Pong consists of a ball bouncing off the top or bottom of the screen, or 2 player controlled paddles along the left & right sides. If the ball misses the paddles the opposing player's score is incremented (we can use our hex-decoder circuit, which we're using to program the machine, to display the scores).
So that's comparing the ball's X/Y position against the screen bounds to negate the X or Y component of its velocity, & updating the position of the ball's & paddles every frame.
2/3!