251,9.4027,0.0,-28.5976,-28.0922,28.2317,21.2602,0.0,-47.4083,8.4889,0.0,0.0,-14.4031,-13.1633,-65.1797,-79.9421,0.0,-52.2102,-73.9788,0.0,-41.9636,-9.089,-42.2545,34.8573,10.1821,56.8676,-13.7662,56.6832,0.0,-21.7638,-23.4449,-13.5072,-34.2363,0.0,-61.0852,-42.4303,-20.6264,-33.1605,-15.8387,-46.1496,-27.1918,61.0186,-23.0806],"supportDates":["2025-08-22","2025-08-29","2025-09-05","2025-09-12","2025-09-19","2025-09-26","2025-10-03","2025-10-10","2025-10-17","2025-10-24","2025-10-31","2025-11-07","2025-11-14","2025-11-21","2025-11-28","2025-12-05","2025-12-12","2025-12-19","2025-12-26","2026-01-02","2026-01-09","2026-01-16","2026-01-23","2026-01-30","2026-02-06","2026-02-13","2026-02-20","2026-02-27","2026-03-06","2026-03-13","2026-03-20","2026-03-27","2026-04-03","2026-04-10","2026-04-17","2026-04-24","2026-05-01","2026-05-08","2026-05-15","2026-05-22","2026-05-29","2026-06-05","2026-06-12","2026-06-19","2026-06-26","2026-07-03","2026-07-10","2026-07-17","2026-07-24","2026-07-31","2026-08-07","2026-08-14"],"control":[0.0,40.0513,13.127,-20.2913,-16.1471,-42.6794,-69.6433,-75.4741,-4.3429,25.1028,3.2017,0.0,-38.1246,-23.3055,35.8206,23.7076,0.0,-51.8716,16.3665,0.0,0.0,-21.6703,-14.1123,-63.1375,-82.3395,0.0,-51.243,-72.4255,0.0,-40.0811,-9.6172,-53.2725,34.3831,3.1025,56.0552,-29.3777,58.0133,0.0,-21.7174,-28.0235,-9.2583,-35.4044,0.0,-61.29,-37.9785,-17.6793,-27.9635,-17.5833,-51.8134,-28.7106,54.354,-16.6385],"force":[0.0,56.4083,7.1883,-27.833,-49.5665,-61.2257,-90.8549,-90.8102,-43.6272,60.639,22.1026,0.0,-38.0968,-24.1099,50.0083,23.5,0.0,-79.4627,30.932,0.0,0.0,-17.8838,-7.9879,-85.1928,-96.6822,0.0,-44.2089,-88.597,0.0,-32.7709,-24.8086,-47.3688,74.4065,13.068,68.8129,-41.445,62.7872,0.0,-33.589,-27.365,-8.3204,-37.6605,0.0,-79.1768,-35.3095,-6.8623,-21.9527,-2.8647,-43.3567,-5.5774,94.6786,-4.6781],"direction":[0.0,28.1087,28.3811,-9.2545,-23.6403,-44.6359,-57.6091,-64.3915,-54.0568,22.5023,7.4181,0.0,-10.9245,-36.4072,4.0039,16.8632,0.0,-19.4113,16.5448,0.0,0.0,-3.6114,-15.7756,-53.2185,-65.2451,0.0,-59.0308,-65.3124,0.0,-50.6812,-32.6978,-26.0096,7.1497,16.2117,49.2638,-23.8461,50.803,0.0,-13.3704,-15.412,-22.0679,-30.4555,0.0,-47.9285,-52.6045,-43.6293,-47.1053,-27.2045,-41.6716,-40.8948,44.5926,-43.5875],"intensity":[23.0769,63.4615,30.7692,26.9231,86.5385,42.3077,73.0769,78.8462,61.5385,63.4615,67.3077,5.7692,38.4615,73.0769,71.1538,51.9231,5.7692,75.0,40.3846,23.0769,9.6154,13.4615,9.6154,88.4615,92.3077,69.2308,55.7692,90.3846,65.3846,59.6154,30.7692,46.1538,84.6154,78.8462,94.2308,82.6923,94.2308,65.3846,78.8462,28.8462,7.6923,30.7692,19.2308,96.1538,94.2308,48.0769,38.4615,15.3846,50.0,11.5385,100.0,98.0769],"confirmation":[2.6057,81.2873,50.5276,28.7871,77.5311,83.8444,91.2648,92.6054,10.8829,34.2127,26.1571,2.6586,77.2956,76.9411,54.9155,74.8342,24.9576,84.0795,29.4766,24.4291,23.7901,49.9376,49.3734,89.4985,94.0551,12.2576,84.4782,92.1424,11.3287,81.1769,29.8265,81.5094,57.7002,48.7874,86.5741,32.7647,86.3044,30.703,75.3255,75.5521,72.229,79