Hong Kong Phase 2

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As a follow-up to this morning’s Hong Kong Phase 1 post, there is now more market action, thanks to the U.S. Congress taking an extraordinarily rare, virtually unanimous, opportunity to voice its support for Hong Kong. First it was the Senate, and now the House joins them. I mentioned this morning, ” The ES needs to crack 3100, however, to get a little more interesting.” Well, it has done so, and I think 3105 is a fairly important line in the sand on the ES.

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Likewise, on the NQ, 8284 is an interesting short-term delineation between the distribution top and what lies beneath.

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