According to The Kobeissi Letter, S&P 500 futures have plunged by 250 points over the last five trading days, reflecting market volatility driven by speculation around a potential 'Japan deal.' Traders should note this significant downturn as futures extend losses to new daily lows, emphasizing the risks associated with speculative market rallies.

According to The Kobeissi Letter, S&P 500 futures have experienced a significant decline, dropping 250 points in less than five trading days due to market rallies driven by speculative hopes for a 'Japan deal.' This downturn highlights the volatility and risk associated with trading on unconfirmed international agreements.