.0422,3.2102,88.0955,81.4285,52.6049,78.349,50.4163,82.5965,53.3528,88.6534,52.2564],"persistence":[0.0,0.0,0.0,25.0,37.5,37.5,37.5,37.5,50.0,50.0,50.0,37.5,37.5,37.5,12.5,12.5,25.0,0.0,0.0,0.0,12.5,12.5,12.5,37.5,50.0,37.5,62.5,75.0,75.0,75.0,75.0,75.0,50.0,37.5,12.5,12.5,0.0,12.5,12.5,12.5,12.5,37.5,50.0,50.0,75.0,87.5,87.5,87.5,87.5,87.5,75.0,50.0],"assessmentRisk":[45.8871,26.7242,40.9506,47.891,25.3124,25.9753,14.6322,12.2853,44.9621,36.7465,39.4842,50.5332,47.549,26.8278,14.1158,13.2401,37.0803,28.6964,33.7533,32.4823,30.181,33.2146,15.4145,17.1383,10.0232,47.178,23.7517,12.9026,0.51,23.1777,15.5764,45.2916,17.4353,37.4841,20.477,53.0711,18.837,37.6319,31.248,9.4017,41.414,28.3144,22.5551,15.7912,27.7214,34.4416,31.9876,1.8427,8.4168,30.7648,18.2833,36.7698],"volumeParticipation":true,"latest":{"consensus":-23.1,"control":-16.6,"force":-4.7,"direction":-43.6,"confirmation":52.3,"persistence":50.0,"assessmentRisk":36.8,"intensity":98.1,"evidenceDepth":100},"analysis":{"status":"Market Dynamics has stronger support","headline":"The gauges support the downward view","summary":"The completed evidence gives the downward view the clearer support.","take":"Current assessment: downward pressure has the stronger support.","tone":"negative","supportedView":"Market Dynamics","direction":"downward","disagreement":false},"support":{"window":"Latest 12 months","controlState":"Seller control supports the view","controlPath":"Broadly stable","forceState":"Commitment is limited","forcePath":"Broadly stable","directionState":"Downward follow-through","persistenceState":"Developing","confirmationState":"Qualified support","riskState":"Contained","intensityState":"Elevated"},"cards":[{"label":"SM Consensus Gauge","value":"-23.1","detail":"Market Dynamics has stronger support","tone":"negative"},{"label":"SM Control Gauge","value":"-16.6","detail":"Seller control supports the view","tone":"negative"},{"label":"SM Force Gauge","value":"-4.7","detail":"Commitment is limited","tone":"negative"},{"label":"SM Direction Gauge","value":"-43.6","detail":"Downward follow-through","tone":"negative"},{"label":"SM Confirmation Gauge","value":"52/100","detail":"Qualified support","tone":"neutral"}]},"kpis":[{"label":"Price structure","value":"Rotational","detail":"completed-week alignment","tone":"caution"},{"label":"Momentum","value":"52.3","detail":"Positive","tone":"positive"},{"label":"Risk pressure","value":"5.5%","detail":"Elevated","tone":"caution"},{"label":"Trend quality","value":"30.1","detail":"Directional","tone":"positive"},{"label":"Range position","value":"59%","detail":"location inside observed range","tone":"neutral"},{"label":"Adaptive set","value":"6 views","detail":"selected for the current tape","tone":"neutral"}],"charts":[{"key":"price","eyebrow":"Price architecture","title":"Trend, acceptance and volatility envelope","description":"Price is shown against fast and slow trend references with its current volatility 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