Donald Trump signed a bill into law that expresses U.S. support for Hong Kong protesters, a move that could strain relations with China and further complicate the president’s effort to come to a phase one trade deal.
Will the market react?
I would guess not. Gamma exposure right now is massive. This has held the markets higher for the past month, along with Fed interventions. If these are actually those items holding the market higher for the time being, we will see the current bull trend continue. This is where my bias is with about 65% probability.